Cann-IS Capital Corp. Announces Qualifying Transaction with Leading European CBD/Hemp Company
TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) — Cann-Is Capital Corp. (the “Corporation”) (TSX-V: NIS.P) is pleased to announce that it has entered into a binding engagement agreement with CWE European Holdings Ltd., a company incorporated under the laws of Canada (“CWE”), pursuant to which the Corporation will acquire all of the issued and outstanding shares in the capital of CWE (the “Proposed Transaction”).
When completed, the Proposed Transaction will constitute the Corporation’s qualifying transaction pursuant to the policies of the TSX Venture Exchange (the “Exchange”) and is subject to compliance with all necessary regulatory and other approvals and certain other terms and conditions. A comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the Exchange.
CWE European Holdings Inc. (“CWE”), is a Canadian holding company with wholly-owned subsidiaries that operate a seed to sale HEMP business in Germany in compliance with applicable laws.
CWE is seeking to become one of the largest HEMP offline and online retailers, building a controlled access to Central European customers by opening retail locations in Germany. Currently CWE owns and operates nine stores in the State of Bavaria in Germany through three German subsidiaries.
The stores are operated under the brand name “HANF” in Germany.
CWE is selling an organic, health conscious lifestyle based on Hemp products, some containing CBD.
CWE has developed a private label Hemp derived CBD brand which makes up 70% of offline sales.
CWE sales for the year ended December 31, 2019 were CAD$2.5M with an EBITDA of CAD$260K (Audited German GAAP).
A comprehensive news release with further particulars relating to the Proposed Transaction, financial particulars, transaction structure, descriptions of the proposed management and directors of the resulting issuer, terms of any concurrent financing and sponsorship, if applicable will follow in accordance with the policies of the Exchange.
Completion of the Proposed Transaction is subject to a number of conditions including, but not limited to, Exchange acceptance and, if applicable pursuant to Exchange requirements, shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular, filing statement or prospectus in lieu thereof to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, (as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including statements about the Corporation’s future plans and intentions and completion of the Proposed Transaction. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Risks and uncertainties include, but are not limited to, the risk that the Proposed Transaction may not constitute the Corporation’s qualifying transaction pursuant to the policies of the Exchange and the risk that the Corporation may not comply with all necessary regulatory and other approvals and certain other terms and conditions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
About Cann-Is Capital Corp.
The Corporation is a Capital Pool Company (“CPC”). It has not commenced commercial operations and has no assets other than a minimum amount of cash. Except as specifically contemplated in the CPC Policy, as defined in the final prospectus, until Completion of the Qualifying Transaction, the Corporation will not carry on any business other than the identification and evaluation of assets or businesses with a view to completing a proposed Qualifying Transaction.
TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) — Cann-Is Capital Corp. (the “Corporation”) (TSX-V: NIS.P) is pleased to announce that it has entered into a…
Golden Grail Technology Subsidiary Accurate Venture Signs Distribution Agreement with Southwest Cancer Center
Highly Respected Cancer Center to Dispense bioRenovate® CBD Product
DEERFIELD BEACH, FL / ACCESSWIRE / March 29, 2017 / Golden Grail Technology Corp. (OTC PINK: GOGY) (“Golden Grail” or the “Company”), a technology and software solutions provider to companies with unique value propositions operating in mass market consumer sectors, is extremely pleased to announce the execution of a Medical Practice Distribution Agreement between its subsidiary Accurate Venture and Southwest Cancer Center at Florida Hospital in Orlando, Florida. The five-doctor practice is one of the most prestigious in the area and services thousands of patients.
In February 2016, Golden Grail Technology acquired Accurate Venture, which develops and markets specific consumer and pharmaceutical grade Hemp Cannabidiol (CBD) supplement products. Accurate has a large marketing database of customers and offers monthly subscriptions for most of its product line.
The Agreement reduces the cost of Accurate Venture’s bioRenovate 1500mg pharmaceutical grade CBD product for all Oncology patients under Southwest Cancer Centers’ care.
Dr. Sarah Katta, commented, “We are honored to have bioRenovate available here at Southwest Cancer Center. bioRenovate is the only true pharmaceutical grade cannabis product that I trust enough to give it to my patients. They are rigorously tested for quality and maintain the highest standards. This will improve the quality of life and help may patients who have very little hope otherwise. I’m pleased to offer it to our patient population.”
