PALM BEACH, Florida, March 21, 2019 /PRNewswire/ -- An industry publicationrecently said that, in both Canada and the U.S.: "The future is very bright for property owners in North America as cannabis companies are on the hunt for cannabis retail locations." The
In other developments in the industry, a recent headline projecting what will happen in the 2019 cannabis markets, used a tongue-in-cheek cliché: "High Times Ahead: Continued Dramatic Growth Expected For The Legal Cannabis Industry In 2019." High times are indeed projected. The article continued: "The legal cannabis industry is projected to continue its steady and consistent rise in 2019. Backed by growing medical sales and partnerships, the industry is poised to bring on more opportunities for investment and development."
Weekend Unlimited Inc. (CSE: POT) (OTCQB: WKULF) (FSE: 0OS1) BREAKING NEWS: Weekend Unlimited announces that it has secured a retail location in Long Beach, California to launch the company's first US concept store.
"It is essential to our growth plan that we establish multiple touch points for our offerings and one of those is at the retail level, where we can inform and learn from customers as they interact with our brands," said Mr. Paul Chu, Weekend Unlimited President and CEO.
"This space has been designed to provide customers with multiple product lines, featuring Weekend brands, and elevating the experience by having an upstairs Weekend LIVE space that will hold events, education seminars and serve as a lounge with a hemp smoothie bar, coffee and CBD edibles," added Mr. Chu. Read this full announcement and more news for Weekend Unlimited at: https://www.financialnewsmedia.com/news-pot/
Additional cannabis industry related developments from around the markets: OrganiGram Holdings Inc. (TSX-V: OGI) (OTCQX: OGRMF) the parent company of Organigram Inc. (together, the "Company" or "Organigram"), a leading licensed producer of cannabis recently announced that subject to the approval of the TSX Venture Exchange (the "TSXV"), the Company will issue 41,000 Common Shares (the "Shares") in the capital of Organigram to 9250-5999 Québec Inc. (the "Consultant") pursuant to an Advisory Services Agreement whereby the Consultant provided consulting and advisory services in respect to the cultivation of cannabis and related matters. The Shares will be issued at a price of $9.04 per Share. Organigram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada .
Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) a provider of high quality cannabis, recently announced that the Company is continuing its expansion in Florida and is on schedule to open its 12th dispensary in Gainesville, FL on March 20, 2019, subject to the receipt of Florida Department of Health approvals. The Gainesville area is also home to two Liberty facilities that house an aggregate of 228,880 square feet of cultivation space.
Located at 12 SW 2nd Street, Gainesville, FL, the new dispensary will be open Monday through Friday, 10 a.m. to 7 p.m., Saturday, 10 a.m. to 5 p.m., and Sunday 12 p.m. to 5 p.m. The 1,934 square-foot Gainesville store will provide experienced staff who continue to guide patients through the purchasing process, provide private consultations and host monthly educational events open to the community to discuss the benefits of medicinal cannabis products.
Emerald Health Therapeutics, Inc. (TSX-V: EMH) (OTCQX: EMHTF) recently applauded the Government of Canada for proposing to amend the excise tax calculation for cannabis announced in the recent federal budget.
The implementation of the proposed revision announced in the federal budget would result in the calculation of the excise duty of ingestible cannabis and hemp products being based on the quantity of THC in the products, as opposed to the current tax set in relation to the product volume. Certain low-THC products would also be subject to lower excise duties, which would provide additional tax relief for cannabis products typically used by individuals for medical purposes. If implemented, the proposed changes are expected to come into effect on May 1, 2019. Emerald believes that these revisions are likely to improve its profit margins on the products it intends to produce from its contracts to acquire harvested hemp. As previously announced, Emerald has entered into contracts to purchase 500 acres of harvested hemp (which contains very low levels of THC) in 2018 and up to 1000 acres of harvested hemp per annum from 2019 to 2022.
Namaste Technologies Inc. (TSX-V: N) (OTCQB: NXTTF) recently announced that it has completed the previously announced acquisition of 49% of the common shares of Toronto-based Pineapple Express Delivery Inc. ("Pineapple Express"). In June 2018, the Company announced that it had entered into a subscription agreement to acquire 15% of the common shares of Pineapple for $1,000,000 which comprised of $850,000 in cash and $150,000 in Namaste common shares (the "Subscription Agreement"). In December 2018, the Company announced that it had entered into a binding agreement (the "Purchase Agreement") with shareholders of Pineapple Express to acquire an additional 34% of the outstanding common shares of Pineapple Express. Pursuant to the terms of the Purchase Agreement, the Company issued the selling shareholders of Pineapple Express such number of Namaste common shares having an aggregate value of approximately $3.06 Million, based on the closing price of Namaste's common shares on the TSX Venture Exchange on December 14, 2018 (the "Transaction"). Following closing of the Transaction, Namaste now owns 49% of the issued and outstanding common shares of Pineapple Express.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com (FNM) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press release issued above by Weekend Unlimited Inc. by a non affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
View original content:http://www.prnewswire.com/news-releases/us-and-canadian-dispensaries-now-looking-to-locate-in-local-malls-300816320.html
Subscribe to our Free Newsletters!