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Medmen Enterprises Inc (OTCMKTS:MMNFF) Files Short Form Final Prospects for C$75,000,000 Worth Bought Deal Financing

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Medmen Enterprises Inc (OTCMKTS:MMNFF) has filed for the final short-term prospectus to close the previously announced bought deal financing worth C$75 million led by the underwriters Cormark Securities Inc and Eight Capital. The deal involves the offering of 13.6 million units at the unit price of C$5.5.

The deal includes one class B subordinate share and one half of the one purchase warrant. The underwriters have an option to acquire additional 2,045,454 Units within thirty days after the close of the deal. If this option is exercised, the company is expected to mobilize funds of C$11,250,000.

The company will use the net proceeds for the expansion of the retail network, developing production and cultivation facilities. Medmen Enterprises will also use a portion of the funds for working capital and corporate purposes. The deal is expected to be completed on or before September 27, 2018.

Medmen Enterprises Inc Signs An Exclusive Licensing Accord with Woodstock Cannabis Company

Medmen Enterprises Inc has entered into an exclusive license agreement with Woodstock Cannabis Company to use the brand name of iconic Woodstock for cannabis products. The company will produce and sell the Woodstock brand cannabis products in Florida, Arizona, Illinois, Massachusetts, California, and Nevada.

The accord also allows Medmen Enterprises to sell the cannabis products to other 3rd party retailers in the above mentioned six states. The company can also promote the premium cannabis products at the music festivals as well as promotions of Woodstock.

Sales of legalized marijuana Expect to reach More than $20 Billion by 2022

Medmen Enterprises is making an upmove on higher volumes in the recent weeks. The sales of legalized marijuana are expected to reach over $20 billion by the year 2022.

Medmen Enterprises Announces Securing of Prime Retail Locations in West Palm Beach, Miami Beach

Medmen Enterprises has secured the prime retail locations in St. Petersburg, Miami Beach, Ft. Lauderdale, and Key West. Florida offers the most promising growth for medical cannabis and adult use cannabis. The sales of medical cannabis are expected to reach US$1.4 billion by the year 2021.

The company also acquired dispensary/ cultivation license as well as the related assets of Treadwell Simpson Partnership and affiliates based in Florida.

BUSINESS

Amfil Technologies Inc. (OTCMKTS:FUNN) Provides Updates On Reopening Snakes & Lattes Locations And Safety Measures Implemented

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Amfil Technologies Inc. (OTCMKTS:FUNN) has provided updates to shareholders regarding the Snakes & Lattes subsidiary and location reopening as well as the new safety procedures the company has implemented.

Following government regulations on combating the spread of COVID 19, the company had temporarily closed its physical Snakes & Lattes outlets in Ontario and Toronto as well as the fourth location in Tempe, Arizona. This was to combat the spread of the virus and protect customers and employees.

Amfil to reopen Snakes & Lattes Arizona

The company is now gearing up to reopen the Snakes & Lattes Tempe, Arizona location after restrictions in the state were lifted. On May 11, 2020, authorities in the state gave restaurants the go-ahead for their reopening, and the company is also preparing to reopen the location in Arizona, and employees have been trained on new safety procedures and protocols. Amfil indicated that from their observation, there has been incredible attendance at local locations, which has given the company confidence to move forward with the reopening.

Amfil told shareholders that they are expecting to reopen Toronto locations later this month, depending on the government’s authorization. During the period when the company had shuttered its locations temporarily, it received assistance from the US government through the PPP program and from the Canadian government through CEBA, and they expect more.

Amfil enhances safety protocols

According to the infection prevention and control measures (IPC), Amfil has a three-phased approach to opening for minimizing risk to customers and employees, exercising caution, and combating the spread of coronavirus. The phases include the first phase, which will be for delivery and takeout services only; the second phase will be opening for regular business but fewer hours and the final phase will be opening fully for business.

