News roundup July 2019
A monthly summary of the key events taking place in the Colombian medicinal cannabis industry
Finance and Acquisitions
Biocannabix to acquire Lifeline Pharma
Biocannabix Health Corporation, a wholly-owned subsidiary of Relevium Technologies Inc (TSXV: RLV) will acquire 100% of the shares of Cali-based cannabis company, Lifeline Pharma SAS. The acquisition covers Lifeline’s laboratory and greenhouse facilities as well as the 668 genetic strains that are registered with the ICA.
Medicine Man Technologies to acquire Green Equity SAS
Medicine Man Technologies Inc (OTCQX: MDCL) has entered into binding term sheets to acquire 100% of the assets of Green Equity SAS. The deal includes licenses, IP and R&D rights, as well as access to Green Equity’s 110 ha farm located near Bogotá. Medicine Man Technologies will pay USD$5.4 million for Green Equity, consisting of USD$450,000 in cash and 1,292,427 common shares at a price of USD$3.83 per share.
PharmaCielo announces OTC listing
PharmaCielo Ltd (TSXV: PCLO) has started trading on the OTC Markets under the symbol PHCEF. PharmaCielo CEO David Attard says he believes the OTC listing will increase access for US and international investors, providing greater liquidity.
Two Hands Corporation agrees to acquire Plantro
Two Hands Corporation (OCTQB: TWOH) agreed to purchase 100% of the licence to grow, export and hold Colombian cannabis and CBD derivatives from Plantro SAS. As part of the agreement, Plantro has assisted in the initial construction of greenhouses for the first hectare in Madrid, Cundinamarca, near Bogotá. The greenhouses currently house the initial test harvests of nearly 600 plants of 10 different genetic strains.
Khiron completes acquisition of NettaGrowth International
Khiron Life Sciences Corp. (TSXV: KHRN) announced it has completed the acquisition of NettaGrowth International and its wholly-owned subsidiary Dormul SA in Uruguay, as previously announced earlier this year. Also, entrepreneur and capital markets executive Michael Beck joined the board of Khiron, and Joseph Mimran, brand builder and entrepreneur, joined the board of Khiron Colombia.
Clever Leaves presents ESENIA hemp brand for women at Cannabis Europa
Clever Leaves has launched ESENIA, the first of its line of commercial hemp- based products designed for women. The ESENIA range – designed to manage stress, improve sleep and focus and easing soreness and discomfort – is made up of five different products, including ESSENTIAL, a CBD sublingual spray with dosage every eight hours for 15 seconds.
CannabCo announces USD$70 million medical deal and new land purchase
CannabCo Pharmaceutical Corp Colombia has signed an LoI for the provision of an estimated USD$70 million a year in non- psychoactive psychoactive cannabis oil in different formats. It has also entered an agreement to convert 24 ha of land near Bogotá to cannabis production and purchase one million sq ft of completed greenhouses for immediate cannabis production.
Canopy Growth enters agreement with Procaps SAS
Canopy Growth (TSXV: WEED) entered a multi-year agreement with Colombia-based Procaps SAS which develops, manufactures and markets over-the-counter medications and nutritional supplements for international pharmaceutical companies. Procaps currently exports to more than 50 international markets, including the USA where they hold the FDA’s GMP.
MYM Nutraceuticals signs production agreements with Colombian farmers
MYM Nutraceuticals (CSE: MYM), through its Colombian subsidiary, Colombia Organica SAS, has signed agreements to cultivate THC and CBD-rich cannabis with independent farmers. Cannabis will initially be cultivated on two ha of by farmers under the existing cultivation licenses held by Colombia Organica. These will function as test crops for subsequent acreage.