Marijuana Business Magazine April 2019

April 2019 | mjbizdaily.com 17 Australis Capital Buys Mr. Natural for $1.3 Million Las Vegas-based Australis Capital , a cannabis-centric investment firm, acquired 100% of Mr. Natural Productions , a medical and recreational cannabis brand based in California. The acquisition, valued at $1.3 million, includes the rights to the Mr. Natural brand and to the life story of Mr. Natural founder Robert Luciano as well as all related intellectual property. Barneys New York Makes Cannabis Foray Upscale specialty retailer Barneys New York plans to sell cannabis products and accessories in a new “luxury” head shop called The High End. The shop was scheduled to open in March inside the Barneys flagship store in Beverly Hills, California. The High End will sell Beboe -branded cannabis products for delivery because the store won’t have a California marijuana retail license, The New York Times reported. The shop also will sell rolling papers, glass water pipes and other accessories, including a sterling silver marijuana grinder that will retail for $1,475, as well as CBD-infused beauty products. Barneys plans to open other High End locations in California and in other states including New York—provided the Empire State legalizes adult-use marijuana. CannaRegs Raises $2 Million to Launch New Service Denver-based software compliance firm CannaRegs raised $2 million from investors to launch Regs Technology , which will offer services to “other highly regulated hyper-local industries like shared transportation, electric and autonomous vehicles and emerging mobile telecom technologies.” While mainstream companies reaching into the marijuana industry is common, few if any cannabis firms have waded into other industries. Investors who participated in the raise include Phyto Partners and Panther Opportunity Fund . CannaRegs currently pro- vides an online subscription platform that specializes in helping MJ businesses navigate industry regulations in 12 U.S. states. Regs Technology is already developing TransitRegs, which will track regulations for autonomous vehicles, electric vehicles and charge stations, app-based rideshares, scooters, dockless bicycles and robotic deliveries. Puerto Rico Medical Marijuana Study Veritas Pharma Puerto Rico , a subsidiary of Veritas Pharma , in partnership with the Institute for Medical Cannabis (IMC) and the Fundación de Investigación (FDI), received an “Investigation License” from the Commonwealth of Puerto Rico Medicinal Cannabis Regulatory Board allowing clinical evaluation of its lead cannabis product, CTL-X, in alleviating acute pain. The license marks the start of the first human trials for medicinal cannabis to be carried out on the island since the approval of the Medicinal Cannabis Act of 2017. Veri- tas has licensed the intellectual property of its patented strains to IMC, which, in turn, provides samples to the FDI for direct research to be carried out in the latter’s San Juan-based clinical research facilities. CANADA DEVELOPMENTS Tilray Makes Two Purchases Totaling More Than $370 Million British Columbia cannabis giant Tilray made two major acquisitions: one that takes it into the United States and Canadian natural food markets, and another that strengthens the com- pany’s position in the Canadian adult-use market. Tilray acquired hemp foods company Manitoba Harvest for $319 million (CA$419 million) in cash and stock. Manitoba Harvest, based in Winnipeg, already sells hemp food products in more than 16,000 stores in the United States and Canada and plans to launch a line of CBD products this summer. The two companies will work together to develop new CBD wellness products and hemp-based con- sumer foods. Manitoba Harvest will operate as a wholly owned subsidiary of Tilray after the deal closes, which is expected within the next 30 days. Tilray also completed its acquisition of Natura Naturals Holdings , the parent company of an Ontario licensed cultivator, for up to $52.4 million (CA$70 million).