Connect with us

Industry News

Village Farms Enters Commercial-Scale Production and Outlines Ambitious 2018 Plans — CFN Media

Avatar

Published

on

default_cannabis_industry_cannamaps

SEATTLE, May 22, 2018 (GLOBE NEWSWIRE) — CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering Village Farms International Inc. (TSX:VFF) (OTCQX:VFFIF) joint venture with Emerald Health Therapeutics Inc. (TSX-V:EMH) (OTCQX:EMHTF) called Pure Sunfarms. Village Farms, which has been publicly traded for more than ten years on the TSX, is already generating about CAD$200 million in annual revenue as a large-scale, low-cost greenhouse grower — from its decades old fresh produce business. By leaning on this experience, the vertically-integrated company is now cultivating high-quality cannabis through Pure Sunfarms, which has the potential to produce up to 300,000 kilograms of dried cannabis per year if it converts all of its existing Delta, BC-based 4.8 million sq. ft. of greenhouse space to cannabis production.

Canada’s cannabis industry is projected to generate C$12 billion in gross sales by 2025, according to recent equity research by Cowen, driven by the legalization of adult-use cannabis nationwide as early as this summer. While there are many licensed producers that have been approved by Health Canada, few have the existing infrastructure and expertise needed to truly scale into the market as their operations are very young.  Many will face growing pains.

Cannabis to “Transform” an Experienced Growing Operation

Many Canadian licensed producers’ facilities are either in development or the early stages of production. Most are burning through significant capital each quarter ramping up operations. A problem with this approach is that it’s difficult to scale up to an industrial size agricultural operation, with issues ranging from diseases that could wipe out an entire harvest, or severely impact the quality of a harvest, to finding sufficient personnel in a tight labor market.

Village Farms is unique in the Canadian cannabis landscape in that it already has fully scaled-up greenhouse operations that have been growing premium quality produce — and selling it to North America’s leading grocers — for decades. Last quarter, the company reported revenue of $29.5 million and $1.8 million in EBITDA from this business. With well-seasoned personnel and proven practices in place, the company is in prime position to enter the cannabis industry at scale and drive value through production of a considerably more profitable crop.

Village Farms’ CEO Michael DeGiglio calls cannabis production “truly transformational”. The company projects Pure Sunfarms will multiply revenue per square foot of growing capacity 10 to 15 times by switching from produce to cannabis. EBITDA margins should leap up from mid-single digits currently to 50% or more with cannabis. The company asserts these are conservative numbers, as are its production estimates. Its long-term revenue model is based on a cannabis flower sale price of $2/gram, which is currently well below market but reflects the strong belief by the company, as well as many experts, that cannabis flower will commoditize over the coming years.

Starting Commercial-Scale Production

On May 14 Pure Sunfarms received an amendment to its cultivation license that enables it to begin commercial growing at scale. Village Farms plans to incrementally increase production throughout the year. The Delta 3 greenhouse covers 1.1 million square feet in total. Pending further expected amendments to its cultivation license, the company anticipates 250,000 sf to be planted by the end of July, another 250,000 sq. ft. to be in production in September, and the entire 1.1 million sq. ft. in production by the end of the year.

“The start of commercial-scale cannabis production at the Delta 3 facility is the most significant milestone for Pure Sunfarms to date,” said Village Farms CEO Michael DeGiglio. “We are thrilled to definitively move forward with the accelerated production plan, which significantly increases Pure Sunfarms conservative production targets to as much as 60,000 kilograms or more of dried cannabis through the end of 2019.”

Pure Sunfarms expects to be cultivating at full production of 75,000 kilograms per year at the Delta 3 facility in 2020.

Selling Into the Demand

Demand for cannabis product is ramping up quickly ahead of its coming legalization for adult use in Canada.  Pure Sunfarms recently signed its first supply agreement — Emerald Health agreed to purchase 40 percent of Pure Sunfarm’s production in 2018 and 2019, or approximately 21,000 to 24,000 kilograms, based on current production targets. The company is also in discussions with numerous parties, including governments and other licensed producers, for additional supply agreements.

