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Health Canada Awards Production And Cultivation License To Manitoba Based Cultivation Facility Of MJardin Group Inc (OTCMKTS:MJARF)

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Health Canada has awarded production and cultivation license to MJardin Group Inc (OTCMKTS:MJARF) for Manitoba based cultivation facility (120,000 Sq. Ft. retrofitted facility). The company has completed phase 1 cultivation and expects to begin cultivation at this facility soon.

A great milestone for MJardin

CEO of MJardin, Pat Witcher, said it is a great milestone for the Winnipeg, Manitoba based flagship facility and the team. It has accomplished the facility at the right time and expects to achieve full capacity by the end of next year. The company can reap rich dividends by focusing on extraction at this facility and the high-value market.

High quality dried flower

MJardin expects to complete phase 2 build-out in Q4 2020. The phase 1 and phase 2 areas comprise greenhouse and indoor production capacity. They will also have EU GMP certified processing, extraction, and packaging. With the completion of phase 2 build-out, MJardin would expect to produce 800 liters of bulk oil. It will also produce 4,500 kg of good quality dried flower.

Receives a payment of CAD 11 million

MJardin has received a payment of CAD 11 million on October 4, 2019, towards an LOI JV accord with Peguis First Nation. As per the terms of the deal, Peguis will acquire the buildings and land of MJardin. It will also provide funding of CAD 20.5 million to complete phase 2 of the facility. It is the third cultivation and production facility of MJardin. The company expects to receive a second sales license and fourth cultivation license soon.

Glenn Hudson, Chief of Peguis, said his partners are putting in significant efforts to accomplish full production next year. The facility will also generate employment and contribute to the economy.

MJardin has reported revenues of CAD 7.6 million (down 17.39%) in Q3 2019. Its net loss increased to CAD 12.43 million in Q3 2019 when compared to the same period last year. It has reduced the corporate overheads to improve efficiencies.

MJardin will begin the monthly supply of 250 kg from its AMI facility as per the EU supply accord. The company would release the revised guidance in early 2020.

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GB Sciences Inc (OTCMKTS:GBLX)’s PD Formulations Show Positive Effect In Reducing Behavioral Changes In Patients Suffering From Dopamine Producing Neurons Loss

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GB Sciences Inc (OTCMKTS:GBLX) is encouraged by the PD (Parkinson’s disease) formulations effect on patients suffering from the loss of dopamine-producing neurons. Halifax based NRC’s Dr. Lee Ellis is performing the study using the PD formulations of GB Sciences on people suffering from low levels of dopamine-producing neurons. The company will conduct the final study on the mechanism of action using these PD formulations that help to provide relief for patients.

Human clinical trial begins next year

Director and Chief Scientific Officer of GB Sciences, Dr. Andrea Small-Howard, said the mixtures of GB Sciences are effective. Its most effective mixture has shown positive results in reducing the behavioral changes and brings back to the normal level when tests are conducted on animals. According to CSO, the PD formulation has shown almost negligible side effects. The company will include these preclinical results as a proof of concept when applying for investigational new drug application with the FDA. Following the nod of the US FDA, GB Sciences will begin a human clinical trial next year.

Reduced dopamine levels cause movement disorders

Reduced dopamine levels in the brain are responsible for movement disorders. The PD formulations, developed by GB Sciences, will protect the dopamine-producing neurons. It will activate the surviving to increase secretion of dopamine and compensates for the reduction in dopamine-producing neurons. The company will examine these effects of PD formulation in the final study.

Director and President of GB Sciences, Dr. Michael Farley, said positive preclinical trial shows CBD containing complex mixtures expect to cure Parkinson’s disease symptomology. He further said the company would conduct the human clinical trials using these effective PD formulations in 2020.

Signs a binding LOI to sell membership interests

GB Sciences has signed a binding LOI to divest 75% of the membership interests in its Las Vegas, Nevada production operation, and cultivation. Following the deal, GB Sciences will reduce its operational spending and produce working capital. It will also generate sufficient cash flow to concentrate on wellness and biopharmaceutical assets. Following this deal, GB Sciences will exit from cannabis production and cultivation. The company will receive $6 million that includes $3 million in cash and the balance promissory note.

