Marijuana Business Magazine September 2018

Two Exchanges List Cannvas The Canadian Securities Exchange began listing com- mon shares of Cannvas Med- Tech , a cannabis and health technology company, on July 3. Two weeks later, Can- nvas listed on Germany’s Frankfurt Stock Exchange, the world’s third-largest exchange by volume. Shawn Moniz, chief executive officer of Cannvas, said by listing on the exchanges the company hopes “to gain access to capital to grow our business and continue our journey toward becoming a leading business technology company within the cannabis space.” Partners Embark on $42 Million Grow FV Pharma and Auxly Cannabis Group are collabo- rating on a 220,000-square-foot facility for hydroponic cultivation, extraction and research and development in Cobourg, Ontario. Auxly is contributing $42 million (CA$55 million) to this first phase of building out the 620,000-square-foot property. The companies behind the project hope it will be ready for government approval by late December and for cultivation by late January. Pure Global Completes Reverse Takeover Pure Global Cannabis , a life sciences cannabis company in Toronto, completed a reverse takeover of medical marijuana cultivator PureSinse . Terms weren’t disclosed. PureSinse’s flag- ship facility is in Brampton, Ontario; the company has an 18,000-square-foot facility that will be used for hydroponic development, processing and distribution of more than 8,000 kilograms (17,637 pounds) of cannabis per year. Pure Global traded as Royal Sapphire until March 12 and resumed trading on the TSX Venture Exchange on July 11 under the ticker symbol PURE. Aurora Creates Partnerships Aurora Cannabis in Edmonton, Alberta, announced the following collaborations: • The company will partner with Evio Beauty Group in Toronto to develop a line of cobranded cosmetics with hemp seed oil as well as CBD-infused cosmetics. The companies hope to increase brand recognition and cross-selling opportunities through the partner- ship, which will offer naturally sourced, cruelty-free products. • Aurora issued a combination of cash and common shares in exchange for the technology that Wagner Dimas uses to produce high-volume pre-rolled prod- ucts for a variety of brands. The technology is used for the California market, for which Wagner Dimas expects to produce 50 million pre-rolls this year. GTEC to Build Indoor Grow GTEC Holdings signed a letter of intent with F-20 Developments to build a 240,000-square-foot cultivation facility in Vernon, British Columbia. F-20, which oversees financing and construction of projects, will serve as project manager and has identified a 60,000-square-foot building to be retrofitted as the first phase of the project. The two companies will incorporate a new business, NewCo , to complete the build, which is estimated to cost $7.6 million (CA$10 million). GTEC Holdings consolidates licensed craft cannabis producers. FSD Pharma Buys Stake in Atlantic Island Cannabis FSD Pharma , a licensed MMJ pro- ducer in Cobourg, Ontario, agreed to acquire a 51% stake in Atlantic Island Cannabis for $4.9 million (CA$6.5 million), payable in Class B subordinated shares. The deal includes a $30 million strategic investment to expand production and sales in Newfoundland, including construction of a 45,000-square-foot cultivation facility in the Freshwater-Carbonear area of Newfoundland. The new company has been renamed FSD Atlantic Pharma . Canopy Invests $30 Million in New Brunswick Canopy Growth Corp. will invest $30.4 million (CA$40 million) in a production facility in Fredericton, New Brunswick, under its Tweed brand. The facility will support medical and recreational operations across the globe. To help support the creation of more than 100 local jobs, Opportunities NB , a province-owned entity focused on New Brunswick’s economic development, could invest up to $1 million (CA$1.3 million) in the Canopy project. ONB projects that by late 2022 the cannabis industry could provide as many as 3,000 jobs in New Brunswick, which is home to fewer than 800,000 people. ◆ 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.) 110 • Marijuana Business Magazine • September 2018