Cann Group Signs Strategic Partnership with Sapphire Medical
Summary
A leading Australian cannabis company, has signed a strategic partnership with UK medical cannabis distributor, Sapphire Medical on October 4, 2023. The agreement will see Cann Group supply Sapphire Medical with high-quality medical cannabis products for distribution to patients in the UK.Cann Group, a leading Australian cannabis company, has entered a strategic partnership with Sapphire Medical, a UK-based medical cannabis distributor. The agreement will enable Cann Group to supply Sapphire Medical with high-quality medical cannabis products for distribution to patients in the UK.
Key Details
The partnership will provide Cann Group with access to the growing UK medical cannabis market, which is estimated to be worth £3 billion by 2028.
Cann Group will supply Sapphire Medical with a range of its flower and oil products.
The partnership will also involve collaboration on research and development of new medical cannabis products.
Significance
The partnership is a significant development for Cann Group, as it represents the company’s first foray into the UK medical cannabis market. The deal is also a major boost for Sapphire Medical, as it will give the company access to a wider range of high-quality medical cannabis products.
Industry Impact
The partnership is expected to have a positive impact on the UK medical cannabis industry. It will increase the availability of high-quality medical cannabis products for patients, and it will also encourage further research and development in the sector.
Sources
Cann Group Signs Strategic Partnership with Sapphire Medical (Cann Group, October 4, 2023)
Cann Group Inks Deal to Supply UK Medical Cannabis Distributor (MJBizDaily, October 4, 2023)
Australian Cannabis Company Cann Group Partners with UK Distributor Sapphire Medical (Cannabis Business News, October 4, 2023)
You might be interested in medical cannabis, as it relates to the strategic partnership between Cann Group and Sapphire Medical. This collaboration aims to supply high-quality medical cannabis products to patients in the UK. Speaking of cannabis in Australia, Cann Group is a leading Australian cannabis company that is venturing into the UK medical cannabis market. Additionally, this partnership could contribute to the UK medical cannabis industry
Curaleaf, the world’s largest cannabis company by revenue, has announced plans to acquire Grassroots Cannabis for $875 million on November 15, 2023. The acquisition will give Curaleaf a strong foothold in the lucrative US cannabis market.”Curaleaf Expands US Cannabis Footprint with Acquisition of Grassroots Cannabis”:
Curaleaf to Acquire Grassroots Cannabis for $875 Million
Summary
Global cannabis company Curaleaf Holdings Inc. is expanding its U.S. presence by acquiring Grassroots Cannabis for $875 million in an all-stock deal.
Key Details
The acquisition will create the largest licensed cannabis cultivator and retailer in the United States.
Curaleaf will gain access to Grassroots’s 20 dispensaries and cultivation and processing facilities across 11 states.
The combined company will have 130 dispensaries, 22 cultivation facilities, and 49 processing facilities in 23 states.
Significance
The acquisition is a major coup for Curaleaf, which is already the world’s largest cannabis company by revenue. The deal will give Curaleaf a strong foothold in the lucrative US cannabis market, which is expected to grow to $40 billion by 2024.
Financial Details
The acquisition will be paid for in a combination of cash and stock, with Curaleaf shareholders receiving a 0.1817 share of Curaleaf common stock for every share of Grassroots common stock.
The deal values Grassroots at approximately $875 million.
Strategic Benefits
The acquisition will create the largest licensed cannabis cultivator and retailer in the United States.
Curaleaf will gain access to Grassroots’s strong brand and established market presence in key states, including Illinois, Michigan, and California.
The deal will also expand Curaleaf’s cultivation and processing capacity, which will help the company meet the growing demand for cannabis products.
Industry Implications
The acquisition is the latest in a series of consolidation deals in the US cannabis industry.
The deal is expected to further strengthen Curaleaf’s position as a leading player in the industry.
It could also lead to further consolidation in the industry, as smaller companies seek to merge with larger players in order to remain competitive.
Reactions to the Acquisition
The acquisition has been met with positive reactions from industry analysts, who believe that it will benefit both Curaleaf and Grassroots.
Analysts believe that the deal will create a stronger and more diversified cannabis company, which will be better positioned to take advantage of the growing US cannabis market.
The acquisition is expected to have a significant impact on the US cannabis industry. It will further consolidate the industry, and it could lead to lower prices for consumers.
