Marijuana Business Magazine April 2019

Marijuana Business Magazine | April 2019 20 Company News | U.S. & Canada including an Apothecarium in Las Vegas and edibles manufacturing brand Valhalla Confections. Valhalla also has a footprint in the New Mexico medical marijuana market. TerrAscend also closed its acquisition of Grander Distribution , a Boca Raton, Florida-based business that produces and distributes whole-plant hemp extract products. Khiron Life Sciences Makes $10 Million Uruguay Buy Khiron Life Sciences , an inte- grated medical cannabis company headquartered in Toronto but with core operations in Colombia, is buy- ing Uruguay’s NettaGrowth International in a deal valued at $10.3 million (CA$13.7 million). NettaGrowth is acquiring Dormul , which secured a cannabis cultiva- tion license in Uruguay with capacity up to 120 metric tonnes (132.3 tons), or 170,000 plants. The company also has a pending application for an extraction permit. That license would allow Dormul to be the first company in Uruguay approved for both domestic use and exports of CBD products. Weekend in Oklahoma Weekend Unlimited , a Vancouver, British Columbia-based marijuana company with operations in the United States, signed a letter of intent to acquire 51% of PPK , a vertically integrated cannabis business in Wilburton, Oklahoma. PPK’s 7-acre property includes a 15,000-square-foot facility that houses nursery/ cultivation and extraction activities and includes a 1,500-square-foot retail space for a concept store to be developed as a first location in Oklahoma. The property also includes a 5,000-square-foot production and packaging site that will be used for Weekend’s Canna Candys brands, which will be sold in Oklahoma. Under the letter of intent, the purchase price is $5.6 million, while Weekend would have the option to purchase the balance of the operation on terms to be determined. Edibles Agreement Flower One Holdings, a Toronto-based cannabis company with cultivation operations in Nevada, has a long-term licensing agreement and brand partnership with Colorado-based CannAmerica Brands to produce cannabis edibles products for the Nevada recreational market. CannAmerica sells its edibles products in three states. Under the agreement, Flower One is licensed to manufacture, distribute and sell CannAmerica Brands’ marijuana gummies to all cannabis retailers in Nevada. This is Flower One’s first foray into the edibles sector. CannAmerica’s agreement with Flower One also marks the end of its existing licensing agreement with Nevada-based cannabis cultivator Matrix NV . Patched Agreement Leamington, Ontario-based Aphria , one of the world’s biggest marijuana companies, announced a worldwide license agreement with Manna Molecular Science , a Worcester, Massachusetts-based company that produces cannabis transdermal patches. Leveraging Manna’s established formulations, equipment and processes, Aphria will produce and sell patches containing cannabis oil for its established suite of medical and adult-use brands. Under the agreement, Manna grants Aphria exclusive preferred vendor status for a period of five years, and an exclusive license to produce, market, distribute, promote and sell Manna patches containing cannabis oil as an active ingredient. U.S.-Canadian Canna Tech Partnership Leafly , a Seattle-based online cannabis information website, and Greenline POS , a cannabis compliance and point-of- sale provider in Vancouver, British Columbia, are partnering to automate online menus so they can show consumers real-time inventory and pricing for all strains and products available in partner stores. Online menus are typically updated manually, so they are not always updated in time to keep up with inventory changes and are vulnerable to human error. Automated updates are in real time, the partners assert. 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.)