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Aura Announces Pharmadrug Operational & Investor Relations Update

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TORONTO, Aug. 13, 2019 (GLOBE NEWSWIRE) — Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ, OTCQB:LMLLF) is pleased to provide an operational update on Pharmadrug Production GmbH (the “German Business” or “Pharmadrug”) and additional resources allocated to investor relations.
Pharmadrug German OperationsFollowing Aura’s German operational update on June 5, 2019, Pharmadrug received its second, much larger shipment of medical cannabis from Netherlands at the end of June. July and August sales have been tracking nearly 300% higher than the previous four months.Currently, Pharmadrug has a 190 kg 12-month allocation from the regulator in Germany, The Federal Institute for Drugs and Medical Devices, known as BfArM (“BfArM”). The allocation is sourced solely from Netherlands.Based on Pharmadrug’s current growth trajectory and the continued chronic supply shortage of medical cannabis in Germany, management is confident in its ability to distribute its full allocation of cannabis over the next several months. While this is dependent on a variety of factors, including continued available supply from Netherlands, management believes it is readily achievable. Based on the current selling price of EUR 9,50 per gram, this would equate to ~CAD$2.7M in 12-month revenue for Aura.Additional Growth Planned for Fiscal 2020Management sees two ways to materially increase Pharmadrug’s German supply and revenue for F2020:Increase in the quota from BfArM, achievable once current allocation run rates have been met.Source additional suppliers of cannabis.  The Company is in active supply discussions with producers in both Canada and Israel, adding to the current 190 kg quota. Aura already has a supply agreement with FSD Pharma (“FSD”, CSE:HUGE), and is working to equip FSD with EU-GMP certification. Management is confident it can add supply from at least one new producer in both Canada and Israel in 2020.Expansion Into Additional European MarketsAura plans to grow its distribution platform beyond Germany into other European Union countries. Pharmadrug is a Schedule I Narcotics distributor, allowing the German Business to export GMP medical cannabis to other EU countries as and when those countries legalize cannabis. For instance, Poland awarded medical cannabis import licenses in 2018 and began importing this year. The French Senate passed a bill in June for a trial run of CBD, trace-THC medical cannabis. With no plans of domestic cultivation, France will require importation of GMP medical-grade cannabis. As well, Italy is currently importing from Netherlands.Aura and Pharmadrug’s supply agreement discussions address the needs for German demand as well as the requirements for other European markets, including strains with high-CBD and trace-THC. As per our previous operations update (June 5, 2019), Aura believes Israel will be a major supplier of medical cannabis to the European markets due to its adherence to EU-GMP standards, established R&D, and product development policies. Aura intends to be a key player in bringing Israeli supply to the European markets via Pharmadrug.Investor RelationsAura continues to invest in its investor relations strategy as management believes the Company’s story is not yet well understood by Canadian and international investors. Aura has extended its agreement with Adelaide Capital (“Adelaide”) for a three-month term. Adelaide is a small-cap investor relations firm with relationships in both the institutional and retail landscapes in the Canadian and U.S. markets. Under the terms of the agreement with Adelaide, Adelaide will receive $8,000 per month and 100,000 options with an exercise price of $0.22 expiring on August 24, 2021 and vesting immediately.In addition, the Company has retained Wizard Media Group BV (“Wizard”) which operates the website www.smallcaps.us. Wizard has tens of thousands of followers in Europe and North America and since 2003 has assisted hundreds of Canadian-listed companies attain a broader investor following. Wizard will focus on adding a European investor following for Aura’s German-focused business. For the six-month term, Wizard will be paid EUR 15,000.About Aura Health Inc.Aura Health is building a vertically-integrated cannabis business focused on Europe and Israel. The Company (i) owns 80% of Pharmadrug, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU, (ii) owns a convertible note convertible into  54% of the outstanding equity of HolyCanna Ltd., a cultivation and nursery license holder in Israel, and (iii) has a binding LOI to purchase 57% of CannabiSendak Ltd., the builder of a network of dispensaries in Israel. Additionally, through significant extraction IP, Aura is dedicated to building a high-margin, downstream business of end-user products.For further information, please contact:info@aurahealthinc.comDaniel Cohen, CEO
Aura Health Inc.
(647) 202-1824
David Posner, Chairman
Aura Health Inc.
(647) 985-6727
Deborah Honig, Investor Relations
Adelaide Capital Markets
(647) 203-8793
Caution Regarding Forward-Looking Information:THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of Aura. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include reference to Pharmadrug’s ability to distribute its full allocation of cannabis over the next several months and potential revenue therefrom, Pharmadrug’s  ability to increase supply of cannabis and increase its permitted allocation for Germany, the Company’s ability to expand into additional European Union markets, the role of Israeli as a major supplier of medical cannabis and the ability of the Company to building a high-margin, downstream business of end-user products. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to locate additional supply of medical cannabis, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change.All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/13/1901049/0/en/Aura-Announces-Pharmadrug-Operational-Investor-Relations-Update.html?f=22&fvtc=5&fvtv=41223728

