The Annual General Meeting of Shareholders that was conducted sometime ago had a lot of important matters under discussion. Sunniva Inc (OTCMKTS:SNNVF) has been performing well, but there is need to do more moving forward. Towards the end, a voting exercised was carried out. Its results have been unveiled. The voting process involved shareholders expressing what they wanted by show of hands.
Turn of events
The company’s spokesperson in a recent interview outlined there were plans underway to spin out their Canadian assets. They were to be span in a separate entity in Canada .He said that they ewer hopeful about succeeding at listing their shares with NASDAQ Stock Market.
Aside from that, they were also looking forward to do the same with Toronto Stock Exchange. The Canaccord Genuity Corp is going to be retained. It will be serving the role of financial advisor. A huge deal of its focus will be on strategic initiatives and the Spinout Transaction.
The Spinout Transaction that was proposed is going to cover quite much. In terms of the assets in Canada there will be big names showing up on the list, one of them is Sunniva Medical Inc which intends to set up Sunniva Canada Campus.
Steps made so far
A new two-year agreement has been struck between it and Canopy Growth Corporation. It entails the distribution of Sunniva branded products and the future looks bright. Sunniva is pleased upon learning that Canopy will be buying about 45% of its annual production capacity.
Natural Health Services Ltd is also part of the wide range of assets belonging to this business guru. Currently, it manages a series of clinics in Canada which deal in medical cannabis.
For the Spinout Transaction to reach completion, several conditions must be satisfied. One of them is the CSE approval. The other one is the Sunniva shareholder approval. The fulfillment of these and full compliance with requirements of NASDAQ and TSX are critical.
It is worth noting that all these can’t be guaranteed. Sunniva Shareholders will soon be served with information regarding the spinout transaction through circulars. They will learn more regarding the operations of the management, business plans and financial statements.
CV Sciences Inc (OTCMKTS:CVSI) Navigates Market Storms
Any company that faces the campaign of short sellers experiences hard times; especially the shareholders. In the recent months, CV Sciences Inc (OTCMKTS:CVSI) had a rough battle with the investors which badly bruised the share price. In an Aug. 30, 2018 press statement, the company gave an update to shareholders regarding the situation.
In the update, CV Sciences acknowledges the “malicious” intent of the short sellers. The company CEO, Joseph Dowling further explains that they are victims of “campaigns run by short sellers in order to depress our stock price, so they could make financial windfalls.”
The CEO further details that: “We are also aware that at least one such group has boasted on social media platforms about its financial returns since their release of misleading information regarding the Company’s patent prosecution and drug development efforts.”
In rebuttal, the CEO affirms that the company presents strong financial numbers and that this will go on in future. He adds that there is nothing different with the business model since it is solid. Joseph speaks out so strongly about the “manipulations” and offers his sympathy for the shareholders.
“We will continue to do everything in our control to bring this activity to a halt. In the months ahead, we look forward to reporting our operating results in this fast-growing industry and providing updates on our drug development efforts,” he says.
A product milestone for CV Sciences Inc (OTCMKTS:CVSI)
The run in with the short sellers did not dampen the company’s spirits. In under two weeks, the company announced a great milestone for one of its products. The PlusCBD Oil™ Gold Formula product line acquired the Generally Recognized as Safe (GRAS) status. The status implies successful performance on the safety front. Further, the GRAS status implies the U.S. Food and Drug Administration (FDA) approves of the production and supply of PlusCBD Oil™.
Such a status is important to product sales and consumer confidence in the company. Concurring with the assessment, the CEO says:
“We are committed to building consumer confidence and trust in the safety and quality of our products, supported by scientific evidence.
Tilray (TLRY) Joins Cannabis Sector’s Pause, Which Is Good News For People Who Missed Its July IPO
With the high-flying cannabis sector taking a pause, now is the time for investors to reassess their positions.
A good place to start would be by taking a moment to examine who is guiding cannabis-focused companies. In other words, who is it that is forming a company’s reputation.
Take, for example, high-flying Tilray, Inc. (TLRY). It’s a pioneer in medical cannabis research, cultivation, processing, and distribution. Now it is rapidly staking a strong place in Canada’s soon-to-be legal adult marijuana market.
Looking beyond its world-class research teams, investors will discover Tilray has one of the sector’s most prestigious board of directors.
