Connect with us

BUSINESS

WeedMD Inc (OTCMKTS:WDDMF) Signs a Supply Accord with Alberta Gaming, Liquor & Cannabis Commission

Published

on

WeedMD Inc (OTCMKTS:WDDMF) has signed a supply accord with Alberta Gaming, Liquor & Cannabis Commission (AGLC). As per the agreed terms, the company will supply branded and good quality cannabis based products to the province. The products for sale in Alberta are intended for adult use.

CFO of WeedMD, Keith Merker said the company is proud to get selected as a supplier of cannabis for adult use in Alberta. The strategic alliance with Alberta helps to expand the product reach in the nation. The company will be able to support the legal cannabis market in Canada for adult use.

The company is geared to meet the high standards in Alberta since it is already following best commercial practices and cultivation standards.

WeedMD will develop a national distribution chain to distribute cannabis for both adult use and medical needs. The company is now negotiating with retailers, regulators, provincial distributors to expand the distribution program for adult use.

The company has completed the retrofit of greenhouse in an area of 610,000 sq. ft. based in Strathroy, Ontario.

WeedMD Forms a JV with Phivida Holdings Inc (OTCMKTS:PHVAF) To Produce Cannabis Infused Beverages

WeedMD and Phivida Holdings Inc (OTCMKTS:PHVAF) have signed an accord to form a joint venture for Cannabis infused beverages.

The newly formed company will conduct the business under the brand name Cannabis Beverages. The production facility will be established at Strathroy, Ontario.

WeedMD Inc Enters Into a Pact with British Columbia Liquor Distribution Branch

WeedMC Inc has announced signing a supply agreement with the Liquor Distribution Branch of British Columbia. As per the terms of the accord, the company will supply branded and high quality cannabis products to the province.

WeedMD Inc Announces Cultivation of Cannabis at Newly Established Greenhouse

WeedMD Inc has commenced the cultivation of cannabis at its newly established modern greenhouse. It has transplanted the first batch of the cannabis plants at this large scale facility based in Strathroy, Ontario. The company is expected to start the harvest in September 2018.

Keith Merker, CFO said the grow room that spans an area of 10,000 sq. ft. is now fully functional. The company will produce medical cannabis for patients from this modern greenhouse. It will also supply the cannabis for adult use from this plant.

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