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CannMart Inc, A Subsidiary Of Namaste Technologies Inc (OTCMKTS:NXTTF), Signs Supply Accord With Ontario Cannabis Retail Corporation

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CannMart Inc,a Subsidiary of Namaste Technologies Inc (OTCMKTS:NXTTF), has signed a supply accord with Ontario Retail Cannabis Corporation. The company can also sell cannabis products to licensed wholesalers in the Saskatchewan province because it has registered with SLGA (Saskatchewan Liquor & Gaming Authority).

Chief Executive Officer of Namaste, Meni Morim, said the company gains significant market opportunities by directly working with respective provincial governments. It expects to become part of the supply chain for SLGA and Ontario Retail.

Leverages license to expand customer base

To expand the customer base, Namaste is exploring supply accords with provincial government agencies. The company streamlines the purchase processes and leverages unique license and diversifies products through a single location. CannMart, an online cannabis store, offers several cannabis products sourced from suppliers worldwide and in Canada.

Service accord with Native Ads

Namaste signed a services accord with Vancouver, BC-based Native Ads Inc for $150,000. As per the terms of the deal, Native Ads is responsible for managing a digital media marketing campaign that includes media buying and distribution, development of advertising, web development, and content creation. The agreement is effective from September 25, 2019, and will be in force until the conclusion of the digital media marketing campaign.

BC Liquor Distribution Branch has awarded a PO to CannMart for the supply of pre-rolled cannabis products to the people in the British Colombia province. It is a milestone for Namaste.

Appoints new CFO

Namaste has announced the appointment of Annie Holmes as the Chief Finance Officer. Annie will replace Ken Ngo, who is pursuing other opportunities. She will provide financial and strategic advice to the private and public clients in the international and domestic markets. Before joining this company, she held the roles of CFO at several private firms. She will receive stock options subject to the approval of the board.

Baran Dilaver joins the board

Following the exit of Director – Kenneth Jones, Baran Dilaver is joining the board of Namaste. In his previous stints, Baran held COO and Chief Executive Positions at private and public companies. To his credit, Baran also launched several products for leading institutions and more than a dozen prominent brands across the world.

Annie is a renowned speaker at several industry conferences and brings significant experience in consumer packaged goods and cannabis products.

Business

Acreage Holdings Inc (OTCMKTS:ACRGF) Inaugurates A Medical Dispensary – The Botanist In Spring Hill, Florida: Larissa Herda Resigns From The Board of Acreage

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Acreage Holdings Inc (OTCMKTS:ACRGF) inaugurated The Botanist in the Spring Hill, Florida. It is the first medical cannabis dispensary of Acreage in the state. The company now holds consulting and management services and other accords that include pending takeovers for thirty-two operational dispensaries in thirteen states that comprise fourteen The Botanist branded dispensaries. Acreage invests in cannabis industries.

The Botanist Brand

The Botanist Brand, which is developed by Acreage, is a product and retail brand with deep roots in wellness and health. It helps individuals to maintain healthy lifestyles using the holistic power of cannabis. The Botanist provides a wide gamut of products derived from cannabis. It also features a retail design – the science meets nature, which is reminiscent of the nineteenth-century botanist laboratory. The Botanist in the Spring Hill boasts its signature green foliage wall and a private consultation room and provides an environment for enthusiasts like you to know about the healing properties of cannabis plants from the trained specialists in patient-care.

Larissa Herda resigns from the board

According to a communiqué from Acreage, Larissa Herda has relinquished as a member of the board. Kevin Murphy, Chief Executive Officer and Chair of Acreage said the company conveyed thanks for her exceptional services all along its journey since joining the board in November 2018 and wished success in her future endeavors.

Closes previously announced credit facility

Acreage has successfully closed the previously announced credit facility of $100 million. It has drawn $21 million from this credit facility. The subsidiary of Acreage – IP Borrower has also borrowed $22 million from IP Investment Company LLC.

Acreage has agreed to make monthly payments at an annual interest of 3.55% on the first advance, 1.85% on the second advance, and 1.55% for the third advance for the first year. It will negotiate interest rates for the second year. IP Borrower provides a guarantee for the credit facility. It will also provide security of $22 million from the loan transaction. The amount of $22 million will be blocked in the account as a safety to the Institutional lender.

The Borrower needs to provide cash collateral to draw the balance amount of $78 million. However, the institutional lender will not hold any security in the subsidiaries of Acreage or Acreage.

