Connect with us

BUSINESS

AusCann Group Holdings Ltd Reports a $13.7 Net Cash in Q2 F21

Published

on

AusCann Group Holdings recently announced its progress in Q2 F21. The company remains well-funded with a 13.7 million cash flow in Q2 F21. Operating expenses came to about $1.6 million, inclusive of $930,000 associated with R&D costs linked to the company’s core programs. AusCann managed to reduce corporate and administration costs by around 49% significantly. This was because of the synergies after the CannPal and AusCann merger, which included significant reductions in operational efficiencies, statutory expenses, shared resources, and so on. 

AusCann’s strong capital position and revised company structure will allow the business to continue growing significantly. These two things will help ensure that the core revenue-generating programs get more resources. 

Key Operational Updates 

AusCann was happy to update key clinical veterinary results for its Pilot Phase 2A Clinical Study (CPAT-01), which supported the effective and safe use of the experimental drug for quality of life, lameness, and pain in dogs suffering from osteoarthritis. The CPAT-01 product is an experimental, standardized pharma drug that contains natural THC and CBD extracts. This product is in the development stage for CVM/FDA approval as an effective and safe veterinary drug for inflammation and pain in dogs.  

FDA/CVM established the INAD (Investigational New Animal Drug) unit for the CPAT-01 product following the scientific rationale summary submitted to the agency, which contained information from a solid Phase 1, Pre-Clinical research program. CPAT-01’s positive indicators were mood-based, inflammation, and improving pain results. 

AusCann is to provide the agency with a formal request to get a pre-submission conference (PSC). During Q2 F21, AusCann submitted its PAA request to propose regulatory submission plans. During this quarter, AusCann also appointed a new global marketing manager. This manager will lead DermaCann’s commercialization efforts.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

BUSINESS

AXIM Biotechnologies Inc (OTCMKTS: AXIM) Announces Appointment of New Chief Medical Officer

Published

on

AXIM Biotechnologies Inc (OTCMKTS: AXIM) has announced the hiring of Joseph Tauber as the Chairman of the Medical Advisory Board and its chief medical officer.

Dr. Tauber has vast experience as an ophthalmologist

Dr Taube, an ophthalmologist, is recognized internationally as an expert on ocular surface diseases like meibomitis and dry eye. He has extensive experience as a consultant to global health products and a researcher on clinical trials. The doctor has served on many other scientific advisory boards. He has also been an ophthalmology representative at institutional conferences.

According to John W. Huemoeller, the CEO of Axim Tauber is a leading authority on eye diseases. He has also done extensive research on the diagnosis, causes as treatment of dry eye disease (DED).

Huemoeller adds that Axim’s plans to develop a diagnostic company that can help physicians make a faster and improved diagnosis of DED. The company is pleased to have Dr. Tauber on the team to help them realize this dream and become leaders in the DED market.

Dr. Tauber is the CEO and founder of the Tauber Eye Centre. The practice focuses on ocular immunology, uveitis and corneal disease. It is also the country’s third-biggest eye bank.

The doctor has been part of various DED projects in the last 25 years.

Tauber has also been the principal investigator in more than 140 clinical trials. Some of his most successful trials have led to the approval of medication for the treatment of DED. These medications include Eyesuvis, Restasis, Cequa and Xiidra.

Dr. Tauber has also been the principal investigator in other eye diseases, including corneal infectious diseases, allergic eyes diseases, inflammation, ocular surface conditions, and corneal transplantation.

Dr. Tauber education

Dr. Tauber got his doctorate from Harvard Medical School. He trained for his residency in internal medicine at the Beth Israel Hospital. His residency for ophthalmology was at Tufts-new England Medical Center.

It was at the Massachusetts Eye and Ear Infirmary, Boston, that the doctor did his fellowship training n Ocular Immunology. 

