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Delta, Kelowna, BC - January 7, 2019 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today's edition of Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
Good afternoon and welcome to another Investorideas.com "potcast", looking at cannabis news, stocks to watch as well as insights from thought leaders and experts.
iAnthus Capital Holdings, Inc., which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, announced that it has opened its first and flagship dispensary in New York on December 30, 2018. The dispensary, located at 202 Flatbush Avenue directly across from Barclays Center and Atlantic Terminal, is the first in Brooklyn, New York's largest borough, with a population of roughly 2.6 million people. The dispensary will operate under iAnthus' "Citiva" New York dispensary brand.
"I'm excited that Citiva has opened Brooklyn's first regulated medical marijuana dispensary, providing valuable palliative care to certified patients in our borough," said Brooklyn Borough President Eric Adams. "Dating back to my time in the State Senate, I have long advocated for expanding the use of alternative treatments in the battle against serious medical conditions. My administration advocated hard for our borough to be part of the State's medical marijuana program, and the long-awaited opening of this dispensary translates to quality local jobs and quality local access to critical health care."
The 2,000 sq. ft. retail location initially will offer more than 30 locally-sourced, lab-tested products, including vape cartridges and tinctures, dispensed by a highly-knowledgeable patient care representatives.
This is the first of Citiva's four licensed dispensaries, with additional locations to include Wappingers Falls (set to open in late-January 2019), Staten Island and Chemung County. In conjunction with the opening of the Brooklyn dispensary, Citiva is launching a delivery program with the ability to deliver products all across the borough.
CROP INFRASTRUCTURE CORP. announced today its 49% owned subsidiary Elite Ventures is nearing completion of a 1,600 square foot genetics, tissue culturing and micropropagation laboratory at the company's Nevada Farms. The objective of the team and the lab will be to provide 10,000,000 plant starts for the company's 2,115 acres of CBD farms. By propagating in the lab, the company will save approximately $3.0 Million in seed and planting costs for the 2019 season.
The laboratory team's objective, beyond saving on planting costs, is the mandate of developing proprietary genetics to maximize yield and provide the company a Global edge with specific attentions paid to the over 100 other photocannabinoids beginning with cannabinol (CBN) and cannabigerol (CBG).
Cannabis industry analysts, The Brightfield Group, estimate the hemp-CBD market alone could reach $22-billion by 2022.
CROP CEO, Michael Yorke, stated: "The development of this genetics and micropropagation lab is further demonstration of our team's dedication to keeping our genetics portfolio and brands at the fore front of this industry. Teams worked steadily through the later part of the year and Holiday season on the construction and development of this lab which will save the company and our stakeholders a significant amount in 2019 and beyond."
Rubicon Organics Inc., a premium organic cannabis company with operations in Canada, California and Washington, announced that its common shares are now trading on the OTCQX Best Market under the ticker symbol "ROMJF", while Rubicon Organics' common shares will continue to trade on the Canadian Securities Exchange ("CSE") under the ticker "ROMJ".
The OTCQX Best Market provides U.S.-based investors with access to trade Rubicon Organics through regulated U.S. broker-dealers.
"Rubicon Organics' expansion into the OTCQX is a milestone that brings the Company greater access to investors. Trading on the OTCQX in the U.S. can enhance liquidity for our shareholders and allow a broader group of investors to participate in the North American cannabis market through Rubicon Organics", commented Jesse McConnell, CEO.
INVICTUS MD STRATEGIES CORP. announced that it has entered into a binding letter of intent to create a joint venture with Cannamerica Brands Corp. and CBDistribution Company Ltd. with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large scale CBD extraction.
In December 2018, President Trump signed the $867 billion Farm Bill which recharacterized hemp from a schedule 1 drug with high potential for abuse to the lowest-level listed drug (schedule 5) which includes small doses of medicines such as codeine. This allows for mass hemp production in the United States that is federally legal and the ability to move hemp across state lines. Hemp is defined in the United States as cannabis with less than 0.3% THC. CBD, a non-psychoactive cannabinoid found in cannabis, has had a surge in popularity over the past couple of years based on its a huge range of potential health benefits and uses.
Subject to Board approval and completion of satisfactory due diligence, Invictus intends to enter into a definitive joint venture agreement on or before January 31, 2019. Each of the parties will receive a one-third share of the joint venture in exchange for their respective contribution:
Invictus will contribute a line of credit ("LOC") in the amount of $5 million CAD which will be used to acquire extraction equipment, build out infrastructure and fund working capital. The LOC will be secured by a general security agreement over the joint venture and will bear interest at a rate of 5% per annum;
CannAmerica is a pioneer in the science of cannabis extraction and post processing, precision dosing of product, and formulation of concentrates and oil-based vaporization products. The Company had sold more than 14 million cannabis infused gummies in the states of Colorado and Nevada, and will contribute operational expertise, will source the property, extraction equipment, staffing and manage operations; and,
CBDC will contribute the sourcing of Hemp Biomass procurement, branding, marketing and the commercialization of the finished product, including but not limited to CBD Isolate.
"We are thrilled to partner with CannAmerica and CBDC to extract and supply CBD to the US market. This partnership represents a great opportunity to continue expanding our footprint beyond Canada and capitalize on the United States' federal legal framework that is now in place to produce and sell CBD," said George E. Kveton, CEO of Invictus.
AgraFlora Organics International Inc. (formerly PUF Ventures Inc.), a growth oriented and diversified international cannabis company, announced that it has engaged good manufacturing practices (GMP) facility experts to design post production exports for the European Union (EU) in preparation for the first crop of cannabis to be planted at its the large-scale Delta Greenhouse Complex later this year. The Company has also initiated discussions regarding supply agreements and product development partnerships with several European Union based pharma companies.
"I am very pleased to announce we have engaged European GMP facility experts to design post production products for export markets," said Derek Ivany, President and CEO, AgraFlora Organics International Inc. "The first 250,000 square feet of cultivation space at Propagation Services Canada's Delta Greenhouse Complex will be coming online in mid-2019 and it is important that we have multiple sales avenues for our final product. We have taken steps to establish our domestic distribution network and have initiated discussions with multiple pharma companies based in the European Union to establish an export market. We expect to make an further announcement regarding domestic and export supply and product development agreements in the first half of 2019."
AgraFlora's management team is actively establishing a customer base for its medical cannabis flower and propagating plants including the recently announced medical cannabis supply agreement with Namaste Technologies and propagation plant supply agreement with Cabbay Holdings Corp.
The European Union represents a significant opportunity for AgraFlora as it is home to more than 500 million people, a population significantly larger than the combined population of the United States and Canada-the two largest cannabis markets in the world today. The legalization of medical and recreational cannabis is gaining traction across Europe including Germany, one of the fastest-growing medical cannabis marketplaces in the world.
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