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Canopy Rivers Inc (OTCMKTS:CNPOF) Issues A Corporate Update: Reports An Operating Income Of $930,000 In Q2 2020



Canopy Rivers Inc (OTCMKTS:CNPOF) has reported an operating income of $930,000 in Q2 2020. It is on the backdrop of interest, royalty, and lease income. The venture capital firm graduated to TSX and trades under the symbol – RIV. It has introduced a strategic advisory board and is working closely with the portfolio companies in Q2. Chief Executive Officer and President of Canopy Rivers, Narbe Alexandrian, said the portfolio companies achieved several milestones in this quarter.

Health Canada awards licenses

Health Canada awarded licenses and amendments to its portfolio companies to facilitate cannabis oil sales. Some portfolio companies acquired key targets and introduced businesses in Canada. To achieve long term success, Canopy intends to develop a robust system that is mutually beneficial for cannabis companies.

Investment opportunities for Canopy

CFO of Canopy, Eddie Lucarelli, said the cannabis companies are growing given the positive momentum despite the challenging capital market conditions in the quarter. Canopy expects to derive investment opportunities going forward from the matured market and a strong balance sheet. The company will focus on providing capital to the cannabis industry disruptors and create a long-time wealth for the shareholders.

Corporate updates

The strategic advisory board helps to provide value and guidance to the executive team to strengthen and build portfolio companies.

TerrAscend signed an accord to takeover a cultivator in California that owns state flower and premium cannabis flower brand. It also acquired Pennsylvania based Ilera Healthcare. TerrAscend’s subsidiary – TerrAscend Canada Inc signed a distribution accord with an Israel based pharmaceutical technology firm – Syqe Medical Ltd to introduce Syqe Inhaler in the Canadian market. It also roped in a distributor from Germany and commenced sales in Europe. TerrAscend Canada is the only company that has cannabis sales in the EU, the US, and Canada. It has received a license amendment from Health Canada to commence cannabis oil sales in Canada through Solace Health, an online sales platform for medicines.

The portfolio companies of Canopy are preparing to introduce Cannabis 2.0 in Canada. They are seeking license amendments that facilitate the sale of extracts, edibles, and topical in the Canadian market.

The online distribution platform of Spectrum Therapeutics allows the consumers to buy Strawberry Fire OG, Orange CKS, and Clementine Purp of Radicle Medical Marijuana Inc.


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)



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



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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Kannalife Inc (OTCMKTS:KLFE) Announces Receipt Of Australian Patent To Treat Hepatic Encephalopathy



Kannalife Inc (OTCMKTS:KLFE), a portfolio company of Medical Marijuana Inc (OTCMKTS:MJNA), has received an Australian patent No. AU2015204609B2, which is specific to the Novel Functionalized 1,3-Benzene Diols as well as their method to cure Hepatic Encephalopathy. Kannalife owns seven patents across the world.

Committed to widen cannabis knowledge

Chief Executive Officer of Medical Marijuana, Dr. Stuart Titus, said Kannalife and Medical Marijuana are committed to accepting cannabinoid and cannabis-related studies and widening knowledge worldwide. Kannalife is embarked on this target with new patients in six nations.

KLS-13019, a leading candidate in the intellectual property of Kannalife, can act as a neuroprotective agent to cure a wide range of diseases that comprise neurodegenerative disorders, oxidative stress, and nervous system disorders. Chief Executive Officer of Kannalife, Dean Petkanas, said the company is pleased that several jurisdictions recognized its Intellectual Estate as proprietary and novel.

The patent is vital to commercialize KLS-13019

The receipt of an Australian Patent is an important step in gearing towards commercializing its leading drug candidate – KLS-13019 soon. It expects to market the drug in the pharmaceutical market of Australia. The demand for Australian pharmaceuticals expects to reach $32.1 billion this year.

After applying for PCT patent in 2015, Kannalife received the following patents:

The US Patent No 10,044,722 “a method to cure hepatic encephalopathy or diseases related to the free radical medical stress as well as oxidative stress using novel functionalized 1,3-benzene diols.”

The US Patent No 9,611,213 “an innovative functionalized 1,3-Benzene Diols and their methods to cure hepatic encephalopathy”.

The company also received Russian and Japanese patents.

Kannalife commences trading on the OTC markets

Kannalife is pleased to announce that it commences trading under the ticker symbol – KLFE on the OTC markets. After becoming an investor in Kannalife in 2013, Medical Marijuana now holds a stake of 26.17%.

Stuart said the company is excited that the general public and investors can contribute to the funding of Kannalife’s R&D programme in cannabinoid-therapeutics. The market for cannabinoid-based pharmaceuticals in the US expects to reach $50 billion in the next decade. Marijuana, as an early investor in Kannalife, believes that its portfolio of IP assets and ground-breaking research helps the company to stay ahead in the race.

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