A series of technical snags has forced the Maryland Medical Cannabis Commission to give companies 14 more days to apply for one of the state’s 14 new growing and processing licenses, state regulators announced Monday.

The commission had received more than 160 applications by the previous May 24 deadline from firms seeking to score a license in a second round of awards aimed at increasing the participation of minority- and women-owned businesses.

The state is issuing four new cannabis growing licenses and 10 new licenses for processing the plant into medical products.

Companies now will have until June 24 to submit new applications “following a series of technical issues that presented obstacles to a significant number of those attempting to submit applications electronically by the May 24th deadline,” the commission announced Monday.

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June 6, 2019 Hong Kong – PRESS RELEASE – Regent Pacific Group Limited, a specialist healthcare, wellness and life sciences investment group, has signed an indicative non-legally binding offer letter with Entertainment Direct Asia Ltd. to acquire Yooya for a potential consideration of US$15 million. If successful, the transaction would be effected through a share for share exchange.

Following the transaction, Yooya will expand its sector focus and become the first e-commerce marketing platform to focus on CBD infused products that are designed to awaken the body’s natural healing system and promote better health and sleep; and products that safely eliminate the psychoactive THC from hemp.

Yooya is a content-driven e-commerce platform that is reshaping the way that brands connect with Chinese consumers. Total e-commerce revenue in China is forecast to top US$1.8 trillion by 2022. Yooya recognizes that the way that Chinese consumers shop and the factors that influence purchase decisions have changed dramatically, with video content consumption being the single most popular activity on the internet in China. Japan, Asia’s second largest e-commerce market in dollar terms, will see nearly 90 million e-commerce shoppers by 2021.

Yooya helps brands to reach the right audiences through its targeted video platform; and substantial network of content producers and e-commerce providers. John Possman and Richard Myers, existing directors of Yooya, have over fifty years of experience combined in media, technology and consumer products in Greater China, Japan, and other markets in Asia.

Yooya is particularly focused on brands in the beauty and cosmetics, health and wellness, apparel, and related sectors. Recent research from Kantar shows that in 2018 annual online sale of cosmetics, skincare, and personal-care products in China grew by 46 percent, 40 percent and 37 percent respectively.

Jamie Gibson, chief executive officer of Regent Pacific, said, “We see huge opportunity to use the Yooya team’s extensive experience in digital marketing and partnerships with both influencers and e-commerce platforms to support the roll out of our CBD, organics and natural formulations business, which require more targeted engagement to reach the end-consumer.”

The possible acquisition remains subject to a number of pre-conditions, including completion of due diligence, respective approvals of the company’s and Yooya’s boards and formal acquisition documentation to be agreed between the company and each of Yooya’s shareholders.

On completion of the transaction, Lorne Abony will join the company’s board of directors as a non-executive director. Abony is a well-known technology, media and wellness entrepreneur whose many successful ventures include the co-founding of FUN which he later sold in 2006 to Liberty Media for C$484 million and Mood Media Corporation, a business he grew from start up to US$750 million in revenue, US$130 million in EBITDA, 3,300 employees and offices in 47 countries. In 2017, Abony co-founded and was CEO of Nuuvera Corporation, a leading wellness company that sold 11 months after being formed for C$832 million.

To further support the expansion into new product lines, the company has also signed subscription agreements with Jim Mellon, Jamie Gibson and an experienced group of strategic investors including principals of JJR Capital and Abony Enterprises in CBD, organics and natural formulations for a total amount of approximately US$17.5 million in convertible loan notes. The loan notes will accrue interest at a rate of 4 percent per annum, mature in May 2022 and be issued at a conversion price of HK$0.2125 per share, representing a 15 percent discount to the closing price of the Ordinary Shares as quoted on the Hong Kong Stock Exchange on the date immediately preceding the date of this press release.

“The capital raised through this offering will help us drive our rapid expansion into the fast-growing CBD segment, which is estimated to be worth up to US$15 billion in China alone by 2024," added Gibson. “We envisage rolling out our CBD business in Asia with a line of exceptional consumer-focused products initially in the health and wellness area, including topicals and balms, and working with the world’s largest CBD manufacturers to build out our CBD brands over time. The participants in this offering include strategic investors in the company who have generated very successful investment returns in the CBD market and we are grateful for their confidence in the Company.”

The issuance of the loan notes to Jim Mellon and Jamie Gibson will be subject to independent shareholders’ approval and the new Regent shares to be issued to the subscribers will be granted pursuant to a specific mandate that will be subject to shareholders’ approval.

VANCOUVER, British Columbia, June 10, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- CROP Infrastructure Corp. has announced that it intends to conduct a non-brokered private placement offering of senior secured convertible debentures at an original issue discount of 20 percent with aggregate face value of up to $1,250,000, for gross aggregate proceeds of up to $1,000,000.

The terms of the debentures include:

• a maturity date of one year from the date of closing of the offering and will bear interest at a rate of 10 percent per annum, payable quarterly in cash;
• subject to adjustment, the holders of the debentures, at any time, may convert all or any part of the principal amount outstanding under the debentures into common shares of the company at a conversion price of $0.30 per conversion share and with which any accrued and unpaid interest may be converted into conversion shares at a conversion price of $0.30 per conversion share; and
• the company may elect to repay, in cash, the outstanding principal amount of the debentures, including any accrued and unpaid Interest, upon 30 days written notice any time following the initial 4 months from the date of closing.

