PALM BEACH, Florida, June 13, 2019 /PRNewswire/ -- Since the early 1960's or maybe even earlier people in the U.S. have been growing cannabis/marijuana for personal use and for sale on the black markets. They would set up crop locations in remote areas, or in a clearing in a forest, or in the middle of corn fields. Some even used nets like the military to hide their operations from the air! All of these techniques were eventually foiled by the authorities over time which caused the 'outlaw' cannabis growers to move their operations inside to escape detection. A recent article in a cannabis industry publication talked about these unintentional pioneers in indoor cannabis growth techniques. The article said in part: "They are coming out of hiding. For decades, these hidden growers had to be creative. They took risks. And they're bringing the knowledge gained from those risks to the traditional agriculture market as it, too, shifts indoors." Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTCQB: NUGS), INSYS Therapeutics, Inc. (NASDAQ: INSY), CV Sciences, Inc. (OTCQB: CVSI), Sorrento Therapeutics, Inc. (NASDAQ: SRNE), Neptune Wellness Solutions Inc. (TSX: NEPT.TO) (NASDAQ: NEPT).
And it is not just the cannabis operations that will benefit. The article added: "Legalization allows cannabis growers to come out of hiding with knowledge invaluable to the urban farming movement… Produce and herb farmers are watching the cannabis industry closely, looking to implement technologies that cannabis is investing to more efficiently address their own operations in greenhouses and even outdoor cultivation." For example: "Ten years ago, high-pressure sodium (HPS) lights were the only option cannabis growers had for growing their products indoors, away from the prying eyes of law enforcement. But in recent years research shows LEDs promise to be more energy efficient and effective for plant growth, both of which improve the bottom line for (all) growers. LEDs are already enabling year-round harvests, eliminating concerns around seasonality, increasing plant yields by supplementing sunlight and making it possible for plants to thrive in the dead of winter."
Cannabis Strategic Ventures, Inc. (OTCQB:NUGS) BREAKING NEWS: Cannabis Strategic Ventures today announces it is finalizing negotiations for a series of strategic transactions that could reshape the California cannabis marketplace. Under the terms of the agreements, which are being negotiated and are not final, the Company will gain significant indoor, outdoor and greenhouse cannabis cultivation operations; an existing cannabis retail presence; a team of highly experienced cultivators and managers; and a direct cash infusion from a strategic investment group.
The transactions being negotiated are material and will result in a fundamental shift in the Company's business, market value and ability to scale operations and cannabis assets under its control. In exchange for the acquired assets, the Company would issue a combination of restricted common and preferred shares to the strategic investment group and management team. In return, the strategic investors would make a direct cash investment and contribute significant operational and hard cannabis assets.
"We are in the final stages of negotiations, and once they conclude will be acquiring strong cannabis assets in the state of California," commented Simon Yu, CEO, Cannabis Strategic Ventures. "Simply put, Cannabis Strategic Ventures would quickly become one of the largest cultivators in the state of California and the United States." Read this entire release and more news for Cannabis Strategic Ventures at: https://www.financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:INSYS Therapeutics, Inc.
(NASDAQ: INSY) a specialty pharmaceutical development and distribution company, recently announced that on June 11, 2019 INSYS received interim approvals from the U.S. Bankruptcy Court for the District of Delaware for its First Day motions related to the Chapter 11 petitions filed on June 10, 2019.
Andrew G. Long, Chief Executive Officer of INSYS Therapeutics, Inc., said, "This is an important step forward in our court-supervised process, which is intended to fairly and transparently address the Company's legacy legal liabilities. I would like to thank our team for their continued hard work and dedication as we move forward with our asset sale process."
CV Sciences, Inc. (OTCQB: CVSI) a preeminent supplier and manufacturer of hemp CBD products, recently announced further expansion of its industry-dominating PlusCBD™ Oil brand with The Kroger Co.
The Company's expanded retail distribution includes the launch of CV Sciences' new PlusCBD Oil™ Roll-Ons in 945 Kroger stores across many of its retail banners, including Kroger, Dillons, Fry's, Fred Meyer, King Sooper, Mariano's, Pick 'n Save, QFC and Smiths locations in 17 U.S. states. PlusCBD™ Oil Roll-On, available in 200mg CBD and Extra Strength 500mg formulations, is infused with concentrated CBD from agricultural hemp plant parts, warming camphor and cooling menthol. Made with its Gold Formula concentrated full spectrum hemp extract, the Roll-Ons offer high intensity support in an easy-to-use application. The Company's best-selling PlusCBD™ Oil Extra Strength and Original Balms are also available at the participating Kroger locations. To meet consumer expectations of clean ingredients, all PlusCBD™ Oil topical products contain no phthalates, sulfates or parabens and are made without artificial dyes or scents.
Sorrento Therapeutics, Inc. (NASDAQ: SRNE) recently announced that it is exploring the possibility of an initial public offering of its majority-owned subsidiary, Scilex Holding Company. No decisions have been taken at this point on the structure or timing of any initial public offering, and no assurance can be given that an initial public offering will be pursued or completed.
Sorrento also recently announced that it has formed a Chinese joint venture, Shenzhen Yunma Biotechnology Co., Ltd., with LifeTech Scientific Co., Ltd. to commercialize Sorrento's proprietary water soluble cannabidiol (CBD) formulation technologies for consumer and pharmaceutical applications in Asia (excluding Japan). In addition, Shenzhen Yunma's subsidiary, Yunnan Masheng Health Science Co., Ltd., has obtained a Yunnan industrial hemp plantation permit, as well as governmental pre-approval to establish an industrialized processing, CBD extraction and isolation operation in Kunming (Yunnan Province, China). Sorrento holds 40% of the equity in the Shenzhen Yunma joint venture and LifeTech holds the remaining 60% of the equity.
Neptune Wellness Solutions Inc. (TSX: NEPT.TO) (NASDAQ: NEPT) has recently entered into a definitive long-term agreement to provide extraction, formulation and packaging services to The Green Organic Dutchman Holdings Ltd. ("TGOD"). Neptune will extract and purify cannabinoids and terpenes from cannabis and hemp biomass received from TGOD. These extracts will be transformed into premium certified organic finished products.
Under the terms of the contract, TGOD has committed to supply more than 230,000 kilograms of cannabis and hemp biomass to Neptune spanning a three-year period. Volumes are expected to be back-end loaded with the first year accounting for approximately 20% of the total volumes of the contract.
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