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California Cannabis Market Expected to Reach $5.1 Billion Market Value

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PALM BEACH, Florida, June 19, 2018 /PRNewswire/ —

Marketnewsupdates.com Market Commentary 

The cannabis market could triple in size in the next four years, according to Arcview Market Research and BDS Analytics new report, ‘The State of Legal Marijuana Markets’. In fact, by 2022, the global cannabis market could be worth as much as $32 billion, a three-fold increase in just five years with the U.S. expected to fuel much of that growth with an expected market value of $23.3 billion. Much of the current growth we’re seeing comes from California’s cannabis market, which is expected to exceed $5.1 billion market value in the next year after legalizing its recreational use on January 1, 2018. Several legitimate cannabis market players include High Hampton Holdings Corporation (CSE: HC) (OTC: HHPHF), CannaRoyalty Corporation (OTC: CNNRF) (CSE: CRZ), CannTrust Holdings (TSX: TRST), Canopy Growth (NYSE: CGC) and MedReleaf Corporation (OTC: MEDFF).

With sizable growth in store for California’s massive cannabis market, investors have been increasingly attracted to companies with exposure to the state, including High Hampton Holdings and its 10.8-acre property in Coachella, California, as well as CannRoyalty Corporation and its strong focus on California’s cannabis consumer products goods.

California Legal Marijuana Attracting Big Business 

With nearly 40 million residents and more than a million medical marijuana patients, California’s market represents about a third of the North American cannabis market. Months after California legalized recreational marijuana, BDS Analytics estimates that sales could hit $3.7 billion by the end of 2018, as reported by Business Insider, predicting that number will reach $5.1 billion by 2019. Analysts at Cowen & Co. believe the nation’s legal cannabis industry could reach $50 billion by 2026, with California accounting for about $25 billion of that market, according to CFN Media Group.

Given the market growth, it’s no surprise that companies are increasing their stake in California.

CannaRoyalty Corporation is just one of a growing number of larger Canadian companies that are increasing their share of the market for example. The company recently acquired RVR, a large-scale distributor of both medical and recreational cannabis, Alta Supply, a smaller medical marijuana company, and Kaya Management, an edibles and vaporizer producer. In April 2018, it also acquired Flora-Cal Farms, a licensed ultra-premium cannabis producer.

MadMen Enterprises recently broke ground on a high-tech cannabis factory in Desert Hot Springs, California, the company’s second large-scale marijuana cultivation and manufacturing facility, reports New Cannabis Ventures. “The Desert Hot Springs facility is scheduled to open in early 2019 and service California’s fast-growing adult-use marijuana market.”

Even High Hampton Holdings Corporation (CSE: HC) (OTC: HHPHF) is just beginning to gain momentum, advancing its foothold in California’s cannabis market through acquisitions and property development.

High Hampton Holdings Dominance in California 

High Hampton Holdings offers an interesting opportunity in the state’s cannabis market, as it actively seeks to consolidate California’s cannabis industry through equity, royalty and direct property ownership with licensing agreements. For example, the company’s CoachellaGro Corp. is developing a 10.8-acre property that it plans to develop into a cannabis industrial park. On May 2, 2018, the City of Coachella’s Planning Commission granted a conditional use permit for the cultivation of marijuana.  

“With a conditional use permit for CoachellaGro in hand, we have created instant added value for this asset which will remain the cornerstone of our business model and be complemented by the aggressive acquisition process we have begun this spring as we consolidate the California cannabis market,” said High Hampton CEO David E. Argudo.

The company also announced it had entered into a binding agreement with 8 Points Management and its subsidiary Bravo Distro, a fast growing California cannabis distributor, to acquire 100% of all issued and outstanding shares of both 8 Points and Bravo. The deal will provide High Hampton Holdings with immediate access to a major distribution hub in Sacramento, California.

