Breaking #Fintech #Stock News: Weyland Tech (OTCQX: $WEYL; $WEYLD) Reverse Splits Stock to Meet Nasdaq Listing Requirements

Breaking #Fintech #Stock News: Weyland Tech (OTCQX: $WEYL; $WEYLD) Reverse Splits Stock to Meet Nasdaq Listing Requirements

NEW YORK - February 27, 2020 (Investorideas.com Newswire) Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, has implemented a 1-for-13 reverse split of its common stock to be effective prior to the opening of the market tomorrow, February 27, 2020.

Read this news featuring Weyland in full at https://www.investorideas.com/CO/WEYL/news/2020/02272ReverseSplitsStock-Nasdaq.asp

The stock will begin trading on a post-split basis under the symbol, WEYLD, for 20 business days, after which it will return to trading under the symbol, WEYL. If the stock is listed on The Nasdaq Capital Market prior to the completion of the 20 business day period, the symbol may revert back to WEYL at that time.

"We expect that this reverse split will allow our stock price to meet the listing requirements for The Nasdaq Capital Market," said Weyland Tech CEO, Brent Suen. "We believe the Nasdaq listing will provide our investors with better trade execution and liquidity, as well as increase our visibility with retail and institutional investors."

"We know for our existing shareholders it has been a long road through this process and filled with great expectations," added Suen. "So, we would like to express our deepest appreciation for their patience and support as we execute this reverse split in preparation for Nasdaq."

The stockholders of Weyland Tech approved the reverse stock split on November 15, 2019, and the board of directors subsequently approved the implementation of the reverse stock split at the ratio of 1-for-13.

As a result of the split, every 13 shares of issued and outstanding common stock will be exchanged for one share of common stock. No fractional shares will be issued as a result of the reverse stock split. A holder of record of common stock on the effective date of the reverse stock split who would otherwise be entitled to a fraction of a share will be rounded up to the next whole share.

Each stockholder's percentage ownership interest in Weyland Tech and proportional voting power will remain unchanged, and the rights and privileges as the holders of the common stock will be unaffected.

The reverse stock split will not change the total number of shares of common stock or preferred stock authorized for issuance by the company. Additionally, the par value of the company's common stock will remain at $0.0001 per share.

Shareholders holding share certificates will receive information from Weyland Tech's transfer agent, Nevada Agency and Transfer Company, regarding the process for exchanging their shares of common stock. Shareholders with questions may contact the transfer agent at +1 (775) 322-0626.

Additional information regarding the reverse stock split is available in the definitive proxy statement filed by Weyland Tech with the U.S. Securities and Exchange Commission on October 21, 2019. The definitive proxy statement is available at the Investors page of the company website at www.weyland-tech.com and the SEC website.

Before the listing of the common stock on The Nasdaq Capital Market can occur, Nasdaq will need to approve the company's application for listing. There can be no assurance the application will be approved.

About Weyland Tech

Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.

Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.

About Push Interactive

The e-Commerce platform of Weyland's Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.

Important Cautions Regarding Forward-Looking Statements

This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the Company may not meet applicable Nasdaq Capital Market requirements necessary for listing and/or Nasdaq may not approve the Company's listing application; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.

Company Contact

Brent Suen, CEO
Weyland Tech Inc.

Media & Investor Contact

Ronald Both or Grant Stude
CMA
Tel (949) 432-7566

Weyland Tech (OTCQB:WEYL) is a featured fintech stock on

Investorideas.com

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Breaking #Fintech #Stock News: Weyland Tech (OTCQX: $WEYL; $WEYLD) Launches CreateApp Marketing Campaign Across Indonesia in Partnership with National Telco, Indosat Ooredoo; @weylandtechinc

Breaking #Fintech #Stock News: Weyland Tech (OTCQX: $WEYL; $WEYLD) Launches CreateApp Marketing Campaign Across Indonesia in Partnership with National Telco, Indosat Ooredoo; @weylandtechinc

NEW YORK, NY - February 27, 2020 (Investorideas.com Newswire) Weyland Tech, Inc. (OTCQX: WEYL) a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, has partnered with Indosat Ooredoo, Indonesia's second largest telecom provider, to launch a nationwide marketing campaign for Weyland's CreateApp mCommerce platform.

Read this news featuring WEYL in full at https://www.investorideas.com/CO/WEYL/news/2020/02271CreateApp-MarketingCampaign-Indonesia-IndosatOoredoo.asp

To drive signups, Indosat will offer the more than 6 million small and medium sized businesses (SMBs) in its nationwide subscriber network a 30-day free trial subscription to CreateApp. Indosat's internal sales teams will lead the effort, with its customer service supporting the end-users. Indosat SMB customers who subscribe to CreateApp will be billed through their Indosat cell phone bills. Weyland will provide Indosat an ad channel on CreateApp via Google AdMob.

