Investor Ideas #Potcasts; #Cannabis News and Stocks on the Move; TSXV: $XLY.V, CSE: $SNN.C, OTCQB: $KSHB, Senate approves legislation in #Canada
Pt. Roberts, WA; Delta, BC - June 8, 2018 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its "potcast" site, www.potcasts.ca release today's edition of its series, Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast: Investor Ideas #Potcasts; #Cannabis News and Stocks on the Move; TSXV:XLY, CSE: SNN, OTCQB: KSHB, Senate approves legislation in Canada
Investor Ideas #Potcasts; #Cannabis News and Stocks on the Move; TSXV:XLY, CSE:SNN, OTCQB:KSHB, Senate approves legislation in Canada
Today's podcast overview/transcript:
Good afternoon and welcome to another Investorideas.com potcast - looking at cannabis news, stocks to watch as well as insights from thought leaders and experts. Today we are looking at announcements from Auxly Cannabis Group Inc. (TSX V: XLY) , Sunniva Inc. (CSE: SNN and OTCQX: SNNVF ) and KUSH BOTTLES, INC. (OTCQB: KSHB)
First however, Canada moved another step closer to ending its prohibition of marijuana yesterday when the Senate approved legislation to legalize and regulate marijuana for adult use. Bill C-45 will now head back to the House of Commons, which has already approved a previous version.
Once approved in the House, Prime Minister Justin Trudeau's government is expected to move quickly to implement the legislation, with legal adult sales beginning as soon as August.
Canada will be just the second country - and the first G7 nation - to legalize marijuana for adults at the national level. The first was Uruguay, where legislation was signed into law in December 2013 and a limited number of pharmacies began selling marijuana to adults in July 2017.
The Canadian legislation creates an overarching national regulatory framework and enables each province to establish its own system of licensing and regulating marijuana businesses. Adults will be allowed to possess up to 30 grams of marijuana, and all products will be sold in plain packaging with clearly marked labels. Home cultivation is allowed at the federal level, but it can be banned at the provincial level.
Auxly Cannabis Group Inc. announced that it has changed its corporate name from "Cannabis Wheaton Income Corp." to "Auxly Cannabis Group Inc." effective today.
Effective at the market opening today, the common shares of the Company commenced trading on the TSX Venture Exchange under the Company's new name and under the trading symbol "XLY".
Sunniva Inc., a North American provider of cannabis products and services, announced today that its wholly-owned subsidiary CP Logistics, LLC (the "Sun-Oil Facility") has secured an extraction contract with Farmacy Phactory, a leading California cannabis brand. Under the terms of the agreements, the Sun-Oil Facility will provide them with high quality, ultra-purified manufactured distilled oil products including specialized flavored distilled oil formulations to be utilized within vaporization cartridges. The agreement is for a 12-month term that may be renewed for an additional 12 months at the request of Farmacy Phactory at the expiry of the initial term. Sunniva, via ownership of its wholly-owned subsidiary Full-Scale Distributors, LLC, and through its brand, Vapor Connoisseur, will also provide them with specialized vaporization hardware and accessories.
Farmacy Phactory's expertise is growing exotic strains high in terpenes exclusively for extracts. This strategic relationship with Sunniva allows both companies to showcase their expertise to provide high-end cannabis extract products.
KUSH BOTTLES, INC., a leading provider of packaging, supplies, vaporizers, hydrocarbon gases, solvents, accessories and branding solutions for the regulated cannabis industry, today announced it has entered into definitive agreements with investors for the purchase and sale of (i) 7,500,000 shares of common stock, par value $0.001 per share, and (ii) warrants to purchase up to 3,750,000 shares of common stock at an combined offering price of $4.80 per share, pursuant to a registered direct offering. The gross proceeds of the offering will be approximately $36,000,000 before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds for general corporate purposes, including, among other things, working capital, product development, acquisitions, capital expenditures, and other business opportunities. The closing of the registered direct offering is expected to take place on or about June 12, 2018, subject to the satisfaction of customary closing conditions.
Alliance Global Partners is acting as sole placement agent for the offering
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