Village Farms’ Pure Sunfarms joint venture is in the process of applying for its sales license, recently having completed its initial cannabis harvest at the Delta 3 greenhouse. A portion of this harvest has been submitted for testing under Health Canada’s sales licensing process. This is a typical progression for licensed dealers: start with a small grow to get the initial license, amend it to cover more production space, submit product for inspection and sales license approval. Pure Sunfarms is on track.

“Pure Sunfarms’ first supply agreement provides a strong initial revenue stream, while allowing the flexibility to pursue opportunities with government purchasers, as well as the significant near-term demand we are seeing from other licensed producers,” added Mr. DeGiglio. “With the advantage of Village Farms’ decades of experience designing, building, and operating large-scale greenhouse facilities, I am more than confident in Pure Sunfarms’ ability to steadily ramp up production in the 17 grow rooms within the 1.1 million square foot Delta 3 facility.”

Looking Ahead

Village Farms International Inc. (TSX:VFF) (OTCQX:VFFIF), through its Pure Sunfarms joint venture, represents a compelling investment opportunity within Canada’s burgeoning cannabis industry. With as much as 60,000 kilograms or more of dried cannabis production for sale through next year, and 75,000 kg/year at full production shortly thereafter, the joint venture Pure Sunfarms has the potential to become one of the leading players in the licensed producer space almost overnight. Should the company choose to convert the remaining 3.7 million square feet of existing greenhouses at the joint venture’s disposal, those numbers would obviously multiply. Investors may want to take note as production ramps up over the coming quarters.

Please follow the link to read the full article: http://www.cannabisfn.com/village-farms-enters-commercial-scale-production-outlines-ambitious-2018-plans/

For more information, visit the company’s website or download their investor presentation.

About CFN Media

CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in the US and Canada have relied on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

CFN Media
Frank Lane
206-369-7050
flane@cannabisfn.com

Original story can be found at: http://globenewswire.com/news-release/2018/05/22/1510115/0/en/Village-Farms-Enters-Commercial-Scale-Production-and-Outlines-Ambitious-2018-Plans-CFN-Media.html?f=22&fvtc=5&fvtv=41223728

Continue Reading

Industry News

CV Sciences, Inc. Expands Operations with New Production and Warehousing Facility to Support Worldwide Growth Opportunities

Avatar

Published

on

default_cannabis_industry_cannamaps

Facility Expansion Increases Hemp CBD Oil Production and Warehousing/Fulfillment Capacity by More Than 500 Percent
SAN DIEGO, July 16, 2019 (GLOBE NEWSWIRE) — CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products through its industry-dominating brand, PlusCBD™ Oil, today announced the expansion of its operations with a new production and warehouse facility.The 45,500 square foot facility will expand the Company’s capacity for hemp CBD oil production, warehousing and fulfillment by more than 500 percent to meet growing retailer and consumer demand for PlusCBD™ Oil products.  The facility, located in San Diego, is expected to be operational in the fourth quarter of 2019 and will support CV Sciences’ U.S. and international expansion opportunities.“Our recently announced U.S. hemp sourcing initiative combined with this facility and capacity expansion positions CV Sciences for continued rapid domestic growth, while ensuring we are well-positioned to capitalize on the international opportunities we are currently exploring,” said Joseph Dowling, Chief Executive Officer.  “The distribution of PlusCBD™ Oil products into national retailers in the Food, Drug and Mass (FDM) channel is growing significantly, yet we are still in the early stages of growth. Despite more than doubling the number of stores carrying our industry leading products to 4,591 stores in the first six months of this year, we see a significant runway for additional growth, including increasing our domestic and international store count, as well as broadening product SKUs with our retail partners.”On July 10, 2019, CV Sciences announced the commencement of its domestic hemp sourcing initiative, including a commitment to more than 500 acres of U.S.-based hemp production for 2019.  This new supply of U.S. produced hemp-based CBD will be extracted through CV Sciences’ domestic supply chain partners and refined at the Company’s San Diego production facilities, broadening the Company’s global supply chain and raw material supply while reducing transportation and logistics costs.Dowling continued, “CV Sciences is the first hemp CBD company to achieve self-affirmed Generally Recognized as Safe (GRAS) status in accordance with stringent U.S. Food and Drug Administration safety guidelines.  Our relentless commitment to regulatory leadership as well as product safety, quality and efficacy through scientific evidence has established confidence and trust with retailers and consumers.  Expanding our GRAS raw material supply capability builds on our strong foundation to make PlusCBD™ Oil products available to more consumers around the globe.”About CV Sciences, Inc.CV Sciences, Inc. (OTCQB:CVSI) operates two distinct business segments: a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors; and a drug development division focused on developing and commercializing novel therapeutics utilizing CBD. The Company’s PlusCBD™ Oil is the top-selling brand of hemp-based CBD on the market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. CV Sciences, Inc. has primary offices and facilities in San Diego, California.  Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.FORWARD-LOOKING DISCLAIMERThis press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.CONTACT INFORMATION:Investor Contact:
ICR
Scott Van Winkle
617-956-6736
scott.vanwinkle@icrinc.com
Media Contact:
ICR
Cory Ziskind
646-277-1232
cory.ziskind@icrinc.com