The CreateApp platform-as-a-service enables businesses to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. It empowers SMBs to increase sales, reach more customers, manage logistics, conduct financial transactions, and promote their products and services in an easy, affordable and highly efficient way. The CreateApp user base, comprised of businesses across Southeast Asia, grew 47 percent last year to more than 360,000.

"This major marketing campaign with a trusted and large telecom provider like Indosat greatly expands our market reach in Indonesia where there is strong smartphone penetration and virtually no competition for DIY app platforms like CreateApp," noted CreateApp's chief product officer and founder, Eddie Foong. "This campaign also presents up- and cross-sell opportunities for AtozPay, our fintech solution for businesses to go cashless in a market where 60% of the adult population is unbanked."

The Indonesia market has the fastest adoption of mobile apps, as well as the largest and fastest-growing Internet economy expected to grow at a 49% CAGR to more than $100 billion by 2025, according to Adjust Global App Trends 2019 Global Benchmarks Report.

"Our DIY app platform is a great fit with Indosat's subscriber base, allowing users to easily market, promote and sell their goods and services via mobile," commented Weyland CEO, Brent Suen. "CreateApp offers a valuable, unique and much needed solution for Indosat's subscribers looking to compete in the fast-growing mCommerce and eCommerce markets. For Indosat, we see it creating more loyal and engaged business customers."

Weyland's recent acquisition of Minneapolis-based Push Interactive is also expected to provide lead-generation tools for Indonesian SMBs to increase their online sales.

About Indosat Ooredoo

Indosat Ooredoo, an Indonesia Stock Exchange listed company and member of Ooredoo Group, is building Indonesia's leading digital telco, enabling access and greater connectivity for everybody and every business. Focusing on human growth, Indosat Ooredoo aspires to enrich the lives of Indonesians in the digital world and proactively offer solutions to fulfill their needs. Indosat Ooredoo was recognized in the Most Innovative Company of the Year category in the 2015 Asia Pacific Stevie Awards. For more information, visit indosatooredoo.com.

About Weyland Tech

Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.

Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.

About Push Interactive

The e-Commerce platform of Weyland's Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.

About AtozPay™ and AtozGo™

Through Weyland Tech's minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world's fourth most populous country. AtozGo is a fast-growing short-distance food delivery service operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.

Important Cautions Regarding Forward-Looking Statements

This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.

Company Contact

Brent Suen, CEO
Weyland Tech Inc.

Media & Investor Contact

Ronald Both or Grant Stude
CMA
Tel (949) 432-7566

Weyland Tech (OTCQB:WEYL) is a featured fintech stock on

Investorideas.com

More info on WEYL at Investorideas.com Visit:

https://www.investorideas.com/CO/WEYL/

Get News Alerts on Weyland Tech WEYL

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: Weyland Tech, Inc. (OTCQX: WEYL), is a monthly paying featured tech stock on Investorideas.com .More disclaimer info:

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#AI Stock News: VSBLTY GROUPE TECHNOLOGIES (CSE: $VSBY.C) (OTC: $VSBGF) ANNOUNCES CLOSING OF FIRST TRANCHE OF BROKERED PRIVATE PLACEMENT LED BY ECHELON WEALTH PARTNERS; @vsbltyco

#AI Stock News: VSBLTY GROUPE TECHNOLOGIES (CSE: $VSBY.C) (OTC: $VSBGF) ANNOUNCES CLOSING OF FIRST TRANCHE OF BROKERED PRIVATE PLACEMENT LED BY ECHELON WEALTH PARTNERS; @vsbltyco

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Philadelphia, PA - February 27, 2020 (Investorideas.com Newswire) VSBLTY Groupe Technologies Corp. (the "Company" or "VSBLTY") (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) is pleased to announce that it has closed the first tranche of its private placement (the “Offering”) of $1,000 principal amount 10% convertible unsecured debentures (the “Debentures”) for gross proceeds $1,630,380, of which $870,000 was raised from the brokered portion of the Offering (the “Brokered Offering”) and $760,380 was raised from the non-brokered portion of the Offering (the “Non-Brokered Offering”). Echelon Wealth Partners Inc. (the “Agent”) acted as lead agent and sole bookrunner for the Brokered Offering.

