The U.S. subsidiary of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) wants to acquire a company known as WSCC, Inc. This new acquisition is based in Nevada and is a vertically licensed cannabis business having about two dispensary locations. It also has cultivation/production facilities in Carson and Reno City expanding to about 20,000 square feet.
Company expands its presence in Nevada
Market observers see the new acquisition as a major step forward for the company. They say that it will go a long way, expanding the iAnthus’ presence and will also ramp up growth efforts in the state of Nevada. One outstanding attribute about Nevada is the fact that it has quite a significant number of adults using cannabis. It is a market that may even reach $640 million. This cannabis market has been growing at a fast rate, and on an annual basis, it has been at about 20%. This is according to results unveiled by the Nevada Department of Taxation.
iAnthus Capital Holdings wants to obtain six licenses for its dispensaries across Nevada. Two of these dispensaries are under the Sierra Well brands are already in operation. The company has also spoken about its 50,000 square feet of cultivation land in Nevada. It seeks to capitalize on its remarkable processing capabilities to ramp up production and take goods distribution a notch higher. Some of its products include some award-winning concentrates and edibles as well. The company’s products are being sold in a large number of dispensaries across Nevada. From statics, about 40% of the dispensaries here sell the company’s wide range of products.
It was back in 2014 that Sierra Well was founded and everything seemed to be moving pretty fast. For instance, by 2015 it had already managed to open up its Reno location. A year later, it opened its Carson City location.
The transaction to acquire WSCC may come to a close within the first half of 2020. This will be subject to the customary regulatory approvals, for instance, the one from the Nevada Department of Taxation. After the transaction, there are plans to rename the Sierra Well dispensaries. It is going to be renamed under iAnthus Capital’s Be. brand set to be unveiled nationwide in October this year.
ELEV8 BRANDS IN/SH SH (OTCMKTS:VATE) Is Ready To Manufacture New CBD Iced Tea And CBD Iced Coffee
ELEV8 BRANDS IN/SH SH (OTCMKTS:VATE) has launched a new line of business. The holding company, which develops hemp and CBD-based products have taken the line of manufacturing new CBD Iced Tea and CBD Iced Coffee. The company chose to start with the ready to drink beverages. It has also established through research that lemon is one of the most common and popular flavors of iced tea.
In the recent past, the beverage industry has been in the headlines for significant achievements. In 2017, U.S. tea and RTD tea category retail sales went up 4% compared to the previous year. Total sales stood at $7.8 billion.
The market is demanding CBD Coffees and CBD Iced Teas
Records have it that after water, tea is the second most consumed beverage in the world. There is a likelihood of finding it in close to 80% all U.S. households. Elev8 Brands CEO, Ryan Medico says that there has been a massive demand for CBD Coffees and Iced Teas, this is the sole reason the company has been putting so much effort to quell this demand.
Medico confirmed, “For the last few months, our team, vendors, and partners have been working hard to bring the vision of CBD Iced tea and CBD Iced Coffee.”
The CEO did outline that they were ahead of schedule regarding production. This is one of the platforms the company would use to increase on its existing network. The company is confident that it has created a fantastic product, which will take the lead in the market.
There are positive changes in the perception of CBD
Elev8 Brands, Inc. specializes in creating high-quality, fitness and wellness. On the other hand, a majority of governments have been fighting the legalization of CBD products. However, new laws, which came to effect at the beginning of the year will renew the perception many people have about CBD. The company is looking forward to tapping into these laws, which will also bring a huge and positive change to the industry.
Meanwhile, Elev8 Brands has appointed Darcie Ham into a full-time sales position. With all the experience she has in obtaining new business, product placement and merchandising, Medico says she is an excellent fit for the company.
International Consolidated Companies Inc (OTCMKTS:INCC)’s Subsidiary & Natures Renewable Form Partnership For Exclusive CBD Supply
International Consolidated Companies Inc (OTCMKTS:INCC)’s subsidiary company, BluDog Products LLC has entered into a strategic partnership with Natures Renewable LLC. Under this partnership, the Colorado-based company will become the exclusive CBD supplier. Also, the company was successful at generating a new source of funding for it as recently the IFG Opportunity Fund LLC made an institutional offer of $5 million dollars.
The funding will be offered only if INCC becomes fully reporting. Recent reports say that the company has already received 3 additional options for funding as it takes forward the business plan. IFG Opportunity Fund is known for investing their own capital which gives them the liberty to be more flexible with their funding operations. They offer funds at competitive prices which are not as restrictive as the other funds operating with the funds from private investors.
The private equity fund came into existence in 2004 with the view to investing in small growth companies by making private investments in public equities – PIPE’s. The company offered INCC the $5 million dollar funding as a part of its policy to provide debt, stockholder and equity loans to small-cap and micro-cap companies.
Natures Renewable To Become Exclusive Supplier
With the new strategic partnership with BluDog Products, Natures Renewable will have the exclusive rights to supply CBD isolate and full spectrum oil to the INCC’s subsidiary’s products. According to the agreement, the Colorado-based company will initially provide products of around 1,000 kilos on monthly basis to BluDog.
Managing Member of BluDog Products LLC, Antonio Uccello said, “This gives us the third leg to the stool, we have the BluDog brand, we are vertically integrating our manufacturing and we have supply of CBD to make great products that we feel will change people’s lives!”
Currently, the retail value of CBD is around $6000 to $10,000/kilo. BluDog is interested in introducing in the market water –soluble CBD oil super food and wellness drinks. The company already has license and patent for manufacturing and supplying the CBD-based products that are expected to become an alternative for the over-the-counter therapeutic medicines for promoting well-being and relaxation and also help the sports people get relief from the post-sports inflammation.
What Is Going On With Trans Global Group Inc (OTCMKTS:TGGI)?
Trans Global Group, Inc. (OTCPINK:TGGI) is the majority shareholder of BAHAMAS DEV CORP (OTCMKTS:BDCI) and has an exclusive marketing deal with Cannabis Consortium for its specialty offerings. The company reported that Bahamas Development has retained counsel to help the firm in filing a Form-10 with the SEC.
The newly engaged counsel has authored a legal view for the auditors so the audit of the firm can resume. The audit procedure was halted in January 2017 post the discovery of a deal that closed 2009. The audit team had completed moving the financials forward from the start of January 2014 through September 2016.
The audit procedure is anticipated to resume soon while the firm associates with its legal team to finalize the Form 10 filing. BAHAMAS DEV CORP is engaging a deal CFO to assist the firm in completing the audit procedure. The contract CFO will associate directly with the auditors from the side of the firm during the audit procedure and should help advance the process up. The Form 10 completion will bring improved transparency and additional liquidity to the firm’s shareholders.
Bahamas Development via its majority stake of Cannabis Consortium, Inc. is moving fast into the MJ segment. Over the imminent weeks the firm will be launching updates on its development in California. The firm has withdrawn filing of its incomplete name change with FINRA. This decision was grounded on the progress being recorded entering the MJ segment and prospective changes to the firm that might come as an outcome of future deals, such as the firm’s name and/or management.
Cannabis Consortium is constituted of four revenue streams compromising foodstuffs, beverages, specialty items and one research segment. Three of the revenue streams comes from edibles while the other revenue stream comes from investments. The research segment focus will be on the medicinal benefits of Cannabidiol oils for the cure of animals.
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