In all the phases, the company has included cleaning as well as sanitization measures and protocols. Also, the company will have more staff helping in cleaning protocols and increasing frequency of cleaning traffic areas like entrances, restrooms, and checkout counters heavily.

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Orchid Ventures Inc. (OTCMKTS:ORVRF) Signs Licensing Agreement Of Licensing Orchid Brand In Various States

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Orchid Ventures Inc. (OTCMKTS:ORVRF) has announced the signing of a License Agreement for licensing its Oregon-based Orchid Essential Brand.

Orchid Ventures to sell Orchid Essential s distribution license in Oregon

As part of the transaction, the company will sell the OLCC distribution license issued to the Orchid Essentials facility located in Clackamas, Oregon. It includes the sale of rights for expansion to Oklahoma and Colorado but under a different agreement at a later date. The company buying the license will conduct its business under Orchid LLC, but ownership will be under Tine Trading Company, LLC.

An experienced management team leads the companies for a portfolio of vertically integrated, multi-state companies boasting of more than 10 years in manufacturing, cultivation as well as in retail dispensaries. Most importantly, the new leadership brings more than 30 years in the supply chain, manufacturing, and sales experience in the CPG and Food Service industry.

Following the signing of the agreement, it is expected that Orechid LLC will assume distribution and operational responsibilities in the state of Oregon within 45 days. In the coming month, Orchid will complete a development plan for production and introduction of Orchid Essential products in other states.

Orchid to receive $630,000 for the acquisition of Orchid Essentials

Tine Trading Company will pay Orchid a sum of $630,000 to purchase Orchid’s revenue and inventory at an Oregon facility as well as expansion rights to Oklahoma and Colorado. The payment will also include the opportunity of securing license rights for Orchid Essentials on other states. Orchid will receive license fees on the Orchid Essential sales for a ten-year term from Orechid, which will also acquire all packaging and vaporizer hardware through PurTec Delivery as part of the licensing deal.

Orchid CEO Corey Mangold indicated that this is a massive move in changing the Orchid Essentials’ business strategy l to a licensing model. He added that the chance to partner with Tine will give the company a way of establishing its licensing terms and infrastructure to expand their brand platform.

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Mountain High Acquisitions Corp (OTCMKTS:MYHI) Completes Acquisition of GPS Associates

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Mountain High Acquisitions Corp (OTCMKTS:MYHI) has announced the completion of the acquisition of California-based GPS Associates Inc. GPS is a company that engages in the manufacture, formulation as well as distribution of CBD hemp products to its Santa Ana-based cGMP facility.

GPS produces various CBD formulations

The company comprises of top professionals that include herbalists, botanists, and chemists that are dedicated to combining premium organic CBD with other synergistic organic herbs to produce the high-quality pure product. GPS ensures that their products are tested to ascertain their purity and potency through third-party laboratories.

The CBD market is full of potential, and analysts indicate that by 2024 it will hit $20 billion sales. This is because there are several CBD applications in the market from various segments such as health products, cosmetics, pet products, pharmaceuticals, food, and beverages, as well as skincare.

Acquisition of GPS to help Mountain High succeed in CBD space

The company’s CEO Alan Smith indicated that there is massive potential in the CBD industry. He added that they expect demand for CBD products to increase, especially due to the stresses resulting from the coronavirus pandemic, thus creating accelerated growth.

For the company to be successful in the space, it has to have the right staff in terms of expertise, experience, and capital for differentiation, diversification, and distribution of products. Smith added that he is optimistic that the business combination with GPS will offer that winning formula in the fast-growing industry.

GPS’s fast-expanding product portfolio is distributed online, and the retail brand name of Zen Drops. It is also distributed via white label customers across the country. Paul Gaudreau, the CEO of GPS, stated that they believe in combining the power of organic herbs and hemp CBD in their formulations can optimize results. He added that the GPS team is currently developing new formulations as well as delivery systems. Gaudreau said that with the backing of Mountain High Acquisitions, they expect to diversify their product portfolio and enhance distribution.

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