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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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Pharmacyte Biotech Inc (OTCMKTS:PMCB) To Hit Is Major Milestones This Year

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Pharmacyte Biotech Inc (OTCMKTS:PMCB) is looking forward to achieving some major milestones in time to come. The shareholders have a lot to gain if the company achieves its set targets.

This business guru says 2020 is its year since it is time it hopes to achieve these major milestones. The milestones to be achieved are in line with the company’s leading therapy for the locally advanced, inoperable pancreatic cancer (LAPC).

Investors hoping to benefit from the achievement of milestones

Investors in the stock continue hoping for a price appreciation as the company upholds its focus, achieving the milestones. The company’s Investigational New Drug application (IND) is set to reach the FDA any time soon. This is the first milestone that the shareholders expect to be achieved this year.

Pharmacyte requires approval from the body to engage in the administration of the product. It will be in the company’s Phase 2b clinical trial that it will be administering the product to the patients.

The submission of an IND a few weeks later will be followed by another major development. This will probably be the achievement of the second milestone, which is the FDA’s response. A positive response will see the business guru start the clinical trials of the product.

The IND and matters surrounding it

Upon receiving the IND, the FDA will do as it usually does with the other submissions i.e. notify Pharmacyte. It will do that through an IND letter of acknowledgment. Usually, the FDA has about 30 days to review the submission and offer a response.

However, some things would result in the body doing things out of the ordinary. This is when the FDA realizes that the application in question is subject to some clinical hold. In such a case, the body is left with no other choice but6 to collect more information.

The business guru will be looking forward to seeing the IND go through. This will probably mark the start of shipping the product to the various investigators outlined in the IND application.

The prevailing condition has always been for the investigator to wait until the FDA approves the IND to take the next move. That would probably be the delivery of the therapy to humans.

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Sugarmade Inc (OTCMKTS:SGMD) Clarifies That It Has Not Authorized Or Engaged Any Third Party For Promotional Activities

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Sugarmade Inc (OTCMKTS:SGMD) said it has not authorized or engaged any third-party for promotional activities of its common stock. The company is only aware of the news of unauthorized promotional activities through the communication of OTC Markets.

Sugarmade is not involved indirectly or directly

Sugarmade stated that it is not involved either indirectly or directly with the distribution, creation, or paid for the promotional materials related to its securities. It is not even known about such content or editorials for promotional activities. The company puts a heavyweight on marketing practices and investor relations.

Conducted due diligence

Sugarmade conducted due diligence into the unauthorized promotional activities involving its securities. The promotional activities comprised unvetted and incomplete information regarding its securities and business performance. After conducting an inquiry, the company said its directors, officers, or any beneficial owner of 10% of its common stock are not involved in the sale or purchase of its common stock in the past three months.

Authorized channels of information

Sugarmade issues press releases through corporate communications firm or NetworkNewsWire. The company has only engaged FN Press Wire, IR Pub LLC, and EHC Branding Agency for marketing related services, public relations, and investor relations in the last 12 months.

Enters the market of hemp extraction equipment

Sugarmade has entered the supply of laboratory and hemp extraction equipment. The company already started the supply of equipment for installation in a large facility in the eastern region of the US.

Jimmy Chan, Chief Executive Officer of Sugarmade, said the company is pleased to confirm the acceptance of initial components received from the producer and are in the transit to Western Kentucky. Sugarmade will record these revenues after delivery and installation in January this year.

East West BioPharma Group, Inc., an ordering entity, is constructing a laboratory and hemp extraction facility, which will have a daily distillate processing capacity of 1,000 hemp distillate. Sugarmade supplied high quality and highly efficient machines to meet the goal of East West Biopharma.

Sugarmade inked a pact with Chinese manufacturers, who have experience in the design and supply of equipment for the extraction of oils from terpenes, and medicinal plants.

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Medipharm Labs Corp (OTCMKTS:MEDIF) Completes Initial Shipments Of Indica Vape Cartridges: Receives Amended License To Begin Production In Barrie

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Medipharm Labs Corp (OTCMKTS:MEDIF) has completed the first shipment under a cannabis 2.0 accord with 1193269 B.C. Ltd. The company is offering high-quality cannabis extracts and filling services through MediPharm Labs Inc (MLI), its wholly-owned subsidiary. MLI also distributes custom formulated Shelter Vape Cartridges under the Wafarer brand across the nation.  Shelter House Brand, which is managed by 1193269 B.C. Ltd, has developed the Wafarer brand for the customers to enjoy uncompromised tastes in sleek product design.

Expanding white label portfolio

CEO of MediPharm Labs, Pat McCutcheon, said the company is one of the first license holders to introduce quality assured cannabis concentrates to the consumers in Canada. The company will use its platform built over several years to expand the white label portfolio with Shelter that focuses on developing top-notch brands for the customers.

Receives a license amendment

Health Canada has granted an amendment to the license allowing MLI to commence the production in a recently expanded area of the specialized manufacturing facility based in Barrie, Ontario. With this amendment, the total licensed footprint is increased to 25,000 Sq. Ft. The company can use a large chunk of the manufacturing facility for cannabis activities that comprise research and development, testing and quality control of cannabis, downstream production/ packaging, and secure storage for the distribution and fulfillment of new orders and support new product formulations.

Pat said the amended license allows the company to unlock the recent investments in expanded capacity and advanced capabilities at an appropriate time. The company focuses on the white label business and scale up its platform to satisfy the demand of customers.

Meets GMP for medicinal products

The Australian TGA (Therapeutic Goods Administration) has informed Medipharm Labs that its manufacturing facility in Canada complies with GMP (Good Manufacturing Practice) for medicinal products. It helps the company to increase its manufacturing capabilities across the world.

Department of Health and Human Services in Victoria, Australia, has awarded the state licenses to MediPharm Labs Australia Pty. Ltd, a subsidiary of MediPharm Labs Corp, for cannabis substances. The company completed the initial construction of an extraction facility in Wonthaggi. It will use the new facility for testing, storing, and R&D of cannabis.

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