Sources
Curaleaf to Acquire Grassroots Cannabis for $875 Million (CNBC, November 15, 2023)
I hope this information is helpful. Please let me know if you have any other questions
Curaleaf to Acquire Grassroots Cannabis for $875 Million (CNBC, November 15, 2023)
Curaleaf to Acquire Grassroots Cannabis in All-Stock Deal (MJBizDaily, November 15, 2023)
Curaleaf to buy Grassroots for $875 million in stock primarily (New Cannabis Ventures, November 15, 2023)
Curaleaf to acquire Grassroots in $875M deal (Worcester Telegram, November 15, 2023)
The acquisition was announced on November 15, 2023, and is expected to close in the first half of 2024.
You might be interested in exploring more about the cannabis industry and its impact. Speaking of cannabis, you might find it informative to read about its history, uses, and legal status on Wikipedia. Additionally, if you are curious about the regulations and policies surrounding cannabis in the United States, this Wikipedia article can provide you with in-depth knowledge.
Germany Approves First Medical Cannabis Cultivation License for No-Profit Organization
The German Federal Institute for Drugs and Medical Devices (BfArM) has granted the first medical cannabis cultivation license to a non-profit organization, the Association of Cannabis Medicine (ACM). This is a significant development for the German medical cannabis market, as it will allow for more diverse and affordable access to medical cannabis products.The German Federal Institute for Drugs and Medical Devices (BfArM) has granted the first medical cannabis cultivation license to a non-profit organization, the Association of Cannabis Medicine (ACM). This is a significant development for the German medical cannabis market, as it will allow for more diverse and affordable access to medical cannabis products.
The ACM is a non-profit organization that was founded in 2016 to promote the use of medical cannabis in Germany. The organization has been working to develop a cultivation license for several years, and the BfArM’s decision is a major victory for the group.
The ACM’s cultivation license will allow the organization to grow medical cannabis for use in its own products, as well as for sale to other pharmacies and clinics. The organization plans to use its profits to fund research into the medical benefits of cannabis and to provide education to healthcare professionals about the use of cannabis as a medicine.
The BfArM’s decision to grant a cultivation license to a non-profit organization is a departure from its previous policy of only granting licenses to for-profit companies. The decision is a sign that the BfArM is open to new approaches to the regulation of the medical cannabis market.
The ACM’s cultivation license is expected to have a significant impact on the German medical cannabis market. The organization’s non-profit status will allow it to offer its products at a lower cost than for-profit companies, and its focus on research and education will help to improve the understanding of the medical benefits of cannabis.
The granting of a cultivation license to the ACM is a positive development for the German medical cannabis market. It is a sign that the BfArM is open to new approaches to the regulation of the market, and it is likely to lead to more diverse and affordable access to medical cannabis products for patients.
The document was published on November 22, 2022. The sources are RNZ / Tess Brunton and RNZ Pacific.
You might be interested in exploring more about medical cannabis and its benefits. Speaking of medical cannabis, you might be interested in delving deeper into the topic by reading the Medical Cannabis article on Wikipedia. Additionally, if you want to learn about the regulations and policies surrounding medical cannabis in Germany, you can refer to the Cannabis in Germany Wikipedia article. These resources will provide you with further insights into the subject.
You might be interested in exploring more about medical cannabis and its benefits. Speaking of medical cannabis, you might be interested in delving deeper into the topic by reading the Medical Cannabis article on Wikipedia. Additionally, if you want to learn about the regulations and policies surrounding medical cannabis in Germany, you can refer to the Cannabis in Germany Wikipedia article. These resources will provide you with further insights into the subject.
Premier Tech, a renowned and innovative company specializing in horticultural technologies, has recently unveiled a captivating white paper that delves into the intriguing world of high-yield cannabis cultivation. This groundbreaking document takes readers on an enlightening journey, providing valuable insights and shedding light on the secrets of successfully cultivating cannabis.
One of the key aspects highlighted in this comprehensive white paper is the crucial role played by the growing medium in maximizing cannabis growth and ultimately achieving high yields. The authors emphasize the significance of selecting the right type of growing medium, as it directly impacts the overall health and productivity of the cannabis plants.
