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BLUE DIAMOND VENTURES ORD (OTCMKTS:BLDV) approves expansion of governance

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BLUE DIAMOND VENTURES ORD (OTCMKTS:BLDV) has announced that the Cann10 NA business model will also include licensing of targeted therapies and specific technologies. This was contained in a strategic plan that was presented by the company’s CEO Josh Alper to the Board of Directors.

In the presentation, Alper said the company has witnessed a faster movement of new developments that initially anticipated. He added that they are happy with the chance to offer products that have been well researched.

Focusing on technology

The new plan is part of Cann10 North America‘s strategy to adopt a technology licensing model. The CEO said through this new model, they will be able to access new goods and solution from Israel. He added that companies have started enrolling into the program. Following the change in activity, The Cann10 Alliance will now be called the Cann Tech Alliance.

Terms of the agreement

As part of the agreement, BLDV will create an additional slot of Chairman and CFO to be filled by representatives from Cann10 Israel. This is expected to significantly expand BLDV’s governance structure and add more public management and financial experience. In the share exchange agreement, BLDV is expected to acquire Cann10 North America as its owned subsidiary. There will be no change of symbol or reverse.

In 2017, Blue Diamond Ventures purchased 25% stake in Cann10 North America Ltd. In the new venture, BLDV became the majority shareholder in Cann10 North America Ltd. In the agreement, BLDV was assigned one seat on Cann10 North America’s Board of Directors. The transaction involved transfer of restricted shares and added services valued at $750k. Following the deal, Cann10 North America market cap became $3 million.

Some of the programs that Cann10 North America is currently pursuing include expanding Cann10’s trade and business activities to Canada, USA, Mexico and Caribbean. The company has partnered with leading universities to offer education and courses in medical cannabis.

Additionally, the company is working on offering new investment opportunities to its customers. Many of these opportunities will involve medical devices and targeted therapies. Cann10 North America also intends to launch and run medical cannabis conferences throughout North America.

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Canopy Rivers Inc (OTCMKTS:CNPOF) Will Sell Its Interests In Vert Mirabel, Tweed Tree Lot, And TerrAscend To Canopy Growth Corp (NASDAQ: CGC) For $297 Million

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Canopy Rivers Inc (OTCMKTS:CNPOF) decided to offload its interests in Vert Mirabel, Tweed Tree Lot, and TerrAscend to Canopy Growth Corp (NASDAQ: CGC). The company will use the proceeds for acquisition, investment, and merger opportunities.

Canopy Growth will pay $115 million

As per the terms of the pact, Canopy Growth will pay upfront cash of $115 million and the balance through the issue of 3.75 million common shares to Canopy Rivers. Following the transaction, Canopy Rivers will hold the largest stake in Canopy Growth. Canopy Growth will also cancel its 15.23 subordinate voting shares and 36.468 multiple voting shares in Canopy Rivers.

The CEO and President of Canopy Rivers, Narbe Alexandrian, said the transaction offers immense value to its investors and strategic flexibility besides improving cash. It also eliminates dual-class SS (share structure). He further said the company will focus on opportunities in the international cannabis market.

Chairman of JW Asset Management, Jason Wild, said he supports the transaction as a long-time investor in Canopy Rivers. Following the deal, JW Asset Management will hold a 23.9% stake in the company. Canopy Rivers is poised to capitalize on the cannabis market in the US and across the world using liquid securities and cash balances.

On completion of the transaction, the directors nominated by Canopy Growth will resign from Canopy Rivers’ board. New directors with relevant skills and expertise will be selected to manage Canopy Rivers.

The income of $82.2 million

Canopy Rivers expects to close the transaction by the end of February 2021. The company reported a significant income of $82.2 million in Q3 2021, gained from its investments in TerrAscend. It expects to maintain a strong strategic and financial position to play a vital role in the cannabis market of the US following the transaction with Canopy Growth.

Narbe said the quarter highlights include a negotiated transaction with Canopy Growth and expect to offer significant dividends to the shareholders. Its portfolio companies are maintaining momentum with the favorable regulatory reforms in the US. The company will venture into the US market at an appropriate time to clinch the emerging opportunities.

Agripharm, a Canopy Rivers portfolio company, shipped its Vape products to British Colombia in October 2020 and to Ontario in December 2020. The company also supplied Firefly Mini products to the customers in Ontario.