Each subscriber to the offering shall receive one share purchase warrant for each $0.30 of principal amount with each warrant entitling the holder thereof to acquire one common share of the company at an exercise price of $0.50 per warrant share (the “Exercise Price”) for a period of 3 years from closing.

If the company undertakes an equity financing at a price per common share less than 95 percent of the closing market price per share while the debentures are outstanding, the conversion price, subject to Canadian Securities Exchange (CSE) approval, will be adjusted so that it will equal the price determined by multiplying the conversion price by a fraction, of which the numerator will be the total number of shares outstanding on such date plus a number equal to the number determined by dividing the aggregate purchase price of the additional shares offered for subscription or purchase by the closing market price per share on the day immediately preceding such date, and of which the denominator will be the total number of shares outstanding on such record date plus the number of the additional shares.

If during the term of the warrants, the company issues warrants with an exercise price below the exercise price, the company will, subject to CSE approval, adjust the exercise price downward to the to the greater of (a) the price of such issuance, and (b) the closing market price of the shares on the CSE on the trading day prior to public dissemination of the news release disclosing the issuance of the debentures, less the maximum discount permitted by CSE policies. Further, if during the term of the warrants, the company issues warrants with an exercise price below the exercise price, the company will, subject to prior approval from the CSE, issue to the warrant holder special warrants at the reduced exercise price equal to the number of Warrants that would have been issued if the reduced exercise price was used to calculate the number of warrants issued.

The debentures will be collaterally secured by: (a) an amended general security agreement constituting a charge and security interest in all of the personal property of the company; and (b) an unlimited guarantee of certain U.S. based entities of which the company holds an equity interest consisting of DVG LLC, Elite Ventures Group LLC, Humboldt Holdings, LLC, Ocean Green Management LLC, Wheeler Corridor Business Park LLC, and Wheeler Park Properties, LLC and collaterally secured by security agreements issued by each Guarantor; (c) a pledge of equity interest from the company relating to the equity interests of each of the guarantors; and (d) a first priority deed of trust lien on the real property of the guarantors located in California, Washington and Nevada. The enforcement of the security is subject to the terms and conditions of the certificates representing the debentures and to an Amended Agency and Interlender Agreement to be entered into among the holders of the debenture certificates, the company, each of the guarantors, and an agent.

The proceeds of the cffering are expected to be used to continue to grow the company’s United States operations and for general working capital purposes.

None of the securities issued in connection with the offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

Boulder, Colo. (June 10, 2019) — PRESS RELEASE — Filling a niche in the CBD market, Wana Brands—a cannabis-infused products brand—has released Pomegranate Blueberry Acai Sour Gummies 5:1 CBD/THC, adding a high CBD ratio that can offer the therapeutic effects of cannabidiol (CBD) along with the complementary entourage effects of a minimal amount of tetrahydrocannabinol. Bursting with refreshing, sweet and tangy flavors, each gummie is handcrafted and infused with 25 mg of CBD and 5 mg of THC per piece; 20 gummies per container for a total of 500 mg CBD and 100 mg THC.

CBD products with a 5:1 ratio are somewhat rare. Experts say that, for at least some therapeutic uses, a CBD product that also contains THC might be superior to a hemp-derived CBD product that lacks any trace of THC because of the "entourage effect;" the two cannabinoids, along with scores of others contained in the cannabis plant, are thought to complement each other and increase effectiveness. Wana's 5:1 product might be just right for people who haven't yet found the optimal ratio for them.

"Our new Pomegranate Blueberry Acai Sour Gummies give consumers yet another choice in terms of dosing," said Nancy Whiteman, founder and CEO of Wana Brands. "It is one of an array of alternatives that Wana Brands offers, enabling people to match products to their own particular needs. These tasty gummies are ideal for people who want a little THC along with their CBD, but not too much. A 5:1 ratio means that most people will be able to function normally in their daily routines while still receiving the beneficial effects of the plant. I personally love this product as a sleep aid."

Made from a proprietary artisan recipe featuring all-natural flavors and colors, Wana Pomegranate Blueberry Acai Sour Gummies are handcrafted and infused with tincture during the cooking process to create a delicious, fruity flavor that is consistent, potent and reliable. Like all Wana gummie products, they are made with vegan ingredients and are gluten free. Wana Gummies also contain no sorbitol or mineral oil, both of which can cause stomach upset.

The Pomegranate Blueberry Sour Gummies will be available first in recreational adult-use and medical-marijuana dispensaries in Colorado before being rolled out in Wana’s other markets, including Arizona, Illinois, Nevada, Oregon and Michigan. Wana is gearing up to move into other markets across the country through the end of the year. 

CBD is one of the most well-known and researched cannabinoid molecules found in cannabis and scientists are exploring its potential to provide relief from issues such as chronic pain, anxiety, muscle aches, spasms and more.

Wana’s product portfolio provides a range of different options that enable customers to create the specific cannabis experience they want. Wana products offer diverse product forms including edibles, vapes, and extended release capsules, four different CBD/THC ratios as well as a variety of different dosages, onset times and duration of effects. The portfolio is designed so that products can be used singly or in combination to address specific health, wellness and recreational needs.

Wana Brands has invested in refining its proprietary recipes so that the taste of the company’s delicious ingredients comes through—not the taste of medicine—producing artisan-quality edibles and medicinal products that have undergone rigorous internal and external testing to ensure precise dosage and consistency.