Uncategorized
Vancouver, British Columbia–(April 1, 2019) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that the closing date of the recently announced private placement will be on Thursday, April 4th, 2019.
“The private placement was oversubscribed, allowing us to bring in a significant number of new investors and materially increase our shareholder base. In fact, the volume of subscriptions caused a slight delay in our original anticipated closing date. With that said, we are extremely thankful to all of the investors who are participating in the private placement,” stated Jim Pakulis, CEO of TransCanna.
As reported in our March 14th press release, as a result of significant demand, the Company’s brokered private placement of 5,000,000 units of the Company (the “Units”) at a price of CDN$2.00 per Unit (the “Offering”), is oversubscribed. Consequently, the Company increased the size of the Offering by sixty percent to a maximum of 8,000,000 Units to raise gross proceeds of CDN$16,000,000. The terms of the Units under the Offering remain unchanged as previously announced in our March 14th and February 20th press releases. The Offering is being conducted by a syndicate of agents co-led by Haywood Securities Inc. and Canaccord Genuity Corp., and including Gravitas Securities Inc.
For further information, please visit the Company’s website at www.transcanna.com.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian based company providing branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.
Media Contact
TransCanna@talkshopmedia.com
604-738-2220
On behalf of the Board of Directors
James Pakulis
Chief Executive Officer
Telephone: (604) 609-6199
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to: the anticipated timing of the closing of the financing and the expected proceeds therefrom. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
TGOD stock is selling for $4.82 CAD on the TSX at present. But analysts are watching closely, and an average price target suggests that The Green Organic Dutchman (TSX:TGOD)(OTCQX:TGODF) has potential upside ahead.
TGOD Stock: Is there Upside Ahead?
Unlike many of its peers, TGOD stock has yet to hit a major US exchange such as the NYSE or NASDAQ. As such, trading on the OTCQX in the US can belie this company’s potential. None-the-less, the company’s somewhat different approach to the cannabis industry has made an impression on analysts.
The Green Organic Dutchman is placing focus on the high-end marijuana market or “craft cannabis” market.
According to The Motley Fool:
“The company is aiming at the high end of the marijuana market, touting its organic product line and seeking to maintain premium pricing from customers who are willing to pay up for quality.”
It’s not a bad idea. Focusing on a niche may allow it to be recognized as a brand leader in high-quality cannabis products. A case of quality over quantity perhaps. Artisan and craft culture equates to booming business in foods and alcohol; cannabis may soon be the exact same.
Analyst Opinion
Analysts at Jeffries, Seaport Global, Fundamental Research Group, and Canaccord Genuity are currently watching TGOD stock. According to MJObserver, the average price target set by these four groups is $7.175 CAD per share. Looking at the current price of $4.82 CAD, this represents a potential upside of 48.86% for TGOD stock.
Of course, that’s if these analysts are to be correct.
It’s a very plausible upside if TGOD stock continues its trend, which has seen shares already climb over 80% on a year-to-date basis.
The Grower’s Circle Launch
Most recently, the international cannabis producer has begun shipments of its “certified-organic” medical-grade cannabis for medical patients across Canada. According to the press release “The Growers’ Circle is a select group of patients across Canada now receiving TGOD’s first certified-organic flower.” This launch is a “limited production rollout of the Company’s premium product.” Effectively, TGOD will ramp-up production later this year following this initial run of its exclusive product.
Are you a TGOD stock investor? Do you get excited when analyst consensus shows a significant potential? Or do you take analyst opinion with a pinch of salt?
Miami, Florida–(April 1, 2019) – Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment, including point-of-sale (“POS”), e-commerce and mobile devices, today reports financial results for the fiscal year ended Dec. 31, 2018, and provides an update on recent strategic and operational initiatives.
Conference Call
On April 2, 2019, at 8:30 a.m. EST, the Company will host a conference call to discuss 2018 financial results and business highlights. The conference call can be accessed live over the phone by dialing +1 (877) 303-9858, or for international callers +1 (408) 337-0139, and referencing conference code 8437549. It is recommended that participants dial in approximately 10 minutes prior to the start of the call.
The call will also be webcast live from https://edge.media-server.com/m6/p/faqumxh9. Following completion of the call, a recorded replay of the webcast will be available on the www.netelement.com/en/ir website.
2018 Full-Year Financial Highlights
- Total processing volume of $3.3 billion, an increase of 18% compared to $2.8 billion in 2017
- Net revenue of $65.8 million, an increase of 10% compared to $60.1 million in 2017
- Gross margin of $10.2 million, an increase of 15% compared to $8.8 million in 2017
- Operating expenses were $14.5 million, a decrease of 17% compared to $17.4 million in 2017
- Net loss per share decreased to ($1.28) in 2018 compared to net loss per share of ($5.04) in 2017, a decrease of 75%
2018 Significant Achievements
- Acquired recurring cash flow portfolios projected to add over $9 million in gross profits over the next four years.
- Ranked as one of the fastest growing companies in North America on Deloitte’s 2018 Technology Fast 500TM
- Ranked in the top 10 retail payment consulting/services companies of 2018 by Retail CIO Outlook magazine
- Jon Najarian of CNBC “Halftime Report” and “Fast Money,” and Jonathan Fichman, a fintech and startup executive, joined Net Element’s board of directors
- Net Element subsidiary Unified Payments is among the first companies to achieve self-regulatory certification from the Electronics Transactions Association
“Successful execution of our strategy in 2018 has created a predictable and resilient business model for the company entering 2019,” said Net Element CEO Oleg Firer. “We believe our technology-centered service offerings built around payment ecosystems will continue to differentiate our company as we continue to provide value-added payment solutions to our clients.”
Outlook
Net Element’s strategy is to ensure that our business remains successful in a rapidly changing market, creating sustainable value for all our stakeholders, including our clients, distribution partners and shareholders. We aim to achieve superior results for our clients by having a deep understanding of their payment acceptance needs, along with having extensive market reach, strong product development and technology enablement.
Planned for 2019
We will continue to focus on understanding our clients and addressing their payment acceptance needs in core market segments.
- Continue growth in all key segments and expand our network of referral partners
- Drive and improve client retention
- Expand our client base in selected markets
- Deliver value-added products to our clients to increase efficiencies and payment acceptance
- Launch new tools to reach our clients, such as digital channels, and deepen partner relations
The global payments industry continued to deliver healthy growth during 2018, with underlying transaction volumes demonstrating even greater strength. We believe that new and disruptive technologies will provide us with the opportunity to differentiate ourselves from our competition and to continue developing and delivering innovative payment solutions in 2019 and beyond.
- Continue to scale and enhance Netevia, our future-ready multi-channel payments platform, enabling intelligent routing of payments for the application development community
- Continue to scale and enhance new product launches that will add value for our clients
- Extend our capabilities in next-generation POS hardware and software and deepen our partner proposition
- Continue trials of advanced technologies centered on business intelligence and mobile-based payments acceptance
- Continue the further development of disruptive emerging technologies such as blockchain technologies, enablement of Internet of Things (“IoT”), biometrics payment acceptance and artificial intelligence
- Continue research and investments in future emerging payment technologies
Realize the full potential of our business model.
- Deliver stronger organic growth
- Monetize on acquisitions completed in 2018
- Develop additional payment network relationships to integrate with our technologies
- Seek acquisition or investment opportunities to deepen our technological and distribution capabilities
We continue to believe that disruptive technologies such as blockchain, IoT, biometrics payments and artificial intelligence will play key roles in future commerce. These technologies will encourage innovation through development of value-added services and cater to both merchants and their customers.
We believe Netevia, our future-ready payments platform, will act as a framework and core for a number of value-added services that can connect merchants and consumers directly, utilizing these disruptive technologies while increasing the economic efficiency of all transactions being made within the ecosystem. Specifically, Netevia Payments Platform delivers end-to-end payment processing through easy-to-use APIs and complements the Company’s ability to perform in a multi-channel environment including point-of-sale (POS), e-commerce and mobile devices. Netevia will enable the Company to perform as a hub for disruptive emerging technology solutions.
Results of Operations for the Year Ended Dec. 31, 2018, compared to the Year Ended Dec. 31, 2017
We reported a net loss attributable to common stockholders of approximately $4.9 million or ($1.28) loss per share for the year ended Dec. 31, 2018, as compared to a net loss of approximately $9.9 million or ($5.04) loss per share for the year ended Dec. 31, 2017. This resulted in a decrease in net loss attributable to stockholders of approximately 50%, primarily due to an increase in revenues and other income, decreases in costs related to branded content, combined with selling, general and administrative expenses, and non-cash compensation. This decrease in net loss was partially offset by an increase in bad debt expense.
The following table sets forth our sources of revenues, cost of revenues and gross margins for the years ended Dec. 31, 2018 and Dec. 31, 2017.
Gross Margin Analysis:
|
|
Twelve |
|
|
|
|
|
|
Twelve |
|
|
|
|
|
|
|
|
|
|
|
Months Ended |
|
|
|
|
|
|
Months Ended |
|
|
|
|
|
|
Increase / |
|
Source of Revenues |
|
December 31, 2018 |
|
|
Mix |
|
|
December 31, 2017 |
|
|
Mix |
|
|
(Decrease) |
|
North American Transaction Solutions |
|
$ |
59,138,552 |
|
|
|
89.9 |
% |
|
$ |
51,138,327 |
|
|
|
85.1 |
% |
|
$ |
8,000,225 |
|
International Transaction Solutions |
|
|
6,648,265 |
|
|
|
10.1 |
% |
|
|
8,926,497 |
|
|
|
14.9 |
% |
|
|
(2,278,232 |
) |
Total |
|
$ |
65,786,817 |
|
|
|
100.0 |
% |
|
$ |
60,064,824 |
|
|
|
100.0 |
% |
|
$ |
5,721,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve |
|
|
|
|
|
|
Twelve |
|
|
|
|
|
|
|
|
|
|
|
Months Ended |
|
|
% of |
|
|
Months Ended |
|
|
% of |
|
|
Increase / |
|
Cost of Revenues |
|
December 31, 2018 |
|
|
revenues |
|
|
December 31, 2017 |
|
|
revenues |
|
|
(Decrease) |
|
North American Transaction Solutions |
|
$ |
50,545,759 |
|
|
|
85.5 |
% |
|
$ |
44,265,264 |
|
|
|
86.6 |
% |
|
$ |
6,280,495 |
|
International Transaction Solutions |
|
|
5,071,412 |
|
|
|
76.3 |
% |
|
|
6,971,948 |
|
|
|
78.1 |
% |
|
|
(1,900,536 |
) |
Total |
|
$ |
55,617,171 |
|
|
|
84.5 |
% |
|
$ |
51,237,212 |
|
|
|
85.3 |
% |
|
$ |
4,379,959 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve |
|
|
|
|
|
|
Twelve |
|
|
|
|
|
|
|
|
|
|
|
Months Ended |
|
|
% of |
|
|
Months Ended |
|
|
% of |
|
|
Increase / |
|
Gross Margin |
|
December 31, 2018 |
|
|
revenues |
|
|
December 31, 2017 |
|
|
revenues |
|
|
(Decrease) |
|
North American Transaction Solutions |
|
$ |
8,592,793 |
|
|
|
14.5 |
% |
|
$ |
6,873,063 |
|
|
|
13.4 |
% |
|
$ |
1,719,730 |
|
International Transaction Solutions |
|
|
1,576,853 |
|
|
|
23.7 |
% |
|
|
1,954,549 |
|
|
|
21.9 |
% |
|
|
(377,696 |
) |
Total |
|
$ |
10,169,646 |
|
|
|
15.5 |
% |
|
$ |
8,827,612 |
|
|
|
14.7 |
% |
|
$ |
1,342,034 |
|
Net revenues consist primarily of service fees from transaction processing. Net revenues were approximately $65.8 million for the year ended Dec. 31, 2018, as compared to approximately $60.1 million for the year ended Dec. 31, 2017. The increase in net revenues is primarily due to continued organic growth of North American merchants with emphasis on value-added offerings, and the acquisition of a recurring cash flow portfolio in July 2018. The net increase also is reflective of the following factors which consisted of: A $2 million decrease in net revenues from our International Transaction Solutions segment as we experienced increased competition; reorganized assignments from our International Transaction Solutions segment; and an approximate $1.9 million reduction in gross revenues due to the adoption of ASC 606. For the year ended Dec. 31, 2017, approximately $2.2 million was included in gross revenues that would have been excluded under ASC 606.
