Tag: world news

VANCOUVER, BC, July 13, 2021 /PRNewswire/ – Kiaro Holdings Corp. (TSXV: KO) (“Kiaro” or the “Company”), a national omni-channel cannabis retailer and wholesale distributor, is pleased to announce that the Company has entered into a definitive agreement with Aegis Brands Inc. (“Aegis”) to acquire all the issued and outstanding shares of its subsidiary, 2734524 Ontario Inc. (dba Hemisphere Cannabis Co, “Hemisphere”), which currently operates 7 excellent retail locations in Ontario (the “Existing Locations”) and two more locations in development (the “Transaction”). Completion of the Transaction will more than double Kiaro’s retail footprint and give it a significant presence in the Ontario retail cannabis market.

The total initial purchase price in connection with the Transaction will be settled by the issuance of 61,300,000 common shares of Kiaro (“Kiaro Shares”) and warrants of Kiaro (the “Kiaro Warrants”) to acquire up to additional 6,700,000 Kiaro Shares, subject to customary adjustments.  Aegis shall also be entitled to receive a further 6,700,000 Kiaro Shares on achievement of certain commercial milestones within the first year following closing.

KEY TRANSACTION HIGHLIGHTS INCLUDES NEW EXPECTED REVENUE RUN RATE OF $42.7 MILLION

• Substantial increase in Kiaro’s retail network: The Transaction provides Kiaro with new revenue from 7 open and operational stores with 2 more Retail Store Authorizations in process. As a result, we expect Kiaro’s annual run rate revenue to increase to $42.7M with a gross margin of $13.7M immediately following closing.
  
  
  
  
• Amplifies Kiaro’s strategic entry into Ontario: With multiple locations in diverse municipalities in Ontario, the Transaction will allow Kiaro to establish a significant presence in the Ontario cannabis retail market.
  
  
  
  
• Executes on the plan of revenue and EBITDA growth through acquisition: The portfolio adds to Kiaro’s cash generating assets while providing expected additional high margin revenue streams.

In connection with the Transaction, Kiaro is excited to announce that Jenn Juby, Vice President of Retail at Hemisphere, will join the Kiaro team in the same capacity. Ms. Juby will contribute to the integration of the new stores into the Company and will use her expertise to continue the implementation of Kiaro’s retail experience.

Daniel Petrov, Chief Executive Officer of Kiaro stated, “The acquisition of Hemisphere is simply transformational. I expect this transaction will be significantly accretive for shareholders as we push forward towards $50M in target revenue. It brings up to 18 stores into operation by the end of the fiscal year and cements a strategic partnership with retail industry titans at Aegis Brands. Their team has assembled a superior Ontario portfolio of well-positioned brick and mortar locations, supporting our objective of exponential revenue and EBITDA growth.”

“The retail cannabis space is changing rapidly in Canada. We recognize the need for scale and focus to ensure success in this sector. As such we are thrilled to forge a partnership with Kiaro to build a cannabis retailer with a prominent nationwide presence and a clear path to $50 million in annual revenue,” said Steven Pelton, President and CEO of Aegis Brands. “The strategic alignment between two likeminded Canadian brands will serve to elevate the customer experience, while bolstering growth and profitability in the combined company,” said Pelton.

Transaction Details

The Transaction is subject to applicable regulatory approvals including, but not limited to, the Alcohol and Gaming Commission of Ontario and TSX Venture Exchange approval and the satisfaction of certain other closing conditions customary in transactions of this nature.

It is anticipated that, subject to receipt of all regulatory and other applicable approvals, the Transaction is expected to complete in September 2021.

This press release is available on the Kiaro Verified Forum On AGORACOM for shareholder discussion and management engagement

Kiaro Holdings Corp.

Based in Vancouver, British Columbia, Kiaro is an independent, omni-channel cannabis retailer and distributor. Through existing storefronts across British Columbia, Saskatchewan and Ontario, a wholesale distribution division servicing Saskatchewan, ecommerce sites in Canada, the US and Australia, and plans for continued national expansion, Kiaro is driven to introduce new and experienced consumers to a lifelong exploration of cannabis. With more than 50 years of collective retail-focused experience, Kiaro’s leadership team has a proven track record of growing retail brands across North America and plans to open multiple retail locations nationwide over the coming years.

