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Ginkgo Bioworks and Cronos Group Inc (NASDAQ: CRON) Announce Achievement of First Milestone

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Ginkgo Bioworks and Cronos Group Inc (NASDAQ: CRON) have announced that they had achieved the first target productivity milestone in their partnership to produce eight cultured cannabinoids. For this reason, Cronos group will issue 1.5 million common shares to Ginkgo. Using Ginkgo’s platform for organism development and design, Cronos has now achieved the productivity target for cannabigeloric acid (CBGA). This will support the CBGA product launch that the Cronos Group planned for the fall.

Partnership between Cronos Group and Ginkgo launched to create eight cannabinoid molecules

The partnership between Cronos and Ginkgo was launched in 2018 to access rare molecules from the cannabis plant to create new products that would otherwise be expensive. The partners now aim to create eight molecules.

The companies use Crono’s knowledge of the biological function and structure of the cannabinoids and Ginkgo’s expertise in designing microorganisms to produce cultured products. 

According to Kurt Schmidt, the CEO of Cronos Group, the two leading companies can improve the cannabis industry through their individual expertise. He adds that Ginkgo has a platform that allows companies in various sectors to get to their customers with high-quality products. He adds that Ginkgo and Cronos will use their joint talents to make cannabis more accessible to customers.

Jason Kelly, co-founder and CEO of Ginkgo, explains that with cell programming, they can access essential and rare molecules such as cannabinoids. The companies are happy to help other companies use biology to develop new products. So far, Kelly says their partnership with Cronos has enabled them to make tremendous progress. 

Shortly after making the announcement, Cronos Group shares went up to C$8.01, an increase of 1.39%. Ginkgo recently announced a collaboration with Soaring Eagle Acquisition (NASDAQ: SRNG).

Services provided by Cronos and Ginkgo

Cronos is a global cannabinoids company. It manufactures, markets and distributes cosmetic products and supplements derived from hemp through retail, hospitality partner channels and e-commerce. It is an international company that produces and distributes across five continents.

Ginkgo Bioworks is one of the largest horizontal platforms that deal in cell programming. It provides services to customers in industries that develop new products through biology. 

*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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BUSINESS

Planet 13 Holdings Inc (OTCMKTS: PLNHF) Announces Divestiture of Florida License with Harvest Health

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Harvest Health & Recreation Inc (OTCMKTS: HRVSF), is a multi-state operator in the United States, recently announced that it had signed a definitive divestiture agreement with Planet 13 Holdings Inc (OTCMKTS: PLNHF) for its Medical-Grade Cannabis Treatment license from Florida’s Department of Health.

Planet 13 Holdings Inc (OTCMKTS: PLNHF) has agreed to buy the license for approximately $55 million. The planned divestitures are made up of the license sale only and don’t include any operational or planned facilities. Closing this specific divestiture remains subject to the CSCC (customary satisfaction of closing conditions), including the planned acquisition of Trulieve Cannabis Corp and other regulatory approvals

Senior Management

Steve White, the company’s Chief Executive Officer, said that they’re delighted to have entered into this divestiture agreement for the Florida license, which they’ll need if they want to finalize the Trulieve deal. He further stated that they’re encouraged by how much progress they’ve made so far and will continue to strive and complete both deals. Harvest’s financial adviser in this deal was Canaccord Genuity Corporation.

Harvest Health has its headquarters in Tempe, Arizona. It’s a multi-state operator and a vertically integrated cannabis corporation. Since 2011, the company has been dedicated to expanding its wholesale and retail footprint all across the United States. The company is dedicated to selling, manufacturing, and acquiring cannabis-based products for both consumers and patients all across the country. In addition to all this, the company also wants to provide dispensaries with their services. Through targeted acquisitions, service agreements, and organic license wins, Harvest Health has created operational footprints spanning many different states in the United States.  