Cost of revenues represents direct costs of generating revenues including commissions, mobile operator fees, interchange expense, processing and non-processing fees. Cost of revenues for the year ended Dec. 31, 2018, was approximately $55.6 million as compared to approximately $51.2 million for the year ended Dec. 31, 2017. The increase of approximately $4.4 million in cost of revenues in 2018 as compared to 2017 was primarily driven by the increase in North American Transaction Solutions revenues and expenses associated with new sponsoring bank relationships. An approximate $1.9 million reduction in cost of revenues was due to the adoption of ASC 606 for the year ended Dec. 31, 2018. For the year ended Dec. 31, 2017, approximately $2.2 million was included in costs of revenues that would have been excluded under ASC 606.
Gross margin for the year ended Dec. 31, 2018, was approximately $10.2 million or 15.5% of net revenue, as compared to approximately $8.8 million or 14.7% of net revenue, for the year ended Dec. 31, 2017. This increase in the gross margin percentage was primarily the result of North American Transaction Solutions segment processing of transactions utilizing our self-designated BIN/ICA and further acceptance of value-added services by the merchants.
Total operating expenses were approximately $14.5 million for the year ended Dec. 31, 2018, as compared to total operating expenses of approximately $17.4 million for the year ended Dec. 31, 2017. Total operating expenses for the year ended Dec. 31, 2018, consisted of selling, general and administrative costs of approximately $9.8 million, non-cash compensation of approximately $142,000, bad debt expense of approximately $2.1 million, and depreciation and amortization expense of approximately $2.5 million. For the year ended Dec. 31, 2017, total operating expenses consisted of general and administrative costs of approximately $10.6 million, non-cash compensation of approximately $2.9 million, bad debt expense of approximately $1.3 million, and depreciation and amortization expense of approximately $2.5 million.
Selling, general and administrative expenses for the years ended Dec. 31, 2018, and Dec. 31, 2017, consisted of operating expenses not otherwise delineated in the accompanying audited consolidated statements of operations and comprehensive loss, as follows:
Twelve months ended December 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Category |
|
North
American
Transaction
Solutions |
|
|
International
Transaction
Solutions |
|
|
Corporate
Expenses
& Eliminations |
|
|
Total |
|
Salaries, benefits, taxes and contractor payments |
|
$ |
1,431,806 |
|
|
$ |
1,205,885 |
|
|
$ |
2,760,334 |
|
|
$ |
5,398,025 |
|
Professional fees |
|
|
350,100 |
|
|
|
346,084 |
|
|
|
1,556,497 |
|
|
|
2,252,681 |
|
Rent |
|
|
– |
|
|
|
90,456 |
|
|
|
204,143 |
|
|
|
294,599 |
|
Business development |
|
|
134,862 |
|
|
|
4,636 |
|
|
|
14,961 |
|
|
|
154,459 |
|
Travel expense |
|
|
151,098 |
|
|
|
12,789 |
|
|
|
138,316 |
|
|
|
302,203 |
|
Filing fees |
|
|
– |
|
|
|
– |
|
|
|
49,339 |
|
|
|
49,339 |
|
Transaction (gains) losses |
|
|
– |
|
|
|
94,573 |
|
|
|
– |
|
|
|
94,573 |
|
Office expenses |
|
|
307,593 |
|
|
|
35,646 |
|
|
|
51,997 |
|
|
|
395,236 |
|
Communications expenses |
|
|
112,510 |
|
|
|
162,444 |
|
|
|
107,475 |
|
|
|
382,429 |
|
Insurance expense |
|
|
– |
|
|
|
– |
|
|
|
136,643 |
|
|
|
136,643 |
|
Other expenses |
|
|
2,842 |
|
|
|
18,244 |
|
|
|
277,415 |
|
|
|
298,501 |
|
Total |
|
$ |
2,490,811 |
|
|
$ |
1,970,757 |
|
|
$ |
5,297,120 |
|
|
$ |
9,758,688 |
|
Twelve months ended December 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Category |
|
North
American
Transaction
Solutions |
|
|
International
Transaction
Solutions |
|
|
Corporate
Expenses
& Eliminations |
|
|
Total |
|
Salaries, benefits, taxes and contractor payments |
|
$ |
1,970,860 |
|
|
$ |
1,696,245 |
|
|
$ |
2,082,294 |
|
|
$ |
5,749,399 |
|
Professional fees |
|
|
505,383 |
|
|
|
819,184 |
|
|
|
1,312,271 |
|
|
|
2,636,838 |
|
Rent |
|
|
– |
|
|
|
245,539 |
|
|
|
245,186 |
|
|
|
490,725 |
|
Business development |
|
|
53,011 |
|
|
|
32,072 |
|
|
|
3,569 |
|
|
|
88,652 |
|
Travel expense |
|
|
331,299 |
|
|
|
32,397 |
|
|
|
130,198 |
|
|
|
493,894 |
|
Filing fees |
|
|
– |
|
|
|
– |
|
|
|
72,035 |
|
|
|
72,035 |
|
Transaction (gains) losses |
|
|
742 |
|
|
|
(41,200 |
) |
|
|
1,642 |
|
|
|
(38,816 |
) |
Office expenses |
|
|
303,586 |
|
|
|
98,961 |
|
|
|
120,103 |
|
|
|
522,650 |
|
Communications expenses |
|
|
47,878 |
|
|
|
130,046 |
|
|
|
79,288 |
|
|
|
257,212 |
|
Insurance expense |
|
|
– |
|
|
|
5,401 |
|
|
|
135,386 |
|
|
|
140,787 |
|
Other expenses |
|
|
38,788 |
|
|
|
14,715 |
|
|
|
162,894 |
|
|
|
216,397 |
|
Total |
|
$ |
3,251,547 |
|
|
$ |
3,033,360 |
|
|
$ |
4,344,866 |
|
|
$ |
10,629,773 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Variance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Category |
|
North
American
Transaction
Solutions |
|
|
International
Transaction
Solutions |
|
|
Corporate
Expenses
& Eliminations |
|
|
Total |
|
Salaries, benefits, taxes and contractor payments |
|
$ |
(539,054 |
) |
|
$ |
(490,360 |
) |
|
$ |
678,040 |
|
|
$ |
(351,374 |
) |
Professional fees |
|
|
(155,283 |
) |
|
|
(473,100 |
) |
|
|
244,226 |
|
|
|
(384,157 |
) |
Rent |
|
|
– |
|
|
|
(155,083 |
) |
|
|
(41,043 |
) |
|
|
(196,126 |
) |
Business development |
|
|
81,851 |
|
|
|
(27,436 |
) |
|
|
11,392 |
|
|
|
65,807 |
|
Travel expense |
|
|
(180,201 |
) |
|
|
(19,608 |
) |
|
|
8,118 |
|
|
|
(191,691 |
) |
Filing fees |
|
|
– |
|
|
|
– |
|
|
|
(22,696 |
) |
|
|
(22,696 |
) |
Transaction (gains) losses |
|
|
(742 |
) |
|
|
135,773 |
|
|
|
(1,642 |
) |
|
|
133,389 |
|
Office expenses |
|
|
4,007 |
|
|
|
(63,315 |
) |
|
|
(68,106 |
) |
|
|
(127,414 |
) |
Communications expenses |
|
|
64,632 |
|
|
|
32,398 |
|
|
|
28,187 |
|
|
|
125,217 |
|
Insurance expense |
|
|
– |
|
|
|
(5,401 |
) |
|
|
1,257 |
|
|
|
(4,144 |
) |
Other expenses |
|
|
(35,946 |
) |
|
|
3,529 |
|
|
|
114,521 |
|
|
|
82,104 |
|
Total |
|
$ |
(760,736 |
) |
|
$ |
(1,062,603 |
) |
|
$ |
952,254 |
|
|
$ |
(871,085 |
) |
The total decrease of approximately $0.9 million in selling, general and administrative expenses for the year ended Dec. 31, 2018, as compared to the prior year was primarily due to the Company’s continued monitoring of operations and the labor costs necessary to maintain or increase revenues, along with the reorganization of assignments in the International Transaction Solutions segment, which resulted in a decrease of approximately $351,000. These objectives were also responsible for the decrease of approximately $384,000 in professional fees associated with operations.
Professional fees were $2,252,681 for the year ended Dec. 31, 2018, as compared to $2,636,838 for the year ended Dec. 31, 2017, representing a decrease of $384,157 as follows:
Twelve months ended December 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Fees |
|
North
American
Transaction
Solutions |
|
|
International
Transaction
Solutions |
|
|
Corporate
Expenses
&
Eliminations |
|
|
Total |
|
General Legal |
|
$ |
12,553 |
|
|
$ |
39,503 |
|
|
$ |
206,684 |
|
|
$ |
258,740 |
|
SEC Compliance Legal Fees |
|
|
– |
|
|
|
– |
|
|
|
152,168 |
|
|
|
152,168 |
|
Accounting and Auditing |
|
|
– |
|
|
|
7,815 |
|
|
|
390,000 |
|
|
|
397,815 |
|
Tax Compliance and Planning |
|
|
– |
|
|
|
– |
|
|
|
25,500 |
|
|
|
25,500 |
|
Consulting |
|
|
337,547 |
|
|
|
298,766 |
|
|
|
782,145 |
|
|
|
1,418,458 |
|
Total |
|
$ |
350,100 |
|
|
$ |
346,084 |
|
|
$ |
1,556,497 |
|
|
$ |
2,252,681 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve months ended December 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Fees |
|
North
American
Transaction
Solutions |
|
|
International
Transaction
Solutions |
|
|
Corporate
Expenses
&
Eliminations |
|
|
Total |
|
General Legal |
|
$ |
33,480 |
|
|
$ |
38,386 |
|
|
$ |
80,724 |
|
|
$ |
152,590 |
|
SEC Compliance Legal Fees |
|
|
– |
|
|
|
– |
|
|
|
275,112 |
|
|
|
275,112 |
|
Accounting and Auditing |
|
|
– |
|
|
|
15,433 |
|
|
|
412,943 |
|
|
|
428,376 |
|
Tax Compliance and Planning |
|
|
– |
|
|
|
– |
|
|
|
55,400 |
|
|
|
55,400 |
|
Consulting |
|
|
471,903 |
|
|
|
765,365 |
|
|
|
488,092 |
|
|
|
1,725,360 |
|
Total |
|
$ |
505,383 |
|
|
$ |
819,184 |
|
|
$ |
1,312,271 |
|
|
$ |
2,636,838 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Variance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Fees |
|
North
American
Transaction
Solutions |
|
|
International
Transaction
Solutions |
|
|
Corporate
Expenses
&
Eliminations |
|
|
Increase /
(Decrease) |
|
General Legal |
|
$ |
(20,927 |
) |
|
$ |
1,117 |
|
|
$ |
125,960 |
|
|
$ |
106,150 |
|
SEC Compliance Legal Fees |
|
|
– |
|
|
|
– |
|
|
|
(122,944 |
) |
|
|
(122,944 |
) |
Accounting and Auditing |
|
|
– |
|
|
|
(7,618 |
) |
|
|
(22,943 |
) |
|
|
(30,561 |
) |
Tax Compliance and Planning |
|
|
– |
|
|
|
– |
|
|
|
(29,900 |
) |
|
|
(29,900 |
) |
Consulting |
|
|
(134,356 |
) |
|
|
(466,599 |
) |
|
|
294,053 |
|
|
|
(306,902 |
) |
Total |
|
$ |
(155,283 |
) |
|
$ |
(473,100 |
) |
|
$ |
244,226 |
|
|
$ |
(384,157 |
) |
Non-cash compensation expense was $142,000 for the year ended Dec. 31, 2018, as compared to approximately $2.9 million for the year ended Dec. 31, 2017. A summary of 2018 and 2017 non-cash compensation activity follows:
2018 Non-Cash Compensation Activity:
|
|
|
|
|
|
# of Shares |
|
|
# of Options |
|
|
|
Amount |
|
|
Issued |
|
|
Issued |
|
Board of Directors & Employee stock and Options |
|
$ |
142,017 |
|
|
|
9,919 |
|
|
|
– |
|
Stock issued for consulting |
|
|
– |
|
|
|
– |
|
|
|
– |
|
Stock issued for acquisitions |
|
|
– |
|
|
|
– |
|
|
|
– |
|
Total for 2018 |
|
$ |
142,017 |
|
|
|
9,919 |
|
|
|
– |
|
2017 Non-Cash Compensation Activity:
|
|
|
|
|
|
# of Shares |
|
|
# of Options |
|
|
|
Amount |
|
|
Issued |
|
|
Issued |
|
Board of Directors & Employee stock and Options |
|
$ |
2,827,200 |
|
|
|
242,324 |
|
|
|
45,106 |
|
Stock issued for consulting |
|
|
7,258 |
|
|
|
896 |
|
|
|
– |
|
Stock issued for acquisitions |
|
|
105,966 |
|
|
|
13,082 |
|
|
|
– |
|
Total for 2017 |
|
$ |
2,940,424 |
|
|
|
256,302 |
|
|
|
45,106 |
|
Bad Debt Expense:
We reflected a bad debt expense on the accompanying consolidated statements of operations, which represents uncollected fees of approximately $2.1 million for the year ended Dec. 31, 2018, compared to bad debt expense representing uncollected fees of approximately $1.3 million for the year ended Dec. 31, 2017. The increase of approximately $800,000 from the prior year primarily resulted from an increase of approximately 15.6% in gross revenues from our North American Transaction Solutions segment, which in the normal course of business resulted in an increase in net ACH rejects and uncollectible non-processing fees. For the year ended Dec. 31, 2018, total gross ACH rejects equaled approximately $4 million, of which $1.9 million was subsequently collected. We were able to pass through to independent sales organizations (“ISO’s), via a reduction in commissions, $949,000 from the total gross ACH rejects.
