WeedMD Inc (OTCMKTS:WDDMF) harvested cannabis outdoor crop on 27 acres at Strathroy facility, Ontario. It has to undergo processing and curing to eliminate harsh compounds and excessive moisture while retaining cannabinoids and terpenes. The company plans to harvest premium quality cannabis on 200 acres next year.
Enters commercial extraction operations
WeedMD has commenced the commercial extraction operation at the Aylmer facility. Health Canada awarded a license to allow WeedMD to manufacture and market topicals, edibles, and cannabis concentrates.
Chief Executive Officer of WeedMD, Keith Merker, said the company achieved a milestone by completing the outdoor harvest. Sitting with large amounts of cannabis, WeedMD sells the dried and other forms of cannabis in value-added formats in the coming days and quarters. It will emerge as a leader in the sale and production of cannabis extracts under economical production of the dried flower, and extraction business at the Aylmer facility.
CX Industries, a wholly-owned subsidiary of WeedMD, is capable to process 26,000 kgs of biomass every year with the recently commissioned extractor. The company will install the second Q-90 extractor rated for high throughput efficiency of CO2 in December 2019. It will install another two extractors next year. The annual extraction capacity at CX Industries would be 200,000 kgs of biomass. CX Industries and WeedMD would introduce innovative cannabis 2.0 products in January 2020 for Canadian customers.
Data-driven efficiency and transparency
WeedMD is added to the subscriber base of Strainprint Technologies. The company operates a 158-acre outdoor and greenhouse facility situated in Ontario. The annual production capacity of the greenhouse of WeedMD is over 20,000 kgs. The company also harvests an additional 20,000 kg of biomass at its Strathroy based outdoor cultivation platform that is based on 27 acres.
Senior Vice President (Marketing and Sales) of WeedMD, the main aim of working with Strainpoint is to ensure data-driven efficiency and transparency in the cannabis industry. It leverages the technology of Strainprint to bring high-quality cannabis products to the market.
WeedMD would announce Q3 results on November 28, 2019. CEO would host a conference call to discuss earnings at 10 AM on the same day.
CLS Holdings USA Inc (OTCMKTS:CLSH) Posts Revenues Of More Than $2 Million In March 2021
CLS Holdings USA Inc (OTCMKTS:CLSH) posted revenues of more than $2 million (up 92% YoY) from its subsidiaries based in Nevada in March 2021.
The company reported the highest revenues in its history in a single month from its retail and wholesale subsidiaries. Its margins also rose by 48%.
Oasis Cannabis, a retail subsidiary of CLS Holdings, reported growth of 100.3% YoY in March 2021 to more than $90,358 in revenues. Its average order size rose by 31.2%, together with a 51.2% increase number of transactions.
City Trees, the branded wholesale division of CLS Holdings, recorded a growth of 70.5% YoY in March 2021 to $502,140 in revenues. Its orders rose by 150% YoY in March 2021.
CLS Holdings overcame the slow growth reported in March 2020 because of coronavirus impact by posting higher revenues in the past month. The company also commenced construction for an in-store pick-up facility, which will become operational in April 2021 and improve traffic.
Andrew Glashow, COO, and President of CLS Holdings, said its teams improved their efficiencies despite the same constraints imposed last year. As a result, the company posted better revenues this year.
Therefore, the company expects to provide services 24 hours a day to report better than expected revenues compared to last year.
Operational achievements in Q3 2021
CLS Holdings posted a growth of 44.7% YoY to $4.544 million in Q3 2021. Its margins are improved by 45.2% in this quarter.
CLS Holdings commenced extraction services in January 2021. Additional five mixes of cannabis distillate oil of City Trees are added to the company offerings. City Trees posted a growth of 97.5% YoY in Q3 2021.
Receives the nod to reduce the conversion price
CLS Holdings received the nod of CSE and shareholders in March 2021 to reduce the conversion price of each unit to $0.30 from $0.80 for all the outstanding debentures worth $13.5 million. The maturity date of debentures extended to December 12, 2022, from December 12, 2021. It shows the confidence of investors in the management of CLS Holdings to deliver high-quality products at reduced rates by executing its business plan.
