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Golden Developing Solutions, Inc. (DVLP) to Exhibit and Launch New Software Division at MJBizCon

4 hours 43 min ago

AUSTIN, Texas, Nov. 13, 2018 (GLOBE NEWSWIRE) -- via NetworkWire - Golden Developing Solutions, Inc. (OTC Pink: DVLP) today announces it will exhibit and launch its new software division at MJBizCon taking place in Las Vegas, Nevada, November 14-16, 2018.

From booth #1748 DVLP will unveil Greener Grows (www.GreenerGrows.org), its new software division that allows businesses to anonymously share their metrics and compare with others. Greener Grows is a free industry tool designed to help businesses in the cannabis industry lower their environmental footprint and achieve cost savings.  The software will collate data that can be used by other businesses, regulators and industry professionals.

“We can think of no better time and place to launch Greener Grows than MJBizCon, where we can network with the industry’s top innovators. We are excited to introduce Greener Grows as a data collection tool that can be used across the industry to help improve cannabis growing and operations,” states DVLP CEO Stavros Triant. “This is an excellent opportunity to build industry relationships and gain exposure for our products and services.”

DVLP’s second booth, #4289, will showcase Where’s Weed (www.WheresWeed.com), the Company’s online platform for location-based deals, dispensary listings, and product pre-purchasing.  

For more information on MJBizCon, visit https://MJBizConference.com/

About Golden Developing Solutions, Inc.:

Golden Developing Solutions (DVLP) is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products. Through the website of its wholly owned subsidiary, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the company offers a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products. Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.

Golden Developing Solutions is a development-stage company providing business services and/or products supporting the cannabis industry, in which company intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced herein are not incorporated into this press release.

Company Contacts:
Stavros Triant, CEO
Stavros@GoldenDeveloping.com        

Corporate Communications Contact: 
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office 
Editor@NetworkNewsWire.com

Categories: State

Apolo II Acquisition Corp. Announces Proposed Qualifying Transaction

5 hours 47 min ago

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES

TORONTO, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Apolo II Acquisition Corp. ("Apolo" or the "Corporation") (TSXV: APII.P) is pleased to announce that it has entered into a binding letter of intent dated November 12, 2018 (the "Letter of Intent") with Terrace Inc. ("Terrace") pursuant to which Apolo will acquire all of the issued and outstanding common shares in the capital of Terrace (the "Terrace Common Shares") upon the terms and conditions to be set out in a definitive agreement (the "Proposed Transaction").

Apolo is a Capital Pool Company ("CPC") and intends the Proposed Transaction to constitute its Qualifying Transaction (the "Qualifying Transaction") under the policies of the TSX Venture Exchange (the "Exchange").

INFORMATION ON Terrace

Terrace was incorporated pursuant to the provisions of the OBCA on August 28, 2018. Terrace's head office is located at 365 Bay Street, Suite 800, Toronto, Ontario. Terrace is a Canadian company focused on the development and acquisition of international cannabis assets.

Terrace has an option to acquire 100% of the shares of Oransur, S.A., a Uruguayan corporation holding a hemp production license ("Oransur"), and 33.75% of the shares of Faises, S.A., a Uruguayan corporation holding a recreational cannabis production license ("Faises"), upon receipt of the approval of the Instituto de Regulación y Control del Cannabis ("IRCCA").

Oransur

Oransur is the holder of hemp license in Uruguay. It leases farms across Uruguay to cultivate various crops with proprietary and imported genetics. Its current operation is 60 hectares and located in Florida, Uruguay, with the ability to expand its production area to 500 hectares.

Faises

Faises has one of two licenses in Uruguay to produce and distribute recreational cannabis through approved pharmacies. Its current production capacity is two tonnes per year, with an option to increase to four tonnes. The Faises land is owned by Uruguayan State and leased by Faises. Its producing greenhouse is located in San José, one hour from Carrasco International Airport.

BACKGROUND

The Letter of Intent provides that Apolo and Terrace will negotiate and enter into a definitive agreement in respect of the Proposed Transaction (the "Definitive Agreement"). Once entered into, the Definitive Agreement shall supersede the Letter of Intent. Pursuant to the Letter of Intent, Apolo will acquire all of the issued and outstanding Terrace Common Shares by way of a "three-cornered amalgamation" pursuant to the provisions of the Business Corporations Act (Ontario) (the "OBCA").

The Proposed Transaction will constitute a reverse take-over of Apolo by Terrace where the existing shareholders of Terrace will own, assuming completion of the QT Financing (as defined hereafter), a majority of the outstanding Apolo Common Shares. The final structure of the Proposed Transaction is subject to receipt of tax, corporate and securities law advice for both Apolo and Terrace.

THE QUALIFYING TRANSACTION

The holders of the issued and outstanding Terrace Common Shares shall receive one post-Consolidation (as defined below) common shares in the capital of Apolo (each, an "Apolo Common Share") for each Terrace Common Share held (the "Exchange Ratio").

On or immediately prior to the completion of the Proposed Transaction, it is anticipated that: (i) Apolo will effect a name change to such name as may be determined by Apolo and Terrace (the "Resulting Issuer"); and (ii) Apolo will consolidate its common shares on the basis of one "new" share for every 2.5 "old" shares issued and outstanding (the "Consolidation").

Completion of the Proposed Transaction will be subject to a number of conditions including completion of the Consolidation and the QT Financing, shareholder approval, if required, completion or waiver of sponsorship, receipt of all required regulatory approvals, including the approval of the Exchange, completion of satisfactory due diligence reviews, satisfaction of all initial listing requirements of the Exchange and all requirements under the policies of the Exchange relating to the completion of the Proposed Transaction, and execution of the Definitive Agreement.

Sponsorship of a Qualifying Transaction of a CPC is required by the Exchange unless exempt in accordance with Exchange policies or waived by the Exchange. The Proposed Transaction may require sponsorship and Apolo plans to provide a news release update should a sponsor be retained. Apolo's shares will be halted from trading as a result of the announcement of the Proposed Transaction. Apolo expects that trading in its Apolo Common Shares will remain halted pending closing of the Qualifying Transaction. The Apolo Common Shares may trade sooner, only upon Exchange approval and the filing of required materials with the Exchange as contemplated by Exchange policy.

Terrace FINANCING

In conjunction with the Proposed Transaction, the parties have agreed that Terrace may complete a financing of Terrace Common Shares prior to the closing of the Proposed Transaction upon terms yet to be determined (the "QT Financing").

Terrace would use the net proceeds from the QT Financing to build out its production and extraction assets in Uruguay, to complete the acquisition of certain assets, including in Colombia and Spain, and for working capital.

PROPOSED DIRECTORS OF THE RESULTING ISSUER

Subject to applicable shareholder and Exchange approval, on completion of the Proposed Transaction, the board of directors of the Resulting Issuer will be comprised of the following individuals:

Francisco Ortiz von Bismarck

Francisco Ortiz von Bismarck is an international entrepreneur and founder of Terrace, who brings extensive investment experience across Europe and South America. Mr. von Bismarck has founded several companies over the span of his career. In 2006, he co-founded the "Spanish Facebook", 'Tuenti', which was sold to Telefonica in 2010. Francisco holds a Bachelor Degree in Economics from Harvard University.

Vincent Gasparro

Vincent Gasparro has over eleven years of private equity experience. Mr. Gasparro has completed acquisitions in the manufacturing and retail sectors. Since June 2010 to April 2017, Mr. Gasparro has served as Managing Director at The Green Tomorrow Fund, where he has been investing in and financing renewable energy projects as well as revenue generating green businesses. Prior to that, Mr. Gasparro was a Senior Associate as Succession Capital Corp. Mr. Gasparro has a B.A. (Honours) from York University and an MBA from Villanova University.

Maxim Zavet

Max Zavet is a lawyer, entrepreneur, and prolific cannabis professional. As CEO of Robes Cannabis, Mr. Zavet has taken his entrepreneurial passion and love for the plant and transformed it into a business dedicated to helping others. Building upon his experience as a medical cannabis patient and as founding partner of Emblem Corp. Mr. Zavet is dedicated to cultivating the highest quality, unique cannabis products for both medical and recreational purposes. Mr. Zavet is Toronto-based and holds a J.D. from the University of Windsor Law School.

Dennis Mills

Mr. Mills was a director of Pacific Rubiales Energy Corp. and was Vice Chairman and Chief Executive Officer of MI Developments Inc. from 2004 to 2011, and a Vice President at Magna International from 1984 to 1987. Mr. Mills served as a Member of Parliament in Canada's federal parliament from 1988 to 2004. His positions in the federal parliament included: Parliamentary Secretary to the Minister of Industry (1993 to 1996). He is currently on the boards of Hut 8 Mining Corp. (TSXV – HUT) and CGX Energy Inc. (TSV – OYL).

ADDITIONAL TERMS

A comprehensive news release with further particulars relating to the Proposed Transaction, financial particulars, descriptions of the proposed management of the Resulting Issuer and QT Financing will follow in accordance with the policies of the Exchange.

All information contained in this news release with respect to Apolo and Terrace was supplied by the parties respectively, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

The Apolo Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news 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 any jurisdiction in which such offer, solicitation or sale would be unlawful.

FORWARD LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the Corporation's future plans and intentions, statements with respect to receipt of IRCCA approval, and statements with respect to the completion of the Proposed Transaction and the QT Financing, including the use of proceeds therefrom. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

For further information please contact:

Apolo II Acquisition Corp.
Vincent Gasparro, CEO and Director
Telephone: 416.361.3121

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

 

Categories: State

Joint Ventures are Leading the Cannabis Beverage Space into the Future; Sproutly Canada (CSE: SPR) (OTCQB: SRUTF), Hexo Corp., Canopy Growth

6 hours 18 min ago

POINT ROBERTS, Wash., Nov. 13, 2018 (GLOBE NEWSWIRE) -- Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks releases a sector snapshot with a focus on the recent JV’’s (joint ventures) and investments in the cannabis infused beverage market.

Why the urgency to invest and partner in the space? Multiple sources including Business Insider quoted recent market projections from Canaccord Genuity reporting,” Marijuana-infused beverages could become a $600 million market in the US in the next four years and big beverage makers are looking to take advantage of that opportunity.”

“Revenue from cannabis beverages could outpace the general demand for cannabis products by over two times, capturing 20% of the market for marijuana edibles by 2022, according to the analysts.”

Most recent JV news hitting the sector; Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF)  (FRA: 38G) just announced that it has entered into a letter of intent with Global Canna Labs Limited, the Caribbean’s largest medical cannabis producer, to establish a joint venture for the purpose of developing, producing, distributing, marketing and selling cannabis infused beverages, edibles and topical products derived from Sproutly’s fully licensed, APP Technology.

From the news: “Partnering with Global Canna Labs on this joint venture allows Sproutly to expand its business outside of Canada with a leading, low cost cannabis cultivator in Jamaica that has proven distribution in across the Caribbean and expanding into the European Union,” said Keith Dolo, Chief Executive Officer and Director of Sproutly. “This partnership will enable Sproutly to diversify its product portfolio and accelerate its global distribution network from a low-cost regulated jurisdiction.”

Continued: “Paul Glavine, Chief Executive Officer of Global Canna Labs said, “We are eager to roll out this partnership with Sproutly on their APP technology. We have explored a number of options regarding extraction and cannabis technology solutions for beverage and derivative products – APP Technology is in our view the superior choice for beverage formulations.  With our current supply and expansion plans to over 1 million square feet of cultivation, we see this partnership with Sproutly as a step towards utilization of our large-scale production towards a finished-product strategy.”

In early October, a substantial JV cannabis beverage announcement came from Molson Coors Canada (MCC), the Canadian business unit of Molson Coors Brewing Company, and HEXO Corp. (TSX: HEXO) (OTC:HYYDF). They reported the formation of a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization. 

The joint venture, Truss, is led by former Molson Coors executive, Brett Vye, in the role of Chief Executive Officer. Vye reports to the Truss board of directors consisting of three members appointed by MCC and two members appointed by HEXO. 

Mark Hunter, President and CEO of Molson Coors was quoted in an article earlier this month saying “clearly there are lots of numbers being bandied around with regard to the potential size of the cannabis market in Canada.” He went on to say, “I think, if you take the average, then it suggests that the market may be somewhere between $7 billion and $10 billion in market value, with beverages somewhere between 20% and 30%, and that’s obviously non-alcoholic cannabis infused beverages. Even if you take the low end of that estimate, then it suggests that the beverages segment could be circa $1.5 billion of value. We’re well placed to take a meaningful share of that segment.”

Not only are many companies looking to be the first to the beverage market, whether locally or internationally, but the consumer demand seems to be pushing that direction as well.

According to one survey, “76% of US and Canadian’s surveyed said they would use legal cannabis-infused products for therapeutic reasons, with nearly a quarter indicating that they'd try recreational cannabis via skincare products like lotions, creams and lip balms. 41% of the participants said they'd be more likely to try recreational cannabis through food, slightly higher than the 39% of those surveyed who said they would smoke it.”

There has been heavy investment into this concept, the largest example being the $5 Billion CAD [$4 Billion USD] investment from Constellation Brands into Canopy Growth Corp. (NYSE:CGC) (TSX:WEED), though speculation continues around Coca Cola’s interest in the Cannabis sector.

In a recent CBC article, Bruce Linton, the founder and co-CEO of Canopy Growth said ”new products developed by Tweed represent the next big opportunity.”

Continued: "I think if you're not preparing things two years in advance, you're never ready," he said. "Right now, none of the chocolate or gummy bears or beverages can be prepared or sold, but we're doing experiments on how to make them."

Walmart, much like Coca Cola, according New Frontier Data “has also led some investigation into the cannabis market for although Walmart does not sell CBD products, it does sell a variety of hemp-derived products; such as hemp oil, hemp soap, and hemp fiber.”

Continued: “At present, none of these large hemp companies sell CBD-related products, but look for some of them to start in 2019 as several leading brands look to expand their product offering into hemp-derived CBD to capitalize on mass market distribution opportunities. For now, all eyes are on the Farm Bill and FDA to give mass markets retailers, like Walmart, the green light to begin selling hemp products with CBD.”

As countries race to allow new legalization for cannabis, companies in the sector continue to push to be leading innovators. The next year offers the potential  passing of the 2018 Farm Bill as well as the legalization of edibles  and beverages  in Canada on October 2019, which could see consumers very close to their first ‘cannabeverage’.

Investors can expect to see more money flow and JV’s as the sector ramps up.

Investor Ideas stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks

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Categories: State

Tecogen Announces Third Quarter 2018 Results

7 hours 18 min ago

Reporting a 14% increase in Product Sales

WALTHAM, Mass., Nov. 13, 2018 (GLOBE NEWSWIRE) -- Tecogen® Inc. (NASDAQ:TGEN), a leading manufacturer of clean energy products which, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint, reported revenues of $7,938,684 for the quarter ended September 30, 2018 compared to $8,501,198 for the same period in 2017, a 6.6% decline in top line revenue. Energy production revenue from the sites of our wholly-owned subsidiary, American DG Energy, contributed $1,459,820 in revenue to the quarterly result. Consolidated gross profit for the third quarter of 2018 was $2,883,098 compared to $3,258,031 in the third quarter of 2017, a decrease of 11.5% in overall gross profit year over year.

