Cannabis Prospect Magazine

CANNABIS PROSPECT MAGAZINE VOL. 5, ISSUE 1

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Cannabis Prospect Magazine assumes no responsibility for any claims or representations contained in the magazine or in any advertisement. All materials contained are for educational purposes and intended for the legal marijuana business. Cannabis Prospect does not encourage the illegal use of any of the products contained within. ISSN 2562-1033.

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Cliff Persaud

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MediPharm Labs Corp. to Acquire VIVO Cannabis Inc.

MediPharm Labs Corp. and VIVO Cannabis Inc. have entered into a definitive arrangement agreement whereby MediPharm has agreed to acquire VIVO in an all-equity business combination transaction. The transaction is expected to combine two highly complementary businesses, creating a unique and market differentiating international medical cannabis leader. Upon the completion of the transaction, existing MediPharm shareholders are expected to own between 65% and 79% of the combined company resulting from the transaction (the “Combined Company”) and VIVO shareholders are expected to own between 35% and 21% of the Combined Company.

SNDL and Nova Cannabis Announce Transformational Strategic Partnership

SNDL Inc. and Nova Cannabis Inc. have entered into an agreement to implement a strategic partnership creating a well-capitalized cannabis retail platform in Canada under a vertical integration model with SNDL’s upstream capabilities. SNDL will vend into Nova’s cannabis retail business its existing 26 cannabis retail stores under the Spiritleaf and Superette banners located in Ontario and Alberta. Nova will also have a right of first refusal on SNDL’s Canadian cannabis retail pipeline. Similarly, the existing management and administrative services agreement between SNDL’s subsidiary, Alcanna Inc. and Nova is being amended and restated to refresh and maintain the arrangement with SNDL.

B.C. Indigenous Cannabis Business Fund Launched, Creating New Opportunities for First Nations in the Cannabis Industry

First Nations partners in British Columbia, alongside federal and provincial governments, announced the launch of the B.C. Indigenous

High Tide Enters New Vertical in the United States With Launch of Cannabis Seeds

High Tide Inc., a retail-focused cannabis company with brickand-mortar as well as global e-commerce assets, has begun selling cannabis seeds in the U.S., initially through its wholly owned subsidiaries Grasscity and Smoke Cartel. The company plans to expand seed sales to additional online retail platforms within its portfolio in 2023. This launch comes on the heels of the American Drug Enforcement Agency’s recent official determination that cannabis seeds fall under the legal definition of hemp and can therefore be sold openly in the U.S. “With our entry into this new and exciting complementary vertical, we continue to extend and strengthen our integrated value chain, providing our customers with a complete cannabis experience, in addition to the opportunity to further enhance our consolidated gross margin profile. This new business venture will greatly expand our U.S. customer base,” said Raj Grover, President and Chief Executive Officer of High Tide.

Cannabis Business Fund, helping to increase representation in the regulated cannabis industry. This new Indigenous-led fund was announced by Regional Chief Terry Teegee, BC Assembly of First Nations, the Task Group for the First Nations Summit, Jean-Yves Duclos, Federal Minister of Health, Patty Hajdu, Federal Minister of Indigenous Services, and Mike Farnworth, British Columbia Minister of Public Safety and Solicitor General. The B.C. Indigenous Cannabis Business Fund will support First Nations communities and Indigenous businesses in British Columbia that want to increase their participation in, or join, the regulated cannabis industry. The fund will provide business planning and advisory services, and help Indigenous businesses or First Nations cover the costs of licensing and permitting. It will also make available capital to support the launch or expansion of businesses.

Health Canada Finalizes Amendments on Cannabis Research and Testing, and Cannabis Beverages

Health Canada announced that amendments to the Cannabis Act and its regulations concerning cannabis research and testing, and cannabis beverages have been approved and are now in force as of December 2, 2022. These amendments follow extensive engagement with stakeholders, universities, researchers, health authorities, cannabis industry associations, cannabis licence holders, provinces, territories, and the public. They aim to facilitate research and testing, and also amend the public possession limit for cannabis beverages to bring it in line with other cannabis products. Notably, these amendments (1) increase the public possession limit for cannabis beverages to a level that is similar to other forms of cannabis, (2) change how Health Canada regulates non-therapeutic cannabis research with human participants, (3) allow analytical testing licence holders and federal and provincial government laboratories to produce, distribute and sell reference standards and test kits, to increase access to cannabis testing materials and thereby support access to a quality-controlled supply of cannabis; and (4) broaden the educational qualifications for the Head of Laboratory, a position that is required for an analytical testing licence and is responsible for all cannabis testing activities that occur at the licensed site.

Truss Beverage Co. Selects Protonify as Supplier for THC-Infused Beverages

Protonify Corporation, a global provider of high-purity cannabinoid ingredients, announced that Truss Beverage Co., a joint venture between affiliates of Molson Coors Canada and HEXO Corp., has selected Protonify as a supplier of high-purity THC for its cannabis-infused beverage lines. Protonify was approached by Truss to supply higher-purity THC for products in its cannabis beverage line. “As the leading cannabis beverage company in Canada, Truss has always been committed to delivering the highest quality and most consistent products for legal aged consumers,” said Vladimir Zhuravel, Head of Operations at Truss Beverage Co. “We believe purity is important for our consumers and Protonify’s high-purity THC was a step-change improvement for us.” Cannabis beverages sales in Canada continue to grow as consumers discover the benefits of ingestion over inhalation.

Atlas Global Brands Inc. Completes RTO with Atlas Growers Ltd., AgMedica Bioscience Inc., and Cambrosia Ltd.

Atlas Global Brands Inc. announced the successful completion of its previously announced business combination, pursuant to a reverse take-over transaction, with each of Atlas Biotechnologies Inc., AgMedica