Health and Wellness – MJ Shareholders https://mjshareholders.com The Ultimate Marijuana Business Directory Fri, 09 Dec 2022 18:36:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 The Addition of Three Mental Health Clinics to Irwin Naturals’ Florida Footprint Solidifies the Companies Impact as One of the Fastest-Growing Chains of Mental Health Clinics https://mjshareholders.com/the-addition-of-three-mental-health-clinics-to-irwin-naturals-florida-footprint-solidifies-the-companies-impact-as-one-of-the-fastest-growing-chains-of-mental-health-clinics/ Fri, 09 Dec 2022 18:36:34 +0000 https://www.cannabisfn.com/?p=2971535

Ryan Allway

December 9th, 2022

Psychedelics, Top News


Company continues to expand its national network of psychedelic mental-healthcare clinics

LOS ANGELES, Dec. 09, 2022 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) completed the acquisition of the assets of Clare Clinic, Inc., d/b/a Florida Mind Health Center.

The Company entered into an acquisition agreement (the “Agreement”) dated October 30, 2022 with Clare Clinic, Inc., d/b/a Florida Mind Health Center, which serves clients out of three healthcare clinics in located in Gainesville, Tallahassee and Panama City, Florida.

The clinics join Irwin Naturals Emergence, a fast-growing national chain offering psychedelic mental healthcare that now includes 8 clinics in Florida.

Klee Irwin, CEO of Irwin Naturals, said “Our roll-up is quickly gathering momentum. This is the eighth ketamine clinic we are adding to our growing portfolio in Florida and is part of our 17 clinics which we have either acquired or have a definitive agreement to acquire in the near future, in over ten states. Our mission is to make this amazingly effective treatment available and accessible throughout the country and beyond. We continue to add to our bottom line through these highly accretive transactions as we focus on acquiring profitable operations.”

Zohar Levites, CRNA, ARNP, MS, founder of Florida Mind Health Center, said “We are very excited to be merging with Irwin Naturals and to be a part of something bigger in a field that could transform the way disorders are treated in Florida and nationwide. As a partner of Irwin Naturals Emergence, we will be able to offer cutting-edge services and compassionate care under the name of a household brand with decades of trust among customers.”

Building a national chain will create some efficiencies and the cost-benefits that come from economies of scale. The incorporation of Irwin Naturals best practices over time will also help drive down operating costs, savings that can be passed on to customers by providing sliding-scale discounts.

Transaction terms

As consideration for the asset purchase, Irwin Naturals will provide sellers cash payments as well as 1,500,000 subordinate voting shares upon closing. Furthermore, the transaction includes an additional contingent consideration based on future milestones related to operational and profitability targets to be satisfied in shares.

About Irwin Naturals

Irwin Naturals has been a household name and best-in-class herbal supplement formulator since 1994. It is now leveraging its brand to enter into both the cannabis and psychedelic industries. On a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years.1 Irwin’s growing portfolio of products is available in more than 100,000 retail doors across North America, where nearly 100 million people know the Irwin Naturals brand.2 In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust with an objective to become one of the first household name brands to offer THC-based products and psychedelic mental health treatment. Irwin Naturals became a publicly traded company on the Canadian Securities Exchange (CSE) in August 2021. The Company’s shares began to be traded on the OTCQB Venture Market in November 2021. More information on the Company’s stock can be found via Bloomberg as well as the Wall Street Journal.

For investor-related information about the Company, please visit ir.irwinnaturals.com/

To contact the Company’s Investor Relations department, please call toll-free at (800) 883-4851 or send an email to [email protected].

Klee Irwin
________________________________
Klee Irwin
Chief Executive Officer
T: 310-306-3636
[email protected]

IR Information

Press Contact

Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
[email protected]

Regulatory Overview

The following is a brief summary of regulatory matters concerning ketamine in the United States (“US”). Under the Controlled Substances Act (21 U.S.C. § 811) (the “CSA”), ketamine is currently a Schedule III drug as well as being listed under the associated Narcotic Control Regulations and psilocybin is currently a Schedule I drug.
Most US States have enacted Controlled Substances Acts (“State CSAs”) which regulate the possession, use, sale, distribution, and manufacture of specified drugs or categories of drugs and establish penalties for State CSA violations and form the basis for many state and local drug laws enforcement activity. State CSAs have either adopted drug schedules identical or similar to the federal CSA schedules or, in some instances, have incorporated the federal scheduling mechanism. Among other requirements, some US States have established a prescription drug monitoring or review programs collect information about prescription and dispensing of controlled substances for the purposes of monitoring, analysis and education.

In the United States, facilities holding or administering controlled substances must be registered with the US Drug Enforcement Agency (“DEA”) to perform this activity. As such, medical professionals and/or the clinics in which they operate, as applicable, are also required to have a DEA license to obtain and administer ketamine (a “DEA License”). While ketamine is a controlled substance in the United States, it is approved for general anesthetic induction under the US Food, Drug, and Cosmetic Act. Once a drug is approved for use, physicians may prescribe that drug for uses that are not described in the product’s labeling or that differ from those tested by the manufacturer and approved by the Food and Drug Administration (the “FDA”). Licensed medical practitioners may prescribe ketamine legally in Canada or the United States where they believe it will be an effective treatment in their professional judgment.

Please see Irwin’s filing statement on its SEDAR profile for more information on the regulatory environment and regulations surrounding the US ketamine industry.

Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, “objective,” or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements in this news release include statements related to information concerning the ability of the Company to perform the terms of the transaction referenced herein; the receipt of all necessary approvals, including regulatory approvals; expectations for other economic, market, business and competitive factors; and the Company actually entering into and doing business in the U.S. cannabis and psychedelics markets. The potential entrance by the Company into these new business segments are in their preliminary stages and may be subject to approval from the board of directors of the Company as well as any regulatory approval, including that of the Canadian Securities Exchange. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: board and regulatory approval, including the approval of the Canadian Securities Exchange; Irwin being able to acquire and/or enter into business relationships to enter into these new markets; the Company obtaining the required licenses; and changes to regulations and laws regarding cannabis or psychedelics. Further information on the regulatory environment and risks will be contained in future disclosures. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from that which are expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Irwin Naturals Inc.

__________________________________

1 Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
2 Consumer brand recognition information is based on a Company survey with a sample size of 500 randomly selected adults.

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.


