A key component of a bill that would legalize possession and sale of marijuana for recreational use in Illinois—erasing cannabis-related convictions for potentially hundreds of thousands of people—may violate the state Constitution, according to the group representing county prosecutors statewide.

The bill essentially would create legislative pardons, which are illegal, said Robert Berlin, president of the Illinois State’s Attorneys Association.

Under the Illinois Constitution, only the governor can issue pardons, Berlin, the DuPage County state’s attorney, told The State Journal-Register.

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SALINAS, CA – PRESS RELEASE – Indus Holdings, Inc. has announced that it has signed a definitive agreement to acquire the assets of W The Brand, a multi-state manufacturer and distributor of cannabis concentrates, cartridges and disposable pens, in a cash and stock transaction. The transaction solidifies Indus’ position as a market leader and dominant force in the cannabis industry through expansion of its operations beyond California into the cannabis-friendly states of Nevada and Oregon.

“We are excited to expand the Indus footprint as it creates further awareness to our brands and more opportunities for our incredible team,” commented Indus Co-Founder and Chief Executive Officer Robert Weakley. “Having established a dominant presence in the world’s largest cannabis economy, we are taking a natural step forward, and we’re excited to introduce Nevada and Oregon consumers to our lineup of award-winning Indus brands.”

Key Highlights

• In Nevada, Indus will acquire a recently renovated 24,000-square-foot cultivation and production facility with expansion capacity to bring its total footprint to nearly 76,000 square feet.
• The Nevada facility is less than two miles from the Las Vegas Strip, a location that links Indus to 40 local dispensaries and a robust tourism sector that attracts 42 million visitors annually. Nevada’s cannabis industry has experienced unprecedented growth since recreational use became legal in January 2017, with an estimated $1 billion in sales projected by 2024, according to the Nevada Dispensary Association.
• To the north, Indus is expanding into Oregon with an operation that includes a recently opened, 6,000-square-foot manufacturing facility near downtown Portland that includes a warehouse, office and lab space, as well as extraction capabilities.
• With the turn-key capabilities of the W Vapes operations, the transaction allows the expansion of Indus’ award-winning portfolio of California brands into Nevada and Oregon. 
• W Vapes currently manufactures and produces multiple internally developed brands.
• The transaction is expected to be revenue accretive in 2019, and EBITDA accretive in 2020.
• The transaction is expected to close in the fourth quarter of 2019.

Summary of Terms

Under the terms of the agreement, Indus will acquire the assets of W Vapes with consideration to W Vapes shareholders consisting of $10 million in shares of Indus Holdings, Inc. common equity (based on a deemed value of CDN$15.65 per share) and $10 million in cash.

Through the transaction, Indus will acquire cultivation, manufacturing, and distribution licenses and operations in Las Vegas, Nevada and Portland, Oregon.  All intellectual property and other operating assets of the Nevada and Oregon businesses will also be acquired.

Completion of the acquisition is subject to customary closing conditions.

CENTRAL POINT, Ore., May 14, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- PRESS RELEASE -- Hemptown Organics Corp., a multi-state hemp operation doing business as Hemptown USA, has announced the completion of a CAD$23,240,000 round of financing, which closed May 10, 2019. Canaccord Genuity Corp. acted as lead agent on the brokered portion of the financing on behalf of a syndicate of dealers that included Sprott Capital Partners LP, Beacon Securities Ltd. and PI Financial Corp. In concert with existing revenue and capital, the financing enables Hemptown USA to embark on a multi-state expansion; purchase USD$5.5 million worth of Oregon CBD (cannabidiol) seeds; begin the build-out of Hemptown USA's processing and extraction facilities and research team, and initiate planting and harvesting of Hemptown USA's 2019 crop of feminized hemp seeds.