For the year ended Dec. 31, 2017, total gross ACH rejects equaled approximately $3.7 million, of which $2.4 million was subsequently collected. We were able to pass through to independent sales organizations, via a reduction in commissions, $603,000 from the total gross ACH rejects.
During the year ended Dec. 31, 2018, approximately $300,000 of the $4 million in gross ACH rejects was attributable to merchant processing losses, while the remaining $3.7 million was related to non- processing fees billed to merchants. Approximately $200,000 of the merchant processing losses was passed on to ISOs. This resulted in net processing losses of $100,000 or .004% of total volume.
During the year ended Dec. 31, 2017, approximately $400,000 of the $3.7 million in gross ACH rejects is attributable to merchant processing losses, while the remaining $3.3 million was related to non- processing fees billed to merchants. Approximately $323,000 of merchant processing losses were passed on to ISOs. This resulted in net processing losses of $101,000 or 0.004% of total volume.
Depreciation and amortization expense consists primarily of the amortization of merchant portfolios in connection with residual buyout arrangements, depreciation expense on equipment, client acquisition costs, capitalized software expenses, trademarks, domain names and employee non-compete agreements. Depreciation and amortization expense was approximately $2.5 million for the years ended Dec. 31, 2018, and Dec. 31, 2017.
Interest expense was approximately $847,000 million for the year ended Dec. 31, 2018, as compared to approximately $1.2 million for the year ended Dec. 31, 2017, representing a decrease of approximately $340,000, primarily due to payoffs of the MBF and RBL notes in the normal course of business.
Funding Source |
|
Twelve months
ended
December 31,
2018 |
|
|
Twelve months
ended
December 31,
2017 |
|
|
Increase /
(Decrease) |
|
MBF Notes |
|
$ |
10,359 |
|
|
$ |
76,591 |
|
|
$ |
(66,232 |
) |
RBL Notes |
|
|
597,440 |
|
|
|
772,777 |
|
|
|
(175,337 |
) |
PPS Note |
|
|
169,501 |
|
|
|
168,233 |
|
|
|
1,268 |
|
Other |
|
|
69,879 |
|
|
|
172,021 |
|
|
|
(102,142 |
) |
Total |
|
$ |
847,179 |
|
|
$ |
1,189,622 |
|
|
$ |
(342,443 |
) |
Other income for the year ended Dec. 31, 2018, of approximately $792,000 consisted primarily of a gain recorded on the transfer of Digital Provider’s net assets to PayOnline (approximately $198,000), net gain in connection with the review and analysis of accounts receivable and accounts payable aging (approximately $856,000), gain on the write-off of TOT Group Russia (approximately $312,000), gain on the reversal of stock price guarantees in connection with the purchase of PayOnline that expired (approximately $313,000), partially offset by costs associated with common stock purchase agreement with ESOUSA Holdings, LLC (approximately $(227,000)), and approximately ($332,000) in miscellaneous other expenses.
Other income and expenses for the year ended Dec. 31, 2017, consisted primarily of approximately $117,000 in foreign taxes and other expenses attributed to our International Transaction Solutions segment, as well as approximately $48,000 in miscellaneous other expenses in the North American Transaction Solutions segment.
The net loss attributable to non-controlling interests amounted to approximately $87,000 and $110,000 for the years ended Dec. 31, 2018, and Dec. 31, 2017, respectively. The loss was attributed to our North American Transaction Solutions segment. representing its 20% non-controlling interest in Aptito. The non-controlling interest reflects the results of operations of subsidiaries that are allocable to minority equity owners.
Reconciliation of Non-GAAP Financial Measures and Regulation G Disclosure
To supplement its consolidated financial statements presented in accordance with United States generally accepted accounting principles (“GAAP”), the Company provides additional measures of its operating results by disclosing its adjusted net loss attributable to Net Element, Inc. stockholders. Adjusted net loss attributable to Net Element, Inc. stockholders is calculated as net loss attributable to Net Element, Inc. stockholders excluding non-cash share-based compensation and other non-operating, non-recurring items. Net Element discloses this amount on an aggregate and per share basis. These measures meet the definition of non-GAAP financial measures. The Company believes that application of these non-GAAP financial measures is appropriate to enhance the understanding by the Company’s investors of its historical performance through use of a metric that seeks to normalize period-to-period earnings.
This press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Pursuant to Regulation G, a reconciliation of these non-GAAP financial measures with the comparable financial measures calculated in accordance with GAAP for the 12 months ended Dec. 31, 2018, and Dec. 31, 2017, is presented in the following Non-GAAP Financial Measures Table.
Twelve Months Ended December 31, 2018 |
|
GAAP |
|
|
Share-based Compensation |
|
|
Impairment Charge Relating to Goodwill |
|
|
Total |
|
Net (loss) income attributable to Net Element Inc. stockholders |
|
$ |
(4,936,182 |
) |
|
$ |
142,017 |
|
|
$ |
636,000 |
|
|
$ |
(4,794,165 |
) |
Basic and diluted loss per share |
|
$ |
(1.28 |
) |
|
$ |
0.04 |
|
|
$ |
0.16 |
|
|
$ |
(1.08 |
) |
Basic and diluted shares used in computing earnings per share |
|
|
3,868,324 |
|
|
|
|
|
|
|
|
|
|
|
3,868,324 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended December 31, 2017 |
|
GAAP |
|
|
Share-based Compensation |
|
|
Impairment Charge Relating to Goodwill |
|
|
Total |
|
Net (loss) income attributable to Net Element Inc. stockholders |
|
$ |
(9,913,485 |
) |
|
$ |
2,940,424 |
|
|
$ |
– |
|
|
$ |
(6,973,061 |
) |
Basic and diluted loss per share |
|
$ |
(5.04 |
) |
|
$ |
1.49 |
|
|
$ |
– |
|
|
$ |
(3.55 |
) |
Basic and diluted shares used in computing earnings per share |
|
|
1,967,676 |
|
|
|
|
|
|
|
|
|
|
|
1,967,676 |
|
Additional information regarding Net Element’s results for its year ended Dec. 31, 2018, may be found in Net Element’s annual report on Form 10-K, which was filed with the Security and Exchange Commission (SEC) on April 1, 2019, and may be obtained from the SEC’s Internet website at http://www.sec.gov.
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the U.S., the Company aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, our cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest growing companies in North America on Deloitte’s 2017 Technology Fast 500™. In 2017 we were recognized by South Florida Business Journal as one of 2016’s fastest-growing technology companies. Further information is available at www.NetElement.com.
Forward-Looking Statements
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to the predictability and resilience of the Company’s business model and whether the Company will be successful in achieving further growth and financial improvement. Additional examples of such risks and uncertainties include, but are not limited to (i) Net Element’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element’s ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element’s ability to successfully expand in existing markets and enter new markets; (iv) Net Element’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element’s business; (viii) changes in government licensing and regulation that may adversely affect Net Element’s business; (ix) the risk that changes in consumer behavior could adversely affect Net Element’s business; (x) Net Element’s ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; and (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of further U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
NET ELEMENT, INC.