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Silo Pharma Issues Letter to Shareholders Detailing Progress on Pipeline Assets Combining Traditional Therapeutics with Psychedelic Medicine https://mjshareholders.com/silo-pharma-issues-letter-to-shareholders-detailing-progress-on-pipeline-assets-combining-traditional-therapeutics-with-psychedelic-medicine/ Thu, 01 Dec 2022 18:33:36 +0000 https://www.cannabisfn.com/?p=2970447

Ryan Allway

December 1st, 2022

Psychedelics, Top News


ENGLEWOOD CLIFFS, NJ, Dec. 01, 2022 (GLOBE NEWSWIRE) — Silo Pharma, Inc. ( Nasdaq: SILO ) (“the Company”) , a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, today issued a letter to shareholders highlighting the Company’s progress and potential for its portfolio of novel, IP-protected technologies and assets developed in collaboration with world-class medical research partners. The letter, in its entirety, is reprinted below.

Dear fellow Silo Pharma shareholders,

The healthcare market continues to build momentum as science and technology lead to new developments for therapeutics. Nowhere is this more evident than in the growing body of scientific research supporting the therapeutic potential of psychedelics. More than ever, alternative new therapies for numerous diseases and mental health disorders are needed to address the health challenges of today.

Our Company, Silo Pharma, Inc. (Nasdaq: SILO) is working diligently to make further advances in the medical and psychedelic space. To date, the research conducted has shown encouraging promise in the delivery, efficacy, and safety of our pipeline therapeutics and technologies.

This has been an exciting year where we have achieved numerous milestones and anticipate upcoming updates as our pipeline progresses. The purpose of this letter is to provide shareholders with an update on our current business. With over $12 million in cash, we are prepared to advance our pipeline, and believe, with our strong balance sheet, no debt, and recent listing on Nasdaq, that we are in a position to further advance the Company and create shareholder value.

Valuable Intellectual Property and Collaboration

We are focused on advancing traditional therapeutics with psychedelic research to treat underserved large markets. We believe that our novel IP-protected technologies and assets, developed in collaboration with world-class medical research partners, offer disruptive market potential.

The unique assets in our portfolio are well protected with issued and numerous provisional patents pending. We obtained these assets through exclusive drug development collaborations, including a joint venture with Zylö Therapeutics, Inc.; a license and option agreement and an investigator-sponsored study agreement with the University of Maryland, Baltimore; a sponsored study agreement and a licensing option agreement with Columbia University; and a sponsored research agreement with the University of California, San Francisco.

Several of our therapeutics may qualify us to pursue the FDA’s streamlined 505(b)(2) regulatory pathway for drug approval. This new drug application (NDA) process avoids unnecessary duplication of studies already performed on a previously approved drug, potentially saving clinical time and providing significant cost savings.

Potentially Transformative Assets with Disruptive Market Opportunity

SP-26 — F ibromyalgia

With our joint venture with Zylö Therapeutics, we are developing ketamine for sustained release which utilizes our partner’s Z-pod® technology, a topical drug delivery system developed at the Albert Einstein College of Medicine. Preclinical studies have already shown that the Z-pod can hold and distribute our proprietary ketamine formulation in a time-released manner. Topical administration of ketamine using this technology (designated as SP-26 by Silo Pharma) yielded neuropathic nerve pain reduction in a small animal study — positive results that could be promising for patients suffering from fibromyalgia, our initial indication. A safety evaluation study is currently underway to determine the maximum tolerated dosing data to be utilized in future trials.

We recently began working with our regulatory partner to prepare a pre-Investigational New Drug (IND) package for submission to support getting SP-26 into the clinic.

SPU-16 — M ultiple S clerosis (MS)

Last year, we entered into a license agreement with the University of Maryland, Baltimore (UMB) to examine a patented novel homing peptide for CNS also known as central nervous system (CNS) homing peptides (SPU-16), designed to access through the blood-brain barrier and then home to specific damaged tissue. Animal study results of the homing peptides have shown potential improved delivery of therapeutics and decreased toxicity. Our initial indication is MS.

SPU-21 — R heumatoid A rthritis (RA)

Under a separate commercial evaluation license agreement (CELA) with UMB, we are exploring the use of joint homing peptides (SPU-21) to deliver targeted therapeutics for the treatment of rheumatoid arthritis (RA), an autoimmune disorder. SPU-21 has been shown to inhibit arthritic progression in a preclinical animal model.

SPC-14 — Alzheimer’s Disease (AD)

Last year, we entered a CELA with Columbia University for two therapeutics. The agreement includes an option to license an Alzheimer’s disease therapeutic currently under development.

We recently announced proof-of-concept data supporting the therapeutic potential of this drug candidate (SPC-14) as a treatment for Alzheimer’s disease, as demonstrated in a mouse model. With safety data already available from the FDA-approved therapeutics in the compound, we believe that SPC-14 should be eligible for development under the FDA’s 505(b)(2) regulatory pathway.

SPC-15 — Stress Induced anxiety disorder and PTSD

Our second study with Columbia University examines a targeted prophylactic using ketamine compositions as a method of treatment and prevention for stress-induced affective disorders including post-traumatic stress disorder (PTSD). This treatment (SPC-15) predicts levels of severity or progression of such disorders, and their metabolomic biomarkers response to pharmacological treatments. Based on the research to date, SPC-15 could have an impact on treating stress and anxiety disorders.

Clinical S tudy — E ffects of P silocybin on I nflammatory A ctivity

We have sponsored a clinical study on the effects psilocybin may have on inflammation in the body under a sponsored research agreement with the University of California San Francisco. The study aims to support the implementation of psilocybin as a potential therapeutic for inflammation. The data from this study could provide support for the anti-inflammatory effect of psilocybin.

Therapies Target Underserved Medical Markets

The burgeoning psychedelic drugs market was valued at $2.8 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 17% to $9.8 billion in 2029. Against this landscape, the disease targets for our drug candidates represent large, underserved medical markets. Following are some facts and figures.