Aegis Brands Inc.

Aegis Brands Inc. owns and operates a portfolio of brands currently consisting of Bridgehead and Hemisphere Cannabis Co. For more information, please visit www.aegisbrands.ca or find the Company on Facebook and Twitter.

Erin Richards, (416) 627-5728, erin@hypepr.ca

Forward-Looking Information

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Kiaro, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. In this news release, forward-looking statements relate, among other things, to: completion of the Transaction and regulatory and other applicable approvals, proposed retail expansion plans and management’s ability to execute on same, overall growth of the Canadian cannabis market and retail opportunities, the integration and financial projections of combined retail portfolio, the award of new operating permits and licenses in various jurisdictions, and the timing and amount of any dispositions of the Company’s common shares. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Kiaro’s control. These risks, uncertainties and assumptions include, but are not limited to, those described in the Kiaro Filing Statement dated September 29, 2020, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Furthermore, any forward looking information with respect to future expansion plans is subject to the qualification that management of Kiaro may decide, and the assumptions that any construction or conversion would not be cost prohibitive, required permits will be obtained and the labour, materials and equipment necessary to complete such construction or conversion will be available. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Kiaro does not intend, nor undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, visit: investors.kiaro.com

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SOURCE Kiaro Holdings Corp.

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Management will host a conference call at 5:00 p.m. ET on the same day

LAVAL, QC, July 13, 2021 /PRNewswire/ – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, announced today that it will report its financial results for the fiscal fourth quarter and full year 2021 after financial markets close on Thursday, July 15, 2021.

Following the release of its financial results, the Company will host a conference call at 5:00 p.m. (Eastern Time) on Thursday, July 15, 2021, to discuss these results.  The conference call will be webcast live and can be accessed by registering on the Events and Presentations portion of Neptune’s Investor Relations website at www.investors.neptunewellness.com. The webcast will be archived for approximately 90 days.

ABOUT NEPTUNE WELLNESS SOLUTIONS INC.

Headquartered in Laval, Quebec, Neptune is a diversified health and wellness company with a mission to redefine health and wellness.  Neptune is focused on building a portfolio of high quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The Company utilizes a highly flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled to quickly adapt to consumer demand and bring new products to market through its mass retail partners and e-commerce channels. For additional information, please visit: https://neptunewellness.com/.

Forward Looking Statements 

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes”, “belief”, “expects”, “intends”, “projects”, “anticipates”, “will”, “should” or “plans” to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

The forward looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the “Cautionary Note Regarding Forward-Looking Information” section contained in Neptune’s latest Annual Information Form (the “AIF”), which also forms part of Neptune’s latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and on the investor section of Neptune’s website at www.neptunecorp.com. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein include, without limitation, statements about the fulfillment of purchase orders, the availability of products from Neptune’s supplier, and the anticipated use of proceeds of the financing and other risks and uncertainties that are described from time to time in Neptune public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under “Risk Factors”.

Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Neptune Wellness Solutions Inc.

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OTTAWA, ON, July 14, 2021 /CNW/ – The Mental Health Commission of Canada (MHCC) and its partners are pleased to announce the investment of $2 million toward targeted research on the mental health effects of cannabis use among diverse populations in Canada.

This joint investment with the Canadian Institutes of Health Research (CIHR), the Canadian Consortium for Early Intervention in Psychosis (CCEIP), the Schizophrenia Society of Canada Foundation, and Veterans Affairs Canada, will fund a total of 18 research projects covering a wide range of subpopulations that are under-represented in current research.

“To gain a clear understanding of the mental health impacts of cannabis use in Canada, we must include representation from all areas of the population — particularly from those communities who are frequently overlooked in research,” said MHCC president and CEO Michel Rodrigue. “With these new projects, we hope to help answer important questions in the existing research and inform the development of future larger-scale projects.”

The groups included in the 18 innovative projects cover a broad spectrum, including racialized and Indigenous communities, individuals experiencing mental illness (such as schizophrenia and psychosis, PTSD, and depression), 2SLGBTQ+ communities, and Veterans.