Read this news featuring VSBLTY in full at https://www.investorideas.com/CO/VSBY/news/2020/02271Closing-FirstPrivatePlacement.asp

The Debentures will bear interest from February 26, 2020 (the “Closing Date”) at a rate of 10% per annum on an accrual basis, calculated and payable semi-annually, and will mature on February 26, 2022 (the “Maturity Date”).

The principal amount of the Debentures may be converted, in whole or in part, at any time before the Maturity Date, into units of the Company (each, a “Unit”) at $0.30 per Unit, if converted at any time prior to or on the date that is one year from the Closing Date, or otherwise convertible at $0.60 per Unit if converted after one year from the Closing Date but before the Maturity Date.

Each Unit consists of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (each, a “Warrant”). Each Warrant will be exercisable into one Share (each a, “Warrant Share”) at a price of $0.60 per Warrant Share for a period of 24 months from the Closing Date, subject to acceleration. The Company may exercise its warrant acceleration right, if on any ten consecutive trading days, beginning on the date that is four months and one day following the Closing Date, the closing price of the Shares on the CSE is greater than $1.00 per Share. If the Company exercises its warrant acceleration right, the new expiry date of the Warrants will be the 30th day following the notice of such exercise.

The Company paid a cash commission to the Agent of $69,600, a finance fee of 87,000 Shares and issued 232,000 non-transferable broker warrants (the “Broker Warrants”). Each Broker Warrant entitles the Agent to purchase one Share at the price of $0.30 per Share for a period of 24 months from the Closing Date.

The net proceeds from the Offering will be used for acquisitions and general and corporate working capital purposes.

The securities issued in the Brokered Offering and Non-Brokered Offering are subject to a statutory four month and one day hold period, which expires on June 27, 2020.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

On Behalf of the Board of VSBLTY Groupe Technologies Inc.

"Jay Hutton"
CEO & Director

CONTACT:

Investor Relations
MarketSmart Communications Inc.
+1-877-261-4466info@marketsmart.ca

CHF Capital Markets
Cathy Hume, CEO
+1-416-868-1079, x231cathy@chfir.com

Linda Rosanio, 609-472-0877lrosanio@vsblty.net

About VSBLTY (www.vsblty.net)

Headquartered in Philadelphia, VSBLTY (CSE:VSBY) (Frankfurt; 5VS) (VSBGF) ("VSBLTY") is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS- based audience measurement and security software that uses artificial intelligence and machine learning.

FORWARD LOOKING STATEMENT

This news release contains forward-looking statements, including statements regarding the attributes of the securities to be offered and sold by the Company, the closing date of the Offering and the future price of the Shares on the Canadian Securities Exchange, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company's public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. 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. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.

LINDA ROSANIO
VSBLTY, INC
609-472-0877LROSANIO@VSBLTY.NET

VSBLTY Groupe Technologies Corp. (CSE: VSBY) is a featured Tech / AI stock on Investorideas.com

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: VSBLTY is a paid PR, news and social media client on Investorideas.com as of March 1, 2019  https://www.investorideas.com/About/Disclaimer.asp

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Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move; (TSXV: $VLNS.V) (TSX: $VFF.TO) (NASDAQ: $VFF) (CSE: $HOLL.C) (CSE: $AUSA.C)

Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move; (TSXV: $VLNS.V) (TSX: $VFF.TO) (NASDAQ: $VFF) (CSE: $HOLL.C) (CSE: $AUSA.C)

Delta, Kelowna, BC, February 26, 2020 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca  release today’s podcast edition of  cannabis news and stocks to watch plus insight from thought leaders and experts.

Listen to the podcast:

https://www.investorideas.com/Audio/Podcasts/2020/022620-StocksToWatch.mp3

Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/02261VLNS-VFF-HOLL-AUSA.asp

Hear Investor ideas cannabis potcast on iTunes  

Today’s podcast overview/transcript:

Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.

In today’s podcast we look at a few public announcements.

But first, With momentum building for the use of psychedelic substances in the treatment of mental illness, addiction and trauma, Vancouver-based Numinus Wellness Inc. is now one of the first in-market, fully integrated companies in the psychedelic space in North America.

Numinus is an operating company at the forefront of the transformative change in treating the growing prevalence of mental health issues and desire for greater wellness. The company was created from the merger of Salvation Botanicals and Numinus Wellness Inc. and aims to go public via an RTO with Rojo Resources in Q1 2020, subject to exchange approval. Psychedelic therapies have been designated breakthrough therapy status by the FDA due to their promising therapeutic potential.

"While we are excited about the future of psychedelics, these substances will not be approved for recreational use; this is not cannabis," says Numinus CEO and Founder Payton Nyquvest. "Psychedelics are therapeutic, where the application of these substances will only happen in safe, controlled treatment environments."

