NEW YORK, April 26, 2019 /PRNewswire/ -- Over the years, government health agencies have approved thousands of different drugs to treat a variety of conditions while hundreds of illegal drugs circulated the globe. International agencies and local governments alike tried to stamp out the plethora of drugs and had included cannabis in the widespread prohibition. However, that decision has now turned out to have been premature, as the cannabis plant has recently become a global phenomenon thanks to its therapeutic effects. Researchers have since shown that cannabis can treat certain medical conditions which include chronic pain, cancer, Alzheimer's, Parkinson's, depression, anxiety, and even depression. To date, a handful of countries have already fully legalized medical cannabis while others remain countries hesitant on approving cannabis as a medicine even though the plant's derivative, CBD or cannabidiol, is generally more accepted. CBD does not offer consumers psychoactive effect like its counterpart, marijuana, as the derivative's chemical structure has certain differences. As more research adds credibility, CBD continues to have a profound impact on the North American region, in large part because of the U.S. and Canada. For example, the U.S. has already approved a CBD-based drug, Epidiolex, to be used to treat epilepsy among children. Furthermore, the U.S. had also passed the U.S. Farm Bill in late 2018, essentially legalizing CBD throughout the nation. Canada then moved to legalize cannabis entirely in 2018 and has continued its growth since. Although cannabis is legal, Canada's government has imposed strict regulations on how many licenses are provided and how the operations of cannabis companies are handled. Even while the cannabis industry is still rapidly growing, the CBD marketspace has stood out: according to data compiled by Brightfield Group, the U.S. CBD market is expected to reach USD 22 Billion by 2022. AREV Brands International Ltd. (CSE: AREV), The Supreme Cannabis Company Inc. (OTC: SPRWF) (TSX: FIRE), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), Choom Hldgs Inc. (OTC: CHOOF) (CSE: CHOO), Cannamerica Brands Corporation (OTC: CNNXF) (CSE: CANA).
CBD has many versatile uses besides its medical applications. Consumers within the health and wellness and even beauty industry are increasingly becoming aware of CBD and its benefits. For instance, within the health and wellness marketplace, consumers can find CBD-based creams which treat skin conditions. Furthermore, CBD also comes in other forms such as flower, oils, and tinctures to satisfy a variety of consumer's demands. As the CBD industry continues to grow, new products like beverages and foods can also be seen emerging. "A few years ago almost no one knew what hemp-derived CBD was, it was sold by mostly small brands of tinctures online and through head shops. All of a sudden, CBD is everywhere - it is both a trendy, new ingredient in drinks, face creams and pet treats and an answer to the prayers of so many people suffering from medical conditions ranging from epilepsy to anxiety and chronic pain. It rides the waves of so many global food and health trends, as a substitute for opioids, towards more natural health alternatives and functional ingredients," said Bethany Gomez, Managing Director at Brightfield Group.
AREV Brands International Ltd. (CSE: AREV) is currently listed on the Canadian Securities Exchange under the ticker (CSE: AREV). Yesterday, the Company announced that it, "has worked closely with Silvertree Investments of Los Angeles, California over the past year. "Silvertree" has been actively researching, identifying and developing a strategy for AREV Brands USA Inc. to enter into the California market. A process that has involved very extensive due diligence and networking.
This lengthy process has resulted in Silvertree identifying and commencing negotiations with principle license holders in Los Angeles, King City, Long Beach, California City, San Diego and Pasadena. The mandate is to enter into 50/50 partnerships with the license holders who will continue to operate and join our network of licenses in the State.
This plan would create a select group of license holders that link with each other to form the largest alliance and network of cultivation, processing, manufacturing and distribution organization south of San Francisco in the State of California.
The combined license holders would gain access to the inside (two) cover pages in High Times Magazine and access to the seed vault owned by BC Bud Depot, a wholly owned asset of AREV. The High Times ad space drives traffic and customers to the BC Bud Depot website which in turn will direct orders to the licensed partner in the customer's county that the license holder serves.
BC Bud Depot supplies the genetics to the partners which ensures consumers receive quality products from a trusted and reliable source. AREV will work with the license holders of extraction licenses and Alternative Extracts Inc. to bring proprietary extraction to the network.
The company has issued 800,000 shares to settle $200,000.00 in debt with Silvertree. These costs were incurred in the normal course of business associated with the consulting work discussed above. The company also announces it has settled $32,326.88 in debt with 0991843 BC LTD. by the issuance of 129,307 shares all shares for debt are being issued at $0.25. This issuance is for the acquisition of two-piece encapsulation equipment, a 1000 litre ribbon blender and a tea bag machine. This equipment is in addition to the recently acquired softgel system the company owns and compliments the production equipment to be installed in the Sorrento processing facility due to be completed by the fall of 2019.
Mike Withrow, CEO stated, "We continue to methodically build on our strategy of providing the Cannabis industry with superior genetics, extraction, and formulations that are produced and sold via licensing partnerships on an International platform. To accomplish this, we are only working with seasoned professionals in the Cannabis industry. We are also very carefully managing our capital and share structure when deals are being structured."