  • Our initial indication for SP-26 is fibromyalgia , a disorder affecting about 4 million American adults, or about 2% of the adult population. It is a chronic condition causing pain to the connective tissues throughout the body including muscles, ligaments, and tendons. Musculoskeletal pain is often accompanied by sleep difficulties, fatigue, mood disorders, and problems with memory and concentration. According to Fortune Business Insights, the fibromyalgia treatment market is projected to grow from $764.1 million in 2020 to $1.4 billion in 2027, at a CAGR of 9.2% in the 2020-2027 period. 2
  • SPU-16 targets multiple sclerosis , a debilitating neurological condition that causes the disruption of signal transmitting by the nervous system. Damage to the nerve fibers may cause fatigue, numbness and tingling, weakness, poor coordination, pain, depression, and problems with memory and concentration. As the most widespread disabling neurological condition of young adults, MS affects nearly a million Americans and approximately 2.8 million people worldwide. A report by Fortune Business Insights states that the global multiple sclerosis drugs market is projected to grow from $25.4 billion in 2022 to $33.2 billion by 2029, at a CAGR of 3.9%. 3
  • SPU-21 targets rheumatoid arthritis , the most common autoimmune disease in the U.S. affecting around 1.5 million adults. RA is a systemic disease, but most often the immune system will attack the inner lining of the joints bringing pain, swelling, and stiffness that can be debilitating. A 2022 report published by Precedence Research states that the global rheumatoid arthritis drugs market size is expected to reach $70 billion by 2030 with a CAGR of 1.7% in that time period. 4
  • Targeted by SPC-14, Alzheimer’s disease is an irreversible, progressive brain disorder that is the leading cause of dementia in older adults. AD and related diseases affect more than 6.5 million Americans over the age of 65, or about one in every nine Americans aged 65+. The loss of memory from AD is due to plaque, tangles, or loss of connections within the neural brain cells, which can also affect language, reasoning, visual/spatial skills, and mood. According to Growth+ Reports, the U.S. market for AD drugs is growing at a CAGR of over 7% and is expected to reach $9.7 billion by 2031. 5

    Targeted by SPC-15, anxiety, PTSD, and other stress-related disorders are becoming more frequent in Americans aged 18+. According to the World Health Organization in 2019, 300+ million people were living with an anxiety disorder, and according to the National Center for PTSD, around 12 million adults in the U.S. alone are reported to have PTSD. 6 , 7 According to Fortune Business Insights, the global treatment market size for anxiety disorders and depression is projected to reach $13.0 billion in 2027.

Our financial position and balance sheet are strong with zero debt. We own intellectual property and technology rights. We believe our diversified therapeutic candidates have disruptive market potential and offer potentially groundbreaking treatment options for some of the most debilitating diseases and conditions.

We are deeply grateful to our shareholders and appreciate your continued support. We look forward to keeping you informed about the progress of our studies as we advance our programs toward the clinic. This is an exciting and transformative time for our Company.

With best regards,

Eric Weisblum
Chief Executive Officer

About Ketamine
Ketamine is an FDA-approved fast-acting general anesthetic administered through intravenous injection or nasal spray (milder form). Scientific research has shown that ketamine’s interactions with certain brain chemicals may be connected to its pain management, anti-inflammatory, and antidepressant effects. Since 2000, increasing research on ketamine has demonstrated significant results as a treatment for pain conditions including chronic neuro-inflammatory disorders and for mood disorders including depression, PTSD, and anxiety.

About Psilocybin
Considered a serotonergic hallucinogen, this substance is an active ingredient in some species of mushrooms. While classified as a Schedule I controlled substance under the Controlled Substances Act (CSA), there is an accumulating body of evidence that psilocybin may have beneficial effects on depression and other mental health conditions. The U.S. Food and Drug Administration (FDA) and the U.S. Drug Enforcement Agency (DEA) have permitted the use of psilocybin in clinical studies for a range of psychiatric conditions.

About Silo Pharma
Silo Pharma. Inc. is a development-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as PTSD, Alzheimer’s disease, and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the healthcare industry. For more information, visit www.silopharma.com.

Forward-Looking Statements
This communication contains forward-looking statements concerning the Company’s collaborations, business and development plans, and statements regarding the Company’s product candidates, their development, regulatory plans with respect thereto and therapeutic potential thereof, planned interactions with regulatory authorities, and planned clinical development. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the Company’s ability to raise the additional funding it will need to continue to pursue its business and product development plans, the inherent uncertainties associated with developing product candidates and operating as a development stage company, the Company’s ability to identify additional product candidates for development, the Company’s ability to develop, complete clinical trials for, obtain approvals for and commercialize any of our product candidates, competition in the industry in which the Company operates and market conditions. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in our Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission available at www.sec.gov. Any forward-looking statements contained in this press release speak only as of the date hereof, and we specifically disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact
800-705-0120
[email protected]

Data Bridge Market Research. September 2022
Fortune Business Insights; Fibromyalgia Treatment Market Size, Share and Trends. September 2022.
Fortune Business Insights; Multiple Sclerosis Drugs Market Size, Share… May 2022.
Precedence Research; Rheumatoid Arthritis Drugs Market, Report 2022-2030. June 2022.
Growth+ Reports; Alzheimer’s Drugs Market by Drug Type … Global Outlook & Forecast 2021-2031. March 2020.
World Health Organization; Mental disorders. June 2022.
U.S. Department of Veterans Affairs, PTSD: National Center for PTSD; How Common Is PTSD in Adults?

News Provided by GlobeNewswire via QuoteMedia

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-Coach

 

Joe Reda

Founder/Partner

The Special Equities Group “SEG”

 

One Wolfs Lane

Suite 316

Pelham, NY 10803

 

O: 212-258-2341

C: 516-521-1354

 

[email protected]

 

www.theseg.com

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.


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Delivra Health and its Brands LivRelief (TM) and Dream Water (TM) Report Continued Improvement in Adjusted EBITDA(1) Results for First Quarter of Fiscal 2023 https://mjshareholders.com/delivra-health-and-its-brands-livrelief-tm-and-dream-water-tm-report-continued-improvement-in-adjusted-ebitda1-results-for-first-quarter-of-fiscal-2023/ Mon, 28 Nov 2022 16:09:55 +0000 https://www.cannabisfn.com/?p=2970112

Ryan Allway

November 28th, 2022

News, Top News


Vancouver, British Columbia–(Newsfile Corp. – November 28, 2022) – Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) (formerly, Harvest One Cannabis Inc.) (“Delivra Health” or the “Company“) , a consumer packaged goods company uniquely positioned in the health and wellness sector, is pleased to announce its financial and operating results for the three months ended September 30, 2022.

Management Commentary

“The first quarter of fiscal 2023 reflects our continued progress of executing on our key objectives and creating shareholder value as we work towards achieving profitability. Despite a reduction in revenue this quarter due to the timing of customer ordering patterns, we improved our gross profit margin to 51% from 33%, in the comparable quarter last year. We also reduced selling, general and administrative (“SG&A“) expenses by 30% and further improved our adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA“)(1) to $(0.15) million from $(0.78) million in the same period last year, bringing our financial results closer to a breakeven position which is a milestone for a health and wellness company operating in a very competitive environment,” said Gord Davey, President and Chief Executive Officer of Delivra Health.

