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MediPharm Labs Corp’s (OTCMKTS: MEDIF) Australian Subsidiary Receives $330,000 Grant To Automate Packaging Manufacturing

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MediPharm Labs Corp (OTCMKTS: MEDIF) has announced that its Australian subsidiary MediPharm Labs Australia Pty Ltd has received $330,000 as part of the government’s $50 million Manufacturing Modernisation Fund. The funding is part of a significant initiative by the Australian government to support businesses transforming the manufacturing sector and supporting job growth. 

MediPharm Australia receives grant

The subsidiary has received the first portion of the grant, and the company will use the funds to enhance the automation of its manufacturing packaging process and the efficiency of the purification system.  In Q1, the Australian subsidiary made the first shipment to AndrexPharma and STDA and two other customers in Q2. 

MediPharm Labs Asia Pacific CEO Warren Everitt said, “Through the awarding of this grant, the Australian Government has recognised MediPharm Labs as a key player in the Australian cannabis industry and the manufacturing sector. This grant will allow MediPharm Labs to invest in innovation which will boost productivity to accelerate its expansion plans to execute on its global strategy – a great outcome for our Company’s growth trajectory.”

MediPharm to ship cannabis oil to brazil 

Recently MediPharm Labs received approval from Health Canada and ANVISA for the shipment of cannabis oil to Brazil.  The approval allows the company to ship to patients of its partner XLR8, allowing XLR8 to commence medical cannabis research. 

Interim CEO Keith Strachan said, “MediPharm Labs continues to execute our on plan to provide pharmaceutical-grade medical cannabis products to patients around the world. It is with great partners, like XLR8, with local country expertise that we can effectively achieve this goal.”

XLR8 Brazil CEO and Founder Thiago Callado said, “Based on our business pillars, clinical research development is a strategic path to provide substantial clinical evidence to support physicians in making appropriate decisions in patient care and cannabis is a real alternative. Our clinical research follows all national and international ethical standards, demonstrating our responsibility to provide all necessary resources to our patients.”

*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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Medmen Enterprises Inc. (OTCMKTS: MMNF) Announce $100 Million Private Equity Investment And Tilray Inc. (NASDAQ: TLRY) Acquires Stake in MedMen

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Medmen Enterprises Inc. (OTCMKTS: MMNF) has announced that various investors, spearheaded by Serruya Private Equity, will purchase around $100 million worth of its units at $0.24 per unit. 

MedMen to use placement proceeds to expand the operation 

The company will use the $100 million raised from the Private Placement to expand operations in major markets such as Florida, Illinois, California, and Massachusetts and expedite growth opportunities in the US.

MedMen CEO Tom Lynch said, “This US$100 million investment is a game-changer for our Company, strengthening our balance sheet and creating a platform for our future growth. This transaction gives us the flexibility and firepower to match our revenue trajectory to our operational expertise and internationally renowned brand. MedMen 2.0 is here, and we are thrilled to embark on the next stage of our journey.”

Furthermore, the MedMen reported that a team of strategic investors had bought a majority of the notes under its senior secured convertible notes facility from other investors. As a result, the parties agreed to amend and extend the senior secured convertible notes facility. 

Tilray buys interest in MedMen’s amended convertible notes 

Among the investors that bought a stake in the amended convertible Note is Tilray Inc. (NASDAQ: TLRY). Tilray purchases the note originally held by Funds, including Gotham Green Partners LLC. After the legalization of cannabis in the US, Tilray will convert the Notes and exercise the related warrants to gain a significant ownership stake in MedMen. 

Tilray CEO Irwin Simon said, “Backed by accelerating trends towards legalization globally, we are focused on building the world’s leading cannabis-focused consumer branded company with a goal of $4 billion of revenue by the end of our fiscal 2024. The investment we are announcing in MedMen securities today, one of the most recognized brands in the $80 billion U.S. cannabis market, is a critical step towards delivering on our objective as we work to enable Tilray to lead the U.S. market when legalization allows.”