Dr. Tauber has written more than 80 articles in ocular surface and immunologic disease for prominent medical journals like the Journal of Cataract and Refractive Surgery and Cornea.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

BUSINESS

Indiva Ltd (OTCMKTS: NDVAF) Will Introduce Warrant Exercise Incentive Program

Published

on

Indiva Ltd (OTCMKTS: NDVAF) has announced that it will introduce its warrant exercise incentive program soon. The program aims to exercise outstanding purchase warrants for more than 17 million common shares. 

Information about the exercise

Under the terms and conditions of the incentive program, the holder will receive one-half of one newly issued common share purchase warrant at no extra cost. However, as per the rules, the Warrant must be exercised on or before October 12, 2021. Furthermore, it is learned that every incentive warrant is exercisable into one common share for five years from the date of its issue at an exercise price of $0.45. If all the company’s warrants are exercised, the company can fetch gross proceeds of more than $6 million. However, there is no guarantee that all or any of the warrants will be exercised. 

Registered holders of the warrants will receive an intimation letter 

One of the essential aspects of the incentive program includes the method of exercising the warrants. The same will be drafted into a letter delivered to the respectively registered holders of the warrants. There is a time frame for the expiry of the early exercise period. It has come to light that those warrants that are not exercised before the expiry of the early exercise period, they will be considered outstanding regarding their original terms. Furthermore, they will not qualify for issuing incentive warrants. It has come to understood that a section of insiders of the company, who hold a portion of the warrants, are eligible to participate in the incentive program. The group is free from the formal valuation requirement related to subsections 5.5(a) and (b) of MI 61-101 and from the minority approval requirement legal document to subsection 5.7(1)(a) of MI 61-101.

Necessary regulatory approvals bind the incentive program; one of them includes receiving the nod of the TSX Venture Exchange. Indiva Ltd is one of the leading Canadian licensed producers. The group is involved in producing and distributing an award-winning range of cannabis products. 

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

BUSINESS

Bhang Inc (OTCMKTS: BHNGF) Partners With Belushi’s Farm and Blues Brothers

Published

on

Bhang Inc (OTCMKTS: BHNGF) announced that it has officially joined hands with Belushi’s Farm and Blues Brothers. The CPG brand company has inked a letter of intent with Jim Belushi’s licensing company, Green Globe Data & Research LLC, GreenGlobe. Co-branded Bhang x Blues Brothers chocolates will be introduced into the market, thanks to the partnership. 

Comments pour in from the parties who are involved in the partnership

Stating that the team is excited about the partnership, Jim Belushi conveyed that Jamie and her team have mastered the art of innovation and lead when sharing the happiness that cannabis gives. Meanwhile, Jamie L. Pearson, Bhang President, and CEO stated that Bhang Inc aims to make what can be enjoyed the fun. Pearson said that working with Belushi was fun; she added that developing cannabis products with their team was an honor. While Belushi is passionate about cannabis and leaves no stone unturned to put quality first, the President and CEO of Bhang Inc concluded by stating that the two teams shared the same wavelength. 

Information about the terms of the agreement

In the letter of intent signed on May 21, 2021, the terms of the agreement were scripted. According to the agreed terms, revenue generated through royalty will be shared as a 50:50 ratio. The same holds good during the debut product launch, which is scheduled to take place during 3Q 2021. Under the terms and conditions of the inked agreement, Bhang Inc will have to develop three additional edible products for GreenGlobe. It is learned that the products will become the intellectual property of GreenGlobe. Furthermore, the royalty will be split 80:20 ratio in favor of GreenGlobe.

Bhang Inc will issue to GreenGlobe 1.5 million subordinate voting shares. The shares will be valued at the market price at the time of closing the definitive agreements. Along with this, the group will provide GreenGlobe up to 12 million warrants, allowing it to purchase subordinate voting shares. 

The product portfolio of Bhang Inc includes more than 50 master-chef-created cannabis CBD and terpene products. The chocolates manufactured by the group are in the highly-awarded category. They are regarded as one of the best-selling edibles in as many as seven states in the U.S.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
Continue Reading

Trending Stories