CONSOLIDATED BALANCE SHEETS
|
|
December 31, 2018 |
|
|
December 31, 2017 |
|
ASSETS |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash |
|
$ |
1,645,481 |
|
|
$ |
11,285,669 |
|
Accounts receivable, net |
|
|
6,290,412 |
|
|
|
5,472,856 |
|
Prepaid expenses and other assets |
|
|
1,749,221 |
|
|
|
2,282,614 |
|
Total current assets, net |
|
|
9,685,114 |
|
|
|
19,041,139 |
|
Equipment, net |
|
|
25,335 |
|
|
|
58,268 |
|
Intangible assets, net |
|
|
6,441,743 |
|
|
|
3,127,760 |
|
Goodwill |
|
|
9,007,752 |
|
|
|
9,643,752 |
|
Other long-term assets |
|
|
604,070 |
|
|
|
460,511 |
|
Total assets |
|
$ |
25,764,014 |
|
|
$ |
32,331,430 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
6,368,444 |
|
|
$ |
6,785,459 |
|
Accrued expenses |
|
|
2,535,947 |
|
|
|
3,212,438 |
|
Deferred revenue |
|
|
1,495,849 |
|
|
|
1,712,591 |
|
Notes payable (current portion) |
|
|
433,448 |
|
|
|
2,493,973 |
|
Due to related party |
|
|
387,814 |
|
|
|
461,992 |
|
Total current liabilities |
|
|
11,221,502 |
|
|
|
14,666,453 |
|
Notes payable (net of current portion) |
|
|
5,946,046 |
|
|
|
4,521,449 |
|
Total liabilities |
|
|
17,167,548 |
|
|
|
19,187,902 |
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
Series A Convertible Preferred stock ($.0001 par value, 1,000,000 shares authorized, no shares issued and outstanding at December 31, 2018 and December 31, 2017) |
|
|
– |
|
|
|
– |
|
Common stock ($.0001 par value, 100,000,000 shares authorized and 3,863,019 and 3,853,100 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively) |
|
|
386 |
|
|
|
385 |
|
Paid in capital |
|
|
183,246,232 |
|
|
|
183,119,222 |
|
Accumulated other comprehensive loss |
|
|
(2,332,163 |
) |
|
|
(2,530,238 |
) |
Accumulated deficit |
|
|
(172,292,252 |
) |
|
|
(167,356,070 |
) |
Stock subscriptions receivable |
|
|
– |
|
|
|
(50,585 |
) |
Non-controlling interest |
|
|
(125,737 |
) |
|
|
(39,186 |
) |
Total stockholders’ equity |
|
|
8,596,466 |
|
|
|
13,143,528 |
|
Total liabilities and stockholders’ equity |
|
$ |
25,764,014 |
|
|
$ |
32,331,430 |
|
NET ELEMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
|
|
Twelve Months Ended
December 31, |
|
|
|
2018 |
|
|
2017 |
|
Net revenues |
|
|
|
|
|
|
|
|
Service fees |
|
$ |
65,786,817 |
|
|
$ |
58,723,928 |
|
Branded content |
|
|
– |
|
|
|
1,340,896 |
|
Total Revenues |
|
|
65,786,817 |
|
|
|
60,064,824 |
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|
Cost of service fees |
|
|
55,617,171 |
|
|
|
49,934,371 |
|
Cost of branded content |
|
|
– |
|
|
|
1,302,841 |
|
Selling, general and administrative |
|
|
9,758,688 |
|
|
|
10,629,773 |
|
Non-cash compensation |
|
|
142,017 |
|
|
|
2,940,424 |
|
Bad debt expense |
|
|
2,145,425 |
|
|
|
1,320,848 |
|
Depreciation and amortization |
|
|
2,454,637 |
|
|
|
2,533,985 |
|
Total costs and operating expenses |
|
|
70,117,938 |
|
|
|
68,662,242 |
|
Loss from operations |
|
|
(4,331,121 |
) |
|
|
(8,597,418 |
) |
Interest expense |
|
|
(847,179 |
) |
|
|
(1,189,622 |
) |
Other income (expense) |
|
|
791,567 |
|
|
|
(236,009 |
) |
Impairment charge relating to goodwill |
|
|
(636,000 |
) |
|
|
– |
|
Net loss from continuing operations before income taxes |
|
|
(5,022,733 |
) |
|
|
(10,023,049 |
) |
Income taxes |
|
|
– |
|
|
|
– |
|
Net loss from continuing operations |
|
|
(5,022,733 |
) |
|
|
(10,023,049 |
) |
Net loss attributable to the non-controlling interest |
|
|
86,551 |
|
|
|
109,564 |
|
Net loss attributable to Net Element, Inc. stockholders |
|
|
(4,936,182 |
) |
|
|
(9,913,485 |
) |
Foreign currency translation |
|
|
298,075 |
|
|
|
(43,623 |
) |
Comprehensive loss attributable to common stockholders |
|
$ |
(4,638,107 |
) |
|
$ |
(9,957,108 |
) |
|
|
|
|
|
|
|
|
|
Loss per share – basic and diluted |
|
$ |
(1.28 |
) |
|
$ |
(5.04 |
) |
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding – basic and diluted |
|
|
3,868,324 |
|
|
|
1,967,676 |
|
NET ELEMENT, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
|
|
Common Stock |
|
|
Paid in |
|
|
Stock |
|
|
Comprehensive |
|
|
Non-controlling |
|
|
Accumulated |
|
|
Equity (Deficiency) |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Subscription |
|
|
Income |
|
|
interest |
|
|
Deficit |
|
|
in Assets |
|
Balance December 31, 2016 |
|
|
1,535,350 |
|
|
$ |
154.00 |
|
|
$ |
163,920,066 |
|
|
$ |
– |
|
|
$ |
(2,486,616 |
) |
|
$ |
70,378 |
|
|
$ |
(157,442,585 |
) |
|
$ |
4,061,397 |
|
Shares issued in connection with reverse stock split |
|
|
3,117 |
|
|
|
0.31 |
|
|
|
1 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
1 |
|
Share based compensation |
|
|
242,324 |
|
|
|
24.00 |
|
|
|
2,850,155 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
2,850,179 |
|
Shares issued for acquisitions |
|
|
13,082 |
|
|
|
1.00 |
|
|
|
105,965 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
105,966 |
|
Shares issued to settle merchant liabilities |
|
|
30,759 |
|
|
|
3.00 |
|
|
|
252,220 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
252,223 |
|
Shares issued for consulting services |
|
|
19,896 |
|
|
|
2.00 |
|
|
|
228,416 |
|
|
|
(50,585 |
) |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
177,833 |
|
Shares issued in connection with debt restructuring |
|
|
127,406 |
|
|
|
13.00 |
|
|
|
758,181 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
758,194 |
|
Shares issued under ESOUSA/Cobblestone agreements |
|
|
1,881,165 |
|
|
|
188.00 |
|
|
|
15,004,217 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
15,004,405 |
|
Net loss |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
(109,564 |
) |
|
|
(9,913,485 |
) |
|
|
(10,023,049 |
) |
Comprehensive loss – foreign currency translation |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
(43,622 |
) |
|
|
– |
|
|
|
– |
|
|
|
(43,622 |
) |
Balance December 31, 2017 |
|
|
3,853,100 |
|
|
$ |
385.31 |
|
|
$ |
183,119,222 |
|
|
$ |
(50,585 |
) |
|
$ |
(2,530,238 |
) |
|
$ |
(39,186 |
) |
|
$ |
(167,356,070 |
) |
|
$ |
13,143,528 |
|
Share based compensation |
|
|
9,919 |
|
|
|
0.99 |
|
|
|
127,010 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
127,011 |
|
Shares issued for consulting services |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
50,585 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
50,585 |
|
Net loss |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
(86,551 |
) |
|
|
(4,936,182 |
) |
|
|
(5,022,733 |
) |
Comprehensive loss – foreign currency translation |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
298,075 |
|
|
|
– |
|
|
|
– |
|
|
|
298,075 |
|
Balance December 31, 2018 |
|
|
3,863,019 |
|
|
$ |
386.30 |
|
|
$ |
183,246,232 |
|
|
$ |
– |
|
|
$ |
(2,232,163 |
) |
|
$ |
(125,737 |
) |
|
$ |
(172,292,252 |
) |
|
$ |
8,596,466 |
|
NET ELEMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
Twelve Months Ended
December 31, |
|
|
|
2018 |
|
|
2017 |
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
Net loss attributable to Net Element, Inc. stockholders |
|
$ |
(4,936,182 |
) |
|
$ |
(9,913,485 |
) |
Adjustments to reconcile net loss to net cash used in operating activities |
|
|
|
|
|
|
|
|
Non-controlling interest |
|
|
(86,551 |
) |
|
|
(109,564 |
) |
Share based compensation |
|
|
142,017 |
|
|
|
2,940,424 |
|
Deferred revenue |
|
|
(216,742 |
) |
|
|
356,619 |
|
Net Non-cash items in other income |
|
|
(1,202,201 |
) |
|
|
|
|
Impairment for Goodwill |
|
|
636,000 |
|
|
|
|
|
Provision for bad debt |
|
|
16,238 |
|
|
|
|
|
Depreciation and amortization |
|
|
2,454,637 |
|
|
|
2,533,985 |
|
Non-cash interest |
|
|
73,442 |
|
|
|
114,802 |
|
Changes in assets and liabilities |
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
(1,503,755 |
) |
|
|
3,002,425 |
|
Prepaid expenses and other assets |
|
|
384,403 |
|
|
|
(1,047,811 |
) |
Accounts payable and accrued expenses |
|
|
971,202 |
|
|
|
(2,943,154 |
) |
Net cash used in operating activities |
|
|
(3,267,492 |
) |
|
|
(5,065,759 |
) |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of portfolios and client acquisition costs |
|
|
(5,413,264 |
) |
|
|
(1,885,098 |
) |
Receipt of excess deposits |
|
|
– |
|
|
|
149,826 |
|
Purchase of equipment and changes in other assets |
|
|
(114,931 |
) |
|
|
(103,341 |
) |
Net cash used in investing activities |
|
|
(5,528,195 |
) |
|
|
(1,838,613 |
) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
Proceeds from sale of common stock |
|
|
– |
|
|
|
14,884,435 |
|
Proceeds from indebtedness |
|
|
2,131,500 |
|
|
|
3,678,824 |
|
Repayment of indebtedness |
|
|
(2,785,134 |
) |
|
|
(998,780 |
) |
Related party advances |
|
|
– |
|
|
|
– |
|
Contributed capital |
|
|
– |
|
|
|
– |
|
Net cash (used in) provided by financing activities |
|
|
(653,634 |
) |
|
|
17,564,479 |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash |
|
|
(34,399 |
) |
|
|
(20,899 |
) |
Net (decrease) increase in cash |
|
|
(9,483,720 |
) |
|
|
10,639,208 |
|
|
|
|
|
|
|
|
|
|
Cash and restricted cash at beginning of year |
|
|
11,733,271 |
|
|
|
1,094,063 |
|
Cash and restricted cash at end of year |
|
$ |
2,249,551 |
|
|
$ |
11,733,271 |
|
|
|
|
|
|
|
|
|
|
Supplemental disclosure of cash flow information |
|
|
|
|
|
|
|
|
Cash paid during the period for: |
|
|
|
|
|
|
|
|
Interest |
|
$ |
773,737 |
|
|
$ |
1,074,820 |
|
Taxes |
|
$ |
261,871 |
|
|
$ |
86,942 |
|
Shares issued for redemption of indebtedness |
|
$ |
– |
|
|
$ |
379,874 |
|
Shares issued in settlement of related party debt |
|
$ |
– |
|
|
$ |
378,253 |
|
Contact:
Net Element, Inc.
+1 (786) 923-0502
www.netelement.com
media@netelement.com
Corporate Communications:
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkWire.com

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NetworkNewsWire (NNW)
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212.418.1217 Office
Editor@NetworkNewsWire.com
Genprex, Inc. (NASDAQ: GNPX), a clinical-stage gene therapy company developing a new approach to treating cancer based upon a novel proprietary technology platform, today announced a clinical and corporate update and the filing of financial results for the year ended December 31, 2018 on Form 10-K with the United States Securities and Exchange Commission.
“Over the past year, we made great progress in advancing the development of our gene therapy platform, including Oncoprex™ immunogene therapy for non-small cell lung cancer,” said Rodney Varner, Chairman and Chief Executive Officer of Genprex. “I’m pleased with our progress and am excited to continue development of our gene therapies for cancer into 2019 and beyond. I’m confident, given all we’ve accomplished in the past year, that 2019 will be a landmark year for Genprex.”
“As we continue to advance our clinical operations and manufacturing programs, Genprex is well positioned to make 2019 a pivotal year,” Julien L. Pham, MD, MPH, President and Chief Operating Officer, stated. “From our successful IPO launch on NASDAQ, to completing a $10 million private placement, we are gaining momentum to reach the important milestones we set for ourselves.”
Clinical Development and Corporate Update
Genprex’s accomplishments for 2018 and early 2019 include:
- Completing its initial public offering and listing of common stock on NASDAQ Capital Market.
- Completing a $10 million private placement.
- Contracting with Accenture to provide clinical data management services to help accelerate the clinical development of Genprex’s lead drug candidate, Oncoprex™.
- Contracting with WIRB-Copernicus Group (WCG) to provide site selection and feasibility services, including Institutional Review Board (IRB) and Institutional Biosafety Committee (IBC) oversight for new clinical trial sites that Genprex anticipates adding to participate in its Phase I/II clinical trial evaluating the combination of Oncoprex™ and erlotinib (Tarceva®) in non-small cell lung cancer (NSCLC).
- Selecting 4Clinics as a CRO to provide clinical and regulatory support for Genprex’s clinical development program in the form of biostatistics, statistical programming and analysis, as well as medical and scientific writing for the Phase I/II clinical trial.
- Entering into an agreement with the University of Texas at Austin Dell Medical School to establish executive offices at the school’s Health Discovery Building, joining the WorkSpaces @ Texas Health CoLab.
- Establishing offices in Cambridge, MA, where Dr. Julien Pham, President and COO will oversee the clinical development of Genprex’s lead drug candidate, Oncoprex™.
- Entering into Amendment No. 2 to Clinical Trial Agreement with The University of Texas MD Anderson Cancer Center (MD Anderson) for continued conduct of Phase I/II clinical trial at MD Anderson.
- Entering into a research agreement with MD Anderson for development of a therapeutic approach to treating cancer using TUSC2, the active agent in Genprex’s lead product candidate Oncoprex, in combination with immunotherapies; and for the development and the use of biomarkers to predict patient response to TUSC2 therapy.
- Entering into an agreement with Aldevron, a leading contract manufacturing organization, to supply TUSC2 (Tumor Suppressor Candidate 2) plasmid DNA for use in Genprex’s clinical development program evaluating Oncoprex for the treatment of NSCLC.
- Entering into agreements with additional contract manufacturing organizations to assist with manufacturing scale-up and transfer of manufacturing processes from manufacturing facilities of MD Anderson Cancer Center to commercial facilities.