Revenue results were highlighted by growth in product sales of 14.0%, helped by significant progress in our chiller sales segment. Total services related revenues for the third quarter of 2018 declined by 17.8% over the prior year period, primarily due to decreased installation activity.

The third quarter saw a decline in cogeneration sales as more attention is focused on rapidly growing market segments for our gas engine chiller products. We are currently expanding our gas chiller line with an ammonia-based refrigeration product called TecoFrost used for industrial cooling applications such as cold storage and ice production. We anticipate reaching market with TecoFrost production in early 2019.

Product gross margin improved to 38.7% for the third quarter of 2018 compared to 36.6% for the same period in 2017. Combined products and services gross margin remained level at 35% for the third quarters of both 2018 and 2017. Overall gross margin for the quarter was 36.3% compared to 38.3% in the third quarter of 2017, within management's targeted 35-40% gross margin range.

Adjusted non-GAAP EBITDA(1), excluding the unrealized gain or loss on EuroSite Power Inc.'s shares owned by American DG Energy, stock-compensation expense and merger related expenses, was negative $258,655 for the third quarter of 2018 versus positive $295,755 for the third quarter of 2017, a difference of $554,410. (Adjusted EBITDA is defined as net income or loss attributable to Tecogen, adjusted for interest, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on equity securities and merger related expenses. See table following the statements of operations for a reconciliation from net income (loss) to Adjusted EBITDA as well as important disclosures about the company's use of Adjusted EBITDA).

On a combined basis, operating expenses increased to $3,445,410 for the third quarter 2018 from $3,172,492 in the third quarter of 2017. An increase in research and development expenses of 16.3% to $281,094, and selling expenses which rose 15.6% to $581,716, along with an increase in G&A costs, accounted for this increase.

The increased expenses for the quarter are partially attributable to the Company’s investment in the future through research and development, as discussed in the "Emissions Technology" section below and selling activities with such expenses increasing year over year. We have also realized an increase in general and administrative expenses of year over year.

Loss from operations was $562,312 compared to income of $85,539 in the prior year comparable period. Similarly, net loss attributable to the Company for the quarter was $603,037 compared to comprehensive income for the quarter ended September 30, 2017 of $66,572, a difference of $669,609.

“While we are disappointed with the drop in overall revenues, the third quarter saw a lot of progress in terms of positioning the company for future growth,” commented Benjamin Locke, CEO.  “Our increase in product sales is due to our focused sales activity around our exclusive gas engine cooling systems, and in October we announced a plan for continued development of our Ultera emissions system with our forklift partner, Mitsubishi Caterpillar Forklift America Inc.  We expect product sales and overall revenues in our core business to rebound as we execute on our plans to expand our chiller product line, and we anticipate initiating a fleet retrofit project with our forklift partner in 2019.”

Backlog of products and installations was $15.7 million as of the end of the third quarter of 2018 and stood at $20.2 million as of November 9, 2018. Given the importance of our growing chiller sales segment, we are pleased to announce our chiller backlog was $6.3 million of product as of November 9, 2018, all of which is expected to ship by mid-2019.

Major Highlights:

Financial

  • As of the end of Q3 2018, on a trailing four quarters basis, revenue was $37 million showing revenue growth of 23% year over year and gross profit was $13.7 million.

  • Product revenue for the third quarter increased by 14% over the third quarter of 2017, with chiller product sales increasing by 89%, to $1,101,216 for the third quarter of 2018 compared to $583,431 for the same period in 2017, underscoring the growing interest in our chiller products.  Revenue from services and energy production declined by 17.8% and 6.2% respectively during the third quarter of 2018 compared to the third quarter of 2017.

  • Overall gross margin was 36.3% for the third quarter of 2018 compared to 38.3% for the third quarter of 2017, resulting from the combination of an increase in product gross margin, and decreases in gross margins for services and energy production.

  • Product gross margin was 38.7% for the third quarter of 2018 compared to 36.6% for the third quarter of 2017. Product gross margin was primarily helped by the materials and supplier arrangements put in place in previous quarters.

  • Service gross margin declined to 32.2% in the third quarter of 2018 compared to 34.0% for the third quarter of 2017. Service gross margin is impacted by margins realized on installation projects.

  • Energy production gross margin for the third quarter of 2018 was 42.3% compared with the previous year's third quarter, which was an exceptionally strong 53.5% due to a one-time incentive payment received in the third quarter of 2017. The margin for the third quarter of 2018 is consistent with management's expectations.

  • Net loss attributable to Tecogen for the three months ended September 30, 2018 was $603,037 compared to income of $27,211 for the same period in 2017 and comprehensive income of $66,572 for the same period in 2017.

  • Net loss per share was $0.02 for the three months ended September 30, 2018 and $0.00 for the comparative period in 2017.

  • Current assets at quarter end of $22,925,281 were more than twice current liabilities of $11,340,611. Current liabilities as of September 30, 2018 included $1,708,888 of short-term debt on the Company's revolving line of credit.

Sales & Operations

  • Product revenues increased 14.0% from the same period in 2017 primarily due to a continued high demand for our gas fired chillers.

  • First nine months of 2018 chiller sales increased 77.3% over the first nine months of 2017 and current chiller backlog increased to $6.3 million.

  • Advanced discussions with production partner to re-launch TecoFrost to meet the growing demand for natural gas cooling using ammonia refrigerants for cold storage and other premium chiller applications.

  • Received order to replace outdated TecoChill system at University of Connecticut with 4-400 ton system ensuring continued long-term service revenues with the University.

  • Current sales backlog of equipment and installations as of November 9, 2018 is $20.2 million, driven by strong traction in both the InVerde and TecoChill product lines, as well as installation services.  As of September 30, 2018, the backlog was $15.7 million compared to $14.5 million as of September 30, 2017, showing a sustainable backlog at this level.

Emissions Technology

  • Presented scientific paper on forklift truck program results at the World LPG Forum to an international audience of propane industry executives.  Presentation described successful emissions reductions on a forklift provided by manufacturing partner, Mitsubishi Caterpillar Forklift America Inc. (MCFA), a leading manufacturer of forklift trucks, supplying a full line throughout North, South and Central America.

  • Developing next phase development program with MCFA that includes incorporating alternative engine control software for optimizing conditions for the Ultera process. The test software, under development by MCFA in Japan, is expected to lead to additional emission reductions on the forklift prototype at Tecogen,  after which it will be returned to MCFA in Houston for additional testing.

  • Provided a proposal to the Propane Education and Research Council (PERC), to provide funding for next phase to support the ongoing MCFA development tasks.

  • Third party compliance testing was completed for most of the Ultera-equipped generators located in Southern California (one remains to be tested). All were found compliant, meeting the final requirement for their air permits. Ultera kits we sold to this customer for retrofit into their onsite natural gas generators to allow the generators to be permitted for continuous operation resulted in the first natural gas engines permitted to these levels - which we believe to be the strictest in existence - without hourly restriction or special exemption.

  • Continuing development work for on-road mobile applications of Ultera under company funded subcontract to a highly-respected, independent institution that specializes in powertrain research.  The research focused on a specialized catalyst formulation expected to promote improved removal of the major categories of criteria pollutants (NOx, CO and hydrocarbons). We are currently discussing the specific formulation with a researcher having the ability to produce a test sample.

Commenting on the progress of the Ultera technology platform, Robert Panora, President and COO noted, “The successful implementation of our Ultera emissions technology on a commercial forklift truck provided by the manufacturing sponsor, MCFA, validates key components of the Ultera system.  Importantly, the results are directly translatable to our effort to develop Ultera for automotive applications. We are excited with our progress this quarter.”

Conference Call Scheduled for Today at 11:00 am ET

Tecogen will host a conference call today to discuss the third quarter results beginning at 11:00 am eastern time.  To listen to the call dial (877) 407-7186 within the U.S. and Canada, or (201) 689-8052 from other international locations.  Participants should ask to be joined to the Tecogen third quarter 2018 earnings call.  Please begin dialing 10 minutes before the scheduled starting time.  The earnings press release will be available on the Company website at www.Tecogen.com in the "News and Events" section under "About Us." The earnings conference call will be webcast live. To view the associated slides, register for and listen to the webcast, go to https://ir.tecogen.com/financial-results.  Following the call, the webcast will be archived for 30 days.

The earnings conference call will be recorded and available for playback one hour after the end of the call through November 27, 2018.  To listen to the playback, dial (877) 660-6853 within the U.S. and Canada, or (201) 612-7415 from other international locations and use Conference Call ID#: 13672659.

About Tecogen

Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including natural gas engine-driven combined heat and power, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company is known for cost efficient, environmentally friendly and reliable products for energy production that, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer’s carbon footprint.

In business for over 35 years, Tecogen has shipped more than 3,000 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.

Tecogen, InVerde, e+, Ilios, Tecochill, and Ultera are registered or pending trademarks of Tecogen Inc.

Forward Looking Statements

This press release and any accompanying documents, contain “forward-looking statements” which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as "believe," "expect," "anticipate," "intend," "plan,"  "estimate," "project," "target," "potential," "will," "should," "could," "likely," or "may" and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements.

In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors”, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth.

In addition to GAAP financial measures, this press release includes certain non-GAAP financial measures, including adjusted EBITDA which excludes certain expenses as described in the presentation.  We use Adjusted EBITDA as an internal measure of business operating performance and believe that the presentation of non-GAAP financial measures provides a meaningful perspective of the underlying operating performance of our current business and enables investors to better understand and evaluate our historical and prospective operating performance by eliminating items that vary from period to period without correlation to our core operating performance and highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures.

Tecogen Media & Investor Relations Contact Information: 

Benjamin Locke
P: 781-466-6402
E: Benjamin.Locke@tecogen.com

  TECOGEN INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)  September 30, 2018 December 31, 2017ASSETS   Current assets:   Cash and cash equivalents$136,717  $1,673,072 Accounts receivable, net11,548,663  9,536,673 Unbilled revenue4,441,565  3,963,133 Inventory, net5,983,067  5,130,805 Due from related party—  585,492 Prepaid and other current assets815,269  771,526 Total current assets22,925,281  21,660,701 Property, plant and equipment, net11,107,509  12,265,711 Intangible assets, net2,935,279  2,896,458 Goodwill13,365,655  13,365,655 Other assets427,810  482,551 TOTAL ASSETS$50,761,534  $50,671,076     LIABILITIES AND STOCKHOLDERS’ EQUITY   Current liabilities:   Revolving line of credit, bank$1,708,888  $— Accounts payable5,716,426  5,095,285 Accrued expenses2,196,921  1,416,976 Deferred revenue1,718,376  1,293,638 Loan due to related party—  850,000 Interest payable, related party—  52,265 Total current liabilities11,340,611  8,708,164 Long-term liabilities:   Deferred revenue, net of current portion343,031  538,100 Unfavorable contract liability, net6,534,074  7,729,667 Total liabilities18,217,716  16,975,931     Commitments and contingencies (Note 10)       Stockholders’ equity:   Tecogen Inc. stockholders’ equity:   Common stock, $0.001 par value; 100,000,000 shares authorized;
24,819,646 and 24,766,892 issued and outstanding at September
30, 2018 and December 31, 2017, respectively24,819  24,767 Additional paid-in capital56,371,583  56,176,330 Accumulated other comprehensive loss-investment securities—  (165,317)Accumulated deficit(24,298,191) (22,796,246)Total Tecogen Inc. stockholders’ equity32,098,211  33,239,534 Noncontrolling interest445,607  455,611 Total stockholders’ equity32,543,818  33,695,145 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$50,761,534  $50,671,076  


 TECOGEN INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(unaudited)  Three Months Ended September 30, 2018 September 30, 2017Revenues   Products$2,765,094  $2,425,616 Services3,713,770  4,519,467 Energy production1,459,820  1,556,115 Total revenues7,938,684  8,501,198 Cost of sales   Products1,695,347  1,538,515 Services2,517,210  2,981,454 Energy production843,029  723,198 Total cost of sales5,055,586  5,243,167 Gross profit2,883,098  3,258,031 Operating expenses   General and administrative2,582,600  2,427,352 Selling581,716  503,415 Research and development281,094  241,725 Total operating expenses3,445,410  3,172,492 Income (loss) from operations(562,312) 85,539 Other income (expense)   Interest income and other expense, net4,168  14,849 Interest expense(33,380) (45,242)Unrealized gain on investment securities19,681  — Total other expense, net(9,531) (30,393)Income (loss) before provision for state income taxes(571,843) 55,146 Provision for state income taxes3,815  — Consolidated net income (loss)(575,658) 55,146 Income attributable to the noncontrolling interest(27,379) (27,935)Net income (loss) attributable to Tecogen Inc.$(603,037) 27,211 Other comprehensive income - unrealized gain on securities  39,361 Comprehensive income  $66,572     Net loss per share - basic and diluted$(0.02) $0.00 Weighted average shares outstanding - basic24,819,056  24,720,613 


Non-GAAP financial disclosure (1)   Net loss attributable to Tecogen Inc.$(603,037) $27,211 Interest & other expense, net9,531  30,393 Income taxes3,815  — Depreciation & amortization, net199,938  160,061 EBITDA(389,753) 217,665 Stock based compensation55,330  40,645 Merger related expenses75,768  37,445 Adjusted EBITDA$(258,655) $295,755  


 TECOGEN INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(unaudited)  Nine Months Ended September 30, 2018 September 30, 2017Revenues   Products$8,922,257  $8,349,159 Services12,894,439  12,259,037 Energy production4,750,580  2,330,307 Total revenues26,567,276  22,938,503 Cost of sales   Products5,596,272  5,261,245 Services8,262,104  7,464,193 Energy production2,828,405  1,053,741 Total cost of sales16,686,781  13,779,179 Gross profit9,880,495  9,159,324 Operating expenses   General and administrative8,122,856  7,042,500 Selling1,892,229  1,558,378 Research and development993,102  641,064 Total operating expenses11,008,187  9,241,942 Loss from operations(1,127,692) (82,618)Other income (expense)   Interest and other income7,926  21,033 Interest expense(56,195) (115,026)Unrealized loss on investment securities(59,042) — Total other expense, net(107,311) (93,993)Loss before provision for state income taxes(1,235,003) (176,611)Provision for state income taxes3,815  — Consolidated net loss(1,277,682) (176,611)Income attributable to the noncontrolling interest(58,946) (44,933)Net loss attributable to Tecogen Inc.$(1,336,628) (221,544)Other comprehensive loss - unrealized loss on securities  (184,998)Comprehensive loss  $(406,542)    Net loss per share - basic and diluted$(0.05) $(0.01)Weighted average shares outstanding - basic and diluted24,813,936  22,643,406 