“Securing distribution is a crucial if not the most important component of a successful business model for the California cannabis market,” says CEO Argudo. “In 8 Points Management we have found a well-positioned operator that offers a full-service distribution model for our industry that will help us establish access to major distribution hubs in strategic locations throughout California including a prominent location in West Sacramento. Their team is renowned for already starting and operating another highly successful cannabis distribution outlet, and together, we are poised to succeed in building a leading cannabis distributor in California.”

With a market cap of less than $65 million, investors are increasingly attracted to the company, especially with several catalysts for growth, including the Coachella property and the recent acquisitions of 8 Points Management and Bravo. It would appear the company is in the early stages of actively consolidating California’s growing cannabis market to increase its value.  

Potential Comparables in the industry include: 

CannaRoyalty Corporation (OTCQX: CNNRF) (CSE:CRZ) is a private equity firm specializing in acquisitions. The firm invests in the legal cannabis sector with a focus on research and intellectual property, consumer brands, and industry infrastructure with a strong focus on California, one of the world’s largest cannabis markets.  

CannTrust Holdings (TSX: TRST) produces and distributes pharmaceutical grade medical cannabis products in Canada. It sells dried cannabis and oil extractions to the client based on the medication document provided by health care practitioner. 

Canopy Growth (NYSE: CGC) through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dried, oil, and soft gel cannabis products. Canopy Growth Corporation also sells its products through online.

MedReleaf Corporation (OTCPK: MEDFF) produces and sells cannabis-based pharmaceutical products in Canada. It offers dried cannabis, cannabis oils, and cannabis oil capsules; and various accessories, including grinders, vaporizers, and lockable containers.

For a more in-depth look at High Hampton Holdings Corporation (CSE: HC.CN) (OTCPK: HHPHF), please read the full report on MicroSmallCap.com.

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MediPharm Labs Australia Awarded Cannabis Manufacturing Licence From Office of Drug Control – Establishes Asia-Pacific Foothold

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TORONTO, May 21, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSXV: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, is pleased to announce that its subsidiary, MediPharm Labs Australia Pty. Ltd. (“MediPharm Labs Australia”), has received its cannabis manufacturing licence (the “Licence”) from the Australian Office of Drug Control under the Narcotics Drugs Act 1967  on May 21, 2019. This is a significant milestone for MediPharm Labs that establishes the Company as an early mover in the Australian cannabis industry. In addition, MediPharm Labs Australia is expected to provide the Company with a global supply chain platform and a foothold in the Asia-Pacific region.
“MediPharm Labs Australia’s cannabis manufacturing licence marks a significant achievement and important milestone that establishes MediPharm Labs as the largest Canadian extraction-only company with a clear path towards a global supply chain,” said Patrick McCutcheon, CEO, MediPharm Labs. “With this licence, MediPharm Labs Australia provides a foothold in the Asia-Pacific region as we focus on completing construction, and beginning the facility’s GMP certification and remaining licensing requirements which will permit us to commence production and sales later this year.”“After starting on this journey nearly two years ago, we are extremely pleased to have been awarded a Medicinal Cannabis Manufacturing Licence from the Office of Drug Control,” said Warren Everitt, Managing Director, MediPharm Labs Australia. “Construction on the facility is well underway and we are one step closer to becoming a leading producer of cannabis concentrates for Australia and the Asia-Pacific region.”The Licence authorizes MediPharm Labs Australia to the manufacture extracts and tinctures of cannabis and cannabis resin under the Narcotics Drugs Act 1967. Products manufactured under the Licence must be only for the purpose of a clinical trial or prescribed as medicinal cannabis products.MediPharm Labs Australia continues to work on completing the build of a state of art facility in Wonthaggi, Victoria (132 km south east of Melbourne), for industrial-scale production supported by leading infrastructure designed with ISO standard-built cleanrooms and critical environments, considering global GMP workflow. The facility will be outfitted with supercritical CO2 extraction capacity to process up to 75,000 kg of dried cannabis annually as well as state-of-the-art secondary processing equipment for the manufacture of purified and high-concentrate cannabis distillate. MediPharm Labs Australia will be permitted to commence production and sales activities upon receipt of its GMP and certain other local licences expected later this year.About MediPharm Labs Corp.Founded in 2015, MediPharm Labs has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation license. This expert focus on cannabis concentrates begins in its purpose-built laboratory designed to incorporate cGMP (current Good Manufacturing Practices) workflow and ISO standard-built clean rooms and critical environments, allowing MediPharm Labs to produce purified, pharmaceutical-like cannabis oil and concentrates for advanced derivative products. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream extraction methodologies and purpose-built facilities to deliver pure, safe and precisely-dosed cannabis products to patients and consumers. MediPharm Labs’ private label program is a high margin business for the company, whereby it opportunistically procures dry cannabis flower and trim from its numerous product supply partners, to produce cannabis oil concentrate products for resale globally on a private label basis.For further information, please contact:
Laura Lepore, VP, Investor Relations
Telephone: 705-719-7425 ext 216
Email: investors@medipharmlabs.com  
Website: www.medipharmlabs.com  
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, receiving a GMP and other applicable licences in Australia, and the timing thereof, completion of MediPharm Labs Australia’s facility, the establishment of operations in Australia and the expected processing capacity of the Australian facility. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals: and other factors discussed in MediPharm Lab’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Original story can be found at: http://www.globenewswire.com/news-release/2019/05/21/1840466/0/en/MediPharm-Labs-Australia-Awarded-Cannabis-Manufacturing-Licence-From-Office-of-Drug-Control-Establishes-Asia-Pacific-Foothold.html?f=22&fvtc=5&fvtv=41223728