“Research projects like these are absolutely vital as we work to improve the supports and programs we provide to those who’ve served our country,” said Lawrence MacAulay, minister of Veterans Affairs and associate minister of National Defence. “We’ll be able to make better decisions by exploring the impact of cannabis on areas like PTSD or the mental health and quality of life of our Veterans, and Veterans Affairs Canada is proud to be providing funding as a partner in this important research.”

Research gaps the new evidence will address include the impacts of cannabis use for individuals with a history of trauma, cannabis use among individuals with substance use disorders who identify as 2SLGBTQ+, and improved pathways to care for young people in racialized communities with emerging psychosis.

“Since the legalization of cannabis, many serious questions remain as to the potential harm of cannabis use on a person’s mental health,” said Chris Summerville, CEO of the Schizophrenia Society of Canada Foundation. “Sufficient research has indicated a link between cannabis and psychosis, and it is important to continue growing the knowledge base to help people in Canada make informed decisions about cannabis use.”

Nicola Otter, executive director of CCEIP, and Dr. Phil Tibbo, president of CCEIP agreed, adding that their organization “is extremely pleased to support a research project that will further the understanding of youth perceptions on cannabis use and its link to psychosis, with an emphasis on racialized and Indigenous populations.”

“This important research will identify knowledge gaps, strengthen the evidence base, and inform future projects and policy,” said Dr. Samuel Weiss, scientific director at the CIHR Institute of Neurosciences, Mental Health and Addiction. “These research teams will accomplish this in partnership with people who use cannabis — ensuring that people with lived and living experience of cannabis use are meaningfully involved in all phases and stages, including research design, execution, knowledge translation and dissemination, and evaluation.”

Taken together, these projects will help build a more inclusive evidence base that doesn’t only account for diversity, but embraces it.

Stay Connected

Follow MHCC on Facebook

Follow MHCC on Twitter

Follow MHCC on LinkedIn

Follow MHCC on Instagram

Subscribe to MHCC on YouTube

SOURCE Mental Health Commission of Canada

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CALGARY, AB, July 13, 2021 /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company“) (TSXV: HITI) (Nasdaq: HITI) (FRA: 2LYA), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, is pleased to announce that it has entered into a share purchase agreement (the “Agreement“) with the shareholders of 102105699 Saskatchewan Ltd. (the “Corporation“), pursuant to which High Tide will acquire all issued and outstanding shares of the Corporation for C$2,900,000 (the “Transaction“). As a result of the Transaction, High Tide will acquire a portfolio of six (6) retail cannabis locations in Regina, Saskatchewan, out of which one is operational and five are in various stages of construction and development and are all expected to be operational by the end of 2021.

“I am excited that we are adding these six new locations which will bring High Tide’s total retail footprint in Saskatchewan to ten stores upon completion and solidify our position as a leading cannabis retailer in the province,” said Raj Grover, High Tide’s President & Chief Executive Officer.  “Furthermore, within the City of Regina, there are currently only 13 operating retail cannabis stores of which one will be ours, with five more to come shortly.  This transaction is especially beneficial to High Tide because retail cannabis margins in Saskatchewan are higher than the Canadian average, and new licenses are difficult to come by given various municipal zoning restrictions in Regina,” added Mr. Grover.

TRANSACTION DETAILS

The Transaction, which is an arm’s length transaction, is subject to, among other things, receipt of required TSX Venture Exchange (“TSXV“) approval, Saskatchewan Liquor and Gaming Authority approval, and other customary conditions of closing, and is expected to close within 30 days. Pursuant to the terms of the Transaction, High Tide will purchase 100% of the issued and outstanding shares of the Corporation. The consideration for the 100% of the Corporation being acquired will be comprised of: (i) C$2,150,000 (the “Share Consideration“) in common shares of High Tide (“High Tide Shares“) on the basis of a deemed price per High Tide Share equal to the volume weighted average price per High Tide Share on the TSXV for the 10 consecutive trading days preceding closing of the Transaction (“Closing“); and (ii) C$750,000 in cash (collectively with the Share Consideration, the “Consideration“).  The cash portion of the transaction will be funded entirely with cash on hand.