Non-GAAP financial disclosure (1)   Net loss attributable to Tecogen Inc.$(1,336,628) $(221,544)Interest & other expense, net107,311  93,993 Depreciation & amortization, net586,188  402,939 EBITDA(600,450) 275,388 Stock based compensation133,808  138,329 Merger related expenses181,935  156,298 Adjusted EBITDA$(284,707) $570,015  


 TECOGEN INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)  Nine Months Ended September 30, 2018 September 30, 2017CASH FLOWS FROM OPERATING ACTIVITIES:   Consolidated net loss$(1,277,682) $(176,611)Adjustments to reconcile net loss to net cash used in operating activities:   Depreciation, accretion and amortization, net586,188  402,939 Gain on contract termination(124,732) — Provision on inventory reserve1,000  43,609 Stock-based compensation133,808  138,329 Non-cash interest expense—  577 Loss on sale of assets13,343  2,909 Provision for losses on accounts receivable4,395  8,000 Changes in operating assets and liabilities, net of effects of acquisitions   (Increase) decrease in:   Accounts receivable(1,840,150) (1,908,655)Unbilled revenue(245,892) (776,365)Inventory, net(853,262) (1,279,847)Due from related party585,492  (236,971)Prepaid expenses and other current assets(43,743) (18,673)Other non-current assets54,741  (32,251)Increase (decrease) in:   Accounts payable(262,925) 1,641,206 Accrued expenses and other current liabilities779,945  (233,824)Deferred revenue185,059  407,379 Interest payable, related party(52,265) 21,378 Net cash used in operating activities(2,356,680) (1,996,871)CASH FLOWS FROM INVESTING ACTIVITIES:   Purchases of property and equipment(273,814) (315,205)Proceeds from sale of assets3,606  — Purchases of intangible assets(203,648) (34,551)Cash acquired in asset acquisition442,746  971,454 Expenses associated with asset acquisition(900) — Payment of stock issuance costs(908) (367,101)Distributions to noncontrolling interest(68,950) (31,362)Net cash provided by (used in) investing activities(101,868) 223,235 CASH FLOWS FROM FINANCING ACTIVITIES:   Proceeds from revolving line of credit12,550,590  — Payments on revolving line of credit(10,696,691) — Payments for debt issuance costs(145,011) — Proceeds from the exercise of stock options63,305  128,918 Payment on loan due to related party(850,000) — Net cash provided by financing activities922,193  128,918 Change in cash and cash equivalents(1,536,355) (1,644,718)Cash and cash equivalents, beginning of the period1,673,072  3,721,765 Cash and cash equivalents, end of the period$136,717  $2,077,047     Supplemental disclosures of cash flows information:   Cash paid for interest$112,460  $95,550 Cash paid for taxes$44,864  $— Issuance of stock to acquire American DG Energy$—  $18,745,007 Issuance of Tecogen stock options in exchange for American DG Energy options$—  $114,896 

(1) Non-GAAP Financial Measures
In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, depreciation and amortization, stock based compensation expense, unrealized gain or loss on investment securities and merger related expenses), which is a non-GAAP measure.  The Company believes EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results.  EBITDA is not calculated through the application of GAAP.  Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure.  The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.

Categories: State

Mezzotin Minerals Inc. Announces Proposed Reverse Takeover By Indus Holding Company

7 hours 48 min ago

Not for distribution to United States newswire services or for release publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States.

TORONTO and SALINAS, Calif., Nov. 13, 2018 (GLOBE NEWSWIRE) -- Mezzotin Minerals Inc. [NEX: MEZ.H] ("Mezzotin" or the "Company") is pleased to announce that it has entered into a binding letter agreement dated as of November 12, 2018  (the "Letter Agreement") with Salinas, California-based Indus Holding Company ("Indus"), a vertically integrated cannabis company with world-class production capabilities, including cultivation, extraction, manufacturing, brand sales & marketing, and distribution. The Letter Agreement outlines the proposed terms and conditions pursuant to which Mezzotin and Indus will effect a business combination that will result in a reverse takeover of Mezzotin by the security holders of Indus (the "Proposed Transaction"). The Letter Agreement was negotiated at arm's length.

“Having established ourselves as a leading cannabis manufacturer and distributor in the world’s largest cannabis economy, we are looking forward to growing internationally,” said Indus co-founder and Chief Executive Officer, Robert Weakley. “Canada is a forward-thinking nation when it comes to recreational cannabis, and we welcome the opportunity to add our company’s collective expertise to their fast-growing industry.”

Founded in 2014, Indus offers services supporting every step of the supply chain and an extensive portfolio of products, including Altai Brands, Dixie, Moon, Beboe, Acme Elixirs, and Legal. Indus Distribution, a division of Indus, is a leading distributor of cannabis products, servicing brands and licensed retailers throughout California.

Terms of the Transaction

The Proposed Transaction will be structured as an amalgamation, arrangement, takeover bid, share purchase or other similar form of transaction or series of transactions that have a similar effect with Mezzotin acquiring all securities of Indus. The final structure for the Proposed Transaction is subject to satisfactory tax, corporate and securities law advice for both Mezzotin and Indus.

Completion of the Proposed Transaction is subject to a number of conditions, including, without limitation, receipt of all necessary shareholder, third party and regulatory approvals, satisfactory completion of due diligence, the execution of definitive transaction documents, the delisting of the common shares of Mezzotin from the NEX Board of the TSX Venture Exchange and conditional approval to list the equity shares (the "Resulting Issuer Shares") of the issuer resulting from the Proposed Transaction (the "Resulting Issuer") on the Canadian Securities Exchange (the "CSE").

Indus intends to undertake a debt and/or equity financing in conjunction with the Proposed Transaction, including a brokered private placement (the "Concurrent Financing") of subscription receipts (the "Subscription Receipts"), either directly or through a special-purpose financing corporation (“FinanceCo”), upon terms to be determined. Indus has engaged Beacon Securities Limited to act as lead agent and sole bookrunner in connection with the Concurrent Financing. The Subscription Receipts are proposed to be exchanged for securities of Indus or FinanceCo, as applicable, upon the satisfaction of certain conditions, which shall in turn be exchanged for securities of the Resulting Issuer upon completion of the Proposed Transaction.

It is anticipated that in connection with the Proposed Transaction, the existing common shares of Mezzotin (“Existing Mezzotin Shares”) shall be redesignated as a new class of subordinate voting shares of the Resulting Issuer to be created (“Pubco Subordinate Voting Shares”) on a basis that results in the holders of Existing Mezzotin Shares at the closing of the Proposed Transaction holding, in the aggregate, Pubco Subordinate Voting Shares having a value of CDN$2.25 million less the amount of Mezzotin’s working capital deficiency (exclusive of certain transaction costs and liabilities), such valuation to be determined on the basis of the effective per share value of the Concurrent Financing converted to Canadian dollars. 

Under the Proposed Transaction: (i) non-U.S. shareholders of Indus will exchange their shares for Pubco Subordinate Voting Shares and U.S. shareholders of Indus will exchange their shares for a newly created class of subordinate voting shares of a subsidiary of the Resulting Issuer which are convertible into Pubco Subordinate Voting Shares, in each case on a 1:1 basis; (ii) FinanceCo, if used in connection with the Concurrent Financing, shall be acquired by Mezzotin pursuant to a three-cornered amalgamation; (iii) designated founders of Indus shall subscribe for non-participating, super-voting shares of the Resulting Issuer (“Super Voting Shares”) carrying voting rights that would, in the aggregate, represent in excess of 90% of the voting rights of the Resulting Issuer upon completion of the Proposed Transaction and on a fully diluted basis; and (iv) stock options, warrants and other convertible securities of Indus shall be exchanged for securities of the Resulting Issuer such that, upon the exercise or conversion thereof, the holders will receive Pubco Subordinate Voting Shares on an economically equivalent basis in lieu of securities of Indus.

In connection with the Proposed Transaction, the Company will be required to, among other things: (i) change its name to a name requested by Indus and acceptable to applicable regulatory authorities; (ii) replace all directors and officers of the Company on closing of the Proposed Transaction with nominees of Indus; (iii) receive approval to delist the Existing Mezzotin Shares from the NEX Board of the TSX Venture Exchange; (iv) redesignate the Existing Mezzotin Shares as (or convert such shares into) Pubco Subordinate Voting Shares; (v) create the new class of Super Voting Shares; and (vi) receive approval to list the Resulting Issuer Shares on the CSE.

Upon successful completion of the Proposed Transaction, Mezzotin will be required to pay a finder’s fee to an arm’s length party in Existing Mezzotin Shares equal to 9.99% of the number of Existing Mezzotin Shares to be outstanding immediately prior to the completion of the Proposed Transaction (after giving effect to the issuance of the finder’s fee shares).

Further details of the Proposed Transaction will be included in subsequent news releases and disclosure documents (which will include business and financial information in respect of Indus), including a CSE listing statement, to be filed by the Company in connection with the Proposed Transaction. It is anticipated that a special shareholders' meeting of the Company to approve, among other matters, any necessary matters related to the Proposed Transaction and closing of the Proposed Transaction will take place in the first quarter of 2019.

Trading in the Existing Mezzotin Shares has been halted and will remain halted until all necessary filings have been accepted by applicable regulatory authorities.

For more information please contact:

Mezzotin: Indus:   Lawrence Schreiner
Chief Financial Officer
Phone: (416) 496-3077
E-mail: lschreiner@manbancorp.com E-mail: pr@indusholdingco.com

About Indus Holding Company

INDUS Holding Company is a vertically integrated cannabis company with world-class production capabilities, including cultivation, extraction, manufacturing, brand sales & marketing, and distribution. Founded in 2014 by hospitality veteran Robert Weakley and based in Salinas, California, INDUS offers services supporting every step of the supply chain and an extensive portfolio of award-winning brands, including Altai Brands, Dixie, Moon, Beboe, Acme Elixirs, and Legal. INDUS Distribution, a division of INDUS Holding Company, is a leading distributor of cannabis products, servicing an extensive portfolio of brands and licensed retailers throughout California.

About Mezzotin Minerals, Inc.

Mezzotin Minerals Inc. is a junior company listed on the NEX Board of the TSX Venture Exchange in Canada. The Company recently sold its mineral properties in Zimbabwe, comprising substantially all of its assets, and has subsequently been actively seeking merger and acquisition opportunities.

All information contained in this news release with respect to Indus was supplied by Indus for inclusion herein and the Company has relied on the accuracy of such information without independent verification.

As noted above, completion of the Proposed Transaction is subject to a number of conditions, including receiving approval to list the Resulting Issuer Shares on the CSE. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or listing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Mezzotin, Indus or FinanceCo should be considered highly speculative.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) has in any way passed upon the merits of the Proposed Transaction nor accepts responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking  statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's and Indus’ beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's and Indus’ control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the Proposed Transaction, the Concurrent Financing, expectations regarding whether the Proposed Transaction will be consummated, including whether conditions to the consummation of the Proposed Transaction will be satisfied, the timing for holding the special meeting of shareholders of the Company and the timing for completing the Proposed Transaction, expectations for the effects of the Proposed Transaction or the ability of the combined company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company and Indus are alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and Indus to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company and Indus have made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability to consummate the Proposed Transaction and the Concurrent Financing; the ability to obtain requisite regulatory, third party and security holder approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction on the proposed terms and schedule; the ability to complete the Concurrent Financing or to the conversion of the Subscription Receipts; the potential impact of the announcement or consummation of the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Proposed Transaction and the Concurrent Financing. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and neither the Company nor Indus undertakes to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company, Indus or persons acting on their behalf are expressly qualified in its entirety by this notice.

Categories: State

Lexaria Targets Cannabinoids, Tobacco, Hemp, and Pharma Markets with New Subsidiaries -- CFN Media

7 hours 48 min ago

SEATTLE, Nov. 13, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Lexaria Bioscience Corp. (CSE: LXX) (LXX: CN) (CNSX: LXX) (OTCQX: LXRP). The company’s DehydraTECH drug delivery platform could deliver a three-fold improvement to the bioavailability of cannabinoids, which could be compelling for both medical and recreational companies. In addition, the company believes that the platform has even wider implications across the pharmaceutical and tobacco industries—potentially unlocking billions of dollars in market potential.

The cannabis industry is projected to generation hundreds of billions of dollars of revenue over the coming years, driven by the legalization of medical and recreational cannabis across North America. While many investors are focused on cultivation or dispensary operations, drug delivery technologies may represent an even bigger opportunity. These companies have an opportunity to license their technology and earn high-margin royalties from the industry.

Divide and Conquer

Lexaria recently announced the creation of four wholly-owned subsidiaries, each focused on distinct customer bases and business applications. By establishing different subsidiaries, the company will be able to better-focus its research efforts in each area and different financing structures can be used depending on the situation. These different market opportunities could also be spun off much easier down the road.

The four new subsidiaries include:

  • Lexaria CanPharm Corp.: Lexaria CanPharm Corp. is a Canadian company focused on providing DehydraTECH technology and other enhancements to the global cannabis industry. Currently, the company is in active discussions related to licensing its technology to companies located in Canada, the U.S., and Europe.

  • Lexaria Nicotine Corp.: Lexaria Nicotine Corp. is a U.S. company focused on providing DehydraTECH technology to the global nicotine and tobacco industries. Since 2017, the company has had discussions with several leading tobacco companies around the world and will continue to work towards healthier consumer outcomes.

  • Lexaria Hemp Corp.: Lexaria Hemp Corp. is a U.S. company focused on providing DehydraTECH to the rapidly growing hemp-based food and supplements industry. Currently, the company is in discussions with many companies regarding the use of CBD-from-hemp products in the U.S. and Canada.

  • Lexaria Pharmaceutical Corp.: Lexaria Pharmaceutical Corp. is a U.S. company focused on licensing DehydraTECH to the large and diverse pharmaceutical sectors, including pain relief, vitamins, PDE5 inhibitors, hormone treatments, CNS conditions, and many other medical conditions.

The company’s growing patent portfolio - already 10 patents granted and over 50 pending - will be divided across these subsidiaries to maximize potential licensing revenue.

DehydraTECH’s Advantage

Lexaria’s proprietary DehydraTECH drug delivery platform is designed to improve the bioavailability of active pharmaceutical ingredients (APIs), as well as make dosing more predictable across patient populations.

By combining APIs with fatty acid oil, applying food carrier particles, and performing a dehydration procedure, the technology masks the taste of underlying ingredients and ensures quick and effective transportation into the bloodstream without degradation in the stomach or liver (e.g. first pass metabolism). Early animal studies have shown that the approach could significantly improve the bioavailability of a wide range of APIs—including cannabinoids.

In a recent clinical study, cannabidiol (CBD) absorption rates were more than three-times higher than the control at the 30-minute mark and continued to significantly surpass control blood level concentrations through the 360-minute measurement. Interestingly, the CBD absorption was even better than GW Pharmaceuticals’ Mount Sinai study, which used much higher doses of 400 mg and 800 mg to achieve lower blood concentrations.