Through Salvation Labs (a Numinus subsidiary), Numinus has a dealer's licence which allows Numinus to test, possess, buy and sell MDMA, psilocybin, psilocin, DMT and mescaline. Numinus is seeking to expand the licence to include activities such as import/export, testing and R&D. The expanded licence will allow Numinus to support the growing number of studies on the potential benefits of psychedelic therapies through the supply and distribution of these substances.

Numinus is currently operating a stand-alone centre offering patients integrative health solutions to help heal, connect and grow. A purpose-built facility is planned for Vancouver in 2020.

The company's goal is to create and operate a network of wellness centres offering a unique set of treatments that can be specifically developed for each individual. In future and when approved for use by appropriate regulatory bodies, Numinus aims to guide suitable candidates in the use of psychedelics. Numinus would conduct these therapies working in partnership with various health and research organizations.

Numinus is led by Payton Nyquvest and Stacey Wallin, proven entrepreneurs and business leaders who have benefitted from transformative therapies in their own lives. The pair has built a strong network of executives, advisors and partners to take Numinus to the market.

"The societal costs of mental illness, addictions, trauma and unmet human potential are much too high," Nyquvest says. "New approaches, new treatments and new ways of thinking are required — solutions where the world of health care and technology collide — to help individuals and communities heal, discover meaning and make deeper connections."

Valens GroWorks Corp. (TSXV: VLNS) (OTCQX: VLNCF) reported its financial results for its fourth quarter and fiscal year ended November 30, 2019.

Key Financial Highlights of the Fourth Quarter and Fiscal Year 2019

●     Revenue increased to $58.1 million for the fiscal year 2019. For the fourth quarter of 2019 revenue increased to $30.6 million, an 86.0% increase over the third quarter and above the high-end of the guidance range announced on December 16, 2019.

●     Revenue of $1.25 per gram of input in the fourth quarter of 2019, compared to $0.61 per gram of input in the third quarter of 2019.

●     Gross profit increased to $41.4 million, or 71.2% of revenue for the fiscal year 2019. For the fourth quarter of 2019, gross profit increased to $22.6 million, or 73.8% of revenue, compared to $12.8 million, or 77.8% of revenue for the third quarter of 2019.

●     Adjusted EBITDA⁽¹⁾ was $27.4 million for the fiscal year 2019. For the fourth quarter of 2019, adjusted EBITDA was $17.7 million, or 57.7% of revenue, compared to adjusted EBITDA of $9.8 million, or 59.4% of revenue, in the third quarter.

●     Strong balance sheet with $58.7 million in cash and short-term investments and a net working capital position of $88.2 million as at November 30, 2019.

"In Fiscal 2019 we added significant scale to our operations and became the largest white label product development, manufacturing and third-party extraction company in Canada," said Tyler Robson, CEO of Valens. "Our multi-year extraction contracts with industry leading players positioned us as the partner of choice in the industry and drove significant revenue, gross profit and adjusted EBITDA growth. In the second half of 2019, we broadened our offering to include white label product development and we now produce a broad portfolio of safe, consistent and innovative products to help our partners build brands and differentiate themselves in the market. These white label product development initiatives contributed to record revenues in the fourth quarter of 2019 as new and existing customers pushed to roll out Cannabis 2.0 oil-based products into the market. Our margins in the fourth quarter also remained strong and were only slightly lower than our Q3 results.  However, we do expect this type of margin contraction to continue in the coming quarters as we build out our infrastructure and execute on our strategic shift towards becoming a next generation product company which offers increased opportunity and greater EBITDA per input gram but a more conservative margin profile.  This strategic shift is now well underway and our white label contracts now outnumber our extraction contracts, and include top-tier names such as BRNT, Shoppers Drug Mart and Iconic Brewing."

Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF), a vertically integrated cannabis branding company with products in 220 dispensaries throughout California, announced that the Company signed a Letter of Intent on February 20^th, 2020 to acquire Venom Extracts, one of Arizona's premier extract brands and one of the state's largest producers of award-winning medical cannabis distillate and related products.

For the year ended December 31, 2019, Venom Extracts reports having generated CDN$ 16.4 million in revenue and CDN$ 2.48 million in EBIDTA from its product line of Cannabis Concentrates, P.H.O Concentrates and Cartridges. Hollister cautions that revenue and EBITDA figures have not yet been audited and are based on reports prepared by Venom management. Though Hollister believes the figures to be highly reliable, their audit will be part of the due diligence before closing.   