The white paper first introduces readers to the concept of the growing medium, which refers to the material in which plants are grown. It explains that the choice of growing medium plays a critical role in providing the necessary support, nutrients, and aeration to the cannabis plants. Furthermore, the document delves into the various types of growing mediums available, examining their unique characteristics and suitability for cannabis cultivation.
Throughout the white paper, Premier Tech delves deeper into the benefits and drawbacks of different growing mediums. From traditional soil-based mediums to innovative soilless mediums like coco coir and hydroponics, each option is thoroughly explored, allowing readers to make informed decisions based on their specific needs and preferences.
Moreover, the experts at Premier Tech provide invaluable tips and recommendations on optimizing the growing medium for high-yield cannabis cultivation. They highlight the importance of maintaining the ideal pH levels, ensuring proper drainage, and creating a favorable root environment. By following these expert insights, cultivators can create an optimal and thriving environment for their cannabis plants, leading to significantly improved yields.
To further enrich the white paper, Premier Tech goes the extra mile by incorporating real-life case studies and success stories from experienced cannabis cultivators. These anecdotes offer readers a firsthand glimpse into the practical application of the recommended techniques, making the document not only informative but also engaging and relatable.
In addition to the secrets of high-yield cannabis cultivation, the white paper also addresses the environmental impact of different growing mediums. Premier Tech emphasizes the importance of sustainable practices and presents innovative solutions that minimize the ecological footprint of cannabis cultivation. By highlighting these eco-friendly alternatives, the company showcases its commitment to promoting responsible and environmentally-conscious cultivation practices.
In conclusion, Premier Tech takes readers on an informative and captivating journey through the world of high-yield cannabis cultivation in their groundbreaking white paper. By exploring the secrets of optimal growing mediums, the document empowers cultivators with the knowledge and tools they need to maximize their cannabis yields while ensuring sustainable and ecologically-responsible practices. With its comprehensive insights, real-life examples, and expert recommendations, this white paper proves to be an invaluable resource for both novice and experienced cannabis cultivators alike.
In this comprehensive investigation, the global agritech firm Premier Tech delves into a variety of topics crucial to thriving cannabis cultivation, ranging from water quality factors and irrigation methods to the pivotal role of beneficial microorganisms, revealing the intricate secrets behind a successful cannabis harvest.
The substrate for plant growth usually consists of organic materials. In North America, these are typically made up of Canadian Sphagnum Peat Moss, an additive like perlite, and may also feature coir and/or wood fibers. To bring pH levels into the optimal range for plant health, limestone is incorporated; a wetting agent ensures quick and even water uptake and movement through the pot; and a starter nutrient charge is included to assist in early plant development.
A premium growing substrate is engineered to meet specific chemical and physical needs of the cannabis plant. It acts as a repository for water and nutrients, a site for ion exchange, a solid foundation for the plants to anchor, and a medium for root aeration.
Choosing a substrate with the right balance between water retention and aeration is key to fostering a robust root system. Opt for a substrate that aligns with your plant’s specific needs and the conditions of your growing space. The table below offers a snapshot of the main substrate types and their characteristics:
| Type of Growing Media | Water Holding Capacity | Air Porosity | |———————–|————————|————–| | General Purpose | Moderate | Moderate | | High Porosity | Low | High | | Peat-Coir | High | High | | Coco | High | High |
Matching the appropriate substrate with your plants and environment is vital in nurturing a healthy, abundant harvest.
Water Quality and Irrigation Practices
Impurities such as sodium, chloride, fluoride, and boron in water can negatively impact crops. Testing your water source each year to check for alkalinity and nutrient composition is crucial to stave off potential problems related to water quality.
Alkalinity, measured by the concentrations of bicarbonates and carbonates in water, must be understood in order to correctly pair your fertilizers with the water’s characteristics.
If your irrigation’s alkalinity surpasses 250 ppm CaCO3, this can cause the growing medium’s pH to increase beyond the ideal range for plant growth. To curb this pH climb, employ a nutritional plan that favors fertilizers with a high “potential acidity,” or add acid to your irrigation water.
Additionally, watering techniques can significantly alter the health and quality of your crop. Too much or too little water can lead to issues such as stretching, root diseases, algae growth, shore flies, fungus gnats, and irregular plant height. Perfect your irrigation schedule by monitoring the surface color of your medium, weighing the container, performing a finger test, or inspecting the roots directly.
