Palm Beach, FL – (November 20, 2018) — The medicinal uses niche of the cannabis industry continues to generate strong revenues as consumers are searching for alternative treatments and natural solutions for various health issues and conditions. Cannabis and CBD-based medicines and treatments have emerged at a key point in the evolution of the healthcare sector and leaders are capitalizing on momentum through the development of new products and marketing to new customer bases. It’s widely known that a billion dollar valuation for the medical cannabis market is a matter of when as opposed to it as the growth continues to accelerate with competition as well as innovation and favorable political conditions influence the landscape. Active companies in the industry making moves to ready that include: Choom Holdings Inc. (CSE:CHOO) (OTC:CHOOF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF), MedMen Enterprises Inc. (CSE:MMEN.CN) (OTC:MMNFF), HEXO Corp. (TSX:HEXO) (OTC:HYYDF).
Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) BREAKING NEWS: Choom, an emerging adult use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce it has acquired Clarity Cannabis Medical Centre Inc. and affiliates doing business as Clarity Medical Centres.
Chris Bogart, President & CEO states, “Our goal is to build a dominant national cannabis retail brand. The acquisition of Clarity Medical Centres allows Choom to service the entire Canadian cannabis market, beyond just the adult use channel. As cannabis becomes more widely accepted as an alternative to pharmaceuticals, increasingly, patients with medical conditions will require professional medical advice on the benefits and best use of cannabis as a treatment.”
The acquisition includes five new medical centres along with a proprietary telemedicine platform that provides important education, access and expertise for referring patients in the use of cannabis for medical purposes. The Clarity Medical Centres approach makes it simple for new patients to access legal medical cannabis products in Canada and streamlines the process of registering with a licensed producer.
There are medical conditions that may benefit from cannabis when it comes to treating several health issues including chronic pain, PTSD, seizures, tremors, and general anxiety. Clarity’s team of cannabis trained general and specialist physicians, nurses, pharmacists, and coaches all work together to ensure patients get optimal medical care. The clinics will provide education to patients on the best use of medical cannabis products as an alternative to pharmaceuticals.
Under the leadership of Dr. Jean Paul Lim, an internal medicine and complex care specialist, Clarity Medical Centres intend to study and monitor the effects of medicinal cannabis use. Clarity Medical Centres will use a patient-focused, research-based, multidisciplinary approach, from which Dr. Lim hopes to shatter cannabis misconceptions and build scientific evidence through the collection of patient data points around cannabis as an effective treatment.
As part of the transaction, Choom can access medical expertise from the clinics and leverage key learnings from the medical side to provide customer insights for our adult use channel. The Clarity medical clinic model is easily scalable and transferable across the rapidly growing medical cannabis space, both domestically and internationally adding an important retail revenue stream to Choom’s adult use strategy. Read this and more news for Choom at: https://www.financialnewsmedia.com/news-choo/
Additional industry related developments from around the markets:
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB.TO) last week announced the appointment of Dr. Jonathan Page, PhD as the Company’s Chief Science Officer. In this new role, Dr. Page will oversee all science-related projects at the Company. The Aurora science team develops innovative products for the medical, wellness and adult consumer markets and focuses on delivering industry-leading cultivation results in terms of yields, consistency, quality and efficiency. Dr. Page is a globally renowned cannabis scientist, with 37 peer-reviewed publications, who was the co-lead of the Canadian team of scientists who first sequenced the cannabis genome. His work also helped discover the biochemical pathways leading to the major cannabinoids. Prior to his appointment, Dr. Page served as CEO of recently acquired Anandia Labs, the world-leading cannabis-focused science company he co-founded. “We are thrilled to have Jonathan join the Aurora team as Chief Science Officer,” said CEO Terry Booth. “Jonathan’s knowledge of the cannabis plant and its applications make him a globally recognized leader in the cannabis sector.
MedMen Enterprises Inc. (CSE:MMEN.CN) (OTCQX:MMNFF) recently announced that, further to its press release dated November 16, 2018 , the Company has been issued a receipt by the applicable Canadian securities regulatory authorities for its preliminary prospectus dated November 16, 2018 (the “Preliminary Prospectus”) in connection with its offering of 13,640,000 units (“Units”), at a price per Unit of $5.50 , for gross proceeds of $75,020,000 , to be issued and sold on a bought deal basis to a syndicate of underwriters, led by Canaccord Genuity Corp., and including Eight Capital and Cormark Securities Inc. (the “Offering”). Each Unit will be comprised of one Class B Subordinate Voting Share of the Company (each, a “Class B Share”) and one Class B Share purchase warrant (each, a “Warrant”). Each Warrant will be exercisable at a price of $6.87 per Class B Share for a term expiring on September 27, 2021. For further details, please refer to the Preliminary Prospectus and the Company’s press release dated November 16, 2018.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD.TO) (OTCQX:TGODF) last week announced a supply partnership with Velvet Management Inc. for sales and distribution to provincial liquor and cannabis boards across Canada . Velvet is a new company with distinct ownership created by the largest wine distributor in Canada , Philippe Dandurand Wines. TGOD is committed to best-in-class distribution for its premium, certified organic cannabis. Sales and relationships with provincial cannabis and liquor boards is a critical aspect to TGOD’s success. Through the partnership with Velvet, TGOD has secured a strong entry point with every provincial liquor and cannabis board across Canada.
HEXO Corp. (TSX:HEXO.TO) (OTCPK:HYYDF) recently announced the closing of the acquisition of its interest in a large facility in Belleville, Ontario. This is the first facility that the Company has established outside of Quebec, further delivering on its national expansion strategy and allowing HEXO to create a centre of excellence for the development of advanced cannabis products. “Closing the transaction and acquiring our interest in this facility is integral to carrying out our hub and spoke business strategy,” said Sebastien St-Louis, HEXO’s CEO and co-founder. “The space can be scaled up based on our future needs and provides HEXO with the infrastructure it needs to continue partnering with Fortune 500 companies and to create category-winning cosmetics, edibles, vapes and more.” The centralized location, conveniently located along primary shipping routes in Ontario, will allow HEXO to process and distribute cannabis-based products to fulfil its commitments across Canada.
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