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TerrAscend Canada Inc, A Subsidiary Of Terrascend Corp (OTCMKTS:TRSSF), Enters A $80.5 Million CAD Loan Financing Accord With Canopy Growth Corp (NYSE:CGC)

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TerrAscend Canada Inc, a subsidiary of Canopy Rivers Inc (OTCMKTS:CNPOF), has entered into an $80.5 Million CAD loan financing agreement with Canopy Growth Corp (NYSE:CGC). As per the terms of the deal, Canopy Growth has received 17.8 million common shares purchase warrants from TerrAscend.

Well-positioned to capitalize on opportunities

CEO and President of Canopy Rivers, Narbe Alexandrian, said it shows the confidence in TerrAscend’s capability to implement the strategic mandate for domestic and international markets. He said the team at TerrAscend is well-positioned to leverage the flourishing opportunities in the regulated jurisdictions using its network and resources. Narbe is pleased with the support extended by Canopy Growth for its portfolio company – TerrAscend.

Proceeds for general corporate purposes

TerrAscend Canada will use the proceeds to fund the Canadian operations and for general corporate purposes. It will also use the funds to repay indebtedness and to support global expansion and its Arise Bioscience U.S. hemp division.

Receives a permit to cultivate medical marijuana

TerrAscend has announced the receipt of a permit from the New Jersey Department of Health to cultivate medical marijuana. Its subsidiary TerrAscend NJ will commence the cultivation immediately at its facility situated in Boonton Township, northern New Jersey. It is the second entity in New Jersey among the six applicants selected in December 2018 by the Department of Health. TerrAscend NJ can commence manufacturing after the receipt of dispensing and additional processing approvals. It can manage up to three dispensaries in the northern area of New Jersey.

66,000 patients’ gains access to the medical marijuana program

More than 66,000 patients have gained access to the medical marijuana program as of January 2020 in New Jersey. The registered medical patients’ count has almost tripled since early 2018.

TerrAscend has purchased a sixteen-acre site in Boonton Township. It commenced the construction on an area of 227,000 Sq. Ft. under the first phase to cover cultivation, support space, and processing on 80,000 Sq. Ft. The first phase will become operational in H1 2020.

TerrAscend will supply the wholesale customers and its dispensaries by sourcing the cannabis products from its scaled cultivation capacity. It also expects to meet the demand for fifteen new retail dispensaries using cannabis from the scaled cultivation facility.

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Medipharm Labs Corp (OTCMKTS:MEDIF) Expects To Begin Supply Of Pharmaceutical-quality cannabis oil products in Australia

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Medipharm Labs Corp (OTCMKTS:MEDIF) will supply pharmaceutical quality cannabis oil products in Australia. It is on the backdrop of a two-year agreement signed between Compass Clinics Australia Pty Ltd and MediPharm Labs Australia Pty Ltd.

Provides education and consultation services

Compass Clinics provides education and consultation services to Australian patients who look to access medical cannabis products. The company inaugurated its first two clinics last year in Australia. It will now commence the sale of its own branded products. Compass Clinics expects to inaugurate additional clinics in 2020. It offers consultation services for the patients, who want to get medical cannabis products via SAS (Special Access Scheme) or Authorized Prescriber pathways, in Australia. The company also uses the services of third-parties to sell cannabis oil and cannabis products.

Complies with minimum requirements to import cannabis

Chief Executive Officer of Medipharm Labs, Pat McCutcheon, said the company is excited to work with leading players like Compass Clinics to provide high-quality cannabis products to medical patients in Australia. The partnership with Cannabis Clinics helps the company to comply with the minimum requirements set by the Australian Government to import cannabis products.

Recently received import licenses, and Australian GMP certification helps the company to increase demand for its Pharma quality products. It also helps to expand its presence in the emerging worldwide markets and Australia.

Distribution of cannabis oil products in Australia

Medipharm Labs Australia will commence the supply of white-labeled cannabis oil under the trademark of Compass Clinics. The company will start receiving the formulated cannabis oil products from the Canadian TGA GMP certified facility of Medipharm Labs. It will distribute imported cannabis oil products to Compass Clinics in Australia.

President of Compass Clinics, David Martyn, said the company is pleased to offer GMP certified best-in-class, and pharmaceutical grade gel caps and cannabis oils to the growing patient base in Australia. He said Compass Clinics will benefit from its association with a leading producer of cannabis products – Medipharm Labs in serving its prevailing patient base. It also helps to expand its footprint in the surging medical cannabis space worldwide.

New scheduling status for CBD

The Australian authorities expect to consider a new scheduling status for cannabidiol. It expects to ensure the availability of CBD in low dosages early this year. The TGA is currently reviewing the safety of lower dosages of CBD.

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