Mr. Davey continued, “Furthermore, our team has increased the distribution of our Dream Water products by partnering with over 2,400 Casey’s General Stores, as well as launching our new innovative six count gummies and Dream Water Immunity shots. We expect these initiatives to strengthen the Company’s business in the coming quarters.”

Financial Highlights

  • Net revenue: For the three months ended September 30, 2022, net revenue was $1.73 million compared to $2.13 million in the same period in the prior year. The $0.40 million or 19% reduction in net revenue was mainly due to a reduction in the sales of Dream Water™ in the US, which was driven by the timing of customer ordering patterns.
  • Gross profit and gross profit margin: For the three months ended September 30, 2022, the Company reported gross profit of $0.88 million and a 51% gross profit margin compared to $0.71 million and a 33% gross profit margin from continued operations in same period last year. This increase is attributed to changes in the Company’s customer and channel mix and operational improvements.
  • Expenses including SG&A and excluding non-cash items: For the three months ended September 30, 2022, the Company reported expenses of $1.04 million compared to $1.49 million in the same period last year, representing a 30% reduction for the quarter from continued operations. The reduction is mainly driven by lower sales and marketing expenses to conserve cash.
  • Adjusted EBITDA(1): For the three months ended September 30, 2022, the Company reported Adjusted EBITDA of $(0.15) million compared to $(0.78) million in the same period last year, representing a $0.63 million or 80% year over year improvement from continued operations. This reduction is driven by management’s efforts in focusing on margin improvement supported by efficient administrative and selling support functions.

Summary of Key Financial Results

For the quarter ended September 30
($000’s, except share and per share amounts) 2022 2021
Continued operations:
Net revenue $1,729 $2,130
Cost of sales 840 1,421
Inventory write-down 10
Gross profit 879 709
Gross profit margin 51% 33%
Expenses excluding non-cash expenses 1,043 1,487
Depreciation and amortization and share-based compensation (370) (686)
Loss from operations before other (expense) income (534) (1,464)
Other (expense) income 153 10
Net loss from continuing operations (381) (1,454)

Expenses exluding non-cash items

For the quarter ended September 30
($000’s, except share and per share amounts) 2022 2021
General and administration $964 $1,075
Sales and marketing 79 412
Total 1,043 1,487

Adjusted EBITDA (non-IFRS measure)(1)

For the quarter ended September 30
($000’s, except share and per share amounts) 2022 2021
Loss from operations $(534) $(1,464)
Inventory write-down 10
Depreciation and amortization 332 537
Share-based compensation 38 149
Adjusted EBITDA(1) (154) (778)

About Delivra Health Brands Inc.

Helping people take control of their health with alternative wellness solutions is what energizes the Delivra Health team! The Delivra Health portfolio features innovative brands like Dream Water™ and LivRelief™, which deliver relief from common everyday issues like chronic pain, anxiety, and sleeplessness. Delivra Health products have allowed millions of customers to reclaim their mobility, energy, and in turn, quality of life. The websites of the Company’s two subsidiaries are Dream Water™ and LivReliefTM. For more information, please visit www.delivrahealthbrands.com.

Non-IFRS Measures, Reconciliation and Discussion

This press release contains references to “Adjusted EBITDA” which is a non-IFRS financial measure. Adjusted EBITDA is a measure of the Company’s loss from operations before interest, taxes, depreciation, and amortization and adjusted for share-based compensation, common shares issued for services, fair value effects of accounting for biological assets and inventories, asset impairment and write-downs, and other non-cash items, and is a non-IFRS measure.

This measure can be used to analyze and compare profitability among companies and industries, as it eliminates the effects of financing and capital expenditures. It is often used in valuation ratios and can be compared to enterprise value and revenue. This measure does not have any standardized meaning according to IFRS and, therefore, may not be comparable to similar measures presented by other companies.

There are no comparable IFRS financial measures presented in Delivra Health’s financial statements. Reconciliations of the supplemental non-IFRS measure are presented in the Company’s Management Discussion and Analysis for the three months ended September 30, 2022. This non-IFRS financial measure is presented because management has evaluated the financial results both including and excluding the adjusted items and believes that the non-IFRS financial measure presented provides additional perspective and insights when analyzing the core operating performance of the business. The Company believes that the supplemental measure provides information which is useful to shareholders and investors in understanding the Company’s performance and may assist in the evaluation of the Company’s business relative to that of its peers.

The non-IFRS financial measure should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with the IFRS financial measures presented in the Company’s financial statements. For more information, please see “Adjusted EBITDA (non-IFRS measure)” and “Non-IFRS Measures” in the Company’s Management Discussion and Analysis for the three months ended September 30, 2022, which is available under the Company’s profile on www.sedar.com.

Notes:

  1. This is a non-IFRS reporting measure. For a reconciliation of this measure to the nearest IFRS measure, see “Adjusted EBITDA (non-IFRS measure)” and “Non-IFRS Measures” in the Company’s Management Discussion and Analysis for the three months ended September 30, 2022.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, among other things, statements with respect to the Company’s growth objectives, increasing revenues and profitability, growth in new markets, and new distribution partners.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: implications of the COVID-19 pandemic on the Company’s operations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the cannabis markets where the Company operates; changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; employee relations and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution, and sale of cannabis and cannabis-related products in the markets where the Company operates. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Additional information regarding this and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form dated March 2, 2021, and under the heading “Risks and Uncertainties” in the Company’s management’s discussion and analysis dated October 28, 2022, for the year ended June 30, 2022, filed under the Company’s profile on SEDAR at www.sedar.com.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.

Investor Relations:
Jack Tasse
Chief Financial Officer
[email protected]
1-877-915-7934

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.


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Doseology Goes National with Whole Foods Market https://mjshareholders.com/doseology-goes-national-with-whole-foods-market/ Fri, 25 Nov 2022 18:26:27 +0000 https://www.cannabisfn.com/?p=2970020

Vernon, British Columbia, November 25, 2022 – Doseology Sciences Inc. (CSE: MOOD) (OTCQB: DOSEF) (FSE: VU7) (“Doseology” or the “Company”), a life sciences company focused on mental health and wellness, is excited to announce that its functional mushroom supplements will soon be available nationally at all 14 top-tier Whole Foods Market Canada locations.

The Company has launched with 3 leading SKUs – the SLEEP, WAKE, and ELEVATE functional mushroom tinctures. Doseology’s products can currently be found in Whole Foods Market western retail locations in West Vancouver, North Vancouver, Vancouver, and North Burnaby, and will soon be in all Canadian retail locations.

“Whole Foods has a reputation as an industry leader with the highest standards, which makes them an ideal retail partner for our products. This placement will help us generate brand awareness and increase sales, while delivering health and wellness results for customers,” said Ralph Olson, CEO of the Company.