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Freedom Leaf Inc. (FRLF) Announces Acquisition of Green Lotus Companies

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The Company will be hosting a shareholder call on Thursday, May 23 at 4:30pm (ET). See dial in instructions below:LAS VEGAS, NV, May 21, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Freedom Leaf Inc. (OTCQB: FRLF), a Nevada corporation, d/b/a Freedom Leaf Health, announced its entry into a definitive agreement to acquire ECS Labs LLC, including its two wholly-owned operating subsidiaries, which collectively constitute the “Green Lotus” premium hemp oil products brand. The acquisition is expected to generate a substantial increase in revenue for Freedom Leaf while providing Freedom Leaf access to a more robust portfolio of products, enhanced distribution capabilities and penetration in attractive emerging CBD markets worldwide. The purchase price for the transaction is $14mm of Freedom Leaf common stock to be issued at the closing of the acquisition valued based on the volume-weighted average trading price per share for the thirty trading days prior to the date of the closing of the acquisition. Green Lotus offers an eponymous line of CBD products including tinctures, soft gels, topicals, cartridges, gummies and pet tinctures and a newly introduced line of sparkling CBD beverages. In 2018, the Green Lotus companies generated unaudited gross revenue of $2.2mm with positive cash flow, and in the first quarter of 2019, the unaudited gross revenue of Green Lotus reached $1.4mm in the U.S.The acquisition is subject to customary closing conditions and is expected to close on or before May 27, 2019.  For additional details, please reference the Form 8-K to be filed with the U.S. Securities and Exchange Commission. Freedom Leaf was advised by Kleinberg, Kaplan, Wolff & Cohen, P.C. in connection with the transaction.KEY HIGHLIGHTS The acquisition will bring an expansion of talent and new leadership to Freedom Leaf.  Upon the closing of the acquisition, Carlos Frias, a Marine Corps veteran who founded Green Lotus in 2016, will assume the role of CEO of Freedom Leaf. The combination offers Freedom Leaf an established portfolio of hemp CBD products and greater access to multiple sales channels including traditional retail, independent pharmacies, ecommerce, and direct-to-consumer. The acquisition is expected to significantly increase and broaden Freedom Leaf’s current customer base. Green Lotus has an existing multi-year agreement with CBD Life SA De CV (“CBD Life”), one of only a limited number of legal entities to hold CBD importation and distribution licenses within the Country of Mexico.  First shipments to CBD Life under the agreement are expected to begin in the second half of 2019 for CBD Life’s distribution to approximately 4,000 outlets initially, with the potential to expand to approximately 40,000 outlets over the coming years.Expanding Freedom Leaf:Beyond the expected revenue accretion anticipated to result from the acquisition, the acquisition is expected to facilitate significant operating efficiencies and synergies beginning with the consolidation of Freedom Leaf’s existing operations into the cGMP certified manufacturing and lab facilities already operated by Green Lotus, as well as provide Freedom Leaf with access to Green Lotus’ owned biomass hemp inventory. The acquisition is expected to add significant management capabilities, including a 17-person sales team.  Daniel Nguyen, Green Lotus’ Chief Science Officer, will continue in this role after the closing of the acquisition and will oversee the cGMP certified manufacturing and lab facilities. Mr. Nguyen has a master’s degree in organic chemistry and extensive experience in nutraceuticals and cosmetics formulations.“I am incredibly excited for the opportunity to lead Freedom Leaf,” said Green Lotus founder and CEO Carlos Frias. “With the combined resources of Green Lotus and Freedom Leaf, we will be positioned to become one of the leading players in the Mexican market, and a leading hemp-based consumer packaged company in the U.S. and abroad.”