NEW YORK, November 10, 2016 /PRNewswire/ --
Whatever it is you think of the election results, it was a good year for the Cannabis industry. California, Massachusetts and Nevada legalized marijuana on Tuesday. Three major states that have potential to become the reflection of the country's changing opinions toward cannabis, both for medical and recreational purposes. With these states, now more than 20 percent of Americans can use marijuana legally. New Age Farm Inc. (NF.CN) Organigram Holdings Inc. (OGI.V), Aphria Inc. (APH.V), Aurora Cannabis Inc. (ACB.V), Mettrum Health Corp (MT.V)
According ArcView Market Research the legal cannabis market will see a whopping $21.8 billion in total annual sales by 2020. The market is expected to grow at a compound annual growth rate of nearly 30% over the next few years.
New Age Farm Inc. (NF.CN) offers a unique growing infrastructure and services for licensed growers and processors of luxury crops including cannabis at their green campuses in Washington State and British Columbia. Two campuses in Washington State - one in Sumas and one in Oroville - are capable of welcoming specialty producers as well as licensed marijuana growers.
New Age Farm Inc. announced that it will implement the Plan of Arrangement with its wholly owned subsidiary, NHS Industries Ltd. ("NHS") approved by the Company's shareholders at its AGM (see News Releases dated September 22 and 30, 2016). The Company will prepare NHS facilities and infrastructure in Langley, BC in anticipation of Canada's recreational marijuana industry.
New Age Farm Inc. Plan of Arrangement - New Age Farm and NHS entered into an arrangement agreement effective August 31, 2016 whereby New Age Farm would spin-off NHS, together with all its assets and liabilities, as a separate operating entity and NHS would operate the Company's Langley Property located in Langley, British Columbia (the "Arrangement"). In return, following completion of the Arrangement, Shareholders would hold one new share (each, a "New Share", collectively the "New Shares") in the capital of the Company and its pro-rata share of the post-consolidation NHS Shares to be distributed under the Arrangement for each currently held New Age Farm share. The New Shares would be identical in every respect to the present New Age Farm shares.
New Age Farm Inc. Share Distribution Record Date - The board of directors of New Age Farm have set the share distribution record date of the Plan of Arrangement at close of business on November 30, 2016 (the "Share Distribution Record Date"). Shareholders as of the Share Distribution Record Date will be entitled to receive the New Shares and the NHS Shares. Each shareholder of record on November 30, 2016 will participate in the Arrangement on a pro-rata basis and, upon completion of the Arrangement, will continue to hold substantially the same pro-rata interest they held in the Company prior to completion of the Arrangement. The New Shares will be identical in every respect to the shareholders' current New Age Farm shares; in addition, each New Age Farm shareholder will receive from NHS the number of common shares equal to the issued and outstanding common shares of New Age Farm held by the shareholder as of the Share Distribution Record Date, divided by an exchange ratio. The Arrangement was unanimously approved by the Shareholders at the AGM, and remains subject to final approval from applicable regulators. The Company provided full details of the Arrangement in an information circular that was mailed to the Shareholders and is available on SEDAR (the "Circular").
Mettrum Health Corp. (TSX-V: MT) a producer of medical cannabis, which is also a licensed producer and distributer of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals. The company has a production capacity of over 12,000 kilograms of medical cannabis per year. This August the company announced its recent quarterly earnings, showing revenues increased 54% to $4,170,514 and gross profit increased 67% to $3,320,828 quarter over quarter.
Aurora Cannabis Inc. (TSX-V: ACB) is a Canada-based company operating via its subsidiary, Aurora Cannabis Enterprises Inc., as a licensed producer of medical marihuana pursuant to the Marihuana for Medical Purposes Regulations. It operates an approximately 55 thousand square foot expandable production facility in Alberta, Canada. The Company has a wholly owned subsidiary, Australis Capital Inc., a 50% owned subsidiary, Australis Holding LLP and cooperates with a consultant, Electrum Partners LLP, and a partner AJR Builders Group LLC.
Organigram Holdings Inc. (TSX-V: OGI) is a licensed producer of medical marijuana and regulated by Health Canada. Exponential growth in sales has led to the generation of positive adjusted EBITDA after only 7 operating quarters. The company focuses on Organic growing, the science of managing micro life enriched soil. The benefits of growing organic are many, including the lack of synthetic nutrients, pesticides, herbicides or additives, biodegradable source that has no negative impact on the environment, as well as important building blocks for odors, hormones, vitamins, pigments, resins, essential oils and cannabinoids.
Aphria Inc. (TSX-V: APH) is engaged in producing and selling medical marijuana through retail sales and wholesale channels. The Company is also engaged in the research and development, and commercial production of cannabis oil. Its cannabis oil products will include Champlain, Rideau and Capilano. On October 7th Aphria reported quarterly EBITDA of $1 million, which is 102% increase quarter over quarter in EBITDA, and 72% quarter over quarter increase in kilograms sold.
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