Looking Ahead

Lexaria Bioscience Corp.’s (CSE: LXX) (LXX: CN) (CNSX: LXX) (OTCQX: LXRP) decision to establish four new subsidiaries will help it capitalize on different market opportunities.

In addition to these developments, the company announced that it will utilize its wholly-owned Poviva Tea Corp. to advance existing ViPova Tea and Coffee consumer brands. Recent legislation in the U.S. supports the possibility of renewed distribution for these brands. These developments could help improve revenue over the intermediate-term.

For more information, visit the company’s website.

Please follow the link to read the full article: http://www.cannabisfn.com/lexaria-targets-cannabinoids-tobacco-hemp-pharma-markets-new-subsidiaries/

Disclaimer

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/

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

NexTech AR Brings Augmented Reality to Cannabis -- CFN Media

7 hours 48 min ago

SEATTLE, Nov. 13, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing NexTech AR Solutions Inc. (CSE: NTAR). The company is taking a unique approach to educating consumers on how to choose the right strain and right consumption device to suit their needs.

The cannabis industry is projected to surpass $75 billion by 2030, according to Cowen & Co., driven by the legalization of both medical and adult-use marijuana. While just over half of Americans have used cannabis at some point in their life, cannabis companies face an uphill battle educating those that haven’t recently tried cannabis.

NexTech AR’s ARitize™ app was launched in August 2018 to provide an advertising and education platform to cannabis brands and retailers, making it one of the only companies to combine the multi-billion dollar cannabis and augmented reality industries. According to Statistica, the virtual and augmented reality market is projected to reach $209 billion by 2022, as customers embrace these new technologies as a way to better connect with content and brands.

Educating Consumers

The cannabis industry can be a confusing place for experts—much less consumers without any experience. During prohibition, cannabis consumers rarely knew the type of cannabis that they were consuming apart from catchy nicknames, like Sour Diesel or Blue Dream. There were lab tests to differentiate between indica and sativa or supply chain to ensure that you were receiving the advertised ratio of tetrahydrocannabinol (THC) to cannabidiol (CBD).

Legalization eliminated some of this uncertainty by establishing laboratory testing and labeling standards, but opened the door to thousands of new strains—each touting different effects and wellness benefits. There are so many choices at most dispensaries that it can be challenging for new consumers to know where to start or who to trust. Some dispensaries are even moving away from strain names to eliminate some of this confusion.

Augmented reality promises to help educate consumers through self-serve explanations and demonstrates. For example, a consumer might scan a certain brand with their smartphone and in 3D see a brand ambassador as a hologram explain the benefits in front of them with visual aids. Consumers could even see how consumption devices work, such as a 3D volumetric in-front-of-them demonstration on how to load a cartridge into a vaporizer.

Click here to meet Buddy the Holographic Budtender.

Numerous Benefits

Dispensaries can offer a fully-interactive shopping experience without having to rely on a large number of well-versed staff members. This can dramatically improve short-term sales through greater engagement with the customer, as well as long-term relationships by helping customers find products that accurately satisfy their medical or recreational needs. In the future, transactions could even occur directly through the smartphone.

Brands can leverage augmented reality to set themselves apart from the competition. Rather than relying on labeling to explain benefits, brands can produce compelling 3D AR content that captivates consumers and helps them select the best products for their needs. Cannabis companies that provide consumption device and ancillary products can similarly use augmented reality to explain how their products work.

Media companies can use augmented reality to reach more consumers, businesses, and industry participants as well. For instance, NexTech AR recently partnered with CFN Media to provide live augmented reality streaming of the New West Summit in Oakland, California on October 11-13, 2018. The company’s ARitize™ app enabled anyone around the world to see live streaming holograms from the event.

Significant Expertise

NexTech AR Solutions is a pioneer in bringing augmented reality and holographic teleportation to the cannabis market with a seasoned team. 

CEO Evan Gappelberg is a seasoned entrepreneur, hedge fund manager, and early cannabis industry participant that helped Future Farm Technologies expand its market cap over 20X before leaving to form NexTech AR Solutions and bringing it public October 31st, 2018.

President Paul Duffy invented Holographic Telepresence technology and has spent the past 25 years successfully starting, expanding, diversifying, and selling global technology companies, including one of the largest online learning and communication companies in North America.

COO Reuben Tozman has over 15 years operating product and engineering teams at an executive level. He has led large and geographically dispersed teams of people working alongside other executives to help drive results. Most recently Reuben was the VP of Product for Shutterstock Custom (previously Flashstock).

CTO Scott Jenkins, whom has 25 years of experience in the software industry, having been involved in both the product development and marketing of over 200 software properties internationally for a variety of companies, resulting in over $5B in combined sales. While serving as Creative Director at Acclaim Entertainment, Scott contributed to iconic industry franchises including Mortal Kombat, Marvel, The Simpsons, WWE/WWF, Turok, etc.

Looking Ahead

NexTech AR Solutions Inc. (CSE: NTAR) is well-positioned to capitalize on the burgeoning cannabis industry by providing next-generation augmented reality technology. With a veteran management team at the helm, the company has already made significant inroads into the industry where its products could help clients improve their sales and customer retention—all in a market that is becoming increasingly competitive.

For more information, visit the company’s website at www.nextechar.com.

Please follow the link to read the full article:

http://www.cannabisfn.com/nextech-ar-brings-augmented-reality-cannabis/?preview=true

Disclaimer

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/

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

MedTainer Issues Great Q: North American Picture Emerges

7 hours 48 min ago

CORONA, Calif., Nov. 13, 2018 (GLOBE NEWSWIRE) -- MedTainer™ Inc. (MDTR-OTCMARKETS) published their 3rd Quarter 10-Q today and report that gross sales in the quarter have increased approximately 22% compared to 3rd Quarter, 2017. This reflects the growing confidence that many of the licensed cannabis producers in Canada now have in the MedTainer and the MedX two-way humidity pack, offering a solution to the rigorous compliant packaging regulations in that country. Moreover, despite massive investment in infrastructure and preparation for steadily growing orders of Its’ signature product, the MedTainer™, operation losses in the last nine months of 2018 were approximately 1% year-over-year while amortizing the purchase of the MedTainer asset of $50,706 for the year.

The purchase of the entire MedTainer intellectual property portfolio, the purchase of new equipment, doubling the floor space of the factory and landing new business have conservatively increased the published value of the company by $2.5M as of September 30, 2018.

The 10-Q comes on the heels of the announcement that the Mexican ruling party has submitted legislation that would legalize cannabis for recreational use. MedTainer Inc. already has a distribution network set up in that country and is prepared to fully exploit the opportunity once the legislation becomes law. Inevitably, and as early as this spring, the US will change the current designation of cannabis and the entire North American continent will become the largest cannabis market in the world. As is shown in the 10-Q, MedTainer Inc. is perfectly positioned to become the lawful, safe and compliant packaging solution for that market.

For investor or sales information please visit MedTainer Inc. and D&C Distributors online or by phone. The company is located in their production and distribution facility at 1620 Commerce St. Corona, California, 92880.

MedTainer Inc. trades on the OTC under the call letters MDTR. The company’s websites are www.Medtainerinc.com for the hospice and palliative care industry and www.themedtainer.com for the recreational and medical marijuana industry. Orders for Acology products can be taken online and by phone. Custom orders are especially welcome.  Please send all inquiries to info@MedTainerinc.com or call 844-226-5649. Ask for Jack Rein, National Services Director.  MedTainer Inc. can also be accessed through Twitter and Instagram at @MedTainerinc

This press release includes statements that are covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events they are subject to risks and uncertainties and actual results for fiscal year 2016 and beyond could differ materially from the company’s current expectations. Forward-looking statements are identified by such words as “anticipates”, “projects”, “expects”, “planned”, “intends” and “believes” “estimate” “targets” and other similar expressions that indicate trends and future events. It is understood that investment entails risk on the part of the investor and could result in the loss of some or all his or her investment. 

Categories: State

Green Thumb Industries Inc. (GTI) Expands with the Acquisition of Integral Associates, Nevada’s Top Cannabis Operator

8 hours 18 min ago

The Acquisition Adds Operational Capacity, Distribution, Retail Footprint, and Best-of-Class Talent, Reinforcing GTI’s “Enter, Open, Scale” Strategy

  • Three nationally-recognized dispensaries, operating under the Essence brand, including the first and only dispensary on the Las Vegas Strip
  • Two world-class cultivation and processing facilities in 95,000 square feet: Desert Grown Farms and Cannabiotix NV
  • Exceptional talent, led by Integral Associates founder and CEO Armen Yemenidjian

CHICAGO and VANCOUVER, British Columbia, Nov. 13, 2018 (GLOBE NEWSWIRE) --  Green Thumb Industries (GTI) (CSE: GTII) (OTCQX: GTBIF), announced today that it has signed a definitive agreement to acquire 100% of Integral Associates. The acquisition includes:

  • Integral Associates’ retail brand Essence, which currently operates three high-traffic locations across the Las Vegas Valley
  • Desert Grown Farms, a 54,000 square foot state-of-the-art cultivation and processing facility with an award-winning genetics library of 100+ strains
  • Cannabiotix NV, a 41,000 square foot cultivation and processing facility which has been a recognized High Times Cannabis Cup award winner several times over

Management Commentary

“We are thrilled to expand GTI’s production, distribution and retail footprint in one of the most popular tourist destinations in the world,” commented Ben Kovler, GTI Founder and Chief Executive Officer. “Integral Associates are exceptional operators—they have a highly admired and respected business comprised of two world-class cultivation and processing facilities, multiple award-winning products, strong wholesale distribution, three impressive retail dispensary locations with significant retail market share and healthy EBITDA.  This acquisition is immediately accretive and an important milestone as we position GTI to scale in one of the only limited license adult use markets.”

Kovler added, “We are excited to welcome Armen Yemenidjian to our senior leadership team, where he will serve as president.  Armen’s wealth of experience in building and growing an outstanding company will be a tremendous asset to our organization. We are also pleased to announce that Alex Yemenidjian will be joining our Board of Directors, and we look forward to leveraging his vast and varied experience and success.”

“This partnership is ideally positioned to bring our business to the next level,” said Armen Yemenidjian.  “I am extremely excited to join the GTI team and be a part of an industry leader that places a strong emphasis on brands, is a respected and award-winning employer, and is committed to community involvement.  Today is a big win for Nevada communities and the customers we will continue to serve.”

Talent, Retail and Production Assets

In addition to Armen Yemenidjian joining GTI’s senior leadership team, Alex Yemenidjian will join the GTI Board of Directors and serve on the audit committee. He served as Chairman of the Board and Chief Executive Officer of Tropicana Las Vegas Hotel & Casino, Inc. from July 2009 to September 2015 and also served as Chairman of the Board and Chief Executive Officer of Metro-Goldwyn-Mayer Inc. from April 1999 to April 2005 and was a director from November 1997 to April 2005. He is a trustee of Baron Investment Funds Trust and Baron Select Funds, both mutual funds, is Lead Director and chairman of the compensation committee of Guess?, Inc., a worldwide retailer of contemporary apparel, and until March 2018 was a director and chairman of the audit committee of Regal Entertainment Group, a motion picture exhibition company.

Integral Associates was founded by Alex Yemenidjian, Armen Yemenidjian and Brian Greenspun in 2014 and has quickly become one of Nevada’s dominant operators.  Their retail business operates under the Essence brand and is renowned for superb service along with the widest selection of quality cannabis products in Las Vegas.  The Essence Las Vegas Strip location was named Business Insider’s number one dispensary in Nevada and top-25 dispensary in the United States; a 17-time Leafly List Winner; top-10 dispensary in Nevada by High Times Magazine and the Las Vegas Review-Journal’s “Best of Las Vegas.”

Integral Associates’ production capability, including Desert Grown Farms and Cannabiotix NV, totals 95,000 square feet of state-of-the-art, pharmaceutical grade cultivation and processing capacity. 

Nevada Market

GTI entered Nevada in 2016 and currently operates two adult use cannabis stores—Rise Spanish Springs and Rise Carson City—along with a Carson City-based cultivation and processing facility.

Nevada dispensaries sold nearly $425 million worth of recreational marijuana in the state’s first full year of sales -- about 60 percent higher than the state’s projections of $265 million -- which significantly outpaced all other states that have legalized the sale of recreational marijuana. According to the state, marijuana tax revenue for the first full year of adult-use sales totaled $69.8 million – about $20 million more than officials had projected – with the last four months of the fiscal year especially strong.

Transaction Details

The transaction is valued at approximately $290 million, with $52 million to be paid in cash and approximately 20.8 million Subordinate Voting Shares of GTI. The purchase agreement also includes additional consideration upon performance targets and regulatory license awards. The transaction was unanimously approved by the Board of Directors and expected to close in the first half of 2019, subject to customary regulatory approvals.

*All currency is in US dollars.

About Green Thumb Industries:

Green Thumb Industries (GTI), a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve. As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called RISE™. Headquartered in Chicago, Illinois, GTI has eight manufacturing facilities and licenses for 60 retail locations across eight highly regulated U.S. markets. Established in 2014, GTI employs over 450 people and serves thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business.  More information is available at GTIgrows.com.

About Essence Vegas Cannabis Dispensary:

Essence Vegas Cannabis Dispensary, the first and only cannabis dispensary on the famed Las Vegas Strip, has received numerous accolades, including being named Business Insider’s number one dispensary in Nevada and top-25 dispensary in the United States; a 17-time Leafly List Winner; top-10 dispensary in Nevada by High Times Magazine and the Las Vegas Review-Journal’s “Best of Las Vegas.” Essence Vegas Cannabis Dispensary offers the widest selection of quality cannabis products in Las Vegas, including more than 50 strains (flower and pre-rolls), vape pens, concentrates, a variety of topicals and a wide variety of edibles, including capsules, cookies, brownies, honey, chocolate and more. With three locations across Las Vegas and Henderson, Essence Vegas Cannabis Dispensary services are 100% legal, entirely safe and totally confidential to protect privacy. All services are performed by highly-trained consultants.  All professional team members are also available to discuss best practices with patients and customers. For more information on Essence Vegas Cannabis Dispensary, please visit https://essencevegas.com.

About Desert Grown Farms:

Desert Grown Farms is a 54,000 square foot, state-of-the-art, pharmaceutical grade cultivation and processing facility. Founded in 2016, Desert Grown Farms is located less than two blocks from the famed Las Vegas Strip and produces 7,500 pounds of flower and 1,500 pounds of trim per year.  The facility has an award-winning genetics library of 100+ strains with a variety of 25 unique strains in constant rotation. The cultivation activities are controlled by a sophisticated computerized system that automatically purifies the water, mixes it with nutrients, dispenses water and nutrients to the plants, and controls temperature, humidity and air circulation. All products produced in the facility are tested by an independent lab and available in dispensaries throughout Nevada. For more information on Desert Grown Farms, please visit https://desertgrownfarms.com/.

