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Valens Groworks Corp (OTCMKTS:VGWCF) Enters A Pact To Supply 2.2 Million Vape Pens Under BRNT Brand

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Valens Groworks Corp (OTCMKTS:VGWCF) has signed a 2-year supply accord with BRNT Ltd. As per the terms of the deal, Valens would supply 2.2 million vape pens under the brand – BRNT. The company would benefit from revenues of more than $50 million in the first two years of operation. Valens can extend the agreement for another two years extendable every year.

First shipment to begin in Q1 2020

Valens would begin the supply of good quality cannabis extracts, vape pens and filling services across the nation. BRNT is experiencing rapid growth across the nation. It has a presence in the ancillary products segment by offering high quality and premium cannabis accessories through more than 170 stores in Canada. The company is also undertaking global expansion with the help of cannabis extract vaporizers.

Chief Executive Officer of Valens, Tyler Robson, commenting on the deal said the company is excited to bring high quality, differentiated, and concentrate vape products in Canada by collaborating with BRNT. According to Tyler, BRNT registered a remarkable growth in sales. Valence would combine the product development and processing capabilities with the product knowledge and retail experience of BRNT to offer products with a strong appeal to the consumers.

Chief Executive Officer of BRNT, Simon Grigenas, said Valens demonstrated its capability to deliver high-quality cannabis extraction on an International scale. He said the accord with Valens is a natural fit for the company’s endeavor to launch Made By vaporizers to the life.

Valence posts robust growth

Valence has registered a growth of 87.1% since Q2 2019 and posted revenues of $16.5 million in Q3 2019. Tyler said the robust growth over the past two quarters is on the backdrop of scaling up extraction operations and rolling out a business plan. He further said excellent growth in Q3 demonstrates its ability to offer good quality products and cutting edge technical capabilities. As the company focuses on increased volumes and efficiencies, the future quarters expect to offer improved margins.

Operational highlights

Valence processed 26,625 kgs of hemp biomass and dried cannabis in Q3 2019. It is an increase of 212% than in the previous quarter.

Valence signed an accord with Shoppers Drug Mart to supply cannabis oil products.

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Sugarmade Inc. (OTCMKTS:SGMD) Announce Acquisition Of Budcars Cannabis Delivery Service And Expansion Plans

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Sugarmade Inc. (OTCMKTS:SGMD) has announced statements from its CEO Jimmy Chan regarding its growth strategy in the California marijuana market. This comes days after the company announced the closing of a deal for the acquisition of Budcars Cannabis Delivery Service.

Sugarmade to capitalize on growing cannabis market in California

The CEO indicated that the California cannabis marketplace is rapidly changing with new investments and opening of more opportunities as public acceptance increase. Chan added that the cannabis sector has moved past the initial growth stage following the intensification of the crackdown on the illegal operators. There is significant promise in various sectors whose prospects have looked bleak in recent months. It is these areas that Sugarmade is targeting its investment activities.

Chan confirmed that the company sees massive prospects in the delivery services, manufacturing through co-branding as well as careful genetic cultivation. Sugarmade’s growth strategy focuses on being selective as well as targeting the best opportunities in the cannabis industry going to 2020.

The company recently announced an agreement to acquire a stake in Indigo Dye Group Corp-owned Budcars Cannabis Delivery Service. Sugarmade plans to acquire a 40% stake in Budcars for around $700,00 with an option to acquire another 30% interest. This will give the company a controlling interest in the Sacramento based company.

Sugarmade’s expansion plans

With the acquisition, the company plans to expand the delivery of Budcars beyond the Sacramento metropolitan area. They will achieve this through direct expansion as well as a strategic acquisition. Equally, the company plans to acquire and invest in ownership interest in other delivery services in Northern and Southern California. According to the company’s estimates, the regions have potential revenue of between $15 million and $20 million per year.

Similarly, Sugarmade has indicated that it has identified various cultivation operations they can invest in, and it is in talks with some operators over the same. At the same time, the company has begun working with tech innovators on various cannabis products, especially those with lesser-known cannabinoids. Sugarmade will introduce innovations into the market later this year.