- Appointing Jan Stevens, RN as Vice President of Clinical Operations, Eric Chapdelaine as Senior Director of Pharmaceutical Sciences and Manufacturing, Kalyn Dabbs as Senior Manager of Communications and Marketing, and John N. Bonfiglio, Ph.D. to Board of Directors.
- Launching a state-of-the-art website and overhauled corporate communications capabilities, including the introduction of a new investors email notification system.
2018 Financial Update
Genprex’s research and development expense was $971,427 for the year ended December 31, 2018, compared to $289,934 for the year ended December 31, 2017. This increase of $681,493 was due to the Company’s focus on improving clinical strategies, expanding research activities, refining existing manufacturing processes, and developing new manufacturing and logistics processes to support future research and development activities. Genprex had a cash position of $8.6 million as of December 31, 2018.
About Genprex, Inc.
Genprex, Inc. is a clinical stage gene therapy company developing potentially life-changing technologies for cancer patients, based upon a unique proprietary technology platform, including Genprex’s initial product candidate, Oncoprex™ immunogene therapy for non-small cell lung cancer (NSCLC). Genprex’s platform technologies are designed to administer cancer-fighting genes by encapsulating them into nanoscale hollow spheres called nanovesicles, which are then administered intravenously and taken up by tumor cells where they express proteins that are missing or found in low quantities. Oncoprex has a multimodal mechanism of action whereby it interrupts cell signaling pathways that cause replication and proliferation of cancer cells, re-establishes pathways for apoptosis, or programmed cell death, in cancer cells, and modulates the immune response against cancer cells. Oncoprex has also been shown to block mechanisms that create drug resistance. Visit the company’s web site at www.genprex.com or follow Genprex on Twitter at twitter.com/genprex, Facebook at facebook.com/genprexinc, and LinkedIn at linkedin.com/company/genprex.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the effects of Oncoprex on cancer, alone or in combination with other drugs, our plans to add additional clinical trial sites, our plans to scale-up and transfer our manufacturing processes to commercial facilities, the effect of methods for predicting patients’ response to therapy, the products and services we expect to receive from companies we contract with and the effect of those products and services on the development of Oncoprex™, and statements about our business plans. Risks that contribute to the uncertain nature of the forward-looking statements include: the presence and level of TUSC2’s effect on cancer; the ability of companies we contract with to provide products and services to us, our ability to utilize those products and services, and the effect of those products and services on the development of Oncoprex™; the effect on cancer of combining TUSC2 with immunotherapies or other drugs; the timing, success and cost of our clinical trials and planned clinical trials of TUSC2 and Oncoprex and other potential product candidates; the timing and success of obtaining FDA approval of Oncoprex and our other potential product candidates; the success, cost and timing of our product candidate development activities; our ability to execute on our strategy; regulatory developments in the United States and foreign countries; and our estimates regarding expenses, future revenue and capital requirements. These and other risks and uncertainties are described more fully under the caption “Risk Factors” and elsewhere in our filings and reports with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190401005248/en/
Genprex, Inc.
(877) 774-GNPX (4679)
Investor Relations
GNPX Investor Relations
(877) 774-GNPX (4679) ext. #2
investors@genprex.com
Media Contact
Genprex Media Relations
Kalyn Dabbs
(877) 774-GNPX (4679) ext. #3
media@genprex.com
TORONTO, April 1, 2019 – Canopy Rivers Inc. (“Canopy Rivers” or the “Company”) (TSXV: RIV) is pleased to share that its portfolio company, James E. Wagner Cultivation Corporation (“JWC“) (TSXV: JWCA) (OTCQX: JWCAF), has received its cultivation licence from Health Canada for its Kitchener-based commercial scale production facility (“JWC2“). This second licence launches the initial phase of JWC2, a 345,000 square foot production and distribution complex where JWC is rolling out more than 130 individual production rooms utilizing JWC’s proprietary GrowthSTORM™ Dual Droplet cultivation platform and methodologies. With the newly licenced facility located just minutes from JWC’s already licenced pilot facility, JWC is well-positioned for an efficient ramp-up and expects to commence cannabis production at JWC2 immediately.
“While optimizing production methodologies at their already licenced pilot facility, JWC has concurrently built out and implemented refinements and learnings for production at commercial scale,” said Daniel Pearlstein, EVP, Strategy, of Canopy Rivers. “We are pleased to see Health Canada reward JWC for the quality of their operations, and their disciplined approach to expansion with the issuance of this second site licence.”
Canopy Rivers believes that JWC’s multigenerational cannabis and hemp experience, its unique and proprietary production methodologies, and its disciplined and de-risked path to scale makes JWC a strong constituent within the Canopy Rivers ecosystem. After making its initial investment in 2017, the Company has continued to support JWC and currently holds approximately 13% of the issued and outstanding common shares in the capital of JWC on a fully-diluted basis. Additionally, Canopy Rivers receives a long-term royalty cash flow stream from JWC with a minimum annual payment of approximately $488,000. The royalty has a term of 20 years.
“We have seen strong demand for standardized, quality-controlled indoor cannabis within both the medical and adult use cannabis markets,” continued Pearlstein. “Until now, JWC has focused on delivering an exceptional experience to a concentrated population of patients and through Canopy Growth’s Spectrum Cannabis online store. With this second site licence in hand and the expanded production facility now online, JWC is well-positioned to bring their premium quality-controlled cannabis products to patient and consumer markets on a much larger scale.”
For more information regarding the Company’s investment in JWC, please refer to the joint management information circular of Canopy Rivers Corporation and the Company dated August 8, 2018, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com. For additional information about JWC, please refer to JWC’s profile on SEDAR or their website at www.jwc.ca.
About Canopy Rivers:
Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers works collaboratively with Canopy Growth Corporation (TSX: WEED, NYSE: CGC) to identify strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem.
Forward-Looking Statements
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Canopy Rivers with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the strength of JWC in the Canopy Rivers ecosystem; JWC’s ability to bring their cannabis products to patient and consumer markets on a much larger scale; and other expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Canopy Rivers believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Canopy Rivers. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; JWC’s ability to cultivate cannabis at scale; the ability of JWC to obtain a licence to sell cannabis under applicable legislation in Canada; the ability to secure distribution and sales channels; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in Canopy Rivers’ final short form prospectus dated February 21, 2019, filed with Canadian securities regulators and available on Canopy Rivers’ profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Canopy Rivers has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Biotechnology company and drug-delivery platform innovator Lexaria Bioscience (CSE: LXX) (OTC: LXRP) utilizes disruptive technology for the improved delivery of bioactive compounds. A recent article discussing this reads, “Lexaria’s technology has been shown to be effective in numerous global studies, significantly assisting rapidity and quantity of absorption for a range of lipophilic (fat-soluble), bioactive molecules. In essence, the company disrupts the manner in which cannabinoids enter the bloodstream through the gastrointestinal tract (http://nnw.fm/Fq0to). Lexaria’s emphasis on oral ingestion provides a practical and often healthier option to other delivery methods for bioactive substances used extensively today. This includes inhalational delivery via smoking.”
To view the full article, visit: http://nnw.fm/h10OH
About Lexaria Bioscience Corp.
Lexaria Bioscience has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the United States and Australia for utilization of its DehydraTECH(TM) delivery technology. Lexaria’s technology provides increases in intestinal absorption rates, more rapid delivery to the bloodstream, and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, nonsteroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LXRP are available in the company’s newsroom at http://nnw.fm/LXRP
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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New York, New York–(March 29, 2019) – Genprex Inc. (NASDAQ: GNPX)announces the availability of a NetworkNewsAudio publication titled, “Advanced Medical Technologies Provides Unprecedented Targeting in Cancer Therapy.”
To hear the NetworkNewsWire Audio version, visit: http://nnw.fm/XRt4d
To read the full editorial, visit: http://nnw.fm/tB7Li
A multiplicity of potential breakthrough treatments to fight cancer are in varying stages of clinical development, and many are focused on the promise of advanced gene therapies. Genprex Inc. (NASDAQ: GNPX) (GNPX Profile) is working to bring its potentially life-changing immunogene therapy, Oncoprex, to market.
Genprex already has 30 issued patents for its platform technologies and gene therapies. The company’s Oncoprex immunogene therapy combined with the targeted therapy erlotinib is in the Phase II portion of a Phase I/II clinical trial, and the combination of Oncoprex with immunotherapies is in preclinical development. The company is also conducting research to find biomarkers to identify patients most likely to benefit from Genprex treatments, as well as other drugs that will be synergistic with Genprex gene therapies.
About Genprex, Inc.
Genprex, Inc. is a clinical stage gene therapy company developing potentially life-changing technologies for cancer patients, based upon a unique proprietary technology platform, including Genprex’s initial product candidate, Oncoprex™ immunogene therapy for non-small cell lung cancer (NSCLC). Genprex’s platform technologies are designed to administer cancer fighting genes by encapsulating them into nanoscale hollow spheres called nanovesicles, which are then administered intravenously and taken up by tumor cells where they express proteins that are missing or found in low quantities. Oncoprex has a multimodal mechanism of action whereby it interrupts cell signaling pathways that cause replication and proliferation of cancer cells, re-establishes pathways for apoptosis, or programmed cell death, in cancer cells, and modulates the immune response against cancer cells. Oncoprex has also been shown to block mechanisms that create drug resistance. Visit the company’s web site at www.genprex.com or follow Genprex on Twitter at twitter.com/genprex, Facebook at facebook.com/genprexinc, and LinkedIn at linkedin.com/company/genprex.
About NetworkNewsAudio
NetworkNewsAudio (NNA) , a NetworkNewsWire (NNW) Solution, allows you to sit back and listen to market updates, CEO interviews and a Company AudioPressRelease (APR). These audio clips provide snapshots of position, opportunity and momentum. NetworkNewsAudio (NNA) can assist your company by cutting through the overload of information in today’s market, NNA brings its clients unparalleled visibility, recognition and brand awareness. NetworkNewsWire (NNW) is where news, content and information converge. NetworkNewsWire (NNW) is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of more than 5,000 key syndication outlets across the nation.
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
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- The two new cannabidiol-infused coffee brands from Youngevity are expected to become available in May, allowing the company the opportunity to establish a solid presence within the expanding market
- The first brand, HempFX, will be a direct sales product, while Javalution is set to become available later in May for retail store distribution
- The company is cultivating a market that appeals to the over 100 million coffee drinkers in the U.S. who are also aware of the benefits of cannabidiol-infused beverages
The U.S. market for cannabidiol-infused beverages is expanding rapidly, with forecasts calling for a valuation of $260 million by 2022. The revenue from such products could outpace all other industry representatives, capturing almost 20 percent of the edibles market by 2022, per industry data (http://nnw.fm/QPd6d).
There are several reasons for the growing popularity of such beverages. Legalization measures in the U.S. are the first and most prominent reason why the market is anticipated to grow. In addition, consumers are…
Read more »
NOTE TO INVESTORS: The latest news and updates relating to YGYI are available in the company’s newsroom at http://nnw.fm/YGYI
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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The Company’s entry into protein therapeutics and nanoemulsion solutions using breakthrough technologies coupled with its core instruments enable it to provide transformative solutions to the life sciences industry
Easton, Pennsylvania–(March 29, 2019) – Small Caps Daily recently published a full report on Pressure BioSciences, Inc. (OTCQB: PBIO), after the Company’s latest surge in press coverage piqued the publication’s interest. The media interest is warranted, as it surrounds the commercial launch of Pressure BioSciences’ Biopharmaceutical Contract Services Business. This newly launched vertical uses the Company’s pressure-based technologies to provide a wide range of solutions across various industries, but the greatest impact will likely be in the field of life sciences.
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The Company acquired intellectual property assets through its acquisition of BaroFold, Inc. in December 2017, which allowed Pressure BioSciences to expand its capabilities in the field of protein therapeutics. The objective of this acquisition was to develop a platform, which provides disaggregation solutions for protein-based drugs to large pharma and biotech companies and to help them meet regulatory requirements. This technology is referred to as the BaroFold platform and it is intended to work towards the dissolution of aggregated proteins in drugs and improve the product efficacy and safety for both new-drug entities and biosimilar products. Since there is an increase in the production of protein-based drugs, particularly in the field of immuno-oncology and for the cure of autoimmune diseases, the Company’s management team expects the revenues within this stream to improve rapidly.
