Marijuana Business Magazine October 2018

The deal, valued at $105 million (CA$136.5 million), will enable the firm to enter Florida’s medical cannabis market. Toronto-based Scythian has investments and partnerships in South America, the Caribbean, Europe and the United States. The company will be renamed Sol Global Investments Corp. Vancouver Investment Company Buys Oregon Edibles Maker Vancouver, British Columbia-based C21 Investments acquired Oregon’s Grön Chocolate in a deal worth up to $11.2 million (CA$14.5 million). The acquisition is C21’s sixth this year. Other agreements include Silver State Relief in Nevada as well as Oregon MJ businesses Eco Firma Farms, Phantom Farms and Swell. Show of Force Toronto-based GrowForce Holdings has closed a fund- ing round of $29.1 million (CA$38 million). Capital from the equity raise will be used to expand the company’s cultivation operations and for strategic acquisitions. The raise is tied to GrowForce’s plans to go public via a reverse takeover of Toronto-based Platform Eight Capital . For the offering, Cormark Securities and Canaccord Genuity Corp. acted as co-lead agent, together with a syndicate of agents, including Haywood Securities, KES 7 Capital and Mackie Research Capital Corp. Fire Power and Flower Power Fire & Flower , a cannabis retail company, closed a convertible debenture capital raise of $20.91 million (CA$27.32 million) in August. AltaCorp Capital and Richardson GMP acted as co-lead agents for the offering. Fire & Flower will use the funding for expansion and building out its stores in Alberta and Saskatchewan as well as working capital and general corporate purposes. Spinning Invictus Invictus , a Vancouver- based cannabis company that trades on the TSX Venture Exchange, will spin off wholly owned subsidiary Poda Technologies , a vaporizer design and manufacturing firm with operations in the United States. As a stand-alone entity, Poda will be valued at about $1.5 million (CA$1.9 million). Invictus made the move to avoid possibly running afoul of TMX Group, operator of the TSX Venture Exchange, which has warned that publicly traded firms with holdings in the United States could be delisted because of marijuana’s federally illegal status there. Invictus also announced that its wholly owned subsidi- ary, Acreage Pharms in Alberta, received an amended license from Health Canada to produce bottled cannabis oil and cannabis resin. Isodiol Athletes Program Vancouver-based Isodiol International is seeking to boost its footprint in the CBD athletics space by partnering with a professional track-and-field training school that counts former Olympians among its clients. Under the partnership, Isodiol is paying the Altis training center $225,000 to estab- lish a “living lab” and market its products to the roughly 100 athletes who train at the Arizona facility or remotely. The training program will use the Iso-Sport line of tinctures, balms and water in research with participating athletes, though any use by the athletes would be volun- tary, an Isodiol spokesperson said. The World Anti-Doping Agency removed cannabidiol from its list of banned substances in 2017, clearing athletes in the Olympics and other global competitions to use CBD. British Columbia Grower Gets Sales License Tantalus Labs , a licensed producer in British Columbia that already has a cultivation license, obtained a permit from Health Canada to sell medical cannabis. Tantalus, which was founded in 2012, finished construction of its state- of-the-art greenhouse in 2017; it will offer five cannabis strains to start. Aurora Buys Greenhouse Adviser Aurora Cannabis signed a letter of intent to acquire the cannabis business of HotHouse Consulting , a provider of advanced greenhouse consulting services. Terms weren’t disclosed. Founded in 2004, HotHouse specializes in hybrid greenhouse growing techniques and large-scale cannabis production. Aurora also launched an international medical research project with McGill University in Quebec that will examine the therapeutic impact and human health outcomes of CBD oil as a therapy for chronic pain and related anxiety and depression. ◆ Have a company announcement you want us to consider? Send a news release or general information to OmarS@MJBizDaily.com. (Note: We’re looking for news about expansions, financing, deals, partnerships and similar developments, not product-related announcements.) October 2018 • Marijuana Business Magazine • 111