Categories
Marijuana

Friday Night Inc (OTCMKTS:TGIFF) Granted License For Hemp Processing Facility

Friday Night Inc (OTCMKTS:TGIFF) has been granted the authority to put up its planned Hemp processing unit. The company has reported that together with its subsidiary, Infused MFG it has received an Industrial Hemp Handler Conditional Certificate.

The certificate was given by the Industrial Hemp program which is a branch of the Nevada Department of Agriculture (NDA). However, the company cannot start processing until it submits the required Fire Inspection as well as Health Authority documents.

Proceed with its plans

Friday Night Inc pleasantly revealed that it will hence carry on with its intended hemp processing facility. The facility which is situated in Las Vegas, Nevada is referred to as CBD Isolate Lab.

Friday Night Inc is a public company which is listed in Canada. It boasts the possession and management of assets meant for both marijuana and hemp which are based in Las Vegas, Nevada. It also runs a consulting company that focuses on the global marijuana and mining security administration. It holds a 91% stake in Infused MFG which develops organic CBD products based on hemp.

On June 6, 2018, the Canadian company stated that it planned to house a different CBD Isolate Laboratory in its newly bought production facility. The lab would be used to produce CBD extracts from the processing of hemp biomass. These would then be used to develop distillates, isolates, and whole spectrum oils.

CEO of Infused MFG Chris Rebentisch explained that getting Industrial Hemp Handler Certificate was instrumental in the exercise of instituting the Isolate Lab. He affirmed that the new business of getting CBD extracts from processing wholesale hemp was a promising venture.

Company’s performance

Friday Night made public its Q3 financial report for the period ending April 30, 2018. The company announced that its total sales amounted to $3,317,497 for the Quarter ending April 30. The Canadian firm generated a total revenue of $8,744,683 realizing a gross profit of $4,176,656 for the initial nine-month period.

The Q3 sales figure was $3,317,497, a significant rise from Q2 sales figure of $2,962,699. Friday Night’s Q3 gross profit stood at $1,463,550 compared to Q2’s which was at $1,579,127.

Friday Night Inc attributed the strong performance to its operations in the U.S market.

Categories
Marijuana

Pharmacan Cap Corp NPV (OTCMKTS:PRMCF) Issues Operational Update

Pharmacan Cap Corp NPV (OTCMKTS:PRMCF) has recently released its first operational update relating to its licensed producers (LPs) portfolio and ACMPR applicants since having an all-new executive management and consolidating ownership in The Peace Naturals Project, Inc. Along with this, the company has also released a summary of its third quarter results and highlights.

Operational Update

“While the trailing quarterly results reflect just the first 24 days of our consolidated ownership of Peace Naturals, the new Cronos team has been working tirelessly towards optimizing our operating companies, streamlining our financial investments, re-branding our corporate profile and establishing international distribution channels,” boasted Mike Gorenstein, Pharmacan Cap CEO.

Accordingly, the company has renewed its ACMPR production and sales license for 2,500 kg annually and has finished the installation of commercial power infrastructure. Moreover, the review of its retail pricing has resulted to a 37% surge in the average price per gram.

Pharmacan Cap is also pleased to announce the successful formation of new patient enrollment platforms. Consequently, the average new patient enrollment daily is now at 10.

As for the In the Zone Produce (ITZ), Pharmacan Cap has reiterated the successful purchase of an adjacent 17-acre property; harvest and test of various production batches at its renovated plant; Health Canada inspection as part of the application for a sales license; and ongoing expansion of ITZ facilities.

An Important Canadian Cannabis Industry Player

Pharmacan Cap is one of the leading players in Canada’s domestic cannabis industry along with the likes of Marapharm Ventures COM NPV (OTCMKTS:MRPHF), which has recently purchased the remaining 25% equity in EcoNevada, LLC. As a result, EcoNevada is now a wholly-owned subsidiary of Marapharm Ventures, which is constantly driving Canadian marijuana industry with its dedicated expansion prospects locally and internationally.

