Cannabis Industry Continues Global Expansion from Israel to the EU; (CSE: $IPOT) (TSXV: $KHRN.V) (TSX: $AVCN.TO) (TSXV: $PCLO.V)
Point Roberts WA, Delta, BC - October 30, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering cannabis and hemp stocks releases a sector snapshot reporting on the continued international expansion of the cannabis industry and how it's leading to a global cannabis infrastructure.
A recent article reporting on the growth of the global cannabis industry notes, "Fully 185 countries are signatories to the United Nations' Single Convention on Narcotic Drugs of 1961, which prohibits cannabis as a drug that can be abused and cause ill effects, without bringing a substantial therapeutic advantage. Each signatory's laws must reflect the Convention; that is the case for the US' Controlled Substances Act of 1971. Countries that have legalized cannabis are flouting the convention, and some, such as Canada, admit that openly."
"Thanks to changing public perceptions, moves such as Canada's, ongoing research on health benefits and risks, and the urging of the World Health Organization-in 2019 it came out in favor of less restrictive control of cannabis and of removing prohibitions for pure CBD and CBD preparations containing no more than .2% THC-the United Nations has said it will revisit cannabis under the Single Convention. It should be noted, however, that amending the convention is difficult with so many members involved."
"Medical use of cannabis is and will be accepted around the world a lot more quickly than recreational use," says Mario Torres of Brazeau Seller Law (Ottawa, Ontario, Canada). "People are not enthused about prohibiting medical care. They don't want to disallow access to the only thing that may stop epileptic seizures in children or is part of a patient's treatment plan." Medical use is becoming more acceptable even in very conservative countries like South Korea and Thailand, which have legalized cannabis for medical purposes.
Recent news headlines look to Israel saying," Israel is at the forefront of cannabis tech. The country, which produces more pharmaceutical cannabis than just about anywhere else, is poised to become a leading exporter."
Recently listed on the CSE, Isracann Biosciences Inc. (CSE: IPOT) is an Israeli-based cannabis company focused on becoming a premier cannabis producer offering low-cost production targeting undersupplied, major European marketplaces. The Company (formerly Atlas Blockchain Group Inc.), recently provided an operative overview and update regarding facility development activities in Israel.
Concurrent to and as part of the Company's recent listing on the Canadian Securities Exchange it had satisfied the escrow release conditions for the net proceeds of its highly successful CAD$10.1 million financing efforts which bolstered an already healthy cash position.
This positions the company to immediately accelerate its planned Phase One Facility Design and Construction Services Program which consists of finalization of greenhouse facility design for cannabis cultivation and production in accordance with an existing technical specifications strategy; to rapidly advance greenhouse and related facility construction per the design; ensure adequate controls are in place against any diversion, theft and loss of cannabis products per regulatory standards; and ensure compliance with other protective security, health, and safety requirements in accordance with Israeli regulations.
To date, Isracann has entered into agreements for the development of medical cannabis cultivation projects with regional stakeholders holding preliminary breeding and cultivation licenses issued by the Israeli Ministry of Health. The regional stakeholder is required to renew these licenses each year and further bears the cost of electricity, property and related land taxes and are bound to working with Isracann to obtain the required licenses and to participate in the construction of the greenhouses.
Isracann's CEO, Darryl Jones notes, "We are very pleased to have achieved our very important initial milestone targets with the CSE listing of our ticker symbol "IPOT" and to confirm our accelerated investment plans in Israel are fully underway. We have lined up several key organizations and personnel and look forward to announcing a number of these key commercial agreements in the days and weeks ahead. We thank all our supporters for their belief in us, and in our belief that the Israeli agricultural sector will provide a huge leading role in positioning the Isracann brand as market leaders in the massive and underserved European cannabis marketplace."
In related news, the Company welcomes the recent appointment of Irit Arbel, Ph.D. to its Board of Directors. Dr. Arbel brings significant senior multidisciplinary biopharma and governance experience to Isracann's board. She serves as CEO, Co-Founder and Director of Neurocords Ltd., a company focused on developing new treatments for peripheral and spinal cord regeneration, and previously served as Director and President of Brainstorm Cell Therapeutics, and as Executive Vice President of Research and Development at Savicell Diagnostic, a biotechnology company. Dr. Arbel previously served as Chairperson of Real Aesthetics, a company specializing in cellulite ultrasound treatment, and BRH Medical, a developer of medical devices for wound healing. She was also Director of M&A at RFB Investment House, a private investment firm focusing on early-stage technology-related companies. Previously, Dr. Arbel was President and Chief Executive Officer of Pluristem Life Systems, a biotechnology company, and prior to that as Israeli Sales Manager of Merck, Sharp & Dohme, a pharmaceutical company. Dr. Arbel earned her Ph.D. in 1997 in Neurobiology, after performing research in the area of MS. Dr. Arbel also holds a Chemical Engineering degree from the Technion, Israel's Institute of Technology.