Chief Executive Officer, Bill Fisher commented, “Southwest Cancer Center is one of the most respected practices in the region and it’s more than an honor to have the practice on-board. This is the first in a long line of practices across the country that we are working diligently to get distribution deals signed with and add quality of life to patients across the entire United States.”
About Southwest Cancer Center
Southwest Cancer Center was established by Dr. Thomas Katta in 1984 and has been serving Orlando for 33 years. They specialize in Hematology/Oncology and are one of the highest rated practices in the region. There are five doctors and two locations in Orlando and they serve thousands of patients, 922 Lucerne Terrace Orlando FL 32806 and 7436 Docs Grove Circle Orlando FL 32819.
About bioRenovate 1500mg 1oz Sublingual Drops
bioRenovate 1500® is a 1500mg CBD sublingual tincture produced according to pharmaceutical grade standards and testing. It is available primarily through doctor’s offices and medical practices with on-line refills can be ordered according to the recommendations of the doctor. Cannabidiol from hemp is Federally legal to distribute across all 50 states, as it is not extracted from the plant that is legally classified as marijuana. bioRenovate products consist solely of parts of the cannabis plant excluded from the CSA definition of marijuana, and therefore are not included in the new drug code (7350) or in the drug code for marijuana (7360).
They are 3rd party verified by the most respected labs in the country and manufactured according to pharmaceutical standards and testing.
About Golden Grail Technology Corp.
Golden Grail Technology Corp. (GOGY) is a technology and software solutions provider to companies with unique value propositions operating in mass market consumer sectors such as jewelry, health and personal care, beauty, electronics, pet and animal supplies, sports and games. Golden Grail’s mission is to utilize their network of industry experts, who specialize in targeting areas of business that can be accelerated with technology, in order to give small companies an opportunity to compete with industry giants.
[Doctors recommending bioRenovate products, do so on their own. Accurate Venture and Golden Grail Technology do not make claims of any specific benefits. The Food and Drug Administration has not evaluated representations regarding the efficacy and safety of bioRenovate products. The FDA only evaluates foods and drugs, not supplements like these products. These products are not intended to diagnose, prevent, treat, or cure any disease.]
Except for the historical and present factual information contained in this press release, the matters discussed in this press release, including statements identified by words such as “will,” “expected,” “plans,” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in the forward-looking statements, including the factors described in filings with OTC Markets, including but not limited to discussion under the caption “Risk Factors.” Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s judgment solely as of the date hereof.
SOURCE: Golden Grail Technology Corp.
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* This weekend’s Barron’s cover offers a low-risk strategy for investors optimistic about an ecomomic recovery. * Other featured articles discuss what a COVID-19 vaccine would mean for the stock market and how it could shake up the pharmaceutical industry. * Also, the prospects for semiconductor stocks, a leading retailer, a financial services giant and more.”A Low-Risk Strategy for Those Optimistic About a Recovery” by Daren Fonda suggests that small companies typically outperform over the long term, even more so at the beginning of an economic rebound. With a coronavirus vaccine on the horizon, Barron’s believes Acme United Corporation (NYSE: ACU) is among the small cap stocks worth a look.Max A. Cherney’s “Intel Can Shine Again” looks at how repeated manufacturing delays have dented the reputation of chip giant Intel Corporation (NASDAQ: INTC). In addition, Apple now has ditched Intel’s products. Discover why Barron’s thinks the stock is down but not out.In “A Covid Vaccine Is Coming. Here’s What It Means for the Stock Market,” Andrew Bary makes the case that after years of disappointment, a rotation into value-oriented investments from growth could gain traction. See why the likes of Barrick Gold Corp (NYSE: GOLD) could be poised to climb as well.Semiconductor demand is surging, even as mergers reshape the industry. So says “5 Semiconductor Stocks With Stellar Prospects” by Leslie P. Norton. Find out how to play the next growth spurt and whether NVIDIA Corporation (NASDAQ: NVDA) and Teradyne, Inc. (NASDAQ: TER) are among the bargains now.In Bill Alpert’s “Covid Vaccine Could Be a Drug Industry Game Changer,” see how promising vaccine news lifted hopes that mRNA technology would be validated and speed other products to market. Find out what could this mean for AstraZeneca plc (NYSE: AZN), GlaxoSmithKline plc (NYSE: GSK) and others.”Target Is Booming