The line is made with 100% fruiting body mushrooms and adaptogenic plants, and is designed for wellness seekers interested in daily support for cognition, mood, immunity and relaxation.

Approximately 30% of Canadians suffer from a sleep disorder (The Sleep Foundation). Sleep affects mental health and physical well-being, and is linked to most mood disorders, including depression and anxiety (Provincial Health Services Authority). To address this issue, Doseology formulated its SLEEP tincture. The proprietary blend of reishi mushroom, chamomile and melatonin is a powerful tool that brings the body and mind into a restful state and improves sleep quality. Reishi mushroom (Ganoderma lucidum), also known as the “Mushroom of Immortality”, has been used for centuries to relieve stress and anxiety.

Mornings are supercharged with the Doseology WAKE tincture. It is an energising blend of lion’s mane mushroom, yerba mate and B vitamins to promote wakefulness and mental clarity. Wake was recently seen in Elle Gourmet’s “Four surprising wellness trends for 2023”.

The Doseology ELEVATE tincture features lion’s mane, the mushroom known for unlocking cognitive potential, and is formulated with a nutrient-rich dose of ginger and vitamin B3. These mindfully stacked ingredients act synergistically to offer support for overall mood.

On Behalf of Doseology Sciences Inc.
Ralph Olson
Chief Executive Officer

About Whole Foods Market

For more than 40 years, Whole Foods Market has been a leading natural and organic foods retailer. Whole Foods seeks out the finest natural and organic foods available, maintains the strictest quality standards in the industry, and has an unshakeable commitment to sustainable agriculture. Whole Foods has more than 500 stores in the US, Canada and the United Kingdom. It has 14 retail locations in Canada, of which 7 are in British Columbia, and 7 are in Ontario. Whole Foods is a subsidiary of Amazon (Nasdaq: AMZN).

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Irwin Naturals Emergence to Add Ohio Ketamine Clinic https://mjshareholders.com/irwin-naturals-emergence-to-add-ohio-ketamine-clinic/ Tue, 06 Sep 2022 15:13:34 +0000 https://www.cannabisfn.com/?p=2961085

Ryan Allway

September 6th, 2022

Psychedelics, Top News


Company announces agreement that will expand its national chain of health clinics into central Ohio

LOS ANGELES, Sept. 06, 2022 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) announced today that it has entered into a binding to agreement to acquire all of the membership interests in Happier You, LLC, which operates a ketamine clinic in central Ohio. This clinic will be added to Irwin Naturals Emergence, a fast-growing national chain of psychedelic mental-health clinics that has previously acquired 10 different clinics across a total of five states.

Klee Irwin, CEO of Irwin Naturals, said, “We are a first mover in this rapidly expanding sector of mental healthcare. By finding independent, financially sound clinics with exceptional customer care, we’re building a national chain that delivers on the quality of care that is embodied by the Irwin Naturals brand.”

Tara J. Dillon, founder of Happier You, said, “We built our practice out of the belief that it was not just possible, but necessary to ease the suffering of those people who had not been helped by traditional mental-health treatments. Becoming part of Irwin Naturals Emergence allows us to be part of a chain capable of making life-changing impact on a national scale.”

Happier You opened in 2020, founded by Tara Dillon, a registered nurse and family nurse practitioner. The clinic provides IV ketamine-infusion therapy, which is used to treat depression, anxiety as well as bipolar disorder, post-traumatic stress disorder (PTSD) and obsessive-compulsive disorder (OCD).

Irwin Naturals was founded in 1994, and has built itself into a brand recognized in 80 percent of American households1 with its best-in-class nutraceuticals, such as its famous “Power to Sleep PM.” Irwin Naturals products are stocked on the shelves of more than 100,000 storefronts in North America, and now that brand is moving to the forefront of this new frontier of healthcare.

Klee Irwin, CEO of Irwin Naturals, said, “We’ve earned customer trust through nearly 30 years of caring for their health needs. That makes us a familiar friend, providing assurance to consumers in this new area of care. Just being in this space speaks for both the safety and efficacy of this care.”

Irwin Naturals Emergence already includes clinics in Florida, Vermont, New Hampshire, Iowa and Georgia. By building this national chain of clinics, Irwin Naturals Emergence will drive down operating costs by incorporating its corporate best practices and the savings that come from the ability to buy in larger quantities. These savings can be passed on to consumers, and most importantly, broaden access for those in need through sliding-scale discounts or even pro bono treatment. This will enable the company to serve as a bridge as insurance plans catch up to the importance and power of these treatments.

Currently, ketamine is the only psychedelic available for use in the United States outside of clinical trials. However, MDMA and psilocybin may be authorized for therapeutic use in the future. The effectiveness of these treatments in clinical trials points to the possibility of further revolutionizing the field mental-health treatment. It is estimated that one in four Americans have what would be considered a diagnosable mental-health condition.

Transaction terms

The Agreement is subject to certain customary closing conditions and regulatory approvals. The total consideration is to be paid in a combination of cash and stock, with maximum payable contingent on a number of milestones related to profitability and operation goals. Further detail will be provided upon closing.

About Irwin Naturals

Irwin Naturals has been a household name and best-in-class herbal supplement formulator since 1994. It is now leveraging its brand to enter into both the cannabis and psychedelic industries. On a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years2. Irwin’s growing portfolio of products is available in more than 100,000 retail doors across North America, where nearly 100 million people know the Irwin Naturals brand.3 In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust with an objective to become one of the first household name brands to offer THC-based products and psychedelic mental health treatment. Irwin Naturals became a publicly traded company on the Canadian Securities Exchange (CSE) in August 2021. The Company’s shares began to be traded on the OTCQB Venture Market in November 2021. More information on the Company’s stock can be found via Bloomberg as well as the Wall Street Journal.

For investor-related information about the Company, please visit ir.irwinnaturals.com/

To contact the Company’s Investor Relations department, please call toll-free at (800) 883-4851 or send an email to [email protected].

Klee Irwin
________________________________
Klee Irwin
Chief Executive Officer
T: 310-306-3636
[email protected]

IR Information

Press Contact

Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
[email protected]

Regulatory Overview

The following is a brief summary of regulatory matters concerning ketamine in the United States (“US”). Under the Controlled Substances Act (21 U.S.C. § 811) (the “CSA”), ketamine is currently a Schedule III drug as well as being listed under the associated Narcotic Control Regulations and psilocybin is currently a Schedule I drug. Most US States have enacted Controlled Substances Acts (“State CSAs”) which regulate the possession, use, sale, distribution, and manufacture of specified drugs or categories of drugs and establish penalties for State CSA violations and form the basis for many state and local drug laws enforcement activity. State CSAs have either adopted drug schedules identical or similar to the federal CSA schedules or, in some instances, have incorporated the federal scheduling mechanism. Among other requirements, some US States have established a prescription drug monitoring or review programs collect information about prescription and dispensing of controlled substances for the purposes of monitoring, analysis and education.