Tilray’s board includes Rebekah Doop, who is a principal at Google. Then there’s Scotty Greenwood, who was chief of staff sat the U.S. Embassy in Canada, and is now the CEO of the Canadian American Business Council.
Of course, the board itself is not solely responsible for the 400 percent run up since Tilray’s July IPO. Still, it should comfort investors to know Tilray is in such good hands.
Doop and Greenwood are joined on the board by other corporate heavyweights, such as Christine St. Claire, who was a principal and lead audit partner at KPMG; Michael Auerbach, a risk expert who has held senior positions at the Center for American Progress and The Century Foundation, where he concentrated on issues related to U.S. Foreign Policy, National Security, and Conflict Resolution.
Rapid Expansion Into Legalized Pot
Based in British Columbia, Canada, Tilray is global concern. It is the only GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments, and researchers in 11 countries on five continents.
It’s also perfectly positioned in the heart of Canada’s legalized cannabis industry.
The Prince Edward Island Cannabis Management Corporation recently selected a Tilray subsidiary to supply its adult-use cannabis.
The purchase order will allow its wholly owned affiliate, The High Park Company, to supply PEI’s four cannabis stores and online channels with cannabis products. It’s all in anticipation of the launch of the adult-use market on October 17, 2018.
In all, Tilray has signed agreements to supply adult-use cannabis to consumers in seven Canadian provinces and territories, including British Columbia, Manitoba, Nova Scotia, Ontario, Quebec, the Yukon territory, and the Northwest Territories
Its subsidiary, High Park, is Toronto-based, and is led by a team with deep experience in cannabis and global consumer brands.
Tilray established High Park in order to develop, sell, and distribute a broad-based portfolio of adult-use cannabis brands and products. Its portfolio is uniquely crafted and grown by master horticulturists dedicated to sustainable growing practices.
Tilray’s shares were downgraded Northland Capital, which gave “complex valuations” as the basis of its esoteric reasoning. Tilray’s share price shed nearly 11 percent on the news.
But Tilray is a strong company.
It has a partnership to develop medical products with Sandoz Canada, a division of Novartis (NVS). Tilray also has a relationship with Privateer Holdings and marijuana information website Leafly, along with distribution deals with Shoppers Drug Mart, Pharmasave and various Canadian provinces.
It is perfectly posi
PotNetwork Holdings Inc. (OTCMKTS:POTN) Firing On Products Sales Despite Stock Underperformance
PotNetwork Holdings Inc. (OTCMKTS:POTN) has underperformed the industry, depicted by the stock shedding more than 60% in market value. However, the poor run in the market cannot in any way be attributed’ to deteriorating business performance. The company appears to be firing on all cylinders more so on product sales.
$2 Million Record Sales
The company’s wholly owned subsidiary Diamond CBD Inc. is fresh from announcing revenues of over $2 million, which represents an 80% year-over-year growth. The increase also underscores a continued trend that has seen it reach record heights each quarter.
Diamond CBD record-breaking trend continued at the just concluded Las Vegas Champs Show that saw the company generate $300,000 worth of purchase orders. At the event, the company was able to showcase its product line made up of Vape Additives, Liquid Gold Vape Juice and CBD Gummies among many more.
“Diamond CBD has a highly successful history of sales from these key trade shows. Key among them are the CHAMPS Trade Shows which strive to provide the best trade show experience possible by matching exhibitors with buyers from throughout the world,” company in a statement.
PotNetwork Holdings attributes the stellar performance to the unit’s expansion drive that has seen it launch innovative product lines that continue to elicit strong demand in the market. Innovative sales strategies, as well as market diversification, have also worked to the unit’s advantage in generating new sales.
In a bid to protect market share already accrued, PotNetwork Holdings has engaged the services of two national law firms that are to handle intellectual property and regulatory guidance. The law firms should help the company explore trademarks essential for solidifying existing and forthcoming market positions.
Despite the stellar performance on the business execution front, PotNetwork Holdings remains under pressure depicted by share price action. The stock is currently trading near a critical support level at the $0.20 level, below which it could drop further. It remains to be seen if Diamond CBD achievements will help strengthen, investor sentiments in the stock thereby trigger a bounce back from the current lows.
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