Original story can be found at: http://www.globenewswire.com/news-release/2019/07/16/1883333/0/en/CV-Sciences-Inc-Expands-Operations-with-New-Production-and-Warehousing-Facility-to-Support-Worldwide-Growth-Opportunities.html?f=22&fvtc=5&fvtv=41223728

Continue Reading

Industry News

MustGrow Biologics Corp. Featured in Exclusive NetworkNewsWire Broadcast

Avatar

Published

on

default_cannabis_industry_cannamaps

NEW YORK, July 16, 2019 (GLOBE NEWSWIRE) — via NetworkNewsAudio – MustGrow Biologics Corp. (CSE: MGRO), an agricultural biotech company developing and commercializing a portfolio of natural biopesticides and bio-fertilizers, today announces the broadcast of its exclusive audio interview with NetworkNewsAudio (NNA), a NetworkNewsWire (NNW) solution that delivers clients unparalleled visibility, recognition and brand awareness in the investment community.
The interview can be heard at http://nnw.fm/WDud1.MustGrow president and CEO Corey Giasson joins NNW host Stuart Smith in a discussion about the company’s novel, proprietary technology that utilizes organic components refined from the mustard seed to provide high-quality organic solutions for growers facing soil borne diseases and pests such as nematodes in their greenhouses and fields.“We’re an agriculture biologics company that has an innovative technology which uses the mustard seed,” Giasson explains. “We take the mustard seed and extract the natural compounds from that mustard seed, concentrate them, and with them they can be used as a natural bio-fumigate or biopesticide in the food and vegetable industry as well as potentially in the cannabis industry.”Nematodes, or microscopic worms, are the most numerous multicellular animals on earth. A handful of soil will contain thousands of nematodes, many of which are parasites of insects, plants or animals. Most plant-parasitic nematodes feed on the roots of plants, damaging the root system and reducing the plant’s ability to absorb water and nutrients.MustGrow’s technologies provide nematode control that is equal and often superior to synthetic alternatives, resulting in elevated yields and increased returns for the grower. The global economic impact of soil-borne nematodes is estimated at nearly $100 billion in lost crops per year. The company’s initial product was produced in granular form and sold to growers in the fruit and vegetable space, specifically to strawberry growers, Giasson says.“Our second-generation technology is in liquid form and is more concentrated,” he adds. “We are looking forward to getting the regulatory approval to start selling that into the market.”MustGrow’s potential application for cannabis production shows that when its product is used as a pre-plant/pot soil treatment, it may significantly help control many soil-borne diseases, pathogens and pests, including nematodes, fusarium, rhizoctonia, and botrytis (gray mold) that affect the cannabis plant. Giasson notes that “a lot of the funguses that affect the strawberry plant also affect the cannabis plant.”The company’s management team and advisory board is stacked with experts in the agriculture biotech industry and vertical biologics, along with renowned experts in the cannabis space such as Tom Flow, founder of The Flowr Corporation. MustGrow recently announced closing of a non-brokered $1.2 million private placement with those funds already dedicated to developing and commercializing its patented technology, finalizing formulations and conducting field tests on cannabis crops.MustGrow’s biopesticide has U.S. EPA (Environmental Protection Agency) and Canadian PMRA (Pest Management Regulatory Agency) labels as an approved organic solution and is seeking approval to add cannabis as an accepted use.About MustGrowMustGrow is an agricultural biotech company focused on developing and commercializing a portfolio of patented natural bio-pesticides and bio-fertilizers, including its patented signature mustard-derived biologics. Targeting the fruit and vegetable and the cannabis industries, MustGrow has designed a U.S. EPA and Canadian PMRA approved organic solution that uses the mustard seed’s natural defense mechanisms to protect plants from pests and diseases.To learn more, please contact the Company at 1 (306) 717-1128 or visit: www.mustgrow.caAbout NetworkNewsAudioNetworkNewsAudio (NNA) , a NetworkNewsWire (NNW) Solution, allows you to sit back and listen to market updates, CEO interviews and a Company AudioPressRelease (APR). These audio clips provide snapshots of position, opportunity and momentum. NetworkNewsAudio (NNA) can assist your company by cutting through the overload of information in today’s market, NNA brings its clients unparalleled visibility, recognition and brand awareness. NetworkNewsWire (NNW) is where news, content and information converge. NetworkNewsWire (NNW) is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of more than 5,000 key syndication outlets across the nation.For more information, visit: www.NetworkNewsAudio.comPlease see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer.Forward-Looking StatementsThis 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.Corporate Communications:NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com 
212.418.1217 Office 
Editor@NetworkWire.com 

