fbpx
Connect with us

BUSINESS

Medmen Enterprises Inc (OTCMKTS:MMNFF) To Start Production Of Cannabis-Infused Lotions And Topical Sprays In New York

Published

on

Medmen Enterprises Inc (OTCMKTS:MMNFF) is set to start manufacturing and selling of cannabis-infused lotions and topical pain-alleviating sprays in New York. This is after the company secured regulatory approval from the state authorities. The company says it was given the approval by the New York Department of Health.

Targeting deserving customers only

According to the company, they will be seeking to serve thousands of qualified and certified patients in the state. Currently the company has four stores in New York and all of them offer gel caps, tinctures and vaporizer pens. All these come in five different flavors. At the start of this year, MedMen secured approvals from the New York state to start offering ground flower in the form of metered pods.

MedMen is among the 10 companies that have been licensed by the New York state to offer medical marijuana to qualified patients.

Expansion of medical marijuana program in the state

New York has been formulating policies aimed at expanding the use of medical marijuana in the state. Howard Zucker , the state Health Commissioner recently filed emergency regulatory approvals that allow patients to use cannabis as a substitute to opioids. The directive made marijuana readily available to patients on opioids treatment.

The company has cultivation and manufacturing plant in plus four dispensaries spread across the state. Additionally, it has licensed facilities in Nevada and California. Recently, MedMen signed an agreement to acquire all assets belonging to Treadwell Nursery based in Florida. Among the assets acquired are rights to set up 25 stores across the state.

In other news, CFN Media Group a financial media network which is dedicated to the cannabis industry in North America recently highlighted on the various steps that New York is taking so as to have adult use of cannabis legalized. According to the media group, MedMen Enterprise Inc stands to hugely benefit from these initiatives as it is one of the pioneer cannabis companies in the state. New York will join several other states that have already legalized the medical use of marijuana.

BUSINESS

Dosecann Inc, A Subsidiary Of Auxly Cannabis Group Inc (OTCMKTS:CBWTF), Enters A Pact With Lonza Group AG (OTCMKTS:LZAGF) For LEMS Machine And Capsule Filling And LEMS Technology

Published

on

Auxly Cannabis Group Inc (OTCMKTS:CBWTF)’s subsidiary Dosecann Inc has signed a pact with Lonza Group AG (OTCMKTS:LZAGF)’s subsidiary Capsugel Inc. As per the terms of the accord, Dosecann receives rights to use sealing LEMS and capsule filling LEMS technology. The company also gets equipment for capsule sealing and filling besides proprietary liquid filled Licaps capsules of Lonza. Dosecann collaborates with Lonza for new formulations to produce Cannabis capsules.

Lonza’s technology in health applications

Lonza’s technology is used in functional improvements such as odor and taste masking, bioavailability enhancement, controlled/ delayed release, and combination products in nutritional and health applications.

Annual capacity for 200 million capsules

Dosecann will equip its PEI facility with a complete production line having an annual capacity to fill/ seal 200 million Capsugel Licaps capsules. It can provide new compounds having improved functionality.

Dosecann will improve its production and product development capabilities by getting access to patented technologies of Lonza. The company will also use the patented technology to support the differentiated product offerings via possibilities of color and branding and multiple delivery systems. The new technologies of Lonza will enable Dosecann to introduce differentiated and innovative capsule products in different dosages.

President of Auxly, Hugo Alves said the company is thrilled to work with an international leader in encapsulation technology and capsules. He looks forward to develop a fruitful and creative long-term relationship with Capsugel and Lonza. It is the right time for the deal because Auxly is preparing to market derivative products with expected legalization by end of this year.

Auxly focuses marijuana derivatives

Auxly is focusing on marijuana derivatives expansion by end of this year despite widening its net loss. The company has reported revenues of $817,000 CAD in Q1 2019. The company has derived sales of $525,000 CAD from deferred service contracts contributed by KGK Sciences. It has generated balance sales of $292,000 CAD from cannabis flower. The company is holding back the dried flower to produce concentrates, edibles, and topicals expecting legalization by Health Canada by October 2019. Its net loss has widened to $13.8 million CAD in Q1 2019 from $10.5 million CAD in Q1 2018.

