Cannabis News
Ontario-based Abacus Health Products – formerly known as World Wide – has completed its business combination with Abacus Health Products, a Delaware corporation. In connection with the business combination, Abacus completed a private placement offering of 4 million subscription receipts at a price of US$3.75 per subscription receipt for a total of $15 million. Abacus is engaged in the development and commercialization of over-the-counter topical pain-relieving medications containing organic and natural ingredients, including CBD.
High Tide (CSE: HITI), an Alberta-based cannabis firm focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, unveiled plans to acquire two cannabis retail locations in Saskatchewan from two separate vendors. Subject to regulatory approval, the locations will be “situated in different cities with distinct customer bases, which will enable both urban and rural cannabis consumers to develop a relationship with the Canna Cabana brand,” according to a company press statement.
LYF Food Technologies, which is aiming to become a player in the value-added cannabis products sector specifically in nutraceuticals, functional foods and traditional edibles, reported significant progress in facility construction, strategic partnerships, and business development. The company has applied for a standard processing license from Health Canada. In a press statement, LYF said it has secured multiple strategic partnerships with private and publicly-traded licensed producers following the Health Canada announcement proposing edibles legalization by October 2019.
Tetra Bio-Pharma (TSXV: TBP) (OTCQB: TBPMF), which focuses on cannabinoid-based drug discovery and development, has entered into an agreement with Panag Pharma shareholders to acquire all of the issued and outstanding shares in the company. Panag is a Canadian-based bio-tech company focused on the development of novel cannabinoid-based formulations for the treatment of pain and inflammation. The company has developed innovative and patented formulations for the treatment of ocular diseases and other pain conditions such as general neuropathic pain.
3 Sixty Risk Solutions Ltd. (OTCQX:PTVYF), which operates its 3 Sixty Secure Corp. subsidiary, has entered into a multi-year, service agreement to provide guarding and secure transport services to an affiliate of MJardin Group (OTCQX: MJARF), a global cannabis management platform with experience in cultivation, processing, distribution and retail with more than 30 cultivation facilities under operation. The agreement provides a full suite of security services to MJardin facilities in Canada including security patrols and equipment monitoring as well as secure transport of cannabis products, according to 3 Sixty Risk Solutions statement.
