DearJohn replied the topic: Cannabis Wheaton TSXV:CBW
Thanks Alex, lots happening. Aurora Cannabis has struck a deal to acquire a 19.9-per-cent stake in Edmonton-based Liquor Stores for $103.5-million in cash, with a plan to increase that to 40 per cent. The transaction gives Aurora a claim to the largest alcohol retailer in Alberta, with a presence in British Columbia,
alexgreat replied the topic: Cannabis Wheaton TSXV:CBW
The Financial Post reports in its Tuesday edition that adult recreational pot users in British Columbia, will be able to buy weed from private retailers, in urban centres and in government-run stores across the province, the B.C. government announced on Monday. The Post's Mark Rendell writes that the B.C. Liquor Distribution Branch (LDB) is opening "a new standalone network of public retail stores," and will manage on-line sales. In urban areas, private stores will be allowed, although their retail activity will be limited. A government news release says, "Licensed retailers will not be able to sell cannabis in the same stores as liquor or tobacco." Private cannabis retailers also will not be allowed to sell other products like food, gas, clothing and lottery tickets. There is no cap on the total number of private retail licenses the government intends to issue.
GoldnBoy replied the topic: Cannabis Wheaton TSXV:CBW
More good news today
VANCOUVER, British Columbia, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSX-V:CBW) (“Wheaton Income” or “Wheaton” or the “Company”) is pleased to announce that it has entered into a binding interim supply agreement (the “Agreement”), pursuant to which Wheaton will purchase cannabis, including dried flower and cannabis oil (collectively, the “Cannabis Products”) for distribution to federally legal international jurisdictions from Aphria Inc. (TSX:APH) (USOTCQB:APHQF) (“Aphria”).
Under the terms of the Agreement, Aphria will supply Navisent Inc., a subsidiary of Wheaton formed for the purposes of establishing international distribution channels with up to 60,000 kilograms of Cannabis Products between now and February 1, 2022. Securing the supply of Cannabis Products under the Agreement allows Wheaton to accelerate the execution of its international distribution strategy 12-18 months ahead of schedule and establish a strong presence in various federally legal international jurisdictions that are experiencing strong demand for medicinal cannabis products. The Agreement is to be superseded by a definitive agreement (the “Definitive Agreement”) to be entered into by Wheaton and Aphria imminently.
Hugo Alves, President of Wheaton Income, stated, “As we’ve demonstrated through our previously announced distribution partnerships, we are focused on building strategic distribution channels for Wheaton’s own cannabis products and those of our streaming partners. As our distribution platform starts to take shape domestically we have been actively exploring high margin international channels in emerging federally legal jurisdictions. We are thrilled to be partnering with an industry leader such as Aphria as we begin to execute our international strategy. This supply arrangement enables us to deploy product into international jurisdictions that are of interest to us and gain brand presence and market share in those markets on an accelerated timeline. With over 800 million people residing throughout legalized cannabis jurisdictions globally and an addressable global medical market size expected to exceed $30 billion by 2021, this agreement with Aphria allows us to meaningfully participate in international supply opportunities 12 to 18 months ahead of schedule as we continue to develop our own domestic production platform. We view this as an accretive arrangement for both Wheaton and Aphria and look forward to working with Vic and his team.”
alexgreat replied the topic: Cannabis Wheaton TSXV:CBW
Gambler you call ed the break out Wow!! A lot of money coming into the sector and $100M for CBW
VANCOUVER, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSX.V:CBW) ("Wheaton Income" or the "Company") is pleased to announce that as a result of strong investor demand, it has increased the size of its previously announced private placement offering of convertible debenture units to up to $100 million (the "Offering"). Terms of the Offering are more particularly described in the Company's news release issued on December 22, 2017.
Gambler replied the topic: Cannabis Wheaton TSXV:CBW
GB, it is now, great news today
2017-12-21 01:35 ET - News Release
Mr. Chuck Rifici reports
CANNABIS WHEATON INCOME CORP. ANNOUNCES NEW JOINT VENTURE FOR DEVELOPMENT OF WORLD'S LARGEST INDOOR CANNABIS FACILITY WITH LICENSED PRODUCER PARTNER FV PHARMA INC.
