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Cannabis Stock News Daily Roundup August 30

ME Staff

Canopy Rivers (TSXV: RIV) (OTC: CNPOF) announced that its portfolio company TerrAscend (CSE: TER) (OTCQX: TRSSF) has signed agreements to acquire ABI SF, which operates a Bay Area cannabis cultivation facility and owns the State Flower brand. State Flower is known for its ultra-premium cannabis flower and is currently sold through dispensaries in California and Nevada.

Vapen MJ Ventures (OTCQX: VAPNF) (CSE: VAPN) announced a new product collaboration with Mexican-American rapper and singer Baby Bash. Vapen is releasing a “Baby Bash Powered by Vapen” line of Vapen Pen Batteries and Bash Berry, a new cannabis cartridge flavor. The batteries, available in gold and rose gold, may be used for CBD or Cannabis products.

48North Cannabis (TSXV: NRTH) (OTC: NCNNF) has closed the agreement to acquire Rare Industries, a U.S. multi-state vape technology brand known as Quill. The acquired company has product distribution in Oregon and Washington and is planning to expand to California and Nevada in the near future. The acquisition marks 48North’s first foray into the United States.

Geyser Brands (TSXV: GYSR) released its first-quarter financial results for the three months ended June 30. Net loss was C$785,407 for the quarter, compared to C$414,688 for the same period of 2018. The company generated its first revenues of C$79,434 during the quarter, while gross profit was C$64,690, representing a gross profit margin of 81%. Geyser is engaged in building health-based hemp CBD consumer products in the nutraceutical, cosmetics, food & beverage and pet sectors world-wide.

Indiva Limited (TSXV: NDVA) (OTCQX: NDVAF) reported its financial and operating results for the second quarter ending June 30. Net revenues totaled C$173,500 versus nil in the second quarter of 2018 and C$241,369 in the first quarter of 2019 The company posted a loss of C$2.3 million, versus C$2.1 million in the same period last year.

Khiron Life Sciences (TSXV: KHRN) (OTCQB: KHRNFhas entered into an exclusive endorsement agreement with the Colombian Association of Gerontology and Geriatrics (CAGG), a scientific and professional association dedicated to the advancement of health and social services for aging populations and geriatric patients at all levels of care.

VIVO Cannabis (TSX-V: VIVO) (OTCQX: VVCIF) released its second-quarter 2019 financial and operating results. The company revenue slightly increased to C$5.3 million compared to the first quarter of 2019 as product supply remained essentially flat, according to a company statement. The harvesting and packaging of the company’s increase licensed capacity is expected to result in growth in net revenue in the second half of 2019.

Sunniva (CSE: SNN) (OTCQB: SNNVFannounced a private placement of $7.50 million (approximately C$10 million) for a total of 7.50 million units of the company and an initial first tranche closing of $1.50 million (approximately C$2.0 million) for a total of 1.50 million units. Each unit consists of a principal amount of promissory notes and common share purchase warrants of the company.

Inner Spirit Holdings Ltd. (CSE: ISH) (OTC: INSHFannounced that its subsidiary Spirit Leaf entered into exclusivity agreements with two individuals that have been selected to apply for licenses to operate cannabis retail stores as a result of the Alcohol and Gaming Commission of Ontario’s (AGCO) lottery. The agreements are subject to approval by the AGCO.

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