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Namaste Technologies Inc (OTCMKTS:NXTTF) Releases Details Of Its 019 Annual Shareholder Meeting

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Namaste Technologies Inc (OTCMKTS:NXTTF) recently disclosed the results of this year’s Annual Shareholder Meeting which took place in Toronto, Ontario on June 25.

The announcement revealed that shareholders gave the go-ahead for Baker Tilly WM LLP to be appointed as Namaste Technologies’ auditors. The vote was a majority rule as 98% of the shareholders that voted were in favor of the appointment. The shareholders also greenlit the appointment of five nominated directors.

The shareholders also voted in favor of the continued exercise of Namaste’s stock option plan. 98% of the shareholders believe that it is a good idea to have a stock option plan. The directors that the shareholders elected include Laurens Feenstra, Kenneth Jones, Kenneth Ngo, Branden Spikes, and Andrew Wilczynski. The company has also published the details of the Annual Shareholder Meeting on its website.

Namaste Technologies pushes aggressively towards becoming a leading cannabis marketplace

Namaste announced late last month that it managed to secure a supply and purchase deal with True Leaf Brands Inc. The agreement will facilitate the marketing and distribution of pet supplements that are hemp-based through the CannMart.com online marketplace.

“We’re building a technologically exciting marketplace for the adult-use cannabis market where we can reimagine the experience and product offering available to both our customers and vendors,” stated Namaste’s interim CEO Meni Morim.

Morim also noted that a partnership with one of the major brands such as True Leaf presents a great avenue for Namaste to improve its consumer products so that it can boost its vendor experience. He also added that the company is working towards creating the most user-friendly and innovative marketplace.

True Leaf CEO Darcy Bomford noted that hemp-based pet supplements represent an exciting new product line for Namaste customers. True Leaf also plans to launch a CBD-based product line for pets that will be sold in Canada and other markets.

True Leaf is also joining the list of companies that donate part of their profits from its first month of sales. The donations will be made to animal rescue shelters. True Leaf products are expected to launch on CannMart.com in Q3 2019.

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Innovative Industrial Properties Inc (NYSE:IIPR) Reports A Growth Of 183% YoY In Q2 2020 Revenues

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Innovative Industrial Properties Inc (NYSE:IIPR) posted an increase of 183% YoY to $24.3 million in Q2 2020. The shareholders received a 77% YoY increase in dividend at $1.06 for each share on July 15, 2020.

Raises $114.9 million

Innovative Industrial raised funds of $114.9 million through a public offering of 1.550 million common shares. The underwriters can also acquire additional 202259 shares. After Q2 2020, the company mobilized an additional $258.7 million by issuing 3.085 million common shares. It also provided an option for underwriters to buy additional 402,504 shares.

Acquires 8 properties

Beginning April 1, 2020, Innovative Industrial purchased 8 properties spanning 775,000 Sq. Ft. (rentable) based in Pennsylvania, New Jersey, Massachusetts, California, and Michigan for $191.5 million.

Tenant relationships

Innovative Industrial expanded prevailing tenant relationships with Holistic Industries Inc., Cresco Labs Inc., Ascend Wellness Holdings Inc., and Kings Garden Inc following the purchase of new properties. The company also formed new tenant relationships with Curaleaf Holdings Inc. and Columbia Care Inc. Innovative Industrial, the real estate company, invested $1.1 billion for tenant improvements as of August 5, 2020.

Purchases property in New Jersey

Innovative Industrial purchased a Blue Anchor, New Jersey-based property, which comprises 111,000 Sq. Ft. industrial space, for $5.5 million. The company signed a triple-net, long term lease agreement with Curaleaf’s subsidiary for the property. Curaleaf will use this space for medical cannabis processing and cultivation.

Curaleaf will make improvements to the property. Innovative Industrial will reimburse up to $29.5 million to Curaleaf for tenant improvements. Therefore, the total investment of Innovative Industrial for this property is $35 million.

Collections from rent

Innovative Industrial deferred rental collection for three tenants for May and June 2020 during coronavirus crises. It received rent in full in July 2020 from these three tenants. It netted 100% of the contractual rent for April, May, and June 2020, excluding from tenants based in LA, California property.

Innovative Industrial holds 61 properties as of August 5, 2020, in several locations that comprise Minnesota, New York, New Jersey, Michigan, Maryland, California, Arizona, Ohio, North Dakota, and Florida. The total rentable area from these properties is 4.5 million Sq. Ft.

