National Access Cannabis’ (TSXV:META) stock is on the rise following hints from Canadian coffee retailer opening cannabis shops in Ontario.
The Second Cup (TSX:SCU), which signed a partnership with the cannabis company in April, announced on Thursday (August 16) its intentions to potentially transform existing retail locations into cannabis shops under the brand name Meta Cannabis Supply.
“Second Cup has exceptional quality real estate in locations throughout Ontario and we plan to leverage this to provide safe and responsible access to legal cannabis,” Mark Goliger, CEO of National Access Cannabis said in the release.
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On Monday (August 13), the Ontario progressive-conservative government announced it would be scrapping the plan to open only government-run cannabis shops following adult-use legalization and instead it would open the retail space to private companies starting in April 2019.
Amid the reactions from various members of the industry, cannabis stocks took a hit following the province’s announcement, largely attributed to the delay in retail sales until next year.
The partnership between the companies is projecting to open between 50 and 70 retail cannabis stores through 2018 in Western Canada, including Manitoba, Alberta and B.C.
The two companies will have to obtain a retail license from provincial regulators in order to alter an existing coffee shop into a cannabis store. The duo will also need approval from the landlord or each respective store.
Goliger added the companies
Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT, OTCQB:SPLIF, FRANKFURT:2NU) is pleased to announce the release of multiple new products to be sold under the Company’s FLI brand (“FLI”), beginning in Colorado with plans for expansion to California and other markets in the near future. Through its FLI brand, the Company will be launching the FLI Chocolate Shot (“Chocolate Shot”) and the Space Joint (“Space Joint”). The Company expects these innovative new products to drive additional sales and awareness of FLI’s product portfolio going forward. The Chocolate Shot is an infused chocolate edible product that will be available in 5mg and 10mg THC doses. The product is the culmination of extensive in-house research and development that has resulted in a specifically engineered product designed to remain in a liquid form regardless of environmental conditions including extreme heat or cold. The Company believes the Chocolate Shot will drive significant … Continue reading
MedMen Enterprises (CSE:MMEN) unveiled its unaudited retail revenue results for its fiscal 2018 fourth quarter, which ended on June 30, 2018. As quoted in the press release: Across the Company’s operations in California, Nevada and New York, systemwide retail revenue was US$19.2 million (C$25.2 million). The Company is expected to post its audited fiscal 2018 full year results in October. Strong systemwide retail revenue for the quarter is primarily attributable to MedMen’s stores in Southern California’s recreational market. Excluding its Abbot Kinney store, which opened in early June of this year, the Company’s other 7 retail locations reported a combined US$17.4 million in revenue (C$22.8 million), with an average retail markup over wholesale of 90 [percent]. These 7 locations saw 94,000 new customers and nearly 130,000 returning customers, with an average spend per transaction of US$77.76 (C$102.09), operating at an annualized per square foot revenue of US$6,541 (C$8,470). By comparison, according … Continue reading
Veritas Pharma (CSE:VRT) announced a memorandum of understanding with IsCann Group Limited meant to expand the reach for the companies in the Canadian and Israeli medical cannabis industry. As quoted in the press release: Under the terms of the MOU, both parties will identify key extraction, pharmaceutical, nutraceutical, and cannabis manufacturing partners with a whole plant focus rather than molecular research; undertake joint clinical research and development on select products; and identify key national and international distributions partners for market size analysis with a focus on Israel and legal European markets. Both parties will also propose speakers to participate in workshops, conferences, seminars and other events to discuss primarily bilateral trade between Veritas Pharma & Israeli pharma companies. Veritas Pharma’s CEO, Dr. Lui Franciosi, stated, “We are excited to work with IsCann Group has they have a great understanding of the medical cannabis market opportunities in Israel and throughout the region. … Continue reading
Emerald Health Therapeutics (TSXV:EMH) completed its total acquisition of Northern Vine Canada from Abattis Bioceuticals (CSE:ATT) for C$2 million in cash and 1,093,938 common shares of the company. As quoted in the press release: Northern Vine is a Licensed Dealer (LD) under the provisions of the Canadian Controlled Drugs and Substances Act. The dealer license allows Emerald to participate in the growing market for cannabis analytical testing, which Emerald expects to grow in conjunction with increasing cannabis production volumes in Canada. Northern Vine will operate independently of Emerald and is committed to serving all clients, including Licensed Producers and patient-growers. Legalization of cannabis for medical purposes and the upcoming legalization of cannabis for recreational purposes is expected to drive demand for analytical testing services to assess potency and concentration of toxic materials. This acquisition also allows Emerald to leverage Northern Vine’s dealer license to advance research plans to develop cannabis formulations supporting … Continue reading