Plant Nutrition
An initial nutrient charge helps plants adapt and establish themselves. Depending on the product and its purpose, the electrical conductivity (E.C.) can vary from 0.5 to 2.5 mmhos/cm and typically sustains the plant for about 7 to 10 days after application. Subsequently, a tailored nutritional regimen should be implemented and sustained for the entire growth cycle.
Beneficial Microorganisms
Biological agents like bacteria or fungi contribute to plant vitality, fend off pathogenic root diseases, and suppress harmful insect populations.
Most growing substrates are inherently deficient in microbial life; thus, adding active biological agents like mycorrhizae and Bacillus can promote expedited and more efficient water and nutrient uptake, steering the plant toward maximum productivity.
Rhizophagus irregularis (formerly Glomus Intraradices), an endomycorrhizal fungus, naturally colonizes many herbaceous plants, including cannabis. This symbiotic organism extends the plant’s root network, enabling better access to nutrients and water, thereby enhancing growth and yield by boosting root development, flowering, plant size, and stress resilience throughout the plant’s life cycle.
The Bacillus species found in PRO-MIX®, naturally occurring gram-positive bacteria, also adheres to plant roots, creating a protective biofilm. It secretes growth-promoting compounds (auxins) that enhance root expansion, furthering nutrient and water absorption. Bacillus pumilus is fully compatible with mycorrhizae, persisting with the roots and mycorrhizae for continued, season-long defense.
Incorporating such microorganisms is economical, provides preemptive root disease defense, reduces reliance on chemical pesticides, adds to the integrated pest management (IPM) toolkit, and can amplify return on investment (ROI).
To summarize, optimal cannabis cultivation involves choosing the right substrate for the plant and environmental conditions. It begins with a water analysis to ensure compatible fertilizer selection that counters the effects of water alkalinity on media pH and addresses plant nutritional requirements. And importantly, integrating active ingredients like mycorrhizae and Bacillus is beneficial for enhancing crop performance and yield.
Premier Tech offers a broad spectrum of products, services, brands, and technologies designed to bolster crop yields, cultivate vibrant gardens, automate manufacturing operations, treat and recycle water, support digital transformations, and supply bio-ingredients to promote the well-being of humans and animals.
Rokshaw announces the exclusive UK manufacture and distribution of medical cannabis products under the Four20 Pharma brand. Rokshaw has expanded its range of medical cannabis to meet market growth and patient demand, offering Four20 Pharma products for private prescription in the UK. Four20 Pharma, originating from Germany, has a portfolio of high-quality strains and terpene profiles that are EU-GMP approved. Rokshaw ensures consistent supply by handling the manufacture and distribution of these products. The Four20 Pharma range is now available for all doctors listed on the specialist register. Jonathan Hodgson, CEO of Rokshaw, says the company is excited to bring the Four20 Pharma range to the UK and believes it is a premium category of treatment. Richard Hodgson, Managing Director of Rokshaw, states that the Four20 Pharma range offers high-quality medical cannabis treatment that is unmatched in the current UK market. For more information, pharmacists and healthcare professionals can visit the medical cannabis page or contact [email protected]. Interested patients can visit Curaleaf Pharmacy. Rokshaw, part of Curaleaf International, is a leading expert in medical cannabis manufacture and distribution in the UK. They have a state-of-the-art UK MHRA approved manufacturing facility and work with partners to widen patient access. Their partner range, combined with their own UK-manufactured products, provides a wide variety of treatment options for specialist doctors.
Rokshaw Announces Exclusive UK Manufacture and Distribution of Medical Cannabis Products Under Four20 Pharma Brand
Rokshaw Laboratories, a leading UK-based manufacturer and distributor of medical cannabis, has today announced the exclusive UK manufacture and distribution of medical cannabis products under the Four20 Pharma brand. This is a significant development for the UK medical cannabis market, as it will give patients access to a wider range of high-quality products.
Four20 Pharma is a German-based company that produces a range of high-quality medical cannabis products. The company’s products are cultivated in accordance with EU-GMP standards and are subject to rigorous testing to ensure their safety and efficacy.
Under the agreement, Rokshaw will manufacture and distribute Four20 Pharma’s products to UK pharmacies and clinics. The company will also provide support to healthcare professionals who are prescribing medical cannabis to their patients.
The launch of the Four20 Pharma range is expected to further expand Rokshaw’s position as a leading provider of medical cannabis in the UK. The company is committed to providing patients with access to high-quality, affordable medical cannabis products.
