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Kalytera Therapeutics Inc. (OTCMKTS:KALTF) In Need of Cash To Offset Milestone Payments Obligation

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Kalytera Therapeutics Inc. (OTCMKTS:KALTF) has had to venture into the debt market in a bid to raise much-needed funds to pay off milestone payments owing to the acquisition of certain programs from Talent Biotech’s Limited. Early last year, the development CBD therapeutics company got access to some programs through the purchase of Talent.

Milestone Payments Obligation

Under the terms of the agreement with former Talent Shareholders, the company was required to make certain contingent payments upon achievement of certain milestones such as the issuance of essential patents.

In April, the United States Patent and Trademark Office issued a patent covering the use of CBD for the treatment of severe and refractory GVHD. In May, the agency also issued another license covering the use of CBD for the prevention and treatment of chronic forms of GVHD.

With the issuance of the two patents, Kalytera Therapeutics is obligated to make payments to the former Talent Shareholders as part of the agreement agreed last year. The CBD therapeutics company is now required to make payments of up to $2 million for each patent which amounts to a total payout of $4 million.

Kalytera Offering

Kalytera has so far paid $50,000 to the former shareholders. In a bid to raise the remaining finances the company is currently marketing units made up of the company’s common share and purchase warrant. Each unit on offer is priced at $0.11 with the company optimistic of raising between $3 million and $10 million as part of the offering. Echelon Wealth Partners has been tasked with the responsibility of conducting the offering.

The company is obligated to make a minimum payment of $1.5 million upon closure of the ongoing offering, which is set to close on July 31, 2018. The company has reached an agreement with the former Talent Shareholders to defer a portion of the milestone payments.

Kalytera has been a disappointment for the better part of the year having already shed more than 70% in market value in the market. The stock is currently trading in a downtrend and dire need of new catalysts if it is to bottom out from current lows.

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Wanderport Corp. (OTCMKTS:WDRP) Targets The Skincare Market With Its CBD-based Hempova Skincare Products

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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.

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Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Stakeholders Give Go-ahead For Business Combination With Verano Holdings LLC

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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.

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Crop Infrastructure Corp (OTCMKTS:CRXPF) Announces Definitive Agreement For World Farms Corp To Go Public

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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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