In San Joaquin County, local law enforcement played a high-stakes game of cops-and-robbers, forcing Cannabis Science Inc. (OTC PINK:CBIS) to seek a preliminary injunction. The company announced on Monday their pleasure with Judge Kimberly Mueller, an appointee of former President Barack Obama, over her willingness to lay the ground for the injunction. This news follows an initial “no” ruling on a Temporary Restraining Order (TRO) sought by Cannabis Science against San Joaquin County, based on what CEO Raymond Dabney called a lack of information.
Earlier this year the San Joaquin Sheriff's Department executed a search-and-seizure on 26.19-acres of Cannabis Science's industrial hemp. Cannabis Science proceeded to file a complaint with the U.S. District Court for the Eastern District of California on October 27, 2017. While initial reports claimed DEA involvement, later evidence showed that officials from San Joaquin County acted alone. In fact, Cannabis Science was operating with the permission of the DEA, according to a company statement.
“This is our opportunity to help the judge clearly understand the scope and importance of the educational and drug development work being done by the University group that includes Cannabis Science and its partners, and how it all ties together with the University programs, farming partners, local community educational programs, Native American incentive packages, and entrepreneurial programs for local economic growth and stability,” Cannabis CEO Raymond Dabney remarked in a statement.
So much for a “rational” marijuana policy.
Aphria Lands Deal With Shoppers Drug Mart
Good morning shoppers… Aphria Inc. (TSX:APH) signed a deal this week with Shoppers Drug Mart, Canada’s largest retail pharmacy chain. The five-year agreement makes Aphria the preferred supplier of medical cannabis products for the pharmacy chain. Aphria, a Canadian cannabis producer, also has interests in the United States, which at the time puts their listing on the TSX in jeopardy.
Shoppers Drug Mart will sell dried bud and cannabis-infused oils via the web, as Canadian law prohibits storefront and pharmacy retail sales. The pharmacy chain, owned by grocer Loblaw Cos. Ltd., submitted the proper paperwork for medical cannabis sales with Health Canada. Approval from Health Canada is a final condition of the deal, financial details of which are not yet public.
"This is a big moment for Aphria," CEO Vic Neufeld commented. "We have an opportunity to grow as Shoppers Drug Mart grows."
CLS Holdings Acquires Oasis Cannabis
Midnight at the Oasis… On Monday cannabis extraction and conversion company, CLS Holdings (OTCQB:CLSH) announced a deal to acquire Nevada-based Oasis Cannabis. Like CLS, Oasis is an extraction and conversion company that also has its own retail dispensary. According to a joint statement, Oasis cannabis sales generate roughly $650,000 per month in gross revenue.
Experts see the deal as beneficial to CLS, as the company can now take advantage of Oasis Holdings’ permits to both operate a dispensary and deliver cannabis products to customers. Furthermore, experts argue, CLS uses proprietary extraction methods which it can now put in place to increase Oasis’ yield. It is a beneficial deal all-around.
As one expert wrote, the deal could help scale the retail side of the business, “by opening franchises throughout Nevada, and possibly other states in which marijuana is legal.”
The call is coming from inside the house… GB Sciences Inc. (OTCQB:GBLX) announced that their tissue propagation initiative includes 100 percent of the mother plants in their Las Vegas cultivation facility. According to the company, it is a remarkable achievement in the face of naysayers who believe that commercial tissue propagation is nothing but a cannabis urban legend. Under the program, the mother cannabis plant produces genetically identical offspring, the benefits of which are many.
My mother told me to marry a doctor… PUF Ventures (CSNX:PUF) Australian subsidiary, PUF Ventures Australia applied for a medical research license in partnership with Western Sydney University. The planned research will take place at the company’s yet-to-be-completed Northern Rivers Project. Proposed cannabis research topics include women’s health disorders, multiple sclerosis, and immune disorders.
But one can think deeply and be quite insane… Also partnering in the research field was Evitrade Health Systems (CSE:EVA), who announced a deal with Cantech Molecular Research Inc. Cantech is a medical technology service company with a focus on tissue culture services for the medical cannabis industry. “The proposed acquisition of Cantech Molecular Research Inc. should serve as an excellent addition to our current offerings at Evitrade,” said CEO Sydney Au.
News and Notes
Whether you think you can, or you think you can’t, you’re right… Namaste Technologies Inc. (CSE:N) signed a non-binding letter of intent with the wildly named O Cannabis We Stand On Guard For Thee. According to the agreement, Namaste subsidiary NamasteMD Inc. will receive patient consultation services from O Canada. O Cannabis also has an online platform which will offer Namaste’s vaporizer hardware to patients.
If you aim for failure, you’ll always succeed… On Tuesday Belgravia Capital Inc. (CSE:BLGV), formerly IC Potash, reported on their share price and trading volume. As part of the report, the company announced that along with its cannabis ventures, the company is seeking joint ventures related to blockchain technology in the cannabis industry. The company hopes that blockchain within the cannabis industry will “ensure the integrity of intra-corporate and inter-corporate cannabis industry seed to sale data and related security and safety information,” according to CEO Mehdi Azodi.
A nickel ain't worth a dime anymore, Part IV… In stocks to watch General Cannabis Corp. (OTCMKTS:CANN) gained more than 29 percent in the last trading session to close out at $2.89.
And Betty when you call me, you can call me Al… Entrepreneurial support company Cascade Energy Inc. (CSCE) changed their company name to Cannabis Strategic Ventures. They are now trading under the new stock symbol NUGS.