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GW Pharmaceuticals PLC (NASDAQ:GWPH) Reports A Growth Of 68.4% In Q2 2020 Revenues: Epidiolex Oral Solution Receives The Nod Of FDA To Treat Seizures

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GW Pharmaceuticals PLC (NASDAQ:GWPH) posted a growth of 68.4% YoY to $121.3 million in revenues in Q2 2020. CEO of GW Pharmaceuticals, Justin Gover, said the company posted impressive sales of Epidiolex in the US despite ongoing COVID-19 pandemic. The recent approval for Epidiolex to treat seizures related to TSC provided an excellent opportunity for GW Pharmaceuticals to expedite growth in H2 2020 and beyond.

Excellent prospects for product line

Nabiximols of GW Pharmaceuticals has excellent growth prospects to treat spasticity in patients suffering from MS and other health problems. The company will commence Phase 3 clinical study of nabiximols and trials of its other candidates in H2 2020.

Highlights

Epidiolex generated total net sales of $117.7 million in Q2 2020. Its net sales in the US are $111.1 million. The FDA (Food and Drug Administration) approved Epidiolex for TSC indication. GW Pharmaceuticals expects to commercialize the product in August 2020.

Reimbursement and pricing for Epidiolex in Germany, Italy, and France are underway. GW Pharmaceuticals will initiate a Phase 3 clinical trial of this innovative product for Rett Syndrome in H2 2020.

GW Pharmaceuticals completed Phase 3 clinical trials for Nabiximols for patients with MS spasticity in nations outside the US. It will commence new Phase 3 clinical trials for this innovative formulation in patients suffering from MS Spasticity in the second half of 2020 and the first half of 2021 to get eligibility for NDA submission.

GW Pharmaceuticals will conduct Phase 3 clinical trials of nabiximols for SCI (Spinal cord injury) spasticity this year and next year. It will begin the clinical observation trial in Q4 2020.

Oral solution – Epidiolex receives FDA nod for seizures cure

The cannabis-based Epidiolex, an oral solution, received the nod of the US FDA to cure seizures related to TSC (Tuberous Sclerosis Complex). It is recommended for persons aged one year and above.

Cannabis-derived medicine can be used for patients aged one year and more to treat seizures associated with Dravet Syndrome or LGS (Lennox-Gastaut syndrome).

The rare disease TSC can lead to the growth of benign tumors in important organs of humans and could cause genetic epilepsy.

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Sunniva Inc (OTCMKTS:SNNVF) Clinches A Deal To Net CAD 3.2 Million From The Sale of Okanagan Falls Property

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1167025 B.C. Ltd, a subsidiary of Sunniva Inc (OTCMKTS:SNNVF), entered a pact to sell its Okanagan Falls Property for CAD 6.8 million. The net proceeds of the deal for Sunniva will be CAD 3.2 million after discharging the mortgage and other related closing costs to the buyer. Sunniva expects to close the deal on or before August 10, 2020.

After the sale of the Okanagan Falls property, Sunniva will retain the ownership of 1167025 B.C. Ltd, and the assets currently exist on the site.

Sales of branded cannabis products

Sunniva engages in the sale of branded cannabis products through its subsidiaries in California and Canada. The company targets to become a vertically integrated cannabis manufacturer by developing cGMP designed greenhouses. It also scouts for expanding its retail locations and provide cannabis products, which are free from pesticides.

Valens gets CAD 40 million from the credit facility

Valens Company Inc. (OTCMKTS: VLNCF) entered a pact to mobilize funds of CAD 40 million (CAD 20 million as short term loan and another CAD 20 million as a revolving loan) from a syndicated credit facility. Canadian IBC (Imperial Bank of Commerce) and ATB Financial will act as the co-lead arrangers for the credit facility.

CEO of Valens, Tyler Robson, said the company has sufficient funds, but additional funding will help it strengthen its financial flexibility and reduce the average cost of the capital. The company will expand its product line and develop a customized production platform. It scouts for exploring opportunities in the Canadian market and provide higher returns on investment for the shareholders.

The company’s annual capacity of hemp biomass and dried cannabis is 425,000 Kg at its Kelowna, British Colombia based purpose-built facility. It initiated steps to become a GMP compliant manufacturing company.

The product line of Valens

The product portfolio of Valens includes soft gels, tinctures, vape pens, oral sprays, two-piece caps, beverages, and natural health products.

Health benefits of CBD beverages

CBD, aka cannabidiol, is derived from cannabis for medicinal use. It doesn’t comprise any psychoactive properties. Cannabis-infused drinks are gaining popularity day by day. CBD beverages are free from calories and sugar and provide health benefits like sound sleep, relief from inflammation, pain relief, and stress relief. Cannabidiol helps to manage heart diseases, cancer, and chronic pain.

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