About Cannabiotix NV:

Cannabiotix NV is a 41,000 square foot, state-of-the-art, cultivation and production facility located in the heart of Las Vegas, Nevada. Founded in 2014, Cannabiotix NV has an award-winning genetics library with over 55 strains and the majority of them being exclusively bred by the facility. Over 20 of the strains have won High Times’ Cannabis Cups. Most recently, Kush Mountain was named High Times’ Flower of the Year for 2018. The facility also extracts the unique and highly sought-after strains into a full line of concentrates, including vaporizers, budders, shatters, sugars and live resins.  All products produced in the facility are tested by an independent lab and are available in dispensaries throughout Nevada.

Forward Looking Statements:

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only GTI’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of GTI’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the proposed acquisition, expectations regarding whether the proposed acquisition will be consummated, including whether conditions to the consummation of the proposed acquisition will be satisfied and whether the proposed acquisition will be completed on the current terms, the timing for completing the proposed acquisition, expectations for the effects of the proposed acquisition or the ability of the Company to successfully achieve business objectives, expectations regarding the Nevada and California cannabis market and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, GTI is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GTI to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, GTI has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability to consummate the proposed acquisition; the ability for Essence to consummate its proposed acquisition of Cannabiotix NV; the ability to obtain requisite regulatory approvals and third party consents and the satisfaction of other conditions to the consummation of the proposed acquisition on the proposed terms and schedule; the potential impact of the announcement or consummation of the proposed acquisition on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the proposed acquisition. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although GTI believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and GTI does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to GTI or persons acting on its behalf is expressly qualified in its entirety by this notice.

Source: Green Thumb Industries

Contacts:

Investor Contact:                           
Jennifer Dooley                                
Chief Strategy Officer                       
InvestorRelations@gtigrows.com   
310-622-8257                                  

Media Contact:
Linda Marsicano
VP, Corporate Communications
lmarsicano@gtigrows.com
773-354-2004

Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/91c706ac-b339-4a0b-bb05-45eb8a2f82f7

http://www.globenewswire.com/NewsRoom/AttachmentNg/c58915b5-de0b-425f-b372-2e1f2968dcbe

Categories: State

Earth Science Tech, Inc. (ETST) Begins Filming of its Media Campaign with As Seen On TV Production Company

8 hours 18 min ago

DRTV campaign includes powerful customer review of ETST’s CBD products

DORAL, Florida, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTCQB: ETST) (“ETST" or the “Company"), an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, today announces that it has commenced filming of its direct response television (DRTV) media campaign with mega-entrepreneur Kevin Harrington’s award-winning As Seen On TV production company. The film will include an interview with a customer whose life was positively changed by ETST’s High Grade Full Spectrum Cannabinoids.

As announced in September, ETST signed an agreement for an As Seen On TV campaign that will include a 60-second DRTV commercial spot to be aired 300 times within 10 selected regions and selected networks; a 15-second promotional video to be used for digital and social media purposes; a featured placement on the website for 12 months; complete licensing rights to the commercial spot and promotional video; and permission to use the world-famous As Seen On TV logo on ETST’s products.

Production of the campaign begins in Ft. Lauderdale, Florida, where Rhoda Friedman shares how ETST’s CBD products have provided relief from pain she has endured for 31 years.

“I've been on ETST’s CBD since April 2017. I am 73 years old and I have been in excruciating pain from approximately 1987. Until I started CBD, I was not able to walk steps or stand for more than five minutes without severe pain in my lower lumbar, which I had surgery on eight years ago - and the pain just increased. I was on 29 pills a day and I am happy to say that five days after I began CBD and ever since I have only been on a blood thinner. I have been able to walk, go up and down the steps, dance, and move about in ways I never thought I would ever be able to do again. I have trichotillomania, which is pulling out of the hair, but I have not been affected by it since I've been on the CBD. I had a fatty enlarged liver from hepatitis C … three months after I started taking CBD my liver was normal size with no fat - it returned to normal. I also suffered since 1990 with post-traumatic stress disorder where my hands were shaking to the point I could barely feed myself. The shaking totally stopped within the first day of the CBD. I also suffered from obsessive compulsive disorder to the point where it disrupted a lot of my activities. I no longer suffer from that. I had anxiety attacks … I no longer suffer from that. In short, my life is back to what it was when I was in my 40s and suffered from none of it.”

The film will air nationwide in the first quarter of 2019, and will also be shared via social media for optimal brand awareness. ETST owns the rights to the material, as well as how it will be disseminated and utilized in retail locations.

ETST president, director and Chairman Nickolas S. Tabraue stated, “I am excited that we have started production and that we have Rhoda Friedman to share her amazing story with the world. Rhoda is an amazing woman. Everyone with whom she shares her life-changing experience with our products can see and feel her passion. Once production is complete, I will share updates and share the material that is being put together by Kevin Harrington’s amazing team.”

About Earth Science Tech, Inc. (ETST)
Earth Science Tech, Inc. (“ETST”) offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market. There are positive results in studies on breast cancer and immune cells through the University of Central Oklahoma, in addition to studies through DV Biologics that prove the Company’s CBD oil formulation lowers cortisol and functions as a neuro-protectant, with positive result case studies through key health organizations. ETST formulates, markets and distributes the CBD oil used for its studies to the public, offering the most effective quality of CBD on the market.

To learn more, please visit: www.EarthScienceTech.com

ETST currently has four wholly owned subsidiaries focused on developing its role as a world leader in the CBD space and expanding its work in the pharmaceutical and medical device sectors:

Earth Science Pharmaceutical, Inc.
Earth Science Pharmaceutical ("ESP") is a wholly owned subsidiary of Earth Science Tech), committed to the development of low cost, noninvasive diagnostic tools, medical devices, testing processes and vaccines for sexually transmitted infections and/or diseases. ESP's CEO and chief science officer, Dr. Michel Aubé, is leading the company’s research and development efforts. The company’s first medical device, MSN-2, is a home kit designed for the detection of STIs, such as chlamydia, from a self-obtained gynecological specimen. ESP is working to develop and bring to market medical devices and vaccines that meet the specific needs of women. To learn more please visit: www.EarthSciencePharmaceutical.com

Cannabis Therapeutics, Inc.
Cannabis Therapeutics (“CTI”) is a wholly owned subsidiary of Earth Science TechTich i poised to take a leadership role in the development of new, leading-edge cannabinoid-based pharmaceutical and nutraceutical products. CTI is invested in research and development to explore and harness the medicinal power of cannabidiol. The company holds three provisional application patents for a CBD product that is focused on developing treatments for breast and ovarian cancers, as well as two generic CBD based pharmaceutical drugs. To learn more please visit: www.CannabisThera.com

KannaBidioiD, Inc.
KannaBidioiD (“KBD”) is a wholly owned subsidiary of Earth Science TechB that provides a wide variety of products geared toward the recreational space of cannabis. KBD’s unique Kanna and CBD formulation is sold and distributed in CBD-infused vapes/e-liquids products. Kanna and CBD synergistically enhance one another, providing optimal relaxation, an uplifting sensation, enhanced focus and the added benefit of assisting with nicotine reduction therapy. To learn more please visit: www.KannaBidioiDInc.com

Earth Science Foundation, Inc.
Earth Science Foundation. (“ESF”) is a wholly owned subsidiary of Earth Science Tech. ESF is in the process of becoming a nonprofit organization to accept grants and donations to conduct further studies and help donate Earth Science Tech's effective CBD products to those in need. To learn more please visit: www.ETSTFoundtion.org

SAFE HARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our 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 words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Company Contact:
www.EarthScienceTech.com
Nickolas S. Tabraue
President, Director & Chairman
305.615.2118 Office

Corporate Communications Contact:

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Categories: State

Brunswick files Initial Form 10 Registration Statement in connection with its planned separation of Fitness Division

8 hours 46 min ago


New company to be named Life Fitness, reflecting
strong heritage and global industry leadership

Mettawa, IL, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) today announced the filing of an initial Form 10 registration statement (Form 10) with the U.S. Securities and Exchange Commission (SEC) in connection with the planned separation of the Company’s Fitness division into an independent, publicly traded company, to be named Life Fitness Holdings, Inc. (Life Fitness).

The filing contains important information on the planned distribution of Life Fitness shares, including an overview of the company’s operations, strategy, competitive strengths and end-markets, as well as historical financial results and details of the planned separation, among other information.  The Form 10 is not yet effective and will be updated with additional information in subsequent amendments during the customary SEC review process.  The separation is expected to be tax-free to Brunswick shareholders for U.S. federal income tax purposes.  

“The filing of the Form 10 is an important step in the process to create two independent, market-leading companies executing distinct growth strategies in marine and fitness,” said Brunswick Chairman and Chief Executive Officer Mark Schwabero. “The separation will allow each of the Marine and the Fitness businesses to continue to grow, innovate and provide their respective customers with high-quality solutions, while ensuring that the businesses are best positioned to realize their full value.”

As announced during its recent third quarter earnings call, Brunswick’s Board of Directors has appointed Directors David Everitt and David Singer to oversee the Fitness division management team and operations along with the completion of the separation of the Fitness business. 

Life Fitness
With over $1 billion in 2017 net sales, Life Fitness is a global leader in the design, manufacture and distribution of commercial cardiovascular and strength training equipment marketed under the Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT brands.   The company will also continue to design, manufacture and distribute billiards equipment, game tables and furnishings under the Brunswick and Contender brand names. 

“Life Fitness has a strong heritage as a global leader in commercial fitness, and our vision for the standalone company is to further expand our leadership position to connect the world to fitness through a seamless combination of physical and digital solutions with an industry leading combination of brands, products, market reach, operating capabilities, installed base and customer relationships,” said Jason Worthy, president of the company’s Fitness division. “Our extensive sales and distribution network, innovative culture, commitment to operational excellence and unique market insight will enable Life Fitness to continue to deliver an exceptional experience to customers, value for our fitness center partners and attractive returns for shareholders.”

Brunswick Corporation
Following the separation, Brunswick, comprised of its Marine Engine and Boat segments, will remain a global leader in recreational marine products.  The Marine Engine segment, which consists of Mercury Marine, manufactures and distributes a broad range of marine propulsion systems and related parts and accessories.  The Boat segment manufactures and distributes a range of recreational boats under 14 boat brand names including Boston Whaler, Sea Ray, Lund and Harris.  With over $3.5 billion of 2017 net sales, the Brunswick marine portfolio will continue to drive shareholder value by delivering unique technology and solutions to boaters worldwide.

Brunswick will remain headquartered in Mettawa, Ill., and will continue to trade on the New York Stock Exchange under the ticker symbol BC.

Additional Information
The separation of Brunswick’s Fitness division is subject to certain conditions, including, among others, obtaining final approval by the Brunswick Board of Directors and the SEC declaring the Form 10 effective. The Company is working to complete the separation process as promptly as practicable within a timeframe that maximizes value to its shareholders.

A copy of the Form 10 is available at www.sec.gov under Life Fitness Holdings, Inc.  Additionally, the Form 10 can be found on the Investor Relations section of the Brunswick corporate website at https://ir.brunswick.com

Advisors
Morgan Stanley & Co. LLC is acting as financial advisor to the Company, and Cravath, Swaine & Moore LLP is acting as legal advisor.

Forward-Looking Statement
Certain statements in this news release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their nature address matters that are, to different degrees, uncertain. Words such as “may,” “could,” “expect,” “intend,” “target,” “plan,” “seek,” “estimate,” “believe,” “predict,” “outlook,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this news release. These risks include, but are not limited to: the effect of adverse general economic conditions, including the amount of disposable income consumers have available for discretionary spending, tight consumer credit markets, and the level of consumer confidence on the demand for our products and services; our ability to successfully implement our strategic plan and growth initiatives; the risk that strategic acquisitions or divestitures may not provide business benefits; the possibility that the proposed Fitness business separation will not be consummated within the anticipated time period or at all; our ability to integrate targeted acquisitions, including the Global Marine & Mobile Business of Power Products; the potential for disruption to our business in connection with the Fitness business separation or Global Marine & Mobile Business of Power Products acquisition, making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred in connection with these transactions; the possibility that the expected synergies and value creation from these transactions will not be realized or will not be realized within the expected time period; changes to U.S. trade policy and tariffs; actual or anticipated increases in costs, disruptions of supply, or defects in raw materials, parts, or components we purchase from third parties, including as a result of new tariffs on raw materials; negative currency trends, including shifts in exchange rates; fiscal policy concerns; adequate financing access for dealers and customers and our ability to access capital and credit markets; maintaining effective distribution; loss of key customers; inventory reductions by dealers, retailers, or independent boat builders; requirements for us to repurchase inventory; attracting and retaining skilled labor and implementing succession plans for key leadership; our ability to meet supply objectives; higher energy and fuel costs, increase demand for shipping carriers, and transportation disruptions; our ability to protect our brands and intellectual property; absorbing fixed costs in production; managing expansion or consolidation of manufacturing facilities; outages or breaches of technology systems, which could result in lost or stolen information and associated remediation costs; our ability to meet pension funding obligations; managing our share repurchases; competitive pricing pressures; our ability to develop new and innovative products and services at a competitive price, in legal compliance with existing rules; maintaining product quality and service standards; product liability, warranty, and other claims risks; legal and regulatory compliance, including increased costs, fines, and reputational risks; changes in income tax legislation or enforcement; having to record an impairment to the value of goodwill and other assets; certain divisive shareholder activist actions; international business risks; and weather and catastrophic event risks.

Additional risk factors are included in the Company’s Annual Report on Form 10-K for 2017 and subsequent Quarterly Reports on Form 10-Q.  Forward-looking statements speak only as of the date on which they are made, and Brunswick does not undertake any obligation to update them to reflect events or circumstances after the date of this news release or for changes by wire services or Internet service providers.

About Brunswick
Headquartered in Mettawa, Ill., Brunswick Corporation’s  leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers, and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine  & Lankhorst Taselaar marine parts distribution; and Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group  and SCIFIT fitness equipment; and Brunswick billiards tables, accessories and game room furniture. For more information, visit https://www.brunswick.com.


CONTACT: Contact: Daniel Kubera Director - Media Relations and Corporate Communications Phone: 847-735-4617 Email: daniel.kubera@brunswick.com
Categories: State

Avalanche Airbag Sales to Reach 132,400 Units in 2018, Equaling US$ 80 Mn in Revenues

8 hours 48 min ago

Top five companies involved in the manufacturing and distribution of avalanche airbags account for a significant revenue share of the overall avalanche airbags market.

Rockville, MD, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Global sales of avalanche airbags are likely to total 132,400 units by the end of 2018, up from 129,273 units in 2017. This will represent a market valuation in the excess of US$ 80 million, according to a research study by Fact.MR.

Gains will be driven by growing participation in skiing and snowboarding as recreational activities. Focus on safety measures and mainstream media coverage of avalanche mishaps is also driving adoption. According to Colorado Avalanche Information Center, 925 avalanche fatalities have been recorded in the US since 1950. In Europe, Austria has seen avalanche related fatalities toll rise to 37.

The study opines that avalanche airbags are increasingly gaining adoption as a safety equipment, however, challenges, especially uncertainties related to survival percentages is limiting growth.