“We are delighted to announce our exclusive partnership with Four20 Pharma to manufacture and distribute their products in the UK. Four20 Pharma is a highly respected company with a proven track record of producing high-quality medical cannabis products. We are confident that their products will be well-received by patients and healthcare professionals in the UK.”
Managing Director of Rokshaw Richard Hodgson said:
“The launch of the Four20 Pharma range is an important milestone for Rokshaw. We are committed to providing patients with access to the best possible medical cannabis products, and we believe that Four20 Pharma’s products will make a significant contribution to the UK medical cannabis market.”
The Four20 Pharma range is now available to UK patients with a private prescription.
About Rokshaw Laboratories
Rokshaw Laboratories is a leading UK-based manufacturer and distributor of medical cannabis. The company is part of Curaleaf International, the world’s largest cannabis company. Rokshaw is committed to providing patients with access to safe, effective, and affordable medical cannabis products.
About Four20 Pharma
Four20 Pharma is a German-based company that produces a range of high-quality medical cannabis products. The company’s products are cultivated in accordance with EU-GMP standards and are subject to rigorous testing to ensure their safety and efficacy.
This is a positive development for the UK medical cannabis market, as it will give patients access to a wider range of high-quality products. Rokshaw Laboratories is a leading provider of medical cannabis in the UK, and Four20 Pharma is a highly respected company with a proven track record of producing high-quality products. I am confident that this partnership will be beneficial for both companies and for patients in the UK.
Decibel Cannabis Company Inc. (Decibel) (TSXV: DB) (OTCQB: DBCCF) is pleased to announce its expansion into the UK market through a supply agreement with 4C LABS. 4C LABS is a healthcare, technology, and pharmaceutical company focused on virtual prescribing, pharmaceutical distribution, and clinical development of cannabis-based medicinal products for human health in the UK and Channel Islands.
Key Highlights:
– Decibel will supply 4C LABS with Qwest branded, craft-quality Medical Cannabis for distribution to UK medical cannabis patients.
– Decibel will grant strain exclusivity of rare and unique cultivars to be distributed by 4C LABS.
– 3-year supply agreement.
– Initial shipment expected before year end.
– Minimum purchase commitments achieve exclusivity over certain genetics and QWEST brand in the UK.
“We are excited to partner with 4C LABS, a leading organization in the growing medical cannabis industry in the UK, that echoes Decibel’s commitment to quality and patient care. Not only will this unlock a strong partnership and a new market for Decibel’s craft cannabis products, it also sets the stage for further growth into other European markets,” said Adam Coates, Chief Revenue Officer. “Decibel’s success with Qwest flower products in Canada and in Israel’s medical market reinforces the demand for premium cannabis products and the reputation we have built to service that demand.”
“4C LABS is building a patient-focused best-in-class product line for the UK & Channel Islands, the Qwest craft flower line strengthens the top end of the 4C LABS product offerings. Decibel’s innovative craft quality Qwest flower products will fill an empty segment in the UK market and bring a world-class BC Cannabis product to UK patients,” said Greg Dobbin, CEO 4C LABS. “Decibel’s success in Canada, the most competitive cannabis market in the world, is a product of hard work, innovation, and attention to detail, qualities that will resonate with UK patients.”
About Decibel:
Decibel is a consumer-focused cannabis company focused on delivering products that delight customers through a commitment to robust innovation and product quality. Leading brands General Admission, Qwest, and Vox are among its portfolio sold both across Canada and beginning to extend towards new countries to create a global footprint. Decibel operates a processing and manufacturing facility in Calgary, Alberta, and two cultivation facilities in Creston, British Columbia, and Battleford, Saskatchewan.
About 4C LABS:
4C LABS is a patient-focused healthcare, technology, and pharmaceutical company concentrating on virtual prescribing, pharmaceutical distribution, and clinical development in cannabis based medicinal products (“CBMPs”) for human health. 4C LABS is committed to advancing scientific research, as well as enabling the regulation, distribution, and prescribing of CBPMs in the UK and Channel Islands. Its work with leading scientists, specialist physicians, and pharmacists is underpinned with disruptive technologies that are driving an approach to treatment that prioritizes patients and evidence over stigma. 4C LABS works closely with Drug Science, the Cannabis Industry Council (CIC), The Medicines and Healthcare Products Regulatory Agency (MHRA), and the Care Quality Commission (CQC) to catalyze safe, regulated change in the medical landscape. 4C LABS is fully licensed in the UK with MS WDA, Schedule 1 Narcotics, and Production licenses.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as of the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance are not statements of historical fact and may be forward-looking statements.
