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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Finds Funding and Support in Concert

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) is another Canadian cannabis patch play to catch the “sell the news” bug following last week’s grand announcement of legal adult-use activity in Canada. We all knew it was coming. And the space still got hyped into it. So, it should come as no surprise to see this reaction. That said, Supreme is likely one to watch in the aftermath of this “monetization” process.

To build that out further, the company just announced that, further to its news release dated September 27, 2018, the Company has completed its bought deal offering for gross proceeds of $100 million, including the exercise in full of the underwriters’ over-allotment option, comprised of 6.0% senior unsecured convertible debentures of Supreme Cannabis at the issue price of $1,000 per Debenture, with a syndicate of underwriters, co-led by GMP Securities L.P. and BMO Capital Markets, and including Cormark Securities Inc., Eight Capital, Beacon Securities Limited and P.I. Financial Corp.

Supreme Cannabis Company Inc (OTCMKTS:SPRWF) promulgates itself as a company that engages in the production of medical cannabis in Canada.

The company was formerly known as Supreme Pharmaceuticals Inc. and changed its name to The Supreme Cannabis Company, Inc. in December 2017. The Supreme Cannabis Company, Inc. was incorporated in 1979 and is headquartered in Toronto, Canada.

The Company’s portfolio includes its wholly-owned subsidiary and flagship brand 7ACRES.

7ACRES is a federally licensed producer of cannabis operating inside a 342,000-square-foot facility in Kincardine, Ontario. 7ACRES is dedicated to providing consumers with a premium-quality product that recognizes its customers are informed, discerning and value a brand and culture that aligns with their principles. 7ACRES brand success has been reflected in provincial supply agreements, where 7ACRES’ product is consistently listed in the highest brand category available to recreational consumers.

The Company’s growing portfolio also includes an equity investment and long-term global distribution partnership with Lesotho-based Medigrow for the exporting of medical-grade cannabis oil.

The Supreme Cannabis Company has consistently set the standard for innovation in the sector, including the design of growing facilities and development of operational excellence metrics. We are confident that together with our flagship brand, proprietary technology and products, truly unique culture, and industry-leading team, we will deliver our shareholders consistent long-term value creation.

 

Aftermath

As noted above, SPRWF just announced that, further to its news release dated September 27, 2018, the Company has completed its bought deal offering for gross proceeds of $100 million, including the exercise in full of the underwriters’ over-allotment option, comprised of 6.0% senior unsecured convertible debentures of Supreme Cannabis at the issue price of $1,000 per Debenture, with a syndicate of underwriters, co-led by GMP Securities L.P. and BMO Capital Markets, and including Cormark Securities Inc., Eight Capital, Beacon Securities Limited and P.I. Financial Corp.

SPRWF has had a rough past five days of trading action, with shares sinking something like -26% in that time. It will be interesting to see if this news can help to shift that tone. So far, it has obviously helped to some extent, but not enough to repair recent damage.

According to the release, “The Company intends to use the net proceeds of the Offering for the construction and development of its existing and planned facilities in Canada. This includes the Company’s facility in Kincardine, Ontario under construction and the development and construction of a facility on land purchased by the Company that is situated adjacent to such facility. The balance of the net proceeds will be used for general working capital purposes. In addition, the Company views the completion of the Offering as an important milestone in qualifying for graduation to the Toronto Stock Exchange alongside other leading mature licensed producers in the Canadian cannabis industry.”

Supreme Cannabis Company Inc (OTCMKTS:SPRWF) generated sales of $3.5M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 71.3% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($55.9M against $22.9M).

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General Cannabis Corp (OTCMKTS:CANN) Plans To Acquire A Denver Vertically Integrated Cultivator And Retailer

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General Cannabis Corp (OTCMKTS:CANN) is pleased to announce that it will soon make its latest acquisition. However, it first needs to make its entry into a non-binding term sheet. The target is to acquire a huge deal of assets belonging to one Colorado-based licensed recreational cannabis cultivator.

About the business deal

This Colorado business has been running some two indoor cultivation facilities. Asides from that, it has also been operating a retail cannabis dispensary which is situated in central Denver. This dispensary has risen to become one of the most trusted and successful dispensaries in Denver. Nevertheless, it prides itself in being the holder of a library of world-class cannabis genetics.

The Company has already signed the Colorado House Bill 1090 (“HB-1090”). Probably, this is the reason behind the latest activities the company has been undertaking. This law gives a leeway for the interested companies to acquire licensed cannabis companies in Colorado. The approval by the law might witness more companies follow suit in making these acquisitions.

