https://www.cannabispressreleases.com/press-releases/ Wed, 29 Apr 2026 19:04:18 +0000 MyBB https://www.cannabispressreleases.com/press-releases/showthread.php?tid=53 Mon, 26 Jan 2026 14:37:02 +0000 Jayman]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=53 Signature Cannabis Line from Wrestling Icon Ric Flair to Expand Into Additional Markets in 2025
December 19, 2024

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NEW YORK--(BUSINESS WIRE)--Dec. 19, 2024-- The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., announced today the launch of its partnership with Ric Flair Drip in Delaware. The signature cannabis brand co-founded by the iconic wrestling World Champion, Ric Flair, is part of Carma HoldCo Inc., a leading global house of brands. Additional markets will follow in 2025.

The Delaware debut of the Ric Flair Drip collection features all-in-one 1-gram vapes and vape cartridges in four curated flavors including: Love Afflair, Mango Mania, Strawberry Strut, and Relaxed AG – which is available exclusively as a cart. Known for its exceptional quality and vibrant flavors, the brand continues to embody the flamboyant personality and iconic lifestyle of its namesake, Ric Flair.

“It’s an amazing and fun opportunity to work with legends like Ric and we’re stoked to kick off this partnership in Delaware just ahead of the market’s launch of adult-use sales later next year. Ric is such a dynamic personality, and his brand is already generating a lot of buzz around the industry,” said Jesse Channon, President, The Cannabist Company. “The continued evolution of our brand partnership model is not only helping to bring new and unique offerings to the market, it also contributes to the expanded production capacity at our top-tier facilities.”

“Let me tell you something, bringing the Ric Flair Drip experience to Delaware is huge, baby!” said Ric Flair, the iconic wrestling World Champion behind the brand. “The Nature Boy is rolling into new markets, styling and profiling across the country. Ric Flair Drip is all about quality, individuality, and being the real deal—just like yours truly! I’m fired up to bring it to Delaware’s cannabis scene and team up with Cannabist to keep this ride going strong. Delaware, get ready to shine bright with the best! Wooooo!”

To find the nearest Cannabist Company dispensary featuring this new partnership, visit https://cannabistcompany.com/locations.

About The Cannabist Company (f/k/a Columbia Care)

The Cannabist Company, formerly known as Columbia Care, is one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 14 U.S. jurisdictions. The Company operates 91 facilities including 71 dispensaries and 20 cultivation and manufacturing facilities, including those under development and assuming the closure of announced divesture transactions. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the Company launched Cannabist, its retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including dreamt, Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. For more information, please visit www.cannabistcompany.com.

About Ric Flair Drip

Ric Flair Drip is a lifestyle-focused product brand co-founded by the iconic wrestling World Champion, Ric Flair. The brand envelops extravagance and pushes people to never settle for mediocrity. With a commitment to quality and style, each product embodies the essence of the styling, profiling, limousine-riding, jet-flying Nature Boy himself. From the initial launch to the brand’s expansion into new markets, Ric Flair Drip is giving everyone the opportunity to live like the legend. For more information visit RicFlairDrip.com.

About Carma HoldCo

Carma HoldCo Inc. is a leading global house of brands that harnesses the power of cultural icons to transform industries. The company focuses on creating unique experiences and product offerings that aim to connect with, inspire, and elevate consumers' lives. Within Carma HoldCo’s talent roster is a lineup of globally recognized superstars, including Mike Tyson, Ric Flair, and Future, who bring their legendary charisma and influence to the forefront of every venture. For more information visit CarmaHoldCo.com.

Caution Concerning Forward-Looking Statements

This press release contains certain statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to the Company’s ability to execute on retail, wholesale, brand and product initiatives in Delaware. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. In addition, security holders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10-K for the year ended December 31, 2023, as filed with Canadian and U.S. securities regulatory authorities and described from time to time in subsequent documents filed with applicable securities regulatory authorities.

News Release image

View source version on businesswire.com: https://www.businesswire.com/news/home/2...912151/en/

Investors
Lee Ann Evans
SVP, Capital Markets
investor@cannabistcompany.com

Media
Mike Moses
Communications Manager
media@cannabistcompany.com

Carma HoldCo
Francesca DeMauro
Carma@KCSA.com

Source: The Cannabist Company Holdings Inc.
https://investors.cannabistcompany.com/n...p-delaware]]> Signature Cannabis Line from Wrestling Icon Ric Flair to Expand Into Additional Markets in 2025
December 19, 2024

---

NEW YORK--(BUSINESS WIRE)--Dec. 19, 2024-- The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., announced today the launch of its partnership with Ric Flair Drip in Delaware. The signature cannabis brand co-founded by the iconic wrestling World Champion, Ric Flair, is part of Carma HoldCo Inc., a leading global house of brands. Additional markets will follow in 2025.

The Delaware debut of the Ric Flair Drip collection features all-in-one 1-gram vapes and vape cartridges in four curated flavors including: Love Afflair, Mango Mania, Strawberry Strut, and Relaxed AG – which is available exclusively as a cart. Known for its exceptional quality and vibrant flavors, the brand continues to embody the flamboyant personality and iconic lifestyle of its namesake, Ric Flair.

“It’s an amazing and fun opportunity to work with legends like Ric and we’re stoked to kick off this partnership in Delaware just ahead of the market’s launch of adult-use sales later next year. Ric is such a dynamic personality, and his brand is already generating a lot of buzz around the industry,” said Jesse Channon, President, The Cannabist Company. “The continued evolution of our brand partnership model is not only helping to bring new and unique offerings to the market, it also contributes to the expanded production capacity at our top-tier facilities.”

“Let me tell you something, bringing the Ric Flair Drip experience to Delaware is huge, baby!” said Ric Flair, the iconic wrestling World Champion behind the brand. “The Nature Boy is rolling into new markets, styling and profiling across the country. Ric Flair Drip is all about quality, individuality, and being the real deal—just like yours truly! I’m fired up to bring it to Delaware’s cannabis scene and team up with Cannabist to keep this ride going strong. Delaware, get ready to shine bright with the best! Wooooo!”

To find the nearest Cannabist Company dispensary featuring this new partnership, visit https://cannabistcompany.com/locations.

About The Cannabist Company (f/k/a Columbia Care)

The Cannabist Company, formerly known as Columbia Care, is one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 14 U.S. jurisdictions. The Company operates 91 facilities including 71 dispensaries and 20 cultivation and manufacturing facilities, including those under development and assuming the closure of announced divesture transactions. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the Company launched Cannabist, its retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including dreamt, Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. For more information, please visit www.cannabistcompany.com.

About Ric Flair Drip

Ric Flair Drip is a lifestyle-focused product brand co-founded by the iconic wrestling World Champion, Ric Flair. The brand envelops extravagance and pushes people to never settle for mediocrity. With a commitment to quality and style, each product embodies the essence of the styling, profiling, limousine-riding, jet-flying Nature Boy himself. From the initial launch to the brand’s expansion into new markets, Ric Flair Drip is giving everyone the opportunity to live like the legend. For more information visit RicFlairDrip.com.

About Carma HoldCo

Carma HoldCo Inc. is a leading global house of brands that harnesses the power of cultural icons to transform industries. The company focuses on creating unique experiences and product offerings that aim to connect with, inspire, and elevate consumers' lives. Within Carma HoldCo’s talent roster is a lineup of globally recognized superstars, including Mike Tyson, Ric Flair, and Future, who bring their legendary charisma and influence to the forefront of every venture. For more information visit CarmaHoldCo.com.

Caution Concerning Forward-Looking Statements

This press release contains certain statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to the Company’s ability to execute on retail, wholesale, brand and product initiatives in Delaware. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. In addition, security holders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10-K for the year ended December 31, 2023, as filed with Canadian and U.S. securities regulatory authorities and described from time to time in subsequent documents filed with applicable securities regulatory authorities.

News Release image

View source version on businesswire.com: https://www.businesswire.com/news/home/2...912151/en/

Investors
Lee Ann Evans
SVP, Capital Markets
investor@cannabistcompany.com

Media
Mike Moses
Communications Manager
media@cannabistcompany.com

Carma HoldCo
Francesca DeMauro
Carma@KCSA.com

Source: The Cannabist Company Holdings Inc.
https://investors.cannabistcompany.com/n...p-delaware]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=51 Sat, 17 Jan 2026 16:41:17 +0000 Jayman]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=51 Nabis Newsroom February 27, 2024

Nevada Operators Gain Access to Nabis’ Expanding Ecosystem and Streamlined Cannabis E-Commerce Platform, Facilitating Opportunities for Brands in a New Key Region

LAS VEGAS--(BUSINESS WIRE)--Nabis, the nation’s leading licensed cannabis wholesale platform, today announces its acquisition of Blackbird, the premier Nevada-based distribution solution. This transition will bring Nabis’ robust technology, infrastructure and exclusive brands to Blackbird’s unparalleled network of Nevada operators and retailers, further strengthening and streamlining efficiencies for operating partners throughout the state’s greater supply chain.

“Blackbird has done an incredible job of supporting Nevada’s strategically important cannabis market for brand building since the state’s legalization in 2016, and we’re honored to continue marching towards our shared vision alongside their team,” said Vince C. Ning, Co-CEO and Co-Founder of Nabis. “As we focus on serving customers nationwide through our platform, we’re looking forward to expanding Blackbird’s resources for customers in Nevada and continuing to foster the strong company culture the team has built.”

Combining Nabis’ leading marketplace and multi-channel fulfillment network with Blackbird’s established expertise in Nevada, this acquisition brings forth a new unified customer experience for cannabis wholesaling in the region. Nabis is now positioned as a centralized software platform for brands and retailers to efficiently conduct commerce, pioneering a one-stop-shop model to address the fragmented wholesaling options that currently exist in the US cannabis industry.

“This strategic partnership brings a powerful synergy to Nevada. It’s a bold step toward a brighter future for our cannabis partners statewide,” said Drea Ballard, Director of Operations at Blackbird. “Nabis shares our commitment of bringing excellence and efficiency to the cannabis supply chain, and we will be working closely with them to elevate our combined strengths.”

Blackbird’s operations and infrastructure currently services approximately 25% of Nevada’s cannabis market, and is a trusted partner for a multitude of reputable brands, operators, and MSOs. Through Nabis’ acquisition, brands will now benefit from a greater investment of resources from the industry’s leading platform. Nabis will bolster existing operations with a dynamic suite of tech tools including comprehensive sales insights and unparalleled payment solutions.

As the top licensed cannabis wholesaling platform, Nabis' acquisition of Blackbird not only strengthens the multi-state supply chain, but also offers operating partners a clear path toward regional expansion into Nevada’s burgeoning market. This opportunity is a pioneering roadmap to capitalize on the connection between two of the country’s most vital cannabis markets: California, the largest legal market in the US, and Nevada, which is ranked 3rd for most visited state in the country with nearly 40 million people visiting the state on an annual basis.

“Blackbird is already an incredibly well-respected player in Nevada's market,” said Ning. “And as Nabis sets its sights on national and potentially international horizons, we’re excited about the combined strengths of this acquisition leading the industry toward a new era of cannabis commerce.”

Learn more about Nabis’ wholesale platform at nabis.com.

‍About Nabis

Nabis is the #1 licensed cannabis wholesale platform, servicing over 300 brands. Founded in 2018 by serial tech entrepreneurs Vince C. Ning and Jun S. Lee, Nabis is on a mission to build the most powerful licensed cannabis wholesale platform with a multi-channel fulfillment network that simplifies cannabis commerce for brands and retailers anywhere in the world. Nabis is the largest licensed wholesaler in the industry, having supported numerous exclusive brands and retailers transact over $1B worth of cannabis products in major states across the nation. As Nabis continues its national expansion, the privately-held multistate operator utilizes its experience in the world’s largest legal cannabis markets and offers its partners an online wholesale marketplace with best-in-class fulfillment, payment processing, financing, data analytics, and sales and marketing services to enable more brands and retailers to innovate, launch, and scale strategically. Ning and Lee’s work earned Nabis a spot on Inc. 5000’s list of Fastest Growing Private Companies in America in 2023. Learn more: nabis.com

https://www.businesswire.com/news/home/2...7423232/en
]]> Nabis Newsroom February 27, 2024

Nevada Operators Gain Access to Nabis’ Expanding Ecosystem and Streamlined Cannabis E-Commerce Platform, Facilitating Opportunities for Brands in a New Key Region

LAS VEGAS--(BUSINESS WIRE)--Nabis, the nation’s leading licensed cannabis wholesale platform, today announces its acquisition of Blackbird, the premier Nevada-based distribution solution. This transition will bring Nabis’ robust technology, infrastructure and exclusive brands to Blackbird’s unparalleled network of Nevada operators and retailers, further strengthening and streamlining efficiencies for operating partners throughout the state’s greater supply chain.

