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Zenabis Global Inc (OTCMKTS:ZBISF) Reports A 112% Increase In Yield Of Dried Cannabis In Q3 2019: Zenabis Expects To Achieve Capacity Of 111,200 Kg By End Of 2019

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Zenabis Global Inc (OTCMKTS:ZBISF) reported an increase of 112% in the yield of dried cannabis in Q3 2019. The yield of dried cannabis is 5,239 kg in Q3 2019. Its licensed annual production capacity increased to 57,000 kg from 23,100 kg in the previous quarter on the backdrop of receiving cultivation license and key license amendments.

Applies for a license amendment

Zenabis Global applied for amendment of the license for its facility at Langley for growing areas that total 101,300 Sq. Ft. The company could increase its annual production capacity to 96,400 kg (up 69%) on receipt of the amended license.

Increases cultivation yields and licensed capacity

CEO of Zenabis, Andrew Grieve, said the company improved the yield capacity and licensed capacity in Q3 2019. It also mobilized funds of $65 million and applied for license amendments to enhance the annual production capacity by more than 300% when compared to the previous quarter. The license amendments at Zenabis Langley and Zenabis Altholville, the introduction of Re-Up brand, and entry into the Ontario market help the company to compete with peers in Q4 and beyond.

Andrew further said the company would achieve the licensed capacity of 111,200 kg by the end of 2019. The company resolved the packaging challenges in September. Its recreational shipments increased to 830 kg (up 93%) in October 2019 from the previous month. He is excited that the company shipped higher units in the first half of Q4 2019 on the backdrop of improved consumer appetite for high value and high-quality products.

Zenabis enters a supply accord

Zenabis entered a supply agreement with an Ontario Cannabis Retail Corporation. As per the terms of the contract, Ontario Cannabis will deliver recreational cannabis products to retailers across the province.

Zenabis also signed a supply accord with Canadian Beverage Technology Company. As agreed, the Canadian Beverage will supply colorless, flavorless, odorless, and water-soluble cannabis-infused inputs to Zenabis. The company will use those inputs to manufacture cannabis-infused beverages. The company also entered a pact to source clones from Tantalus Labs Ltd.

The gross revenues of Zenabis declined to $13.423 million in Q3 2019, from $26.47 million in the previous quarter.

Business

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)

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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

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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

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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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