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Marijuana

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Moves Into An Expansive Hemp Cultivation Deal

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) pronounced its entry into a new business agreement. In the hemp cultivation and purchase deal the business giant will become the financial sponsor for a co-operative. This hemp farming co-operative comprises of about six individual hemp license holders.

Company’s expenditure

Auxly Cannabis Group has already channeled about $4.5 million into the hemp cultivation undertaking. The total amount required to complete the process is $6 million, and it will soon give out the outstanding. The Hemp Farmers have made major strides in line with the farming activities. So far, they have covered about 300 acres with hemp. This is expected to yield hemp biomass of almost 100,000 kilograms.

Dosecann Inc is one of this company’s subsidiaries, and will be one purchasing the production of the Hemp Farmers. An official working with Auxly Cannabis Group says the subsidiary will purchase the product at a rather preferential rate. This will be something almost close to the wholesale rates on the market.

Planning for the future

The amount Auxly will be directing towards the development of the project will be useful. It will serve as pre-payment for purchases that Dosecann will be making shortly. Auxly says that initial hemp harvesting may start this fall if everything plays out according to plan. The next line of activity will, of course, be the testing, milling, and storage activities.

Upon delivery to Dosecann, the extraction and manufacturing process will start right away. The company hopes the end products will be of high quality. The Minister of Agriculture and Land for Prince Edward Island Bloyce Thompson has spoken about the matter. He is quite pleased with the latest developments. The company doesn’t take it for granted getting the opportunity to work with the finest farmers in Canada.

The President of Auxly Hugo Alves says that it was an honor for them to collaborate with farmers from the province of PEI. He opined, “I’m proud of our Dosecann team for finding this opportunity and being able to demonstrate our continued support for Atlantic Canada.”

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Marijuana

Auxly Cannabis Group Inc. (OTCMKTS:CBWTF) Had A Fruitful FY2018 Following The Legalization Of Medical Cannabis In Canada In Q42018

Auxly Cannabis Group Inc. (OTCMKTS:CBWTF) has provided its Q4 and FY2018 financial results as well as updates on the company’s outlook for 2019. The company has cash and cash equivalents of over $200 million which will enable the company to execute its objectives for 2019.

2018 milestones

Auxly Chairman and CEO, Chuck Rifici indicated that the company had a fruitful 2018 whereby they made tremendous progress in achieving the objective of becoming a vertically integrated company. The CEO stated that the cannabis company managed to build a diverse and a healthy cultivation pipeline with significant progress in value addition through the R&D of derived cannabis products via Dosecann. Equally, Auxly expanded its cannabis products distribution channels to the market and also the company enhanced its strategic assets through partnerships.

Following the legalization of medical cannabis in Canada the company has been working with partners to develop cost-effective and secure cannabis sources in a bid to take advantage of the growing cannabis market. The company invested in cultivation with the aim of diversifying the supply of cannabis derivatives as well as enhance proficient use of capital.

With the cultivation platform in place in 2018, the company laid more focus on securing expertise and infrastructure necessary for the production of cannabis derivatives for the Canadian market. The Dosecann wholly owned ultramodern processing facility plus a resourceful team has been the pillars that have enabled the company to produce cannabis products from raw cannabis. In addition, the acquisition of KGK Science Inc. by Auxly provided them with extra potential besides the ability of Dosecann to develop and produce high quality, safe and effective products.

2019 outlook

Going forward the company will continue to pursue other strategic distribution channels as they look to grow their brand and capture existing and new markets such as retailers, healthcare providers as well as provincial boards. They also intend to enhance their Saskatchewan province retail outlet with e-commerce capabilities.

The company already has hemp cultivation and extraction investments in Uruguay through its 80% owned Inverell S.A. and 100% owned Zeratol S.A.

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Marijuana

Growlife Inc (OTCMKTS:PHOT) Extends Yearly Decline

In the last trading session, the stock price of Growlife Inc (OTCMKTS:PHOT) declined more than  7% to close the day at $0.0155. The decline came at a share volume of 75.24 million compared to average share volume of 14.39 million.

The details

Cannabidiol is fast generating interest from the global investment community while turning a thrilling opportunity for venture and angel capital investments generating hopes that estimations are correct and that the CBD industry will surge 700% over the upcoming years. The Hemp Business Journal projected that the CBD market can hit $2.1 billion in customer sales by 2020 with sales of $450 million coming from CBD-hemp based sources.

That’s a jump of 700% from 2016. In 2015, the market for customer sales of hemp-derived Cannabidiol products stood at $90 million, and another $112 million in marijuana-based CBD items which were offered through dispensaries, bringing a total Cannabidiol market to $202 million in 2016r.

And as political barriers across North America continue to diminish and at the same time investment increases, the sector could witness a bigger leap in growth than projected. Active in the cannabis market include: Growlife, PotNetwork Holdings Inc (OTCMKTS:POTN), Namaste Technologies Inc (OTCMKTS:NXTTF), Cannabis Wheaton Income Corp (OTCMKTS:CBWTF), to name a few.

More recently PotNetwork Holding reported that its subsidiary unit, Diamond CBD, Inc., has posted its revenues for November. Surpassing 1.6 million, management moves into the final stretch of this year having advanced a consistent and strong trend for robust growth. With continual MoM advancement, Diamond premium quality CBD products have grown in popularity throughout this year and captured the attention of distinguished media sources and celebrities nationwide.

Unlike Growlife, the stock of PotNetwork Holdings surged more than 2% in the last trading session to close the day at $0.066. The stock has surged more than 2438% so far in this year.

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