Interestingly, Pressure Bio’s new business vertical has strong synergies with its initial market focus, involving the supply of pressure instruments to research laboratories. In fact, the capabilities developed for the protein therapeutics segment have enabled the Company to change its target market for instruments from academic research institutions to large pharmaceutical and biotech companies like Roche because the same instruments supplied by the Company in this segment are also employed in the protein disaggregation process. The Company anticipates significantly larger revenues and cash flows from its core pressure cycling technology instruments business, as it is now supplying its products to corporations with large R&D budgets and shorter sales cycles.
Currently, the main indeterminate factor in terms of the technology that Pressure Bio is developing within its pipeline is their Ultra Shear Technology. The purpose of this technology is to enable mixing oil and water using pressure greater than 20,000 psi, thereby resulting in the creation of nanoemulsion solutions. Such formulations have immense potential application across multiple industries, such as food and beverages, inks, paints, cosmetics, pharmaceuticals, and nutraceuticals. A good example of the use of this technology would be its employment in the preparation of higher quality, homogenized, extended shelf-life or room temperature stable, low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies, such as dairy products.
Dr. Bradford A. Young, Pressure BioSciences’ Senior Vice President and Chief Commercial Officer, asserts, “The new Ultra Shear Technology is probably one of the most exciting parts of our business today. Since it involves a high level of intellectual property, we look forward to monetizing it very soon through licensing revenues.”
For more details on the Company, please visit https://smallcapsdaily.com/pressure-biosciences:-changing-the-future-of-the-life-sciences-industry/
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Email: info@pressurebiosciences.com
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences industry. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions (e.g., cell lysis, biomolecule extraction). Our primary focus is in the development of high pressure-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, food science, soil & plant biology, forensics, and counter-bioterror applications. Additionally, we are actively expanding the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired protein disaggregation and refolding technology from BaroFold, Inc. to allow entry into the biologics manufacturing and contract research services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology (UST™) platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g., oils and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies.
Website: https://www.pressurebiosciences.com/
Global technology and value-added solutions group Net Element (NASDAQ: NETE), through its wholly owned subsidiary Aptito, delivers comprehensive business-management solutions and cloud-based point of sale (“POS”) for the restaurant industry. A recent article discussing the company reads, “A quality POS system ensures quality service, whether it’s used in a gourmet restaurant or a quick service restaurant (http://nnw.fm/r47Ug). In the second case, customers are looking for quick services and convenience, and having to wait for a payment to be processed takes away from that experience. . . . Innovative POS solutions like those provided by Aptito are also a good choice for small restaurants, startups and businesses trying to establish their market positions with limited budgets.”
To view the full article, visit: http://nnw.fm/WTOt2
About Net Element Inc.
Net Element (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the United States and selected emerging markets. In the U.S., the company aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, the company’s cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest-growing companies in North America on Deloitte’s 2017 Technology Fast 500. In 2017, Net Element was recognized by South Florida Business Journal as one of 2016’s fastest-growing technology companies. Further information is available at www.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://nnw.fm/NETE
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Los Angeles, California-based Cannabis Strategic Ventures (OTC: NUGS) is leveraging a diverse brand portfolio to grab opportunity and garner a corner of the $10 billion cannabis and $900 million hemp industries. A recent article discussing this reads, “One of its major subsidiaries, Pure Applied Sciences Inc., has cultivated a rich portfolio of ultra-high quality products. Its main brand is PureOrganix, a line of organic and pure cannabis oils and related accessories. The brand is responsible for noteworthy products like a ‘redefined’ vape pen made from environmentally friendly materials, which features 400 percent more battery power than similar offerings from competitors. All PureOrganix products, also including batteries and apparel, conform to the most stringent current good manufacturing practices (“cGMP”) and meet FDA guidelines for active pharmaceuticals ingredients (“API”), an achievement that most small companies find extremely difficult to attain.”
To view the full article, visit: http://nnw.fm/Ahde4
About Cannabis Strategic Ventures Inc.
Cannabis Strategic Ventures is a Los Angeles-based firm that incubates, develops and partners with category leaders within the cannabis sector. The firm’s NUGS brand experience provides mentorship and a range of essential services to emerging and existing cannabis consumer brands. The company recently completed a name and symbol change from Cascade Energy Inc. Cannabis Strategic Ventures is publicly traded on the U.S. Over-the-Counter Market with the stock symbol NUGS. For more information, visit the company’s website at www.CannabisStrategic.com.
NOTE TO INVESTORS: The latest news and updates relating to NUGS are available in the company’s newsroom at http://nnw.fm/NUGS
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Mayfair Mall in Wauwatosa, Wisconsin home to sixth Seventh Sense Shop
COLUMBUS, OH, March 28, 2019 – Green Growth Brands, Inc. (CSE: GGB) (OTCQB: GGBXF) (GGB or the Company) is pleased to announce the opening of its newest Seventh Sense Botanical Therapy CBD shop today at Mayfair Mall in Greater Milwaukee, a Brookfield Properties center. This new location represents the sixth Seventh Sense Shop to open in the United States.
“Mayfair Mall is the premier mall in Greater Milwaukee and we look forward to bringing a remarkable CBD store experience to new customers in the region,” said Peter Horvath, CEO of Green Growth Brands. “Physical shops are our strongest marketing assets, and our presence in the new location will drive hundreds-of-thousands impressions with consumers. As we gear-up to open over 100 CBD shops by mid-summer we are pleased with early signs of conversion, repeat purchases and building engagement with our current shops and online with ShopSeventhSense.com.”
The Seventh Sense CBD shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The ever-expanding product offering includes CBD-infused body lotion, muscle balm, body wash, bath salts, sugar scrub, bath bomb, lip balm, and face oil.
About Green Growth Brands
Green Growth Brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love. Led by Peter Horvath, the GGB team is full of retail and consumer packaged goods experts with decades of experience building successful brands. Join the movement at GreenGrowthBrands.com.
About Seventh Sense Botanical Therapy
Seventh Sense Botanical Therapy creates CBD-infused botanical body care using the finest ingredients on earth. Crafted with wellness in mind, Seventh Sense aims to make CBD an accessible part of self-care routines across the country. Discover the magic of CBD at shops across the country and online at ShopSeventhSense.com.
Cautionary Statements:
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend”, “forecast” and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks, including those factors described under the heading “Risks Factors” in the Company’s Annual Information Form dated November 26, 2018 which is available on the Company’s issuer profile on SEDAR.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act“), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.
- Youngevity International named among ‘Top 100 Global Direct Selling Companies’
- Khrysos Industries, one of Youngevity’s subsidiaries, recently acquired 45 acres of land geared for research and development, as well as hemp plant genetic research
- CLR Roasters, another of Youngevity’s subsidiaries, has experienced burgeoning success within the coffee and espresso market
Youngevity International Inc. (NASDAQ: YGYI), a leading omni-direct lifestyle company, expects to see continued growth in 2019 as a result of its powerhouse subsidiaries, which are increasing their industry presence through retail expansion and land acquisition.
The company, which has been named among the ‘Top 100 Global Direct Selling Companies’, holds a diversified portfolio of goods and services in a variety of markets. Specifically, Youngevity offers products in the…
Read more »
NOTE TO INVESTORS: The latest news and updates relating to YGYI are available in the company’s newsroom at http://nnw.fm/YGYI
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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NEW YORK, March 28, 2019 — via NetworkWire — Genprex Inc. (NASDAQ:GNPX) today announces its placement in an editorial published by NetworkNewsWire (“NNW”), a multifaceted financial news and publishing company for private and public entities.
To view the full publication, titled “Advanced Medical Technologies Provides Unprecedented Targeting in Cancer Therapy,” visit: http://nnw.fm/l3DkV
Genprex is on the cusp of potentially delivering life-changing therapeutics for cancer patients by utilizing the company’s novel proprietary technology platform. Genprex’s initial product candidate, Oncoprex, an immunogene therapy for non-small cell lung cancer (NSCLC), addresses the world’s leading cause of cancer death, which kills more than 140,000 patients in the United States each year alone.
Oncoprex encapsulates TUSC2, a powerful proven tumor suppressor gene, in a cholesterol nanoparticle engineered to target cancer cells. As Genprex chairman and CEO Rodney Varner explained, “It’s a systemic targeted approach. We say that the treatment is ‘targeted’ because the lipid nanoparticles are designed to be attracted like a magnet to the cancer cells and have an opposite charge.”
About Genprex, Inc.
Genprex, Inc. is a clinical stage gene therapy company developing potentially life-changing technologies for cancer patients, based upon a unique proprietary technology platform, including Genprex’s initial product candidate, Oncoprex™ immunogene therapy for non-small cell lung cancer (NSCLC). Genprex’s platform technologies are designed to administer cancer fighting genes by encapsulating them into nanoscale hollow spheres called nanovesicles, which are then administered intravenously and taken up by tumor cells where they express proteins that are missing or found in low quantities. Oncoprex has a multimodal mechanism of action whereby it interrupts cell signaling pathways that cause replication and proliferation of cancer cells, re-establishes pathways for apoptosis, or programmed cell death, in cancer cells, and modulates the immune response against cancer cells. Oncoprex has also been shown to block mechanisms that create drug resistance. Visit the company’s web site at www.genprex.com or follow Genprex on Twitter at twitter.com/genprex, Facebook at facebook.com/genprexinc, and LinkedIn at linkedin.com/company/genprex.
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets, (3) enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, please visit https://www.NetworkNewsWire.com.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
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HAMILTON, ON, March 28, 2019 – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF) is pleased that Hamilton City Council has voted to approve the Company’s settlement offer, to allow TGOD to operate its cannabis greenhouse in Ancaster, Ontario upon confirmation of the settlement by the Local Planning Appeal Tribunal at a meeting scheduled for April 25, 2019.
“This is tremendous news for our Company and for the city of Hamilton,” said Brian Athaide, CEO and Director of TGOD. “We are a global company that has its roots in Hamilton, and we are looking forward to expanding our production of high-quality, organic cannabis right here in our home town. This is important to TGOD’s ability to generate considerable near-term revenue while the Company continues to approach its global planned output of 219,000 kgs.”
Once complete, the combined facilities in Ancaster, Ontario will be capable of growing 17,500 kgs of organic cannabis annually. The newly constructed, LEED-designed purpose-built greenhouse is expected to begin growing by June and employ up to 85 people.
“We are committed to this city and we look forward to working with Council on achieving its goal of creating a Life Sciences Centre of Excellence in Hamilton. It has been a challenging year,” Athaide said, “but throughout it all, we have been encouraged by the hundreds of expressions of support from our neighbours, local businesses and the community.”
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.
TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.
For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
Forward-Looking Information Cautionary Statement
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about future research, development and innovation by the Company, statements about future facility construction and capital costs, statements about future jobs to be offered by the Company, statements about production timing, efficiencies, capacities and ramp-up, statements about future production, statements about the outcome of the ratification of the settlement by the Local Planning Appeal Tribunal, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.
NetworkNewsWire Editorial Coverage: Pharmaceutical companies are now employing advanced medical breakthroughs and new technologies, including gene therapies and nanoparticle engineering, to fight every type of cancer.
- Gene therapies are being developed to more effectively target the treatment of cancer.
- Non-small cell lung cancer (NCSLC) is the leading cause of cancer death.
- Genprex Inc. is advancing Oncoprex, shown to benefit lung cancer patients in early trials.