ABOUT HIGH TIDE

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA,¹ with 89 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its established ecommerce platforms including Grasscity.com, Smokecartel.com and Dailyhighclub.com, and more recently in the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB). Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”,  “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to the potential effects of the Transaction on the business of High Tide and statements with respect to High Tide’s ability to close the Transaction. While High Tide considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the retail cannabis markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the retail cannabis industries generally; income tax and regulatory matters; the ability of High Tide to implement its business strategy; competition; currency and interest rate fluctuations; the COVID-19 pandemic nationally and globally and the response of governments to the COVID-19 pandemic in respect of the operation of retail stores, High Tide’s ability to close the Transaction, and other risks. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) High Tide’s financial condition and development plans do not change as a result of unforeseen events, (ii) there will continue to be a demand, and market opportunity, for High Tide’s product offerings; (iii) current and future economic conditions will neither affect the business and operations of High Tide nor High Tide’s ability to capitalize on anticipated business opportunities, although considered reasonable by management of High Tide at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements.

Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of High Tide in this press release may not be indicative of, and are not an estimate, forecast or projection of High Tide future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. High Tide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in High Tide’s public filings and material change reports, which are and will be available on SEDAR.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

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SOURCE High Tide Inc.

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Announces First Quarter Revenue Range of $10 to $12 Million

LAVAL, QC, July 15, 2021 /PRNewswire/ – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced its financial and operating results for the three-month and twelve-month periods ending March 31, 2021.

Fourth Quarter and Full Year Financial Highlights

• Reported fourth quarter revenue of $6.8 million compared to $9.5 million in the comparable period in fiscal 2020 and was a 127% acceleration versus the third quarter 2021 reported revenue of $3.3 million. Reported fiscal year 2021 revenue of $46.8 million, which increased 58% versus the full fiscal year 2020 of $29.6 million.
  
  
  
  
• Reported fourth quarter gross profit loss of $24.8 million compared to a reported gross profit loss of $1.1 million in the comparable period in fiscal 2020 and reported fiscal year 2021 gross profit loss of $36.2 million compared to a gross profit loss of $1.8 million for the fiscal year 2020.
  
  
  
  
• Reported fourth quarter net loss of $60.3 million compared to a reported net loss of $39.2 million in the comparable period in fiscal 2020 and reported fiscal year 2021 net loss of $168.6 million compared to a net loss of $60.9 million for the fiscal year 2020.
  
  
  
  
• Adjusted EBITDA loss for the fourth quarter was $38.2 million compared to an Adjusted EBITDA loss of $5.8 million in the comparable period in fiscal 2020. Adjusted EBITDA loss for fiscal year 2021 was $52.7 million compared to an Adjusted EBITDA loss of $19.9 million for the fiscal year 2020.

“Fiscal 2021 was the most challenging year in Neptune’s history due to the global pandemic and our transformation into a diversified, health and wellness CPG company,” said Michael Cammarata, President and Chief Executive Officer of Neptune Wellness. “As indicated in our first quarter revenue range of $10 to $12 million, we are now positioned to accelerate top-line growth and leverage costs. Neptune will continue driving organic brand growth through increased distribution and innovation, complimented by strategic, accretive acquisitions, which should lead to improved margins, and ultimately outsized shareholder returns longer-term.”

Fourth Quarter Business Highlights

• Entered an agreement with Société québécoise du cannabis (“SQDC”), Quebec’s sole legal retailer for recreational cannabis, for the sale of recreational cannabis products, which will be sold under the PanHash brand.
• Received amended license by Health Canada to sell dried cannabis flower and pre-rolled cannabis in Canada.
• Developed and licensed CoQ10-enhanced and CBD-enhanced fish oil supplements using our MaxSimil technology and licensed to existing customers.
• Acquired majority stake in Sprout Food, an organic baby and toddler snack food company. Sprout is currently the #5 organic baby food brand in the U.S. and #3 on Amazon.
• Raised gross proceeds of US$55 million in an equity offering to a syndicate of institutional investors.

