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Marijuana Company Of America Inc (OTCMKTS:MCOA) Wants To Leverage On The Rising Opportunity In Hemp Industry

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It was today that a multifaceted financial news and publishing company called CannabisNewswire (“CNW”) disclosed details regarding the publication of an editorial that features Marijuana Company Of America Inc (OTCMKTS:MCOA).

Recent developments

Since its establishment, this company has paid quite a huge deal of focus on product research and development of legal hemp-based consumer products. Sources indicate that these products are constituted by CBD and pull along pull along under the under the brand name “hempSMART™”.

Quite a significant number of companies around the globe are currently focusing on business expansions in a bid to leverage on the great market emanating from the legalization of cannabis in a large number of states.

MCOA’s hempSMART™ product line is derived from industrial hemp containing CBD compounds and as per this moment it sticks out one of the finest quality of botanical supplements currently on the market.

Most of the MCOA’s hempSMART™ products are highly rated considering that for any of them to be introduced to the market it has to pass the high quality scientific tests.

HempSMART affiliate network marketing program

It was in one of its latest releases that MCOA announced that it was focusing on coming up with its own unique hempSMART affiliate network marketing program which it expected would be moving along way helping expand sales virally.

A person well conversant with the matter has disclosed that the affiliate marketing program  was working a great deal when it came to promoting as well as the sale of hempSMART’s CBD consumer products  in the U.S.

Expansion plans

The spokesperson of MCOA has outlined that they are at the moment expanding their footprint strategically across several facets of the hemp industry and hope that soon they will be able to boost shareholder value by a significant margin.

Asides from being used as a form of therapy, Hemp also has a wide range of other uses. It can be used as food, in construction works as well as a natural fiber.

It is a good thing according to market observers that none of the plant’s parts goes unused. MCOA’s business strategy advocates for capitalization at each profit point and that ranges from farm to finished products.

BUSINESS

Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Reports Revenues Of $9.059 Million In Q2 2020

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) has reported revenues of $9.059 million in Q2 2020. It is an increase of 17% when compared to the same period last year. However, its revenues declined from $11.433 million in Q1 2020 because of its transition from a wholesale business to recreational sales. The recreational sales accounted for $5.7 million in Q2 2020.

Implements a new operating structure

Supreme Cannabis has put into operation a new structure that includes a reduction in staff to improve growth and efficiency, profits in the long term. It moves forward to become a premium cannabis CPG company and drives the growth in the near term with its high-quality products and brands in different price segments. The company’s innovative sales model supports the consumer facing-brand portfolio. It distributes products across Canada.

Chief Executive Officer, interim president, and Director of Supreme Cannabis, Colin Moore said the company realigns its structure as well as the expectations considering the current state of the industry. He strongly believes that Supreme Cannabis can drive growth in the near term, derive long term growth and improve profits using its high-quality products and brands in every price segment.

Proud of the progress

Colin is proud of the progress of its team and focuses on revenue drivers in the near term. Supreme Cannabis is well-positioned to expedite CPG focused transition with its proven high-value brands in the recreational market and in-house processing capabilities. It is a licensed producer with cultivation infrastructure.

Supreme Cannabis is successful in Q2 2020 on the backdrop of introducing pre-rolls under the Sugarleaf brand addressing the mid-tier price point. The company will introduce more products soon to provide accessible and convenient experience to the customers. It will enhance its brand portfolio in the remainder of the year to add more revenues and capture market share. Supreme Cannabis achieves revenue growth using its recreational brands. The products introduced under the Sugarleaf and premium 7Acres brands will improve the sales volume.

Expands distribution of 7ACRES Brand

In Q2 2020, Supreme Cannabis has expanded the 7ACRES brand distribution in all the provinces in Canada. It is leveraging the partnership with Humble & Fume Inc and retail sales strategy to address the national revenues.