In this news release, forward-looking statements relate to, among other things, the timing of the initial shipment; expectations with respect to the impact the Agreement will have on the Company’s business; expectations regarding international markets and the Company’s position therein; the Company’s ability to grow its brands into new and innovative territories as well as product formats, variations, and other business plans and expectations.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: satisfaction of all international regulatory requirements, including applicable product testing; risks relating to delays; other regulatory changes and impacts; capital requirements; construction impacts; displacement requirements; global macro-economic events, conditions, and factors; the ability to obtain and maintain licenses to retail
Decibel Cannabis Company Inc. (Decibel) has announced its expansion into the UK market through a supply agreement with 4C LABS, a healthcare, technology, and pharmaceutical company focused on virtual prescribing, pharmaceutical distribution, and clinical development of cannabis-based medicinal products for human health in the UK and Channel Islands.
Key Highlights:
Decibel will supply 4C LABS with Qwest branded, craft-quality Medical Cannabis for distribution to UK medical cannabis patients.
Decibel will grant strain exclusivity of rare and unique cultivars to be distributed by 4C LABS.
The agreement is for 3 years.
The initial shipment is expected before the end of the year.
Minimum purchase commitments achieve exclusivity over certain genetics and QWEST brand in the UK.
Decibel’s success with Qwest flower products in Canada and in Israel’s medical market reinforces the demand for premium cannabis products and the reputation they have built to service that demand.
4C LABS is building a patient-focused best-in-class product line for the UK & Channel Islands, and the Qwest craft flower line strengthens the top end of the 4C LABS product offerings. Decibel’s innovative craft quality Qwest flower products will fill an empty segment in the UK market and bring a world-class BC Cannabis product to UK patients.
The medical cannabis market in the UK is growing, and this partnership between Decibel and 4C LABS could play a significant role in shaping the future of the industry in the region.
Canadian cannabis producer BZAM has reduced annual costs by $20m since merging with The Green Organic Dutchman last year. However, this progress towards positive EBITDA has resulted in a significant reduction in staff and the closure of several facilities. BZAM has worked to dramatically reduce headcount and monetize four redundant facilities since the merger in November 2022. The sale of these facilities, expected to be completed by Q1 2024, will generate over $10m, with $9m being used to reduce debt. The elimination of these facilities is also expected to lead to a substantial reduction in fixed operating expenses and improved margins. Overall, BZAM has reduced fixed operating expenses by approximately $8 annually and lowered selling, general, and administrative expenses to an estimated annual run rate of $28m. In Q3, net revenues increased by 5% to around $20.3m compared to the previous period. BZAM CEO Matt Milich stated that the company is proud to be leading the charge in the consolidation of the Canadian cannabis industry and is well-positioned to succeed in both domestic and international markets.
Canadian cannabis producer BZAM has made significant strides in reducing costs and improving efficiency since merging with The Green Organic Dutchman last year. The company has managed to reduce annual costs by $20m, a move that has propelled it towards positive EBITDA. However, this progress has necessitated a substantial reduction in staff and the closure of several facilities.
Since the merger in November 2022, BZAM has worked diligently to reduce headcount and monetize four redundant facilities. The sale of these facilities, which is expected to be completed by Q1 2024, will generate over $10m, with $9m being used to reduce debt. The elimination of these facilities is also expected to lead to a substantial reduction in fixed operating expenses and improved margins.
Overall, BZAM has managed to reduce fixed operating expenses by approximately $8m annually and has lowered selling, general, and administrative expenses to an estimated annual run rate of $28m. In Q3, net revenues increased by 5% to around $20.3m compared to the previous period.
BZAM CEO Matt Milich stated that the company is proud to be leading the charge in the consolidation of the Canadian cannabis industry and is well-positioned to succeed in both domestic and international markets.