Request For Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=2312

The market intelligence study has tracked avalanche airbag sales through specialty stores, modern trade channels, sports variety stores, direct-to-consumer, and third-party online channels.

According to the Fact.MR report, direct-to-consumer is the most lucrative sales channel for avalanche airbags, accounting for nearly 40% of all sales. Consumer familiarity, and availability of a wide range remain the key USPs of this sales channel. Specialty stores follow suit, accounting for nearly 35% sales share. These two sales channels collectively account for nearly two-third of all avalanche airbags sold globally.

The study finds that proliferation of e-retailers in avalanche airbags market is not as significant as in other FMCG. However, popularity is increasing at a brisk pace. “Avalanche airbag sales through online channels was unheard of a few years back. However, as e-commerce has permeated possibly every sphere of FMCG, avalanche airbags haven’t remained untouched. Today, a number of manufacturers have tied up with generic and specialty online sellers, and the trend is likely to gain ground in the future,” opines the author of the study on avalanche airbags.

Avalanche airbags are available in two variants – mono and dual – of which, the former remains the preferred choice. Dual avalanche airbags are steadily gaining popularity, but mono avalanche airbags account for the bulk of volume sold every year. Similar trend is witnessed in the dominance of canister/cartridge over electric fan variants.

Browse Full Report on Avalanche Airbags Market with TOC- https://www.factmr.com/report/2312/avalanche-air-bags-market

From a manufacturing perspective, the avalanche airbags market remains a consolidated landscape. The tier I manufacturers hold nearly half of the market share currently. “Avalanche airbags are safety equipment products, and considering the nature of the product, it has yet to witness the degree of fragmentation as other sports or recreational sports equipment markets. Although sports equipment manufacturers are likely to enter this market in the coming years, it is highly likely that a high level of fragmentation will not be witnessed in this market,” opine the authors of the study.

US, Canada, and Europe are among the most lucrative markets for avalanche airbags. Sales in North America (US & Canada) and Europe collectively surpassed 107,000 in 2017, and this is likely to increase to nearly 110,000 units in 2018. Opportunities are also emerging in Asia Pacific, however, from the majority of sales will remain concentrated in North America and Europe.

The research study profiles avalanche airbag manufacturers, supply-chain players, and other stakeholders in this market. The product strategies, historical sales, and future projections are included in the study. Innovation and extension of safety features is a prime focus area for manufacturers. Inclusion of removable airbag system and protection airbags system, combined with addressing current limitation of avalanche airbags is a key focus area for manufacturers.

Increasing the number of deployments per battery charge is another focus area for manufacturers. Lightweighting and improved protection against trauma are among other key innovations in avalanche airbags that are likely to gain traction in the near future.

Fact.MR opines that global demand for avalanche airbags will grow at 2.6% during 2018-2028. This will be a notch higher than growth rate during 2012-2018.

To Buy Avalanche Airbags Market Report, Check- https://www.factmr.com/checkout/2312/S

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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Fact.MR
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Categories: State

MYDX RECRUITS MR. CANNABIS GROUP TO OPERATE COMPANY

9 hours 10 min ago

La Jolla, CA, Nov. 13, 2018 (GLOBE NEWSWIRE) -- MyDx, Inc. (OTC: MYDX) (the “Company”), a leader in science based cannabis health technologies, is proud to announce that it has successfully recruited the Mr. Cannabis Group to operate the Company effective immediately.

Erai Beckmann and the Mr. Cannabis Group

Mr. Beckmann is an accomplished thought leader and influencer in the southern California cannabis industry, and is recognized as “Mr. Cannabis”.  In 2015, Erai helped federally legalize medical THC and CBD in the country of Brazil.  Since then, he has advised major pharma groups to help them with their global CBD R&D efforts.  As a result of his work with big pharma, and his own cannabis lobbying experience in Latin America, he co-founded Humanity, Inc., which believes it will produce the world’s first nootropics-infused microdosed cannabis pill. Humanity has already succeeded in raising capital, securing multiple legal cannabis licenses in the city of San Diego, one of which is being utilized by MyDx to support MyDx360 customers.

“Erai and I have known eachother since the early years of MyDx,” stated Daniel Yazbeck, founder of MyDx. “We reconnected as friends in late 2017, and since his involvement in the Company, he has helped more clearly delineate the focus of MyDx towards improving and expanding our database and further strengthening our value as a future partner to the pharmaceutical industry.  Based on his experience and objectives with big pharma, he further helped us recognize our already existing position as a leader in cannabis health technology, something his team will be focused on expanding as they take over the full time operations of the Company.” 

Mr. Beckmann’s purpose in forming the Mr. Cannabis Group was to bring together a team of seasoned entrepreneurs with an existing track record as successful operators, investors, legal license holders, and lobbyists in the cannabis industry. The team’s immediate mission is to take a laser focused approach to capitalize on the legal cannabis market in California. 

The Mr. Cannabis Team members supporting MyDx include Erai Beckmann, Matt Bucciero, Jory Wolf, Justin Vincent and Derrick Scallet.

“I’ve built a team of investors and entrepreneurs with an already existing proven track record of success in the Cannabis industry,” stated Erai Beckmann, founder of the Mr. Cannabis Group. “Having already successfully raised funds, achieved legal licensing, launched brands and realized revenues, I recognized the need for proven superstars with a solid foundation of successful operations and high finance solely focused on supporting companies in the cannabis industry,” concluded Mr. Beckmann.

“I am confident that the Mr. Cannabis Group as a team have a greater capacity to scale MyDx than I could on my own as an individual at this time.  The Mr. Cannabis Group will be taking over my current full-time day to day responsibilities at MyDx,” stated Mr. Yazbeck, who has been managing the public Company as its CEO and CFO, as well handling all responsibilities related to product development, marketing, revenue generation as well as legal and operations.  “We have structured an agreement where the Mr. Cannabis Group’s sole incentive is to have MyDx succeed by driving shareholder value through fundraising, bottom line increase in revenue, new business development, expanding the scientific position of the Company, and strengthening the growth and IP surrounding MyDx’s unique database and mobile applications,” stated Mr. Yazbeck, who will remain the Chairman of the Board of MyDx. 

The full agreement is referenced in the most recent Form 8K that can be found here.

Renewed Focus for MyDx

“Over the past few months, I’ve had a chance to sit down with the Mr. Cannabis Team and review the needs of MyDx, establish the steps needed to ensure a successful transition for long term success, and to come to an equitable agreement that is in the best interest of the Company and its shareholders,” stated Mr. Yazbeck.  “It became clear to everyone that Mr. Matt Bucciero, one of the senior members of the Mr. Cannabis team, with over 15 years in the cannabis industry, the public markets, investment banking and private equity, would be the ideal candidate to step in as CEO. Mr. Bucciero has a passion for the MyDx vision and see’s enormous potential in tracking data related to the cannabis consumer experience,” concluded Mr. Yazbeck.

“I’m grateful for the opportunity to step into MyDx and take on this role.  I recognize the Company, in my opinion, is undervalued, and look forward to an exciting future at MyDx. We will employ a data-driven, user focus aimed at improving the cannabis experience for consumers worldwide,” stated Matt Bucciero, newly appointed CEO of MyDx. “We are here to make an impact, focused on an improved bottom line, starting with our EcoSmartPen deployment in early 2019,” concluded Mr. Bucciero.

In addition to Mr. Bucciero, the Mr. Cannabis group will take a team approach to ensure success for the MyDx shareholders. As part of that team, Mr. Jory Wolf will lead all business development activities in the Company, focused on the deployment of our products to the medical and recreational cannabis industries nationwide. Dr. Justin Vincent will serve as the Head of the Scientific Board, focusing on development of our data algorithms. Additionally, Mr. Beckmann will join Mr. Yazbeck on the Board of Directors of MyDx.

Regarding the opportunity to add Justin Vincent, who has been named one of the world’s most influential scientific minds by Clarivate Analytics every year since 2014, to lead the Scientific Advisory Board at MyDx, Matt Bucciero stated, “The Mr. Cannabis team was brought on to usher in a new era at MyDx and the opportunity to add Justin to the MyDx team was imperative to our approach. His ability to both aggregate and assimilate data in a meaningful way will provide significant value to the consumer and strengthen our data-centric approach.”

Mr. Cannabis Team Members Joining MyDx

Matt Bucciero, CEO of MyDx
Matt began his career at Legg Mason Investments working in the international mutual fund group and, after moving to the west coast, helped oversee $10+ billion in structured real estate assets for Fortress Investment Group, the first large, publicly traded private equity firm in the US. Prior to joining the cannabis industry, he managed over $500 million in real estate acquisitions and dispositions between private equity groups Pathfinder Partners and Sovereign Capital in San Diego.

Matt started in the cannabis industry over 4 years ago as a founder of Green Capital Ventures and the Gridiron Cannabis Coalition/Foundation. At Green Capital, Matt consulted with dozens of businesses on licensing, compliance, business efficiencies and scalability in addition to working on legislation in California and several states nationwide. He started Gridiron Cannabis Foundation, comprised of current and former NFL players, focusing on research and education with cannabis for traumatic brain injury and long term physical pain. More recently, Matt founded The Acentus Group, helping unique cannabis businesses implement operational efficiencies and develop business practices that ensure fiscal compliance and improved market share. He has specialized in establishing value add partnerships between top producers and large equity groups developing brands that can scale to market leaders in the cannabis industry. Matt has a BS in Finance from Lehigh University.

Justin Vincent, Head of the MyDx Scientific Advisory Board
With 15 years of experience working on teams of software developers, engineers, and data analysts in the medical imaging field, Justin possesses a formidable background in project management, algorithm development, software engineering, statistics, and data science. Justin was a postdoctoral research fellow in the Neurobiology Department at Harvard Medical School and Massachusetts General Hospital. Justin has co-authored one patent and twenty peer-reviewed publications in journals such as Nature and the Proceedings of the National Academy of Sciences. Collectively, his scientific publications have garnered over 16,000 citations, which led Clarivate Analytics to identify him as one of the world’s most influential minds every year since 2014. In addition to his work in science, Justin has significant entrepreneurial experience from his previous role as Chief Technology Officer for two cannabis distribution startups in California.  Justin is a graduate of the Cognition, Brain, and Behavior doctoral program at Harvard University.

Jory Wolf - VP of Business Development
Jory has been a cannabis consultant for the past 3 years. He has consulted local authorities throughout the state of California as well as many well known and extremely successful cultivation, manufacturing and retail brands. Working in the small business and financial industry has provided Jory with the first-hand experience of understanding the issues that cannabis businesses face, especially with respect to investments, financing and operations. Jory helps the Mr. Cannabis group’s partners develop and maintain policies, procedures, processes and risk mitigation best practices as well as manage and perform day-to-day internal operational tasks that are associated with the most successful cannabis operations. Jory’s specialty is a comprehensive approach to the business side of cannabis that is necessary to ensure the future viability and legal protection of any recreational cannabis business. Jory also specializes in deal structure and analysis for the Mr. Cannabis group having completed multiple private and public investments and acquisitions in the cannabis space over the past 2 years.

About MyDx, Inc.
MyDx, Inc. (OTC: MYDX) is a leader in science based cannabis health technology with a focus on understanding the cannabis brand preferences of consumers and patients. MyDx is working on implementing this vision by creating some of the most advanced consumer smart devices, applications, and services all working together towards creating one of the largest crowdsourced databases of consumer and patient feedback that ties physiological effects to specific cannabinoid and terpene profiles. The company believes this is the kind of database that can drive the future of medicine for the global cannabis industry.

Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at https://ir.mydxlife.com/all-sec-filings or www.sec.gov.

Investor Contact:
MyDx Shareholder Communications
800.814.4550 ext. 4
ir@mydxlife.com

Attachment

Categories: State

Generation Alpha Announces Third Quarter 2018 Results

9 hours 13 min ago

Increased Demand and Interest for lighting Systems Arizona Facility Expected to Become Revenue Generating in Early 2019

CARSON, Calif., Nov. 13, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Generation Alpha, Inc. (OTCQB: GNAL) (“Generation Alpha”), a vertically integrated cannabis technology innovator, manufacturer and distributor, today announced its operating results for the three and nine months ended September 30, 2018.

Nine Months Ended September 30, 2018 Financial Highlights:

  • Lighting and nutrient revenue of $2.6 million; and
  • Cash balance of $2.1 million.

Third Quarter 2018 Business Highlights:

  • Changed corporate name to Generation Alpha and trading symbol to GNAL;
  • Appointed Peter Najarian and Tiffany Davis to Board of Directors;
  • Launched Perfect pH, a natural ION pH balancer;
  • Introduced Solis Tek B9 LED, a high efficiency LED lighting system; and
  • Made substantial progress at Arizona facility, which is expected to commence processing revenue in early 2019.

Generation Alpha Chief Executive Officer, Alan Lien, commented, “We are happy with the progress being made at our 70,000 square foot Arizona facility. With manufacturing targeted to commence in early 2019, we are excited to soon move into the revenue generation stage.  Beyond Arizona, we have plans to be operational in several legalized U.S. states. We have identified many exciting opportunities in additional jurisdictions and are currently performing ongoing due diligence and discussions with several parties.” Lien continued, “While our lighting business has seen a significant decrease this year, we are beginning to see an increase in demand for our lighting and nutrient products as the industry begins to stabilize and additional legalized states come on board.”

Revenue for the nine months ended September 30, 2018 and 2017 was $2,565,085 and $7,336,980, respectively, a decrease of $4,771,895, or 65%. The decrease was due to several negative factors during the first nine months of 2018, as compared to the prior year period. Such factors include, market instability and uncertainty, reports of over-capacity and price declines in the wholesale market. The current Administration’s stance on marijuana enforcement, particularly the rescinding of the Cole Memorandum and giving the Federal U.S. Attorneys “free-reign” as to enforcement priorities set a very negative tone and caused hesitation from buyers in the cannabis industry. Industry-wide build-outs slowed and were delayed. Additionally, recreational states have introduced new requirements for testing, oversight, and tightening of the regulatory environment, which has caused a pause in the expansion timetable of many new licensees.

About Generation Alpha, Inc.

