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Kalytera Therapeutics Inc (OTCMKTS:KALTF) Terminates LOI To Acquire Stero Biotechs, Ltd

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Kalytera Therapeutics Inc (OTCMKTS:KALTF) has terminated the previously signed Letter of Intent to take over Stero Biotechs, Ltd. Chief Executive Officer and President of Kalytera said the company will explore opportunities to acquire other companies, diversify and expand its operations despite canceling the LOI to acquire Stero Biotechs.

Kalytera and former shareholders of Talent Biotechs Ltd, a subsidiary of Kalytera, have earlier agreed to extend the maturity date of the promissory note to May 15, 2020. The company expected to complete the takeover of Stero by May 15, 2020. However, Kalytera has canceled the takeover of Israel based Stero, which develops CBD for co-administration with steroids and mitigate the safety issues.

Status of annual financial statements

The securities administrators in Canada on March 18, 2020, have granted a 45-day extension for periodic filings, which are due on or before June 1, 2020, because of coronavirus crisis. According to this notice, the BC Securities Commission endorsed BC instrument 51-515, and the Alberta Securities Commission has enacted 51-517, the temporary extension from certain financial requirements. Also, the Ontario Securities Commission has endorsed Ontario Instrument 51-502, which provides a temporary extension for certain financial requirements.

Receives extension to file financial statements

As a result of these temporary extensions, Kalytera can submit the audited financial statements for the year 2019 and quarterly results for the quarter ending March 31, 2020, within 120 days and 60 days. The company also received an extension to submit the management discussion and analysis for the year 2019 and the interim period within 120 days and 60 days, respectively, as per section 5.1(2) of NI 51-102. Kalytera is in discussions with auditors and expects to complete filings on or before June 24, 2020.

Amends irrevocable selling agreement 

Kalytera amended the sale period as required by the irrevocable sale agreement between its broker and Salzman Group for its common shares. As per the amended accord, its broker will sell the shares, which are previously issued to Salzman Group, in ten trading sessions instead of five trading days. Kalytera has issued common shares (each at CAD 0.05) worth $300,000 to Salzmon Group under the payment accord for certain services.

*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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Ayr Wellness (OTCMKTS: AYRWF) Opens Retail Dispensary in Eustis Florida, it’s 43rd in the State

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Ayr Wellness (OTCMKTS: AYRWF) has announced the opening of its latest cannabis dispensary in Eustis, Flordia. This is the company’s 43rd dispensary in the state. 

Ayr Eustis dispensary opens in Florida 

The dispensary will be located in the lovely lakefront city of Eustis, adjacent to The Villages, which is often regarded as the United States’ most popular retirement village. Notably, the location will occupy more than 3,000 sq. ft. of prime retail space. In addition, the dispensary will be the first in the state to be completely designed and constructed by the Ayr team, and it has design aspects inspired by the company’s forthcoming premier dispensaries in Watertown and Back Bay in the Boston area. 

Ayr acquired Liberty Health Sciences, a Florida-based company with 31 outlets throughout the state, in February 2021. Twelve more dispensaries have opened since then, bringing the number of dispensaries in Florida to 43. Interestingly, more than 650,000 patients are enrolled in Florida, making the state’s cannabis market the third-largest in the country in terms of total cannabis sales, with approximately $1.2B in medicinal marijuana income in 2020. Florida’s cannabis market is expected to produce $2.6 billion in annual sales by 2026, according to the BDSA.

Jon Sandelman, CEO, Chairman, and founder of Ayr Wellness said, “With 43 stores now open in Florida and another 30 locations under lease, we continue to expand our presence with our latest opening in Eustis. The Eustis store is notable both for its prime location, and for being Ayr’s first Florida store to incorporate our customer-centric design philosophies.” 

Ayr’s retail expansion reflects its groping product assortment 

The retail experience emphasizes the company’s expanded product assortment, which has been handpicked to satisfy consumer demands across all product categories and is intended to develop meaningful interactions with every user and community member that walks through Ayr Wellness’ doors

Ayr’s management team has a track record of building successful enterprises via strict financial and operational management, and they are dedicated to making a meaningful effect on customers and the people they serve.