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Indus Holdings, Inc. Reports Record Revenue in the Second Quarter 2019 Financial Results

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SALINAS, Calif., Aug. 21, 2019 (GLOBE NEWSWIRE) — Indus Holdings, Inc. (“Indus”) (CSE:INDS), a leading, vertically integrated cannabis company, today announced its financial results for the fiscal second quarter ending June 30, 2019. 
Second Quarter Financial and Business HighlightsGenerated second quarter record revenue of $9.7 million, 183% year-over-year and 51% sequential growthAdded 87 new dispensaries during the quarterAnnounced acquisitions of CBD brands Shredibles and Humble Flower Co.Entered Nevada and Oregon markets through its pending acquisition of W Vapes, a licensed multi-state manufacturer and distributor of cannabis productsCompleted the renovation of its state-of-the-art 15,000 square foot distribution center in Salinas, Calif.“I am proud of our team’s results and the successes that we demonstrated in the second quarter,” said Indus Holdings, Inc. Co-Founder and Chief Executive Officer Robert Weakley.  “During the quarter, we continued to execute on the four pillars of our strategy by investing in our portfolio of brands, expanding our distribution, entering new markets through acquisitions, and producing the highest quality products.”“I believe we are uniquely positioned in our markets,” Weakley continued.  “The infrastructure that we built over the last few years will give us the capacity to expand within the California market, and we plan to replicate our success in the Nevada and Oregon markets and beyond.  I believe we have the management team and infrastructure to execute on our plan and to position ourselves as a leader in the markets we enter with our portfolio of brands.”Fiscal Second Quarter 2019 Earnings Call Details
Indus plans to host a conference call with management today at 5:00 p.m. ET.  The call can be accessed using the following dial-in information:
U.S and Canadian Toll-free:        +1 877-407-0789
International:                                +1 201-689-8562
Please dial-in at least 15 minutes before the call to register. To be added to the Indus Holdings, Inc. email distribution list, please email ir@indusholdingco.com with Indus in the subject line.About Indus Holdings, Inc. 
Indus Holdings, Inc. (CSE:INDS) is a vertically-integrated cannabis company with advanced production capabilities, including cultivation, extraction, manufacturing, brand sales & marketing, and distribution. Founded in 2014 and based in Salinas, California, Indus offers services supporting every step of the supply chain and an extensive portfolio of award-winning brands, including House Weed, The Original Pot Co., MOON, Acme, Beboe, Dixie Elixirs & Edibles, and Orchid Essentials. Indus Distribution, a division of Indus Holdings, Inc., is a leading distributor of cannabis products, servicing an extensive portfolio of brands and licensed retailers.
Use of Non-IFRS Financial Information
To supplement the Company’s financial results presented in accordance with International Financial Reporting Standards (“IFRS”), Indus uses non-IFRS measures to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate the Company’s financial performance. These non-IFRS financial measures are adjusted EBITDA, adjusted gross profit, adjusted gross margin, and non-IFRS net earnings (loss). Management believes that these non-IFRS financial measures reflect the Company’s ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as they facilitate comparing financial results across accounting periods and to those of peer companies. Management also believes that these non-IFRS financial measures enable investors to evaluate the Company’s operating results and future prospects in the same manner as management. These non-IFRS financial measures may also exclude expenses and gains that may be unusual in nature, infrequent or not reflective of the Company’s ongoing operating results. Since these measures are not calculated in accordance with IFRS, they should not be considered in isolation of, or as a substitute for, our reported results as indicators of our performance, and they may not be comparable to similarly named measures from other companies. The tables below reconcile our results of operations in accordance with IFRS to the adjusted results mentioned above:
Reconciliations of Selected Non-IFRS Financial and Performance MeasuresAdjusted gross profit excludes the fair value adjustments for biological assets. Management believes this measure provides useful information as it removes fair value metrics tied to increasing stock levels (decreasing stock levels) required by IFRS.Adjusted gross margin is excludes the fair value adjustments for biological assets. Management believes this measure provides useful information as it represents the gross profit based on the Company’s cost to produce inventory sold and removes fair value metrics tied to increasing stock levels (decreasing stock levels) required by IFRS.Adjusted EBITDA is net income (loss), excluding the effects of income taxes (recovery); net interest expense; depreciation and amortization; non-cash fair adjustments on investments; unrealized foreign currency gains/losses; non-cash fair value adjustments on sale of inventory and on growth of biological assets; and other transactional and special expenses, such as acquisition costs and expenses related to our reverse takeover, which are inconsistent in amount and frequency and are not what we consider as typical of our continuing operations.  Management believes this measure provides useful information as it is a commonly used measure in the capital markets and as it is a close proxy for repeatable cash generated by operations.