Todd Harrison posted on Twitter about this deal and even mentioned the consideration price of $55 million. Many people had mixed reactions about the whole transaction, but a majority felt like both parties were getting one step closer to achieving the business goals they set out when they started doing what they do now.

*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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Valens Company Inc (TSE: VLNS) Buys The Issued And Outstanding Common Shares From Citizen Stash

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Valens Company Inc (TSE: VLNS) and Citizen Stash Cannabis Corp (OTCMKTS: EXPFF) have announced their entry into a new deal. It is an arrangement that will enable Valens to reach its goal to purchase the issued and outstanding common shares from Citizen Stash. 

Details about the deal

The company understands all the terms and conditions, which include working with a court-approved plan of arrangement. In addition, the company says the arrangement must be linked to the Canada Business Corporations Act and discloses the transaction’s value, which stands at about $54.3 million on an enterprise value basis.

The Citizen Stash shareholders know the great role the terms of the Arrangement Agreement play in the wider scheme of matters, including dictating what they end up with in the form of Valens common share. 

Valens considers the Citizen Stash Acquisition to be a step towards the right direction, outlining that it will be rather accretive for it in the future. It looks forward to great times ahead where it improves its portfolio. It hopes to add to it an innovative, premium flower brand. It acknowledges that it exists in a rather competitive business climate and is thus doing everything to keep improving its position in the fast-changing world. 

The successful completion of the Citizen Stash transaction tells quite a lot about Valens’s determination to succeed. It is an achievement that takes the company’s acquisitions a notch higher. They will add up to a total of three. 

Valens wants to progress, which includes developing an elaborate global manufacturing platform that will enable it to clinch a significant market share. In addition, it plans to undertake a series of innovative product launches that serve product consumers with great experiences.

Robson’s perspective

The  Chief Executive Officer and Chair of the Board of The Valens Company, Tyler Robson, opines, “We are excited to join forces with Citizen Stash’s experienced team and broaden our offerings in the flower and pre-roll verticals with a best-in-class brand. The premium price tier of the flower and pre-roll segments represents the best expansion opportunity for Valens in the flower category, as premium brands are the hardest to build, while also capturing the highest margins.”

*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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Net Savings Link Inc (OTCMKTS: NSAV) Hints on the Unveiling of a Premium OTC Crypto Trading Desk

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Net Savings Link Inc (OTCMKTS: NSAV) has disclosed details about what it needs to achieve by mid-September. It unveils a Premium OTC Crypto Trading Desk that will provide personalized service to high net-worth individuals and institutions. It will particularly focus on institutions and persons that trade in large blocks of cryptocurrency. 

The shift

The OTC Crypto Trading Desks continue growing in popularity as the destinations where people can benefit from the unlimited purchase of the unlimited tokens. Such traders benefit from Fiat support, price protection, and anonymity. The tokens in question happen to be the ones that are difficult or impossible to find on exchanges. 

NSAV’s OTC Desk will serve many clients effectively, especially those requiring execution and settlement services. Most of them seem more inclined to benefit from secure, discreet, and competitive services. There is a major shift in the state of affairs, including all the major crypto exchanges’ success in establishing their OTC Desks. It was back in 2019 that Kraken announced it had bought a leading OTC Crypto Trading Desk. It continues to witness massive success since then, And currently, it stands out as one of the best performing  OTC Crypto Trading Desks globally. The company’s management takes great pride in having its own OTC Crypto Trading Desk, which it hopes will serve NSAV and all its shareholders remarkably. It continues making many efforts to enable it to scale higher.

Lim speaks out

The Interim CEO and Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner Mr. Dato’ Sri Desmond Lim, opines, “I am thrilled that NSAV will soon have its own OTC Crypto Trading Desk. I believe that it will be a great compliment to NSAV’s current business model.”

The official looks forward to better times ahead where the company succeeds in setting up a fully integrated technology company that will do a great job in delivering turnkey technological solutions to the blockchain, cryptocurrency, and digital asset industries.

*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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