With this capital infusion, Hemptown USA is endeavouring to become a formidable multi-state operation within the rapidly growing hemp industry. As a byproduct of growing high-grade feminized hemp, Hemptown USA is proposing to processes full spectrum CBD and CBG crude and distillates, achieving higher yields versus industrial hemp. Hemptown USA’s competitive advantages include, but are not limited to:

• A first-year yield of 110,000 lbs of feminized hemp biomass.
• A projected gross margin greater than 77 percent on average from 2018’s harvest.
• Is one of the largest CBG producers in the United States with Hemptown USA's purchase of 1 million rare CBG seeds for the 2019 growing season. 
• Producing some of the world’s most coveted strain profiles containing 15 to 20 percent full spectrum CBD, CBG and other cannabinoids and terpenes.
• Presently growing 1,500 acres in Oregon, Kentucky and Colorado with the capability to more than double the acreage in 2020 and each year after.
• An R&D plan designed to allow Hemptown USA to farm more novel cannabinoid strains in large quantities (CBC, CBDV and CBGV) in 2020, 2021 and 2022.
• Plans  to acquire a GMP- certified nutraceutical facility to develop unique cannabinoid products for the health and wellness industry .
• Plans to enter into the consumer packaged goods sector by building and acquiring high-potential brands.

“Successful companies in this sector will be those with the ability to build a scalable, vertically integrated multi-state company,” stated Rod Wolterman, founder and chairman of Hemptown USA. “We have assembled a well-respected team that has already produced some of the highest quality feminized hemp in the country here in Southern Oregon’s Emerald Triangle. The capital infusion will allow us to expand operations to Colorado, Kentucky and Northern California, ramp up processing capabilities, and develop disruptive product formulations in the CPG sector. We are excited to execute on our vision and delivering sustainably grown feminized hemp flower and biomass on a commercial scale."

SACRAMENTO, Calif., May 14, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Natura Life + Science, a contract manufacturing company, has announced the completion of a $91 million round of private financing and the construction of what will be the largest vertically integrated cannabis campus in California. Natura’s first planned facility spans 265,000 square feet, and when fully operational, will provide a full-service offering through its own in-house capabilities including cultivation, manufacturing and extraction, wholesale packaging and distribution, a delivery-only dispensary, and branding and marketing services.  Natura is scheduled to begin manufacturing, distribution and delivery in the third quarter of 2019, and expects to begin cultivation in early 2020.

"Natura’s first campus will be the largest, most high-tech, and sustainable operation of its kind in the state for contract manufacturing, education and end-to-end services,” said Ori Bytton, Natura founder and CEO. “Natura’s innovative new platform is centered around the needs of growing cannabis brands and entrepreneurs. Our goals are to manufacture products that are high-quality, clean and safe, to help businesses scale, not fail, and help companies build trust in their brands.”

Natura’s campus approach to the design of its LEED certified facility and grounds takes a page from Silicon Valley to create an environment that will inspire customers, vendors, and employees alike. A carefully crafted team of successful entrepreneurs, consumer packaged goods and cannabis experts, large scale agricultural and manufacturing experience, and savvy marketers ensure Natura provides the cannabis industry with an unprecedented range of contract manufacturing services.

It’s All About the Consumer

“The most successful brands in the industry are the ones that produce a standardized product, with a consistently enjoyable experience every time,” said Bytton. “We're here to advance the industry and pave the way for consumers and patients from all walks of life to benefit from this plant. This will require a new approach to infrastructure, and a commitment to education.” 

To accomplish this, Natura will ensure that the cannabis products it produces, packages and sells are of the highest quality, adhere to consistent standards and are worthy of consumer trust. That trust helps build credibility, not only for Natura, but for the industry as a whole. 

Investing in building consumers’ trust helps companies engage with their constituents, build strong sales pipelines, and scale their businesses.

“Once people know what they’re consuming, that it’s being made in a safe and reliable manner, and that it will have the same effect every time, brands will earn solid reputations,” said Bytton. “Natura is dedicated to helping legitimize cannabis products and the market by commercializing the cannabis industry in the most responsible manner.”

Attention to Details, Sustainability and Growth

Natura has conditional use permits for cultivation, manufacturing, distribution and a delivery-only dispensary, and has already applied for 19 corresponding licenses.

Natura’s first facility will be capable of producing upwards of 80,000 pounds of premium dried flower and processing of 750,000 pounds of dry material annually.

Sustainability is an integrated part of all operations, including a cultivation process designed to reduce greenhouse gas emissions, water-efficient irrigation, and the cooling, collection, treatment and re-use of all run-off water.

In addition to helping existing brands scale, Natura will seek out people with amazing ideas who need everything from formulation to a supply chain partner, strategic thinking, and marketing and branding, and help them build their business.