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Reports Revenues Of $9.059 Million In Q2 2020

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) has reported revenues of $9.059 million in Q2 2020. It is an increase of 17% when compared to the same period last year. However, its revenues declined from $11.433 million in Q1 2020 because of its transition from a wholesale business to recreational sales. The recreational sales accounted for $5.7 million in Q2 2020.

Implements a new operating structure

Supreme Cannabis has put into operation a new structure that includes a reduction in staff to improve growth and efficiency, profits in the long term. It moves forward to become a premium cannabis CPG company and drives the growth in the near term with its high-quality products and brands in different price segments. The company’s innovative sales model supports the consumer facing-brand portfolio. It distributes products across Canada.

Chief Executive Officer, interim president, and Director of Supreme Cannabis, Colin Moore said the company realigns its structure as well as the expectations considering the current state of the industry. He strongly believes that Supreme Cannabis can drive growth in the near term, derive long term growth and improve profits using its high-quality products and brands in every price segment.

Proud of the progress

Colin is proud of the progress of its team and focuses on revenue drivers in the near term. Supreme Cannabis is well-positioned to expedite CPG focused transition with its proven high-value brands in the recreational market and in-house processing capabilities. It is a licensed producer with cultivation infrastructure.

Supreme Cannabis is successful in Q2 2020 on the backdrop of introducing pre-rolls under the Sugarleaf brand addressing the mid-tier price point. The company will introduce more products soon to provide accessible and convenient experience to the customers. It will enhance its brand portfolio in the remainder of the year to add more revenues and capture market share. Supreme Cannabis achieves revenue growth using its recreational brands. The products introduced under the Sugarleaf and premium 7Acres brands will improve the sales volume.

Expands distribution of 7ACRES Brand

In Q2 2020, Supreme Cannabis has expanded the 7ACRES brand distribution in all the provinces in Canada. It is leveraging the partnership with Humble & Fume Inc and retail sales strategy to address the national revenues.

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Canopy Rivers, A Subsidiary Of Canopy Rivers Inc (OTCMKTS:CNPOF), Subscribes To 2.38 Million Units Of James E Wagner Cultivation Corp (OTCMKTS:JWCAF)

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Canopy Rivers Inc (OTCMKTS:CNPOF) has announced that Canopy Rivers Corporation (Canopy Rivers) subscribed to 2.38 million units of James E Wagner Cultivation Corp (OTCMKTS:JWCAF). The issue price for each unit is $0.21. Canopy Rivers invested $500,000 in James E Wagner through a private placement. Each unit comprises one-half of one Common Share purchase warrant and one common share in the capital of James E Wagner. Canopy Rivers can acquire one common share using the warrant at $0.275 per share on or before February 6, 2023.

Canopy Rivers holds 16.241 million shares and warrants

Canopy Rivers holds 16.241 million shares and warrants after the completion of the offering. Before this offering, the company held 13.86 million shares and warrants. The subscription is purely on investment basis. However, its decision may change at a later date.

Several developments at portfolio companies

The portfolio companies of Canopy Rivers have made several announcements recently. Chief Executive Officer and President of Canopy Rivers, Narbe Alexandrian, is appointed to the board of directors of National Cannabis Industry Association (NCA), the biggest cannabis trade organization in the US. He will hold the position of Director in NCA until 2022.

High Beauty Inc establishes presence in Canada

On January 30, 2020, High Beauty Inc has established its retail footprint in Canada. The company exhibited its skin care products to a group of influencers, professionals and the media in the beauty and fashion industries at Hudson’s Bay flagship store.

TerrAscend Corp’s two subsidiaries have received the nod for processing and cultivation of cannabis in the US. Also, TerrAscend NJ, LLC received a license in January 2020 from the Department of Health in NJ for the cultivation of cannabis. It is the second company in New Jersey to obtain cultivation permit. The company will extend medical marijuana in the state to meet the growing needs of the patients.

The Utah Department of Agriculture and Food has awarded Medical Cannabis Processor License to TerrAscend Utah, LLC on January 29, 2020. The company will inaugurate a processing facility in Utah.

Canopy Rivers has amended the terms of the $10 million loan to TerrAscend Canada Inc.

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