Generation Alpha, Inc. focuses on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Generation Alpha’s lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. Generation Alpha’s customers include retail stores, distributors, ecommerce, and commercial growers. In 2018, Generation Alpha expanded into the “touch-the-plant” side of the cannabis business under a contract with an Arizona licensee and its ongoing build-out of a cultivation and processing facility in Phoenix, AZ. For more information, please visit our website, www.genalphainc.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect Generation Alpha’s current plans and expectations, as well as future results of operations and financial condition. Generation Alpha undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investors Contact:
Hayden IR
917-658-7878
hart@haydenir.com   


GENERATION ALPHA, INC.
(FORMERLY SOLIS TEK INC.)
CONDENSED CONSOLIDATED BALANCE SHEETS

  September 30,
2018
  December 31,
2017
   (Unaudited)     ASSETS        Current Assets        Cash $2,053,399  $967,943 Accounts receivable, net of allowance for doubtful
accounts and returns of $22,288 and $396,499,
respectively  296,803   417,484 Inventories, net  1,157,373   1,684,463 Advances to suppliers – formerly a related party  540,090   735,730 Prepaid expenses and other current assets  247,323   134,374 Total Current Assets  4,294,988   3,939,994          Property and equipment, net  509,969   138,243 Intangible assets acquired from related party, net  1,382,941   - Other assets  83,887   37,980 TOTAL ASSETS $6,271,785  $4,116,217          LIABILITIES AND SHAREHOLDERS’ DEFICIT        Current Liabilities        Accounts payable and accrued expenses $1,839,820  $1,124,349 Due to former related party vendor  -   381,457 Contract obligations, current portion  331,818   - Note payable - related parties  640,000   1,145,000 Note payable to related party, current portion, net of
discount of $747,032 and $0, respectively  752,968   - Convertible note payable to related party, current
portion, net of discount of $0 and $1,055,556,
respectively  -   194,444 Due to related parties  124,117   146,534 Capital lease obligations, current portion  260   9,665 Loans payable, current portion  3,383   8,476 Total Current Liabilities  3,692,366   3,009,925          Loans payable, net of current portion  -   17,481 Contract obligations, net of current portion  445,295   - Convertible note payable, net of current portion, net of
discount of $0 and $500,000, respectively  -   - Derivative liability  6,617,284   7,415,000 Total liabilities  10,754,945   10,442,406          Series-A Convertible Preferred Shares, net of no
discount and $351,000, no par value, none and 351,000
shares issued and outstanding at September 30, 2018
and December 31, 2017, respectively  -   -          Commitments and Contingencies                 Shareholders’ Deficit        Preferred stock, no par value, 20,000,000 shares
authorized; no shares issued and outstanding at
September 30, 2018 and December 31, 2017  -   - Common stock, $0.001 par value, 100,000,000 shares
authorized; 45,066,564 and 38,522,034 shares issued
and outstanding at September 30, 2018 and December
31, 2017, respectively  45,067   38,522 Additional paid-in-capital  28,459,378   9,077,690 Accumulated deficit  (32,987,605)  (15,442,401)Total Shareholders’ Deficit  (4,483,160)  (6,326,189)         TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT $6,271,785  $4,116,217 



GENERATION ALPHA, INC.
(FORMERLY SOLIS TEK INC.)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

  Three Months Ended
September 30,
  Nine Months Ended
September 30,
   2018  2017  2018  2017                     Sales $851,710  $1,993,865  $2,565,085  $7,336,980 Cost of goods sold (1)  718,139   1,322,497   1,836,980   4,625,210 Gross profit  133,571   671,368   728,105   2,711,770                  Operating expenses                Selling, general and administrative
expenses  4,115,603   2,050,189   10,213,893   9,206,076 Research and development  37,332   82,500   151,916   247,770 Excess cost of acquisition from a related
party over historical basis  -   -   4,450,000   - Total operating expenses  4,152,935   2,132,689   14,815,809   9,453,846                  Loss from operations  (4,019,364)  (1,461,321)  (14,087,704)  (6,742,076)                 Other income (expenses)                Financing costs (2)  -   -   (7,317,406)  - Change in fair value of derivative liability  (2,525,234)  -   4,286,692   - Gain on extinguishment of derivative
liability  -   -   2,389,427   - Interest expense (3)  (548,632)  (28,190)  (2,813,013)  (84,010)Total other expenses  (3,073,866)  (28,190)  (3,454,300)  (84,010)                 Loss before income taxes  (7,093,230)  (1,489,511)  (17,542,004)  (6,826,086)                 Provision for income taxes  -   -   3,200   4,113                  Net loss $(7,093,230) $(1,489,511) $(17,545,204) $(6,830,199)                 BASIC AND DILUTED LOSS PER SHARE $(0.17) $(0.04) $(0.42) $(0.18)                 WEIGHTED - AVERAGE COMMON SHARES
OUTSTANDING BASIC AND DILUTED  42,826,985   37,079,972   41,810,624   37,482,508                  (1) Included in cost of goods sold are these
amounts from a former related party $137,080  $977,784  $549,802  $3,607,090 (2) Included in financing costs are these
amounts from a related party  -   -   6,177,406   - (3) Included in interest expense are these
amounts from related parties $16,868  $45,205  $39,781  $81,986                  
Categories: State

SugarBud Secures $25 Million Equity Facility With Alumina Partners LLC, Appoints Bob Richardson as Vice President, Retail & Marketing and initiates Vertically Integrated Retail Distribution Strategy

9 hours 18 min ago

TSX-Venture Exchange: SUGR

CALGARY, Alberta, Nov. 13, 2018 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) is pleased to announce the execution of an investment agreement (the “Agreement”) with Alumina Partners (Ontario) Ltd. (“Alumina”). Alumina is a subsidiary of Alumina Partners LLC, a leading institutional investor in the Canadian cannabis space. The Agreement allows SugarBud to draw down capital, on an as-needed basis and in its sole discretion, in a series of equity offerings of up to a total of $25.0 million CAD over a twenty-four month period.

SugarBud is also pleased to announce that it has appointed Bob Richardson as Vice President, Retail & Marketing, and initiated a vertically integrated retail distribution strategy consisting of the acquisition, development and operation of premier retail cannabis stores in Canada (the “Retail Strategy”).   

Craig Kolochuk, President and Chief Executive Officer of SugarBud, stated: “We are building a lifestyle brand and are focused on providing the highest quality suite of cannabis products in Canada. Vertically integrating our retail operations will allow us to convey our values and beliefs to our customers, build relationships and set the standard for customer education and experience in the Canadian retail cannabis space. We are confident that the addition of Bob Richardson as Vice President, Retail & Marketing will help us to achieve these goals, as his experience in the Alberta controlled substance retail space is second to none.”   

Jeff Swainson, Chief Financial Officer of SugarBud, stated: “Alumina is one of the premier institutional cannabis investors in North America, and their support is a testament to SugarBud’s past execution and our business plan moving forward. The Agreement allows SugarBud to pursue high-impact strategic initiatives, including our vertically integrated retail distribution strategy, while controlling the timing and pricing of draw-downs, limiting dilution and maintaining a low cost of capital.”   

“Alumina is excited to support SugarBud as they embark on the next stages of their growth, including an ambitious retail strategy,” added Adi Nahmani, Managing Member of Alumina Partners. “The premium lifestyle brand demographic encompasses several of the highest-margin market opportunities in the Cannabis industry today. We look forward to watching SugarBud aggressively expand their footprint and continue to unlock shareholder value.”

Alumina Partners Investment

Pursuant to the terms of the Agreement, Alumina has committed to purchase units of the Company, each unit consisting of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant a “Warrant”), with the amount and timing of each draw-down being determined by the mutual agreement of the Company and Alumina. The unit price will be determined at the time of each draw-down at negotiated discounts ranging from 15% to 25% of the market price. The exercise price of the Warrants is expected to be at a 40% premium over the market price at time of issuance. Each whole warrant will entitle the holder to purchase one additional Common Share for a period of 36 months from the closing of the applicable draw-down. Closing of each draw-down will be subject to a number of conditions, including receipt of the approval of the TSX Venture Exchange (the “TSXV”).

Appointment of Bob Richardson as Vice President, Retail & Marketing

SugarBud continues to attract top talent to its team and is proud to have appointed Mr. Bob Richardson as Vice President, Retail & Marketing. Mr. Richardson will be responsible for the acquisition, design, development and operation of SugarBud’s retail locations.  

Mr. Richardson has 25 years of experience in the Alberta retail liquor industry. Most recently, he was Vice President of Crowfoot Wines and Spirits (“Crowfoot”), where he was integral in building Crowfoot from inception to approximately 25 premier retail liquor locations. Mr. Richardson was responsible for: the identification, evaluation and acquisition of liquor store locations; the negotiation and execution of leases; the design, construction and renovation of liquor store locations; human resources initiatives; and the day-to-day operations of Crowfoot.

Mr. Richardson brings extensive knowledge of the rules and regulations of the Alberta Gaming, Liquor & Cannabis Commission (“AGLC”). Over the past 15 years, Mr. Richardson served as Director, Treasurer and Vice President of the Alberta Liquor Store Association (“ALSA”), making significant contributions to ALSA’s mandate to preserve and enhance the liquor retail model in Alberta. Mr. Richardson has developed strong relationships with key stakeholders in the AGLC and many other retail stakeholders Canada-wide.

“Bob Richardson is an entrepreneur and a builder who is able to recognize market trends and position organizations to capitalize on strategic initiatives,” stated Mr. Kolochuk. His extensive experience with the AGLC and his expansive network of producers, distributors and retailers in Canada will be invaluable to SugarBud. Bob will add significant value to our shareholders as we execute on our vertically integrated retail strategy and other critical mandates in the coming months.” 

SugarBud’s Vertically Integrated Retail Distribution Strategy

SugarBud’s Retail Strategy is focused on the identification, development and operation of premier retail cannabis locations in Canada. SugarBud believes that the vertical integration of its retail operations will allow it to maintain margins and the highest level of control over SugarBud’s brand equity and strategy. SugarBud expects to execute its Retail Strategy by:

  • Developing a compelling brand which clearly conveys SugarBud’s values;
  • Accessing SugarBud’s hand-crafted, select-batch, ultra-premium products (upon the receipt of SugarBud’s cultivation and sales licenses);
  • Using its extensive knowledge of the Alberta controlled substances retail market and network of beverage manufacturing and distribution contacts;
  • Taking a data-driven approach to decisions related to consumer purchasing habits;
  • Leveraging existing relationships with landlords, municipalities and regulators; and
  • Applying SugarBud’s significant retail operational expertise including store sizing, site development, inventory management, staffing, training and branding.

SugarBud’s initial Retail Strategy is to identify and secure ten retail cannabis locations over the next 12 months through a combination of grass-roots growth and the acquisition of existing locations and development permits.

Common Shares Issued for Services Performed

SugarBud also announces that it has agreed to issue an aggregate of 3,597,300 Common Shares to certain contractors, service providers and a director of the Company in satisfaction of amounts payable to such persons in the aggregate amount of $359,700 CAD at a deemed price of $0.10 per Common Share. The issuance of the Common Shares is subject to the approval of the TSXV. The Common Shares will be subject to a four-month hold period from the date of issuance.

About SugarBud Craft Growers Corp.

SugarBud is a Calgary based emerging cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.

For further information regarding this news release, please contact:

Craig Kolochuk
President & Chief Executive Officer
SugarBud Craft Growers Corp.
Phone: (403) 875-5665
E-mail: craigk@sugarbud.caJeff Swainson
Chief Financial Officer
SugarBud Craft Growers Corp.
Phone: (403) 796-3640
E-mail: jeffs@sugarbud.ca  

Investor Relations Contact
Gary Perkins, President
Tekkfund Capital Corp.
Tel: (416) 882-0020
E-mail: garyperkins@rogers.com

Website: http://www.sugarbud.ca/
Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4
Telephone: 403-532-4466
Fax: 587-955-9668

Forward Looking and Cautionary Statements

This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning: SugarBud’s proposed business plan and retail cannabis operations in Canada, including: its ability to secure retail locations in Alberta and develop a lifestyle brand and suite of cannabis products; the equity facility with Alumina Partners and proceeds to be raised pursuant thereto; and the issuance of Common Shares for services rendered. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company which include, but are not limited to, the timely receipt of all required TSXV approvals. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals, including receipt of cultivation and sales licenses from Health Canada, retail cannabis licenses from AGLC and municipal development permits not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the year ended December 31, 2017 and management’s discussion and analysis (“MD&A”) for the three and six months ended June 30, 2018 for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.

Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Categories: State

Tim Minard, CEO of Atlanta-based Eclipse Gaming Lays Wreath at Tomb of the Unknowns During National Veterans Day Observance in Washington

12 November 2018 - 5:01pm

DULUTH, Ga., Nov. 12, 2018 (GLOBE NEWSWIRE) -- To help mark the 65th annual National Veterans Day Observance and the 100th anniversary of Armistice Day, Tim Minard, Chief Executive Officer of Eclipse Gaming, laid a wreath at the Tomb of the Unknown Soldier in Arlington National Cemetery during the national ceremony on Sunday, November 11, 2018. 

Mr. Minard participated in the ceremony as a guest and representative of BVL (The Bowlers to Veterans Link), a seventy-six-year-old national nonprofit organization dedicated to brightening the lives of America’s veterans and active duty men and women through recreational and therapeutic programs. 

The ceremony, which honors those who served in the United States Armed Forces was led by Veterans Affairs Secretary Robert Wilkie, who commemorated the ceremony with a moving keynote speech. Also, in attendance at the ceremony was Defense Secretary Jim Mattis, Labor Secretary Alexander Acosta, Department of Homeland Security Secretary Kirstjen Nielsen, acting Attorney General Matthew Whitaker, and House Minority Leader Nancy Pelosi. As part of the weekend-long trip, Minard visited the White House and then the National Press Club for breakfast prior to the ceremony at the Memorial Amphitheater at Arlington.

“This was a tremendous experience,” noted Tim Minard, CEO of Eclipse Gaming. “I believe deeply in BVL’s mission to support our veterans and active duty service personnel and am grateful to have been chosen to represent this inspiring organization as we honored and paid our respects to those who have served our country in the Armed Forces.”

About Eclipse Gaming

Eclipse Gaming is a leading supplier of innovative games and systems for the global gaming industry. The company operates primarily in the Native American gaming markets in the U.S., as well as select commercial and international jurisdictions. Eclipse Gaming designs, manufactures and markets top performing games, local, mystery and multi-level progressives, and slot management systems. For more information, visit www.eclipsegamingsystems.com.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a18fdcc0-e68a-490a-a095-1105d63249a6

CONTACT: For Further Information       Gina Lanphear, Vice President, Marketing Eclipse Gaming T:  470.554.7541 gina.lanphear@eclipsegamingsystems.com www.eclipsegamingsystems.com
Categories: State

Nutritional High Completes Sale and Leaseback of Equipment at Its La Pine Oregon Facility

12 November 2018 - 4:15pm

TORONTO, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (“Nutritional High” or the “Company”) (CSE: EAT, OTCQB: SPLIF, FRANKFURT: 2NU) is pleased to announce that it has completed a sale and leaseback financing of certain equipment located at its La Pine, Oregon facility (the “Equipment”) for gross proceeds of $438,407 USD to Veterans Capital Fund II, LP (the “Buyer” or “Veterans”). In addition, Nutritional High issued 156,574 common share purchase warrants (each, a “Warrant”) to the Buyer. Each Warrant entitles the Buyer to purchase one common share in the capital of the Company (a “Common Share”) at a price of $0.70 CDN per Common Shares for a period of 24 months from the date of issuance. The Equipment sold by the Company to the Buyer comprises substantially all of the equipment used by Nutritional High at the La Pine facility.

