PALM BEACH, Florida, December 8, 2016 /PRNewswire/ --
The trickle down effects of the exploding global cannabis industry continue to be felt across various sectors, particularly in that of the lighting industry as companies supply marijuana producers with state of the art growing services & products, such as LED lighting systems to need growing cultivation needs. Sector related Canadian performers this week include: Arcturus Growthstar Technologies Inc. (CSE: AGS.CN), Aphria Inc. (TSX-V: APH.V), OrganiGram Holdings Inc. (TSX-V: OGI.V), Canabo Medical Inc. (TSX-V: CMM.V) and THC Biomed Intl Ltd. (CSE: THC.CN).
Arcturus Growthstar Technologies Inc. (CSE: AGS.CN) (OTCQB: AGSTF) announces 25,000 SQ Ft $5 Million Dollar "LED" Vertical Farming Project. Arcturus Growthstar is pleased to announce that it has partnered with CBO Financial, Inc. ("CBO") for the development and operation of a major "LED" vertical farm project in Baltimore, Maryland. Arcturus is also pleased to announce that it has concurrently signed a Letter of Intent ("LOI") to lease 25,000-sq ft of commercial shell space from Volunteers of America Chesapeake to accommodate the Baltimore farm. Read this and more news for Arcturus at: http://marketnewsupdates.com/news/agstf.html
Volunteers of America Chesapeake ("VOAC"), one of the largest and most respected nonprofits in the region, owns a building in Baltimore, MD that will undergo additional improvements to accommodate Arcturus' Controlled Environment Agriculture ("CEA") technology, which uses LED lights to grow plants on vertically stacked levels. As a partner in this indoor farm, VOAC has agreed to contribute generous rent concessions to Arcturus. The farm will be co-located in a residential reentry center, which helps ex-offenders reenter society and the workforce after serving federal prison sentences. The farm will provide job training and therapeutic opportunities for VOAC's residents. Arcturus, CBO and VOAC intend to use this Baltimore model to expand the Company's CEA technology and training and therapeutic programs developed by VOAC into other markets throughout the United States.
Arcturus previously announced that CBO would act as the Company's financial advisor with respect to New Market Tax Credits (NMTC) for certain vertical farming projects. As part of this Baltimore farm transaction, CBO Financial will be arranging for $5,000,000 in NMTC based financing. CBO will also plan, co-finance, and perform day-to-day operations at the farm, and Arcturus will provide the system design, off-take agreements, co-finance, and offer ongoing O&M support. The Baltimore Farm is expected to be a showcase for Arcturus' LED horticulture lighting technology and the first of many projects that CBO and the Company will work on together in collaboration with Volunteers of America Chesapeake.
Other Canada Cannabis with market performances of note:
Aphria Inc. (TSX-V: APH) closed up over 4% on Wednesday at $5.23 trading over 1.9 Million shares by the market close. Tetra Bio-Pharma Inc.(TBP) is conducting a non-brokered private placement with Aphria Inc. (APH.V) of 5,000,000 units at a price of $0.20 per unit for aggregate gross proceeds of $1,000,000. Each unit will consist of one common share and one non-transferable warrant, with a whole warrant entitling the holder to purchase one common share of the Company at a price of $0.26 per share for a period of 3 years following the closing date. The warrants are subject to an accelerated expiry if the Company's shares trade above $0.45 for thirty (30) consecutive trading days then the warrants will expire in 30 days if not exercised.
OrganiGram Holdings Inc. (TSX-V: OGI) closed up on Wednesday $3.41 trading over 1.4 Million Shares by the market close. OrganiGram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, OrganiGram Inc., is a licensed producer of medical marijuana in Canada. OrganiGram is focused on producing the highest quality, condition specific medical marijuana for patients in Canada.
Canabo Medical Inc. (TSX-V: CMM) closed up over 12% on Wednesday at $1.16 trading over 1.78 Million shares by the market close. Canabo Medical Inc. is a Canadian corporation incorporated on March 19, 2014. Canabo wholly owns and operates Cannabinoid Medical Clinics, Canada's largest referral-only clinics for medical cannabis.
THC Biomed Intl Ltd. (CSE: THC) closed up over 7% on Wednesday at $1.02 trading over 720,000 shares by the market close. THC BioMed Intl Ltd. focuses on the cultivation of medical marijuana in Canada. The company intends to research and develop technologies, products, and services related to medical marijuana.
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