*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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The Tinley Beverage Co. Inc. (OTCMKTS: TNYBF) Corrects Release on Purchase Notice From Ontario Cannabis Store for Its Products

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The Tinley Beverage Co. Inc. (OTCMKTS: TNYBF) has a corrected its December 16, 2021 release indicating that the date December 16, 2022, should have read December 16, 2021. 

Tinley finalizes submission of presentation and documentation to OCS

As a result, the corrected release now indicates that the company has announced that its two licensed co-packers in Canada have finalized the submission of additional marketing, training, and technical documents required by the Ontario Cannabis Store after the issuance of a formal notice on December 16, 2021, by OCS. 

The OCS Notice includes the company’s Canadian version of the Cannabis Cup prize-winning Tinley’s ’27 Coconut Cask popular as Tinleys ’27 Smooth Coconut and the company’s Tonics La Paloma read-to-consume sparkling mocktail to be branded Tinleys Classics Mystic Dove. 

The company expects purchase orders in February for the two products after responses to any requests for information that could result from OCS’ evaluation of documents presented. Spring launch items are slated to arrive at the OCS warehouses in March, with an online order availability in early April and a retail debut in registered cannabis retail stores on or around April 12, 2022. Throughout Spring and Winter of 2022, Tinley will work with its sales reps to boost the brand and increase distribution.

Tinley is getting ready for more products launch in 2022

Tinley, its sales agents, and co-packers are preparing the appropriate presentations to the OCS for the remainder of Tinley’s Canadian product portfolio up by January 21, 2022. This submission is the new product call cycle’s initial stage for a July 2022 release. 

Ted Zittell, director and member of the Office of the CEO, said, “Like many of our approximately 5,000 thirsty Canadian shareholders, I am looking forward to buying Tinley’s infused Canadian beverages at one of the many licensed retail outlets close to home.”

Tinley has confirmed the submission of all required documentation and presentations for its 7 Canadian SKUs to relevant cannabis buyers at Alberta Gaming and Liquor Commission and British Columbia Liquor Distribution. 

*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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Livewire Ergogenics Inc. (OTCMKTS: LVVV) Expands Estrella River Farms Growing Space By 2 Acres

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Livewire Ergogenics Inc. (OTCMKTS: LVVV) has announced that the growing area expansion by two more acres on Estrella Ranch is on course in advanced stages. 

Livewire Ergogenics expands Estrella River Farms’ space to 130,000 sq. ft.

The expansion will boost Estrella River Farms’ (“ERF”) canopy space to over 130,000 sq. ft. of production, with most of the extra land already earmarked for private label partnership with many popular third-party cannabis companies in California.

CEO Bill Hodson stated, “Our affiliate company, Estrella River Farms (ERF), has delivered the second part of its inaugural harvest to the processing facility for final processing and subsequent pick up by its customer. As earlier reported, ERF has fully utilized the initially permitted cultivation area at Estrella Ranch.”

Hudson explained that since ERF has completed utilizing the permitted growing area, it is expanding growing space by another two acres to bring the total acreage to 130,000 sq. ft. In addition, the company has agreements from two notable California cannabis businesses to grow on Estrella Ranch, as the industry recognizes its facility’s great chance to cultivate high-quality, sun-grown marijuana in California. As a result, Livewire Ergogenics has set aside a large portion of the new land for those brands.

Livewire Ergogenics expanding growing space because of increased demand 

The initial intention was to increase one acre at a go. Still, because the interest for Estrella River Farms’ sun-grown cannabis is so high, the company decided to add two more acres right away. So, in addition to producing and promoting the “Estrella Weedery” branded product, Livewire Ergogenics will work with private label clients to produce and sell the “Estrella Weedery” branded cannabis. The Estrella River Farms and Estrella Ranch brands will be used to advertise the house product, which will be sold across California through current channel agreements.

The company is growing faster than expected due to increased interest in its product, not preparing for regulatory changes. Livewire Ergogenics runs a financially cautious operation and keeps expanding operations in line with its business strategy and the existing legal environment.

*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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