Cannabis Strategic Ventures, Inc. (OTC PINK:NUGS) is expanding. The company announced on Tuesday a new cannabis-related financing and investment pool for the California market. Strategic Ventures will manage the pool and target the cultivation sector for its first investments. With high expectations for California’s cannabis market, the company plans to explore all sectors including extraction, packaging and dispensary operations.
Based out of Los Angeles, Cannabis Strategic Ventures helps small businesses in the cannabis sector. Founded as Cascade Energy, Inc., they offer outsourced personnel solutions to all sectors of the cannabis market. The list includes everything from cultivators to dispensaries. Before seeking investment opportunities in California, Strategic Ventures made similar investments in Washington State.
"While most of our investors consider us to be an employment and staffing service targeting the emerging cannabis sector, we now plan to show investors a much broader path for the Company," noted company CEO Simon Yu. "While we have already signed an employment deal in Washington with more on the horizon, we are now beginning the process of performing due diligence on multiple emerging cannabis cultivation opportunities, with the most advanced project being located in Santa Barbara country."
Namaste Announces LOI With Supreme Pharma
Well, she wrote me a letter, said she couldn't live without me no more… As mentioned yesterday, Namaste Technologies Inc. (CSE:N) announced a Letter of Intent with Supreme Pharmaceuticals Inc. (TSXV:FIRE) on Monday. The companies respective subsidiaries, Cannmart Inc. and 7ACRES each signed the letter. According to the deal, Supreme will supply dried cannabis flower to Cannmart for sale on their medical marketplace. Namaste praised Supreme's product, noting the 14-day plant drying process that ends with the hand-finishing of each flower.
Namaste hopes to become Canada’s largest online retailer of medical cannabis with the help of Supreme’s cultivation techniques. To further this goal, Namaste developed a telemedicine application, NamasteMD, as a patient acquisition tool. Through the partnership, Namaste expects to leverage its growing database of Canadian site visitors while offering Cannmart patients new varieties of medical cannabis.
“We are very pleased to be working with Supreme, who we believe to be one of the top Canadian producers of premium quality cannabis,” said Namaste President and CEO Sean Dollinger. “Our goal is to create an online marketplace for our patients that will offer a variety of products sourced from various licensed producers in Canada and overseas. We believe that our relationship with Supreme will be of significant value as their business model fits well with ours.”
Medicine Man Closes Equity, Pays Its Debts
Bad medicine is what I need, whoa… On Tuesday Medicine Man Technologies Inc. (OTCQB:MDCL) made public the closing of an accredited investors-only equity raise to the tune of $1.54 million. Company shares issued sold at a price of $1.0665 per unit, with 1,448,140 total units sold. The units sold by the company included one share of common stock and an eighteen-month warrant good for the purchase of one share at the price of $1.33 per unit. Proceeds from the offering will go towards the company’s remaining convertible debt.
A branding and consulting company, Medicine Man Technologies was founded in 2014 and soon grew their active client base to include 63 clients across 12 states and five countries. The company’s Chief Financial Officer, Jonathan Sandburg, expressed pleasure at Medicine Man’s ability to not utilize intermediary agents for the transaction. In a statement, he assured investors of the company’s ability to retire the remainder of their convertible debt by the end of the year.
"During 2017, Medicine Man Technologies has grown its client base substantially both in the United States and internationally, completed and integrated three acquisitions, and grew its revenue by more than 300 percent over the first three quarters of the year compared with the same period in 2016,” commented Medicine Man CEO Brett Roper. “We have also expanded our team to 20 full-time team members, compared to just 4 at this same time last year. Most importantly, our successful evolution has included the launch of several new products and services.”
Everywhere around the world, they're coming to America… Tuesday brought the announcement that medical cannabis and education company Cann10 set up shop in North America. Headquartered in Israel, Cann10’s North American operation will be located in British Columbia, with the goal of exploring new trade opportunities throughout Canada, the United States and the world.
“North America is a strategic market for us,” said company Chairman Yossi Bornstein in a statement. “Medical Cannabis is a serious business and we are now involved in the world’s fastest growing market.”
I've been a rich man and I've been a poor man. And I choose rich… General Cannabis Corporation (OTCQB:CANN) released a statement on Monday about the closing of its previously announced private placements of and warrants to purchase its common stock. With shares sold at $1.00 per unit, the private placement totaled $4 million.
"Closing the financing gives the Company the capital to aggressively expand our business into new markets," General Cannabis CEO Robert Frichtel said in the statement.
News and Notes
That’s not how any of this works… Following up on recent mCig Inc. (OTCQB:MCIG) news, the company created a new consulting division, ICOMethod, LLC to help navigate businesses through their blockchain investments. The new company will assist in the Initial Coin Offering (ICO), as well as other facets of the process such as legal compliance and marketing support. mCig’s cryptocurrency business earned them $1.25 million in the previous quarter and expectations are high for the end of the fiscal year.
We can rebuild him. We have the technology… On Tuesday INSYS Therapeutics (INSY) announced plans to start a new clinical trial of CBD oral solution for childhood absence epilepsy in pediatric patients. Phase One trials were recently completed with promising results, according to a company statement. Somewhere between two and eight percent of pediatric epilepsy patients suffer from absence seizures.
I love a good profit chart… CannaGrow Holdings, Inc. (OTC PINK:CGRW) released a statement on Monday showing that Licensed Grower, Category One Botanicals, LLC surpassed production and monthly sales targets for both November and December.