Original story can be found at: http://www.globenewswire.com/news-release/2019/07/16/1883316/0/en/MustGrow-Biologics-Corp-Featured-in-Exclusive-NetworkNewsWire-Broadcast.html?f=22&fvtc=5&fvtv=41223728

Continue Reading

Industry News

CBD Life Sciences Files Initial Reg A+ Offering Statement

Avatar

Published

on

default_cannabis_industry_cannamaps

SCOTTSDALE, AZ, July 16, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — CBD Life Sciences Inc. (OTC: CBDL) is pleased to announce that it has filed an offering statement with the United States Securities Exchange Commission (SEC) to raise $10 million under a Regulation A+ securities offering. The net proceeds of this offering will be used to advance the CBD based product lines of its wholly owned subsidiary, LBC Bioscience and to establish a lab for research and development. By utilizing Regulation A+, CBD Life Sciences Inc. will make its securities available to investors who may not otherwise be able purchase nor qualify as accredited. The offering is being prices at $0.10 per share with a minimum allotment $1,000.    
“We are very excited to be moving forward with our Reg A+ offering,” stated Lisa Nelson, President & CEO of CBD Life Science. “We priced the Reg A+ at a premium as we are confident that the current market price does not accurately reflect the true valuation of our company nor the potential that comes with this additional capital,” continued Ms. Nelson. About CBD Life Sciences Inc.CBD Life Sciences Inc. is a publicly traded company having its common shares quoted on the OTC Markets under the symbol ‘CBDL’. The Company’s main focus is to identify, evaluate and acquire undervalued opportunities with the objective of increasing shareholder value. The acquisition of LBC Bioscience Inc. is the first in the CBD space and the company is actively searching for additional opportunities within this emerging sector.About LBC Bioscience Inc.  LBC Bioscience Inc. is a wholly owned subsidiary of CBD Life Sciences Inc. LBC has developed and is retailing/wholesaling  a full line of cannabidiol based organic products including hemp drops, massage oils, pain relief creams, anxiety and sleep  supplements, CDB edibles, anti-aging skin solutions and a full line of CBD infused supplements for your pets. LBC’s products can be viewed and purchased on the company’s website at www.lbcbioscienceinc.com.Contact InformationInvestor RelationsTen Associates LLC11529 N. 120th St.Scottsdale, Arizona85259 USATelephone: 480-326-8577Thomas E. NelsonEmail: tenassociates33@gmail.comForward-Looking StatementsExcept for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Optium Cyber Systems, Inc.’s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.Safe Harbor StatementThis release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Original story can be found at: http://www.globenewswire.com/news-release/2019/07/16/1883256/0/en/CBD-Life-Sciences-Files-Initial-Reg-A-Offering-Statement.html?f=22&fvtc=5&fvtv=41223728

Continue Reading

Trending