A multiplicity of potential breakthrough treatments to fight cancer are in varying stages of clinical development, and many are focused on the promise of advanced gene therapies. Genprex Inc. (NASDAQ: GNPX) (GNPX Profile) is working to bring its potentially life-changing immunogene therapy, Oncoprex, to market. Pfizer Inc. (NYSE: PFE) just gained Food and Drug Administration (FDA) approval for TRAZIMERA(TM), and Tocagen Inc. (NASDAQ: TOCA) is studying Toca 511. Novartis AG (NYSE: NVS) scientists are exploring immunotherapy matchmaking. Other biotechnology companies such Audentes Therapeutics Inc. (NASDAQ: BOLD) are developing innovative gene therapy products for patients living with…
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About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by NNW are solely those of NNW. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW for any investment decisions by their readers or subscribers. NNW is a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.
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POINT ROBERTS, Wash. and DELTA, British Columbia, March 27, 2019 — Investorideas.com, a leading investor news resource covering tech and cannabis stocks, releases a snapshot looking at how payment technology and data solutions have evolved due to the regulatory hurdles facing the cannabis industry.
PaymentsJournal discussed the “cannabis payments conundrum” and how as the cannabis industry matures we are beginning to see an evolution in payment and data tech companies.
From the article: “The next few years will be hugely important in bringing more validity to the cannabis industry as it continues to expand into new legalized markets. Tapping into the compliant payments solutions will ensure that cannabis dispensaries and retailers will operate above reproach, something their customers/patients, employees, banking partners, and state regulators will appreciate.”
Global Payout Inc. (OTC: GOHE) and its operating subsidiary, MTrac Tech Corp. just announced that Carol Gabel, a member of the Company’s government relations team at MGR2 has been invited to speak at the New Jersey Cannabis Insider event on April 3rd.
The timing is critical, as next week New Jersey lawmakers are expected to vote on legalization. Gabel will discuss the pending changes in the cannabis payments sector and the company’s flagship product, the MTrac payment platform.
The event brings together many of the key players from throughout the cannabis industry in New Jersey and surrounding tri-state area to provide networking opportunities for both new and established businesses in this rapidly expanding industry.
“Over the course of my career I have had the distinguished opportunity to participate in the legislative process,” said Ms. Gabel. “With this experience I have gained a deep understanding of the legal challenges facing the cannabis industry and have harnessed that experience to help businesses succeed. One of the most challenging aspects of working in the cannabis industry is access to reliable banking and merchant processing services, and I believe MTrac does a lot to solve those problems. MTrac’s payment platform helps both businesses and regulatory bodies by providing a secure tracking method for tracing purchases and solves the problems of cash only operations as well.”
The focus of the conference is to help attendees come away with an in-depth understanding of where the law stands, where the law is headed, and how to remain compliant in a complicated regulatory environment. Ms. Gabel intends to utilize this platform to discuss and highlight MTrac’s unique blockchain-powered cashless payment solution, and how states with legal recreational cannabis are leveraging the technology to increase safety and compliance across the board.
BLOCKSTRAIN TECHNOLOGY CORP. (TSXV: DNAX) (OTC: BKKSF) recently announced that it has entered into a letter of intent with Spark Digital Technologies Inc., whereby the Company will acquire all of the issued and outstanding securities of Spark and the business of Spark.
Spark is the owner of its proprietary platform, IgnitePro™, which was built exclusively for the cannabis industry.
The IgnitePro™ technology is connected globally and will be able to travel with cannabis plants and products as they move from cultivation to distribution. IgnitePro™ will produce reports, store documentation and track transports, and when combined with Blockstrain, is expected to ensure regulation and compliance standards are being met and protected on the blockchain.
Medical Cannabis Payment Solutions Inc. (OTC: REFG), another leading provider of regulatory-compliant financial services for state-sanctioned marijuana, announced back in September the launch of their nationwide banking solution for state-sanctioned cannabis (PayWithGo) and recently provided an update on its activities in 2018 and its 2019 strategic direction.
Jeremy Roberts, Company CEO, commented, “Our corporate mantra has always been compliance, security and accessibility. And we’re currently hitting on each of those principles. With the commercialization of Go!, which represents our single most important milestone to-date, we are on the cusp of an entire new era of growth and expansion as cannabis as well as other industries begin to adopt our payment solution.”
Canopy Rivers Inc. (TSXV: RIV) has also been keeping a close eye on the rise in cannabis tech having announced earlier in the year that it has completed an equity investment in Headset, Inc., a data and analytics service provider for the cannabis industry. Canopy Rivers subscribed for C$4,084,500 of Series A Preferred Shares in Headset, representing the Company’s first entry into a technology-focused cannabis vertical.
The US House Financial Services Committee is expected to vote on the SAFE Act in the coming weeks, which would permit commercial banks to offer services to cannabis companies that are in compliance with state law. With these developments, the cannabis landscape could change overnight and switch from a cash-based grey system to a transparent economic powerhouse. This will be good news for the many payment and data companies that have already postured to accommodate the cannabis space, and could also represent a massive missed opportunity for the regulated banking sector.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
For investors following payment stocks: visit the tech stocks directory.
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- Wholly owned subsidiary Aptito offers innovative business management and point of sale solutions
- Multiple options are available for small restaurants, startups and other businesses operating on limited budgets
- Company’s main focus is to improve customer satisfaction in an industry characterized by rapid growth and intense competition
Net Element Inc. (NASDAQ: NETE), a provider of innovative payment solutions, has developed a range of products that address the needs of the restaurant industry. Restaurant point of sale (POS) solutions are available to help industry representatives overcome various common issues and ensure the sustainable growth of their businesses.
Under wholly owned subsidiary Aptito, Net Element provides complete business management solutions and cloud-based POS for the…
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NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Pressure BioSciences (OTCQB: PBIO), a leader in the development and sale of high pressure-based instruments, consumables, and related services for the global life sciences and other industries worldwide, today announced the establishment of a Center of Excellence (“CoE”) at Dr. Christine Vogel’s laboratory at New York University’s Center for Genomics and Systems Biology. As a CoE, the lab will have free use of PBIO’s Barocycler 2320EXTREME (“2320EXT”) primary instrument system through the end of 2020. In addition, the collaboration will offer early access to new, modified, and/or improved versions of the 2320EXT instrument and its associated applications, as well as the opportunity to work closely with PBIO’s senior science and engineering staff on new developments in its pressure-based technology platforms. “We are pleased to have the opportunity to collaborate with Professor Christine Vogel, a well-respected thought leader in proteomics,” PBIO Chief Commercial Officer Dr. Bradford A. Young said in the news release. “We believe the 2320EXT has the potential to support and advance the exciting work that she and her team already have underway at the GSB Center. We further believe that the added exposure received by the PCT platform during the collaboration period will increase awareness of the benefits of our pressure-based technologies in helping to provide scientists with superior proteomic analyses. We believe this added awareness should result in increased products and services revenue in 2019 and beyond.”
To view the full press release, visit: http://nnw.fm/5WSlT
About Pressure BioSciences Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences industry. The company’s products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or “PCT”) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions (e.g., cell lysis, biomolecule extraction). PBIO’s primary focus is in the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of its pressure-based technologies in the following areas: (1) the use of its recently acquired PreEMT technology from BaroFold, Inc. to allow entry into the biologics contract research services sector, and (2) the use of its recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology (“UST”) platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g., oils and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. For more information, visit the company’s website at www.PressureBiosciences.com.
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Emerging business development technology innovator Pacific Software (OTC: PFSF) announced this morning its recognition as one of the “20 Most Promising AGTECH Solution Providers – 2019” by leading technology magazine CIOReview. The annual ranking of 20 leading AGTECH companies features the field’s best in technology solutions around the globe. Pacific Software’s platform, BOAPIN, is designed to assist in fueling growth of agricultural and industrial companies through digital marketing campaigns, market intelligence, blockchain technology and fintech applications for global supply chain management. “Being recognized by CIOReview is an honor, as it reflects our commitment to solve trade inefficiencies for suppliers and agricultural producers,” Pacific Software President Peter Pizzino said in the news release. “Having reliable, accurate and real-time information is an essential advantage in this trade process.”
To view the full press release, visit: http://nnw.fm/E2kQR
About Pacific Software Inc.
Pacific Software (OTC: PFSF) is an emerging development technology corporation positioned for investments, mergers and acquisitions of software technologies and platforms. The company intends to be uniquely positioned to deliver B2B and B2C blockchain solutions by utilizing IBM’s Hyperledger Blockchain Backend. Its BOAPIN.com platform will improve product traceability and will digitalize the trade process, including product certification, marketing, logistics, trade finance, cross border payment solutions and customs clearance through smart contract technology for global supply chain management. For more information, visit the company’s website at www.PacificSoftwareInc.com.
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- Lexaria Bioscience Corp. is the only company worldwide with patents issued for oral delivery of all cannabinoids
- Its proprietary technology bests traditional methods such as inhalation in several key ways
- The company continues to enhance its intellectual property portfolio as it pursues patents around the world
Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP), a food biosciences company, has developed a proprietary technology that has revolutionized the way cannabidiol (CBD) and other non-psychoactive cannabinoids are delivered into the bloodstream.
Lexaria, the only company worldwide with patents issued for oral delivery of all cannabinoids, has greatly improved the delivery of bioactive compounds. While cannabinoids typically enter the…
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NOTE TO INVESTORS: The latest news and updates relating to LXRP are available in the company’s newsroom at http://nnw.fm/LXRP
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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CannabisNewsWire Editorial Coverage: Analysts at Brightfield Group see CBD (cannabidiol) gobbling up a sizeable chunk of a projected $100 billion nutraceuticals 2022 U.S. market.
- $22 billion-plus CBD market could eclipse broader cannabis market
- Growing consensus about health benefits backed by clinical work, personal endorsements
- CBD found in everything from beverages and dog treats to pharmaceuticals and wellness products
The opening of the CBD floodgates represents a huge opportunity for plant-based wellness and health-product developers such as Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN) (WLDFF Profile) and Green Growth Brands Inc. (OTCQB: GGBXF) (CSE: GGB), a lifestyle-oriented developer of cannabis and CBD consumer products. Similarly, some of the fastest-growing producers in the industry today, such as Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Green Organic Dutchman (OTCQX: TGODF) (TSX: TGOD) and HEXO Corp. (NYSE: HEXO) (TSX: HEXO) all stand to benefit as the rising tide of the CBD market continues to see tremendous growth for…
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About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
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Vancouver, British Columbia–(March 26, 2019) – TransCanna Holdings Inc. (CSE:TCAN) (FSE: TH8) (“TransCanna” or “the Company”) provides the following update further to its press release dated March 25, 2019. The Company retained the services of GreenGrowth CPA , an independent third-party chartered professional accounting firm (the “Firm”) ‘s located in Los Angeles, CA specializing in legalized cannabis. Green Growth was engaged by the Company to determine the enterprise value of the proposed business to be conducted by the Company on the property, which constitutes and fully integrated cannabis operation with divisions for transportation & distribution, extraction, manufacturing and packaging, nursery and a growing. The Firm concluded with a valuation range of US$50 million – $75 million, as at January 31, 2019 using two different valuation methods to reach their conclusion. The operations were valued on a going concern basis.
The two different valuation methods used by the firm included the discounted cash flow method and revenue multiples.
In utilizing the discounted cash flow method, the Firm considered a number of scenarios with sensitive selective key drivers of value including market share, number of products to be launched and timing for approval of city and state licenses. Under the discounted cash flow method, a discount rate of 31.86% was applied based on the capital asset pricing mode and reviewed against published studies of required rates of return for early stage companies.
In utilizing the revenue multiples method, the Firm observed multiples of broadly similar listed businesses, and the revenue multiples implied by the Firm’s valuation were in the range of 3.1X to 36.9X. The Firm reviewed listed companies operating in both the United States in Canada to support the multiples implied.
A significant component of the valuation is based on the assumption of the Company being able to reach high growth rates and capture market share in a timely manner. A failure of the Company to do so would have a material negative impact on the indicative value range. The Firm reviewed varying scenarios to capture uncertainties relating to same as well as varying scenarios of the Company successfully launching differing numbers of products as the facility to reach the ranges provided The valuation also dependent on the Company obtaining all appropriate city and state licenses to operate the facility in a timely manner. The valuation report cautions that the Company must be reaching expected revenue targets in order to reach the valuation ranges.