Subsequent Events and Business Updates

• Entered a supply agreement with Alberta Gaming, Liquor and Cannabis (“AGLC”), the wholesaler and sole online retailer for recreational cannabis in Alberta. Combined with other provincial supplier agreements, Neptune can now sell recreational cannabis products, under its Mood Ring and PanHash brands, to nearly 1,900 licensed retail locations across Alberta, British Columbia, Ontario, and Quebec.
• Launched High-CBD capsules and oil under the PanHash brand in Quebec.
• Launched three new Mood Ring SKU’s, including dried flower in the province of British Columbia. Mood Ring Florida Citrus Kush is Neptune’s first branded flower product.
• Began selling Sprout organic baby foods into substantially all Target stores in the U.S. and Walmart.com, significantly increasing the brand’s distribution.
• Announced a multi-year licensing agreement between Sprout and CoComelon. With more than 110 million YouTube subscribers, CoComelon is the #1 children’s entertainment and educational show in the world.
• Given the first quarter of fiscal 2022 has ended, management announced it expects revenue for the fiscal quarter ended June 30^th to be within a range of $10 to $12 million. If achieved, this would represent a sequential growth rate of about 47% to 76% versus the fourth quarter reported revenue of $6.8 million.

Conference Call Details

Neptune will host a conference call with management on Thursday, July 15^th at 5:00 PM EST. The call will be webcast and can be accessed at www.investors.neptunewellness.com. To listen to the live call, please go to the website at least 15 minutes early to register, download and install any necessary audio software. The webcast will be archived for approximately 30 days.

The audited consolidated financial statements of Neptune Wellness Solutions Inc., which were prepared in accordance with IFRS, and the management discussion and analysis report for the year ended on March 31, 2021 have been filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml, and may also be found on our investor relations website at www.investors.neptunewellness.com. All amounts are in Canadian dollars except if specified otherwise.

The Company restated its previously reported condensed consolidated interim financial statements as at and for the three-month and six-month periods ended September 30, 2020 and as at and for three-month and nine-month periods December 31, 2020 with respect to recognition of revenue relating to two transactions, for which revenues were recognized during the three-month period ended September 30, 2020, that did not meet the conditions for recognition of revenue pursuant to the guidance of IFRS 15, specifically related to transfer of control of goods. Accordingly, the cost of sales, trade receivables and inventories were adjusted. The related inventories were written down during the third and fourth quarters of fiscal year 2021, resulting in a restatement for the three-month and nine-month periods ended December 31, 2020.

About Neptune Wellness Solutions Inc.

Headquartered in Laval, Quebec, Neptune is a diversified health and wellness company with a mission to redefine health and wellness. Neptune is focused on building a portfolio of high quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The Company utilizes a highly flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled to quickly adapt to consumer demand and bring new products to market through its mass retail partners and e-commerce channels. For additional information, please visit: https://neptunewellness.com/.

Disclaimer – Safe Harbour Forward–Looking Statements

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Neptune Wellness Solutions to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

NEPTUNE WELLNESS SOLUTIONS INC.

Consolidated Statements of Financial Position

As at March 31, 2021 and 2020

NEPTUNE WELLNESS SOLUTIONS INC.

Consolidated Statements of Loss and Comprehensive Loss

For the years ended March 31, 2021 and 2020

ADJUSTED EBITDA

Although the concept of Adjusted EBITDA is not a financial or accounting measure defined under IFRS and it may not be comparable to other issuers, it is widely used by companies. Neptune obtains its Adjusted EBITDA measurement by adding to net loss, net finance costs and depreciation and amortization, and by subtracting income tax recovery. Other items such as stock-based compensation, non-employee compensation related to warrants, litigation provisions, acquisition costs, signing bonuses, severances and related costs, impairment losses, write-downs, revaluations, and changes in fair values of the Corporation are also added back as they may vary significantly from one period to another. Adjusting for these items does not imply they are non-recurring.

Adjusted EBITDA¹ reconciliation, in thousands of dollars

Please note that non-employee compensation related to warrants and signing bonuses are new additions to the Company’s calculation methodology since the quarter ended September 30, 2020.  Signing bonuses did not occur previously, so no restatement of the previous periods was needed, but there were non-employee compensation expenses related to warrants in previous quarters; consequently, the amounts for the years ended March 31, 2021 and 2020 reflect the sum of those expenses for all quarters of respective fiscal years. Please also note that the change in fair value of the contingent consideration and the write-down of inventories and deposits were also added to the calculation of the adjusted EBITDA for the comparative periods. 

