Cannabis Licensed operators – MJ Shareholders

Phyto Extractions Submits Application for Dried Cannabis Flower Sales Licence

MJ Shareholders — Thu, 19 Aug 2021 18:05:34 +0000

The licence amendment would allow Phyto’s wholly owned Health Canada licenced subsidiary, Adastra Labs Inc. (“Adastra“), to leverage its agricultural product fulfillment capabilities to package, produce and sell dried flower based products across Canada, which would open the pathway to higher profit margins by eliminating the necessity to sell to other licence holders.

Michael Forbes, CEO and a director of Phyto, states, “The ability to sell dried cannabis products directly to provincial distributors and retailers represents a major milestone in the development of Phyto’s growth-oriented business plan. Direct sales will increase margins and provide critical access to retail space as flower and pre-rolls represent the largest cannabis market segments in Canada while bringing more eyes to our brands.”

Dried Cannabis products are in high demand from provincial distributors and medical clients. Sales continue to dominate the legal Canadian recreational market, accounting for roughly three quarters of all sales and totaling over $2 billion in 2020.¹

“We intend to leverage Phyto’s brand awareness and sales momentum in the concentrates space to commercialize dried cannabis products under the brand to drive topline revenue with these high gross margin products,” said Donald Dinsmore, COO, Corporate Secretary and a director of Phyto.

About Phyto Extractions and Adastra Labs Inc.

Founded in 2014, Phyto Extractions built a successful reputation as a household name in cannabis concentrates among consumers and retailers alike. Adastra Labs Inc. was founded in 2018 and is an agricultural-scale cannabis extraction, distillation, and product manufacturer, located in Langley, BC. Operating out of its 13,000 sq. ft. Health Canada Licensed Standard Processing facility, now named Phyto Extractions Inc., the Company produces and distributes cannabis-derived products, designed for medical cannabis and forward-looking therapeutic use. As a leading supplier, Phyto Extractions currently distributes its product-line to 1400+ adult-use retailers and a web-based medical platform, CannMart Inc., across the country seeking to provide consistent, quality concentrate products and alternative treatment options to patients.

To learn more about the Phyto Extractions team, please watch the following video: https://youtu.be/mtC9QicyeuI

ON BEHALF OF THE BOARD
PHYTO EXTRACTIONS INC. (CSE: XTRX)

Forward-Looking Information:

This news release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements with respect to: (i) the approval of the licence amendment by Health Canada; (ii) Adastra leveraging its agricultural product fulfillment capabilities to sell dried flower based products directly to provincial distributors and retailers across Canada; (iii) direct sales of products to distributors and retailers resulting in higher profit margins for Phyto; and (iv) Phyto leveraging its brand in the concentrates space to commercialize dried cannabis products to increase toplines revenues. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward looking information, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; and (iii) other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

The Canadian Securities Exchange has not reviewed or approved of any contents of this news release.

SOURCE Phyto Extractions Inc.

For further information: Michael Forbes, CEO and Director (Chairman), Phone: 778-715-5011, Email: [email protected]

NewLake Capital Partners, Inc. Closes Initial Public Offering

MJ Shareholders — Mon, 16 Aug 2021 22:33:06 +0000

Ryan Allway

August 16th, 2021

NEW CANAAN, Conn., Aug. 16, 2021 (GLOBE NEWSWIRE) — NewLake Capital Partners, Inc. (the “Company”), a leading provider of real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third party purchases and funding for build-to-suit projects, today announced that it has closed its initial public offering of 3,905,950 shares of common stock at an initial public offering price of $26.00 per share. Settlement of the offering occurred on August 13, 2021. The Company expects its shares to become quoted on the OTCQX® Best Market operated by OTC Markets Group, Inc. shortly following the closing of the offering.

The Company contributed the net proceeds from this offering to its operating partnership. The operating partnership intends to use the net proceeds to acquire the Company’s target assets in a manner consistent with the Company’s investment strategy.

Ladenburg Thalmann & Co. Inc., Compass Point Research & Trading, LLC and Loop Capital Markets LLC served as placement agents for the offering.

A registration statement on Form S-11, including a prospectus, has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from Ladenburg Thalmann & Co. Inc. at [email protected] or (212) 409-2000.

About NewLake Capital Partners, Inc.

NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases and funding for build-to-suit projects. As of June 30, 2021, NewLake owned a portfolio of 27 cultivation facilities and dispensaries utilized in the cannabis industry that were leased to single tenants on a long-term triple-net basis.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements.” Forward-looking statements can be identified by words like “may,” “will,” “likely,” “should,” “expect,” “anticipate,” “future,” “plan,” “believe,” “intend,” “goal,” “project,” “continue” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs and expectations. Forward-looking statements, including statements regarding the use of proceeds of the initial public offering, are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward- looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, changes in the condition of the U.S. economy and, in particular, the U.S. real estate market.

Investor Contact:

Valter Pinto, Managing Director
KCSA Strategic Communications
[email protected]
PH: (212) 896-1254

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.