Cannabis Stock News Daily Roundup December 20
Cannabis News
Aphria (NYSE: APHA) subsidiary ABP SA has inked a letter of intent with Argentinian state-owned Cannabis Avatãra Sociedad del Estado (CANNAVA) to enter into a cooperation agreement regarding the cultivation of cannabis that will expand the company’s Argentinian operations into the Province of Jujuy. Under the terms of the agreement, ABP will establish a facility for the cultivation and processing of cannabis, as well as for the manufacturing of cannabis derivative products, including but not limited to cannabis oil.
Pivot Pharmaceuticals (OTCQB: PVOTF) has signed an agreement with PURE Holding AG to supply Pivot with up to 3,000 kg annually of CBD isolate. PURE is a Swiss-based company that cultivates cannabis and produces high-quality CBD products and isolates.
Relay Medical Corp. (OTCQB: RYMDF) and AgraFlora Organics International (CSE: AGRA) have teamed up to create private company Glow Life Technologies Ltd. to pursue medical related technology opportunities in the global cannabis sector. The newly formed entity has commenced initial due diligence on industry related innovative technologies and expects to announce its management and industry expert support team early in 2019.
Alberta-based, retail-focused cannabis firm High Tide Inc (CSE:HITI) has closed the acquisition of all of the issued and outstanding shares of two entities SJV BV and SJV2 BV that together operate under the name Grasscity. Based in Amsterdam, Grasscity.com is the online store for smoking accessories and cannabis lifestyle products, with approximately 5.8 million site visits annually.
CaniBrands has entered into a binding agreement to acquire the cannabis lifestyle brand OMG Farms to make an entry into the California THC market. With the acquisition, CaniBrands gains access to state licensing, supply chain, and distribution by Alta River, the largest most capitalized cannabis distributor in the state. CaniBrands plans to enter the California market early 2019 with a line of THC and full spectrum cannabis-based products.
MassRoots, a technology platform for the regulated cannabis industry, is preparing the launch of a cannabidiol (CBD) product-focused review and e-commerce platform. According to the company, CBD offers significant medical benefits, but does not make people feel “stoned” and can counteract the psychoactivity of THC. It has been used to treat patients looking for relief from inflammation, pain, anxiety, psychosis, seizures, spasms, and other conditions without disconcerting feelings of lethargy or dysphoria. The legal CBD marketplace is expected to be valued at more than $20 billion by the year 2022.
NuggMD, a telemedicine platform that connects medical cannabis patients with licensed doctors online, is expanding its services to Nevada. The company says that state residents with a serious medical condition that warrants medical marijuana can now undergo an online consultation from the comfort and privacy of their home.
Bija Hemp has reported the harvest of 26,000 pounds of Colorado Seed Growers Association (CSGA) certified hemp seed, the largest domestically grown lot in the U.S. since the adoption of the 2014 Farm Bill. The move follows a licensing agreement between Bija Hemp’s parent company, International Hemp Solutions, and Poland’s Institute of Natural Fibres and Medicinal Plants in October 2017. Initially, Bija planted 183 acres, and after surviving a late summer hail storm, 161 acres were harvested, according to a press statement.
Medical Marijuana (OTC: MJNA) subsidiary Phyto Animal Health has launched its latest CBD pet product called Phyto Animal Health Vitality 3G Oral Concentrate. It is designed as an all-natural health management supplement for pets. “This new supplement will be targeted to veterinary clinicians and animal hospitals and we hope that it will help them learn about the many potential benefits of CBD,” Phyto Animal Health CEO Ian Quinn said in a press statement.
Harvest Health & Recreation (PNK: HTHHF) says that it won every license it applied for in Pennsylvania to open retail stores. The Department of Health issued a total of 23 dispensary permits for Phase II of the medical marijuana program. Each license permits the recipient to open up to three retail stores. Harvest will now have six months to become operational before it begins dispensing medical cannabis.
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