PALM BEACH, Florida, September 19, 2017 /PRNewswire/ —
While legalization efforts of legal marijuana, hemp and cannabis continues to sweep across North America, both U.S. and Canadian industry leaders are ramping up the efforts to expedite the process through such activities as new partner and consulting agreements to aid legislation as well as expanding operations and introducing the greatest and latest products and services to continue to peak consumer interest. Active companies with recent developments and notable market performance this week include:MYM Nutraceuticals Inc. (CNSX:MYM-CN.CN), OrganiGram Holdings Inc. , THC Biomed INTL LT COM NPV (CNSX:THC-CN.CN), Supreme Pharmaceuticals , Marapharm Ventures Inc. (CNSX:MDM-CN.CN)
MYM Nutraceuticals Inc., (OTCQB:MYMMF) (CNSX:MYM-CN.CN) is pleased to announce that it has entered into a consulting agreement with International Cannabis Consultants Co. (“Incanco”), leading authorities on the legal framework of cannabis legislation in Canada. Incanco’s Chief Operating Officer, John Conroy, has been a trailblazer in effecting groundbreaking legal changes to cannabis legislation in Canada for many years.Under the consulting agreement, MYM engaged Incanco for a three-year consulting term effective September 18, 2017.Read this and more news for MYM Nutraceuticals at:http://www.marketnewsupdates.com/news/mymmf.html
Pursuant to the consulting agreement Incanco provides various consulting services including, but not limited to, the following:
(a) Aid in navigating current and future regulatory regimes for cannabis and cannabis products. Helping to secure a license for MYM to produce and distribute cannabis and cannabis products from its proposed Weedon, QC facility.
(b) Facilitate export license for MYM to distribute cannabis and cannabis products outside of Canada, primarily, the United States.
(c) Assist in submitting grants to the Quebec provincial government to further the completion of the Weedon, QC project.
(d) Introduce MYM to potential investors interested in financing current and future projects.
(e) Approach various levels of government to ensure that upcoming regulatory regime for legal cannabis includes extant dispensaries as the primary retail outlets for distribution of cannabis and cannabis products to the public.
Incanco’s principal, Mr. Conroy, has extensive background as legal counsel in Constitutional and Criminal Law cases with respect to cannabis legislation. Mr. Conroy acted as lead counsel in the legal proceeding Allard v. Canada that resulted in a successful Constitutional challenge to the Marijuana for Medical Purposes Regulations that led to the current Access to Cannabis for Medical Purposes Regulations. As a result, medically approved patients are able to continue to produce cannabis for themselves or have a designated grower do so for them. Mr. Conroy is currently involved in communications with Federal government officials in Ottawa at Health Canada, making submissions with respect to the proposed Cannabis Act anticipated to become law in July 2018 and to legalize recreational marijuana. He recently appeared as a witness before the Parliamentary Standing Committee on Health that is studying Bill C – 45 before it goes to third reading in Parliament and is anticipated to become law. In the near term, he expects to be consulting and making submissions with respect to British Columbia Provincial legislation as well as engaging other provinces with respect to their proposed legislation.
In other industry news of note:
OrganiGram Holdings Inc. (OTCQB:OGRMF) recently announced it has entered into a memorandum of understanding (“MOU”) with the New Brunswick provincial authority for the distribution of marijuana to the adult-use recreational market. Through the MOU, New Brunswick secures a supply of at least 5 million grams of recreational marijuana per year from Organigram. The MOU, one of the first in Canada, is the result of positive, productive and ongoing consultation between the Government of New Brunswick and the Company. “We are excited to enter into this MOU with the Province. The Government of New Brunswick has established itself as a leader in the developing marijuana industry, working to ensure that the industry develops in a responsible and effective manner. New Brunswick’s stewardship on this file has been recognized throughout Canada and we are proud to work closely and support them as a strategic partner,” says Greg Engel, Organigram’s Chief Executive Officer.
THC Biomed INTL LT COM NPV (OTCQB:THCBF) (CNSX:THC-CN.CN) finished Monday up over 25% on the OTC Markets with a volume north of 120,000 and closed up over 26% on the CSE Canadian Exchange. THC Biomed Intl. Ltd. announced in late August it is authorized by Health Canada to sell dried marijuana to registered patients under the ACMPR. THC already sells starting materials to eligible customers. “THC is thrilled that it can now fill orders and accept new clients,” said John Miller, Chief Executive Officer of THC. “Our inventory is ready. Authorized customers can order from our new website and have products shipped directly to their homes. Our high-quality organically grown dried marihuana will be available in 29 strains our pricing structure reflects our mandate of supplying good quality marihuana at an affordable price compassionate pricing of $4.20 per gram is available for interim supply to home growers that purchase starting material from THC Biomed.
Supreme Pharmaceuticals closed up 3.19% on Monday with over 300,000 shares traded on the day on the OTC Markets and closed up 4.72% on the TSX Venture at $1.33 trading over 960,000 shares by the market close . The company recently announced, through its wholly owned subsidiary, 7ACRES, has completed its first sale of dried cannabis to Aurora Cannabis. Aurora Cannabis one of Canada’s leading licensed producers, will sell cannabis procured from 7ACRES to its medical cannabis patients, with a producer’s mark specifying the cannabis as “SunGrown by 7ACRES”. 7ACRES is a federally licensed producer of medical cannabis pursuant to the ACMPR operating inside a 342,000 sq. ft. Hybrid Greenhouse facility located in Kincardine, Ontario. It is the largest facility of its kind to grow with advanced HVAC and C02 enrichment using the full-spectrum sun, rather than the limited-spectrum lamps used by many ‘hybrid’ growers.
Marapharm Ventures Inc. (OTCQB:MRPHF) (CNSX:MDM-CN.CN) announced today that demolition within the 30,000 square foot facility located on its 13.6 acre cannabis campus in Washington State is now finished and renovations will soon be underway. Cultivation and processing of recreational marijuana will resume when construction is complete. Construction photos are posted on marapharm.com.”In Washington, 30,000 square foot licensed cannabis cultivation facilities can average more than $2 million per month in sales according to http://www.502data.com . The tier 3 cultivation license will allow for 30,000 square feet of cultivation within the Marapharm facility. Once renovations are complete, base rent revenue of $200,000 per month for facility use are to be paid retroactively to Marapharm as per an agreement with the license holder signed when operations commenced August 1, 2016.In addition, operational and capital costs, as well as performance bonus amounts, will be calculated and are owed to Marapharm,” Linda Sampson, Marapharm CEO.
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