  

The all stock purchase price is anticipated to be CDN$ 20,000,000, with 70% to be paid upfront and 30% to be paid upon milestone achievements. The acquisition is expected to close by March 31, 2020 subject to normal course due diligence.

 "Venom has established itself as a leading extraction operation with a prominent brand in the Arizona marketplace", said Carl Saling, Founder and CEO of Hollister Biosciences Inc.  "We feel this acquisition will present a great deal of opportunity for synergy between Hollister and Venom, providing avenues for both companies into the Arizona, California and additional marketplaces for cannabis products.  Venom Extracts has a highly skilled and experienced management team with a track record for operational excellence.  This transaction is highly accretive and represents a fundamental part of the future growth of both companies."

Village Farms International, Inc. (TSX: VFF) (NASDAQ: VFF) announced its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has begun shipping branded, packaged dried cannabis products to Alberta Gaming, Liquor & Cannabis ("AGLC"), the provincial wholesaler of recreational adult-use cannabis products to private retailers in Alberta and the only authorized online retailer in Alberta (AlbertaCannabis.org). Pure Sunfarms expects its products to be available to retail customers in Alberta beginning next week.

With the launch of Pure Sunfarms' products in Alberta, Pure Sunfarms' products will be available in three of Canada's four most populous provinces (Ontario, British Columbia and Alberta) and accessible to nearly two-thirds of the Canadian recreational cannabis market¹.

Alberta represents approximately 12% of Canada's population, however with a network of more than 400 retail stores (by far the largest retail store network of any Canadian province) generated  22% of total retail trade cannabis sales (dollars) in Canada for the 12-month period ended December 31, 2019², making it the second largest provincial market for cannabis products in Canada.  As a result, Alberta has by far the highest per capita sales of legal recreational cannabis amongst the four most populous Canadian provinces during that same period.

"At Pure Sunfarms, we aim to bring high-quality cannabis at an accessible price to recreational consumers across Canada – that's why we are so excited to expand our footprint into Alberta," said Mandesh Dosanjh, President and CEO, Pure Sunfarms. "With the province's extensive network of licensed retail outlets and strong retail sales, the Alberta cannabis market presents a substantial opportunity for Pure Sunfarms as we continue to share our high-quality BC bud with even more Canadians."

Pure Sunfarms continues to advance discussions with other provincial distributors for potential supply agreements to further expand its presence in the Canadian cannabis market.

Pure Sunfarms was also the top performing brand of dried flower by both kilograms sold and dollar sales with the Ontario Cannabis Store (OCS) for the three-month period ended December 31, 2019, achieving 13% market share (by kilograms sold). For the same period, Pure Sunfarms' Afghan Kush was the top selling dried flower product (by dollar sales) with the OCS and two of the top five selling dried flower products (by dollar sales) with the OCS were Pure Sunfarms products (Afghan Kush and White Rhino).

"Pure Sunfarms' reputation for quality products that customers want at the right price point is resonating well with Canadian consumers," said Michael DeGiglio, CEO, Village Farms.  "2020 promises to be a year of significant growth for retail cannabis sales across Canada, and now, with access to nearly two-thirds of the Canadian population and a thriving brand, Pure Sunfarms is well positioned to participate in this market growth based on its leading market share performance."

Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) announced that Cocoon Technology, LLC is in the final phase of development and completing testing for the platform's deployment and initial launch with Thrive Cannabis Marketplace, Nevada's largest independently owned Cannabis Retailer, in April 2020. THRIVE has ordered 32 CocoonPod™ kiosks for their eight locations in Nevada, starting with the pilot location at 2755 W. Cheyenne Ave. #103, North Las Vegas, Nevada and will roll out to the other locations over the following six months. Cocoon expects to generate $1.4 million in annual recurring net revenue year one with net revenues exceeding $7.1 million over the four-year exclusive term with THRIVE.

"Our customers expect an elevated and streamlined experience when shopping at THRIVE," said Mitch Britten, CEO of THRIVE. "A self-service option provides customers an opportunity to experience the dispensary in an interactive and innovative way while streamlining operations. Customers are offered privacy, product education, recommendations, and loyalty offerings while completing their transaction at their leisure."

"We're excited to launch the Cocoon platform in Las Vegas," said Max Aceituno, SVP, Marketing & Product Development at AUSA. "As the world's most robust Platform-as-a-Service specifically designed for dispensaries, Cocoon enables customers to research products, place orders, and make payments directly through their desired point-of-interaction. THRIVE's high-traffic locations are the perfect environment for the initial launch of this platform and we're happy to collaborate with Mitch and team in crafting this unique feature set."

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