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Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) Establishes Digestix Bioscience Inc To Develop Pharmaceutical Compositions And Medical Devices To Treat Neoplastic Local Tumors

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Cannabics Pharmaceuticals Inc (OTCMKTS:CNBX) founded an auxiliary – Digestix Bioscience. The new company will develop pharmaceutical compositions and medical devices to cure early-stage and precancerous neoplastic local tumors.

The inhibitory effects of pharmaceutical composition prevent the recurrence of adenomatous colorectal polyps, which exist in 25 to 30% of colonoscopies performed on women and men aged above 50 years. In the US, 19 million colonoscopies are conducted every year.

Cannabics holds a majority stake in Digestix

Digestix is established by Gabriel Yariv, Erez Scapa, Eitan Scapa, and Cannabics. The COO and Director of Cannabics, Gabriel Yariv, will act as CEO and interim CEO of Digestix.

The co-founder of Digestix, Eitan Scapa, said the polyps, which do not show any symptoms, can develop into colorectal cancer. Even after the removal, aggressive polyps can improve the chances of a tumor becoming cancerous. Digestix has developed a proprietary and innovative solution to mitigate the recurrence of aggressive polyps.

Scapa is specialized in liver diseases and gastroenterology. He previously managed GLDU (Gastroenterology and Liver Diseases Unit) at Asaf Harofe Medical Center. Scapa also worked as a Chairman (Helsinki Committee) at Asaf Harofe Medical Center.

Commences In-vivo studies in animal models

Cannabics commenced in-vivo trials in animal models. In this test, the company will test RCC-33 drug candidate on mice transplanted with the CCT (colorectal cancer tumor) cells. It will include the results obtained from this study in the package, which will be submitted to the US FDA.

Cannabics already completed an in-vivo study on fresh human biopsies in Israel and colorectal cancer cells using its drug candidate RCC-33. COO of Cannabics, Gabriel Yariv, said the company is excited to be at the forefront cannabinoid derived drug discovery and development. The company targets to submit a pre-clinical data package to US FDA. It is necessary to support cannabinoid-derived Drug Candidate RCC-33 to cure colorectal cancer.

Interim positive results

Cannabics achieved positive interim results from its ongoing in-vivo trial that evaluates the efficacy of RCC-33 in treating colorectal cancer in mice. According to the results, the drug candidate achieved a 25% reduction in the tumor volume in mice.

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Halo Labs Inc (OTCMKTS:AGEEF) Enters A Share Exchange Accord To Acquire 1275111 B.C. Ltd.

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Halo Labs Inc (OTCMKTS:AGEEF) signed a deal to take over 1275111 B.C. Ltd. As per the terms of the deal, Halo Labs will issue 147,475,343 shares to buy all the outstanding and issued shares of 1275111 B.C.

1275111 B.C. developed IP related to cannabinoid purification and filtration, for which the patent is pending. Following the takeover, Halo Labs will benefit from improved economies in processing high-quality cannabis.

SVP (Operations) of Halo Labs, Josh Haddox, said the novel technology of 1275111 B.C. will help save manufacturing costs. Halo Labs expects to implement this new technology by March 2021. The deal is subject to the approval of NEO Exchange Inc and satisfying other conditions.

Mobilizes funds of CAD 2.25 million

Halo Labs will collect CAD 2.25 million through the issue of 40.9 million shares each at CAD 0.055. The shares issued through a private placement shall have a holding period of four months and one day. Halo Labs will use the proceeds from the offering for working capital needs.

Halo Labs will close the non-brokered private placement and takeover of 1275111 B.C. by January 4, 2021.

The name change to Halo Collective Inc

Following the nod of shareholders in a meeting held on December 23, 2020, the name of Halo Labs is changed to Halo Collective Inc. As a result, Halo Collective will trade under the symbol – HCANF on the OTCQX with effect from January 28, 2021. The company’s common shares will trade under the ticker – A9KM with effect from January 28, 2021.

Halo Collective plans to offer diverse products and revolutionize the cannabis sector across the world. Its innovative products include cartridges, edibles, concentrates, and quality flower. The company will cater to the needs of recreational and medical cannabis users with its innovative products. Its collective retail sales in Oregon exceeded $1 billion.

Halo Collective also completed the takeover of Eugene, Oregon-based Winberry Farms. The presence of Halo Collective expanded to include 500 dispensaries in Oregon.

Halo Collective also plans to expand its operations in Alberta, Canada, through a deal with High Tide, which operates three dispensaries offering concentrates like live resin, solventless resin, hash, and shatter.

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