“Blackbird has done an incredible job of supporting Nevada’s strategically important cannabis market for brand building since the state’s legalization in 2016, and we’re honored to continue marching towards our shared vision alongside their team,” said Vince C. Ning, Co-CEO and Co-Founder of Nabis. “As we focus on serving customers nationwide through our platform, we’re looking forward to expanding Blackbird’s resources for customers in Nevada and continuing to foster the strong company culture the team has built.”

Combining Nabis’ leading marketplace and multi-channel fulfillment network with Blackbird’s established expertise in Nevada, this acquisition brings forth a new unified customer experience for cannabis wholesaling in the region. Nabis is now positioned as a centralized software platform for brands and retailers to efficiently conduct commerce, pioneering a one-stop-shop model to address the fragmented wholesaling options that currently exist in the US cannabis industry.

“This strategic partnership brings a powerful synergy to Nevada. It’s a bold step toward a brighter future for our cannabis partners statewide,” said Drea Ballard, Director of Operations at Blackbird. “Nabis shares our commitment of bringing excellence and efficiency to the cannabis supply chain, and we will be working closely with them to elevate our combined strengths.”

Blackbird’s operations and infrastructure currently services approximately 25% of Nevada’s cannabis market, and is a trusted partner for a multitude of reputable brands, operators, and MSOs. Through Nabis’ acquisition, brands will now benefit from a greater investment of resources from the industry’s leading platform. Nabis will bolster existing operations with a dynamic suite of tech tools including comprehensive sales insights and unparalleled payment solutions.

As the top licensed cannabis wholesaling platform, Nabis' acquisition of Blackbird not only strengthens the multi-state supply chain, but also offers operating partners a clear path toward regional expansion into Nevada’s burgeoning market. This opportunity is a pioneering roadmap to capitalize on the connection between two of the country’s most vital cannabis markets: California, the largest legal market in the US, and Nevada, which is ranked 3rd for most visited state in the country with nearly 40 million people visiting the state on an annual basis.

“Blackbird is already an incredibly well-respected player in Nevada's market,” said Ning. “And as Nabis sets its sights on national and potentially international horizons, we’re excited about the combined strengths of this acquisition leading the industry toward a new era of cannabis commerce.”

Learn more about Nabis’ wholesale platform at nabis.com.

‍About Nabis

Nabis is the #1 licensed cannabis wholesale platform, servicing over 300 brands. Founded in 2018 by serial tech entrepreneurs Vince C. Ning and Jun S. Lee, Nabis is on a mission to build the most powerful licensed cannabis wholesale platform with a multi-channel fulfillment network that simplifies cannabis commerce for brands and retailers anywhere in the world. Nabis is the largest licensed wholesaler in the industry, having supported numerous exclusive brands and retailers transact over $1B worth of cannabis products in major states across the nation. As Nabis continues its national expansion, the privately-held multistate operator utilizes its experience in the world’s largest legal cannabis markets and offers its partners an online wholesale marketplace with best-in-class fulfillment, payment processing, financing, data analytics, and sales and marketing services to enable more brands and retailers to innovate, launch, and scale strategically. Ning and Lee’s work earned Nabis a spot on Inc. 5000’s list of Fastest Growing Private Companies in America in 2023. Learn more: nabis.com

https://www.businesswire.com/news/home/2...7423232/en
]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=30 Sun, 20 Jul 2025 20:35:02 +0000 Jayman]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=30 Poseidon
Nov 20, 2024, 09:00 ET
SAN FRANCISCO, Nov. 20, 2024 /PRNewswire/ -- Poseidon Investment Management ("Poseidon" or the "Company"), a leading investment firm in the cannabis industry, today announced the close of a successful $6 million Series A funding round for Distru, the cannabis industry's premier ERP platform. The latest funding round was made possible with the support of Global Founders Capital and marks a pivotal step forward for Distru as it strengthens its status as the premier system-of-record for cannabis operators.

Since its previous funding round led by Felicis with contributions from world class investors Elad Gil and Avichal Garg, Distru has seen significant growth and momentum. They are serving an increasing number of cannabis operators across 25 states and processing over $2 billion in GMV annually. The platform has become indispensable for cannabis businesses by simplifying compliance and inventory management, automating order workflows, and delivering actionable insights through advanced analytics.

"2024 has been a remarkable year for Distru, marked by efficient growth, achieving strong profitability, and significant product expansion through integrations with Metrc Connect, Dutchie, Treez, Blaze, and Leaflink. We are advancing our mission of consolidating cannabis operations under one platform, providing manufacturers, distributors, brands, and vertically integrated operators with a comprehensive toolset that enhances compliance, operational efficiency, and data-driven decision-making." said Blaine Hatab, co-founder and CEO of Distru, adding, "We closed this strategic funding round to pull in Poseidon  with their deep understanding of the cannabis tech sector to support in navigating the next decade of our growth as the most trusted ERP platform in the industry."

The latest round of funding will be directed towards expanding Distru's suite of products, further enhancing compliance, inventory, integration, and order management capabilities. While already profitably growing, the capital will help drive their expansion into 11 additional states, including New York with their Biotrack integration. By consolidating key operational tools into a unified ERP platform, Distru aims to become the backbone of cannabis businesses, empowering the platform to streamline operations, maintain regulatory compliance, and achieve sustainable growth in a complex and evolving market.

Poseidon Investment Management, known for its pioneering investments in the cannabis industry, has long supported technology companies that drive critical infrastructure for this industry. "Distru's clear focus on supporting cannabis operators' success and compliance, coupled with a robust and scalable platform, aligns with our commitment to backing transformative solutions in the sector. They have built the best in class Cannabis ERP and we see that advantage compounding over time," said Morgan Paxhia, Poseidon Investment Management.

Distru is well-positioned to further its vision of becoming an end-to-end platform for the cannabis supply chain, driving digital transformation across cultivation, distribution, and retail. Distru's commitment to operational excellence and industry-specific innovation makes it the ERP of choice for the cannabis industry's most forward-thinking businesses.

About Distru
Distru is a leading seed-to-sale ERP platform for the cannabis industry, offering comprehensive solutions for managing inventory, orders, and customer relations. Trusted by hundreds of licensees across the United States, Distru.com provides best-in-class Metrc integration and exceptional customer support, revolutionizing the way cannabis operators manage their businesses.

SOURCE Poseidon]]> Poseidon
Nov 20, 2024, 09:00 ET
SAN FRANCISCO, Nov. 20, 2024 /PRNewswire/ -- Poseidon Investment Management ("Poseidon" or the "Company"), a leading investment firm in the cannabis industry, today announced the close of a successful $6 million Series A funding round for Distru, the cannabis industry's premier ERP platform. The latest funding round was made possible with the support of Global Founders Capital and marks a pivotal step forward for Distru as it strengthens its status as the premier system-of-record for cannabis operators.

Since its previous funding round led by Felicis with contributions from world class investors Elad Gil and Avichal Garg, Distru has seen significant growth and momentum. They are serving an increasing number of cannabis operators across 25 states and processing over $2 billion in GMV annually. The platform has become indispensable for cannabis businesses by simplifying compliance and inventory management, automating order workflows, and delivering actionable insights through advanced analytics.

"2024 has been a remarkable year for Distru, marked by efficient growth, achieving strong profitability, and significant product expansion through integrations with Metrc Connect, Dutchie, Treez, Blaze, and Leaflink. We are advancing our mission of consolidating cannabis operations under one platform, providing manufacturers, distributors, brands, and vertically integrated operators with a comprehensive toolset that enhances compliance, operational efficiency, and data-driven decision-making." said Blaine Hatab, co-founder and CEO of Distru, adding, "We closed this strategic funding round to pull in Poseidon  with their deep understanding of the cannabis tech sector to support in navigating the next decade of our growth as the most trusted ERP platform in the industry."

The latest round of funding will be directed towards expanding Distru's suite of products, further enhancing compliance, inventory, integration, and order management capabilities. While already profitably growing, the capital will help drive their expansion into 11 additional states, including New York with their Biotrack integration. By consolidating key operational tools into a unified ERP platform, Distru aims to become the backbone of cannabis businesses, empowering the platform to streamline operations, maintain regulatory compliance, and achieve sustainable growth in a complex and evolving market.

Poseidon Investment Management, known for its pioneering investments in the cannabis industry, has long supported technology companies that drive critical infrastructure for this industry. "Distru's clear focus on supporting cannabis operators' success and compliance, coupled with a robust and scalable platform, aligns with our commitment to backing transformative solutions in the sector. They have built the best in class Cannabis ERP and we see that advantage compounding over time," said Morgan Paxhia, Poseidon Investment Management.

Distru is well-positioned to further its vision of becoming an end-to-end platform for the cannabis supply chain, driving digital transformation across cultivation, distribution, and retail. Distru's commitment to operational excellence and industry-specific innovation makes it the ERP of choice for the cannabis industry's most forward-thinking businesses.

About Distru
Distru is a leading seed-to-sale ERP platform for the cannabis industry, offering comprehensive solutions for managing inventory, orders, and customer relations. Trusted by hundreds of licensees across the United States, Distru.com provides best-in-class Metrc integration and exceptional customer support, revolutionizing the way cannabis operators manage their businesses.

SOURCE Poseidon]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=26 Thu, 11 Apr 2024 18:42:32 +0000 Jayman]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=26 Green Unrest: The Cannabis Delivery Driver Strike in California
by Jessica McKeil | Apr 10, 2024

In a landmark action, California’s cannabis delivery drivers, represented by the United Food & Commercial Workers Union, are gearing up for a major strike ahead of the industry’s busiest day, 4/20. This decision highlights the deep-seated issues within delivery, including inadequate mileage reimbursement, low hourly wages, and concerns over safety and benefits.

Labor Conditions at the Heart of Cannabis Delivery Driver Strike
This strike, authorized by the drivers and backed by the United Food & Commercial Workers Union (UFCW), is not a decision made lightly. It follows months of unsuccessful bargaining over critical issues like mileage reimbursement, hourly wages, employee safety, scheduling, and access to affordable benefits.

The strike’s roots can be traced to last year when many local cannabis delivery depots, including the Lincoln location in Venice, voted to join the UFCW Local 770 union. This move was propelled by changes to company policies and working conditions that raised serious concerns about workplace safety and the overall treatment of employees.

The workers’ move to unionize and the subsequent decision to strike underscore a broader narrative of labor rights and workplace safety within the rapidly commercializing cannabis industry.

According to a statement issued by the union:

Eaze/Stachs’ recent offer did not meet the worker’s key objectives, which include raising the mileage reimbursement rate, increasing hourly wages, and ensuring a minimum number of hours. Despite the company’s refusal to give workers what they deserve, the union remains committed to negotiations in the hope of reaching a mutually beneficial agreement and avoiding a work stoppage.

UFCW Local 770
This follows on the heels of three UFCW locals who filed complaints against Eaze/Stachs with the National Labor Relations Board. These cases allege failure to share worker info and unilateral contract modifications, especially with mileage reimbursement. Two complaints were lodged on June 7, with a third by Local 770 on March 25. All are pending resolution.

Worker sentiment is at an all-time low, with many blaming executives for the current challenges. Green Market Report heard from driver Austin Williams, who said, “We are the reason for the company’s profits, and while they’re getting richer, we’re barely scraping by.”

