GB Sciences, Inc. on Friday, September 13, 2019, filed an 8k announcing the sale of its 50% ownership stake in GB Sciences Louisiana, LLC. The stake will be purchased by Wellcana Plus LLC, affiliated through its managers with the group which holds the other 50% of the Louisiana operations. Expected to close by the end of October 2019, the sale is for $16 million to GB Sciences, $7 million in cash at closing, $1 million in cash within 60 days of closing, and the remaining $8 million as an
The sale will greatly reduce the current and future burn rate of the Company and allow it to focus on achieving profitability, seeking a DEA license, and implementing GMP, a set of regulations promulgated by the US Food and Drug Administration to ensure quality control in the manufacture of pharmaceuticals, dietary supplements and natural health products among other substances, at its Las Vegas, Nevada location. GB Sciences also will continue to develop its clinical cannabis formulations for which the Company has filed numerous patents, progressing the research towards clinical trials and first-in-human pilot studies.
GB Sciences and GB Sciences Louisiana will endeavor to collaborate on research and clinical trial opportunities, and the Company will grant GB Sciences Louisiana the opportunity to license the Company's proprietary formulations for use in research and final formulations upon mutually agreeable terms.
International Spirits & Wellness Holdings, Inc. (OTCMKTS: ISWH) (“ISWH” or the “Company”), a top-tier brand incubator in the Spirits, CBD-Infused
Hydroponics, Inc., a national provider of agricultural supplies and logistics specific to the cannabis and hemp industries, announced today that it will
TerrAscend Corp., the first and only global cannabis company licensed for sales in Canada, the US, and the EU, today announced it has closed on its
The Yield Growth Corp. announced that on September 14, 2019, it entered into an agreement with Absolem Health Corp., to acquire a 30% interest in Absolem.
Kali-Extracts, Inc. today announced its first hemp harvest has begun. On Friday the company announced continued cannabinoid testing on hemp flowers from its
CannaRegs, Inc., the industry's first technology platform monitoring cannabis regulations and taxation at the municipal, state and federal level, recently
