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Cannabis Stock News Daily Roundup January 24
Cannabis News
Confirming an unsolicited take-over bid by Green Growth Brands (OTCMKTS:GGBXF) to acquire all outstanding common shares of the company, Aphria (NYSE: APHA) has urged shareholders to take no action on the offer until the board of directors has made a formal recommendation to shareholders. The company said that the independent committee of its directors will consider it with its advisors before making a formal recommendation to the board.
Digipath (OTCQB: DIGP), a testing laboratory, data and media firm focused on developing the cannabis and hemp markets, has entered into an agreement to provide fully-functional potency testing laboratories for hemp production sites owned by Hemp (OTC: HEMP) in North Carolina, Oregon and Arizona. Under the terms of the agreement, Digipath will oversee and manage the construction and build out of a hemp potency-testing laboratory in three of Hemp’s locations.
NexTech AR Solutions Corp. (CSE: NTAR) (OTC: NEXCF) has signed a deal with digital cannabis education and business technology firm Cannvas MedTech (OTCPK: CANVF) to bring augmented reality to cannabis education. The partnership allows NexTech’s AR technology to gain a position in the cannabis market for the education of consumers interested in the many medical benefits of cannabis. Cannvas plans to roll out AR enhanced learning kiosks into high-traffic retail areas across Canada to improve accessibility to free and physician-backed education focused on the potential benefits of medical and adult-use cannabis.
Cannabis producer CannTrust Holdings (TSX: TRST) has obtained approval from the Town of Pelham to proceed with its Phase III expansion, with construction starting immediately. The revised Phase III expansion is permitted for a footprint of up to 390,000 square feet, compared to the 600,000 square feet in the company’s initial application. The fully-permitted Phase II expansion remains on course to bring the company’s capacity to 50,000 kg per year. CannTrust expects first harvest from the Phase II expansion in the first quarter of 2019.
Flower One Holdings (OTCQB: FLOOF) has entered a new licensing agreement and brand partnership with California-based Old Pal for cannabis-product fulfillment in Nevada. Old Pal is a lifestyle cannabis brand that offers affordable legal cannabis in the state of California. As part of the deal, Flower One will be able to produce, manufacture and distribute the entire Old Pal product line to Nevada’s 130 cannabis retailers.
Sugarmade (OTCQB: SGMD), a major supplier to the growing hydroponic cultivation sector, has unveiled its plans to acquire a retail location of Washington-based Hydro4Less. “This pending acquisition when combined with pending transactions with BizRight, LLC and Athena United, LLC, both of which also operate in the hydroponic cultivation sector, will place Sugarmade among the ranks of the largest cannabis-related revenue producing companies,” the company said in a press statement.
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