About AREV Brands International Ltd.: AREV Brands International Ltd. ("AREV") produces and delivers functional compounds and ingredients from its extraction systems. AREV is revolutionizing the current delivery method of terpenes, cannabinoids and flavonoids. These premium ingredients and formulations are used in products targeted for sale in the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets. AREV innovates through extraction to produce extracts from specific selected plant and exude from trees that address 5 areas of health including Anxiety, Pain Management, Insomnia, Central Nervous System Disorders & Libido."
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The Supreme Cannabis Company Inc. (OTCQX: SPRWF) (TSX: FIRE) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that its wholly-owned subsidiary, 7ACRES, had obtained Health Canada approval for six additional flowering rooms totaling 60,000 sq. ft. of additional production space at its facility in Kincardine, Ontario. Total flowering room space at 7ACRES increases from 120,000 sq. ft. to 180,000 sq. ft. and 7ACRES' annual production capacity estimate increases from approximately 17,500kg to 26,250kg. As noted in previous communications, Supreme Cannabis expects that with further production efficiencies following the licensing of all 25 flowering rooms, 7ACRES' potential capacity is anticipated to reach approximately 50,000kg per year by mid-2019. "Today's announcement is a major milestone which represents a 50% increase in our estimated annual production capacity. With 18 of 25 flowering rooms at 7ACRES now approved by Health Canada, production space at our facility is near the finish line," said John Fowler, President and Founder of Supreme Cannabis. "With our multi-award winning 7ACRES brand now available in 8 out of 10 provinces, we look forward to completing construction of the facility so that cannabis enthusiasts coast-to-coast will be able to enjoy what we believe to be the highest-quality cannabis grown at scale in the country."
Auxly Cannabis Group Inc. (OTCQX: CBWTF) (TSX-V: XLY) is a vertically integrated cannabis company with diverse operations across Canada and Uruguay and a platform spanning the entire cannabis value chain. Auxly Cannabis Group Inc. recently announced that its wholly-owned subsidiary, Robinsons Cannabis Inc., had been granted standard cultivation and processing licenses by Health Canada pursuant to the Cannabis Act and Cannabis Regulations. The licenses give Robinsons the ability to begin cultivation at its fully constructed 27,700 sq. ft. facility in Kentville, Nova Scotia, which was purpose-built to produce high-quality cannabis. Led by experienced head grower Andrew Robinson, Robinsons is uniquely positioned to capture the attention of luxury cannabis consumers, with operations built on a devotion to uncompromising quality and a premium cannabis experience. Robinsons products have consistently ranked the highest in terms of cannabinoid content, terpene content and overall quality when independently tested against 5,000 products supplied by various growers licensed in accordance with Canadian cannabis regulations. Hugo Alves, President of Auxly said: "This is a big milestone for one of our key subsidiaries and member of the Auxly family. We know that Andrew and his team are going to produce some of the best cannabis flower available in Canada and we can't wait to share it with Canadian consumers. Robinsons is all about an unwavering commitment to quality. We hope to show cannabis connoisseurs, who to date have been generally disappointed with the flower offerings in the market, that passionate artisans operating in the regulated industry can produce an incredible product that reflects their pride and craftsmanship."
Choom Hldgs Inc. (OTCQB: CHOOF) (CSE: CHOO) is an emerging adult use cannabis company whose mission is to establish one of the largest retail networks in Canada and the United States. Choom Holdings Inc. recently announced that it had signed a memorandum of understanding with Better Choice Company, Inc. for the exclusive Canadian distribution rights to Better Choice's cannabidiol Bona Vida brand of products targeted for animal health and wellness once approved for sale in Canada. The terms of the MOU are not material. Under its Bona Vida brand, Better Choice offers a suite of CBD pet-focused products in the form of oils and soft chews with several formulations designed to aid the state of good health and well-being in pets. Bona Vida has formulations which specifically target animals Relaxation & Heart Support, Muscle & Joint, as well as, Skin & Body. "We are excited that Better Choice has chosen us as their exclusive distributor in Canada for their pet focused CBD products," stated Chris Bogart, President and Chief Executive Officer of Choom. "We recognize the importance of growing our brand portfolio and having the sole distribution rights for Better Choice products helps us achieve that in an entirely new market on the horizon in pet use products. From what we know of in the United States, the CBD products for pet use market has proven to be a high margin business. As the normalization of cannabis-based products in Canada grows, consumers will begin to shift towards these new natural alternative treatments for their pets."
Cannamerica Brands Corporation (OTCQB: CNNXF) (CSE: CANA) is a U.S. marine veteran founded and operated portfolio of cannabis brands with licensing agreements in the states of Colorado, Nevada and Maryland. The Company recently announced that it had entered into a binding letter of intent to create a joint venture with Sericea Labs S.A. de C.V. and CBDistribution Company Ltd. with the intention of building a facility in Mexico for importing and warehousing licensed CBD products as well as CBD oils and tinctures destined for refining. When and if permitted under Mexican laws, the Company, SERICEA and CBDC also plan on acquiring, importing and cultivating industrial hemp biomass for extraction into CBD isolate to be used for multiple product lines which utilize CBD. "We are very pleased to enter the Latin American region with our partners in Mexico. This marks an exciting step for our brand's expansion in the international CBD marketplace," said Dan Anglin, Chief Executive Officer and Co-Founder of CannAmerica. "Coupled with our partnership in Europe, global distribution of CannAmerica products is our key focus in 2019."
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