Kalytera Therapeutics, Inc. (TSXV:KALY) (OTCQB:KALTF) (the “Company” or “Kalytera”) is pleased to announce that in connection with its previously announced public offering (the “Offering”) of units of the Company (“Units”) for aggregate gross proceeds of CDN$4,297,260, Echelon Wealth Partners Inc. (“Echelon”) who acted as agent for and on behalf of the Company in connection with the Offering, has exercised its over-allotment option in full, and an additional 5,859,900 Units were issued today representing additional gross proceeds of CDN$644,589. Each Unit consists of one common share in the Company (each a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of CDN$0.155 (subject to customary adjustments for certain events) for a period of 36 months from the initial closing date of the Offering. On closing of the exercise of the over-allotment … Continue reading
INDIVA (TSXV:NDVA) CEO Niel Marotta was featured in an article published by the London Free Press. In the article, Marotta discussed the significance of being granted a federal license for selling cannabis, which gives INDIVA the ability to sell directly to cannabis consumers instead of going through a state-run store. INDIVA will be able to send out its first orders to cannabis patients through the company’s website later this year. “We would love to do that . . . As a licenced producer, having our own store would be a natural extension. It would be a chance to showcase our products and educate consumers,” said Marotta. The article also covered INDIVA’s growing facilities. INDIVA is in the process of expanding its facilities to ensure that they have a steady supply of cannabis for the medical cannabis market. Marotta also divulged that the company is looking into establishing an outdoor growing … Continue reading
Ancient Strains Limited (“Ancient Strains” or “ASL”) is pleased to announce that it has signed two binding agreements with strategic cannabis service providers that will greatly enhance Ancient Strains’ ability to expand its international footprint and develop unique medicinal cannabis products. One is with CannOps Consulting Services Ltd. (“CannOps”) and one is indirectly through Battalion Consol Corp. (“BATC”). Under the terms of the agreement with CannOps (the “CannOps Agreement”), CannOps will, among other things, supply product from its genetic library, work with Ancient Strains to develop medicinal cannabis extract product lines and assist in marketing and distribution. Ancient Strains will use the genetics and strains to enhance its position in the international business of medicinal cannabis. Pursuant to the confidential terms of the agreement with Battalion Consol Corporation (the “BATC Agreement”), Ancient Strains will purchase BATC’s minority equity interest in a licensed analytics lab located in Canada (the “LD”). The BATC Agreement … Continue reading
Pure Global Cannabis Inc. (TSX.V:PURE; OTC: PRCNF) (the “Company” or “Pure Global”), a vertically-integrated, growth-oriented life sciences cannabis company, is pleased to announce that it has entered into a binding letter agreement (the “Agreement”) with Avicanna Inc. (“Avicanna”) to acquire a 60% interest in Avicanna’s Colombian subsidiary, Sativa Nativa S.A.S. (“Sativa Nativa”). In addition, Avicanna will also grant Pure Global an option to acquire an additional 15% in Sativa Nativa for an aggregate ownership of 75%. Sativa Nativa has been issued a license for the cultivation of psychoactive cannabis and a license for the manufacture of cannabis derivatives by the Colombian Ministry of Justice and Ministry of Health. Malay Panchal, President & CEO of Pure Global, stated: “This is an exciting day for Pure Global as we make our first entry into Latin America and kickstart our international growth plans. We have found an excellent partner in Avicanna, which has done a tremendous job … Continue reading
GTEC Holdings Ltd. (TSXV:GTEC) (OTC:GGTTF) (“GTEC” or the “Company”), is pleased to provide an update on its wholly owned subsidiary, Spectre Labs Inc. (“Spectre Labs” or “Spectre”). GTEC previously announced that it had acquired a warehouse located in Kelowna, B.C. for the purpose of submitting an application to the Office of Controlled Substances for a Dealer’s Licence. The site will be developed in a phased approach and will serve as a Good Manufacturing Practices (GMP) grade facility with extraction, formulation, compounding and export capabilities to support GTEC’s Licensed Producers and the global medical market. GTEC also intends to utilize this facility to manufacture edible products that are expected to be incorporated into Health Canada’s regulatory framework in 2019. Upon Health Canada approval of phase one, the facility will be capable of producing up to 24,500 grams of cannabis oil per day (equivalent to more than 8,500 kilograms per annum), with capacity to … Continue reading