Marijuana Business Magazine - April 2018

Thai Stick of Gum AXIM Biotechnologies entered into a binding distribution agreement for its proprietary cannabinoid-based nutraceutical chewing gum product, CanChew, to be distributed throughout Thai- land. The nonexclusive agree- ment, reached on Jan. 24, will remain in effect for one year and retains AXIM as the sole owner and manufac- turer of the product while assigning trademark and like- ness rights to the distributor specifically for Thailand. CANADA DEVELOPMENTS Cronos Hits Nasdaq, Heads Down Under Stayner, Ontario-based Cronos Group , one of Canada’s largest vertically integrated medical marijuana compa- nies, began trading at the end of February on the Nasdaq under the ticker symbol CRON. It will maintain its listing on Toronto’s TSX Venture Exchange. As a plant-touching cultivator, Cronos is the first “pure play” cannabis listing on a major U.S. stock market. It represents an important milestone for the industry as the stigma of medical marijuana thaws on Wall Street. The Nasdaq, which hasn’t been shy about rejecting cannabis companies, doesn’t list any other plant-touch- ing company directly involved in cultivation and sales. The move by Cronos could light a flame for movers of institutional capital in the United States who haven’t yet embraced the medical cannabis industry to the extent that large investors in Canada have, according to analysts. Separately, Cronos launched an Australian joint ven- ture, Cronos Australia , taking a 50% stake. The venture also started the first phase of construction of an $8 mil- lion (AU$10 million) production facility. Aurora Buys Stake in Liquor Giant Aurora Cannabis is shelling out $82.5 million (CA$103.5 million) for a 19.9% ownership interest in Liquor Stores N.A. Both companies are in Alberta. The investment will be used to establish and launch a network of branded cannabis retail outlets. An undisclosed number of Liquor Stores’ existing retail outlets will be converted. Big Supply Deal for Canopy and Sunniva Smiths Falls, Ontario-based Can- opy Growth has agreed to purchase up to 99,000 pounds (45,000 kilograms) of dried canna- bis annually from British Columbia-based Sunniva over two years. Financial terms of the deal were not disclosed. The product will be grown in Sunniva’s planned British Columbia facility, on which the company expects to break ground in March or April. Aphria Sells Stake in U.S. Grow Company Leamington, Ontario-based Aphria said it would sell its shares in Copperstate Farms , a medical marijuana grower in Snowflake, Arizona, to Liberty Health Sciences , a licensed MMJ cultivator in Alachua, Florida, for $16.2 million (CA$20 million). The move was in response to the Toronto Stock Exchange saying it would delist companies with stakes in American marijuana companies. Canna Beer The Amsterdam Brewing Co. of Toronto partnered with MedReleaf , in Markham, Ontario, to create a “canna- bis-inspired beer.” It’s the first time a Canadian licensed cannabis producer has worked with a local craft alcohol maker to introduce a beer. The beer, which doesn’t cur- rently contain cannabis, is called 4:20 Pale Ale. Beers Brewed from Marijuana Province Brands , a Canadian R&D company and an emerging brewer of alcohol-free beers, announced the filing of a provisional patent around technology to cre- ate the “world’s first beers brewed from the cannabis plant.” The provisional patent’s filing date of July 11, 2017, capped months of development on the company’s novel technology to replace grains with cannabis during the brewing process. Ontario picks Shopify Shopify , an Ottawa-based e-commerce company traded on the Toronto Stock Exchange, was selected by Ontario’s government-run provincial cannabis retailer, Ontario Cannabis Retail Corp. , to provide the software platform to process recreational marijuana sales online and in brick-and-mortar stores. Canadian Grow Company Hits Uruguay Vancouver, British Columbia-based Cannabis Wheaton said it plans to spend up to $15 million (CA$19 million) to acquire 80% of Inverell , a hemp CBD producer in Uru- guay. Cannabis Wheaton plans to produce CBD products for export. ” ◆ Have a company announcement you want us to consider? Send a news release or general information to OmarS@MJBizDaily.com . (Note: We’re looking for news about expansions, financing, deals, partnerships and similar developments, not product-related announcements.) 106 • Marijuana Business Magazine • April 2018