The assumptions utilized in the valuation have not been tested by the Firm, and they have not audited or reviewed the complication of the cash flow forecasts based on assumptions, nor have they conducted detailed analysis of the industry. Sources of information for the business valuation include financial models provided by the Company, management presentations, other company business and financials, the Company’s website, publicly available information on comparable companies published by Bloomberg, Thomson Reuters Financial Markets and available on SEDAR, other publicly available information and press releases. The business valuation also compared 26 publicly traded companies in the industry.
The valuation does not constitute an appraisal of the value of the property and equipment on the forming the facility. A separate real estate appraisal performed by Valbridge Property Advisors was reviewed by the Firm which appraised the property at US$16.3 million including equipment.
The Firm was paid a flat fee by the Company to complete the valuation which was not dependent on any specified outcome.
A US$250,000 non-refundable deposit to secure the property, and the Company will pay an US$8 million down payment from the proceeds of the Company’s over-subscribed brokered private placement once closed (see news releases dated February 20, 2019 and March 14, 2019). The seller of the building has agreed to a carry back note of US$6.750 million at 7% p.a. interest only for up to thirteen months, with an initial maturity date of October 15, 2019, subject to a six-month extension. See March 20th press release for additional terms.
For further information, please visit the Company’s website at www.transcanna.com.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian based company providing branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.
Media Contact
TransCanna@talkshopmedia.com
604-738-2220
On behalf of the Board of Directors
James Pakulis
Chief Executive Officer
Telephone: (604) 609-6199
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to: the expected purchase of the facility, the terms of the facility acquisition, the payment of finders fees in relation thereto, the ability of the Company to secure financing and the acquisition of appropriate licenses for the facility. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43673
VANCOUVER, British Columbia, March 26, 2019 — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) reported today that it has signed an equipment purchase agreement with The Green Organic Dutchman Holdings Ltd. (“TGOD”) to provide TGOD with three additional large-scale 120 kW Radiant Energy Vacuum (“REV™”) machines equipped with Optional Support Equipment and Robotic Arms (the “Agreement”). TGOD has purchased the additional three REV™ processing lines to expand its drying capacity of premium, certified organic cannabis in Canada. The addition of three 120kW REV™ machines will increase its total royalty-bearing cannabis processing capacity to a combined total of 420kW of REV™ machinery. The Company previously announced on January 3, 2019 that EnWave, TGOD and Tilray, Inc. had entered into a sublicense agreement in Canada granting TGOD non-exclusive rights to use EnWave’s technology for processing cannabis.
The Agreement further validates the benefits of REV™ technology as a turnkey solution for rapidly drying cannabis and hemp at low-temperatures to provide a high-quality cannabis product. The Agreement also further expands the use of EnWave’s REV™ technology within the rapidly growing global medicinal and recreational cannabis market. EnWave’s strategy is to commercialize its proprietary REV™ technology throughout the global cannabis sector under its licensing and royalty business model.
About The Green Organic Dutchman
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Corporation, NutraDried Food Company, LLC, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
- nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;
- powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
- quantaREV® which is used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
EnWave Corporation
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net
John P.A. Budreski, Executive Chairman at +1 (416) 930-0914
E-mail: jbudreski@enwave.net
Deborah Honig, Corporate Development at +1 (647) 203-8793
E-mail: dhonig@enwave.net
Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third party claims referred to in this release are not guaranteed to be accurate. All third party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NetworkNewsBreaks – VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF) Announces Health Canada Approval for Canna Farms Subsidiary to Expand Hope Facility, Double BC Production
This Post Was Syndicated Under License Via QuoteMedia
VIVO Cannabis (TSX.V: VIVO) (OTCQX: VVCIF) on Friday announced receipt of approval from Health Canada for its wholly-owned subsidiary, Canna Farms Ltd., to begin cultivation in the expansion of its Yale Road facility in Hope, BC, resulting in its doubled cultivation capacity in the province. According to the update, production, product development space and automated packaging equipment is included in the expansion that is expected to be incorporated into the facility and brought on-line in mid 2019. The company expects to commence cultivation in the expanded area in May 2019. “Today’s approval of the Hope, British Columbia expansion is in addition to the Napanee, Ontario capacity increase approved by Health Canada yesterday,” VIVO Chief Executive Officer Barry Fishman said in the news release. “With the additional cultivation from Hope, VIVO’s current annual production capacity is now more than 8,000 kilograms with a goal to reach 11,000 kilograms later in 2019.”
To view the full press release, visit: http://nnw.fm/1yz2Z
About VIVO Cannabis(TM)
VIVO Cannabis(TM), based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licenses from Health Canada and operates world-class indoor cultivation facilities with proprietary plant-growing technology. VIVO has a collection of premium brands targeting unique customer segments, including Beacon Medical(TM), FIRESIDE(TM), Canna Farms(TM) and Lumina(TM). In August 2018, VIVO acquired Canna Farms, a premium cannabis company based in Hope, British Columbia. Canna Farms was B.C.’s first Licensed Producer and has several years of craft cultivation experience and expertise, as well as a significant patient base and positive cash flow. The Company is significantly expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany and Australia. VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics as well as a free telemedicine app. VIVO has a healthy balance sheet and is well-positioned to accelerate its growth in Canada and internationally. For more information, visit the company’s website at www.VivoCannabis.com.
NOTE TO INVESTORS: The latest news and updates relating to VVCIF are available in the company’s newsroom at http://nnw.fm/VVCIF
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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NetworkNewsWire
March 25, 2019 – 5:45 AM PDT
News by QuoteMedia
TORONTO, March 25, 2019 — Canopy Rivers Inc. (“Canopy Rivers” or the “Company”) (TSXV: RIV) congratulates Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) (“Canopy Growth”) and its portfolio company, Spot Therapeutics Inc. (“Spot”), on receiving a cultivation license from Health Canada for its Fredericton-based production and distribution facility. The newly licensed facility will operate under the flagship Tweed banner and is another important pillar in the Canopy family of companies’ commitment to establishing a local presence, engaging local trades, and creating economic opportunities within the provinces and communities the companies serve.
In 2017, Canopy Growth solidified its expansion strategy in Atlantic Canada when it acquired Spot and made significant local funding commitments in collaboration with Canopy Rivers, ultimately resulting in Canopy Growth being rewarded with one of the first provincial supply contracts in the cannabis industry, pursuant to a landmark MOU with the government of New Brunswick.
Canopy Rivers purchased the production facility at that time and entered into a long-term lease with Canopy Growth with respect to the facility, and also provided a significant capital commitment for the development of the New Brunswick-based project via a repayable debenture. The receipt of Spot’s cultivation license represents a triggering event under the debenture and initiates a long-term cash flow stream that is anticipated to be approximately $2.85 million per year, with a 25-year term. Commencement of the cash flow stream is expected to begin in September 2019.
“The long-term income stream from Spot, combined with our existing royalty portfolio, will further stabilize Canopy Rivers’ operating cash flow profile and provide us with additional financial resources to deploy as we continue to make investments in industry verticals we believe offer long-term strategic value for our portfolio partners and shareholders,” said Eddie Lucarelli, CFO of Canopy Rivers.
For more information regarding the Company’s investment in Spot, please refer to the joint management information circular of Canopy Rivers Corporation and the Company dated August 8, 2018, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.
About Canopy Rivers:
Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers works collaboratively with Canopy Growth (TSX: WEED, NYSE: CGC) to identify strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem.
Forward-Looking Statements
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Canopy Rivers with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the operation of the Spot facility under the Tweed banner; the size and expected start date of the cash flow stream; the long-term strategic value of Canopy Rivers’ investments; and other expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Canopy Rivers believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Canopy Rivers. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; the ability to cultivate and sell cannabis products; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in Canopy Rivers’ final short form prospectus dated February 21, 2019, filed with Canadian securities regulators and available on Canopy Rivers’ profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Canopy Rivers has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Canopy Rivers Inc.Karoline Hunter
Sr. Director, Investor Relations & Communications
E-mail: ir@canopyrivers.com |

- Lung cancer is one of the most prevalent and deadly cancers worldwide. Genprex aims to develop cutting-edge gene therapies to improve outcomes, which have not changed significantly in the past 25 years despite radical advances in drug development and novel therapeutic standards.
- Genprex holds a portfolio of 30 issued and two pending patents covering technologies and targeted molecular therapies, all exclusively licensed from University of Texas MD Anderson Cancer Center. Genprex technologies seek to bridge a critical gap by combining with targeted therapies and immunotherapies to provide treatments to large patient populations who otherwise would not benefit from these important cancer therapies, or who have become resistant to them.
- Genprex had a cash position of $10.3 million as of September 30, 2018.
Genprex Inc. (NASDAQ: GNPX) is a clinical-stage gene therapy company developing potentially life-changing technologies for cancer patients based upon a unique proprietary technology platform, including Genprex’s initial product candidate, Oncoprex immunogene therapy for non-small cell lung cancer (NSCLC). Genprex’s platform technologies are designed to administer cancer-fighting genes by encapsulating them into nanoscale hollow spheres called nanovesicles, which are then administered intravenously and taken up by tumor cells where they express proteins that are missing or found in low quantities.
Genprex holds a portfolio of 30 issued and two pending patents covering its technologies and targeted molecular therapies. The company’s research and development program is focused on identifying and…
Read more »
NOTE TO INVESTORS: The latest news and updates relating to GNPX are available in the company’s newsroom at http://nnw.fm/GNPX
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Vancouver, British Columbia–(March 25, 2019) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or “the Company”) recently signed definitive documents to purchase for US$15 million a 196,000 sq ft vertically integrated facility in northern California as announced on March 20, 2018. Included in the purchase is a total of 5.567 acres of land and institutional grade packaging and extraction equipment. The Company retained the services of an independent third-party business valuation firm (the “Firm”) to determine the enterprise value of the proposed business to be conducted by the Company on the property. The Firm concluded with a valuation range of US$50 million – $75 million using two different valuation methods to reach their conclusion.
“We are very pleased with the outcome of this valuation and understand now that execution is the key,” said Jim Pakulis, CEO of TransCanna. “Our business initiatives are very clear and we look forward to getting the facility operational in the months to come.”
The total purchase price for the Property was US$15 million. The Company’s CEO paid the seller a US$250,000 non-refundable deposit to secure the property, which has since been reimbursed by the Company, and the Company will pay an US$8 million down payment from the proceeds of the Company’s over-subscribed brokered private placement once closed (see news releases dated February 20, 2019 and March 14, 2019). The seller of the building has agreed to a carry back note of US$6.750 million at 7% p.a. interest only for up to thirteen months, with an initial maturity date of October 15, 2019, subject to a six-month extension. See March 20th press release for additional terms.
For further information, please visit the Company’s website at www.transcanna.com.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian based company providing branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.
Media Contact
TransCanna@talkshopmedia.com
604-738-2220
On behalf of the Board of Directors
James Pakulis
Chief Executive Officer
Telephone: (604) 609-6199
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to: the expected purchase of the facility, the terms of the facility acquisition, the payment of finders fees in relation thereto, the ability of the Company to secure financing and the acquisition of appropriate licenses for the facility. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cannabis-focused research and development company The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF) this morning announced that sales of its certified-organic cannabis have started with national distribution to medical patients. Per the update, a select group of patients across Canada called The Growers’ Circle now receives TGOD’s first certified-organic flower. The Growers’ Circle launch is a limited production rollout of TGOD’s premium product, allowing the company to perfect its distribution ahead of its production ramp-up and scaled rollout this year. “The launch of the Growers’ Circle is another significant moment in TGOD’s commercial story,” TGOD Director and Chief Executive Officer Brian Athaide said in the news release. “Our certified-organic cannabis is a premium experience for patients. We are proud of our product and excited to be sharing it with Growers’ Circle members.”
To view the full press release, visit: http://nnw.fm/V6mVj
About the Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings is a publicly traded, premium global organic cannabis company with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. The company grows high-quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned global capacity of 219,000 kgs. and is building 1,643,600 square feet of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark. For more information, visit the company’s website at www.TGOD.ca.
NOTE TO INVESTORS: The latest news and updates relating to TGODF are available in the company’s newsroom at http://nnw.fm/TGODF
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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