“In acquiring Green Lotus, we will have added a highly talented management team, and I look forward to supporting Carlos Frias in his new role as CEO of Freedom Leaf,” noted Freedom Leaf CEO Clifford J Perry. “The acquisition should transform Freedom Leaf into a leading North American hemp CBD consumer products company serving multiple distribution channels across many verticals.”  David Goldburg, Chairman of the Board of Directors of Freedom Leaf (the “Board”) and a senior partner of Merida Capital Partners, noted, “The combination of Green Lotus and Freedom Leaf is another example of Merida’s ecosystem at work. We have watched Carlos and his team since the founding of Green Lotus, and they have built an impressive operation that is now uniquely positioned to be a leading player in combination with Freedom Leaf. We are excited to see the power of the companies’ reach and market penetration as CBD becomes a mainstream health and wellness product.”Effective at the closing of the acquisition, Richard Groberg and Richard Segerblom will resign from the Board, and Carlos Frias and Daniel Nguyen (two founding members of Green Lotus) will fill their vacancies on the Board.  Certain stockholders of Freedom Leaf will also enter into a voting agreement, effective at the closing of the acquisition, agreeing to vote their shares of capital stock in favor of a Board to be comprised of six members including two members appointed by Merida Capital Partners, two members from the Green Lotus members, and two members from the existing Freedom Leaf management team. Additionally, after the closing of the acquisition, Freedom Leaf’s preferred stockholders will grant the Company the right to cause the conversion of their preferred stock into Freedom Leaf common stock in accordance with Freedom Leaf’s articles of incorporation, which conversion is expected to occur no earlier than July 1, 2019 and will result in Freedom Leaf having one class of common stock outstanding with identical voting rights for each share.Given the tremendous market opportunity in the U.S. and Mexico as a result of the Green Lotus acquisition, Freedom Leaf expects to focus its management resources and capital on its hemp CBD consumer packaged goods line of products in these markets and to exit its greenhouse operations in Valencia, Spain.Shareholder Call:The Company will be hosting a shareholder call on Thursday, May 23 at 4:30pm (ET). Participants can access the call by dialing 866 342-8588 or 203 518-9865, using the passcode 52319. There will be a 30-day replay available, which can be accessed by dialing 844 488-7474 (toll free) or 862 902-0129 (toll), using passcode 52019104.Contact:Matt Bartlettmatt@freedomleaf.comAbout Freedom Leaf Health:Freedom Leaf Health is a clean healthcare company with a family of trusted brands that provide premium hemp-derived CBD products for greater health, wellness and longevity. IrieCBD is the company’s flagship brand of consumer health products offering full-spectrum hemp-derived CBD products in liquid, capsule and cream forms to support healthy levels of inflammation, immune system balance, mood and stress management, restful sleep, menstrual discomfort relief, energy boost and to act as a wellness supplement. The Company’s NatureBorn brand brings clean health to pets. Freedom Leaf Health is a fully reporting and audited publicly traded company trading under the symbol (OTCQB: FRLF).About Green Lotus Hemp:Green Lotus is a rapidly-growing Colorado-based premium hemp oil products brand. Founded by brothers Carlos and Alex Frias, Green Lotus manufactures and distributes premium cannabinoid products made from organic industrial hemp. Green Lotus has grown rapidly year-over-year since 2016, catapulted in part by the company’s proprietary formulas and its agile, vertically-integrated supply chain. Green Lotus is veteran-owned and powered by a young, diverse team of advocates dedicated to promoting a world where the healing power of hemp oil is accessible to all people. For more information, visit: www.GreenLotusHemp.com.  #LetsGrowTogetherSafe Harbor Statement: This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by phrases such as “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, changes in relationships with third parties, and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission.