During the Pandemic. Why the Stock Still Looks Undervalued” by Teresa Rivas discusses why, even though Target Corporation (NASDAQ: TGT) is classified as a big-box retailer, these days it looks more like a department store than any department store. Plus, what to expect from this week’s earnings report.See also: Benzinga’s Bulls And Bears Of The Week: Apple, Disney, Tesla And MoreCheck out how Micron Technology, Inc. (NASDAQ: MU), the biggest pure play bet on memory chips, also could be a play on multiple hot themes, including 5G, electric vehicles, data center growth and even the end of the pandemic. This, according to Eric J. Savitz’s “It’s Time to Put Aside the Bad Memories of Micron’s Stock.”In “Pandemic or Not, Visa Remains a Growth Stock Stalking Its Biggest Rival, Cash,” Jack Hough focuses on how, despite reduced spending during the pandemic, Visa Inc (NYSE: V) has seen greater adoption as consumers eschew cash. That should pay dividends after the crisis is over, according to this article.Reshma Kapadia’s “Alibaba Joins the Ranks of Internet Giants Scorched by Regulators” says China has joined the United States and Europe in scrutinizing the big internet platforms whose shares have soared amid the pandemic. It talks about the case of Alibaba Group Holding Ltd (NYSE: BABA) and the blow that befell its fintech affiliate, Ant Group.Also in this week’s Barron’s: * What is next for the Consumer Financial Protection Bureau * Why the U.S. election bodes well for tech * Why to expect more ESG activism and SPACs in 2021 * Whether investors can predict special dividends * How to play the value stock boomlet while it lasts * Whether the stock market needs tech to hit new records * ETFs poised to benefit from a retail rebound * What the end of Moore’s law means for investors and the economy * Why the $9 billion U.S. Postal Service loss matters * What to expect from the coming retail earnings reportsAt the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Click here for options trades from Benzinga * Last Week’s Notable Insider Buys: Kraft, IBM, Vertex And More * Benzinga’s Bulls And Bears Of The Week: Apple, Disney, Tesla And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Mitsubishi Motors said in a statement there were no discussions to review their capital relationship and that the automaker “will continue to collaborate within the alliance.” A representative for Renault declined to comment.When Ghosn rescued Mitsubishi Motors in 2016 with a $2.3 billion investment and invitation into the alliance, it didn’t take long for him to boast about the “new force in the global auto industry.” He had even bigger plans — to create a holding company for a carmaking empire capable of dethroning Toyota Motor Corp. and Volkswagen AG as the world’s biggest producer of automobiles.All that changed on Nov. 19, 2018, when Ghosn and former Nissan director Greg Kelly were arrested in Tokyo and accused of underreporting the former chairman’s compensation. Both have denied wrongdoing. Additional charges were filed later accusing Ghosn of using company assets improperly, which he has denied.Chaos gripped the alliance. Ghosn loyalists were ousted while Nissan and Renault executives jockeyed for control to fill the power vacuum. There was deep resentment at the French automaker, which was kept out of the loop as Nissan insiders spent months working with Japanese prosecutors to orchestrate the powerful chairman’s ouster.Ghosn was released, re-arrested and freed on bail again in 2019. He escaped trial by making a daring undercover escape in December of that year on a private jet and made his way Lebanon. The one-two punch of a drop in global auto demand and the pandemic has wiped more than $44 billion from the combined market value of the three alliance partners.“The best thing is to end the alliance,” said Tokyo Tokai Research analyst Seiji Sugiura, a frequent critic of the partnership who has written extensively about the companies in Japanese periodicals. “They should either become one, or split.”One unsettled variable for Nissan is finding a buyer, according to the people familiar with its deliberations. The automaker could sell to one of the group’s companies such as Mitsubishi Corp., which already holds 20% of Mitsubishi Motors. Finding another purchaser or turning to the open market also are options. Nothing has been decided, the people said.A sale would only bring in a relatively modest sum of cash. The holding was worth about $950 million at the close of trading last week, less than half what Nissan paid four years ago.Mitsubishi Motors has forecast a $1.3 billion operating loss for the fiscal year ending in March and was forced earlier this year to shut down production of the Pajero SUV and other larger vehicle lines, leaving it to focus on smaller cars and markets in Southeast Asia.Nissan’s results, released last week, suggest restructuring efforts are gaining some traction, although the the automaker is still projecting a $3.2 billion operating loss for the fiscal year. It has been on a debt-issuing spree, raising a total of almost 900 billion