[“Canadian cannabis producer BZAM has reduced annual costs by $20m since merging with The Green Organic Dutchman last year”]
[“BZAM has worked to dramatically reduce headcount and monetize four redundant facilities since the merger in November 2022”]
[“The sale of these facilities, expected to be completed by Q1 2024, will generate over $10m, with $9m being used to reduce debt”]
[“In Q3, net revenues increased by 5% to around $20.3m compared to the previous period”]
[“BZAM CEO Matt Milich stated that the company is proud to be leading the charge in the consolidation of the Canadian cannabis industry and is well-positioned to succeed in both domestic and international markets”]
BZAM Ltd. & 4C Labs Conclude Strategic Distribution Agreement for the UK Market. BZAM Ltd., a leading European cannabis cultivator and producer, has announced a strategic distribution agreement with 4C Labs, a UK-based medical cannabis company. The agreement will see 4C Labs distribute BZAM’s medical cannabis products to patients in the UK.Opens in a new windowbusinessofcannabis.comBZAM Ltd.
Unveiling the Secrets of High-Yield Cannabis Cultivation: Premier Tech Dives into Optimal Growing Mediums. Premier Tech, a global leader in horticultural technologies, has released a new white paper that delves into the secrets of high-yield cannabis cultivation. The white paper explores the importance of using the right growing medium to optimize cannabis growth and yield.Opens in a new windowbulkinside.comPremier Tech
Rokshaw Announces Launch of Four20 Medical Cannabis Products in the UK. Rokshaw Developments Ltd., a UK-based medical cannabis company, has announced the launch of its Four20 range of medical cannabis products. The Four20 range includes a variety of flower and oil products that are available to patients with a prescription.Opens in a new windowrokshaw.co.ukRokshaw Developments Ltd.
Ukraine’s Medical Cannabis Legalisation Delayed by Opponents. The Ukrainian government has delayed the legalization of medical cannabis due to opposition from some lawmakers. The delay is a setback for patients who are hoping to use cannabis to treat a variety of medical conditions.Opens in a new windowwww.globalr2p.orgUkraine
Cantourage Reports ‘Singificant Revenue Growth’ for 2023, Europe’s Last Cannabis ETF Closes, & SEED Innovations Publishes Interim Results. Cantourage, a European cannabis company, has reported “significant revenue growth” for 2023. Meanwhile, Europe’s last cannabis ETF has closed, and SEED Innovations has published its interim results.Opens in a new windowmediorbis.deCantourage
I hope this information is helpful. Please let me know if you have any other questions.
BZAM Ltd. & 4C Labs Conclude Strategic Distribution Agreement for the UK Market. BZAM Ltd., a leading European cannabis cultivator and producerhas announced a strategic distribution agreement with 4C Labs, a UK-based medical cannabis company. The agreement will see 4C Labs distribute BZAM’s medical cannabis products to patients in the UK.
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That’s great news for both companies! This agreement will help to expand BZAM’s reach into the UK market and give 4C Labs access to a high-quality supply of medical cannabis products. I’m sure that this partnership will be beneficial for both companies and for patients in the UK.
Sure, here are the sources for the information I provided:
Unveiling the Secrets of High-Yield Cannabis Cultivation: Premier Tech Dives into Optimal Growing Mediums. Premier Tech: https://www.premiertech.com/what-we-do
Rokshaw Announces Launch of Four20 Medical Cannabis Products in the UK. Business of Cannabis: https://businessofcannabis.com/
Medicinal cannabis startup Cannarma secured undisclosed funding from early-stage venture capital fund Zero to One at a pre-money valuation of Rs 17 crore. Registered with the government’s Startup India program and incubated at Amity University’s Innovation incubator, Cannarma plans to use the funds for customer engagement, expanding into new areas, developing technology, and increasing presence in over 10,000 medical facilities in India. The startup also intends to expand globally in the next fiscal year. Founded in August 2022 by Rohit Chauhan and Keshav Agarwal, Cannarma offers therapeutic cannabis-based products in a market valued at over $146.4 billion. Praveen Kaushik, Director of Zero To One Fund, stated, “As the world embraces alternative medicines, rediscovering ancient knowledge that science has overlooked for centuries, the possibilities for treating ailments using cannabis phytocannabinoids are expanding. The Cannabis plant, one of the five sacred plants in Ayurveda referred to as ‘Vijaya,’ possesses profound therapeutic properties and has historically been used to heal chronic illnesses.” Cannarma aims to provide physicians and patients with medicinal cannabis-based products to address conditions such as the opioid crisis, sleep disorders, anxiety, depression, arthritis pain, chronic pain, neuropathic pain, epilepsy, Parkinson’s disease, and cancer. Founders Rohit Chauhan and Keshav Agarwal expressed their satisfaction with the funding from Zero to One Fund, which will support the company’s growth in India and prepare for international expansion next year. According to Statista, the medical cannabis market in India is projected to generate $13.13 million in revenue this year and achieve a compound annual growth rate of 14.64%, resulting in a market volume of $26 million by 2028. This growth is driven by an increasing demand for alternative treatments among patients.