Continue Reading

BUSINESS

Real Brands Inc (OTCMKTS:RLBD) Signs An LOI To Purchase Proprietary CBD Formulas From Florida Based Integrative Medicine US

Published

on

Real Brands Inc (OTCMKTS:RLBD) has signed an LOI to buy proprietary CBD formulas of Integrative Medicine US. The formulas comprise ancient Chinese Medicine and Herbal Remedies that are blended CBD, nutrients, and endocannabinoid systems. Following the acquisition, Real Brands will use the formulas in its CBD Pharmacy brand. The company will use the new logo with a Chinese Symbol of healing.

CBD Pharmacy products

The initial product launch of CBD Pharmacy comprise salves, tinctures, balms, powders, and capsules developed to treat pain and promote relaxation, and boost immunity and energy.

Jerry Pearring, Chief Executive Officer of Real Brands, said medicinal herbs, CBD, and vitamins are blended using a proprietary formula to develop innovative medicine by Jonathan M. Fields, the founder of Integrative Medicine. The new products will help to keep the Real Brands in the driver’s seat to create a strong brand for CBD Pharmacy.

According to Pearring, CBD Pharmacy is expected to satisfy the growing consumer demand for hemp derived cannabidiol products. Consumers will also enjoy the benefits of eastern medical therapies.

Jonathan said the recent technological advances helped the company to develop superior medicinal products. Its features include Vegan, 100% Non-GMO, and tested in a third-party lab using cannabidiol. The company developed delivery mechanisms so that customers can get CBD and other ingredients in the right dosage to provide the desired effect for long-time.

Partners with Scot Piercy

Real Brands has partnered with Scot Piercy, a professional athlete, in April 2019. He will act as an ambassador for Real Brands Team and invested in the company last month. Pearring commenting the partnership said the company is excited to announce Scot as an ambassador. The investment shows the belief in the business model of the company and the long-term prospects. Pearring is pleased to welcome Scot on board Real Brands.

Piercy said he is proud to join the team of Real Brands. He studied about Real Brands and provides the support to grow hemp derived cannabidiol brands. Piercy further said it is looking forward to work with the company to introduce unique brands of Real Brands through e-commerce sites and retail channels.

Continue Reading

BUSINESS

Hexo Corp (NYSEAMERICAN:HEXO) Acquisition Of Newstrike Brands Finalized

Published

on

Acquisition now Finalized

Hexo Corp (NYSEAMERICAN:HEXO) has announced that it has completed the acquisition of all of Newstrike Brands’ issued and outstanding securities totaling 558,971, 064 marking the finalization of the acquisition process. The company has also received regulatory approval from relevant authorities including the high court further stamping the deal.

Reportedly, Newstrike Brands’ board of directors voted enthusiastically in favor of the acquisition that saw each of Newstrike’s stock exchanged for 0.06332 of Hexo’s share. Following the completion of the acquisition process, is expected to be delisted from TSX exchange platform as it will now operate under its new owner- Hexo.

Increased Production Space and Capacity

Popular voices in the industry believe that the $263 million acquisition sets Hexo among the industry’s elite. Among the several befits Hexo stands to gain from the acquisition includes additional production space estimated at 470,000 sqft. This is a significant addition to the company’s existing 1.3 million sqft.

With additional growing space comes increased production capacity. It is estimated that Hexo’s annual production capacity will surge from the current 110,000 kilos annually to a whopping 150,000 kilos annually which obviously translates to revenue influx.

Hexo’s CEO, Sebastien St-Louis said that “The combination of these two talented teams, both pioneers in the cannabis industry, will accelerate Hexo’s vision of creating the best cannabis technology company.” He adds that the Hexo is now commencing journey on the next phase of its progress.

The acquisition enhances the company’s solid position in the Canadian cannabis space and opening it up to countless possibilities abroad. The company already announced plans to set up operation in Greece as it seeks to seize the upcoming European market. Plans are also underway to set up operations in South America, the U.S (which is expected to open up fully by 2020), and more other locations.

The company already adjusted its 2020 revenue outlook to an optimistic $400 million. This projection factors in the company’s now bigger size in terms of production capacity and market access considering Hexo now assumes Newstrike’s distribution agreements with strategic partners across 8 Canadian provinces.

Continue Reading
Advertisement
Advertisement
Advertisement






Trending Stories