yen in funding.While a share sale would fundamentally reshape Nissan’s capital ties with one of its key partners, the three automakers will probably make the case that the alliance remains intact operationally, the people said. They will emphasize the partnership can work without the shareholding and that the sale may also free them to collaborate with other partners, one of the people said.Rescue MissionThe alliance began two decades ago when Renault swooped in to save Nissan with a cash injection, saving the bigger automaker from bankruptcy. The French automaker sent in Ghosn, who turned around Nissan and eventually took over leadership of both companies. While they benefited from being able to pool their purchasing power, that wasn’t matched by meaningful joint product development.By the time Ghosn was arrested, there was deep resentment with Nissan that it had little sway over the partnership, even though it was sending billions of dollars in dividends annually to Renault, which exercised more control over the bigger Japanese company through its 43% stake. Nissan owns 15% of Renault and has no voting rights.To move past the turmoil since Ghosn’s arrest, the alliance unveiled a new operating structure in May, vowing deeper cooperation. The proportion of autos manufactured on common platforms will double to 80% by 2024, executives promised. The new strategy dubbed “leader-follower” is designed to force teams to work together by designating one company to head up specific technologies or regions and ultimately take responsibility for success or failure.“Mitsubishi Motors is working on their ‘Small but Beautiful’ business transformation plan which they announced in July,” said Nissan spokeswoman Wadgaonkar. “It is essential for each Alliance partner to focus on its core competences and maximize the use of each other’s asset to accomplish its midterm plan.”The plan would make the alliance so tightly intertwined that “no step backward” would be possible, Renault Chairman Jean-Dominique Senard has said. The 67-year-old Frenchman also is chairman of the alliance operating board that oversees the union of carmakers whose still relatively new chief executives haven’t had much time or opportunity to work together.Makoto Uchida took the top job at Nissan less than a year ago, while Luca de Meo started in July as Renault’s second CEO since Ghosn’s arrest. Osamu Masuko, the Mitsubishi Motors chairman who forged the deal with Ghosn and was the automaker’s main link to Nissan, died in August.Bigger ForcesIt remains to be seen whether the leader-follower plan — which is focused on costs — will deliver the meaningful innovations necessary to deal with the larger forces sweeping through the global auto industry. Regulators are stepping up pressure to embrace electric vehicles, while autonomous driving technology has the potential to reshape the concept of auto ownership.Electric vehicles are a prime example of an area in which the alliance has missed opportunities. Although Renault and Nissan were ahead of many rivals when they rolled out their respective EV models, the Zoe and the Leaf, they are still based on different platforms years after their debut. The alliance partners’ next-generation EVs will share a jointly developed base.“The alliance is clearly unfulfilled potential,” said Societe Generale analyst Stephen Reitman.The companies have thrown out Ghosn’s method of measuring the alliance’s success through synergies, a metric that was targeted to reach more than 10 billion euros in 2022 but based on numbers Senard has said he never understood. Renault and Nissan also have pledged to turn the page on Ghosn’s unrelenting pursuit of growth and sales volumes.Yet in the midst of the pandemic, Renault’s de Meo also has warned that Renault and Nissan need to fix their own internal problems to make sure the house doesn’t go up in flames.“Each company is now in trouble,” Ghosn said in an August interview. “I don’t think they know where they are going. There’s no more vision. In my opinion, the best people have left, or will leave.”Renault’s record first-half loss and exposure to a weakening European market complicates its turnaround efforts. While de Meo has held up rival PSA Group’s near-death experience as proof that recovery is possible, Covid-19 is rendering pre-pandemic problems such as factory overcapacity even more difficult to address.Taken together with other developments — including the French automaker’s merger flirtation with Fiat Chrysler Automobiles NV last year — it’s clear Ghosn’s ouster left the alliance on shakier ground. Each automaker has turned inward, leading some to question whether the partnership can survive.“For good or for worse, Ghosn was holding it together,” said Tatsuo Yoshida, a Bloomberg Intelligence analyst.(Updates shares in third paragraph, adds Mitsubishi Motors comment.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Highly Respected Cancer Center to Dispense bioRenovate® CBD Product DEERFIELD BEACH, FL / ACCESSWIRE / March 29, 2017 / Golden Grail Technology Corp. (OTC PINK: GOGY ) ("Golden Grail" or the …