Harmony Roberts, a delivery driver for Eaze/Stachs, explained the situation to The Patch: “It is unacceptable that the company seems to care more about its bottom line than the safety of its employees,” she declared. This opinion is echoed across the state, with over 500 unionized workers voting to authorize the cannabis delivery driver strike

Cannabis Delivery Driver Strike Set to Hit the Biggest Day of the Year

The 420 holiday looms over cannabis delivery drivers strike
As the strike looms, preparations are underway for a sign-making session at the UFCW Local 770 headquarters, signaling the seriousness of the workers’ resolve. This event, expected to draw cannabis workers and their supporters, will not only be a venue for creating picket signs but also for showcasing artistic displays of cannabis culture. It’s a unique blend of protest and celebration of the industry they wish to improve.

All of this is happening as April 20 rapidly approaches. With dispensaries banking on this cannabis holiday to make up a major part of their annual revenue, everyone is watching closely. Cova, a major POS software company, reported in 2022 that retailers made approximately 130 percent more on 420 than on a regular sales day. Headset suggested it was even greater, a 148 percent increase.

Whatever the number, this strike could have far-reaching implications for everyone in the industry if drivers refuse to deliver on the year’s largest cannabis sales day. Brands, dispensaries, and owners could very well see sales slump compared to previous years.

Not to mention the greater impact on labor relations in the industry. A strike may influence how companies across the sector address workers’ rights. It’s a moment ripe for reflection on the balance between profitability and ethical labor practices, serving as a critical test for the cannabis industry’s social responsibility.

Cannabis Delivery Driver Strike Indicating All is Not Well in California
The impending strike is not just a standoff over contractual terms; it’s a critical dialogue about the value and recognition of labor in the cannabis sector. It highlights a growing consciousness among cannabis workers about their rights and a push for a safer, more equitable work environment.

The drivers’ actions could set a precedent for labor practices across the industry, emphasizing the importance of worker safety, fair compensation, and respect for the individuals who are the backbone of the cannabis supply chain. This strike could have far-reaching implications — not just for Eaze but for the rest of California’s brands and dispensaries banking on 420 sales.


Jessica McKeil is a cannabis writer and B2B content marketer living in British Columbia, Canada. Her focus on cannabis tech, scientific breakthroughs, and extraction has led to bylines with Cannabis & Tech Today, Terpenes and Testing, Analytical Cannabis, and Grow Mag among others. She is the owner and lead-writer of Sea to Sky Content, which provides content and strategy to the industry’s biggest brands.]]> Green Unrest: The Cannabis Delivery Driver Strike in California
by Jessica McKeil | Apr 10, 2024

In a landmark action, California’s cannabis delivery drivers, represented by the United Food & Commercial Workers Union, are gearing up for a major strike ahead of the industry’s busiest day, 4/20. This decision highlights the deep-seated issues within delivery, including inadequate mileage reimbursement, low hourly wages, and concerns over safety and benefits.

Labor Conditions at the Heart of Cannabis Delivery Driver Strike
This strike, authorized by the drivers and backed by the United Food & Commercial Workers Union (UFCW), is not a decision made lightly. It follows months of unsuccessful bargaining over critical issues like mileage reimbursement, hourly wages, employee safety, scheduling, and access to affordable benefits.

The strike’s roots can be traced to last year when many local cannabis delivery depots, including the Lincoln location in Venice, voted to join the UFCW Local 770 union. This move was propelled by changes to company policies and working conditions that raised serious concerns about workplace safety and the overall treatment of employees.

The workers’ move to unionize and the subsequent decision to strike underscore a broader narrative of labor rights and workplace safety within the rapidly commercializing cannabis industry.

According to a statement issued by the union:

Eaze/Stachs’ recent offer did not meet the worker’s key objectives, which include raising the mileage reimbursement rate, increasing hourly wages, and ensuring a minimum number of hours. Despite the company’s refusal to give workers what they deserve, the union remains committed to negotiations in the hope of reaching a mutually beneficial agreement and avoiding a work stoppage.

UFCW Local 770
This follows on the heels of three UFCW locals who filed complaints against Eaze/Stachs with the National Labor Relations Board. These cases allege failure to share worker info and unilateral contract modifications, especially with mileage reimbursement. Two complaints were lodged on June 7, with a third by Local 770 on March 25. All are pending resolution.

Worker sentiment is at an all-time low, with many blaming executives for the current challenges. Green Market Report heard from driver Austin Williams, who said, “We are the reason for the company’s profits, and while they’re getting richer, we’re barely scraping by.”

Harmony Roberts, a delivery driver for Eaze/Stachs, explained the situation to The Patch: “It is unacceptable that the company seems to care more about its bottom line than the safety of its employees,” she declared. This opinion is echoed across the state, with over 500 unionized workers voting to authorize the cannabis delivery driver strike

Cannabis Delivery Driver Strike Set to Hit the Biggest Day of the Year

The 420 holiday looms over cannabis delivery drivers strike
As the strike looms, preparations are underway for a sign-making session at the UFCW Local 770 headquarters, signaling the seriousness of the workers’ resolve. This event, expected to draw cannabis workers and their supporters, will not only be a venue for creating picket signs but also for showcasing artistic displays of cannabis culture. It’s a unique blend of protest and celebration of the industry they wish to improve.

All of this is happening as April 20 rapidly approaches. With dispensaries banking on this cannabis holiday to make up a major part of their annual revenue, everyone is watching closely. Cova, a major POS software company, reported in 2022 that retailers made approximately 130 percent more on 420 than on a regular sales day. Headset suggested it was even greater, a 148 percent increase.

Whatever the number, this strike could have far-reaching implications for everyone in the industry if drivers refuse to deliver on the year’s largest cannabis sales day. Brands, dispensaries, and owners could very well see sales slump compared to previous years.

Not to mention the greater impact on labor relations in the industry. A strike may influence how companies across the sector address workers’ rights. It’s a moment ripe for reflection on the balance between profitability and ethical labor practices, serving as a critical test for the cannabis industry’s social responsibility.

Cannabis Delivery Driver Strike Indicating All is Not Well in California
The impending strike is not just a standoff over contractual terms; it’s a critical dialogue about the value and recognition of labor in the cannabis sector. It highlights a growing consciousness among cannabis workers about their rights and a push for a safer, more equitable work environment.

The drivers’ actions could set a precedent for labor practices across the industry, emphasizing the importance of worker safety, fair compensation, and respect for the individuals who are the backbone of the cannabis supply chain. This strike could have far-reaching implications — not just for Eaze but for the rest of California’s brands and dispensaries banking on 420 sales.


Jessica McKeil is a cannabis writer and B2B content marketer living in British Columbia, Canada. Her focus on cannabis tech, scientific breakthroughs, and extraction has led to bylines with Cannabis & Tech Today, Terpenes and Testing, Analytical Cannabis, and Grow Mag among others. She is the owner and lead-writer of Sea to Sky Content, which provides content and strategy to the industry’s biggest brands.]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=25 Wed, 06 Mar 2024 00:50:31 +0000 CPR]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=25 19-year-old who was quarter mile away from fiery explosion killed by flying canister: Michigan officials
The fiery explosion was at a vaping distributing company in Clinton Township.

ByEmily Shapiro
March 5, 2024, 2:02 PM
A 19-year-old who was a quarter mile away from a fiery explosion in Michigan was struck in the head and killed by a canister that flew into the air from the blast, according to fire officials.

Butane containers caught fire Monday night at a vaping distributing company in Clinton Township, about 25 miles outside of Detroit, the Clinton Fire Department said.

Clinton Township Fire Chief Tim Duncan described it as a "tremendous amount of fire."

"In my 25 years ... this, by far, was the biggest one that I've ever seen," Duncan told reporters Tuesday morning.

The blast sent debris -- including blades -- flying into the air, officials said. The debris field was likely a half-mile in each direction, officials said.

The firefighter has been treated and released from the hospital, Brouwer said.

Clinton Township police warned Monday night, "We can not stress enough the danger that is happening right now. Please, please, please stay inside and out of the vicinity. Debris is being projected into the air and coming down as far as a mile away from the explosion."

Residents and businesses in the area were evacuated, police said.

Macomb County Executive Mark Hackel said at a news conference, "Our thoughts and prayers and sadness to the family, friends and loved ones and the community of the loss of the life of the 19-year-old out in the street that got hit by one of those pieces of shrapnel."

"Just walking the streets and getting hit by something like that, completely unexpected," Hackel said. "And I couldn't think of anything sadder as an outcome for this particular situation."

Hackel added, "If you happen to see something that looks concerning to you, please don't touch it, don't pick it up. When in doubt, give us a call and we'll check it out for you to make sure that nobody else gets harmed."

Officials said the business owners and staff associated with the explosion have been "very cooperative" and "forthright" in the ongoing investigation. Police are continuing to question the owner and staff members to determine what occurred.

The store passed inspection in May 2022 and obtained their certificate of occupancy in September 2022, officials said.

The store had a backroom to store products, and "at the time of inspection there, there were no canisters," Clinton Township building inspector Barry Miller said. "There are allowable quantities for certain things you can put in those rooms -- they did not exceed any of those quantities. Obviously with what happened last night, they were well over what would have been allowable for that for that site."

Since 2022, "nobody from the township has been in that building for the purpose of inspections," Miller said.

Investigators said they are working to identify quantities of canisters and other materials on-site to determine if any codes were broken.

  explosion-3-ht-bb-240305_1709648207826_hpEmbed_9x5.png (Size: 4.28 MB / Downloads: 0)

  detroit-explosion-wxyz-mo-20240305_1709647591654_hpMain.png (Size: 4.85 MB / Downloads: 0)

  explosion-1-ht-bb-240305_1709647418779_hpMain_16x9_1.png (Size: 4.5 MB / Downloads: 0) ]]> 19-year-old who was quarter mile away from fiery explosion killed by flying canister: Michigan officials
The fiery explosion was at a vaping distributing company in Clinton Township.

ByEmily Shapiro
March 5, 2024, 2:02 PM
A 19-year-old who was a quarter mile away from a fiery explosion in Michigan was struck in the head and killed by a canister that flew into the air from the blast, according to fire officials.

Butane containers caught fire Monday night at a vaping distributing company in Clinton Township, about 25 miles outside of Detroit, the Clinton Fire Department said.

Clinton Township Fire Chief Tim Duncan described it as a "tremendous amount of fire."

"In my 25 years ... this, by far, was the biggest one that I've ever seen," Duncan told reporters Tuesday morning.

The blast sent debris -- including blades -- flying into the air, officials said. The debris field was likely a half-mile in each direction, officials said.

The firefighter has been treated and released from the hospital, Brouwer said.

Clinton Township police warned Monday night, "We can not stress enough the danger that is happening right now. Please, please, please stay inside and out of the vicinity. Debris is being projected into the air and coming down as far as a mile away from the explosion."

Residents and businesses in the area were evacuated, police said.

Macomb County Executive Mark Hackel said at a news conference, "Our thoughts and prayers and sadness to the family, friends and loved ones and the community of the loss of the life of the 19-year-old out in the street that got hit by one of those pieces of shrapnel."

"Just walking the streets and getting hit by something like that, completely unexpected," Hackel said. "And I couldn't think of anything sadder as an outcome for this particular situation."

Hackel added, "If you happen to see something that looks concerning to you, please don't touch it, don't pick it up. When in doubt, give us a call and we'll check it out for you to make sure that nobody else gets harmed."

Officials said the business owners and staff associated with the explosion have been "very cooperative" and "forthright" in the ongoing investigation. Police are continuing to question the owner and staff members to determine what occurred.

The store passed inspection in May 2022 and obtained their certificate of occupancy in September 2022, officials said.

The store had a backroom to store products, and "at the time of inspection there, there were no canisters," Clinton Township building inspector Barry Miller said. "There are allowable quantities for certain things you can put in those rooms -- they did not exceed any of those quantities. Obviously with what happened last night, they were well over what would have been allowable for that for that site."

Since 2022, "nobody from the township has been in that building for the purpose of inspections," Miller said.