Fiscal 2019 IFRS operating expenses comprised of $1.8 million in charges related to the Company’s reverse takeover and acquisition activities. Management believes this measure provides useful information as the Company incurred significant expenses in connection with its reverse takeover and acquisitions, which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations.
Forward-Looking Information and StatementsThis press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Indus’ beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Indus’ control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved.” The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of the Company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.  There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Indus’ current beliefs and is based on information currently available to Indus and on assumptions Indus believes are reasonable.Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Indus to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; operating and development costs; competition; changes in legislation or regulations affecting Indus; the timing and availability of external financing on acceptable terms; the available funds of Indus and the anticipated use of such funds; delay or inability to complete an acquisition; favorable production levels and outputs; the stability of pricing of cannabis products; the level of demand for cannabis product; the availability of third-party service providers and other inputs for Indus’ operations; and lack of qualified, skilled labor or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Indus’ disclosure documents, such as Indus’ listing statement filed on the SEDAR website at www.sedar.com. Although Indus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement.The forward-looking information contained in this news release represents the expectations of Indus as of the date of this news release and, accordingly, is subject to change after such date. However, Indus expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.  Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed, or accepts responsibility for the adequacy or accuracy of, the content of this news release.
Investor Relations Contact
Gwyn Lauber
Indus Holdings, Inc.
ir@indusholdingco.com
Media Contact
Renata Follmann
Rossetti Public Relations
pr@indusholdingco.com

 
 

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/21/1905101/0/en/Indus-Holdings-Inc-Reports-Record-Revenue-in-the-Second-Quarter-2019-Financial-Results.html?f=22&fvtc=5&fvtv=41223728

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AGCO releases results of the second cannabis lottery: 42 applicants notified to apply for a cannabis Retail Store Authorization in Ontario