Like Marapharm Ventures, Pharmacan Cap is committed to its efforts to ramp up its production capacity and expand its presence not just in Canada but in other countries as well. Initiatives of these big players have a huge impact in the cannabis industry that can either make it or break it.

On Tuesday, Pharmacan Cap has closed at $1.20 while Marapharm Ventures has closed at $1.32.

Categories
Business

Terra Tech Corp (OTCMKTS:TRTC) Provides Company and Industry Update

Terra Tech Corp (OTCMKTS:TRTC) has announced that its CEO Derek Peterson was recently interviewed by SmallCapVoice.com, in which he provided an industry and company update. The audio interview has been made available on the company website. In his interview, Mr. Peterson discussed the recent election, cabinet appointments and the outlook of the company. He also discussed the state of the cannabis industry and the legalization in Nevada and California.

Separately, the CEO voiced his belief that the incoming government would respect the rights of states to make autonomous decisions, thereby allowing the cannabis industry to thrive. He also pointed out that the president-elect has already claimed that cannabis regulations would be decided on a state-by-state basis, which also indicate that he is aware of the economic benefits the industry has to offer.

Mr. Peterson also stated that a significant amount of tax revenues are being generated, through the industry, since approximately half of the US states have legalized marijuana for medical or recreational use. He also dismissed the beliefs that the new administration might not favor state-level legalization, by claiming that the overwhelming response in favor of marijuana legalization, observed on election day, would make lawmakers reluctant to stifle the new industry.

Terra Tech has also been gaining a lot of attention from analysts of the cannabis industry, which can be seen by the fact that its CEO was recently appointed to the Q&A panel of the Arcview Investor Forum, held in Las Vegas. The event was held on November 15, 2016 and is aimed at helping new and upcoming cannabis companies, network and collaborate with investors. The Arcview Angel Network, which organizes the forum, has over 550 accredited investors and has so far helped over 133 cannabis companies, in raising funds. The event is held on a quarterly basis and is comprised of in-person pitch, which are analyzed by the panel. Mr. Peterson’s inclusion hints that TRTC is being widely viewed as a successful company in the industry.

Terra Tech Corp (OTCMKTS:TRTC) closed at a share price of $0.292, at the end of the November 23 trading session, 10% higher than the day before.

Categories
Business

OrganiGram Holdings Inc (OTCMKTS:OGRMF) To Partner With The Trailer Park Boys

OrganiGram Holdings Inc (OTCMKTS:OGRMF) has announced that it has been chosen by the Trailer Park Boys, based in Nova Scotia, as their exclusive Canadian cannabis producer, brand developer and business partner. As per the agreement, the company would be working closely with the management at TPB Productions Ltd, so as to develop a competitive product portfolio, as well as branding and packaging for the users of recreational marijuana. Moreover, Oranigram would serve as the exclusive distributor for the products.

Ray Gracewood, the CCO of OGRMF, stated that the relationship would solidify their strategic building blocks, as they continue to plan for the legalization of recreational cannabis, in Canada. He also revealed that TPB had a vision to develop a national brand and it was exciting to know that OGRMF could assist them. Mr. Gracewood also reaffirmed that OgraniGram would continue to supply world class cannabis, to its patient base. He clarified that the said partnership was aimed at utilizing opportunities that would be available, once recreational cannabis has been legalized.

It should be noted here that TPB was represented by the Sonic Entertainment Group, in this transaction. Louis Thomas, the president of Sonic Entertainment, stated that they were carefully monitoring the situation in Canada, to understand how best they could enter the market. He further claimed that the timing of this partnership and the selection of OrganiGram was decided after meeting with the executive team of OGRMF. The agreement between the two entities would be valid for a period of 5-years.

The announcement comes just a week after OgraniGram announced its financial results for the 3Q2016 and also provided an operational update. In the update, the company stated that it has started construction of its fully funded expansion plans, announced earlier, which are due to be completed by fall 2017. Once complete, the expanded facility would be able to deliver a production capacity of an estimated 17,235 kg of flower per year, which translates to over $100 million in annual sales.