Investigators said they are working to identify quantities of canisters and other materials on-site to determine if any codes were broken.

  explosion-3-ht-bb-240305_1709648207826_hpEmbed_9x5.png (Size: 4.28 MB / Downloads: 0)

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  explosion-1-ht-bb-240305_1709647418779_hpMain_16x9_1.png (Size: 4.5 MB / Downloads: 0) ]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=24 Wed, 06 Mar 2024 00:42:50 +0000 CPR]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=24 One person killed after huge fire ignites Michigan warehouse, raining debris 'as far as a mile away,' police say.
A 19-year-old man about a quarter-mile down the road suffered a fatal injury from a flying canister, said an official in Clinton Township, a suburb north of Detroit.

March 5, 2024, 4:27 AM PST / Updated March 5, 2024, 3:51 PM PST
By Dennis Romero, Minyvonne Burke, Adrienne Broaddus and Patrick Smith
A man was killed after an enormous fire Monday night at a suburban Detroit warehouse, known to stock combustible materials, ignited explosions, shook homes and rained down debris as far as a mile away, officials and residents said.

Authorities on Tuesday evening appeared to be focused on butane and nitrous oxide canisters they said were stored illegally at the warehouse in Clinton Township, which housed a distributor of vaporizer pens, smoke shop items and convenience and dollar store goods.

"We know they were not allowed to have these canisters," Paul S. Brouwer, the township's emergency management coordinator, said at a news conference Tuesday night. "They were not permitted to have them in this building."

The 19-year-old man who was killed has not been publicly identified. He was at a nearby car wash, possibly observing the commotion, as canisters rained on the community even after the explosion was reported at 8:50 p.m., officials said.

Officials said the man was hit in the head and taken to the hospital, where he died.

Clinton Township Fire Chief Tim Duncan said firefighters had trouble accessing the building “due to the hundreds, if not thousands of explosions.”

First-responder vehicles rushing to the scene were struck by canisters, he said. Officials earlier said at least some of the canisters measured 12 inches.

"We had a number of fire engines and police vehicles that were hit," Duncan said. "Somebody was looking out for us."

A firefighter was injured by debris that flew through his windshield and struck him in the face, officials said. The firefighter was treated at the hospital and released.

Canisters have been discovered as far as 2 miles away, with officials saying 25 had been collected by early Tuesday evening. They said residents had been seen collecting them, possibly as souvenirs, and warned that the items were potentially explosive and deadly.

Everyone at the warehouse, where some workers assigned to the business' web-based sales were working, evacuated safety, officials said.

Emergency services were called at 8:50 p.m. to the warehouse, which housed the vape wholesale business Select Distributors and a vape and nitrous oxide brand under a wholesaler called Goo.

On its website, Select Distributors says it supplies novelty items and phone accessories to dollar stores and that it sells vape products, nitrous oxide and CBD oils. Goo calls itself a smoke shop and says it and sells tobacco, smoking paraphernalia and other items, according to NBC affiliate WDIV of Detroit.

Select Distributors' website says it sells butane wholesale, in boxes that contain 12 to 20 canisters, with some of the canisters containing 10 ounces of gas.

The volatile gas is used to refill lighters, but it's also popular with often-illegal cannabis concentrate makers who spray butane into cylinders packed with marijuana to extract butane hash oil, the core of concentrated cannabis products that can pack potent highs when smoked, vaped or eaten.

The process has resulted in countless explosions, often involving illicit home labs.

The distributor also openly sells nitrous oxide, which is largely unregulated. It is not a Drug Enforcement Administration scheduled drug, and the Food and Drug Administration has approved it as a prescribed medication and as a propellant and aerator in dairy products, mainly whipped cream. Goo brands a nitrous product called Power Hitter, according to the Select Distributors website.

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The gas, sometimes sold for recreational use at vape shops and adult bookstores, can also be explosive. Its use as an oxygenator in rocketry was connected to a 2007 accident at a facility at Mojave Air and Space Port in California that killed three people. That year in suburban Detroit, a suspect described as a distributor of recreational nitrous oxide was successfully prosecuted for improperly labeling nitrous oxide cylinders.

In Clinton Township, two business owners were taken to the police department Monday night and interviewed by the fire prevention division and the Bureau of Alcohol, Tobacco, Firearms and Explosives, Duncan said.

Witnesses affiliated with Select Distributors were cooperating with investigators, officials said at Tuesday evening's news conference. The company did not immediately respond to a request for comment.

Duncan told reporters that the business had recently received a semi-load of butane containers and had “over half of that still left.” There were also pallets of nitrous, lighter fluid and over 100,000 vape pens that had lithium batteries inside them, he said.

Barry Miller, the township superintendent for building inspections, said at Tuesday night's news conference that the location was the subject of one recent violation — improper storage of duck boats — which was corrected under a township warning. "We didn't know the canisters were on-site," he said.

WDIV reported that it received calls from viewers who said they heard explosions as far away as the town of Troy, 15 miles to the west, in neighboring Oakland County. Clinton Township is in Macomb County.

Some callers said items inside their homes rattled and shook from the vibrations.

Eyewitnesses captured the scene from afar and posted video to social media with the sound of multiple, sustained explosions as projectiles shot out into the sky. One person said the explosions continued for more than half an hour.

A witness, Marie Ainsworth, said she had just sat down in her basement when she felt "the whole world, Earth shaking."

"I didn’t know if we were at war," she said.

When Ainsworth went outside, she saw thick smoke billowing in the air.

"It was pretty bad, and it was scary," she said. "It never stopped. It never stopped. The explosions never stopped."

Clinton Township Supervisor Robert Cannon told reporters that he lives 5 ½ miles away and that the explosion sounded like "thunder right over our home."

"That's 5 ½ miles away, so think about the people that were near the site," he said. "It was horrible. The ground was shaking. Our trucks were going to the site and the trucks were shaking. That's how bad it was."

Duncan said the warehouse was almost completely burned down. The property was fenced off, and authorities continued to scour a 2-mile radius for debris, officials said.

Officials initially told residents to stay inside with their windows closed. A Macomb County hazmat team monitored the air Monday night "with negative results, so the air is fine," said Brouwer, the emergency management coordinator. He said the water was also "absolutely perfect."]]> One person killed after huge fire ignites Michigan warehouse, raining debris 'as far as a mile away,' police say.
A 19-year-old man about a quarter-mile down the road suffered a fatal injury from a flying canister, said an official in Clinton Township, a suburb north of Detroit.

March 5, 2024, 4:27 AM PST / Updated March 5, 2024, 3:51 PM PST
By Dennis Romero, Minyvonne Burke, Adrienne Broaddus and Patrick Smith
A man was killed after an enormous fire Monday night at a suburban Detroit warehouse, known to stock combustible materials, ignited explosions, shook homes and rained down debris as far as a mile away, officials and residents said.

Authorities on Tuesday evening appeared to be focused on butane and nitrous oxide canisters they said were stored illegally at the warehouse in Clinton Township, which housed a distributor of vaporizer pens, smoke shop items and convenience and dollar store goods.

"We know they were not allowed to have these canisters," Paul S. Brouwer, the township's emergency management coordinator, said at a news conference Tuesday night. "They were not permitted to have them in this building."

The 19-year-old man who was killed has not been publicly identified. He was at a nearby car wash, possibly observing the commotion, as canisters rained on the community even after the explosion was reported at 8:50 p.m., officials said.

Officials said the man was hit in the head and taken to the hospital, where he died.

Clinton Township Fire Chief Tim Duncan said firefighters had trouble accessing the building “due to the hundreds, if not thousands of explosions.”

First-responder vehicles rushing to the scene were struck by canisters, he said. Officials earlier said at least some of the canisters measured 12 inches.

"We had a number of fire engines and police vehicles that were hit," Duncan said. "Somebody was looking out for us."

A firefighter was injured by debris that flew through his windshield and struck him in the face, officials said. The firefighter was treated at the hospital and released.

Canisters have been discovered as far as 2 miles away, with officials saying 25 had been collected by early Tuesday evening. They said residents had been seen collecting them, possibly as souvenirs, and warned that the items were potentially explosive and deadly.

Everyone at the warehouse, where some workers assigned to the business' web-based sales were working, evacuated safety, officials said.

Emergency services were called at 8:50 p.m. to the warehouse, which housed the vape wholesale business Select Distributors and a vape and nitrous oxide brand under a wholesaler called Goo.

On its website, Select Distributors says it supplies novelty items and phone accessories to dollar stores and that it sells vape products, nitrous oxide and CBD oils. Goo calls itself a smoke shop and says it and sells tobacco, smoking paraphernalia and other items, according to NBC affiliate WDIV of Detroit.

Select Distributors' website says it sells butane wholesale, in boxes that contain 12 to 20 canisters, with some of the canisters containing 10 ounces of gas.

The volatile gas is used to refill lighters, but it's also popular with often-illegal cannabis concentrate makers who spray butane into cylinders packed with marijuana to extract butane hash oil, the core of concentrated cannabis products that can pack potent highs when smoked, vaped or eaten.

The process has resulted in countless explosions, often involving illicit home labs.

The distributor also openly sells nitrous oxide, which is largely unregulated. It is not a Drug Enforcement Administration scheduled drug, and the Food and Drug Administration has approved it as a prescribed medication and as a propellant and aerator in dairy products, mainly whipped cream. Goo brands a nitrous product called Power Hitter, according to the Select Distributors website.

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The gas, sometimes sold for recreational use at vape shops and adult bookstores, can also be explosive. Its use as an oxygenator in rocketry was connected to a 2007 accident at a facility at Mojave Air and Space Port in California that killed three people. That year in suburban Detroit, a suspect described as a distributor of recreational nitrous oxide was successfully prosecuted for improperly labeling nitrous oxide cylinders.

In Clinton Township, two business owners were taken to the police department Monday night and interviewed by the fire prevention division and the Bureau of Alcohol, Tobacco, Firearms and Explosives, Duncan said.

Witnesses affiliated with Select Distributors were cooperating with investigators, officials said at Tuesday evening's news conference. The company did not immediately respond to a request for comment.

Duncan told reporters that the business had recently received a semi-load of butane containers and had “over half of that still left.” There were also pallets of nitrous, lighter fluid and over 100,000 vape pens that had lithium batteries inside them, he said.

Barry Miller, the township superintendent for building inspections, said at Tuesday night's news conference that the location was the subject of one recent violation — improper storage of duck boats — which was corrected under a township warning. "We didn't know the canisters were on-site," he said.

WDIV reported that it received calls from viewers who said they heard explosions as far away as the town of Troy, 15 miles to the west, in neighboring Oakland County. Clinton Township is in Macomb County.

Some callers said items inside their homes rattled and shook from the vibrations.

Eyewitnesses captured the scene from afar and posted video to social media with the sound of multiple, sustained explosions as projectiles shot out into the sky. One person said the explosions continued for more than half an hour.

A witness, Marie Ainsworth, said she had just sat down in her basement when she felt "the whole world, Earth shaking."

"I didn’t know if we were at war," she said.

When Ainsworth went outside, she saw thick smoke billowing in the air.

"It was pretty bad, and it was scary," she said. "It never stopped. It never stopped. The explosions never stopped."

Clinton Township Supervisor Robert Cannon told reporters that he lives 5 ½ miles away and that the explosion sounded like "thunder right over our home."

"That's 5 ½ miles away, so think about the people that were near the site," he said. "It was horrible. The ground was shaking. Our trucks were going to the site and the trucks were shaking. That's how bad it was."

Duncan said the warehouse was almost completely burned down. The property was fenced off, and authorities continued to scour a 2-mile radius for debris, officials said.