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TORONTO, Aug. 21, 2019 (GLOBE NEWSWIRE) — The Alcohol and Gaming Commission of Ontario (AGCO) has released the results of the cannabis retail store lottery draw it held on August 20, 2019. The lottery provided those who met pre-qualification requirements for one of the 42 new store authorizations announced by the Government of Ontario on July 3, 2019, an opportunity to be selected to apply for one.
4,864 eligible expressions of interest were included in the lottery draw, which was overseen by a third-party fairness monitor. The AGCO has notified the following 42 selected applicants that they may now apply for a cannabis Retail Operator Licence and a Retail Store Authorization. Applicants have until August 28, 2019 to do so, at which point the AGCO will undertake its full eligibility and licensing review. The AGCO will only licence applicants and authorize stores that meet all legal and regulatory requirements.SELECTED APPLICANTS AND THEIR PROPOSED STORE LOCATIONSEast Region:GTA Region:North Region:Toronto Region:West Region:ADDITIONAL INFORMATIONAllocation lottery resultsSummary of lottery entries received by regionCannabis Retail Store Allocation Lottery RulesRegistrar’s Standards for Cannabis Retail StoresAbout the AGCO
The Alcohol and Gaming Commission of Ontario (AGCO) is an Ontario provincial regulatory agency reporting to the Ministry of the Attorney General (MAG). The agency was established on February 23, 1998 under the Alcohol, Cannabis and Gaming Regulation and Public Protection Act, 1996.
The AGCO is responsible for regulating the alcohol, lottery and gaming, horse racing and private cannabis retail sectors in accordance with the principles of honesty and integrity, and in the public interest.Media Contact:
Raymond Kahnert, Senior Advisor, Communications
(416) 326-3202, media@agco.ca 
FACT SHEETOn July 3, 2019, the Government of Ontario announced 50 new cannabis retail store authorizations would be made available. Of these 50 new stores, the AGCO will allocate up to 42 authorizations to applicants selected by lottery and eight to stores on First Nations reserves.Applicants who wished to participate in this lottery had to meet pre-qualification requirements, including confirmation from a bank, credit union, or caisse populaire that the applicant has the financial capacity to obtain $250,000 in cash or cash equivalents; confirmation from a bank, credit union, or caisse populaire that the applicant can obtain a Standby Letter of Credit in the amount of $50,000 within five business days of being notified of their selection; confirmation that the applicant has secured a suitable retail space, which will be available to them for operating a cannabis retail store no later than October 2019The required bank letters were provided to the lottery applicants by over 25 banking institutionsOnce the AGCO receives Retail Store Authorization applications from those selected in the lottery, residents of the community in which a store is proposed to be located will have an opportunity to provide written submissions if they believe the location of the store is not in the public interest, as defined by Ontario Regulation 468/18 made under the Cannabis Licence Act, 2018It is anticipated that stores will begin to open starting in October 2019, as they are readyThe AGCO has placed the applicants not selected in the lottery on Wait Lists for each Region, based on the order in which they were drawn. Applicants on the Wait List will be moved to the selected list if those ahead of them are found to be ineligible for a licence/authorization or are otherwise disqualifiedIn the future, if the Government proceeds with additional retail store allocations before moving to an open marketplace, any such allocations may be based on the results from this lottery

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/21/1904954/0/en/AGCO-releases-results-of-the-second-cannabis-lottery-42-applicants-notified-to-apply-for-a-cannabis-Retail-Store-Authorization-in-Ontario.html?f=22&fvtc=5&fvtv=41223728

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Infinity Supercritical Announces SDR Model X For Continuous Feed Hemp Oil Processing

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MADISON, Wis., Aug. 21, 2019 (GLOBE NEWSWIRE) — Infinity Supercritical LLC is introducing its industrial scale hemp oil processors that use water to extract full spectrum oil in under a second. Our modular botanical oil processors can extract oil from your organic hemp, with a capacity of 10,000 lbs to 100,000 lbs per day. The continuous feed process is the only in the industry that uses water as the solvent, to produce a eco-extracted oil, that can be labeled with organic and green branding.
Less than 10 percent of the 2019 hemp crop will be processed at fall harvest from the lack of botanical extractors. Based on the deluge of calls we get from farmers, wanna-be processors, and equity groups, there will be a huge bottleneck at this years fall hemp harvest.Hemp became Federally legal in 2019, which had farmers scrambling to get crops in the ground, many at the last minute in late spring. The lack of coordinated state regulation nationwide has resulted in a patch-work of states under cultivation, some more than ten-fold increase in acreage planted from last year.While many smaller fly-by-night processors turn to ethanol extraction. If not done properly, it produces a poor quality full spectrum hemp CBD oil. A full spectrum oil provides the most benefits to the body. Many operators choose to use activated carbon to filter out the green bitter tasting chlorophyll, which unfortunately also filters out the CBDs. The consumer may not know the difference when purchasing full spectrum oil, aside from being turned off from lackluster results.The result? Much of the hemp crop will go unprocessed, and some will go into long term storage and degrade.Infinity Supercritical LLC offers innovative one-touch processing technology using water as the solvent, and a visionary future for clean and quality full spectrum hemp CBD oil extraction.  Please visit https://sonicextractor.com for more information.G. Giese | CEO | Infinity Supercritical LLC | greg@infinitysupercritical.com

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/21/1904928/0/en/Infinity-Supercritical-Announces-SDR-Model-X-For-Continuous-Feed-Hemp-Oil-Processing.html?f=22&fvtc=5&fvtv=41223728

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