December 6, 2019
RECAP OF PORTFOLIO COMPANIES IN THE NEWS:
- Avicanna Announces Option to purchase Newly Formed US Cannabis Operator; Rho Phyto Branded Products To be Available In California; And, Will Supply UK Market Through Agreement with LYPHE Group
- Jushi Begins Trading on the CSE under the Symbol “JUSH”
- Next Green Wave Announces CDN$5.3 Million In Financings
- Sanna Health Corp Enter Into ITerim Agreement to Be Acquired By AgraFlora Organics International Inc.
- TerraScend Reports Third Quarter 2019 Financials; Closes Third Tranche of Non-brokered Private Placement; And Announces Agreement On Two Year Term Loan ANd Extension To credit Facility
- Vireo Health Reports Third Quarter 2019 Financial Results
- Vivo Reports Third Quarter 2019 Financial and Operating Results
Avicanna Inc. (“Avicanna”, TSX: AVCN), part of CGOC’s public portfolio, is a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products.
November 26 – Avicanna announces option to purchase newly formed US cannabis operator (LC2019), through a licensing agreement whereby Avicanna agreed greed to license certain proprietary formulations and brand elements to LC2019 for commercialization in the United States. To read the full release follow this link.
Jushi Holginds Inc. (“Jushi”) (CSE: JUSH; NEO: JUSH.B), part of CGOC’s public portfolio, is a globally- focused cannabis and hemp company led by an industry leading management team.
December 3 – Announced that it has received approval to begin trading its common shares on the Canadian Securities Exchange (“CSE”) under the ticker symbol “JUSH”. To read the full release follow this link.
Next Green Wave Holdings Inc. (“Next Green Wave”) (CSE: NGW), part of CGOC’s public portfolio, is a fully integrated premium cannabis producer with 8 legacy brands and over 45 products marketed through its WEARESDC brand house.
November 22 – Next Green Wave completed an asset-backed financing with Landrace Financial (the “Lender”) for a loan (the “Loan”) in the amount of CDN$5,300,000. To read the full release follow this link.
Sanna Health Corp. (operating under the umbrella of Full Spectrum Brands Inc., “Sanna”), part of CGOC’s private portfolio, is a Canadian cannabis company with standard cultivation, processing and medical sales licenses.
December 5 – AgraFlora Orgranics Interational Inc. (“AgraFlora”), has entered into an interim agreement to acquire 100 per-cent of the issued and outstanding shares of Sanna. To read the full release follow this link.
TerrAscend Corp. (“TerraAscend”) (CSE: TER), a part of CGOC’s public portfolio, is the first and only global cannabis company licensed for sales in Canada, the US, and the EU.
November 20 – Announced strong revenue growth and margin improvement for the third quarter of 2019. To read the full release follow this link.
November 26 – Announced it closed the third tranche of the previously announced non-brokered private placement of units of TerrAscend for additional gross proceeds of approximately $2.65 million. To read the full release follow this link.
December 3 – Announced that it has (i) extended the maturity date of its US$75 million credit facility due December 18, 2019 with funds managed by JW Asset Management LLC for up to three months and (ii) executed a term sheet with funds managed by JW Asset Management LLC to convert any amounts outstanding under the credit facility into a two-year term loan with an expected maturity of March, 2022. Jason Wild, Chairman of the Board of TerrAscend, is the President and Chief Investment Officer at JW Asset Management. To read the full release follow this link.
Vireo Health International Inc. (“Vireo”, CSE: VREO), part of CGOC’s public portfolio, is a leading physician-led, science-focused, multi-state cannabis company.
November 27 – Reported financial results highlighting total revenue of US$8.0 million (an increase of 62% year-over-year). To read the full release follow this link.
Vivo Cannabis Inc. (“Vivo”) (TSX-V: VIVO), part of CGOC’s public portfolio, based in Napanee, Ontario, is recognized for trusted, high-quality products and services and operates world-class indoor cultivation facilities with proprietary plant-growing technology.
November 14 – VIVO’s net revenue increased to $6.3 million during Q3 2019, a 19% increase relative to Q2 2019, reflecting the ramp-up of the Company’s increased licensed capacity which is expected to result in further revenue growth in Q4 2019.To read the full release follow this link.
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