The European market is on course to grow 400% over the next four years, according to the Brightfield Group. “CBD is just starting to take hold in Europe, with both product availability and consumer awareness still quite limited. This is a great opportunity for developed brands to enter and expand through Europe with far less competition than we’re seeing in the U.S.” That’s opening a wide range of opportunity for companies including The Yield Growth Corp. (CNSX:BOSS.CN) (OTCQB:BOSQF), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED.TO), Aurora Cannabis Inc. (NYSE:ACB), Wayland Group Corp. (CNSX:WAYL.CN) (OTCQB:MRRCF), HEXO Corporation (NYSE:HEXO) (TSX:HEXO.TO), and ICC International Cannabis Corp. (CNSX:WRLD-U.CN) (OTCPK:WLDCF).
The Yield Growth Corp. (CNSX:BOSS.CN)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that it entered into a definitive agreement on July 10, 2019 with Melorganics for distribution of Urban Juve products in Greece and Cyprus. Pursuant to the agreement Melorganics Hellas will act as the exclusive retail distributor and non-exclusive e-commerce distributor for Urban Juve products in Greece and Cyprus. To maintain exclusivity in the territory, Melorganics must purchase a minimum amount of Urban Juve products of $300,000 in Year 1 and $500,000 in each subsequent year. “This is the first of many territory specific distribution agreements we expect to enter into,” says Penny Green, CEO of Yield Growth. “We intend to generate significant sales revenues by aligning with different distributors with strong networks in different regions. We are currently in negotiations with distributors for France, Poland, the United Kingdom and Turkey with upcoming meetings set to discuss South America, Germany and Portugal.” Urban Juve recently announced its first product has received a Compliance Certificate and is approved for sale in the European Union. It had plans to register 10 more products for sale in the EU within the next few months. For more information for Yield Growth, please visit: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
Aurora Cannabis Inc. (NYSE:ACB) announced plans for the highly-anticipated expansion of the consumer cannabis market into vapes, concentrates, and edibles. The Company is also preparing to launch a national public awareness campaign this fall, educating consumers, provinces and retailers about the safe usage and consumption of these new derivative products. Through a combination of new and enhanced facilities, Aurora intends to produce new, high-quality products across the country in a variety of product categories. Aurora recently entered into a supply agreement with PAX Labs Inc., a leading consumer technology brand in cannabis. With the PAX partnership, the Company will have the market leading PAX Era device to compete in the Closed Loop category and will also launch a new range of vape products, at various price points, targeted to all major consumer markets through both 510 thread cartridges and disposable single-use units.
“Aurora is the world’s leading producer of high-quality cannabis and we’re ready to introduce high-value product additions to this improved, federally legal market,” said the Company’s CEO Terry Booth. “From the beginning, we’ve invested in industry-leading production and distribution technology, and in consumer research to drive products to market that consumers will desire. These things, together with the dynamic partnerships we’ve entered into on the accessory and technology fronts, position us well for this new market launch in December as per Health Canada’s recent regulatory amendments.”
Wayland Group Corp. (CNSX:WAYL.CN)(OTCQB:MRRCF) just announced that it completed a transaction relating to the sale of a 49.9% interest in Maricann B.V. to ICC International Cannabis Corp. pursuant to the terms of an amended and restated transaction agreement and related subscription agreement. Wayland now beneficially owns approximately 246,614,000 shares of ICC representing approximately 37% of the outstanding ICC shares following closing on a fully diluted basis. Under the terms of the agreement, ICC is expected to subsequently acquire a 49.9% interest in the balance of Wayland’s international portfolio of assets and, upon completion of that acquisition, Wayland would beneficially own an aggregate of 300,000,000 ICC shares, representing an ownership interest in ICC of approximately 41.7%. Wayland intends to distribute ICC shares to its shareholders following completion of these transactions and upon receipt of any applicable approvals required to distribute these shares on a tax effective basis.
HEXO Corporation (NYSE:HEXO)(TSX:HEXO.TO) has received a medical cannabis installation license. The license, issued by the Greek government, will allow HEXO MED to establish cultivation, processing and manufacturing facilities in the region of Thessaly, Greece. With HEXO Corp’s experience in the industry, HEXO MED is poised to become a leader in the European cannabis landscape. “This is a major step for HEXO as we continue to execute towards becoming a top three global cannabis company,” said Sebastien St-Louis, HEXO Corp CEO and co-founder. “Receiving licensing in Greece will allow us to bring know-how and brands powered by HEXO to the European market. The new facility will also drive value for current and future Fortune 500 partners by giving them access to licensed infrastructure internationally with the vision of capturing first-mover advantage in the burgeoning European cannabis market.”
ICC International Cannabis Corp. (CNSX:WRLD-U.CN)(OTCPK:WLDCF) has completed a Technical Feasibility Study relating to its proposed 150,000 square foot Danish GACP/EU-GMP certified Greenfield cultivation, processing and manufacturing facility. The Company previously engaged a leading Denmark based international pharma engineering firm to perform a comprehensive Feasibility Study for its planned Danish Facility; situated on a 100-acre land parcel in Møldrup, Denmark. The initiation of the Danish Facility project marks another milestone for ICC, as it continues to execute on its long-term economically sustainable and alpha generating corporate stratagem. Leveraging proprietary design and build IP, as well as its proven cultivation methodologies, ICC seeks to achieve full optimization of each square foot in the Danish Facility. The Company forecasts that further engineering efficiencies will be achieved by way of customized process design and building systems. Initial conclusions of the Feasibility Study indicate that once fully operational, ICC’s Danish Facility will achieve annualized production capabilities of circa 20,000,000 grams of artisanal grown, ultra-premium dried cannabis flower for sale into high value medical markets.
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