 

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SOURCE Neptune Wellness Solutions Inc.

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CALGARY, AB, July 15, 2021 /PRNewswire/ – High Tide Inc. (“High Tide“) (TSXV: HITI) (NASDAQ: HITI) (FRA: 2LYA) and Halo Collective Inc.(formerly Halo Labs Inc.) (“Halo“) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) are pleased to announce the closing of High Tide’s sale of KushBar retail cannabis assets to Halo (“Asset Sale“), on the terms set out in the amended and restated asset purchase agreement (the “Amended Agreement“), previously announced on September 1, 2020.

Under the Asset Sale, High Tide sold its three (3) operating KushBar retail cannabis stores (the “Portfolio“) to a wholly-owned subsidiary of Halo (“Halo KushBar“) for $5.7 million, payable in the form of:

The Halo Notes are secured by a share pledge granted by Halo over all of the shares of Halo KushBar, and are also to be guaranteed by Halo KushBar on a limited recourse basis through the pledge of the Portfolio.

The parties worked together to successfully secure the necessary regulatory licences and approvals from Alberta Gaming, Liquor and Cannabis (“AGLC“).

Halo will continue to engage High Tide to substantially oversee all aspects of its retail cannabis operations with respect to the Portfolio and will pay High Tide ongoing royalties for regulatory advisory services and retail management through blended monthly payments.

About High Tide Inc.

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA¹, with 86 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s retail segment features the Canna Cabana, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its established ecommerce platforms including Grasscity.com, Smokecartel.com and Dailyhighclub.com, and more recently in the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB).

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For more information about High Tide Inc., please visit www.hightideinc.com and its profile page on SEDAR at www.sedar.com. 

About Halo Collective Inc.

Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately nine million grams of oils and concentrates since inception. Halo continues to evolve its business and scale efficiently, partnering with trustworthy leaders in the industry, who value Halo’s operational expertise in bringing top-tier products to market.

Halo is led by a strong, diverse, and innovative management team with deep industry knowledge and blue-chip experience. The company is currently operating in the United States in California and Oregon. The Company sells cannabis products principally to dispensaries under its brands, Hush, Mojave, and Exhale, and under partnership or license with DNA Genetics, Terphogz and FlowerShop*, a cannabis lifestyle and conceptual wellness brand in which G-Eazy is a partner and key member of FlowerShop*.

As part of continued expansion and vertical integration in the U.S., Halo boasts several grow operations throughout Oregon and two planned in California. In Oregon, the Company has a combined nine acres of outdoor cultivation, including East Evans Creek, a six-acre grow site in Jackson County, Blue Sky Farms, a two acre grow site located in Jackson County and Winberry Farms, a one-acre grow site located 30 miles outside Eugene in Lane County. In California, the Company is building out Ukiah Ventures; a planned 30,000-square-foot indoor grow and cannabis processing facility including up to an additional five acres of industrial land to expand this indoor grow site. Recently, Halo partnered with Green Matter Holding to purchase Bar X Farm in Lake County, developing up to 80 acres of cultivation which would comprise the largest single licensed grow in California.

Halo also has acquired a range of software development assets, including technology platforms CannPOS, Cannalift, and, more recently, CannaFeels. Halo also owns the discrete sublingual dosing technology, Accudab. The Company intends to spin-off these assets along with its intellectual property and patent applications into its subsidiary Halo Tek Inc. and complete a distribution to shareholders on a record date to be determined by Halo.

For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.

Forward-Looking Information  

Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as “forward-looking statements” are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as “outlook”, “expects”, “intend”, “forecasts”, “anticipates”, “plans”, “projects”, “estimates”, “envisages, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or stating that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.