Officials initially told residents to stay inside with their windows closed. A Macomb County hazmat team monitored the air Monday night "with negative results, so the air is fine," said Brouwer, the emergency management coordinator. He said the water was also "absolutely perfect."]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=13 Mon, 15 Jan 2024 20:53:29 +0000 Cannabis Press Releases]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=13 NxGen Brands, Inc. Proudly Announces the Successful Closing of "Mad House Innovations" Acquisition


January 09, 2024 8:12 AM EST | Source: NxGen Brands Inc
Denver, Colorado--(Newsfile Corp. - January 9, 2024) - NxGen Brands, Inc. (OTC Pink: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) successfully closes its "Mad House Innovations" acquisition. Mad House enjoyed explosive growth in 2023 and we invite the investment community to visit their corporate website to familiarize themselves with their exciting brand: "Mad House Innovations" (www.madhousesupps.com)
Mad House enjoyed $1m in revenues in its initial full year of operations, with growth forecasts from the Company expected to exponentially exceed that in 2024. Revenue share from direct-to-consumer channels represents approximately 35% of total sales, with additional revenue generated from ever-expanding distribution and retail relationships. The company believes that their cutting edge direct-to-consumer business model can be grown significantly throughout 2024 with the addition of marketing capital that NxGen is forecast to spend.
The Company recently announced that Mad House had licensed its products throughout Australia and New Zealand in a deal that is expected to net significant revenues this year as the brand picks up recognition throughout that market with its now emerging and very distinctive branding.
Joseph Lawanson, CEO of NxGen, stated, "Our brand boasts products such as 'High dosed Pre-workout', incredibly effective Amino's, high-end testosterone, hardcore pump product and a great fat burner to provide you with an idea of our exciting product suite. With our now established presence in direct-to-consumer market as well as some of the top brick and mortar stores, we know that we can help the brand grow even more than it already has. We targeted a brand that is now firmly established in an upward trajectory, has a great social media following and can be blown up through social media advertising on Instagram™, TikTok™ and Facebook™. I am very excited to take this brand to the next level and I cannot wait to start sharing our month-over-month revenue growth with shareholders."
NxGen recently announced that it had already completed on its first roll-up by acquiring 'Storm Lifestyle Brands' (www.stormlifestylebrands.com) which was launched in October 2021 to great fanfare at Olympia and has since gone from strength to strength with its Pre-Workout, Burn, Revive and Focus products. This new acquisition, the Company believes, will fit in to a different but equally fast-growing demographic and will, therefore, be a superb fit.
About NxGen Brands, Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company is building a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.com https://twitter.com/NxGen_Brands
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of NxGen Brands, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of NxGen, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on NxGen's future results. The forward-looking statements included in this press release are made only as of the date hereof. NxGen cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, NxGen undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by NxGen.
Corporate Contact:
ceo@nxgenbrands.com
www.nxgenbrands.com
SOURCE: NxGen Brands Inc]]> NxGen Brands, Inc. Proudly Announces the Successful Closing of "Mad House Innovations" Acquisition


January 09, 2024 8:12 AM EST | Source: NxGen Brands Inc
Denver, Colorado--(Newsfile Corp. - January 9, 2024) - NxGen Brands, Inc. (OTC Pink: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com) successfully closes its "Mad House Innovations" acquisition. Mad House enjoyed explosive growth in 2023 and we invite the investment community to visit their corporate website to familiarize themselves with their exciting brand: "Mad House Innovations" (www.madhousesupps.com)
Mad House enjoyed $1m in revenues in its initial full year of operations, with growth forecasts from the Company expected to exponentially exceed that in 2024. Revenue share from direct-to-consumer channels represents approximately 35% of total sales, with additional revenue generated from ever-expanding distribution and retail relationships. The company believes that their cutting edge direct-to-consumer business model can be grown significantly throughout 2024 with the addition of marketing capital that NxGen is forecast to spend.
The Company recently announced that Mad House had licensed its products throughout Australia and New Zealand in a deal that is expected to net significant revenues this year as the brand picks up recognition throughout that market with its now emerging and very distinctive branding.
Joseph Lawanson, CEO of NxGen, stated, "Our brand boasts products such as 'High dosed Pre-workout', incredibly effective Amino's, high-end testosterone, hardcore pump product and a great fat burner to provide you with an idea of our exciting product suite. With our now established presence in direct-to-consumer market as well as some of the top brick and mortar stores, we know that we can help the brand grow even more than it already has. We targeted a brand that is now firmly established in an upward trajectory, has a great social media following and can be blown up through social media advertising on Instagram™, TikTok™ and Facebook™. I am very excited to take this brand to the next level and I cannot wait to start sharing our month-over-month revenue growth with shareholders."
NxGen recently announced that it had already completed on its first roll-up by acquiring 'Storm Lifestyle Brands' (www.stormlifestylebrands.com) which was launched in October 2021 to great fanfare at Olympia and has since gone from strength to strength with its Pre-Workout, Burn, Revive and Focus products. This new acquisition, the Company believes, will fit in to a different but equally fast-growing demographic and will, therefore, be a superb fit.
About NxGen Brands, Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company is building a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.com https://twitter.com/NxGen_Brands
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of NxGen Brands, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of NxGen, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on NxGen's future results. The forward-looking statements included in this press release are made only as of the date hereof. NxGen cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, NxGen undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by NxGen.
Corporate Contact:
ceo@nxgenbrands.com
www.nxgenbrands.com
SOURCE: NxGen Brands Inc]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=12 Mon, 15 Jan 2024 20:51:55 +0000 Cannabis Press Releases]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=12 Red Light Holland Receives Building Permit for AEM Farms 80,000 Square Foot Mushroom Farm, Adding Substantial Future Production Capacity
New multi million dollar production facility will increase AEM Farm's mushroom production output by approximately 15-18 million dollars of domestic and international annual sales, create jobs in Peterborough, Ontario


January 15, 2024 8:00 AM EST | Source: Red Light Holland Corp.
Toronto, Ontario--(Newsfile Corp. - January 15, 2024) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) ("Red Light Holland" or the "Company"), an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, is extremely pleased to announce that their portfolio company, AEM Farms in Peterborough ("AEM Peterborough"), has received its building permit from the Township of Cavan-Monaghan permitting it to build an 80,000 square foot state of the art vertical exotic mushroom farm and composting facility. With this permit, Red Light Holland predicts the facility will be able to produce more than 15,000 tons of mushroom compost annually, leading to more than 7,500,000 pounds of fresh mushrooms per year. The Farm build is expected to commence immediately, with the goal of it being completed by the Fall of 2024.
Developed in collaboration with Mike Medeiros (President of Mushrooms Canada and Director of the Canadian Federation of Agriculture) and Fernando Medeiros from Carleton Mushroom Farms, plus Tonia Furlano, Nick Furlano and Steven Rotiroti (Directors of the Canadian Mushroom Growers Association) of Holburne Mushroom Farm and F&R Mushroom Farm, operating under Red Light's flagship farming brand, AEM Farms, the facility will support the Company's global and local operations with high quality, large-scale exotic mushroom production capabilities that will serve the needs of high-in-demand fresh, organic and Canadian made exotic mushroom growth in Canada and the United States.
"Peterborough is a wonderfully supportive agriculture community and we are excited to work closely with the township of Cavan-Monaghan as construction of our facility immediately commences. We are clearly excited to receive the Building Permit for AEM's expanded 80,000 square foot facility and we believe our projected future enterprise value of the farm alone will be a benefit for Red Light Holland and its investors. We will leverage our existing operational expertise to ensure we support the needs of our customers across both Canada and the United States," said Todd Shapiro, CEO and Director of Red Light Holland.
A note from our CEO:
"We remain absolutely committed at Red Light (and I say this loudly!) to continue growing the psychedelic side of our business. We are using our continuous source of data collection through customer psilocybin usage from our Netherland's farm grown products (iMicrodose and Maka) which are then sold by our distribution company (SR Wholesale) to advocate for wider spread legalization. We are proud of our self-regulatory mandates as we impact change. As well, we are advancing R&D of our micordosing homogenized capsules with CCrest Labs in Canada, with the aim of receiving a 5th psilocybin Health Canada import license with the ultimate goal of providing access for those in need. In the Netherlands, our magic truffle Farm had a record year in sales and we remain focused on increasing both magic truffle production and sales including our efforts of increased sales in our Mush Room and More retail shops in OSS and Utrecht. I wouldn't be surprised, when comparing Red Light to any other publicly traded company in the world, that we probably have grown and sold more psilocybin than any of them - as we educate and support our clients, with our responsible use policy, telecounseling availability and community events," added Shapiro.
"Mushrooms continue to be hot. Our holistic approach, infrastructure, distribution channels, consumer packaged goods, retail experience and overall farming knowledge positions us to be leaders in these growing categories for both legal consumption and health and wellness. At the end of the day whether you're a shiitake, an oyster, a lion's mane mushroom or a psilocybin based mushroom - the science is proving there are benefits for both mind and body health. We are proud to merge the mycelium network together to end stigmas and focus on help and positive change in the future through psilocybin microdosing capsules but with clear immediate goals of increased sales, increased revenue growth and increased shareholder value due to our current business strategy, hard work and unified vision," concluded Shapiro.
Current and Future Updates:
In the near future, Red Light Holland looks forward to sharing details and updates regarding:

• Red Light's partnership with CCrest Labs and NUBU Pharmaceuticals in Australia and New Zealand as the company continues to aim to import more psilocybin from the Netherlands with the goal of producing Homogenized naturally-occurring psilocybin microdosing capsules for emerging markets
  
  
• Red Light's psychedelic division; including increasing production and output in the Company's Magic Truffle Farm in Horst, the Netherlands
  
  
• Red Light's distribution company, currently selling magic truffles to over 200 smart shops across the Netherlands
  
  
• Red Light's Mushroom Home Grow Kit division including increased orders last quarter for both of their owned brands - Happy Caps in North America (over 150 retailers) and Mini-Champ in Europe. Updates for Mistercap LLC to come as well
  
  
• The launch of Red Light's Mushroom Brokerage sales division, lead by Senior VP of Sales, focused on fresh mushroom sales across North America with the goal of immediately increasing revenues
  
  
• AEM New Brunswick Farm producing shiitake mushrooms which are distributed to 47 Farm Boy stores across Ontario and are also available in over 100 retail stores in Eastern Canada, including Loblaws owned retailers in Ottawa; Costco locations in both Ottawa and Gatineau; and Whole Foods Markets in Ottawa and the consideration of potential retrofits and investment to converting AEM New Brunswick to a cGMP-grade CDS Licensed mushroom cultivation facility (working with hired consultants Cannabis Licensing Experts)
  