Currently, the parties in charge are working on the various regulations in line with the implementation of the law. When finalized, the business giant reveals that it won’t hesitate in entering the binding transaction for the Business.

Focus into the future

General Cannabis has revealed its plan to purchase the Company’s common stock. These will include the company’s tangible and intangible assets. The business guru expects to pay 40% in terms of shares and sixty percent in form of cash. Focus will at some point shift to the number of common shares issued at closing. In this case, the determination will take into account the 30-day volume weighted average price.

The General Cannabis Chief Executive Officer and Executive Chairman Michael Feinsod expressed his excitement in the latest developments. He said that the acquisition of the third licensed Colorado cannabis operator was a major step forward for them. The official looks forward to the company expanding its business to central Denver. According to him, the planned move will show their dedication to an expansion strategy.

General Cannabis is set to also expand its customer base by a significant margin if all moves according to plan.

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Leafbuyer Technologies Inc (OTCMKTS:LBUY) To Create A Mobile App With Blockchain Capabilities

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Leafbuyer Technologies Inc (OTCMKTS:LBUY) today spoke at length regarding the development of a new mobile application. The company spent several months in the creation of the all-encompassing application. One top official working with the business says that they will soon give a Press release regarding the latest move.

The application

The uniqueness of the application lies in how it manages to merge the various aspects of functionality. These include Leafbuyer’s search technology and the current deals. The business guru has also designed some blockchain wallet capabilities. The purpose is to ensure that the company’s loyal customers get the most from the move.

The CEO of Leafbuyer Kurt Rossner opines, “Leafbuyer provides multiple technology solutions to help businesses in the cannabis industry to attract and retain consumers. The integration of blockchain technology within the mobile application will boost transparency and provide accessible information regarding transactions and loyalty points.”

Leafbuyer says that the hosting of its wide range of products on multiple platforms will see it generate high profits. The tablets at participating dispensaries, the Leafbuyer app, and the Greenlight app are all remarkable platforms according to analysts.

This new application is all about centralizing the experience of the various consumers. Soon, the application will be distributed via the iOS App Store and the progressive web application (PWA).

Views about the future

The COO of Leafbuyer, Mark Breen, has spoken in relation to the much-awaited rollout. The official says that they look forward to seeing their consumers interact much more easily with clients. According to him, the ongoing efforts on the connection develop a good reputation for the company. Sooner or later, Leafbuyer will become very important for product company clients and dispensaries across the country.

Most of the consumers are looking forward to the completion of this app. They say that it will make it a lot easier for them to search for deals and businesses. The other services they will enjoy include the ordering of their favorite products as well as getting other items delivered. Those consumers that need to keep track of their loyalty points will do it more easily.

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Cannabis Science Inc (OTCMKTS:CBIS) Confirms The Success Of Its Reorganization Activities

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Cannabis Science Inc (OTCMKTS:CBIS) has spoken in regards to its European business. The company outlines that its reorganization activities have been successful. For that reason, it is hopeful that it will be able to fulfill most of its customers’ requirements. The business giant also takes its stakeholders and business partners seriously and seeks to satisfy their needs effectively.

Company’s areas of focus

The reorganization is set to take efficiency of the CBIS’ European operations to the next level. This is according to one of the top executives in the company who believes the operation should be effective as well. The official says there is need to set in place the necessary infrastructure. This will make it possible for the business to manage its own supply chain logistics. The company also needs to focus on other areas such as revenue growth and new product development.

Cannabis Science has also settled on The Netherlands as the headquarters for its cultivation, extraction, and manufacturing activities. The company also wishes to let interested parties understand that it has already dissolved its former operations in Germany.

Mr. Dabney’s perspective

The Chief Executive Officer and also a co-founder Mr. Raymond C. Dabney outlines that they want to be more aggressive. They want to pay attention to major areas such as cultivation, product development activities and extraction. According to the top executive, the company wants to merge all its activities in Europe and let all of them run in a single organization.

Earlier, the initiatives were run through joint ventures. The parties here were CBIS Europe GmbH and Dupetit GmbH but will now run under CBIS Holding B.V. Dabney is confident that they will succeed in their efforts targeted at growing their business throughout the European market.

CBIS Holding B.V. is working on its business plans. Hopefully, it will be manufacturing and distributing the current CannaPOW® and Cannabia® beverage line. The other products it will be dealing in will be the hemp and cannabis-infused products.

Mr. Dabney has also confirmed that the company has also achieved other major business developments in the U.S. The recapitalization of CBIS preparations are currently underway and are running alongside the new important projects.

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