Emerald Health Therapeutics, Inc. (OTCMKTS:EMTHTF) has been granted a cultivation license by Health Canada for its organic cultivation facility in Metro Vancouver, BC. The facility is customized for the production of high-quality organic cannabis from two 78,000 sq. ft. greenhouses as well as 500,000 sq. ft. of outdoor growing with the possibility of an additional 12 acres.
Emerald expects annual production in excess of 30,000 kg
The license allows Emerald to initially carry out cultivation in a 15,000 sq. ft. greenhouse space. The site was specifically designed for organic cannabis growing with the aim of exceeding annual production of 30,000 kg if there will be licensing for the whole outdoor and indoor production area.
Emerald CEO and Chairman Dr. Avtar Dhillon stated that organic products are appealing to most consumers as well as cannabis users and the company is looking forward to serving both recreational and medical users of Emerald’s premium cannabis products. The CEO indicated that the company designed the state-of-the-art facility to use natural light and it also has the latest climate control systems that are energy efficient. He also added that the company is applying select genetics from its large genetic library that is perfectly suited for indoor and outdoor cultivation.
Emerald using proprietary genetics to produce premium organic cannabis products
Through a combination of improved infrastructural designs, efficient operations as well as prudently picked genetics the company is aiming at the production of clearly differentiated organic products that are appealing to consumers. Emerald expects the outdoor cultivation to have a low-cost base compared to greenhouse production which will contribute considerably to profit margins.
The construction of the first greenhouse has already been finalized with completion of the second expected in Q4. Equally the first 12 acres of outdoor space is ready for planting. Emerald is working currently on the necessary municipal approvals for them to begin production at the Metro Vancouver facility.
The company has also indicated that Punit Dhillon has been granted a Health Canada security clearance and reappointed to Emerald’s Board of Directors.
Wanderport Corp. (OTCMKTS:WDRP) Targets The Skincare Market With Its CBD-based Hempova Skincare Products
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.
Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Stakeholders Give Go-ahead For Business Combination With Verano Holdings LLC
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.
Crop Infrastructure Corp (OTCMKTS:CRXPF) Announces Definitive Agreement For World Farms Corp To Go Public
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.
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