Marijuana Business Magazine April 2020

Marijuana Business Magazine | April 2020 24 Cannabis Research Firm Gets Access to Critical Molecules Tetra Bio-Pharma , an Ontario company that develops cannabinoid-derived drug medicines, signed a co-development agreement with MakScientific , a Boston-based developer of cannabis-based medicines. The agreement gives Tetra access to novel patented molecules with CB1 and CB2 agonist or antagonist properties. This agreement secures patented drug candidates for Tetra to develop after pipeline formulations Caumz and QIXLEEF receive marketing approval. Under the agreement, MakScientific will develop new molecules to be screened by Tetra for potential efficacy against cancer, pain and inflammation as well as other potential targets.  BC License Holder Pops New Beverage Lines The Valens Co. , a license holder in Kelowna, British Columbia, launched a line of cannabis- infused beverages produced under a white- label agreement with A1 Cannabis Co. , a Toronto-based subsidiary of Iconic Brewing. The new line of beverages includes Basecamp, a CBD-infused iced tea, and Summit, a THC- and citrus-infused water. Both beverages were developed using Valens’ emulsion technology, which transforms cannabis oil into water-soluble forms for use in beverages, edibles, topicals and other consumer products. Ontario License Holder Raises $1.9 Million Canada House Wellness Group , the parent company of Abba Medix, a license holder in Pickering, Ontario, raised $1.9 million (CA$2.6 million) for general corporate purposes. A company insider bought approximately $223,000 of the offered shares. Such subscription is exempt from formal valuation and minority shareholder approval requirements, as neither the fair market value of any shares issued to nor the consideration paid by such person exceeded 25% of the market capitalization of Canada House. Canada House Wellness also owns Canada House Clinics, a national cannabis clinic chain, and Knalysis Technologies, a provider of cloud-based software that provides data to physicians, providers and patients. Slang Acquires Cannabis IP Business Slang Worldwide , a cannabis consumer packaged goods company headquartered in Toronto, bought Cultivate Brands Corp ., a privately owned company with a portfolio of brands and other intellectual property in Oregon. Cultivate’s assets include extraction equipment and other machinery Slang intends to use within its network, approximately $3.4 million (CA$4.5 million) in cash and a strategic investment in a company within the supply chain. Toronto MJ Firm Gets Funding for Florida Grow Ontario-based CannCure Investments secured a $15 million construction loan from Advanced Flower Capital to fund the building of an 88,327-square-foot indoor medical marijuana grow, processing and lab facility in Florida. Toronto-based cannabis company Sol Global Investments acquired CannCure in 2018. The loan will be secured by a mortgage and other security interests. CannCure will build the facility on its One Plant site in Indiantown, Florida. One Plant formerly was known as 3 Boys Farm. Alberta Cannabis Company Rebrands Calgary-based Westleaf has renamed itself the Decibel Cannabis Co. The rebrand brings the former company’s Westleaf and We Grow businesses under one name and brand identity. Common shares of the new business are anticipated to begin trading under the ticker symbol DB on the TSX Venture Exchange. Canopy Strikes Export Deal With Israeli Firm Ontario-based Canopy Growth is partnering with Univo Pharmaceuticals , a cannabis product- manufacturing company in Ashkelon, Israel. In the first stage of the agreement, Univo will import 470 kilograms (1,036 pounds) of dry medical cannabis grown by Canopy, produce Univo-branded cannabis products with Canopy’s raw materials and distribute them to Israeli pharmacies. In the second stage, Canopy will order manufacturing and processing services from Univo’s plant in Ashkelon and will have the right to enter into agreement with Univo as a producer and distributor of medical cannabis products under the EU-Good Manufacturing Practice standard in European markets, subject to the required approvals. Ontario MJ Companies Strike Licensing Deal Namaste Technologies , a Toronto-based platform for cannabis products, accessories and education, announced that its wholly owned German subsidiary, CannMart , executed a licensing agreement with CompanyNews | U.S., Canada & International CANADA DEVELOPMENTS