Cannabis Wheaton Income Corp. (doing business as Wheaton Income) has entered into a letter of intent with FV Pharma Inc., a licensed producer pursuant to the ACMPR (Access to Cannabis for Medical Purposes Regulations) having received its cultivation licence on Oct. 13, 2017. Under the terms of the agreement, the company will develop all aspects of FV's cannabis cultivation facility in mutually agreed staged phases, creating the largest indoor cannabis cultivation and processing facility in the world.
The FV Pharma state-of-the-art facility hosts an existing 620,000 square feet of building space and is famously known as the former Kraft food manufacturing facility. The facility is ideally situated only one hour east of Toronto in Cobourg, Ont., off of the 401 Highway and has access by car or rail to Ottawa and Montreal.
The facility rests on 70 acres of land, 32 of which have been utilized for the current building with the remaining 40 acres available for the staged-phased facility development. Upon completion of the facility development, FV expects to achieve a total of approximately 3.8 million square feet dedicated to cannabis cultivation and related ancillary businesses all under one roof making it the largest indoor cannabis cultivation facility in the world. The facility has an electrical substation on site, natural gas lines, multiple water intakes, rail lines directly into the facility and 26 loading docks, thereby providing the robust infrastructure necessary to accommodate FV Pharma's expansion plans.
Wheaton and FV plan to utilize the facility to supply Canada's current medical and future recreational market for cannabis with a vision to offer mass quantities of dried cannabis, cannabis oils and, when legally permitted, food-grade cannabis edibles, all subject to FV Pharma receiving the necessary licences.
Pursuant to the agreement, the company will receive a 49.9-per-cent stream of all cannabis (or cannabis-derived products, including any immature cannabis plants and any cannabis trim) produced at the facility, under partnership with Wheaton, in perpetuity. The company estimates that the Wheaton allocation will result in approximately 200 million grams of cannabis for the company's benefit per annum upon completion of all phases of the facility development. In exchange for the Wheaton allocation, using its unique expertise and experience, the company's management team will assist FV Pharma with all aspects of the design, development, financing, buildout and operations of the facility, as well as the marketing, branding and distribution of the cannabis and cannabis-derived products generated by the facility.
As part of the arrangement, the company will also participate in the governance of FV Pharma by having one company nominee appointed to the board of directors of FV Pharma.
Chuck Rifici, chairman and chief executive officer of Wheaton Income, stated: "This marks a very exciting moment for Cannabis Wheaton. The joint venture with FV Pharma provides us access to the one of the most unique and the largest indoor cannabis facilities on the planet. The Kraft facility project is highly reminiscent of my early days at Tweed (now Canopy Growth), where I had the privilege of converting that company's first major production asset, the old Hershey factory in Smiths Falls, Ont., into something new and exciting. This is the same scenario but on a much larger scale and in perhaps the most ideal location in Canada, in close proximity to the largest addressable market in the country.
"When completed, this massive facility will not only create a tremendous amount of supply for the recreational Canadian market, but it will also create hundreds of jobs for the city of Coburg similar to what we accomplished in Smiths Falls. We are thrilled to be working alongside the FV Pharma team and can't wait to get started on creating value and growth through best industry practices at a scale that will truly redefine the definition of world-class in this sector."
"We are delighted to partner with Cannabis Wheaton to develop our cultivation operations in our world-class facility," said Thomas Fairfull, president and chief executive officer of FV Pharma. "There are very few people in the industry that have the experience to convert a large-scale food grade facility into a cannabis cultivation facility. Chuck Rifici, Brad McNamee and some members of their team were part of Tweed's (now Canopy Growth) repurposing of the former Hershey facility in Smiths Falls, Ont., and that is the closest comparison we could find for us, which led to the beginning of this partnership."
The transaction remains subject to certain conditions precedent, including receipt of applicable regulatory approvals, including Health Canada approval and the execution of a definitive agreement, which the parties expect to occur within 45 days.