Marijuana Business Magazine November December 2018

operates in 14 states and Harvest in seven. The state’s medical cannabis sector is expected to go online late this year or early 2019. GB Sciences Gets License to Produce Oil GB Sciences was granted a recreational production license for the manufacture of cannabis oils. The Las Vegas company expects revenue from sales of oil-related goods such as vape products, tinctures, edibles and nutra- ceutical formulations will start around $100,000 per month and could reach $300,000 per month. High Times Buys Dope Magazine, Gets $10 Million Investment California-based cannabis culture publication High Times acquired Dope Media , the Seattle publisher of Dope Magazine, for $11.2 million in cash and stock. The High Times portfolio also includes Green Rush Daily and Culture Magazine. The acquisition includes Dope’s multimedia website, the company’s Dope Cup events and Dope’s chief executive officer and three founders – Dave Tran, James Zachondi and Evan Carter – as well as other staffers. Dope CEO George Jage was previously president and publisher of Marijuana Business Daily . Separately, the nation’s largest radio broadcaster, IHeartMedia, has agreed to invest up to $10 million in the publisher of High Times, giving the marijuana company access to the media firm’s digital and radio advertising platforms. Under the deal, IHeart will commit $5 million-$10 million worth of advertising on the internet and radio – platforms High Times says it plans to use to promote its previously announced plans to go public. No cash will trade hands. Infused Drinks Maker Launches CBD Product Line Los Angeles-based Sprig has begun sales of its CBD-infused soda line in New York, Florida, Nevada and Illinois. Sprig said the company distribution agreements increase the availability of the product and support the firm’s nationwide sales strategy. Grow Generation Buys Online Seller of Hydroponic and Cultivation Supplies Denver-based Grow Generation , a large specialty retail hydroponic and organic gardening store, acquired HeavyGardens.com , an online seller of hydroponic and grow supplies. Grow Generation expects HeavyGardens. com to generate more than $5 million in sales for fiscal year 2019. Evo Hemp Inks Partnership to Grow Hemp on Native American Land Evo Hemp , the maker of Hemp Bars sold by more than 3,000 retailers, including Whole Foods Market, Kroger and Wegmans, unveiled a new line of CBD extracts and soft gel capsules made with organic hemp grown by Native American hemp activist Alex White Plume on the Pine Ridge Indian Reservation in South Dakota. Evo Hemp, which is based in Boulder, Colorado, currently has 10 acres of organic hemp crop under contract with the tribe and hopes to expand the partnership moving forward. CANADA DEVELOPMENTS Pure Global Lists Shares on Frankfurt Exchange Pure Global , a vertically integrated life sciences cannabis company, has listed its shares on the Frankfurt Stock Exchange. The Toronto company’s shares continue to be listed on the TSX Venture Exchange and the U.S. over-the-counter market. The company also completed a $7.7 million (CA$10 million) private placement. Aurora Buys Uruguayan Grower for $220 Million Aurora Cannab is agreed to acquire Uruguayan mari- juana producer ICC Labs in a deal valued at $220 million (CA$290 million). The acquisition is intended to establish the Alberta-based company as a leader in South America. Under the deal, Aurora would have the capacity to produce cannabis at a lower cost in both Uruguay and Colombia. Canadian-Jamaican Venture Toronto-based Rawmedz signed a multiyear joint venture agreement with the College of Agriculture, Science and Education , an academic institution based in Portland, Jamaica, and Rawmedz Jamaica , a wholly owned subsidiary. The partners will collaborate on the cultivation, processing and distribution of sustainably grown cannabis as well as research and development in strain genetics. CannTrust Ships Oil to Denmark, Inks Partnership With Alcohol Wholesaler CannTrust Holdings , a licensed producer in Vaughan, Ontario, completed its first shipment of cannabis oils to Danish joint venture partner StenoCare . CannTrust also signed a strategic partnership with Breakthru Beverage Group (BBG) to establish 158 • Marijuana Business Magazine • November/December 2018