PALM BEACH, Florida, August 23, 2017 /PRNewswire/ --
As the CBD Market continues to evolve and expand through new products and research, nutraceutical science is becoming more heavily involved. With the latest development and infusion of CBD-based products and nutraceuticals using Cannabinoid, science is opening the door to a new level of high quality products for consumers. Active companies this week in the industry include: CNRP Mining Inc. (OTC: CRPGF) (CSE: CND), American Cannabis Company Inc. (OTC: AMMJ), Isodiol International Inc. (OTC: ISOLF) (CSE: ISOL), Medical Marijuana Inc. (OTC: MJNA) and Hemp Inc. (OTC: HEMP)
CNRP Mining Inc. (OTC: CRPGF) (CSE: CND.CN) is pleased to announce that further to the Company's press release on July 21, 2017 and in conjunction with its non-binding letter of intent (the "LOI") to acquire X-SRAYS (the "Transaction"), it has advanced USD $300,000 to X-SPRAYS. Furthermore, CNRP anticipates signing a definitive agreement for the acquisition in September 2017. Read this and more news for CRPGF and its X-Sprays products at http://www.marketnewsupdates.com/news/crpgf.html
Through the Transaction CNRP will acquire all of the issued and outstanding shares of 1127466 B.C. Ltd. which holds, through a wholly-owned subsidiary, a world-wide, exclusive license for X-SPRAYS - a brand of state-of-the-art life-enhancement products administered via an optimal oral spray delivery system.
The Transaction remains subject to certain closing conditions, including, completion of due diligence, the negotiation and signing of a definitive agreement and obtaining all necessary approvals, including, approval of the respective boards, the approval of the CSE, and if applicable, shareholders of the Company. There can be no guarantees that the Transaction will be completed as proposed or at all. Private Placement - In connection with the Transaction, the Company is also pleased to announce that it intends to close its previously announced non-brokered private placement offering of up to 10,000,000 shares (the "Shares") at a price of $0.30 per Share for gross proceeds of up to $3,000,000 (the "Offering") in early September 2017. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Offering is not subject to a minimum aggregate amount of subscriptions.
In other industry news of note:
American Cannabis Company Inc. (OTCQB: AMMJ) closed up over 17% on Tuesday with over 1.4 million shares traded on the day. The company recently announced it has secured a client in the state of California. This client seeks to acquire a license that will permit them to dispense medical cannabis to patients. ACC has been contracted to complete operational planning activities, to provide conceptual design work for a retail dispensary location, to assist with 2017 city permitting, and to help with 2018 state application completion. Upon the client being awarded a city permit, ACC will be further retained in the dispensary deployment process where the consulting firm will provide facility staffing solutions, a customized set of operational workflow procedures, and remote operational monitoring support. ACC expects to leverage this contract to secure additional revenues through long-term consulting agreements and future sales of ancillary products, as this client is looking to seek licensure for the California recreational/adult-use cannabis program in the near future.
Isodiol International Inc. (OTC: ISOLF) (CSE: ISOL.CN) came to a close up 4.76% on the CSE and up over 5% on the OTC on Tuesday. Isodiol International Inc. develops and manufactures consumer products in Canada and the United States. It offers functional beverages, anti-aging luxury skin care products, and cannabinoid nutraceuticals. The company distributes its products to health food stores, specialty markets, health professional offices, spas, and cannabis dispensaries, as well as directly to consumer channels. It also sells its products online.
Medical Marijuana Inc. (OTC: MJNA) closed Tuesday up slightly with over 8.2 million shares traded on the day. The company recently announced that the State of Mexico's government has purchased the company's Real Scientific Hemp Oil-X™ (RSHO-X™) CBD hemp oil products from its subsidiary HempMeds Mexico® to treat 11 of its citizens suffering from varying indications including Refractory Epilepsy and Lennox Gastaut-Syndrome. This is the first time a government in Mexico has purchased CBD products for its citizens. The State of Mexico's Governor Eruviel Avila distributed HempMeds Mexico's flagship product RSHO-X™, a CBD hemp oil with zero THC, to the patients at the inauguration of a new clinic located in Ecatepec on August 17th.
Hemp Inc. (OTC: HEMP) closed up just over 4% on Tuesday with over 15.9 million shares traded on the day. The company recently announced its NuAxon Tech CO2 Supercritical Extractor has officially launched and is in its first phase of operation. The company previously purchased the NuAxon Tech Industrial CO2 Supercritical Extractor from NuAxon BioScience, manufacturer and the producer of the world class, large capacity CO2 Supercritical Extraction equipment as part of a joint venture with Freedom Leaf, Inc. ( OTCQB : FRLF ), NuAxon's global exclusive distributor for the cannabis/hemp industry. After thorough testing and debugging, corporate executives are now commencing their "hemp oil extraction infrastructure," one of the company's current four underlying industrial hemp infrastructure components.
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