Connect with us

BUSINESS

Sunniva Inc (OTCMKTS:SNNVF) Reveals Plans To Spin Out And List Canadian Assets On Two Major Exchanges

Published

on

The plans to spin out the Canadian assets of Sunniva Inc (OTCMKTS:SNNVF) have been supported by a majority of this company’s board members. Anytime soon this business guru might move ahead with the plan to spin them out into a separate entity.

The listing of shares

Listing of its shares on the NASDAQ Stock Market and Toronto Stock Exchange is the other thing and an application has been filed already. Sunniva Inc hopes to succeed at unlocking the underlying value of its massive Assets.

Canaccord Genuity Corp has been retained and the goal is for it to serve as the company’s financial advisor in line with a series of strategic initiatives and Spinout Transactions. An official working with it has made an important revelation.

It is about the plan by Sunniva Medical Inc to establish the Sunniva Canada Campus. The take or pay supply agreement with Canopy Growth Corporation is a major step forward for SMI which is looking forward to achieve immense business success in the near future.

The turn of events

The stipulations of the initial two-year agreement are quite elaborate in nature. One outstanding aspect is about Canopy’s plan to buy about 45% of the annual production capacity of Sunniva.

For the Spinout Transaction to reach completion, a number of conditions will need to be fulfilled. One of them will be for a majority of shareholders to support the initiative. The others will be fulfillment of listing requirements of NASDAQ and TSX exchanges as well as the CSE approval.

It is worth noting that none of the above can be assured as per this moment in time. Anytime soon shareholders of Sunniva will be presented with information circulars to enlighten them more regarding the Spinout Transaction. They will understand more about the business plans for each the entities as well as the undertakings and plans of the management.

CP Logistics is a wholly-owned subsidiary Sunniva and reports indicate that it is signing a cannabis concentrate extraction services agreement with Pure Applied Sciences, Inc. The current CEO of Cannabis Strategic is called Simon Yu and he is pleased about the selection of Sunniva. That is because of its great emphasis on the creation of a wide range of products for major brands.

Continue Reading
Advertisement

BUSINESS

Zogenix, Inc. (NASDAQ:ZGNX) Fails To Produce Impressive Reductions In Seizures With Its Clinical Trial Drug Fintepla

Published

on

Zogenix, Inc. (NASDAQ:ZGNX) has reported positive results for its drug – Fintepla during the clinical trial to treat Lennox-Gastaut syndrome. However, the drug failed to produce impressive results when compared to a placebo. Fintepla could reduce seizures by 26.5% when compared to a reduction of 7.8% in patients, who are administered a placebo.

Epidiolex produces impressive results

GW Pharmaceutical’s Epidiolex, cannabidiol derived from cannabis, helped to reduce seizures by 44% and 42% during two clinical trials. It has got the nod of the US FDA to cure patients suffering from Lennox-Gastaut syndrome. According to the results obtained from clinical trials, Epidiolux provides better results when compared to Fintepla.

Shares of GW Pharmaceuticals inches up

The shares of GW Pharmaceuticals have surged by 7% on February 7, 2020, on the news of its rival failed to produce not so impressive results. Zogenix shares have declined by 37% on February 7, 2020, because it failed to beat the results of Epidiolex in curing Lennox-Gastaut syndrome.

Fintepla offers better results in curing Dravet Syndrome

Zogenix has tested Fintepla in treating childhood epilepsy – Dravet Syndrome. A higher dosage of the drug helped to reduce monthly convulsion seizures by over 60% in two clinical trials. It submitted the results to the US FDA and expects to receive approval on March 25, 2020.

Mark Goodman, an analyst at SVB Leerink, said expectations of thee investors on the drug’s effectiveness in reducing the seizures in patients suffering from Lennox-Gastaut syndrome are higher. However, the drug failed to meet their expectations. He expects that peak sales of the drug in the US would decline to $700 million from the previous projection of $1 billion.

Mark said seizures reductions through the administration of Fintepla are in line with the results of other approved drugs that include Epidiolux of GW Pharmaceuticals. But, its results are less robust when compared to Epidiolux.

Zogenix has reported revenues of $0.63 million in Q3 2019. It has missed the Zacks Consensus expectations by 42.73%.

Zogenix acquired Modis Therapeutics, a privately held company, in a deal valued at $250 million. Modis Therapeutics focuses on the development of drugs for the treatment of rare genetic diseases.

