Each week, DCN will curate a rundown of startup, tech, and innovation news in the cannabis industry for its new series, DCN Micro News.
March 4th, 2019
Harvest One Acquires Delivra to Strengthen its Medical and Wellness Division
Harvest One Cannabis Inc. (TSXV: HVT, OTCQX: HRVOF – “Harvest One”) and Delivra Corp. (TSXV: DVA – “Delivra”) are pleased to announce today that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which Harvest One will acquire all of the issued and outstanding common shares of Delivra (the “Delivra Shares”) (the “Transaction”). Under the terms of the Arrangement Agreement, shareholders of Delivra (“Delivra Shareholders”) will receive 0.595 common shares of Harvest One (the “Harvest One Shares”) for each Delivra Share (the “Exchange Ratio”).
Original Press Release, Click Here.
March 5th, 2019
Target Group Inc. completes acquisition of Massachusetts-based CannaKorp, Inc., makers of the innovative, pod-based WISP™ Vaporizer
Target Group Inc. (OTCQB: CBDY) (“Target Group” or the “Company”), is pleased to announce today, that effective March 1st, 2019, it completed its acquisition of Massachusetts-based CannaKorp, Inc. (“CannaKorp”) in a stock-for-stock exchange. The acquisition was completed with 99.8% of CannaKorp shareholders approving and exchanging their shares for Target Group stock. Following the close of the acquisition, CannaKorp will continue its business operations as a subsidiary of Target Group. CannaKorp is the holder of the patent-pending WISP™ Vaporizing system.
March 6th, 2019
Nielsen Enters Cannabis Measurement In The U.S.
Today Nielsen (NYSE: NLSN) and Headset, the leading data & analytics service provider for the legal cannabis industry, announced the formation of a U.S.-specific strategic alliance to deliver a read into the U.S. legal cannabis market for consumer packaged goods (CPG) companies. This move comes as Nielsen steadily develops a full suite of cannabis measurement capabilities, inclusive of strategic partnerships and beyond, to help CPG companies monitor the evolution of the legal cannabis space, and the potential impact of legal cannabis sales to better mitigate threats and identify future opportunities.
Original Press Release, Click Here.
Flower One Announces Terms of Up To $50.0 Million Public Offering of Convertible Debenture Units
Flower One Holdings Inc. (the “Company”) (CSE: FONE) (OTCQB: FLOOF) is pleased to announce the price and terms of its overnight marketed public offering previously announced on March 4, 2019 (the “Offering”). The Offering will be conducted on an agency basis for the issuance of up to 50,000 convertible debenture units of the Company (the “Debenture Units”) at a price of $1,000 per Debenture Unit (the “Offering Price”) for an offering size of up to $50,000,000 (the “Offering”). The Offering is being led by Mackie Research Capital Corporation and Canaccord Genuity Corp. (collectively, the “Lead Agents”), on behalf of a syndicate of agents including Cormark Securities Inc., Eight Capital Corp., Industrial Alliance Securities Inc., and PI Financial Corp. (together with the Lead Agents, the “Agents”).
Original Press Release, Click Here.
March 7th, 2019
710 Security Acquires Colorado’s First Cannabis Security Company
710 Security LTD, a fully-integrated cannabis security firm with offices in Colorado, Ohio and Michigan announced today that it acquired Leif Alert, a company based out of Evergreen, Colorado that provides custom security systems in homes and commercial cannabis facilities. Lief Alert Owner, Chris Boyd, will join 710 Security as the Chief Operating Officer. Terms of the transaction were not disclosed.
Since its inception, Lief Alert has positioned itself as a reputable cannabis security company, securing facilities in Colorado, Michigan and Oregon for Viola Extracts, Simply Pure, Starbuds, Bonfire Cannabis, A Cut Above and Dark Horse Genetics.
Original Press Release, Click Here.
March 8th, 2019
Cronos Group Inc. Closes C$2.4 Billion Strategic Growth Investment from Altria Group, Inc.
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”) today announced that the C$2.4 billion equity investment in the Company by Altria Group, Inc. (NYSE: MO) (“Altria”) has closed. As previously announced, Altria’s investment represents an approximate 45% ownership interest in Cronos Group. Altria also has a warrant to acquire additional ownership in Cronos Group, which is exercisable over the next four years. If exercised in full today, the warrant would increase Altria’s ownership in Cronos Group to approximately 55% and provide Cronos Group with additional proceeds of approximately C$1.4 billion.
Original Press Release, Click Here.
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