Skylight Health Group Inc (OTCMKTS:SHGFF) Inks A Deal With A Leading Clinical Research Group – ClinEdge
Skylight Health Group Inc (OTCMKTS:SHGFF) signed a deal with ClinEdge in April 2021. The deal allows the company to offer sponsored trials to Massachusetts-based primary care practices.
Besides promoting clinical research, the pact shows the value of the diversity of Skylight in healthcare services in the US.
Full suite of services
With more than 10 years of experience in partnering clinical research (CR) sites with research sponsors, ClinEdge offers a full suite of support services for the clinical research institutions, sponsors, and CROs.
Its main target is developing and improving service lines at affordable rates besides ensuring accuracy and timeliness of administering CR. The company’s established relationships with Clinical Research Organizations (CROs) and industry sponsors promote the successful generation of leads for clinical trials.
The company closely works with CR sites to receive CR trials from reputed and experienced industry sponsors. CR Manager of Skylight, Alisha Garibaldi, said entering pacts with partners like ClinEdge shares its vision on promoting quality CR that benefits the patients and improves its growth. It also ensures the growth of the healthcare systems in the US on a large scale.
He further said the company is excited to enter a deal with ClinEdge, which provides unparalleled experience in the CR.
The experience of ClinEdge allows the teams at Skylight to engage in CR trials that investigate a wide gamut of indications beginning with Massachusetts-based clinical sites. It allows Massachusetts-based patients to participate in clinical trials and enjoy new therapies, vaccines, and treatments.
Contributes to the medical sciences community
Skylight, which knows the value of clinical research, intends to offer the best care to its patients besides contributing to the medical sciences community at large. After achieving success at Massachusetts CR, the company intends to replicate the same across the US by expanding partnerships.
The clinical trial opportunities that ClinEdge will bring comprise post-traumatic stress disorder, COVID-19, arthritis, diabetes, and hypertension. Skylight will offer trial opportunities to its existing patients and individuals interested in taking part in the CR.
Skylight will earn up to $15,000 for each patient trial. It will offer a stipend to the patients who took part in the clinical trial for their efforts and time.
Skylight will report Q4 2020 and full-year earnings on April 20, 2021.
Can B Corp (OTCMKTS:CANB) Takes Over Talents And Assets Of Hemp Derivative Development And Manufacturing Group
Can B Corp (OTCMKTS:CANB) took over a hemp derivative development/ manufacturing group’s talent and assets. Botanical Biotech LLC, its newly created subsidiary, will be its R&D and extraction facility based in Florida.
Can B will use Botanical Biotech, which President – Bradley Lebsock will be headed for developing and implementing its innovative pharmacokinetics technology. Botanical Biotech will also partner with emerging and global brands in developing innovative products/ solutions for wellness benefits.
Botanical Biotech engages in optimizing plant-based formulations to provide bioactive compounds and offers a consistent experience for the consumers in the long term. It will improve the solubility and absorption of bioactive compounds using various strategies.
Botanical Biotech’s expertise allows manipulating the molecules and offering economic formulations together with articulating the distinct value propositions of a formula using its communications and marketing teams.
Expertise in extracting hemp isolate
The Botanical Biotech team is experienced in extracting hemp isolate into CBN, CBG, and other cannabinoids. CBG and CBD are non-intoxicating cannabinoids and provide anti-inflammatory effects to your body. They will not create any high and offers only health benefits.
The CEO of Can B, Marco Alfonsi, said the company is thrilled to bring Bradley’s team under one umbrella and use their scientific approach to develop innovative products besides the existing products. Botanical Biotech’s science-based technology and product development expertise help Can B’s proprietary brands as well as Pure Health Products manufacturing facility based in WA.
Mobilizes $2.8 million
Can B generated $2.8 million cash through a debt financing deal from an institutional investor. The company will use these funds to pay all the convertible notes outstanding as of today. It will also use a certain portion of the funds and Reg A offering for working capital needs to promote growth in 2021.
Can B has started its operations in 2021 with an enhanced zeal. The company developed a vertically integrated platform to control its products from seed-to-sale offering high-quality products to the consumers in the previous year.
Its Pure Health Products expects to achieve GMP certification in Q1 2021. Pure Health Products also secures new white label clients.