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Ayr Wellness Inc (OTCMKTS: AYRWF) Finalizing merger agreement with Blue Camo, LLC (Arizona)

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Ayr Wellness Inc (OTCMKTS:AYRWF) is in the final stages of acquiring 100% interest in Blue Camo, LLC. The deal comes after a previously signed Letter of Intent. Ayr Strategies is a specialist in medical cannabis with operations in several states across the US.

In an announcement late last year, Ayr laid out plans to acquire 100% interest in Blue Camo, LLC, which has its operations in Arizona. Ayr will also acquire all Blue Camo’s assets, including a cultivation facility under construction in Phoenix measuring 80,000 ft2, a 10,000 ft2 triple-stacked cultivation and processing facility in Chandler, and three Oasis-branded dispensaries in the greater Phoenix area.

In a statement, Ayr Strategies said Arizona has been on the list of attractive markets for cannabis for a long time, ranking third in the US in terms of patient penetration. The company noted that the medical cannabis market in Arizona is worth $1 billion. This figure is expected to go up following a decision by the Arizona Department of Public Health to approve the recreational use of cannabis.

The department has already approved around 90 locations, including three that Ayr Strategies are acquiring. The three Oasis-branded dispensaries have been approved for adult-use sales and started operations at the start of this year.

Under the agreement, Ayr Strategies will pay a down payment of $75.4 million, split between $9.5 million in cash and $37.4 million in stock. Ayr Strategies will also deposit 2 million shares in escrow to be released after attaining the new facility’s required production targets.

Ayr Strategies announces change of corporate name

Ayr Strategies Inc has changed its corporate name to Ayr Wellness Inc. The change took effect on February 12.

In a statement, Ayr Wellness Chairman and Chief Executive Officer Jonathan Sandelman said the change was motivated by the desire to better reflect the company’s mission of offering premium quality cannabis. Also, he said they are working at improving customer experience, and establishing the company as a voice of authority in the industry.

Sandelman also said Ayr Wellness will work towards enriching their customers’ lives. This, he said, will be achieved through the cultivation of high-quality plants and processing high-quality cannabis.

*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.

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Aleafia Health Inc (OTCMKTS: ALEAF) Appoints David Pasieka to Board of Directors, and Stereo Vision Entertainment Inc (OTCMKTS: SVSN) Has David Waite as Independent Director

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Aleafia Health Inc (OTCMKTS: ALEAF) announced that the group had appointed David Pasieka to its board of directors. Meanwhile, the group also announced the departure of director Mike LeClair. It is learned that Pasieka has credit experience in finance, audit, risk management, and ESG. Before this new appointment, Pasieka has taken the position of an entrepreneur in residence at the MaRS Discovery District.  

Pasieka will serve both management and the board

On behalf of Aleafia Health Inc, Mark J. Sandler, chair of the company’s board of directors, wished the outgoing director LeClair good luck in his future endeavors. In addition, Sandler welcomed Pasieka and expressed that Pasieka holds a professional track record as a leader who aims to take the business to the next level of growth and help serve the board and the management of the group. The chair of the company’s board of directors is confident that the team will strengthen the group’s position in medical and commercial markets. 

Aleafia Health Inc is a licensed Canadian cannabis company that offers a range of cannabis health and wellness services and products in Canada. In addition, the group has a presence in the international market. 

Stereo Vision Entertainment Inc (OTCMKTS: SVSN) announces David Waite as Independent Director

Stereo Vision Entertainment Inc (OTCMKTS: SVSN) conveyed that its board of directors has unanimously elected David Waite as Independent Director. In addition, Waite of Waite Enterprises LLC is appointed on the StereoVisions Board of Directors for Stereovisions planned uplisting to the OTCQB, it is learned.

CEO of the group Jack Honour welcomed Waite as Independent Director to StereoVisions Board and added that Waite has his credit experience in sales consulting. It is also learned that Waite has donned many hats before taking up the new responsibility assigned to him. He has served as a consultant for state and federal government agencies in sectors including banking, industry, and financial services. Stereo Vision Entertainment Inc is a Nevada publicly traded company. 