In the United States, facilities holding or administering controlled substances must be registered with the US Drug Enforcement Agency (“DEA”) to perform this activity. As such, medical professionals and/or the clinics in which they operate, as applicable, are also required to have a DEA license to obtain and administer ketamine (a “DEA License”). While ketamine is a controlled substance in the United States, it is approved for general anesthetic induction under the US Food, Drug, and Cosmetic Act. Once a drug is approved for use, physicians may prescribe that drug for uses that are not described in the product’s labeling or that differ from those tested by the manufacturer and approved by the Food and Drug Administration (the “FDA”). Licensed medical practitioners may prescribe ketamine legally in Canada or the United States where they believe it will be an effective treatment in their professional judgment.

Please see Irwin’s filing statement on its SEDAR profile for more information on the regulatory environment and regulations surrounding the US THC industry.

Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, “objective,” or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements in this news release include statements related to information concerning the ability of the Company to perform the terms of the transaction referenced herein; the receipt of all necessary approvals, including regulatory approvals; expectations for other economic, market, business and competitive factors; and the Company actually entering into and doing business in the U.S. cannabis and psychedelics markets. The potential entrance by the Company into these new business segments are in their preliminary stages and may be subject to approval from the board of directors of the Company as well as any regulatory approval, including that of the Canadian Securities Exchange. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: board and regulatory approval, including the approval of the Canadian Securities Exchange; Irwin being able to acquire and/or enter into business relationships to enter into these new markets; the Company obtaining the required licenses; and changes to regulations and laws regarding cannabis or psychedelics. Further information on the regulatory environment and risks will be contained in future disclosures. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from that which are expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Irwin Naturals Inc.

1 Consumer brand recognition information is based on a formal Company survey with a sample size of 500 randomly selected adults.
2 Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
3 Consumer brand recognition information is based on a formal Company survey with a sample size of 500 randomly selected adults.

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.


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Bloomios to Develop and Produce New Range of Private-Label Products Utilizing, Ashwagandha, Melatonin, Kratom, Lion’s Mane, Valerian Root, Reishi Mushroom and other Natural Ingredients https://mjshareholders.com/bloomios-to-develop-and-produce-new-range-of-private-label-products-utilizing-ashwagandha-melatonin-kratom-lions-mane-valerian-root-reishi-mushroom-and-other-natural-ingredients/ Thu, 04 Aug 2022 16:53:14 +0000 https://www.cannabisfn.com/?p=2957708

Ryan Allway

August 4th, 2022

News, Top News


SANTA BARBARA, Calif.Aug. 4, 2022 /PRNewswire/ — Bloomios, Inc. (OTCQB: BLMS), a leading hemp and nutraceutical manufacturer specializing in full service product development, R&D and compliance solutions, has been engaged by several CBD, nootropic and nutraceuticals brands to develop and produce a new range of private-label consumer health and wellness products.

Bloomios’ new private-label products utilize natural ingredients that help promote focus, sleep and relaxation.
Bloomios’ new private-label products utilize natural ingredients that help promote focus, sleep and relaxation.

Bloomios’ new products utilize natural ingredients that help promote focus, sleep and relaxation.

The products will be formulated with natural supplements including ashwagandha, melatonin, kratom, lion’s mane, valerian root, reishi mushroom designed to help promote focus, sleep and relaxation, as well as address pain and inflammation. Several of the products are already in the late stages of development and production testing.

The new offerings represent a significant expansion from the Company’s existing lines of hemp-derived and nutraceutical products which already provide its private- and white-label customers more than 80 customizable solutions across seven format categories, including the increasingly popular gummy format.

As a long-established contract manufacturer for many well-known cannabinoid brands, Bloomios has been actively supporting these brands’ extension into new nutraceutical product lines. This has included the development of proprietary formulations that combine cannabinoids with other compounds or herbal remedies.

“Today’s consumers have become increasingly aware of the health benefits that can be derived from a variety of natural supplements and particularly through the combination of complementary ingredients that can create an enhanced entourage effect,” noted Bloomios CEO, Michael Hill. “To address the growing demand for such products that require specialized knowledge and production capabilities, major brands have come to us as a single source solution for a new range of natural offerings.”

Bloomios’ in-house R&D team closely collaborates with its brand partners to rapidly develop new product formulations that align with current consumer preferences including the most popular delivery formats. Together they recently created several novel gummy formulations, including melatonin, valerian root complex and cannabinoids for sleep; L-theanine and CBD for calm; and ginkgo biloba, caffeine and rhodiola rosea for mental focus.

Other health and wellness supplements Bloomios now offers on a white label or customized-formula basis include ashwagandha and mushroom nootropics utilizing lions mane and reishi varietals.

“One of the hottest trends in the supplement space today is kratom, which is derived from a tree native to Southeast Asia,” said Hill. “It contains several chemicals that interact with opioid receptors and is being used to address pain or moderate opioid withdrawal symptoms.”

Kratom is currently being evaluated by the NIH’s National Institute on Drug Abuse (NIDA), the leading federal agency for scientific research on drug use. NIDA has recognized that people are using kratom to manage drug withdrawal symptoms and cravings related to opioid use, as well as to address pain, fatigue and mental health issues.

Bloomios remains consistent with its commitment to quality, purity and manufacturing best practices, including sourcing only well-established and verified full chain-of-custody kratom extract suppliers and utilizing stringent certificate of analysis protocols.

All of Bloomios’ cannabinoid, nutraceutical and nootropic products are manufactured by its state- and federal-compliant cGMP facilities. Its state-of-the-art research and manufacturing facilities ensure robust chain-of-custody validation and batch record retention, with an in-house lab providing real-time quality assurance for all ingredients and finished products.

About Bloomios
Bloomios, Inc. manufactures, markets and distributes U.S. hemp-derived supplements and nutraceutical products through wholesale distribution channels and its wholly owned subsidiary, Bloomios Private Label. The company provides custom formulation, brand development, manufacturing and order fulfillment to a wide variety of wholesale CBD customers, including small and major brands, chain stores, vape shops and distributors. It offers private- and white-label customers a wide selection of more than 80 customizable hemp products across seven categories. Bloomios is headquartered in Santa Barbara, California, with manufacturing and distribution in Daytona Beach, Florida. To learn more, visit bloomios.com.

Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company’s identity protection software products into various channels and market sectors, the issuance of the Company’s pending patent applications, COVID-19, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the company.

Food and Drug Administration Disclosure
Products and formulations featured in this release are not for use by or sale to persons under the age of 12. This product should be used only as directed on the label. Consult with a physician before use if you have a serious medical condition or use prescription medications. A doctor’s advice should be sought before using these or any supplemental dietary product. These statements have not been evaluated by the FDA. Such products and formulations are not intended to diagnose, treat, cure or prevent any disease.

Investor Relations Contact:
Ronald Both or Justin Lumley
CMA Investor Relations
Tel (949) 432-7566
Email contact

Media Contact:
Tim Randall
CMA Media Relations
Tel (949) 432-7572
Email Contact

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.


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Irwin Naturals Emergence Making Immediate Impact in New England https://mjshareholders.com/irwin-naturals-emergence-making-immediate-impact-in-new-england/ Thu, 28 Jul 2022 15:53:50 +0000 https://www.cannabisfn.com/?p=2956897

Ryan Allway

July 28th, 2022

Psychedelics, Top News


Company’s national rollup accelerating with acquisition of New Hampshire ketamine clinic

LOS ANGELES, July 28, 2022 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) completed the acquisition of the assets of New England Ketamine, which is located in Salem, New Hampshire and serves clients in six different states in the Northeast.

This is the third acquisition that Irwin Naturals Emergence has completed in the past five months as it builds a national chain of mental-health clinics providing psychedelic treatment using ketamine. Additionally, Irwin Naturals Emergence has reached binding agreements to acquire facilities in Georgia and in Vermont.

Klee Irwin, CEO of Irwin Naturals said, “We’re executing the plan we laid out earlier this year, putting the full weight of our brand behind these life-changing treatments that have the capacity to fundamentally change the way we care for mental health in this country. We’re doing more than just exploring the opportunities here. We’re adding to what we hope will become the biggest national chain of psychedelic mental-health clinics in the United States.”

Casey Brachvogel, CRNA & founder of New England Ketamine, added that “Becoming part of Irwin Naturals Emergence gives us a boost that comes from being part of a truly household brand name. The trust and equity that Irwin Naturals has built up over the past 28 years will help us bring these treatments to even more people in need.”

As part of this deal, Irwin Naturals Emergence will donate $50,000 to Operation Airway, a Massachusetts-based global surgery program that helps care for children in developing countries who can not breathe or speak due to airway complications. Operation Airway is a collaborative program between Massachusetts General Hospital for Children and Massachusetts Eye and Ear. A cause near and dear to Brachvogel and the New England Ketamine family.

The goal of expanding access to life-changing care is a central component for Irwin Naturals Emergence. Developing economies of scale and the company’s best practices will drive down operating costs for psychedelic mental health clinics, and those savings can translate into sliding-scale discounts. This will enable the company to eventually serve as a bridge as insurance plans catch up to the importance and power of these treatments.

It’s not just the efficiency that will help, though. Irwin Naturals is a brand name known by more than 100 million people and is recognized in 80 percent of all U.S. households.1 Irwin Naturals products are stocked on the shelves of more than 100,000 storefronts in North America, and now that brand is moving to the forefront of this new frontier of healthcare.

The acquisition was first agreed to in May, and the completion of the deal gives Irwin Naturals Emergence a total of seven ketamine clinics in three different states. Additionally, Irwin Naturals Emergence reached binding agreements to acquire two facilities in Georgia and one in Vermont. The Company is pleased to announce that it will issue an aggregate of 24,000 subordinate voting shares to a provider of capital markets advisory services of the Company, as partial payment of fees owed to such service provider. The aggregate deemed value of the common shares to be issued is CAD$68,400.00, and the shares will be subject to a hold period of four months. The shares are being issued in lieu of cash in order to conserve the cash resources of the Company.

Transaction terms

As consideration for the acquisition, the Company has issued 2,692 Proportionate Voting Shares (“PVS”) and 31 Subordinate Voting Shares (“SVS”). Furthermore, the transaction includes an additional contingent consideration based on future milestones related to operational and profitability targets, to be satisfied in shares.

_______________
1 Based on a formal Company survey with a sample size of 500 randomly selected adults

About Irwin Naturals

Irwin Naturals has been a household name and best-in-class herbal supplement formulator since 1994. It is now leveraging its brand to enter into both the cannabis and psychedelic industries. On a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years2. Irwin’s growing portfolio of products is available in more than 100,000 retail doors across North America, where nearly 100 million people know the Irwin Naturals brand.3 In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust with an objective to become one of the first household name brands to offer THC-based products and psychedelic mental health treatment. Irwin Naturals became a publicly traded company on the Canadian Securities Exchange (CSE) in August 2021. The Company’s shares began to be traded on the OTCQB Venture Market in November 2021. More information on the Company’s stock can be found via Bloomberg as well as the Wall Street Journal.

Klee Irwin
Chief Executive Officer
T: 310-306-3636
[email protected]

IR Information

For investor-related information, please visit ir.irwinnaturals.com/, call (800) 883-4851or email [email protected].

Press Contact

Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
[email protected]

_______________
2 Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
3 Consumer brand recognition information is based on a formal Company survey with a sample size of 500 randomly selected adults.

Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, “objective,” or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements in this news release include statements related to information concerning the ability of the Company to perform the terms of the transaction referenced herein; the receipt of all necessary approvals, including regulatory approvals; expectations for other economic, market, business, and competitive factors; and the Company actually entering into and doing business in the U.S. cannabis and psychedelics markets. The potential entrance by the Company into these new business segments are in their preliminary stages and may be subject to approval from the board of directors of the Company as well as any regulatory approval, including that of the Canadian Securities Exchange. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: board and regulatory approval, including the approval of the Canadian Securities Exchange; Irwin being able to acquire and/or enter into business relationships to enter into these new markets; the Company obtaining the required licenses; and changes to regulations and laws regarding cannabis or psychedelics. Further information on the regulatory environment and risks will be contained in future disclosures. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from that which are expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Irwin Naturals Inc.

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.