Avicanna Inc.(TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical company focused on the development, manufacturing and commercialization of cannabinoid-based products, recently announced that Santa Marta Golden Hemp S.A.S., its majority owned subsidiary, has completed commercial exports of its Aureus™ brand of CBD-based products to South Africa and the United Kingdom.
The Aureus brand of products include an organic and sustainable line of plant-derived active pharmaceutical ingredients ("APIs") and bulk CBD formulations developed by Avicanna in collaboration with SMGH and Sativa Nativa S.A.S. ("Sativa Nativa"), which is also a majority owned subsidiary of Avicanna. These initial sales included the export of CBD isolate and 4% bulk formulation for CBD oil sublingual sprays. Each of the above exports has been completed in accordance with all applicable laws in the Jurisdictions.
Aras Azadian, Avicanna's Chief Executive Officer, stated "We are excited to bring the Aureus brand of cannabinoid APIs to our international customers. We believe these initial sales further validate the brand's opportunities in these two countries, as well as the potential for us to actively market our APIs across the globe to manufacturers of CBD products. We believe the Aureus brand of API products will become a leader in organic and sustainable cannabinoid raw materials and the gold standard with respect to global quality controls, which we believe are necessary for the evolution of a worldwide cannabinoid industry."
Avicanna is also looking into the Latin American market having announced the retail launch of its Pura Earth™ derma-cosmetics line of CBD products, which are now available at approximately 59 high-end retail locations throughout Colombia, including Blind Prestige beauty shops and Cromantic professional beauty markets.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTC: KHRNF), a vertically integrated cannabis leader with core operations in Latin America, recently announced their entrance into the EU market having completed the EU cosmetic regulatory process for seven Kuida products, and received a "no objection" letter from TSXV with respect to distribution of these products in the UK.
Tejinder Virk, President, Khiron Europe, commented, "The fulfillment of EU cosmetic regulatory requirements allows the Company to bring our proven product line into the sophisticated and growing European skincare market, where we expect to rapidly build and grow Kuida's market share. We will initially focus on import and marketing in UK, with our first sales expected in Q1 2020, before expanding to Spain, Germany and the broader European market, subject to the specific requirements of individual member states and TSXV approval."
Kuida®, the first consumer brand of Khiron's wellness business unit, brings the benefits of cannabidiol (CBD) to a comprehensive portfolio of skin and body care products for women. Kuida was launched in Colombia in October 2018 through retail, wholesale and online channels and is now available nationwide and through e-commerce channels. As the Company expands Kuida® distribution in Europe, the brand will be a featured exhibitor at Cosmoprof Worldwide Bologna 2020, which attracted over 265,000 visitors in 2019 and is the largest such event to learn more about market leading products and to place orders.
The company also participated in the Open Parliament held by Senate of Mexico on the theme of "Towards Cannabis Regulation," which took place through August 2019 and September 2019. As a Latin American cannabis leader with a strong presence in Mexico, Khiron joined both open forum sessions and a committee of experts to engage in dialogue and provide input on the building blocks of the country's new regulatory framework.
PharmaCielo Ltd. (TSXV:PCLO) (OTC: PHCEF), whose anticipated acquisition of Australian Securities Exchange ("ASX") listed Creso Pharma will establish a global medicinal cannabis company positioned to rapidly develop new markets and grow sales in the expanded footprint served by the combined company, recently announced key developments in respect of its acquisition originally announced on June 6, 2019. Creso Pharma has informed the Company that it has received approval from the Supreme Court of Western Australia to convene meetings of its shareholders and listed option holders, and if thought fit, to approve the Schemes of Arrangement whereby PharmaCielo would acquire all of the issued and outstanding shares and listed options of Creso Pharma. The Meetings will be held on November 11, 2019, beginning at 10:00AM (Perth time).
The Board of Directors of Creso Pharma continue to unanimously recommend that Creso Pharma Shareholders and the Creso Pharma Optionholders vote in favour of the proposed Schemes of Arrangement, in the absence of a superior proposal for Creso Pharma.
David Attard, CEO of PharmaCielo commented, "PharmaCielo's acquisition of Creso Pharma, creates a combined company that has operational excellence across the value chain. The quality and scale of PharmaCielo's cultivation and extraction compliments Creso Pharma's product development and extensive developed global sales channels. With the Creso Pharma acquisition and our recently announced agreement to export CBD into the United States , 2020 is going to be an exciting year for PharmaCielo shareholders."
PharmaCielo expects that the combined company will be well-positioned to drive significant value for both existing PharmaCielo and Creso Pharma shareholders.
PharmaCielo has received conditional approval from the TSX Venture Exchange for the issuance of common shares of PharmaCielo to Creso Pharma Shareholders and Creso Pharma Optionholders in order to effect the Schemes of Arrangement. The effective date of the Schemes of Arrangement is expected to be November 13, 2019; and the closing date of the acquisition is expected to be November 22, 2019.
With the growing international acceptance of the cannabis industry, companies with strongly established infrastructure in key global trade areas will become more of an essential asset as the industry moves further towards global standards and sales.
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