*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.
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INDVR Brands Inc. (OTCMKTS: CAAOF) Appoints Chairman and CEO, and Hexo Corp (NASDAQ: HEXO) Has New Chief People and Culture Officer

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INDVR Brands Inc. (OTCMKTS: CAAOF) is back in the news. The group, in a statement, announced that Hugh Hempel would play the role of Chairman and CEO with immediate effect. In addition, the group made it official that Joshua Mann, the former CEO, will continue to serve as a non-executive member of the board of directors. It has also come to light that Mann will work with Hempel on asset integrations, and the duo will take the company to the next stage. 

The duo will work on enhancing the product portfolio of the group

The former CEO of the company stated that he is looking ahead to working with Hempel to strengthen the company’s product portfolio. Mann added that INDVR Brands Inc. has built a strong foundation with its existing range of products and added that the company is all set to scale to the next level of growth. In addition, the team is confident of the wealth of experience their leader brings with him in the sector, as Hempel is regarded as one of the pioneers in the U.S. Cannabis industry. 

INDVR Brands Inc. aims at expanding its famous hemp and cannabis brands throughout North America. The company has a portfolio of award-winning products which have many takers. 

Hexo Corp (NASDAQ: HEXO) appoints Chief People and Culture Officer

Hexo Corp (NASDAQ: HEXO), in a statement, announced that Guillaume Jouët would serve as Chief People and Culture Officer. The appointment is effective from September 8 2021.  Sebastien St-Louis, CEO, and co-founder, Hexo Corp, said that the workforce is the biggest asset for the company.

The CEO added that the group is happy to have Jouët on board when the company is working on strategies to expand in Canada and spread its wings across the U.S. and globally. In the backdrop of this, Jouët, who is regarded as a vital member of the team, will work on areas like public affairs, communications functions, and human resources. In addition, the group appointed Valerie Malone as its Chief Commercial Officer earlier this month. Malone will work closely with the organization’s marketing, sales, and product development groups and will be responsible for commercial strategy and development.

*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.
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Vext Science Inc (OTCMKTS: VEXTF) Declares Record 2Q 2021 Results With Revenue of $9.4 Million

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Vext Science Inc (OTCMKTS: VEXTF) recently announced its financial results for 2Q 2021. The group reported a record revenue of $9.4 million. Throwing light on other numbers, the company announced adjusted EBITDA of $3.4 million, fully diluted EPS stands at $0.01 while the operating cash flow is $4.5 million. These are the record financial results of the group. 

CEO comments that consistent efforts delivered record results

Crediting the team at Arizona for their outstanding performance at the dispensary level, Eric Offenberger, CEO of Vext Science Inc, stated that the persistent demand for the Vapen brand from third-party dispensaries from across the state contributed to a spike in sales. The effort has resulted in helping the company earn profit besides increasing the operating cash flow. In terms of numbers, expectations are pinned high on the Arizona market as it is expected to generate $3 billion in annual sales by 2025. Against this backdrop, the CEO informed that the company positioned itself to achieve the targeted sales number. 

Alongside registering profit through an increase in sales, the group is also expanding its manufacturing capability. The CEO announced that the company sealed a purchase deal of a 72,000 square foot facility, reportedly located in Eloy. When this comes online in early 2022, as expected, the indoor cultivation capacity of the group will nearly triple. 

Commenting on another milestone achieved in Arizona, Offenberger informed that Vext Science Inc agreed to produce and distribute MAJOR cannabis-infused beverages and Wynk THC seltzers in Arizona in July. Moving the focus away from Arizona, the CEO informed that the group had made remarkable progress in Ohio, as the Vapen brand has many takers in the market. Expectations are pinned high in both regions. The corporate house expects growth in the following 12 months, and this period is also a time when the company is hoping to expand its presence in many states. 

Other milestones achieved by Vext Science Inc

The group announced that it has entered into a Memorandum of Understanding (MoU) with SōRSE Technology Corp. to exclusively produce and sell SōRSE’s MAJOR cannabis-infused beverages in Arizona. In July this year, the corporate house announced that it would establish its retail presence in Ohio. In the same month, the US-based Cannabis THC manufacturing company announced that it had joined hands with Agtech PA LLC. In Arizona, the partnership allows Vext Science Inc to exclusively produce and sell Wynk THC seltzers (“Wynk”).

*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.
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