SANTA BARBARA, Calif., Sept. 10, 2019 /PRNewswire/ -- PRESS RELEASE -- Canndescent, a California-based cannabis cultivator, has announced the closing of $27.5 million in Series C Preferred Funding. Leading the investment round, Green Acre Capital, a cannabis-specific venture fund from Canada, was joined by Carnegie Arch Capital, Senterra, LLC., Altitude Investment Management, JW Asset Management and a multinational beer company from Asia. Supporting the transaction, DelMorgan & Company and Benchmark acted as financial advisors.

The additional investment will help fuel the company's expansion into vapes and ingestibles as well as support the company's current growth efforts in Massachusetts, Nevada, Canada and beyond. The cannabis-centric CPG company will also deepen its investments in both of its brands – Canndescent in the ultra-premium segment, and goodbrands in the middle market.

"The institutional investment community recognizes our attractive risk-reward profile and continues to validate our strategy of driving growth through more brands, products and geographic markets," said Adrian Sedlin, Canndescent's CEO. "Executing to plan, we just broke our previous revenue record last month by 38% and will drive to profitability in 2020."

"Given its proven management team, brands and growth record in California, we've made Canndescent an anchor investment for our second fund," said Tyler Stuart, managing director of Green Acre Capital. "Canndescent's exceptional products, execution and forward-thinking leadership will definitely earn it a significant stake in the future of the cannabis industry."

DALLAS, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PRESS RELEASE -- Kali-Extracts, Inc. has announced a scheduled presentation to outline the company’s plans for certifying its proprietary CBD extracts derived from KALY’s U.S. patented extraction process as an over-the-counter (OTC) drug under the requirements prescribed by the U.S. Food and Drug Administration. The plan, to be presented next week on Tuesday, Sept. 17, 2019, follows KALY’s recent announcement about receiving a formal proposal to take one or more of its proprietary CBD extracts derived from the company’s U.S. Patented Extraction Process through a Current Good Manufacturing Practices (cGMPs) certification process for the purpose of certifying the extract as an OTC drug under the requirements prescribed by the U.S. Food and Drug Administration.

KALY Analyst Report Speculating $0.05 PPS

A recent analyst report from Goldman Small Cap Research published last week covering KALY’s recent biopharmaceutical cannabis extract business development updates has now been updated to the company’s website. The report can be found in its entirety on Goldman’s website www.goldmanresearch.com and on the company’s website, www.kali-extracts.com/analyst-rpt. The report speculates a potential KALY price per share of $0.05.

COSTA MESA, Calif., Sept. 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE --PRESS RELEASE -- Sipp Industries, Inc., a corporation specializing in the manufacturing and distribution of commercial and consumer products, and the first publicly traded company in America whose primary focus is the production and sales of hemp-infused beer, announces the latest run of Major Hemp HIPA is being packaged and shipped to Sparta Beverage in Kansas City, Mo. for distribution throughout the states of Missouri and Kansas.

The company continues to work through regulatory hurdles with the Alcohol Tobacco Tax & Trade Bureau (TTB) concerning the use of cannabis and alcohol, which has significantly delayed orders of Major Hemp HIPA outside the states of Illinois and Iowa.

Ted Jorgensen, president of wholly-owned subsidiary Major Hemp, stated, “We are excited to receive our first major order from distribution partner, Sparta Beverage. It has taken over four months to work with and meet the requirements of the state of Missouri. We are happy to overcome this hurdle and Sparta has already pre-sold most of the inventory.”

The company is working through similar regulatory requirements with the Texas Alcoholic Beverage Commission (TABC) with Texas-based brewing and distribution partner, Nine Band Brewing. Relevant paperwork and documentation has been submitted to the TABC and the company is awaiting official approval from the state of Texas. Upon approval, Nine Band Brewing will immediately begin production of Major Hemp HIPA. Sipp Industries expects Texas and the southern market will be significant revenue drivers for the company.

The company’s CBD beer recipe has been submitted to both the TTB and the FDA, and is still awaiting final approval. The recipe was prepared with THC free CBD which the company believes will be critical in gaining approval.

VANCOUVER, Sept. 10, 2019 /CNW/ - PRESS RELEASE - Harvest One Cannabis Inc., through its wholly-owned subsidiary United Greeneries Ltd., announces that, on Sept. 6, 2019, it obtained an amendment to its license from Health Canada which will allow for the sale of cannabis oil products.

Receiving a cannabis oil sales licence from Health Canada is a significant milestone for Harvest One as it prepares formulations for the next wave of cannabis products in Canada. New product development is currently at an advanced stage through licensed third-party partners, and the company will be launching a variety of vape and infused products when regulations come into effect later this year. The license also enables the company to commence initial sales of cannabis oil products to provincial and private retailers in British Columbia, Ontario, Saskatchewan and Manitoba.

"Securing our cannabis oil licence from Health Canada is another key step in the evolution of Harvest One as we get ready for the next stage of legalization" said Grant Froese, chief executive officer of Harvest One. "We are looking forward to launching infused products across all of our brands including Royal High, Satipharm, Dream Water and LivRelief."

The company's existing Health Canada approved non-cannabis based products such as Dream Water and LivRelief provide a unique differentiator for Harvest One. Those existing products position the company well to be an early entrant into the derivatives market in Canada. When legal, Harvest One will release new THC- and CBD-infused versions of these brands, which products have already been developed by its formulation team.