fbpx
Connect with us

BUSINESS

Argitek Holdings Inc (OTCMKTS:AGTK) Receives Approval For San Juan, Puerto Rico Facility; Opens Wellness Resort In Quebec

Published

on

Argitek Holdings Inc (OTCMKTS:AGTK) recently received final permit approval for its cultivation and processing facility in Puerto Rico’s San Juan. As per the announcement, the final permit approval for the 15,000 sq.ft. facility will now allow the provisional licensee of the company to carry manufacturing and cultivation to be presented for final inspections by the Department of Health. The inspections are expected to take place any time this month.

San Juan facility is in exclusive agreement with AGTK

The San Juan-based facility currently has an exclusive multi-year financing, licensing, and operations agreement with AGTK. As per the new regulations within the Caribbean island, the facility’s primary focus will be to process flower of other operations for oils on the Island without putting any financial burden for major growth of operations. It is San Juan’s first planned vertically integrated operation that will provide cultivation, processing, and retail after the process of final inspection is complete.

This agreement is extremely important for Agritek as Puerto Rico is one island that allows patients from all the states in the country having a medical card to buy cannabis-based products in the region. The tourism trade on the island is booming due to which the demand for such products has also increased in the past few years. Puerto Rico is known for offering cannabis-based products at a low rate as compared to the largest markets of California and Colorado in America.

Agritek’s Quebec-based resort gets approval

The company actively involved in cannabis sector and also operating as a consultant for many marijuana brands has stated that it has received licenses as well as approvals for its Quebec-based “420 Style” resort and vacation bed and breakfast property. The 15-acre estate is located just one hour’s drive from Canada’s Quebec City. The property will cater to the wellness lifestyle and blend the hospitality as well as the deregulation of cannabis within the country. It consists of 9 unique guests’ suites, private chef, spa services, and horse stables.

Incidentally, golf lovers will love the place as the estate is located at a walking distance from Quebec’s most scenic golf courses. The company is an exclusive owner of all the operations at the wellness property and will receive 100% revenue expected from bookings as well as the sale of wellness products.

Continue Reading
Advertisement

BUSINESS

Wanderport Corp. (OTCMKTS:WDRP) Targets The Skincare Market With Its CBD-based Hempova Skincare Products

Published

on

Wanderport Corp. (OTCMKTS:WDRP) has announced the launch of its CBD-infused Hempova skincare facial serums through which it plans to tap into the skincare market.

This is an interesting step for the company considering that it previously dabbled mainly in the food and beverage industry with products infused with CBD derived from hemp. However, the company is now leveraging its manufacturing prowess and CBD knowledge to expand into the skincare market with the CBD-infused Hempova skincare line.

“Growth in the global skincare industry in general and in the anti-aging segment, in particular, has been staggering and we are excited to introduce our line of CBD serums,” stated Wanderport’s interim CEO, Liliana Vo.

The CEO also noted that her company also wants to introduce new products in the future as part of its campaign for people to adopt a healthy lifestyle. The company will announce the additional pipeline products in the future. For now, the launch of the Hempova skincare facial serums will allow the company to assess the market and see how things go.

The Hempova skincare product line consists of Collagen Cream, Eye Serum, and Anti-aging Face and Neck Cream for Men. All of the above products are developed using high-quality ingredients such as CBD, collagen and Hyaluronic Acid. These ingredients are supposed to help rehydrate the skin and at the same time helping the skin to appear youthful.

Wanderport cannot afford to ignore the lucrative skincare market

Wanderport has also entered the skincare market at an opportune time when the demand is shifting. Skincare products were in the past mostly purchased by older consumers but now there is a wave of younger consumers that are adopting the trend.

One particular segment of the skin care category that has seen significant growth in the anti-aging skin care segment. The segment was valued at $250 billion globally in 2016 and analysts estimate that it will be worth $331 billion by 2021.

Wanderport does not intent on being left behind by the anti-aging product wave. It has its Hempova anti-aging skincare product line that will allow it to secure a piece of the pie. The product line will target spas, wellness centers, and boutiques.