*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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Trulieve Cannabis Corp (OTCMKTS: TCNNF) To Sell Cannabis Clones In Massachusetts and Opens 88th Dispensary In Florida

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Trulieve Cannabis Corp (OTCMKTS: TCNNF) has launched a pilot program to sell its high-quality cannabis clones at the Northampton, MA dispensary as per the state law. This is the maiden market entry for Trulieve, becoming the only MSO to offer home growers with its cannabis clones in the form of top-tier, healthy plants.

Truleive to sell cannabis clones to home growers 

CEO Kim Rivers said, “Trulieve supports home grow initiatives in Massachusetts and we are excited to offer our top-tier genetics to those who would prefer to grow their own cannabis plants at home. We’re delivering on our promise to meet cannabis consumers wherever they are in their level of experience, as well as our commitment to expanding access to the plant as we continue to grow in the Massachusetts market.”

For now, the company is releasing a limited amount of Chocolope Newberry Sativa variety that home growers can order online. 

Trulieve appoints new Chief Technology Officer 

Also, the company has appointed Nilyum Jhala as its New Chief Technology Officer. Jhala previously served as the VP of Global and Digital Technology at Hallmark Cards Inc. He will bring over two decades of digital transformation and tech leadership experience in wholesale and retail markets. 

Rivers commented, “We are thrilled to welcome Nilyum to Trulieve’s executive team. His track record of success in global retail organizations and his expertise in complex systems architecture will support Trulieve’s continued exponential growth, ensure efficiencies across the enterprise as we scale, and enhance the exceptional customer service that Trulieve is known for.”

Trulieve launches 88th dispensary in Florida 

Recently the company announced the opening of its 88th dispensary in Leesburg, Florida. The Leesburg dispensary is the company’s 97th dispensary nationwide, and it will serve patients in Central Florida together with The Villages and Eustis. The location’s opening is part of the company’s commitment to ensure that medical cannabis patients in Florida have access to safe and premium products they can depend on.

*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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Orchid Ventures Inc. (OTCMKTS: ORVRF) Reports Highest Sales In August And Launches PurGuard Tech Platform

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Orchid Ventures Inc. (OTCMKTS: ORVRF) has announced that it attained the highest monthly closed sales in August. The company closed sales of $545,000 in the first 18 days of August, which is the highest since October 2020. 

PurTec sales driving growth 

The sales increases are primarily driven by the sale of PurTec Delivery Systems to cannabis companies across Oregon, Florida, and California. Equally, the company indicates that the launch in California with the new Licensee Gold Flora has been exceptional, and Gold Flora and RYL Distribution are servicing accounts. In addition, its Licensee in Orgon, Tine Trading Company, has been solid with $4 million in sales.

Orchid CEO Corey Mangold said, “Today marks an exciting day for the entire family at Orchid Ventures. It’s been a long year working on a company turnaround and subsequent financing. Now that our sales pipeline is growing significantly and marketing is in full force, we hope to see continued growth towards reaching our goals. The launch of three disruptive platforms, PurCore F1 nano-film technology, PurCore R1 316L Stainless Steel notch technology, and the PurGuard Safety Platform, have positioned us to compete on a global level with all other hardware manufacturers and resellers.”

Orchid launches PurGiard platform 

The company launched its novel new tech platform PurGuard, which Orchid expects to impact minors’ usage of vape products considerably. In addition, the company leverages various technologies to develop an ecosystem for utilization in 510 thread cartridges and POD systems. 

Mangold said, “The PurGuard Platform is a major advancement in consumer safety and protection. It has been our mission from day one, to create the safest electronic cannabis delivery systems in the world, and with this advancement, we believe we have achieved another milestone in this mission. Being a software developer for over 20 years, coming up with software applications and taking them to market has been something I’ve personally excelled at for decades.”

*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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