OrganiGram Holdings Inc (OTCMKTS:OGRMF) had a trade volume of 387,421 and gained 26.07%, during the November 23 trading session, to close at $2.47 per share.

Categories
Marijuana MMJ

Medical Marijuana Inc (OTCMKTS:MJNA)’s Mexican Arm Featured In Newsweek

Medical Marijuana Inc (OTCMKTS:MJNA) has stated that its Mexican subsidiary, HempMeds has been featured in Newsweek. The company stated that the coverage focused on Real Scientific Hemp Oil-X, a non-psychoactive, THC free hemp based CBD product from HempMeds. It should be noted here that RSHO-X is the first federally approved product in Mexico and was featured in the October 24 version of Newsweek.

In addition to this, the story features the legal status of the cannabis industry in Mexico, the growing market in California and the story of a little girl suffering from epilepsy and how RSHO-X was able to help her. Moreover, the article also features details of MJNA’s growing presence in the Latin American market and how quickly HempMeds is gaining popularity in the country. The CEO of Medical Marijuana, Dr. Stuart Titus, has claimed that the expansion in Latin America is poised to bring substantial economic growth to the company.

Separately, the company announced that HempMeds has opened a new office in Monterey, Mexico, which would be the new headquarters for its Mexican operations. Added to this, the company has also added Carlos Gonzales, as the new COO of HempMeds. Specifically, Mr. Gonzales would focus on improving the sales and distribution of products, from MJNA’s Mexican subsidiary, specially RSHO-X. Dr. Titus commented on the recent developments, stating that the new office provides them with the opportunity to conduct on-ground operations. He further stated that this would help strengthen their relations with the Mexican government, as they continue to educate lawmakers and health officials about the benefits of CBD.

The CEO also welcomed Mr. Gonzales to the management team and expressed confidence in his ability to perform in the Mexican market. It should be noted here that currently RSHO-X has been cleared for the treatment of neuropathic conditions, related to diabetes. Moreover, MJNA believes that its research could possibly lead to the discovery of CBD based treatments for neuro-degenerative and neurological disorders.

Medical Marijuana Inc (OTCMKTS:MJNA) completed the November 23 trading session with a gain of 30.12% in terms of its share value, to reach a close at $0.108 per share.

Categories
Marijuana MMJ

General Cannabis Corp (OTCMKTS:CANN) Appoints New Director To The Board

General Cannabis Corp (OTCMKTS:CANN) has announced that Duncan Levin has been elected to the company’s board of directors. Mr. Levin is currently the managing partner of Tucker Levin, PLLC and is also a former federal prosecutor. Added to this, he is an expert in the legal aspects of anti-money laundering, anti-fraud and internal investigations. However, more recently he has been working as a consultant for businesses facing anti-fraud, regulatory issues and other complex challenges.

Robert Frichtel, the CEO of CANN, stated that the new director’s background and expertise would help elevate the company, to a whole new level of professionalism. He further went on to state that Mr. Levin’s unique perspective on legal matters would help General Cannabis in moving through uncharted territory. Mr. Frichtel also voiced his optimism by stating that the new director could help General Cannabis in becoming a premier consultant in this field.

Commenting on his appointment, Mr. Levin claimed that General Cannabis is destined to become a leader in the industry and it was a delight to join the board at a time of immense growth. He also stated that the cannabis industry was one of the fastest growing industries in the country and with the wide array of support services offered by General Cannabis, it could very well become a leader in the field. Mr. Levin’s appointment comes soon after the company attended the Marijuana Business Conference & Expo, in Las Vegas.

CANN attended the event on November 16-18, where it got the opportunity to meet investors and other business leaders from the industry. It should be noted here that this conference is considered to be one of the premier marijuana conferences of the year. The event was attended by almost the entire management of the company. Moreover, General Cannabis also hosted an after party on November 16, in honor of the legalization of marijuana in several states.

General Cannabis Corp (OTCMKTS:CANN) lost 11.01% of its share value, during the November 22 trading session, to reach a close at $3.07 per share. The stock had a trade volume of 557,331, during the session.

Pin It on Pinterest