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Leafbuyer Technologies Inc. (OTCMKTS:LBUY) Confirms Strong Revenue Growth Key To Profitability in FY2020

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Leafbuyer Technologies Inc. (OTCMKTS:LBUY) announced that they expect sustained quarterly profitability next year through client base expansion, strategic development in new markets as well as enhanced sales of technology solutions including loyalty and texting.

Leafbuyer expecting a profitable FY2020

Kurt Rossner the CEO of Leafbuyer stated that the company’s cash flow from operations and profitability path has been defined clearly. He added that the company was optimistic that through its technological advancements and consistent revenue growth its cash flow will be positive for the first half of next year. The company is expecting to be profitable quarterly through 2020.

According to an Arcview Market Research and BDS analytics report, the company’s revenue continues to grow at twice the industry average of 24%. Leafbuyer’s new Los Angeles satellite office surpassed sales goals per month ahead of schedule and has continued to accelerate in the West Coast and Southern California markets. 

Rossner said that the company is adding more people to its email and texting lists to enhance sales and increase value for clients. The company has done this through nationwide expansion with recent event attendance being in Oklahoma, Michigan, and Washington. The CEO indicated that the company’s number one priority is to continue executing its growth strategy. 

Leafbuyer enhances communication with investors

Since July 30, 2019, when the company filed a registration statement with the SEC it has managed to issue around 30 million shares of its common stock. Currently, there is the company has around 78 million shares of outstanding common stock.

The company’s management team has increased the frequency of communication with investors. This is in a bid to enhance that there is efficient and timely communication and provision of information to the investment community. The CEO indicated that they expect to communicate with investors as well as report the company’s end-year results in the second half of September.

Leafbuyer.com is a leading online source for cannabis information and deals. The company works with businesses to help them showcase their products and create a network of clients.  It is the official cannabis deals platform of Sensi Magazine, Voice Media Group and Dope Media.

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Canopy Rivers Inc. (OTCMKTS:CNPOF) Portfolio Company TerrAscend Corp (OTCMKTS:TRSSF) To Acquire State Flower Brand

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Canopy Rivers Inc. (OTCMKTS: CNPOF) has announced that portfolio company TerrAscend Corp (OTCMKTS: TRSSF) has entered a definitive agreement to buy ABI SF, LLC a cannabis cultivation facility operators that own the State Flower brand.

Acquisition of State Flower

According to the terms of the agreement, initially, TerrAscend will acquire 49.9% of State Flower equity for around $2.85 million from the conversion of a previously issued convertible debenture. The company has also extended a $3.75 million line of credit to State Flower for enhancing improvements in the facility aimed at boosting its capacity. TerrAscend will acquire the rest of the 50.1% within a predetermined 12-month period based on future revenue.

Canopy Rivers, CEO, and President, Narbe Alexandrian stated that the acquisition demonstrates how TerrAscend is delivering its expansion plans. This offers more exposure in the US for Canopy Rivers and TerrAscend shareholders. The CEO added that the acquisition of State Flower would enable TerrAscend to seize a significant foothold in the US as a result of its solid consumer-facing brand. Alexandrian further said that with the retail foothold in the US already secured vial Apothecarium, the acquisition of State Flower would be a natural strategic fit for the company.

State Flower produces Ultra-premium cannabis

State Flower is popular for its high-quality cannabis flower currently sold through dispensaries in Nevada and California including Apothecarium. It operates a licensed facility in San Francisco California. It has emphasized a craft approach in its cultivation through the best-in-class genetics at the Envirocann certified facility. Evirocann certification confirms that bets management practices are in place in growing and processing of cannabis. It also ensures environmental stewardship as well as compliance with state and local regulations.

State Flower President, Daniel Wacks stated that through their work with TerrAscend and Apothecarium they have established a great cultural and strategic fit. He added that the company was proud of its achievements and were glad to have found a partner who believes in their team. Wacks said that they are looking forward to the partnership to create the best-in-class growing capabilities in all locations where TerrAscend operates.