  
• AEM Peterborough Farm construction progress updates
  

From the beginning, Red Light has and will continue to make significant investments to scale its business in Canada and globally, including building corporate capabilities, developing production infrastructure, consider both M&A activity in both the exotic and psychedelic mushroom sectors and investing in the marketing and development of new value-added consumer products for both the recreational exotic mushroom and potential future psilocybin mushroom markets.
Red Light's total assets as at September 30, 2023: $28.2 million including $16.4 million of cash and cash equivalents and the company has been putting its excess cash to good use through government issued GICs, taking advantage of the current market interest rates to increase our return on investment related to these funds.
Research regarding health benefits of mushrooms:
https://docs.google.com/document/d/14G4lazUQIg3CtgUscJKK72_S5FQ8VAKKcql2386K9D4/edit?usp=sharing
About Carleton Mushroom Farms
Carleton Mushroom Farms, located in Osgoode, Ontario, was founded in 1984 by Mike and Fernando Medeiros' parents and remains a family run business. Mike and Fernando took over day to day operations in 2005. In recent years growing capacity has tripled, and yields have steadily increased to 12 million pounds per year. Carleton Mushroom Farms implements cutting edge technologies from around the world as part of their growing practices. Website: www.carletonmushroom.com.
About Holburne Mushroom Farm
Holburne Mushroom Farm, located in Greenwood, Ontario, is a local family owned and operated business that specializes in growing fresh, organic Shiitake and Oyster Mushrooms since 2005. Production of Organic Shiitake and Oyster Mushrooms has steadily increased to current yield of 1.3 million pounds per year. Proudly, the largest fresh, Organic Shiitake Mushroom growers in Canada. Website: www.holburnemushroom.ca.
About Red Light Holland
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws.
For additional information:
Todd Shapiro
Chief Executive Officer and Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.redlight.co
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's future growth prospects and intentions to pursue one or more viable business opportunities; the development of the Company's business and future activities following the date hereof; advancing the Company's microdosing homogenized capsules with CCrest Labs; advocate for wider spread legalization and/or immediate access for those in need; focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's plans to positions itself to be leaders in growing categories for legal consumption and health and wellness; the Company's plans to merge the mycelium network together to end stigmas related there to; the Company's on being a part of the positive change in the future through psilocybin macrodosing capsules; the Company's goals of increased sales, increased revenue growth; and the Company will share details and updates of the foregoing as stated.
Forward-Looking information in this press release are based on certain assumptions and expected future events, namely: current and future members of management's ability to abide by the Company's business objectives and strategies from time to time established by the Company; the Company's ability to achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company's ability to carry out its performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's ability to carry out its future growth prospects and intentions to pursue one or more viable business opportunities; the Company's ability to carry out its development of the Company's business and future activities following the date hereof; the Company's ability to continue advancing the Company's microdosing homogenized capsules with CCrest Labs; the Company's ability to continue its commitment to advocate for wider spread legalization and/or immediate access for those in need; the Company's ability to remain focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's ability to realize upon its plans to position itself to be leaders in growing categories for legal consumption and health and wellness; the Company's ability to realize its plans to merge the mycelium network together to end stigmas related thereto; the Company's ability to be a part of the positive change in the future through psilocybin macrodosing capsules; the Company's ability to execute upon its plans of goals of increased sales, increased revenue growth; and the Company's ability to share details and updates of the foregoing as stated.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: current and future members of management's inability to abide by the Company's business objectives and strategies from time to time established by the Company; the Company's inability to achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company's inability to carry out its performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's inability to carry out its future growth prospects and intentions to pursue one or more viable business opportunities; the Company's inability to carry out its development of the Company's business and future activities following the date hereof; the Company's inability to continue advancing the Company's microdosing homogenized capsules with CCrest Labs; the Company's inability to continue its commitment to advocate for wider spread legalization and/or immediate access for those in need; the Company's inability to remain focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's inability to realize upon its plans to position itself to be leaders in growing categories for legal consumption and health and wellness; the Company will realize its plans to merge the mycelium network together to end stigmas related thereto; the Company's inability to be a part of the positive change in the future through psilocybin macrodosing capsules; the Company's inability to execute upon its plans of goals of increased sales, increased revenue growth; and the Company's inability to share details and updates of the foregoing as stated.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-Looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This press release may contain future oriented financial information ("FOFI") within the meaning of Canadian securities legislation, about prospective results of operations, financial position or cash flows, based on assumptions about future economic conditions and courses of action, which FOFI is not presented in the format of a historical balance sheet, income statement or cash flow statement. The FOFI has been prepared by management to provide an outlook of the Company's activities and results and has been prepared based on a number of assumptions including the assumptions discussed under the heading above entitled "Cautionary Note Regarding Forward-Looking Statements" and assumptions with respect to the costs and expenditures to be incurred by the Company, capital expenditures and operating costs, taxation rates for the Company and general and administrative expenses. Management does not have, or may not have had at the relevant date, firm commitments for all of the costs, expenditures, prices or other financial assumptions which may have been used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not, or may not have been at the relevant date of the FOFI, objectively determinable.
Importantly, the FOFI contained in this press release are, or may be, based upon certain additional assumptions that management believes to be reasonable based on the information currently available to management, including, but not limited to, assumptions about: (i) the future pricing for the Company's products, (ii) the future market demand and trends within the jurisdictions in which the Company may from time to time conduct the Company's business, (iii) the Peterborough Farm's expected revenues of approximately $80,000 per week upon being operational, (iv) the estimated revenue run rate of $15.0 to $18.0 million of domestic and international annual sales per annum when the Peterborough Farm becomes operational and the resulting strong profit margins and cash flow from operations; the cost of the building being in the multiple of millions. The FOFI or financial outlook contained in this press release do not purport to present the Company's financial condition in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in any such document, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments as at the applicable date. However, because this information is highly subjective and subject to numerous risks including the risks discussed under the heading above entitled "Cautionary Note Regarding Forward-Looking Statements" and under the heading "Risk Factors" in the Company's public disclosures, FOFI or financial outlook within this press release should not be relied on as necessarily indicative of future results.
Readers are cautioned not to place undue reliance on the FOFI, or financial outlook contained in this press release. Except as required by Canadian securities laws, the Company does not intend, and does not assume any obligation, to update such FOFI.
SOURCE: Red Light Holland Corp.]]> Red Light Holland Receives Building Permit for AEM Farms 80,000 Square Foot Mushroom Farm, Adding Substantial Future Production Capacity
New multi million dollar production facility will increase AEM Farm's mushroom production output by approximately 15-18 million dollars of domestic and international annual sales, create jobs in Peterborough, Ontario


January 15, 2024 8:00 AM EST | Source: Red Light Holland Corp.
Toronto, Ontario--(Newsfile Corp. - January 15, 2024) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) ("Red Light Holland" or the "Company"), an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, is extremely pleased to announce that their portfolio company, AEM Farms in Peterborough ("AEM Peterborough"), has received its building permit from the Township of Cavan-Monaghan permitting it to build an 80,000 square foot state of the art vertical exotic mushroom farm and composting facility. With this permit, Red Light Holland predicts the facility will be able to produce more than 15,000 tons of mushroom compost annually, leading to more than 7,500,000 pounds of fresh mushrooms per year. The Farm build is expected to commence immediately, with the goal of it being completed by the Fall of 2024.
Developed in collaboration with Mike Medeiros (President of Mushrooms Canada and Director of the Canadian Federation of Agriculture) and Fernando Medeiros from Carleton Mushroom Farms, plus Tonia Furlano, Nick Furlano and Steven Rotiroti (Directors of the Canadian Mushroom Growers Association) of Holburne Mushroom Farm and F&R Mushroom Farm, operating under Red Light's flagship farming brand, AEM Farms, the facility will support the Company's global and local operations with high quality, large-scale exotic mushroom production capabilities that will serve the needs of high-in-demand fresh, organic and Canadian made exotic mushroom growth in Canada and the United States.
"Peterborough is a wonderfully supportive agriculture community and we are excited to work closely with the township of Cavan-Monaghan as construction of our facility immediately commences. We are clearly excited to receive the Building Permit for AEM's expanded 80,000 square foot facility and we believe our projected future enterprise value of the farm alone will be a benefit for Red Light Holland and its investors. We will leverage our existing operational expertise to ensure we support the needs of our customers across both Canada and the United States," said Todd Shapiro, CEO and Director of Red Light Holland.
A note from our CEO:
"We remain absolutely committed at Red Light (and I say this loudly!) to continue growing the psychedelic side of our business. We are using our continuous source of data collection through customer psilocybin usage from our Netherland's farm grown products (iMicrodose and Maka) which are then sold by our distribution company (SR Wholesale) to advocate for wider spread legalization. We are proud of our self-regulatory mandates as we impact change. As well, we are advancing R&D of our micordosing homogenized capsules with CCrest Labs in Canada, with the aim of receiving a 5th psilocybin Health Canada import license with the ultimate goal of providing access for those in need. In the Netherlands, our magic truffle Farm had a record year in sales and we remain focused on increasing both magic truffle production and sales including our efforts of increased sales in our Mush Room and More retail shops in OSS and Utrecht. I wouldn't be surprised, when comparing Red Light to any other publicly traded company in the world, that we probably have grown and sold more psilocybin than any of them - as we educate and support our clients, with our responsible use policy, telecounseling availability and community events," added Shapiro.
"Mushrooms continue to be hot. Our holistic approach, infrastructure, distribution channels, consumer packaged goods, retail experience and overall farming knowledge positions us to be leaders in these growing categories for both legal consumption and health and wellness. At the end of the day whether you're a shiitake, an oyster, a lion's mane mushroom or a psilocybin based mushroom - the science is proving there are benefits for both mind and body health. We are proud to merge the mycelium network together to end stigmas and focus on help and positive change in the future through psilocybin microdosing capsules but with clear immediate goals of increased sales, increased revenue growth and increased shareholder value due to our current business strategy, hard work and unified vision," concluded Shapiro.
Current and Future Updates:
In the near future, Red Light Holland looks forward to sharing details and updates regarding:

• Red Light's partnership with CCrest Labs and NUBU Pharmaceuticals in Australia and New Zealand as the company continues to aim to import more psilocybin from the Netherlands with the goal of producing Homogenized naturally-occurring psilocybin microdosing capsules for emerging markets
  
  
• Red Light's psychedelic division; including increasing production and output in the Company's Magic Truffle Farm in Horst, the Netherlands
  
  
• Red Light's distribution company, currently selling magic truffles to over 200 smart shops across the Netherlands
  
  
• Red Light's Mushroom Home Grow Kit division including increased orders last quarter for both of their owned brands - Happy Caps in North America (over 150 retailers) and Mini-Champ in Europe. Updates for Mistercap LLC to come as well
  
  
• The launch of Red Light's Mushroom Brokerage sales division, lead by Senior VP of Sales, focused on fresh mushroom sales across North America with the goal of immediately increasing revenues
  
  
• AEM New Brunswick Farm producing shiitake mushrooms which are distributed to 47 Farm Boy stores across Ontario and are also available in over 100 retail stores in Eastern Canada, including Loblaws owned retailers in Ottawa; Costco locations in both Ottawa and Gatineau; and Whole Foods Markets in Ottawa and the consideration of potential retrofits and investment to converting AEM New Brunswick to a cGMP-grade CDS Licensed mushroom cultivation facility (working with hired consultants Cannabis Licensing Experts)
  