Original story can be found at: http://www.globenewswire.com/news-release/2019/05/21/1833648/0/en/Freedom-Leaf-Inc-FRLF-Announces-Acquisition-of-Green-Lotus-Companies.html?f=22&fvtc=5&fvtv=41223728

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Tauriga Sciences Inc. Now Accepting Pre-Orders for its Blood Orange Flavored CBD Infused Chewing Gum

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New York, NY, May 21, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), a revenue generating Company that operates through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, today announced that it is now accepting pre-orders for its newest Tauri-Gum™ flavor – Blood Orange.  The Company developed its newest product formulation by incorporating ALL-NATURAL blood orange flavoring.  The Company expects to complete this production run of blood orange flavored Tauri-Gum™, before the end of this quarter (prior to June 30, 2019). In total, the Company is producing 875 retail boxes (8,750 blister packs) and has already paid for 1/2 of the total production cost.
The Company is pleased to report that it has already received multiple pre-orders from both existing customers as well as new ones.  Pursuant to accounting regulation ASC 606 (performance obligations), the Company shall not realize or recognize revenue until payment has been received and the corresponding product has been delivered to the customer(s).  In other news, the Company is working diligently on several important corporate initiatives (“initiatives”), aimed at both strengthening its brand equity and diversifying its revenue stream(s) – between now and the end of calendar year 2019.  These potential initiatives include, but are not limited to: production of a third Tauri-Gum™ flavor (All-Natural Pomegranate), development of a Vegan Acai flavored CBD Gummy, joint venture(s) for product development, expansion of presence to new geographic regions, creation of dedicated/unique point of sale displays, and possible Merger & Acquisition (“M & A”) activity.ABOUT TAURIGA SCIENCES INC.Tauriga Sciences, Inc. (TAUG) is a revenue generating Company that operates through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities. One such opportunity on which the Company has acted, involves the Company having entered into the cannabidiol (or “CBD”) infused chewing gum product business, as more fully described above and in prior press releases.  This CBD infused chewing gum product has been branded under the following name: Tauri-Gum™. See also our periodic reports filed by us with the SEC for a more complete description of our business and material agreements that we have entered into.  Further, the Company continues to identify and evaluate additional potential opportunities to generate revenue, as well as shareholder value, and leverage its resources and expertise to build a diversified and sustainable business model. Please visit our corporate website at www.tauriga.com.In addition, on March 11, 2019, the Company announced the official launch of its E-Commerce site – as part of its Tauri-Gum™ commercialization strategy.  This site can be accessed by visiting the following URL address:  www.taurigum.comForward-Looking Statements
This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s Form 10-K and other filings made from time to time with the Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. You should not place undue reliance on these forward-looking statements.CONTACT INFORMATIONE-Commerce Website:  www.taurigum.comAttachmentTauri-Gum

Original story can be found at: http://www.globenewswire.com/news-release/2019/05/21/1833601/0/en/Tauriga-Sciences-Inc-Now-Accepting-Pre-Orders-for-its-Blood-Orange-Flavored-CBD-Infused-Chewing-Gum.html?f=22&fvtc=5&fvtv=41223728

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