PALM BEACH, Florida, July 25, 2019 /PRNewswire/ -- Major retailers are just beginning to embrace CBD thanks to sizable consumer demand. To date, Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney's DSW, CVS, and Walgreen's have all jumped at the opportunity. American Eagle just became the latest retailer to sell CBD, too. In fact, it just struck a deal with Green Growth Brands to sell CBD products in more than 500 stores and online, with sales expected to begin by October 2019. All of that is opening a wide range of opportunity for companies including The Yield Growth Corp. (OTCQB: BOSQF) (CSE: BOSS), HEXO Corporation (NYSE: HEXO) (TSX: HEXO), Cronos Group Inc. (NASDAQ: CRON), Aleafia Health (OTCQX: ALEAF) (TSX-V: ALEF), and The Supreme Cannabis Company Inc. (OTCQX:SPRWF) (TSX:FIRE).
The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced that it has entered into a letter of intent to license the worldwide rights for 8 cannabis product topical formulas to Antler Retail Inc. Antler's California subsidiary previously acquired licenses for 56 product formulas for the California market from Yield Growth. After developing testing and packaging plans with Yield Growth, Antler now wishes to expand its license for 8 of the products for the territory of the world. The fee of $800K payable to Yield Growth will provide worldwide licensing rights to the following men's products developed by Yield Growth: hair pomade, beard oil, shaving cream, deodorant and 4 essential oil colognes. Yield Growth anticipates it will generate additional revenues through the license as the LOI contemplates that Yield Growth will provide packaging, marketing, manufacturing and distribution services to Antler for the men's line. The LOI contemplate that the license fee may be paid in stock but other fees are to be paid in cash on a monthly basis. Antler is a related party to Yield Growth, as Krystal Pineo and Penny Green are both directors and significant shareholders of Yield Growth and Antler. The LOI anticipated that a definitive agreement will be entered into within 3 weeks and closing of the transaction will occur by August 31, 2019. FOR MORE INFORMATION ON BOSS/BOSQF, PLEASE VISIT: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
HEXO Corporation (NYSE:HEXO)(TSX:HEXO) has received a medical cannabis installation license. The license, issued by the Greek government, will allow HEXO MED to establish cultivation, processing and manufacturing facilities in the region of Thessaly, Greece. With HEXO Corp's experience in the industry, HEXO MED is poised to become a leader in the European cannabis landscape. "This is a major step for HEXO as we continue to execute towards becoming a top three global cannabis company," said Sebastien St-Louis, HEXO Corp CEO and co-founder. "Receiving licensing in Greece will allow us to bring know-how and brands powered by HEXO to the European market. The new facility will also drive value for current and future Fortune 500 partners by giving them access to licensed infrastructure internationally with the vision of capturing first-mover advantage in the burgeoning European cannabis market."
Cronos Group Inc. (NASDAQ:CRON) just announced it entered into an agreement to acquire an 84,000 square foot GMP compliant fermentation and manufacturing facility in Winnipeg, Canada from Apotex Fermentation Inc. The state-of-the-art facility, which will operate as "Cronos Fermentation", includes fully equipped laboratories covering microbiology, organic and analytical chemistry, quality control and method development as well as two large scale microbial fermentation production areas with combined production capacity of 102,000L, three downstream processing plants, and bulk product and packaging capabilities. "This acquisition will provide the fermentation and manufacturing capabilities we need to capitalize on the work underway with Ginkgo once the milestones under that partnership are achieved," said Mike Gorenstein, CEO of Cronos Group. "Together with Ginkgo, we are bringing innovation and the power of biological manufacturing to the cannabis industry, aiming to allow for cannabinoid production at large scale and with greater efficiency than is currently possible with traditional cultivation and extraction. We continue to be very excited about the opportunities ahead."
Aleafia Health's (TSX-V:ALEF)(OTCQX:ALEAF) wholly-owned subsidiary, Aleafia Farms Inc., secured a License Amendment under Health Canada's Cannabis Regulations authorizing cannabis cultivation for the entirety of the Company's Port Perry Outdoor Grow facility. The License immediately increases the Company's licensed and operational outdoor cultivation area from 292,000 sq. ft. to over 1.1 million sq. ft. As previously announced on June 10, 2019, Aleafia Farms received approval for cultivation in Zone 1 of the Outdoor Grow facility, and days later completed the planting of Canada's first legal, large-scale outdoor crop. The License now adds Zones 2, 3 and 4 which encompasses the full 1.1 million sq. ft. cultivation area. The License is effective as of July 12, 2019 and expires on October 13, 2020. The Company expects to commence planting the newly licensed area on July 15, 2019, using approximately 7,000 cannabis plants currently growing in pots in Zone 1. The Outdoor Grow operation will be overseen by Aleafia Health's proven, experienced cultivation team, which together have led the build-out and operations of seven cannabis cultivation facilities. "The immediate four-fold increase in Aleafia Health's licensed and operational cultivation area is our most significant milestone to date," said Aleafia Health Chairman Julian Fantino. "We will continue to lead the way in low-cost production. This exponentially increases our total cultivation footprint while securing and increasing product supply for medical cannabis patients."
The Supreme Cannabis Company Inc. (TSX:FIRE)(OTQXC:SPRWF) announced the launch of Supreme Heights, an investment platform based in London, UK focused on opportunities in the UK and Europe's CBD health and wellness space. Supreme Heights intends to make strategic investments in and provide support services to differentiated high-growth health and wellness businesses with focused brands and premium CBD offerings. Supreme Cannabis has launched Supreme Heights as a separate entity that will solely address opportunities in the UK and Europe's CBD health and wellness market. Supreme Heights will benefit from Supreme Cannabis' regulatory, product commercialization, supply chain, marketing and capital markets expertise and corporate support services. Supreme Cannabis' management team has immense experience supporting health and wellness companies operating in Canada and international markets. Supreme Heights will draw on the Company's experience launching premium brands.
"The rapidly evolving CBD markets in the UK and Europe present compelling investment opportunities given the promising environments for new health and wellness companies to establish differentiated brands and capture meaningful market share. Supreme Heights is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "Supreme Heights will benefit from our experience launching some of the most premium cannabis brands in Canada and from the strong leadership and the deep industry connections of our UK partners. We look forward to driving value for Supreme Cannabis shareholders through this investment platform."
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