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Puration Inc (OTCMKTS:PURA) Expects To Report Revenues Of $16 Million In 2020

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Puration Inc (OTCMKTS:PURA) expects to post revenues of $16 million in 2020 after it introduced the white label cannabis-infused beverage bottling business last week. The company will use its production experience, cannabis-infused beverage formulation, and the growing bottling capacity to clinch a bigger share of the beverage sector worldwide.

Puration has already expanded production capacity and putting in efforts to receive white label contracts. The company will reveal the exact revenue target for the next year within ninety days after assessing the white label contract’s potential.

Confirms target of $4 million for 2019

Puration has confirmed the revenue target for 2019 at $4 million. It has set an initial target of $8 million for 2020. The company has set both the targets considering the ongoing expansion of sales of EVERx Sports Water and its current manufacturing.

Puration has introduced EVERx Sports Water at Arnold Sports Festival three years back. It has expanded the marketing efforts for its EVERx Sports Water across the world by taking part in Arnold events in Europe, Africa, and the US. The leading CBD infused beverage – EVERx is now distributed in Latin America, Africa, the US, and Europe.

Raises target to $16 million in 2020

Puration has revised the initial revenue target of $8 million for the next year to $16 million, considering the recent business expansion. With the progress of expansion in Latin America, Europe, and the US, the company is expecting to distribute EVERx in Canada. The company expanded its production capacity in the past several months through alliances and acquisitions. Demand for CBD beverages is expected to reach $1.4 billion by the year 2023.

First CBD Beverage Bottling Contract From Overseas

In Europe, Puration has entered a pact to start bottling EVERx CBD Sports water. The company acquired a firm for bottling in Europe. It is part of the company’s efforts to improve the bottling capacity across the world.

Puration signed a distribution accord in Europe and expects to report sales of $4 million from this initiative next year. To achieve sales exceeding $4 million needs the establishment of a bottling plant locally. The market for CBD in Europe is expected to reach $17 billion by the year 2023.

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Micron Waste Technologies Inc. (OTCMKTS:MICWF) Suspends Cannavore Waste Digester System Development

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Micron Waste Technologies Inc. (OTCMKTS:MICWF) has suspended the development of the Cannavore digester system because of changing market needs. It has completed a prototype of Cannavore, which is capable of processing cannabis waste, and the resultant is clean water.  The company has abandoned the project because of a lack of funding from the cannabis industry.

Organivore organic food waste digesting system

Dr. Bob Bhushan, the Director and founder of Micron, has led the development of the Organivore™ organic food waste digester system.

Applies for patent

The board of Micron will use 2.5 million shares of Palladium One Mining Inc and working capital of $3 million for strategic value acquisitions. The company applied for a patent for its Pharmavore System. Micron’s patent application covers the treatment of waste that comprises illicit substances, pharmaceuticals, and drugs. It will use the system to process waste seized by law enforcement during transit. The company will conduct a feasibility study on the prototype of the system in Q1 2020.

Changes in management

According to a communiqué from Micron, Alfred Wong, CEO and President, and Cam Battley, a Board member and Audit Committee chair, will demit the office. Micro expressed gratitude to Wong and Cam for their guidance and leadership and wished them a bright career ahead.

Micron’s chairman, Kal Malhi, will act as an interim president and CEO with effect from January 2, 2020, until alternate arrangements are made. It has appointed Michael Malana to Director Board with immediate effect. Michael will also act as the Chair of the Audit Committee. Michael will contribute over 15 years of experience in financial and accounting services and administration. His present stint is as Chief Financial Officer at Growmax Resources Corp.

An article in CFN Media Group

CFN Media Group featured an article on Micron and a technical solution developed by the company to solve solid waste disposal problems. High volumes of cannabis waste are causing an environmental problem because growers dispose of biomass that comprises sub-optimal flowers, stems, and trimmed leaves. The wastewater released from cannabis operations is also causing havoc and contaminating the environment. Micron has come with a solution called Cannavore to address this growing menace. The waste processing system comprises an effluent treatment system, digester, and automated shredder. It consumes cannabis waste and produces clean water.

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