Such forward-looking statements are based on assumptions that may prove to be incorrect. Examples of assumptions in this news release include but are not limited to: (i) Halo’s issuance of the Earnout Note, if applicable, to High Tide; and (ii) Halo continuing to engage High Tide to substantially oversee all aspects of its retail cannabis operations with respect to the Portfolio and paying High Tide ongoing royalties for regulatory advisory services and retail management through blended monthly payments. While the Company considers these assumptions to be reasonable in the circumstances, there can be no assurance that such expectations will prove to be correct. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. The forward–looking statements contained herein are current as of the date of this news release. Except as required by law, neither High Tide nor Halo has any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.

 

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SOURCE High Tide Inc.

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THC.CSE

THCBF – OTC

TFHD.F

VANCOUVER, BC, July 14, 2021 /PRNewswire/ – THC BioMed Intl Ltd. (“THC BioMed” or the “Company” is pleased to announced that its Health Canada Licence has been  amended to include 3 additional strata units at its Acland road location. The 3 strata units include a new storage area for edibles as well as production rooms for edibles, including baked goods.

About THC

THC BioMed is one of Canada’s oldest active licensed cannabis companies. It was first licensed to deal with cannabis in 2013 under a Health Canada Section 56 exemption under the Controlled Drugs and Substances Act and has been a Licensed Producer under the current regime since 2016. It aims to be a leader in the beverage and edible space.

THC BioMed is a Cannabis Act Licensed Producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. The Company is on the leading edge of scientific research and the development of products and services in the medical and recreational cannabis industry. Management believes THC BioMed is well-positioned to be in the forefront of this rapidly growing industry.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC BioMed.  Forward-looking information is based on certain key expectations and assumptions made by the management of THC BioMed.  In some cases, you can identify forward-looking statements using words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions.  Forward-looking statements in this release are made as of the date of this press release and include that THC BioMed will be on the forefront of this rapidly growing industry. Although THC BioMed believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because THC BioMed can give no assurance that they will prove to be correct. THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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SOURCE THC BioMed

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• Achieved $11.7 million preliminary unaudited gross revenue in Q2 2021
• Increase in quarter over quarter revenue of 30%, Canadian sales increasing by 55%
• CGO to focus on enhancing existing sales and marketing capabilities, and helping accelerate growth and branding across North America

TORONTO, July 15, 2021 /PRNewswire/ – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX: TGOD) (US-OTC: TGODF), a leading producer of premium certified organically grown cannabis in Canada, today announced preliminary unaudited revenue for the second quarter of 2021, reflecting growth of 30% over the prior quarter, and an increase of 143% compared to the same period in 2020.  To further accelerate this growth, the Company is pleased to announce that Gayle Duncan has joined the Company’s Senior Leadership Team as Chief Growth Officer (“CGO”), a newly created position aimed at enhancing existing sales and marketing capabilities and increasing brand awareness across North America. 

Preliminary and unaudited consolidated gross revenue for the second quarter 2021 is expected to be approximately $11.7 million. This reflects the significant progress and growth achieved in Canadian operations and sales, which accounted for $10.3 million of the second quarter 2021 gross revenue total, an increase of 55% over Canadian sales in Q1-2021.

“The relaunch of our premium flower with the implementation of CleanCraft is being well received by the market. Combined with the national rollout of Organic Sugar Bush and the reopening of retail stores in key markets, it has contributed to a strong second quarter,” said Sean Bovingdon, CEO and Interim CFO of TGOD. “With the addition of Gayle, a seasoned marketer and proven sales growth enabler, I have even greater confidence in our ability to continue to deliver against our objectives.”

Ms. Duncan most recently provided consultative marketing services through her private practice to companies like Hydro One Telecom and Tim Horton’s, where she oversaw the Tim Card portfolio across North America and led the launch of the CIBC Tim Horton’s Double Double Visa Card. Prior to that, in her 30 year career launching, building and managing businesses, brands and teams, she held executive positions at agencies like Consumer Impact Marketing and Maritz Loyalty Marketing, and consulted with consumer brands such as IMAX, Bell Canada, and Green Gruff, a brand of CBD infused pet products sold in the United States.

The Company expects to release its consolidated interim financial results after market close on August 11, 2021.

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US–OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market.  Its organic cannabis is cultivated in living soil, as nature intended.  The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging.  In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as hash, vapes, organic teas and dissolvable powders.  Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.

