PALM BEACH, Florida, November 20, 2018
PALM BEACH, Florida, November 20, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
As the cannabis industry continues to skyrocket behind recent legalization in Canada as well as enhanced legalization momentum in the United States, the number of the latest and greatest cannabis-based products continue to rise and gaining momentum. Companies are producing unique and innovative products to maximize profit margins with rising revenues as well acquiring or jumping into joint ventures. Cannabis trade shows are becoming a regularity, attracting thousands upon thousands of attendees as industry leaders exhibit their products and market to the masses, aiming to grab a piece of the billion dollar space. One step into the recent annual Marijuana Business Conference just held in Las Vegas and one was able to witness the massive growth of the industry. Active Companies from around the market with current developments this week include: Pyramidion Technology Group, Inc. (OTC:PYTG), MariMed Inc. (OTC:MRMD), Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Charlotte's Web Holdings Inc. (CSE:CWEB) (OTC:CWBHF).
Pyramidion Technology Group, Inc. (OTCPK:PYTG) BREAKING NEWS: Pyramidion Technology Group 100% owner of NxGen Brands ("NxGen") d/b/a: LeafyWell.com ("www.LeafyWell.com") specializing in CBD products, today announced the execution of a binding letter of intent to acquire Renaissance Health Publishing, LLC. ("Renaissance or the "Company") - a Florida-based company specializing in health and wellness supplements.
Under this agreement, NxGen will acquire 100% of the assets of Renaissance Health Publishing, LLC in cash and stock to complete the acquisition. NxGen will also receive a robust customer base, existing staff and outstanding management team, as well as unique marketing materials and methods designed to advertise the current and existing Renaissance Health Publishing, LLC product lines.
Renaissance is a nationally-known research and development company recognized for its physician-developed, natural health supplements designed to provide health and wellness benefits such as anti-aging, testosterone-boosting, memory-supporting, and libido-boosting effects. Renaissance is perhaps best known for formulating and distributing their own exclusive physician-designed health and wellness supplements manufactured with top-quality ingredients. As a socially-responsible company, they do not perform any animal testing of any kind or at any point during their product research and development. Details on the complete Renaissance product line can be found at RenownHealthProducts.com.
CEO of PYTG, Carlos Hurtado, commented "We feel that the product lines of Renaissance Health Publishing are of the best on the market and we attribute their incredible success to the quality of the products themselves which have contributed to their long-standing reputation. They have established a numerous customer base and we feel that with this acquisition, and the synergy that these products may have with our products at www.LeafyWell.com, both our customers and our shareholders will be pleased. It just makes sense - both LeafyWell and Renaissance focus on health and wellness and it is a unique opportunity for us to acquire this company and have the opportunity to increase our customer base - current LeafyWell customers may enjoy the nutraceuticals currently formulated by Renaissance, current Renaissance customers may enjoy the www.LeafyWell.com product line, and new customers may enjoy either or both product lines. In our opinion, it is an all-around step in the right direction and we look forward to the effect that this new acquisition would have on our company." Read this and more news for PYTG at https://www.financialnewsmedia.com/news-pytg
In the industry developments and happenings in the market this week include:
MariMed Inc. (OTCQB:MRMD) and GenCanna Global Inc. recently announced that the companies have entered into an agreement whereby MariMed has invested $30 million in GenCanna, and the companies have created a strategic partnership, including a long-term supply agreement. The partnership expands MariMed's robust product development capabilities and strengthens GenCanna's position as a global leader in the Hemp CBD industry. MariMed, a multi-state operator that develops and manages cannabis facilities and branded product lines, intends to create a product and branding business unit focused on the development and distribution of Hemp CBD-derived products. GenCanna is deploying the proceeds of the investment to dramatically expand its production capacity, and extend its position as the global leader in high-quality hemp CBD production, with fully legal sales throughout the U.S. and internationally. In recent years, GenCanna has assembled top-quality genetics for cultivating hemp, and has established production processes that meet or exceed Good Manufacturing Practices (GMP) standards, as well as the highest FDA standards.
Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT.TO) recently announced its financial and operating results for the 3-month period ended September 30, 2018. All amounts are in Canadian dollars."We are progressing through the cannabis licensing process with Health Canada, having submitted our Evidence Package. We are at the final stages of this process, and our Sherbrooke facility will begin operations shortly following the receipt of our Producers Licence pursuant to Cannabis Regulation (CR)," stated Jim Hamilton, President and Chief Executive Officer. "Our Phase II capacity expansion is moving ahead on time and is expected to be completed by March 2019, significantly raising our production capability to 200,000 kg of dried cannabis using advanced extraction techniques." "In the nutraceutical business, we continued to deliver revenue growth during the second quarter, while advancing toward our goal of commercializing our B2B cannabis extraction operations. We remain in a solid financial position with over $20 million in cash and, with supply agreements booked and projected opportunities, our plan remains for our cannabis operations to achieve positive EBITDA within our first year of production," concluded Mr. Hamilton.
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED.TO) recently announced it has entered into a multi-year agreement with The Brink's Company (BCO) through its Brink's Canada subsidiary to provide secure logistics and cash management services for Canopy Growth's domestic and international cannabis operations. The Brink's Company is the global leader in total cash management, secure route-based logistics and payment solutions and its global infrastructure will allow Canopy Growth to scale efficiently as its logistics needs become increasingly complex. "Brinks' reputation as a trusted industry leader has been earned by providing reliable secure transport services for over 90 years in Canada ," said Mark Zekulin , President and Co-CEO, Canopy Growth. "As a cannabis producer with growing national and international needs, we are proud to enter into this agreement and look forward to working with Brink's to consistently deliver a variety of high-quality cannabis products to our retail locations and affiliates across the country."
Charlotte's Web Holdings Inc. (CSE:CWEB.CN) (OTCQX:CWBHF) recently announced it has surpassed 3000 retail locations across the United States. At the end of 2017, Charlotte's Web products were sold in approximately 2,000 locations. The Company disclosed today that it surpassed its 2018 year-end goal of 3,000 locations during the 3rd quarter. "Firstly, I would like to commend our incredible and committed staff who worked tirelessly to achieve this milestone," stated Charlotte's Web CEO Hess Moallem. "I would also like to thank our dedicated retail partners for their continued support of our mission and for valuing the trust that is closely associated with our brand name." With CBD gaining mainstream market momentum, Charlotte's Web, the industry pioneer and category leader in hemp-based CBD, has expanded its suite of product offerings across a wider variety of retailers, from small specialty health food stores to now including regional pharmacy and grocery chains. The Company recently added more than 40 Bartell drug stores in the North West.
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