Pharmacy giant Shoppers Drug Mart is playing the field, announcing this week another cannabis supplier agreement on top of their recent landmark deal with Aphria Inc. (TSX:APH). MedReleaf Corp. (TSX:LEAF) inked a deal to supply Canada’s largest retail pharmacy chain with medical cannabis, subject to approval from Health Canada. Due to certain restrictions on the sale of medical marijuana in Canada, MedReleaf products sold through Shippers Mart will only be available online.
MedReleaf touts themselves as North America’s only producer of ICH-GMP and ISO 9001 certified cannabis. With research and development as the company’s primary focus, MedReleaf works towards finding and understanding the “therapeutic benefits of cannabis.” The company sells a selection of products, with globally-sourced cannabis processed in their Ontario-based facilities.
"From inception, MedReleaf has been focused on setting the standard for patient care in our industry and producing consistent, high quality medicine," commented MedReleaf CEO Neil Closner. "With this agreement, we look forward to making our award-winning strains available as the trusted provider of premium cannabis-based pharmaceutical products to the largest pharmacy retailer in Canada."
Hot on the heels of the Aphria deal, MedReleaf now positions itself as a brand alternative in the most massive consumer outlet for medical cannabis in Canada.
A Dose Of Emblem Corp.
Two turtle doves and a partridge in a pear tree… On Thursday Emblem Corp. (TSX-V:EMC) received an early Christmas gift in the form of a new licensing agreement with Dosecann Inc. Together the companies will develop cannabinoid dosage formulations designed to assist in patient titration and administration. Under the terms of the agreement, Emblem and Dosecann will begin immediate work on a cannabis-oil oral spray dosage form, to be quickly followed up with two separate dose-controlled vaporizers.
Full of seasonal joy, the deal expands the research relationship between the two companies exponentially. Together they will work on preclinical formulations, clinical development, and regulatory approval of various cannabinoid dosage forms. A quid-pro-quo is included in the agreement as well, in which each company receives royalty payments from sales of the others products.
“We are very excited about our relationship with Dosecann,” said President and CEO of Emblem Corp. Nick Dean. “We are focused on and committed to investing in pharmaceutical research and development and bringing more medically-focused products to market. We expect that these dosage-controlled products will have a major impact on the Canadian medical cannabis market and we’re looking forward to further collaborations with Dosecann to bring other value-added cannabis-based metered-dosage forms to the market.”
Queensland Bauxite Cares About Your Pet
Rudolph, the red-nosed reindeer, had a very shiny nose… Queensland Bauxite Limited (ASX:QBL) announced this week that their subsidiary Medical Cannabis Limited would license Low THC Delta 9 Cannabis cultivars to Algae Tec Ltd. (ASX:AEB). The company hopes to establish a breeding program for cannabinoid development, with an end goal of producing cannabis veterinary medications. Medical Cannabis Ltd. will assist Algae Tec with the cultivation process, while still retaining the rights to the cultivars for human use.
Algae Tec now becomes one of Australia’s only medical cannabis company with a legal source for the plant. Medical Cannabis Ltd. hopes to benefit from the vast research and development experience that Algae Tec brings to the table. For its part, Algae Tec has some in-house experts ready to work on the project.
"We knew the securing of a certified starting material would be a key component to our future endeavours,” remarked Executive Chairman and Managing Director of AEB Malcolm James. “This agreement far exceeds this and will build on our available expertise in the field and consolidate to a far greater degree the groundwork we have already done in a relatively short time."
Santa Claus is coming to town… Just in time for Christmas, Lifestyle Delivery Systems Inc. (CSE:LDS) announced that their licensee CSPA Group, Inc. received a Temporary Category M Type 7 Manufacturing with Volatile Solvents License from the Manufactured Cannabis Safety Branch of the California Department of Public Health. The license goes into effect on January 1 and is good until April 30, 2018. Afterwards, the state will determine if LDS should receive a permanent license.
“This license marks the beginning of the most significant milestone yet in the development of the CannaStripsTM project,” said LDS CEO Brad Eckenweiler.
I have no gift to bring… Paying off their Christmas bills early was Tauriga Sciences, Inc. (OTC PINK:TAUG), who announced on Friday, the settlement of the company’s most substantial balance sheet liability. The cost of business was a one-time cash payment of $15,000 and 5 million company shares. Total owed by Tauriga was $177,883.71, with the creditor being a U.S. based Environmental Engineering firm.
“The most important corporate goals are to restore and create long-term shareholder value for our many shareholders who have persevered a difficult past few years,” observed company CEO, Seth M. Shaw.
News and Notes
It’s beginning to look a lot like Christmas… On Thursday PUF Ventures Inc. (CSE:PUF) announced that the Office of Drug Control had approved their license for their Northern Rivers Project in New South Wales, Australia. The project focuses on both cannabis cultivation and production. PUF Ventures Australia also announced that they changed their name to Solaris Nutraceuticals Pty Ltd.
Here comes Santa Claus, here comes Santa Claus… Santa Claus also came early for Blue Diamond Ventures Inc. (OTC PK:BLDV), who announced on Thursday the acquisition of 25 percent of Cann10 North America Holdings Ltd. BLDV now becomes the largest shareholder in the company, with CEO Josh Alper taking a seat on the Board of Directors. “Cann10 North America is actively securing strategic partners,” said Alper, in a statement.
All I want for Christmas… Santé Veritas Therapeutics Inc. announced on Thursday that the company closed on a $16 million private placement, led by Canaccord Genuity Corp. and PowerOne Capital Markets Limited, together with Gravitas Securities Inc.
Have a holly-jolly-Christmas… Marapharm Ventures Inc. (CNSX:MDM) announced in a statement on Thursday the selection of American Builders for the manufacturing of their new, Las Vegas-based cannabis property. The building is third such project, with delivery expected in 60 days.