Marijuana Business Magazine July 2019

July | mjbizdaily.com 25 and Matthew Shalhoub, co-founder and managing partner of Green Acre Capital. The company pledges to donate 10% of all profits to causes that matter to its consumers and local communities. WeedMD to Convert Aylmer Facility Into Extraction and Processing Hub WeedMD , a federally licensed producer and distributor of medical-grade cannabis, is converting its fully licensed, 26,000-square-foot facility in Aylmer, Ontario, to a large-scale cannabis extraction and processing operation. The facility will have a capacity of more than 441,000 pounds (200,000 kilograms) of biomass by 2020. Rubicon Organics Announces Financing and Options Rubicon Organics in Vancouver, British Columbia, entered into an agreement to borrow $3.7 million (CA$5 million) from an overseas fund. The company is a licensed producer with operations in Canada, Washington state and California. Together with other debt financing, the company has secured $10.6 million (CA$14.4 million) in financing to fund operations. Moosehead and Sproutly Partner Moosehead , the largest fully Canadian-owned brewery, is partnering with Sproutly Canada to make nonalcoholic, cannabis-infused beverages. Moosehead and Sproutly each will hold 50% ownership. Vancouver, British Columbia-based Sproutly will provide its own cannabis for the joint venture from its facility in Scarborough, Ontario. Matthew Oland, one of the brewery’s senior executives, has been appointed the first CEO of the joint venture. Sproutly will be responsible for appointing the first board chair. Moosehead will provide infrastructure such as research and development, operations, procurement, finance and distribution, leaving Sproutly to provide the technology to make cannabis beverages in Canada. 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.) •LAND & BUILDINGS •DISPENSARIES •EQUIPMENT •PRINCIPAL HOME FINANCING •SOFTWARE CALL ABBY (813) 310-3696 ABBY@WATERFALL-CAPITAL.COM FAST – EFFICIENT – SAFE WATERFALL CAPITAL MARIJUANA FRIENDLY FINANCING