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Auxly Cannabis Group Inc. (OTCMKTS:CBWTF) Subsidiary KGK Science Receives Cannabis Research Licence

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Auxly Cannabis Group Inc. (OTCMKTS:CBWTF) has announced that its wholly-owned subsidiary KGK Science Inc. has received a Cannabis Research Licence from Health Canada. Under the cannabis regulations, this will allow the subsidiary to possess and manage cannabis for clinical trials.

KGK to conduct the first clinical trial

This is the first license of its kind in Canada to a contract research organization. KGK will be conducting its first cannabis-based clinical trial to test pharmacokinetics of CBD and THC in healthy adults. The trial will start on October based on a procedure developed by KGK researchers at the company’s in-house clinic in Ontario. A third party who sponsored KGK to carry the trial on their behalf will receive the results.

KGK has several cannabis trials in its pipeline, and it is on its way to show its leadership in research and regulatory services in supporting cannabis and cannabis derivatives. CEO and President of KGK, Najla Guthrie stated that the trial is a significant step for the company’s business, clients, and the cannabis industry at large. He added that support from regulatory bodies and government was essential for manufacturers to take science-driven approaches in substantiating the safety of products through clinical trials.

Auxly establishing presence in Atlantic Canada

Recently Auxly and its strategic partner Atlantic Cultivation announced the signing of a comprehensive supply, retail and development agreement with the province of Newfoundland and Labrador. This is a significant milestone for Auxly as it looks to establish its presence in Atlantic Canada.

According to the agreement, Atlantic qualifies to apply for the running of five new retail outlets in the province. Currently, site scouting is underway, and Atlantic expects to open its first retail store in the first quarter of 2020. On its end, Auxly will supply up to 50 kg of dried cannabis flower this year to the province of Newfoundland and Labrador. This will increase to 1,000 kg next year with the option of additional 1,000 kg in 2021.

Auxly CEO, Hugo Alves said that they were delighted to build the company’s partnership with Atlantic as they seek to reinforce their position in Atlantic Canada.

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SinglePoint Inc. (OTCMKTS:SING) Subsidiary To Offer Energy Solutions To The First Ever Hemp Distribution Centre

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SinglePoint Inc. (OTCMKTS:SING) has announced that its subsidiary Direct Solar of America and GSX international Group along with other corporations, are planning a first of its kind Hemp Distribution center.

Direct Solar to offer energy solutions to distribution and production centers

Direct Solar of America will supply all then required energy solutions to the distribution and production centers. This is along with energy solutions to autonomous farmers within the coop. Equally, the SinglePoint subsidiary will also facilitate the assigning or selling of ITCs between centers and farmers as well as with third parties.

This opportunity to enter the hemp market represents a massive chance to enter the burgeoning market expected to be a multi-billion dollar industry in the next few years. An organization able to effectively pool the resources of small hemp farmers and form consolidated distribution and production centers could have a competitive edge in the hemp processing market in the future. In addition to the current tax incentives provided through ITCs as well as Opportunity Zones, any group that can access both will be in a better position to reap high returns.

Direct solar services to offer exceptional value add

The company’s services will provide a unique value addition not easily replicated. This will lead to the creation of a natural barrier that will limit the entry of competitors in future that offering a long-term competitive edge. Equally, the solution will offer immediate stability to the hemp market at the same time, generate considerable profits.

Generally, the profit potential is massive owing to the current solar tax incentives and the opportunity zone exemptions. It is estimated that the project will be fully profitable in 3 to 4 growing cycles. Southern farmers will enjoy the benefit of multiple seasons per year while northern farmers will only have one growing season per year.

To reap the maximum benefit of the structure is to take advantage of the currently available tax exemptions for opportunity zone development. The financial incentive will ensure the project is profitable in the next 24 to 36 months.

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