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Cannabis Stock News Daily Roundup January 16

ME Staff

Cannabis News

Cannabis producer FoliuMed has completed the construction of its first greenhouses on a 16-hectare grow site near Bogota, Colombia. In an area spanning 20 soccer fields, FoliuMed will produce over 70 tons of medicinal hemp and cannabis plants in 150 greenhouses. The plants will be processed into oils and sold as pharma-grade ingredients to international producers of cannabis medicine for stress, anxiety and sleep disorders, the company said in a press statement.

Canopy Growth Corp. (NYSE: CGC) has been granted a license by the New York State to process and produce hemp. The company plans to invest between $100 million and $150 to establish a hemp industrial park. Canopy is currently evaluating a number of sites in the Southern Tier of New York for the park.

Flower One Holdings (CSE: FONE) (OTCQB: FLOOF) announced a licensing agreement and brand partnership with Rapid Dose Therapeutics (CSE: DOSE) to launch a cannabis product in Nevada. Under the licensing agreement, Flower One will manufacture, distribute and sell Rapid Dose’s QuickStrip delivery technology for the cannabis market in Nevada.

Australis Capital (CSE: AUSA) has invested $3 million in Folium Biosciences, which produces, manufactures, and distributes hemp derived phytocannabinoids in the U.S. Folium also owns and operates the largest phytocannabinoid extraction and purification facility in the U.S., with plans for a new pharmaceutical division and the completion of their Canadian facility in 2019.

Beleave Kannabis Corp., a subsidiary of Beleave Inc. (CSE: BE) (OTCQX: BLEVF) has been authorized by Health Canada to sell cannabis oil products. “Oils will continue to make up a larger part of the cannabis market, especially as we ramp up for the regulatory changes coming in 2019. Receiving our sales authorization allows us to provide a wider array of products while providing Beleave with higher margins than dried flower,” Beleave’s Chief Science Officer Roger Ferreira said in a press statement.

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