  
• AEM Peterborough Farm construction progress updates
  

From the beginning, Red Light has and will continue to make significant investments to scale its business in Canada and globally, including building corporate capabilities, developing production infrastructure, consider both M&A activity in both the exotic and psychedelic mushroom sectors and investing in the marketing and development of new value-added consumer products for both the recreational exotic mushroom and potential future psilocybin mushroom markets.
Red Light's total assets as at September 30, 2023: $28.2 million including $16.4 million of cash and cash equivalents and the company has been putting its excess cash to good use through government issued GICs, taking advantage of the current market interest rates to increase our return on investment related to these funds.
Research regarding health benefits of mushrooms:
https://docs.google.com/document/d/14G4lazUQIg3CtgUscJKK72_S5FQ8VAKKcql2386K9D4/edit?usp=sharing
About Carleton Mushroom Farms
Carleton Mushroom Farms, located in Osgoode, Ontario, was founded in 1984 by Mike and Fernando Medeiros' parents and remains a family run business. Mike and Fernando took over day to day operations in 2005. In recent years growing capacity has tripled, and yields have steadily increased to 12 million pounds per year. Carleton Mushroom Farms implements cutting edge technologies from around the world as part of their growing practices. Website: www.carletonmushroom.com.
About Holburne Mushroom Farm
Holburne Mushroom Farm, located in Greenwood, Ontario, is a local family owned and operated business that specializes in growing fresh, organic Shiitake and Oyster Mushrooms since 2005. Production of Organic Shiitake and Oyster Mushrooms has steadily increased to current yield of 1.3 million pounds per year. Proudly, the largest fresh, Organic Shiitake Mushroom growers in Canada. Website: www.holburnemushroom.ca.
About Red Light Holland
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws.
For additional information:
Todd Shapiro
Chief Executive Officer and Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.redlight.co
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's future growth prospects and intentions to pursue one or more viable business opportunities; the development of the Company's business and future activities following the date hereof; advancing the Company's microdosing homogenized capsules with CCrest Labs; advocate for wider spread legalization and/or immediate access for those in need; focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's plans to positions itself to be leaders in growing categories for legal consumption and health and wellness; the Company's plans to merge the mycelium network together to end stigmas related there to; the Company's on being a part of the positive change in the future through psilocybin macrodosing capsules; the Company's goals of increased sales, increased revenue growth; and the Company will share details and updates of the foregoing as stated.
Forward-Looking information in this press release are based on certain assumptions and expected future events, namely: current and future members of management's ability to abide by the Company's business objectives and strategies from time to time established by the Company; the Company's ability to achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company's ability to carry out its performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's ability to carry out its future growth prospects and intentions to pursue one or more viable business opportunities; the Company's ability to carry out its development of the Company's business and future activities following the date hereof; the Company's ability to continue advancing the Company's microdosing homogenized capsules with CCrest Labs; the Company's ability to continue its commitment to advocate for wider spread legalization and/or immediate access for those in need; the Company's ability to remain focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's ability to realize upon its plans to position itself to be leaders in growing categories for legal consumption and health and wellness; the Company's ability to realize its plans to merge the mycelium network together to end stigmas related thereto; the Company's ability to be a part of the positive change in the future through psilocybin macrodosing capsules; the Company's ability to execute upon its plans of goals of increased sales, increased revenue growth; and the Company's ability to share details and updates of the foregoing as stated.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: current and future members of management's inability to abide by the Company's business objectives and strategies from time to time established by the Company; the Company's inability to achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company's inability to carry out its performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's inability to carry out its future growth prospects and intentions to pursue one or more viable business opportunities; the Company's inability to carry out its development of the Company's business and future activities following the date hereof; the Company's inability to continue advancing the Company's microdosing homogenized capsules with CCrest Labs; the Company's inability to continue its commitment to advocate for wider spread legalization and/or immediate access for those in need; the Company's inability to remain focused on increasing both magic truffle production and sales; educate and support the Company's clients with responsible use policy, telecounseling availability, and community events; the Company's inability to realize upon its plans to position itself to be leaders in growing categories for legal consumption and health and wellness; the Company will realize its plans to merge the mycelium network together to end stigmas related thereto; the Company's inability to be a part of the positive change in the future through psilocybin macrodosing capsules; the Company's inability to execute upon its plans of goals of increased sales, increased revenue growth; and the Company's inability to share details and updates of the foregoing as stated.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-Looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This press release may contain future oriented financial information ("FOFI") within the meaning of Canadian securities legislation, about prospective results of operations, financial position or cash flows, based on assumptions about future economic conditions and courses of action, which FOFI is not presented in the format of a historical balance sheet, income statement or cash flow statement. The FOFI has been prepared by management to provide an outlook of the Company's activities and results and has been prepared based on a number of assumptions including the assumptions discussed under the heading above entitled "Cautionary Note Regarding Forward-Looking Statements" and assumptions with respect to the costs and expenditures to be incurred by the Company, capital expenditures and operating costs, taxation rates for the Company and general and administrative expenses. Management does not have, or may not have had at the relevant date, firm commitments for all of the costs, expenditures, prices or other financial assumptions which may have been used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not, or may not have been at the relevant date of the FOFI, objectively determinable.
Importantly, the FOFI contained in this press release are, or may be, based upon certain additional assumptions that management believes to be reasonable based on the information currently available to management, including, but not limited to, assumptions about: (i) the future pricing for the Company's products, (ii) the future market demand and trends within the jurisdictions in which the Company may from time to time conduct the Company's business, (iii) the Peterborough Farm's expected revenues of approximately $80,000 per week upon being operational, (iv) the estimated revenue run rate of $15.0 to $18.0 million of domestic and international annual sales per annum when the Peterborough Farm becomes operational and the resulting strong profit margins and cash flow from operations; the cost of the building being in the multiple of millions. The FOFI or financial outlook contained in this press release do not purport to present the Company's financial condition in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in any such document, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments as at the applicable date. However, because this information is highly subjective and subject to numerous risks including the risks discussed under the heading above entitled "Cautionary Note Regarding Forward-Looking Statements" and under the heading "Risk Factors" in the Company's public disclosures, FOFI or financial outlook within this press release should not be relied on as necessarily indicative of future results.
Readers are cautioned not to place undue reliance on the FOFI, or financial outlook contained in this press release. Except as required by Canadian securities laws, the Company does not intend, and does not assume any obligation, to update such FOFI.
SOURCE: Red Light Holland Corp.]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=11 Mon, 15 Jan 2024 20:50:39 +0000 Cannabis Press Releases]]> https://www.cannabispressreleases.com/press-releases/showthread.php?tid=11 Global Hemp Group Announces Execution of Exclusive Option Agreement to Acquire Serres Theriault (2021) Inc. ("STI"), a Multi-Facetted, Vertically Integrated Cannabis Operator in New Brunswick and Announces Private Placement

January 15, 2024 11:50 AM EST | Source: Global Hemp Group Inc.
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2024) - GLOBAL HEMP GROUP INC. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG0) ("GHG" or the "Company") is pleased to announce that it has executed an Exclusive Option Agreement (the "Agreement") to acquire Serres Thériault (2021) Inc. ("STI"), a multi-facetted vertically integrated cannabis operator in News Brunswick.
This transaction provides the Company a clear pathway to further diversify its activities in the industry and importantly, access to licenses from Health Canada. This will be an important step in furthering the Company's R&D ambitions for its Health and Wellness division, which initial foundation encompasses the Exclusive Licenses relating to key patents and IP acquired from Apollon Formularies plc in 2023.
About STI and its Holdings
Company representatives toured the STI New Brunswick facility last week and met with its principals and team members who are responsible for operating the facility. The facility is currently licensed for Cannabis Micro Processing, a Farmgate Retail Store (opening April 2024), Research & Development. The Agreement covers the acquisition of the 8.6-acre compound and its five buildings for production and sales, along with property a 6,000 sq feet of Greenhouse, equipment, inventory, genetics, Intellectual Property, an onsite retail location, and one offsite retail location.
In November 2023, STI's wholly owned and operated offsite retail store located in St. Quentin, New Brunswick, opened its doors to the public. This is one of only eight exclusive private retail outlets located in the province of New Brunswick. STI advises that sales at this retail location have exceeded expectations to date and has already reached profitability.
Pinnacle Farms, a second retail operation owned by STI is slated to open in April 2024. This store will be licensed as a Farmgate retail model operation in New Brunswick with exclusive distribution of products manufactured by STI. This retail outlet is located within the existing compound.
STI's current micro processing license gives it authorization to sell dry cannabis products to provincial authorities and other licensed producers across Canada. The site is currently authorized to sell seven approved products, with seven additional products having been submitted and are pending approval. STI advises that preparations are underway for expansion of the current packaging area, including the addition of authorized activities for processing and transformation, which are pending approval by Health Canada. This addition of activities will allow for sale of cannabis extracts, cannabis topicals and cannabis edibles, with four new cannabis products in these categories ready for submission.
STI is focused on using craft quality cannabis at an attractive price point. In addition, an exclusive deal with a Cannabis Research License located onsite, allows STI to develop exciting new strains, recipes and proprietary products that it will introduce on a national level to first time cannabis consumers, cannabis enthusiasts, and connoisseurs alike. Part of STI's growth strategy entails expansion of its R&D efforts.
Product distribution from Pinnacle Farms, STI's onsite retail store, is expected to begin April. STI is in discussion with a Quebec partner to increase its distribution channels into the provinces of Quebec and Ontario. In addition, STI will upgrade to a Standard Processing, Packing and Sales License, with further upgrades to include a Cultivation License for a one-acre outdoor cultivation site. The compound will encompass every permitted activity in the Canadian Cannabis Industry. Construction for the planned upgrades has already been completed.
STI also has an exclusive agreement with a hemp producer in New Brunswick that will be focusing on production of 500 acres of hemp for cannabinoid extraction of a highly sought after CBG strain for the 2024 cultivation season.
We are pleased with our visit to the STI facilities in New Brunswick. Experience has shown that this industry is very much about the people, and we are confident that we have found a group that we can work with to build a successful business and create shareholder value going forward.
DEAL TERMSAcquisition of the Option

• The term of the option (the "Option") shall commence on the date of the signing of the Agreement (the "Effective Date") and shall expire upon the earlier of:
  
  1. the twenty-four (24) months anniversary of the Effective Date (the "Option Term");
     
  2. the payment of the amount of $1,500,000, ranging from $1,450,000 to $1,600,000 as more fully detailed below; or
     
  3. the early termination of the Agreement pursuant to Termination below.
     

• To acquire the option, the Company will issue a total of 2,000,000 restricted common shares (the "Common Shares") to STI, and its nominees on the Effective Date. These Common Shares which will carry three separate trading restriction release dates as listed below, will be issued at a deemed price of $0.055 and in accordance with securities regulations that are applicable:
  • 1,000,000 Common Shares that will have the applicable 4 months plus one day regulatory hold period.
    
  • 500,000 Common Shares to be released on the eight-month anniversary of the Effective Date.
    
  • 500,000 Common Shares to be released on the twelve-month anniversary of the Effective Date.
    

• Assumption of the monthly mortgage payment of STI's cannabis compound (the "Mortgage Payments") starting the Effective Date, in the amount of $5,850.00.
  

Assets to be Acquired
The 8.6-acre cannabis compound in New Brunswick includes:

• Land, Property and Equipment, which includes five buildings
  
• Licenses for Cannabis Micro Processing, Packaging and Sales
  
• 6,000 sq feet of Greenhouse;
  
• One of only eight exclusive private New Brunswick retail outlets
  
• Exclusive partnership deal with Hemp License holder
  
• Exclusive partnership deal with Cannabis Research License holder
  
• Intellectual Property associated to 12 cannabis recipes poised for near future distribution
  
• Partnerships with strain developers of Genetics including strains with high value CBD, CBG, CBN, THVC
  

Purchase Price for the Assets of STI

• Cash Payments
  • $50,000 to be paid on the first, fourth, seventh, and tenth month following the Effective Date (the "First Year Payments").
    
  • The balance of $250,000 to be paid by the closing date upon exercise of the Option (the "Closing Date") if GHG exercises the Option within a year from the Effective Date, with applicable deductions made from the Mortgage Payment.
    
  • If GHG does not exercise the Option within the first year and the First Year Payments are not paid, GHG will pay a lump sum amount of $600,000 on the Closing Date, with deductions made from any First Year Payment and Mortgage Payments.
    

• Non-convertible note of $1,000,000 bearing an interest rate of 8% per annum and matures twenty-four (24) months from the Closing Date
  

• 2,000,000 Common Shares will be issued to STI or its nominees which will carry three separate trading restriction release dates as listed below, and will be issued at a deemed price that will be based on the closing market price of the Common Shares on the CSE on the trading day prior to the Closing Date and in accordance with securities regulations that are applicable:
  • 1,000,000 Common Shares that will have the applicable 4 months plus one day regulatory hold period
    
  • 500,000 Common Shares to be released on the eight-month anniversary of the Closing Date.
    
  • 500,000 Common Shares to be released on the twelve-month anniversary of the Closing Date.
    

Assumption of Liabilities

• GHG may elect to assume a debt, an obligation, and liability (each, a "Debt") owed by STI of every kind or nature during the term of the Option.
  
• In the event GHG does not exercise the Option, the Debts will be treated as a loan which will bear an interest rate of 8% and a term of twelve (12) months from the date GHG provided to STI a notice to not exercise the Option.
  
• In the event that GHG exercises the Option, GHG will assume all Debts and liabilities of the STI which currently totals $1.34 million.
  

Board Appointment
GHG granted STI the right to appoint one of its members to the board of directors of GHG, subject to corporate and securities laws compliance by the nominee.
No Shop Clause
During the term of the Option, STI and its affiliates and their directors, officers and similar agents shall not solicit, initiate or encourage the submission of any proposal or offer from any person relating to the acquisition of the Business or any portion of its Assets. In the event of any breach of this clause, STI shall pay a break-up fee of CDN$500,000 to GHG.
Termination
The Option Agreement may be terminated, and the transactions contemplated may be abandoned at any time prior to Closing:

• by mutual written consent of GHG and STI;
  
• by GHG or STI if the Closing shall not have occurred on or before the two-year anniversary of this Agreement; provided that the right to terminate the Agreement shall not be available to any party whose failure to fulfill any of its obligations under this Agreement has been the cause of, or resulted in, the failure of the Closing to occur on or before such date; and
  
• by GHG at any time upon ninety (90) days' prior written notice to STI.
  

