The Israel-based Isracann Biosciences Inc (OTCMKTS: ISCNF) is excited after obtaining the Foreign Owners Cannabis License from the country’s Minister of Health. The company has termed the event a massive one, outlining that it will enable it to reach significant growth opportunities. The other thing in this regard has to do with the company having an easy time penetrating the markets.
The company embarks on preparations in readiness to work on concluding several regulatory considerations and strike partnerships. It looks forward to better times ahead as it prepares to kick-start its commercial operations.
The company’s CEO Darryl Jones opines, “We continue to push ahead on multiple fronts. From product importation to new genetics programs on the one hand, today we also celebrate our official approval as foreign owners in this exciting sector.”
Jones says that the time has finally come for the company to accelerate its efforts towards the much-anticipated entry in the commercial marketplace. He discloses that the company has been holding talks with the relevant parties and reached a consensus. The leader considers the company’s success in getting the license a step in the right direction.
What does the license mean for the company?
According to analysts, getting the license will propel the company to the most incredible heights of business success. It will witness massive success in unveiling some of its most important initiatives, which might lead to significant revenue streams.
The Covid-19 outbreak brought most businesses to their knees, and this company had its fears as well. For example, it thought that the pandemic would end up causing delays or other profound implications. Isracann Biosciences has been quite lucky, considering that it wasn’t adversely affected by the pandemic. It has taken advantage of that to continue making more investments in added value and developing close business ties within its region.
MJ Holdings Inc. (OTCMKTS: MJNE) Enters Growing Management Agreement with Green Grow Investment Corporation
MJ Holdings Inc. (OTCMKTS: MJNE) has signed a cultivation management agreement with Green Grow Investments Corporation to develop a 10 acres greenhouse project. This will be the third management agreement the company is entering.
Green Grow Investment to complete phase 1 construction by fall
As per the terms of the agreement, Green Grow Investment will build an estimated 260,000 square feet of greenhouse with phase 1 expected to be ready by fall 2021. The first phase of the facility targets the cultivation of 100,000 square feet of premium cannabis flower. The other two land management agreements the company entered already have pods/greenhouses shipped.
The company’s CEO Roger Bloss stated that besides the MJ Holdings’ cultivation program, the model for the 260-acre Farm at Amargosa Valley is to provide licensing and land to incredible brands and companies like Green Grow Investments Corporation. This will enable them to fund and build ultra-modern infrastructure to manage, grow, and provide the best cannabis. Bloss said they would share an executive report to shareholders this month declaring its aims and detailing financial expectations from all of the management agreements signed so far. A revenue stream of eight to ten management agreements between cultivation and production is projected to allow Mj Holdings to flourish and expand rapidly than rivals.
MJ Holdings informs shareholders about the management agreement
Recently the company informed shareholders that besides its objective to be the biggest cannabis growing facility in Nevada, they had entered an agreement with Green Grow Investment to develop 10 acres.
Chief cultivation Officer and founder MJ Holdings Paris Balaouras stated that they are looking forward to the partnership with Green Grow Investments to help them reach their objective of producing over 30,000 pounds of marijuana per year. In addition, Paris said they are gathering over 100 distinct strains of unique cultivars to hold regular sales competitions that will “WoW” customers.
MYM Nutraceuticals Inc. (OTCMKTS: MYMMF) Releases Q3 2021 Results and Announces Merger with IM Cannabis Corp
MYM Nutraceuticals Inc. (OTCMKTS: MYMMF) has released its financial results for the quarter ended February 28, 2021, in which gross revenue was $4.4 million, an 8% QoQ growth with a positive EBITDA of $21,628.
MYM completes merges with IM Cannabis Corp
Michael Wiener, the company’s CEO, said that despite the challenging market conditions due to the COVID -19 pandemic and SKU rationalization in different provinces, the company managed to grow revenue and record positive EBITDA in Q3 2021.
On April 1, 2021, Wiener said that the company announced a definitive merger agreement with IM Cannabis Corp (NASDAQ: IMCC) according to an arrangement to be finalized under the Business Corporations Act. IMCC is a multi-country operator, which is ideal to complement the company and Wiener said that a combined company would embark on the next growth phase and shareholder value realization.
Following a successful year, the CEO said they believe the IMCC merger is an excellent outcome for MYM shareholders. The merger offers MYM an international distribution platform to Israel and the EU and an expanded product portfolio.
According to the terms of the agreement, MYM shareholders will receive 0.022 IMCC common shares for each of their MYM common shares. MYM officers and directors, some MYM shareholders, and Biome Grow Inc., who control around 44.4% of voting shares, voted to approve the transaction.
Cultivator Catalyst acquires MYM shares.
The company has announced that Cultivator Catalysts Corp has acquired 88.904 million common shares of the company as per the right of conversion of 88.904 million Class A Special Shares of MYM International Brands Inc., a subsidiary of MYM. Before the acquisition, Cultivator Catalyst Corp controlled 33.863 million common shares, which around 13.3% of around the 255,157 million outstanding and issued common shares. After completing the transaction, Cultivator Catalyst will hold around 33.3% of the company’s issued and outstanding shares.
GSRX Industries Inc. (OTCMKTS: GSRX) Announces Rebranding Plans As It Opens the First Virtual Delivery Only Restaurant
GSRX Industries Inc. (OTCMKTS: GSRX) announced the launch of Wrap Hack Café, which is the company’s first Virtual Delivery Only Restaurant (VDOR), in March 2021.
GSRX opens first VDOR in Pennsylvania
The first Wrap Hack Café will operate in State College, Pennsylvania, and deliver all orders through the GrubHub network. Penn State University, which has an annual enrolment of over 45,000 graduate and undergraduate students, is one of the largest institutions in the United States.
Troy Nihart, GSRX Industries Inc.’s Interim CEO, said that food delivery applications had transformed the restaurant sector. In addition, the disruption of the COVID-19 pandemic has significantly transformed where and how people dine. Nihart said they would keep expanding VDORs with lower operational and startup expenses and swiftly adjust to changing food trends. He added that VDORs would become a permanent part of business operations in the food industry in the future.
Recently the company announced that its board of directors had approved the rebranding of its corporate identity, opening a new business vertical in the restaurant sector focused on emerging opportunities in underserved areas and relocating GSRX’s corporate headquarters to Pennsylvania.
GSRX plans to enter the restaurant market
Nihart said that the GSRX corporate identity is being rebranded as part of its continued plan to grow its business and lay the groundwork for new prospects. He added that the company has plans to enter the restaurant industry in underserved rural locations, initially focusing on drive-up, curbside, and delivery services. Due to the disruptive COVID-19 pandemic in rural areas, there is a high need for these services.
GSRX will be rebranding its nutritional supplement business and expand offerings to include mushrooms in Q1 2021. The company is focused on acquiring and creating top brands in the restaurant and nutritional supplement sector. In addition, GSRX employs the latest marketing strategies as it seeks to boost revenue growth through consumer experiences.