Marijuana Business Magazine February 2020

Marijuana Business Magazine | February 2020 28 Licensing Deal Gives Canadian Company U.S. Exposure Vertically integrated cannabis consumer packaged goods company 1933 Industries of British Columbia announced a licensing agreement between its subsidiary, Alternative Medicine Association (AMA), and Capna Intellectual , developer of The Bloom Brand. The one-year agreement awards AMA the exclusive license to manufacture a wide range of Bloom products for the Nevada market. Tokyo Smoke Seeks to Open Branded Retail Stores Tokyo Smoke , Canopy Growth’s retail brand, is working with 10 recently announced Ontario, Canada, retail license holders to open new Tokyo Smoke- branded retail cannabis stores across the province. The new stores, owned and operated by independent business owners with support available from Canopy Growth’s retail team, will increase Canopy’s retail banners across Canada to a total of 37, with more expected in 2020. TGOD Secures Major Loan The Green Organic Dutchman Holdings (TGOD), a cannabis license holder headquartered in Toronto, closed a previously announced senior secured first lien credit facility of $32.7 million (CA$42.7 million) with Maynbridge Capital of Vancouver, British Columbia. The facility consists of a committed $21.2 million (CA$27.7 million) senior secured loan with an 18-month term and an additional uncommitted $11.5 million senior secured term loan to be made available upon Maynbridge’s credit approval and the achievement of certain operating and financial milestones that TGOD expects to obtain not earlier than the end of the third quarter of 2020. TGOD also issued 7 million common share purchase warrants to Maynbridge that are exercisable to acquire one common share of TGOD for 36 months at a price of 77 cents (CA$1) per warrant. TGOD will use the pro- ceeds of the offering to complete construction of its processing facility in Ancaster, Ontario, and for general corporate purposes. High Tide Gets Loan Calgary-based High Tide , a retail- focused cannabis corporation, secured a $7.7 million (CA$10 million) loan from Windsor Private Capital , a Toronto-based merchant bank. The loan has an initial term of one year and bears an interest rate of 11.5%. The nonrevolving term credit facility is Windsor’s first investment in the cannabis industry and gives the company capital to carry out objectives such as acquir- ing and building retail cannabis stores in Alberta and Ontario, as well as for general working capital purposes. Pre-roll Packaging Partnership Candre Cannabis , an Alberta-based cannabis license holder, and Dope Automation , an Ontario tech company, are partnering to implement a co-packaging center focused on cannabis pre-rolls. The partnership already has made investments in the necessary facilities, equipment, teams and certifications needed to help micro and standard licensed producers with their pre-roll packaging projects. Company News | U.S., Canada & International Tech Firm Chooses Trinidad Distributor Medicinal Genomics , a Massachusetts company using genomics and blockchain technology to improve the yield and safety of cannabis, partnered with Analogic Solutions as its distributor for the Caribbean region. Analogic, headquartered in Trinidad, supplies cannabis breeding and testing technology to companies throughout the islands. Israeli Marijuana Firm Signs Import Deal Israel-based Canndoc entered into an agreement to import 2.5 tons of medical cannabis into Israel to address the supply shortage in that country. The cannabis will originate from Canadian producer Tilray’s facility in Portugal, the company said in a news release. The first shipment was in January. As part of the deal, Tilray also agreed to purchase up to 5 tons of Good Manufacturing Practice-certified whole flower from Canndoc starting in the middle of 2020. The whole flower either will be turned into finished product for European sale, pending regulatory approval, or developed into a finished product for Israeli distribution. 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.) INTERNATIONAL DEVELOPMENTS