Continue Reading

BUSINESS

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Stakeholders Give Go-ahead For Business Combination With Verano Holdings LLC

Published

on

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) announced a few days ago that its shareholders together with those of Verano Holdings LLC approved a business combination between the two firms.

The idea of a Business Combination Agreement between the two companies was introduced in April this year. Once the agreement is in motion, Verano and Harvest Health shareholders will get to own stake in the merger which will handle the business operations of both firms.

An overwhelming number of Harvest Health investors voted in favor of the merger and the same case for Verano investors who unanimously agreed that it was the best way forward. The voting took place during a special meeting that was held towards the end of June.

Harvest shareholders and Verano shareholders will exchange their ownership stake on a 1:1 basis as part of the agreement. This means that Verano shareholders will receive Harvest Health shares while Harvest shares will receive Verano shares.

Harvest Health buys out Leaf Life dispensary

More recently, Harvest Health announced that it acquired Leaf Life, the only medical cannabis dispensary that is licensed in Casa Grande, Arizona. The strategic acquisition adds to the company’s growing portfolio of acquisitions in Arizona. It previously acquired a company called Devine Hunter, Inc., and that gave it access to six licenses.

Harvest Health’s acquisition of Leaf Life means the company can now operate in about 18 facilities and dispensaries that are based in Arizona.

“Arizona is the third largest medicinal cannabis market in the United States, yet too many in our communities still do not have adequate access to dispensaries that offer the high-quality medicinal products,” stated Harvest Health’s Executive Chairman Jason Vedadi.

Harvest Health therefore targets Arizona as one of the underserved markets where it can potentially secure a strong footing. Ricky Hendrickson, the vice president of Leaf Life pointed out that his firm agreed to a buyout by Harvest because the company seems committed to achieving success in Arizona. He also revealed that the two businesses agreed to a 2-year stock option lockup. Leaf Life will now become part of Harvest Health following the transaction.

Continue Reading

BUSINESS

Crop Infrastructure Corp (OTCMKTS:CRXPF) Announces Definitive Agreement For World Farms Corp To Go Public

Published

on

Crop Infrastructure Corp (OTCMKTS:CRXPF) announced towards the end of June that World Farms Corp, its investment holdings secured a definitive deal with Graphite Energy Corp to go public.

The deal will facilitate a reverse takeover and World Farms Corp will go public through the Canadian Securities Exchange. Crop Infrastructure currently owns a sizable stake in 10 World Farms Corp at 10 million shares. Crop divested its stake in Jamaican and Italian joint ventures in February so that it could purchase the 10 million World Farms Corp’s common shares at $0.20 per share.

“By divesting our Italian and Jamaican assets to World Farms, it has allowed CROP to focus and expand its operations in the USA, as well as gain a major investment,” stated Crop Investment Holding CEO Michael Yorke.

The CEO also noted that the reverse takeover will go on as planned and that it was pending regulatory greenlight by the CSE. Yorke also noted that World Farms already has 100,000 cannabis plants in cultivation, and it plans to grow an extra 500,000 plants in Croatia over the next few weeks.

Crop Infrastructure acquires license for its Emerald Heights brand in California

Crop Infrastructure also announced in June that its brand Emerald Heights was awarded a provisional license that will allow it to run retail operations, a smoking lounge and delivery services in Cathedral City. The company also hired a local real-estate broker to secure an ideal location for the company’s new location for Emerald Heights in California.

The company also revealed that it already paid a US$30,000 down payment on the new location in Cathedral City. The Emerald Heights brand will handle deliveries in key routes within Coachella Valley and the Bay Area. The brand is also looking for a partner that will assist with distribution in Southern California.

Crop Infrastructure also revealed that its extraction partner in California has already carried out the extraction process on the first harvest batch from 2018. The THC distillate oil extracted from the 2018 harvest will be incorporated into 30,000 vape cartridges. Some of the extract will also be used in pre-rolled joints and also to build up inventory.

Continue Reading
Advertisement
Advertisement
Advertisement






Trending Stories