Continue Reading

BUSINESS

Project 7 Group LLC of U.S.A Agrees To Sell And Promote CBD And CBG Enriched Hemp Seeds Of Maple Leaf Green World Inc (OTCMKTS:MGWFF)

Published

on

Maple Leaf Green World Inc (OTCMKTS:MGWFF) has entered a pact with Project 7 Group LLC of USA to sell and promote its CBD and CBD enriched hemp seeds. The first-year sales target is set at $10 million (minimum). It can be renewed every year.

Welcomes Project 7 Group

Maple Leaf is pleased to welcome the team of Project 7 Group. It expects that Project 7 Group will improve global and domestic sales significantly. The privately held company – Project 7 Group operates with its offices situated in California, Washington, Nevada, New Mexico, Texas, Colorado, Arizona, and Wyoming. It specializes in hemp and cannabis financing, sourcing of seed and clone genetics, sales of raw hemp and concentrates, CBD extraction, CBD product manufacturing, and CBD product formulation. The company has a dedicated team to ensure the best project outcomes.

Receives hemp seed cultivation license

Maple Leaf received the hemp seed cultivation license on December 3, 2019, for CBD enriched hemp. It will also cultivate CBG (Cannabigerol) enriched hemp seeds. The non-psychoactive cannabinoid – CBG offers great potential to provide medical relief for the ailments that cannot be cured with CBD.

Commences greenhouse expansion in CA

Maple Leaf has commenced the Greenhouse expansion in California. It is renovating the two existing greenhouses on its 20-acre site located in Riverside County, California. The company expects to complete the renovation in mid-February 2020. It expects to commence cultivation soon.

Maple Leaf is in discussions with several overseas and North American buyers to sell its CBG enriched hemp. The company already signed a letter of intent with Lin International, which is based in Singapore last year. Maple Leaf will supply feminized hemp seeds to hemp projects in South East Asia. Lin International expects to obtain hemp cultivation licenses for its land of 500 hectares in Lao People’s Democratic Republic. It is exploring opportunities in other Southeast Asian nations.

Maple Leaf is expanding the greenhouses to an additional 1,000 Sq. Ft. to meet the growing demand for CBG enriched hemp. The company’s growing capacity will increase to 7,000 Sq. Ft. Maple Leaf also years to acquire two to four greenhouses anticipating the supply contracts.

Continue Reading

BUSINESS

Neutra Corp (OTCMKTS:NTRR) Aims To Become A Vertically Integrated Producer And Distributor Of Hemp Derived CBD Health Products With Fresh Private Equity

Published

on

Neutra Corp (OTCMKTS:NTRR) is planning to support its vertical integration campaign with the fresh round of private equity. It will use the funds to become a vertically integrated producer and distributor of the hemp-derived CBD health products.

Private equity to support accomplishments in 2020

Chief Executive Officer of Neutra, Sydney Jim, said the private equity received on January 1, 2020, is a welcome sign for the company to strengthen its long term position and compete and achieve success. The company will use the funds to pursue its goals and strategies. It enjoyed successful 2019 and hopes to maintain better accomplishments in 2020 with the fresh round of private equity.

CBD offers a variety of medical benefits

The multi-purpose and natural hemp compound offers a variety of medical benefits. According to the feedback from users, it offers relief from reduced effects of seizures, anxiety, and slows down in neurodegenerative disorders. It also provides relief from pain and alleviates the side effects of certain cancer treatments. Users do not suffer from any form of addiction.

The market for hemp-derived products expects to touch $22 billion by the year 2022. It is on the backdrop of improved health benefits enjoyed by the users of CBD. The sales of CBD last year are $390 million.

Neutra gets a boost from TDA’s administrative rules

Neutra is almost closer to realize its dream of becoming a vertically integrated company because the administrative rules framed by the Texas administration regarding the production of hemp are public comments stage. On adoption of these rules, the Texas Administration (TDA) still needs to get the nod of USDA (the US Department of Agriculture) to issue licenses for growing hemp.

TDA expects to process the license applications in H1 2020. Neutra will grow its hemp on receipt of the license. The company will use the grown hemp for the production of CBD products and distribute them under one roof. Sydney said it is a big development. The demand for hemp-derived CBD products in Texas is huge. It is economical to produce hemp in the state. The company will also benefit from logistics.  Combined gives Neutra a solid footprint in the southern US.

Continue Reading



Trending Stories