Debt Restructuring and Settlement
Further to the company's news release of September 19, 2023, the Company has settled $150,000 of its outstanding long term unsecured debt (due March 8, 2025) for units at $0.05 per unit. Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one non-transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until January 15, 2027. The remaining balance of $300,000 plus accrued interest at 12% per annum, will continue to accrue interest until maturity on March 8, 2025, if not converted prior to maturity into units with the same terms and conditions as the above referenced initial debt settlement amount.
The Company also wishes to announce that it intends to complete a non-brokered private placement of up to 15,000,000 units (each a "Unit") at $0.05 per Unit for gross proceeds of up to $750,000 (the "Offering"). Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one non-transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until January 15, 2027. The Company intends to use the net proceeds from the Offering for general working capital purposes. It is anticipated that this placement will close in multiple tranches, with the first tranche of $67,500 for 1,350,000 units expected to close in one week.
All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and one day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. In connection with the Offering, the Company may pay certain eligible finder's a fee equal to 8% of the gross proceeds from the Offering and issue Warrants, equal to 8% of the total number of Units sold.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG0) is a dynamic company currently focused on two key business segments - Industrial Hemp and Biopharma.
The Industrial Hemp division's primary focus lies in the environmental uses of hemp for construction and hemp for sustainable bio-energy sources, both contributing to a carbon-negative footprint. Our R&D team is engaged in developing Intellectual Property that can be patented and implemented within our projects and beyond.
The Health and Wellness Division is focused on the acquisition of exclusive patents and IP through licensing agreements. The Company acquired exclusive rights to key patents and IP of Apollon Formularies plc., a UK-based international pharmaceutical company whose formulations and patents specialize in developing cancer treatments from natural biologics, including cannabinoids and functional mushrooms. More recently, the Company has signed a Letter of Intent with B-Organic R&D Corp. relating to the use of their Bioactive Lipid Agents ("BLA") technology with cannabinoids, terpenes, flavonoids and mushroom extracts. BLA enhances the solubility and bioavailability of various "poorly soluble pharma ingredients".
These strategic alliances form the basis for the commercialization of promising independently pre-clinically tested formulations, underscoring our commitment to cutting-edge innovation in the commercial biopharma sector.

For Further Information Contact Global Hemp GroupInvestor RelationsTel: 778-726-2900info@globalhempgroup.comwww.globalhempgroup.com

Cautionary Note Regarding Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Global Hemp Group Inc.]]> Global Hemp Group Announces Execution of Exclusive Option Agreement to Acquire Serres Theriault (2021) Inc. ("STI"), a Multi-Facetted, Vertically Integrated Cannabis Operator in New Brunswick and Announces Private Placement

January 15, 2024 11:50 AM EST | Source: Global Hemp Group Inc.
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2024) - GLOBAL HEMP GROUP INC. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG0) ("GHG" or the "Company") is pleased to announce that it has executed an Exclusive Option Agreement (the "Agreement") to acquire Serres Thériault (2021) Inc. ("STI"), a multi-facetted vertically integrated cannabis operator in News Brunswick.
This transaction provides the Company a clear pathway to further diversify its activities in the industry and importantly, access to licenses from Health Canada. This will be an important step in furthering the Company's R&D ambitions for its Health and Wellness division, which initial foundation encompasses the Exclusive Licenses relating to key patents and IP acquired from Apollon Formularies plc in 2023.
About STI and its Holdings
Company representatives toured the STI New Brunswick facility last week and met with its principals and team members who are responsible for operating the facility. The facility is currently licensed for Cannabis Micro Processing, a Farmgate Retail Store (opening April 2024), Research & Development. The Agreement covers the acquisition of the 8.6-acre compound and its five buildings for production and sales, along with property a 6,000 sq feet of Greenhouse, equipment, inventory, genetics, Intellectual Property, an onsite retail location, and one offsite retail location.
In November 2023, STI's wholly owned and operated offsite retail store located in St. Quentin, New Brunswick, opened its doors to the public. This is one of only eight exclusive private retail outlets located in the province of New Brunswick. STI advises that sales at this retail location have exceeded expectations to date and has already reached profitability.
Pinnacle Farms, a second retail operation owned by STI is slated to open in April 2024. This store will be licensed as a Farmgate retail model operation in New Brunswick with exclusive distribution of products manufactured by STI. This retail outlet is located within the existing compound.
STI's current micro processing license gives it authorization to sell dry cannabis products to provincial authorities and other licensed producers across Canada. The site is currently authorized to sell seven approved products, with seven additional products having been submitted and are pending approval. STI advises that preparations are underway for expansion of the current packaging area, including the addition of authorized activities for processing and transformation, which are pending approval by Health Canada. This addition of activities will allow for sale of cannabis extracts, cannabis topicals and cannabis edibles, with four new cannabis products in these categories ready for submission.
STI is focused on using craft quality cannabis at an attractive price point. In addition, an exclusive deal with a Cannabis Research License located onsite, allows STI to develop exciting new strains, recipes and proprietary products that it will introduce on a national level to first time cannabis consumers, cannabis enthusiasts, and connoisseurs alike. Part of STI's growth strategy entails expansion of its R&D efforts.
Product distribution from Pinnacle Farms, STI's onsite retail store, is expected to begin April. STI is in discussion with a Quebec partner to increase its distribution channels into the provinces of Quebec and Ontario. In addition, STI will upgrade to a Standard Processing, Packing and Sales License, with further upgrades to include a Cultivation License for a one-acre outdoor cultivation site. The compound will encompass every permitted activity in the Canadian Cannabis Industry. Construction for the planned upgrades has already been completed.
STI also has an exclusive agreement with a hemp producer in New Brunswick that will be focusing on production of 500 acres of hemp for cannabinoid extraction of a highly sought after CBG strain for the 2024 cultivation season.
We are pleased with our visit to the STI facilities in New Brunswick. Experience has shown that this industry is very much about the people, and we are confident that we have found a group that we can work with to build a successful business and create shareholder value going forward.
DEAL TERMSAcquisition of the Option

• The term of the option (the "Option") shall commence on the date of the signing of the Agreement (the "Effective Date") and shall expire upon the earlier of:
  
  1. the twenty-four (24) months anniversary of the Effective Date (the "Option Term");
     
  2. the payment of the amount of $1,500,000, ranging from $1,450,000 to $1,600,000 as more fully detailed below; or
     
  3. the early termination of the Agreement pursuant to Termination below.
     

• To acquire the option, the Company will issue a total of 2,000,000 restricted common shares (the "Common Shares") to STI, and its nominees on the Effective Date. These Common Shares which will carry three separate trading restriction release dates as listed below, will be issued at a deemed price of $0.055 and in accordance with securities regulations that are applicable:
  • 1,000,000 Common Shares that will have the applicable 4 months plus one day regulatory hold period.
    
  • 500,000 Common Shares to be released on the eight-month anniversary of the Effective Date.
    
  • 500,000 Common Shares to be released on the twelve-month anniversary of the Effective Date.
    

• Assumption of the monthly mortgage payment of STI's cannabis compound (the "Mortgage Payments") starting the Effective Date, in the amount of $5,850.00.
  

Assets to be Acquired
The 8.6-acre cannabis compound in New Brunswick includes:

• Land, Property and Equipment, which includes five buildings
  
• Licenses for Cannabis Micro Processing, Packaging and Sales
  
• 6,000 sq feet of Greenhouse;
  
• One of only eight exclusive private New Brunswick retail outlets
  
• Exclusive partnership deal with Hemp License holder
  
• Exclusive partnership deal with Cannabis Research License holder
  
• Intellectual Property associated to 12 cannabis recipes poised for near future distribution
  
• Partnerships with strain developers of Genetics including strains with high value CBD, CBG, CBN, THVC
  

Purchase Price for the Assets of STI

• Cash Payments
  • $50,000 to be paid on the first, fourth, seventh, and tenth month following the Effective Date (the "First Year Payments").
    
  • The balance of $250,000 to be paid by the closing date upon exercise of the Option (the "Closing Date") if GHG exercises the Option within a year from the Effective Date, with applicable deductions made from the Mortgage Payment.
    
  • If GHG does not exercise the Option within the first year and the First Year Payments are not paid, GHG will pay a lump sum amount of $600,000 on the Closing Date, with deductions made from any First Year Payment and Mortgage Payments.
    

• Non-convertible note of $1,000,000 bearing an interest rate of 8% per annum and matures twenty-four (24) months from the Closing Date
  

• 2,000,000 Common Shares will be issued to STI or its nominees which will carry three separate trading restriction release dates as listed below, and will be issued at a deemed price that will be based on the closing market price of the Common Shares on the CSE on the trading day prior to the Closing Date and in accordance with securities regulations that are applicable:
  • 1,000,000 Common Shares that will have the applicable 4 months plus one day regulatory hold period
    
  • 500,000 Common Shares to be released on the eight-month anniversary of the Closing Date.
    
  • 500,000 Common Shares to be released on the twelve-month anniversary of the Closing Date.
    

Assumption of Liabilities

• GHG may elect to assume a debt, an obligation, and liability (each, a "Debt") owed by STI of every kind or nature during the term of the Option.
  
• In the event GHG does not exercise the Option, the Debts will be treated as a loan which will bear an interest rate of 8% and a term of twelve (12) months from the date GHG provided to STI a notice to not exercise the Option.
  
• In the event that GHG exercises the Option, GHG will assume all Debts and liabilities of the STI which currently totals $1.34 million.
  

Board Appointment
GHG granted STI the right to appoint one of its members to the board of directors of GHG, subject to corporate and securities laws compliance by the nominee.
No Shop Clause
During the term of the Option, STI and its affiliates and their directors, officers and similar agents shall not solicit, initiate or encourage the submission of any proposal or offer from any person relating to the acquisition of the Business or any portion of its Assets. In the event of any breach of this clause, STI shall pay a break-up fee of CDN$500,000 to GHG.
Termination
The Option Agreement may be terminated, and the transactions contemplated may be abandoned at any time prior to Closing:

• by mutual written consent of GHG and STI;
  
• by GHG or STI if the Closing shall not have occurred on or before the two-year anniversary of this Agreement; provided that the right to terminate the Agreement shall not be available to any party whose failure to fulfill any of its obligations under this Agreement has been the cause of, or resulted in, the failure of the Closing to occur on or before such date; and
  
• by GHG at any time upon ninety (90) days' prior written notice to STI.
  

Debt Restructuring and Settlement
Further to the company's news release of September 19, 2023, the Company has settled $150,000 of its outstanding long term unsecured debt (due March 8, 2025) for units at $0.05 per unit. Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one non-transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until January 15, 2027. The remaining balance of $300,000 plus accrued interest at 12% per annum, will continue to accrue interest until maturity on March 8, 2025, if not converted prior to maturity into units with the same terms and conditions as the above referenced initial debt settlement amount.
The Company also wishes to announce that it intends to complete a non-brokered private placement of up to 15,000,000 units (each a "Unit") at $0.05 per Unit for gross proceeds of up to $750,000 (the "Offering"). Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one non-transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until January 15, 2027. The Company intends to use the net proceeds from the Offering for general working capital purposes. It is anticipated that this placement will close in multiple tranches, with the first tranche of $67,500 for 1,350,000 units expected to close in one week.
All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and one day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. In connection with the Offering, the Company may pay certain eligible finder's a fee equal to 8% of the gross proceeds from the Offering and issue Warrants, equal to 8% of the total number of Units sold.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG0) is a dynamic company currently focused on two key business segments - Industrial Hemp and Biopharma.
The Industrial Hemp division's primary focus lies in the environmental uses of hemp for construction and hemp for sustainable bio-energy sources, both contributing to a carbon-negative footprint. Our R&D team is engaged in developing Intellectual Property that can be patented and implemented within our projects and beyond.
The Health and Wellness Division is focused on the acquisition of exclusive patents and IP through licensing agreements. The Company acquired exclusive rights to key patents and IP of Apollon Formularies plc., a UK-based international pharmaceutical company whose formulations and patents specialize in developing cancer treatments from natural biologics, including cannabinoids and functional mushrooms. More recently, the Company has signed a Letter of Intent with B-Organic R&D Corp. relating to the use of their Bioactive Lipid Agents ("BLA") technology with cannabinoids, terpenes, flavonoids and mushroom extracts. BLA enhances the solubility and bioavailability of various "poorly soluble pharma ingredients".
These strategic alliances form the basis for the commercialization of promising independently pre-clinically tested formulations, underscoring our commitment to cutting-edge innovation in the commercial biopharma sector.

For Further Information Contact Global Hemp GroupInvestor RelationsTel: 778-726-2900info@globalhempgroup.comwww.globalhempgroup.com

Cautionary Note Regarding Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Global Hemp Group Inc.]]>