TGOD’s Common Shares and warrants issued under the indentures dated December 19, 2019, June 12, 2020, October 23, 2020 and December 10, 2020 trade on the TSX under the symbol “TGOD”, “TGOD.WS”, “TGOD.WR”, “TGOD.WA”, and “TGOD.WB” respectively, and TGODF trades in the US on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about revenue, statements about production timing, statements about future growth, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “preliminary”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

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SOURCE The Green Organic Dutchman Holdings Ltd.

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VANCOUVER, BC, July 13, 2021 /PRNewswire/ – Chemistree Technology Inc. (CSE: CHM) (CSE: CHM.WT) (OTCQB: CHMJF) (the “Company” or “Chemistree”) is pleased to confirm that investee company ImmunoFlex Therapeutics Inc. (“ImmunoFlex”™), today announced that it has completed and analyzed its clinical trial of 21 patients, aged 60 to 70 years. The exploratory trial was the latest of several small trials where ImmunoFlex has focused on analysing immune system modulation at a genomic level resulting from treatment with compounds including CBD, THC, NAC and several other widely available compounds.

“The research we completed is exploratory but the results are consistent with our earlier research. We are excited about the potential application of these products. Restoring immunocompetence in people has the potential to treat several diseases including COVID long haul, other viral-induced diseases, and to provide vaccine potentiation. Additional studies in this area are ongoing,” said ImmunoFlex CEO Chris Wagner.

In this latest study, traditional blood chemistry markers were not informative; however, genomic analysis of the immune system’s T cell receptor recognition regions  (called CDR3’s) extracted from patient RNA showed immune system changes resulting from treatment. In one particular group, all patients showed consistent results across multiple genomic analyses. ImmunoFlex’s believes that the immune system changes observed in this clinical study are beneficial changes with the potential to improve immune system competence.

ImmunoFlex has submitted non-provisional (USA) and PCT (international) patent applications based on the research carried out by ImmunoFlex in 2020 and 2021.

Chemistree President, Karl Kottmeier commented “We are pleased that ImmunoFlex has made considerable progress since our foundational investment 12 months ago.  Their ground-breaking research is amongst the first we have seen showing demonstrable clinical benefit of CBD, THC and NAC for the immune system. We look forward to the next chapters in their development”.

About ImmunoFlex™

ImmunoFlex™ works with the immune system to strengthen, support, and enhance our body’s natural surveillance and response system. By combining existing compounds using genomics we create patent-pending, premium, immune-boosting products. Learn more at www.immunoflex.com

About Chemistree Technology Inc.

Chemistree Technology Inc. is an investment company with holdings in the U.S. cannabis sector, real estate, and a consumer-targeted biotechnology venture.  The Company’s corporate strategy is to focus on opportunistic investments across a broad range of industries, and is seeking to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services, mentoring and access to the Company’s management expertise. For more information, visit www.Chemistree.ca  

Advisory

The Company wishes to inform shareholders that there are significant legal restrictions and regulations that govern the cannabis industry in both Canada and the United States.

Cannabis-related Practices or Activities are Illegal Under U.S. Federal Laws

The concepts of “medical cannabis” and “recreational cannabis” do not exist under U.S. federal law. The Federal Controlled Substances Act classifies “marihuana” as a Schedule I drug. Under U.S. federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of safety for the use of the drug under medical supervision. As such, cannabis related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defence to any federal proceeding which may be brought against the Company. Enforcement of U.S. federal laws will be a significant risk to the business of the Company and any such proceedings brought against the Company may adversely affect the Company’s operations and financial performance.

Further information regarding the legal status of cannabis related activities and associated risk factors, including, but not limited to, risk of enforcement actions, risks that third-party service providers, such as banking or financial institutions cease providing services to the Company, and the risk that Company may not be able to distribute profits, if any, from U.S. operations up to the Company, are included in the Prospectus, the Company’s annual information form and other documents incorporated by reference therein and in the Company’s Form 2A listing statement filed with the CSE and available under the Company’s profile on SEDAR at www.sedar.com.

“Karl Kottmeier”

President 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “budget”, “scheduled” and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the Company’s reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

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SOURCE Chemistree Technology Inc.

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