Pursuant to the agreement with the Buyer, the Company will continue to utilize the Equipment to process a wide range of products under its FLI brand, including its vape cartridges, syringes, and dab. Nutritional High will roll out FLI-branded cannabis-infused edibles including chocolate bars, shots, additional syringe offerings and other innovative products (collectively, the “FLI Edibles”). The FLI Edibles are expected to roll out in Q1 of 2019. The Company has successfully completed the first batch production for laboratory testing through the cold ethanol extraction equipment.

Located in the City of La Pine, 30 miles from scenic Bend, Oregon, the facility is comprised of three contiguous parcels of land totaling and aggregate of 18,295 square feet (0.42 acres) with 4,662 square feet of manufacturing and office space and 540 square feet of mezzanine storage space. Nutritional High completed the facility build-out and was granted a Marijuana Processor License for the facility by the Oregon Liquor Control Commission in early September 2018. With the expansion and development of the facility, the Company is well situated to serve the Portland market as well as smaller centers across the state.

Jim Frazier, CEO of Nutritional High, commented, “The leaseback gives us the flexibility and additional capital to better serve the La Pine Facility, as well as other Nutritional High operations, potential investments and partnerships as the Company grows. We are very excited about the development and production in Oregon and look forward to introducing our flagship FLI-branded products into the state in November."

About Nutritional High International Inc.

Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively with licensed facilities in jurisdictions where such activity is permitted and regulated by state law.

The Company follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales, and distribution sectors of the cannabis industry. Nutritional High has brought its flagship FLÏ™ edibles and extracts product line from production to market through its wholly owned subsidiaries in California and Oregon, as well as Colorado where its FLÏ™ products are manufactured by a third-party licensed producer. In California, the Company distributes its products and products manufactured by other leading producers through its wholly owned distributor Calyx Brands Inc. and is entering the Nevada, Washington State and Canadian markets in the near future.

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.

About Veterans Capital Fund II, LP

Veterans Capital Fund II, LP is designed to give sophisticated investors above average returns secured by income producing assets of early stage and emerging growth companies nationwide. Since 2007, Veterans have invested millions of dollars in a successful investment model called “Venture Lease” transactions. The fund’s overall objective is to provide investors with the potential of a high-end yield over the investment period and investing in companies who are creating jobs and building a better world for all of us to live in.

For further information, please contact:

David Posner
Co-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 potential market expansion and the use of the proceeds of the Offering.  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

Cannabis consulting pioneer exhibits at MJBizCon

12 November 2018 - 1:01pm

Strainwise brings its industry groundbreaking crew to Las Vegas

LAKEWOOD, Colo., Nov. 12, 2018 (GLOBE NEWSWIRE) --  Strainwise, the pioneering one-stop-shop that offers a complete suite of cannabis services, has arrived on the scene of the year’s biggest cannabis conference, ready to share its A-through-Z story of industry growth. The Strainwise experts will be on hand to offer industry guidance to conference delegates.

Strainwise, the national cannabis brand operating under the umbrella of STWC Holdings Inc. (OTC: STWC), has parlayed its origins among the first legal marijuana entrepreneurs in the country to become a nationally recognized firm. Dispensaries, growers and other cannabis-related firms have come to depend upon Strainwise for its expert advice, strategic thinking, branding and marketing guidance and industry connections.

Erin Phillips, president and CEO of STWC Holdings, will be in attendance at the conference along with her husband Shawn, who recently joined the company as its Senior Business Development Strategist. They will be on hand at Booth 1740 to talk to attendees about what it was like to acquire the world’s first recreational cannabis dispensary license, and how the company has grown to offer perhaps the most complete suite of cannabis-centric services in the industry.

“We’ve been looking forward to this show for months, knowing that we are in such a strong position to share our story and help other cannabis companies – in any stage of their development – to thrive and expand,” said Erin Phillips.

Shawn Phillips noted the company prides itself in its flexibility and willingness to work with any legal cannabis business to help that client attain its vision. Strainwise can steer companies toward a licensing model or help them develop their own brand, with all aspects of business such as operations, staffing, applications and marketing – or just those portions that the client needs. Strainwise helps with merger-and-acquisition activities, and Strainwise provides a cannabis education component in the form of customized seminars and online classes.

Erin and Shawn Phillips will be available for impromptu meetings at MJBizCon. They also encourage reporters at the show to prearrange interviews. Call 303-410-4971.

About STWC Holdings, Inc.

Headquartered in Lakewood, Colo., STWC Holdings, Inc. (STWC) is a complete ecosystem of entities and services that support the burgeoning cannabis industry. From capital, strategic partnership, and seed-to-sale consulting to design, marketing and advertising services, we are highly diversified within the industry. We are a team of highly capable industry veterans that creates value for our partners by providing access to our comprehensive suite of assets. We develop made-to-order solutions to address the range of challenges that cannabis entrepreneurs and businesses face. We believe in the value of cannabis, and we’re laying the foundation for its future.

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.

For more information about STWC Holdings, please visit: http://www.strainwise.com/

Media contact:

Steve Caulk, 303-410-4971, srcaulk@proconnectpr.com

Categories: State

Mercury Marine releases 2018 Sustainability Report and video highlighting its commitment to environmental stewardship

12 November 2018 - 12:23pm

Report focuses on environment, energy, product and people

Fond Du Lac, WI, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Mercury Marine, the world leader in marine propulsion and technology has released its 2018 Sustainability Report and supporting  video highlighting the company’s investment in protecting the environment, preserving energy, manufacturing world-class products, supporting our people and communities and creating a sustainable climate for everyone.  The annual report shows that, in each of the major categories of its sustainability initiative, Mercury continues to meet and exceed its aggressive improvement goals.

“We know the marine industry, with its dependency on clean air and water, is a natural priority for sustainability and we want everyone around the marine industry to know it’s a better place because we are here,” said John Pfeifer, Mercury Marine president. “We don’t just want to be a marine propulsion business, we are a socially responsible business that makes communities here, in China, Europe, South America and around the world better; we think that’s important.”

Mercury’s new V-6 and V-8 four-stroke outboard engines are highlighted for having raised the bar in the marine industry relative to sustainability, innovative technology and environmental stewardship. In addition, Mercury employees continue to set new benchmarks for community support around the world in communities in which they live and work and where our products are used.  Since its first sustainability report to the community in 2011, Mercury’s sustainability efforts have progressively evolved to the point where the company is pursuing ever more aggressive goals and objectives.

“Sustainability is important as we set out to pursue our goals and be a marine leader,” said John Buelow, Mercury Marine vice president of global operations. “That means doing everything from having a positive impact on the environment, the products we develop and take to market are as clean as they can possibly be, how we operate our operations, and protecting the planet and having a positive impact on everyone we touch.”

“If you go to any of our operations, there’s a lot of energy around what can we do from a sustainability perspective,” said Pfeifer. “From a sustainability standpoint, we have grown and the reason I believe we have grown is because everyone that works here cares about it.  It’s important to people.”

The four pillars of Mercury Marine's sustainability initiative are:

 

Energy: Achieving greater energy efficiency by implementing energy-reducing projects, promoting best practices in energy management and employing new energy technologies.

Environment: Preserving the natural places where customers use Mercury products for work and play; decreasing the use of natural resources through conservation, redeployment and recycling; and returning purified resources to the planet whenever possible.

Product: Minimizing engines' impact on water, land and air — recognizing the need for an unspoiled environment in which to live and enjoy Mercury Marine products.

People: Helping people who relate with Mercury Marine — employees, partners, customers and the communities where Mercury operates — to enjoy happier, healthier, and more fulfilling lives.

The 2018 Sustainability Report is available for download: https://www.mercurymarine.com/en/us/about/sustainability

The new Sustainability Video from Mercury Marine can be viewed at: https://youtu.be/Pp0VR3Kg4fs

 

About Mercury Marine

Headquartered in Fond du Lac, Wis., Mercury Marine is a world leading manufacturer of marine propulsion systems.  A $2.6 billion division of Brunswick Corporation (NYSE: BC), Mercury designs, manufactures and distributes engines, services and parts for recreational, commercial and government marine applications, empowering boaters with products that are easy to use, extremely reliable and backed by the most dedicated customer support in the world with 10,000 service points globally.  Mercury’s industry-leading brand portfolio includes Mercury outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers, and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine  & Lankhorst Taselaar marine parts distribution; and Mercury and Quicksilver parts and oils. More information is available at mercurymarine.com

Attachments

CONTACT: Lee Gordon Mercury Marine 920-924-1808 lee.gordon@mercmarine.com
Categories: State

Gabriella's Kitchen Is Redefining The Cannabis Health and Wellness Industry -- CFN Media

12 November 2018 - 8:30am

SEATTLE, WA, Nov. 12, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Gabriella’s Kitchen (CSE: GABY). The award-winning consumer packaged goods company whose array of super-nutritional foods are currently sold in more than 3,400 stores across North America, is launching a revolutionary new line of cannabis infused nutritional edibles. The expansion as well as a number of announced acquisitions has positioned the company on the cutting edge of cannabis infused nutritional edibles and therapeutic products, further accelerating GABY’s mission, “to empower people to live healthy lives without compromise.”  

Passionate Mission

GABY, founded by sisters Gabriella and Margot Micallef, was inspired by Gabriella’s terminal cancer diagnosis. Though Gabriella ultimately passed away from her illness, she beat her 4 month prognosis by an exponential factor of 10 and enjoyed a much higher quality of life than her doctors predicted. According to Margot Micallef, Founder & CEO of GABY, “The experience of Gabriella’s journey with cancer confirmed our views that diet and lifestyle is a real alternative to pharma and often with better results!”

GABY’s passionate mission has been furthered by the launch of its cannabis infused edibles which are now in market in California under the alto™ brand. Uninfused versions of the same alto™ edibles are also available online at www.Gabriellas-kitchen.com. In addition, GABY has another 20 un-infused products in market in California and throughout the US and Canada in thousands of mainstream retailers, creating a fast-track to the mainstream retail market for its soon to be launched Hemp-CBD infused edibles.

Expansion Into Cannabis Infused Edibles & Wellness Products

Given the importance of California as both a cannabis and a wellness market, GABY determined it was crucial to own its infrastructure in California. Therefore, in September, Gabriella’s Kitchen acquired The Oil Plant, Inc. (TOP), the owner of a Type 6 manufacturing license issued by the California Bureau of Cannabis Control (CBCC). In October, GABY announced the acquisition of Sonoma Pacific Distribution, one of California's leading independently owned cannabis distribution and marketing companies with a distribution and transport license issued by CBCC. With these acquisitions and with GABY’s vast and deep retail and consumer packaged goods experience, GABY has one of the most reliable and fastest go to market strategies of any cannabis company trading today. Uniquely, while others rely on third party relationships, GABY has the advantage of having direct control over the development, manufacturing, distribution and sale of its cannabis products in the world’s most important market.  

Through these acquisitions GABY also acquired the benefit of TOP’s best in class cannabis oil extraction technology and TOP’s interest in the market-leading brand of Aunt Zelda’s™ topicals and tinctures. The products are featured in the film Weed the People – a documentary by the renowned film production team of Abby Epstein and Ricki Lake.   

Cannabinoids are unique organic compounds commonly found in the cannabis plant. In multiple studies, both cannabidiol (CBD) and tetrahydrocannabinol (THC) have proven to have powerful wellness properties, including pain relief, inflammation relief, sleep enhancements, and general wellness. The combination of GABY’s move into CBD- and THC-infused edibles and lifestyle products, together with its recent acquisitions, brings the necessary expertise, access to capital, and infrastructure necessary to create a category leader in cannabis wellness.  

Consumers are flocking to CBD and THC infused products, a market segment that is expected to greatly exceed expenditures for recreational marijuana use. In 2018, just six months after statewide legalization of cannabis for adult use, California consumers spent $1.14 billion on products through 600 licensed cannabis dispensaries. According to Arcview Market Research, the California cannabis industry is predicted to exceed $7.7 billion by 2021-- establishing the state as the largest cannabis market in the world.

In addition to the California market, GABY has its eyes on the remaining states in the US and on Canada, where its alto™ and Aunt Zelda’s™ products can be sold. According to Cowen & Co., the North American cannabis industry will reach $75 billion by 2030. GABY is positioning itself to participate in this expanded market, and the timing couldn’t be better.

Sophisticated investors are looking beyond the stunning market appreciation of cannabis producers and cultivators to focus on the next wave of cannabis - related startups, namely those industry participants that are downstream of cultivation - manufacturers, distributors and dispensaries.  

GABY may have found the recipe to soar in the multi-billion-dollar THC and CBD based healthy edibles and wellness industry. This market segment is rapidly becoming the growth driver in the cannabis industry as well as the trillion-dollar health and wellness sector.

With significant distribution infrastructure already in place, a proven agility to obtain regulatory clearance, and a tasty portfolio of healthy and therapeutic revenue opportunities, GABY is transitioning into a highly focused, vertically integrated edibles and wellness products company.  

The Strategy Forward

GABY’s successful acquisition of TOP also brought GABY the benefit of Mara Gordon, the founder of TOP who on closing took on the role of Chief Research Officer at GABY. Ms. Gordon brings to GABY her extensive knowledge of the health attributes associated with cannabis and her expertise in formulations. GABY believes that to be the category leader in cannabis wellness it must also be a thought leader. In her role as Chief Research Officer, Ms. Gordon will continue her research into cannabis wellness and education and will continue her work with physicians and clinicians studying cannabis wellness. She will also continue to speak at medical conferences, before policy committees, at industry events and to consumers and retailers to educate, inform and collaborate on the advancement of cannabis wellness.  

GABY is not just well positioned to take advantage of the current market opportunities but is looking beyond the immediate to a time when federal legalization in the US removes the barriers to inter-state commerce. At such time, GABY’s existing infrastructure of major retailers and its distribution networks in both the licensed and unlicensed channels positions the company to rapidly expand into a wide variety of stores across North America with CBD and THC infused products.

Through the first half of 2018 GABY’s revenue rose by 171 percent to approximately $1.2MM, from $450,000 in the first half of 2017. Further growth is expected during the second half of the year following the launch of its alto™ product line as well as from its continuing roll up strategy. TOP’s existing management team projected revenue of US$10 million in 2019, Sonoma is anticipating $7.6 million. With the launch of six cannabis-related products as the foundation of GABY’s continued product development strategy, these unique factors could boost consolidated 2019 annual revenue to ~US$26.7 million (~C$35 million).

Gabriella’s Kitchen (CSE: GABY) has successfully transitioned into one of the only publicly-trading, pure play cannabis edibles and wellness companies listed on the CSE. Investors interested in the intersection between the multibillion-dollar cannabis industry and the trillion-plus dollar wellness industry may want to take a closer look at the company as it gears up to launch additional cannabis infused edibles and wellness products this year while continuing its roll up strategy of acquiring related and complementary companies in this sector.

For more information, visit the company’s website at www.gabriellas-kitchen.com.   

Please follow the link to read the full article: http://www.cannabisfn.com/gabriellas-kitchen-redefining-cannabis-health-wellness-industry/

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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/

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 onhttp://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: Frank Lane 206-369-7050 Flane@cannabisfn.com
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