Marijuana Business Magazine August 2019

Marijuana Business Magazine | August 2019 22 Company News | U.S. & Canada public of $6.15 per unit for a total of $8 million. Each unit issued in the offering consisted of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $6.4575 per share. The common stock and warrants began trading on the Nasdaq Capital Market on June 21. Grown Rogue Partners With Inferno Gardens Grown Rogue International , a vertically integrated, multistate cannabis company with licenses and assets in California and Oregon, announced a binding agreement to expand into Michigan through an acquisition and partnership with Inferno Gardens in the town of Muskegon. Subject to state regulatory approval, Grown Rogue will make a one-time payment of $250,000 in exchange for a 51% ownership of Inferno Gardens, whose assets include the local approval for one retail dispensary and a 24,000-square-foot indoor manufacturing facility that will include both cultivation and processing when fully constructed. The facility is slated to be completed by the end of the year. Grown Rogue also will provide a loan of up to $2 million for development of the facility and will have the right to purchase the remaining 49% of Inferno Gardens. Indiva Advisors Acquires Missouri Cannabis CPA Indiva Advisors , a CPA firm with offices in Las Vegas and San Diego, has acquired Missouri Cannabis CPA in St. Joseph, Missouri. Indiva Advisors is dedicated to the cannabis and hemp industries and assists business owners and C-suite executives by providing guidance on financial, transactional and general business matters. Missouri Cannabis CPA specializes in working with small business owners on tax, accounting, payroll and other financial areas. U.S. DEVELOPMENTS CANADA DEVELOPMENTS PAX Partnerships San Francisco-based vaporizer company PAX Labs struck partnerships with some of Canada’s biggest licensed producers: Aphria , Aurora Cannabis , Organigram Holdings and The Supreme Cannabis Co. As brand partners, the licensed producers will offer products from their various brands in pods compatible with the PAX Era vape pen. The PAX Era will be available in Canada later this year, in accordance with the legislation of cannabis extracts, topicals and edibles. Harvard Atlas Partnership Harvard University is partnering with Alberta, Canada-based Atlas Biotechnologies to spearhead what participants are calling one of the largest international efforts to research medical cannabis. Atlas will initially be the sole supplier of marijuana and its derivatives for the research. The new International Phytomedicines and Medical Cannabis Institute will be based at Harvard Medical School in Boston. Seed funding for the program is being provided by Brigham and Women’s Hospital and the Dana-Farber Cancer Institute, both based in Boston, as well as by industry participants. Industry partners so far include Atlas, Flavocure Biotech of Baltimore, Cannabis Science of Colorado Springs, Colorado, and the con- sortium Locker Room Consulting-Nestre-Primative . Atlas has committed $2.2 million (CA$3 million) to the research program. PharmaCielo Acquisition PharmaCielo in Toronto agreed to purchase Creso Pharma , an Australian-traded cannabis oil producer, for $85 million (122 million Australian dollars). PharmaCielo is the parent of PharmaCielo Colombia Holdings , a producer of medical cannabis oils in Colombia. Creso Pharma, which has cultivation facilities in Canada, Colombia and Israel, specializes in research, development and production of therapeutic, nutraceutical and animal health products, mainly in Switzerland. Its products are sold in 13 countries.