Delhi’s Cannarma, a cannabis brand for medicinal purposes, recently raised an undisclosed amount in a pre-seed funding round led by Praveen Kaushik, founder of Zero to One Fund, at a pre-money valuation of Rs 17 crore ($2.04 million). Amity Innovation Incubator also participated in the round.
Expansion and Growth Strategy
Cannarma aims to boost customer engagement, expand into new regions, and invest in technology development with this funding round. Additionally, the company plans to establish a strong presence in over 10,000 medical facilities throughout India.
What does Cannarma do?
Established in August 2022, Cannarma is an Ayurvedic research and development organization founded by Rohit Chauhan and Keshav Agarwal. Licensed by the Department of Ayush, Cannarma produces and sells natural Ayurvedic goods, such as CBD oil, hemp seed oil, and medicinal cannabis. The company’s product line effectively treats a range of health conditions, including the Opioid crisis, Cholesterol, Blood Pressure, Diabetes, sleeping disorders, Anxiety, Depression, Arthritis pain, Chronic Pain, Neuropathic Pain, Epilepsy, Parkinson’s disease, and alleviating side effects of Cancer Chemotherapy.
Working with Himachal Pradesh government
The Delhi startup collaborates with Himachal Pradesh authorities to explore hemp cultivation for medicinal, industrial, and scientific purposes. Its objective is to utilize these policies to investigate the therapeutic potential of cannabis and generate state revenue from hemp products.
“New York Cannabis Regulators Approve Settlement of 2 Lawsuits” by Business of Cannabis (November 29, 2023), along with sources:
Background
New York legalized adult-use cannabis in 2021. The state’s Cannabis Control Board (CCB) is responsible for regulating the industry and issuing licenses to businesses that want to sell cannabis.
Lawsuits
In March 2023, a coalition of multistate operators (MSOs) filed a lawsuit against the CCB, alleging that the state’s licensing process was unconstitutional. The MSOs argued that the process favored businesses with ties to the cannabis industry or the government, and that it was therefore unfair and discriminatory.
In August 2023, a group of veterans filed a lawsuit against the CCB, alleging that the state was discriminating against them by denying them licenses because of their military service. The veterans argued that they were entitled to preferential treatment under the state’s Veterans’ Opportunity Act, which gives veterans priority for certain licenses and permits.
Settlements
On November 27, 2023, the CCB approved the settlement of both lawsuits. The settlements require the state to make changes to its licensing process to make it more fair and equitable. The settlements also provide financial compensation to the plaintiffs.
Changes to the licensing process
Under the settlements, the CCB will:
Eliminate the “experience factor” from the licensing process. The experience factor gave preference to businesses that had already been operating in the cannabis industry, such as medical cannabis dispensaries.
Establish a lottery system for selecting licensees. The lottery system will give all applicants an equal chance at obtaining a license.
Create a new “equity bonus” for minority-owned businesses. The equity bonus will give minority-owned businesses additional points in the lottery system.
Financial compensation
The MSOs will receive a total of $20 million in financial compensation from the state. The veterans will receive a total of $5 million in financial compensation.
Implications
The settlements are a significant victory for the cannabis industry in New York. The settlements could help to accelerate the growth of the state’s legal cannabis market. The settlements could also help to ensure that the state’s cannabis industry is more diverse and inclusive.
Sources
“New York Cannabis Regulators Approve Settlement of 2 Lawsuits” by Business of Cannabis (November 29, 2023)
“MSOs File Lawsuit Challenging New York’s Cannabis Licensing Process” by Marijuana Moment (March 2, 2023)
“Veterans File Discrimination Lawsuit Against New York Cannabis Regulators” by Marijuana Moment (August 15, 2023)
