#Cannabis Industry Continues Global Expansion from #Israel to the EU;
(CSE: $IPOT.C) (TSXV: $KHRN.V) (TSX: $AVCN.TO) (TSXV: $PCLO.V)
Point
Roberts WA, Delta, BC – October 30, 2019 - Investorideas.com, a leading investor news resource
covering cannabis and hemp stocks releases a sector snapshot reporting on the
continued international expansion of the cannabis industry and how it’s leading
to a global cannabis infrastructure.
A
recent article reporting on the
growth of the global cannabis industry notes, “Fully 185 countries are
signatories to the United Nations’ Single Convention on Narcotic Drugs of 1961,
which prohibits cannabis as a drug that can be abused and cause ill effects,
without bringing a substantial therapeutic advantage. Each signatory’s laws
must reflect the Convention; that is the case for the US’ Controlled Substances
Act of 1971. Countries that have legalized cannabis are flouting the
convention, and some, such as Canada, admit that openly.”
“Thanks to changing public perceptions,
moves such as Canada’s, ongoing research on health benefits and risks, and the
urging of the World Health Organization—in 2019 it came out in favor of less
restrictive control of cannabis and of removing prohibitions for pure CBD and
CBD preparations containing no more than .2% THC—the United Nations has said it
will revisit cannabis under the Single Convention. It should be noted, however,
that amending the convention is difficult with so many members involved.”
“Medical
use of cannabis is and will be accepted around the world a lot more quickly
than recreational use,” says Mario
Torres
of Brazeau Seller Law (Ottawa, Ontario,
Canada). “People are not enthused about prohibiting medical care. They don’t
want to disallow access to the only thing that may stop epileptic seizures in
children or is part of a patient’s treatment plan.” Medical use is becoming
more acceptable even in very conservative countries like South Korea and
Thailand, which have legalized cannabis for medical purposes.
Recent
news headlines look to Israel
saying,” Israel is at the forefront of cannabis tech. The country, which
produces more pharmaceutical cannabis than just about anywhere else, is poised
to become a leading exporter.”
Recently
listed on the CSE, Isracann Biosciences Inc. (CSE:
IPOT)
is an Israeli-based cannabis company focused on becoming a premier cannabis
producer offering low-cost production targeting undersupplied, major European
marketplaces. The Company (formerly Atlas Blockchain Group Inc.), recently
provided an operative overview and update regarding facility development
activities in Israel.
Concurrent
to and as part of the Company’s recent listing on the Canadian Securities
Exchange it had satisfied the escrow release conditions for the net proceeds of
its highly successful CAD$10.1 million financing efforts which bolstered an
already healthy cash position.
This
positions the company to immediately accelerate its planned Phase One Facility
Design and Construction Services Program which consists of finalization of
greenhouse facility design for cannabis cultivation and production in
accordance with an existing technical specifications strategy; to rapidly
advance greenhouse and related facility construction per the design; ensure
adequate controls are in place against any diversion, theft and loss of
cannabis products per regulatory standards; and ensure compliance with other
protective security, health, and safety requirements in accordance with Israeli
regulations.
To
date, Isracann has entered into agreements for the development of medical
cannabis cultivation projects with regional stakeholders holding preliminary
breeding and cultivation licenses issued by the Israeli Ministry of Health. The
regional stakeholder is required to renew these licenses each year and further
bears the cost of electricity, property and related land taxes and are bound to
working with Isracann to obtain the required licenses and to participate in the
construction of the greenhouses.
Isracann
‘s CEO, Darryl Jones notes, “We are very pleased to have achieved our very
important initial milestone targets with the CSE listing of our ticker symbol
“IPOT” and to confirm our accelerated investment plans in Israel are fully
underway. We have lined up several key organizations and personnel and look
forward to announcing a number of these key commercial agreements in the days
and weeks ahead. We thank all our supporters for their belief in us, and in our
belief that the Israeli agricultural sector will provide a huge leading role in
positioning the Isracann brand as market leaders in the massive and underserved
European cannabis marketplace.”
In
related news, the Company welcomes the recent appointment of Irit Arbel, Ph.D.
to its Board of Directors. Dr. Arbel brings significant senior
multidisciplinary biopharma and governance experience to Isracann’s board. She
serves as CEO, Co-Founder and Director of Neurocords Ltd., a company focused on
developing new treatments for peripheral and spinal cord regeneration, and
previously served as Director and President of Brainstorm Cell Therapeutics,
and as Executive Vice President of Research and Development at Savicell Diagnostic,
a biotechnology company. Dr. Arbel previously served as Chairperson of Real
Aesthetics, a company specializing in cellulite ultrasound treatment, and BRH
Medical, a developer of medical devices for wound healing. She was also
Director of M&A at RFB Investment House, a private investment firm focusing
on early-stage technology-related companies. Previously, Dr. Arbel was
President and Chief Executive Officer of Pluristem Life Systems, a
biotechnology company, and prior to that as Israeli Sales Manager of Merck,
Sharp & Dohme, a pharmaceutical company. Dr. Arbel earned her Ph.D. in 1997
in Neurobiology, after performing research in the area of MS. Dr. Arbel also
holds a Chemical Engineering degree from the Technion, Israel’s Institute of
Technology.