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BUSINESS

Canopy Rivers, A Subsidiary Of Canopy Rivers Inc (OTCMKTS:CNPOF), Subscribes To 2.38 Million Units Of James E Wagner Cultivation Corp (OTCMKTS:JWCAF)

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Canopy Rivers Inc (OTCMKTS:CNPOF) has announced that Canopy Rivers Corporation (Canopy Rivers) subscribed to 2.38 million units of James E Wagner Cultivation Corp (OTCMKTS:JWCAF). The issue price for each unit is $0.21. Canopy Rivers invested $500,000 in James E Wagner through a private placement. Each unit comprises one-half of one Common Share purchase warrant and one common share in the capital of James E Wagner. Canopy Rivers can acquire one common share using the warrant at $0.275 per share on or before February 6, 2023.

Canopy Rivers holds 16.241 million shares and warrants

Canopy Rivers holds 16.241 million shares and warrants after the completion of the offering. Before this offering, the company held 13.86 million shares and warrants. The subscription is purely on investment basis. However, its decision may change at a later date.

Several developments at portfolio companies

The portfolio companies of Canopy Rivers have made several announcements recently. Chief Executive Officer and President of Canopy Rivers, Narbe Alexandrian, is appointed to the board of directors of National Cannabis Industry Association (NCA), the biggest cannabis trade organization in the US. He will hold the position of Director in NCA until 2022.

High Beauty Inc establishes presence in Canada

On January 30, 2020, High Beauty Inc has established its retail footprint in Canada. The company exhibited its skin care products to a group of influencers, professionals and the media in the beauty and fashion industries at Hudson’s Bay flagship store.

TerrAscend Corp’s two subsidiaries have received the nod for processing and cultivation of cannabis in the US. Also, TerrAscend NJ, LLC received a license in January 2020 from the Department of Health in NJ for the cultivation of cannabis. It is the second company in New Jersey to obtain cultivation permit. The company will extend medical marijuana in the state to meet the growing needs of the patients.

The Utah Department of Agriculture and Food has awarded Medical Cannabis Processor License to TerrAscend Utah, LLC on January 29, 2020. The company will inaugurate a processing facility in Utah.

Canopy Rivers has amended the terms of the $10 million loan to TerrAscend Canada Inc.

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BUSINESS

Health Canada Grants A Cannabis Cultivation License To Sublime Culture Inc, A Subsidiary Of Mym Nutraceuticals Inc (OTCMKTS:MYMMF)

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Health Canada has granted a cannabis cultivation license to Sublime Culture Inc., a subsidiary of Mym Nutraceuticals Inc (OTCMKTS:MYMMF). Sublime will produce high-quality cannabis in small batches at its Laval, Quebec facility.

Highly optimized and sophisticated Laval facility

The Laval facility in Quebec boasts a highly optimized and sophisticated indoor facility to produce high-quality cannabis varieties. It has included a cloning and mothering area to support genetic development and archiving. Chief Executive Officer of MYM, Howard Steinberg, said the company is pleased to receive a cannabis cultivation license for its Laval, Quebec facility. The team at MYM is ready to begin the cultivation of super-premium cannabis on a small scale at its indoor facility.

Closes non-brokered private placement

MYM has closed the non-brokered second tranche private placement. The company has netted the proceeds of $221,005 by issuing 3,683,416 units. Each unit, which comprises one common share purchase warrant and one common share, is priced at $0.06. MYM needs to pay a finder’s fee of $2,664 for this tranche. The warrant holder is entitled to acquire one common share at $0.10 within three years from the date of issue.

The deal is subject to the final nod of the CSE. According to the security laws, MYM has put in a lock-in period of four months.  MYM will use the proceeds for working capital needs. The acceleration provision applies to the warrants. According to this provision, the company can set an expiry date if the average weighted share price is over or equal to $0.20 for the consecutive 10 trading days.

MYM repays the entire loan

MYM has repaid the entire Trichome loan. It maintains a positive cash balance and debt-free. MYM has no further obligations to Trichome Financials on account of this loan. Trichome will support MYM in all its future endeavors. MYM will continue to explore new opportunities and work with Trichome in the future.

Steinberg said the company is focused on opportunistic takeovers. It will remain debt-free and raises the capital for the right opportunities. He said the MYM team will help the companies in the increasingly complex cannabis space in restructuring the management. Chief Executive Officer of Trichome, Michael Ruscetta said the company is pleased that MYM has repaid the loan. He further said the company will support MYM for strategic acquisitions.

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