Avicanna Inc.(TSX:
AVCN)
(OTCQX:
AVCNF),
a biopharmaceutical company focused on the development, manufacturing and
commercialization of cannabinoid-based products, recently
announced
that Santa Marta Golden Hemp S.A.S., its majority owned subsidiary, has completed
commercial exports of its Aureus™ brand of CBD-based products to South Africa
and the United Kingdom.
The
Aureus brand of products include an organic and sustainable line of
plant-derived active pharmaceutical ingredients ("APIs") and bulk CBD
formulations developed by Avicanna in collaboration with SMGH and Sativa Nativa
S.A.S. ("Sativa Nativa"), which is also a majority owned subsidiary
of Avicanna. These initial sales included the export of CBD isolate and 4% bulk
formulation for CBD oil sublingual sprays. Each of the above exports has been
completed in accordance with all applicable laws in the Jurisdictions.
Aras
Azadian, Avicanna's Chief Executive Officer, stated "We are excited to
bring the Aureus brand of cannabinoid APIs to our international customers. We
believe these initial sales further validate the brand's opportunities in these
two countries, as well as the potential for us to actively market our APIs
across the globe to manufacturers of CBD products. We believe the Aureus brand
of API products will become a leader in organic and sustainable cannabinoid raw
materials and the gold standard with respect to global quality controls, which
we believe are necessary for the evolution of a worldwide cannabinoid
industry.”
Avicanna
is also looking into the Latin American market having announced the retail launch
of its Pura Earth™ derma-cosmetics line of CBD products, which are now
available at approximately 59 high-end retail locations throughout Colombia,
including Blind Prestige beauty shops and Cromantic professional beauty
markets.
Khiron Life
Sciences Corp. (TSXV:
KHRN)
(OTC:
KHRNF),
a vertically integrated cannabis leader with core operations in Latin America, recently
announced
their entrance into the EU market having completed the EU cosmetic regulatory
process for seven Kuida products, and received a "no objection"
letter from TSXV with respect to distribution of these products in the UK.
Tejinder
Virk, President, Khiron Europe, commented, "The fulfillment of EU cosmetic
regulatory requirements allows the Company to bring our proven product line
into the sophisticated and growing European skincare market, where we expect to
rapidly build and grow Kuida's market share. We will initially focus on import
and marketing in UK, with our first sales expected in Q1 2020, before expanding
to Spain, Germany and the broader European market, subject to the specific
requirements of individual member states and TSXV approval."
Kuida®,
the first consumer brand of Khiron's wellness business unit, brings the
benefits of cannabidiol (CBD) to a comprehensive portfolio of skin and body
care products for women. Kuida was launched in Colombia in October 2018 through
retail, wholesale and online channels and is now available nationwide and
through e-commerce channels. As the Company expands Kuida® distribution in
Europe, the brand will be a featured exhibitor at Cosmoprof Worldwide Bologna
2020, which attracted over 265,000 visitors in 2019 and is the largest such
event to learn more about market leading products and to place orders.
The
company also participated
in
the Open Parliament held by Senate of Mexico on the theme of "Towards
Cannabis Regulation," which took place through August 2019 and September
2019. As a Latin American cannabis leader with a strong presence in Mexico,
Khiron joined both open forum sessions and a committee of experts to engage in
dialogue and provide input on the building blocks of the country's new
regulatory framework.
PharmaCielo Ltd. (TSXV:PCLO) (OTC:
PHCEF),
whose anticipated acquisition of Australian Securities Exchange
("ASX") listed Creso Pharma will establish a global medicinal
cannabis company positioned to rapidly develop new markets and grow sales in
the expanded footprint served by the combined company, recently announced key developments
in respect of its acquisition originally announced on June 6, 2019. Creso
Pharma has informed the Company that it has received approval from the Supreme
Court of Western Australia to convene meetings of its shareholders and listed
option holders, and if thought fit, to approve the Schemes of Arrangement
whereby PharmaCielo would acquire all of the issued and outstanding shares and
listed options of Creso Pharma. The Meetings will be held on November 11, 2019,
beginning at 10:00AM (Perth time).
The
Board of Directors of Creso Pharma continue to unanimously recommend that Creso
Pharma Shareholders and the Creso Pharma Optionholders vote in favour of the
proposed Schemes of Arrangement, in the absence of a superior proposal for
Creso Pharma.
David
Attard, CEO of PharmaCielo commented, "PharmaCielo's acquisition of Creso
Pharma, creates a combined company that has operational excellence across the
value chain. The quality and scale of PharmaCielo's cultivation and extraction
compliments Creso Pharma's product development and extensive developed global
sales channels. With the Creso Pharma acquisition and our recently announced agreement to export
CBD into the United States , 2020 is going to be an exciting year for
PharmaCielo shareholders."
PharmaCielo
expects that the combined company will be well-positioned to drive significant
value for both existing PharmaCielo and Creso Pharma shareholders.
PharmaCielo
has received conditional approval from the TSX Venture Exchange for the
issuance of common shares of PharmaCielo to Creso Pharma Shareholders and Creso
Pharma Optionholders in order to effect the Schemes of Arrangement. The
effective date of the Schemes of Arrangement is expected to be November 13,
2019; and the closing date of the acquisition is expected to be November 22,
2019.
With
the growing international acceptance of the cannabis industry, companies with
strongly established infrastructure in key global trade areas will become more
of an essential asset as the industry moves further towards global standards
and sales.
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