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Jupiter Wellness Announces the Retirement of Approximately 10% of its Outstanding Shares https://mjshareholders.com/jupiter-wellness-announces-the-retirement-of-approximately-10-of-its-outstanding-shares/ Fri, 17 Jun 2022 16:15:27 +0000 https://www.cannabisfn.com/?p=2951424

Ryan Allway

June 17th, 2022

News, Top News


JUPITER, FL / ACCESSWIRE / June 17, 2022 / Jupiter Wellness, Inc. (NASDAQ:JUPW) today announced the purchase and retirement of 2,433,894 common shares, which reduces the Company’s outstanding common shares to 22,151,528, an approximate 10% reduction in shares outstanding.

The Company previously announced a $5.0 million share buyback program. Under the program, shares of the Company’s stock may be repurchased periodically in the open market or privately negotiated transactions. To date, the Company has purchased 2,433,894 under the program.

“We continue to believe our stock is undervalued and today’s announcement shows continued commitment to our shareholders and the desire to retire shares at current market prices. Given our current cash position, I strongly feel this program is an attractive use of capital as we continue to reposition ourselves for the growth ahead,” said Brian John CEO.

About Jupiter Wellness

Jupiter Wellness translates innovative health science into revolutionary products aimed at skin, hair, sexual wellness, and general health. Our approach is defined by proven mechanisms of action, validated manufacturing processes, and controlled clinical trials. Our development pipeline includes products to address psoriasis, eczema, burns, herpes, cold sores, and skin cancer. Jupiter Wellness generates revenue from a growing line of over-the-counter skin care products, wellness brands sold through retail channels, and the licensing of our intellectual property and proprietary formulations. For more information, please visit www.JupiterWellness.com.

Media Contact

Phone: 561-244-7100
Email: [email protected]

Investor Contact

Phone: 561-244-7100
Email: [email protected]

Forward-Looking Statements

This communication contains forward-looking statements regarding Jupiter Wellness, including, the anticipated timing of studies and the results and benefits thereof. You can generally identify forward-looking statements by the use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are based on each of the Company’s current plans, objectives, estimates, expectations, and intentions and inherently involve significant risks and uncertainties, many of which are beyond Jupiter Wellness’ control. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties and other risks and uncertainties affecting Jupiter Wellness and, including those described from time to time under the caption “Risk Factors” and elsewhere in Jupiter Wellness’ Securities and Exchange Commission (SEC) filings and reports, including Jupiter Wellness’ Annual Report on Form 10-K for the year ended December 31, 2021 and future filings and reports by Jupiter Wellness. Moreover, other risks and uncertainties of which the combined company is not currently aware may also affect each of the companies’ forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. Investors are cautioned that forward-looking statements are not guarantees of future performance. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and reflect the views stated therein with respect to future events at such dates, even if they are subsequently made available by Jupiter Wellness on its website or otherwise. Jupiter Wellness undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.

SOURCE: Jupiter Wellness Acquisition Corp

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.


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Silo Wellness Issues Shareholder Letter and Announces New Chief Executive Officer https://mjshareholders.com/silo-wellness-issues-shareholder-letter-and-announces-new-chief-executive-officer/ Thu, 09 Jun 2022 15:39:45 +0000 https://www.cannabisfn.com/?p=2950334

Ryan Allway

June 9th, 2022

Psychedelics, Top News


Toronto, Ontario–(Newsfile Corp. – June 9, 2022) – Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) (“Silo Wellness” or the “Company“), a leading global psychedelics company, announced today that Silo Wellness founder and chairman of the board of directors Mike Arnold is assuming the role of the Company’s interim chief executive officer to continue to lead the Company through its planned acquisition of Dyscovry Science Ltd. and in its planned Oregon psilocybin business objectives. The Company and former CEO Douglas K. Gordon have agreed to Mr. Gordon stepping down as CEO, but he will remain involved in the business, including pursuit of global distribution opportunities for sales of Marley One. During his tenure at Silo Wellness, Mr. Gordon was responsible for the creation of the Marley One global mushroom brand in collaboration with the family of legendary musician Bob Marley and for launching psychedelic retreats in Oregon and Jamaica, a first for a publicly traded company. He also led the Company through its public listing in March of 2021 and two major financings. The Board would like to thank him for his leadership over the past two years.

CEO Mike Arnold founded Silo Wellness in 2018 and was CEO from inception until August 2020. He is an experienced Oregon trial attorney (complex criminal defense and commercial litigation). As the Company’s president and chairman of the board of directors, he has been responsible for the Company’s Ontario Securities Commission and Canadian Securities Exchange compliance, investor relations, financing, and corporate development. In the last five years he has successfully raised over $12M for his startups.

He was actively involved in the cannabis sector in Oregon, having defended cannabis farmers in both federal and state courts. Additionally, Mike was involved in cannabis regulatory work in Oregon and Missouri, drafting cannabis license applications and securing land use approval for cannabis facilities as state regulations permitted. He is also an experienced farmer, having raised honeybees, livestock and poultry and operated a commercial cannabis outdoor farming operation.

Mike developed the concept for the world’s first metered-dosing psilocybin nasal spray in 2018 together with his co-inventor. In Jamaica, he has extracted psychedelic compounds from raw biomass and developed and quality tested products there.

Mike received his Bachelor of Arts from Truman State University (Kirksville, Missouri) and Juris Doctor from the University of Oregon School of Law. He is an avid outdoorsman and rafting guide.

Additionally, today the Company issued a letter to shareholders from its founder and Chief Executive Officer Mike Arnold.

Dear Fellow Shareholders:

With our recent announcement of our pending transaction to acquire Toronto-based psychedelic biotechnology company Dyscovry Science, Ltd., we embark on our long-envisioned direction for Silo Wellness in the midst of potential market consolidation. I founded this company in 2018 with a firm vision for psychedelic wellness. We have scrapped along our way from picking feral psilocybin mushrooms out of cow dung in Jamaica to developing the world’s first psilocybin nasal spray to a public listing to this: being poised to be the only publicly traded psychedelics company providing psychedelic healing right now through Jamaican psychedelic wellness retreats while at the same time innovating the ‘what’s next’ for psychedelic pharmaceutical healing.

Oregon: The Last Chance to Be First

Since inception, we intended to unlock the opportunity that I foresaw for Oregon, where I have lived since 1998 and have practiced law for the last 20 years. There is so much we can do here in Oregon to introduce psychedelic healing to the masses.

With the intent to maximize shareholder value, we look to Oregon as the last chance to be first to market in the plant medicine space. Oregonians have the opportunity to usher in potentially hundreds of thousands of people for their first psychedelic experiences. This is an unprecedented branding opportunity: to forever be imprinted on something that so many first-time users rate as one of their greatest lifetime experiences right up there with the birth of their first child. Drinking a pop or buying a car doesn’t do that, and I challenge any industry to give me an example comparable to a psychedelic experience.

This is an opportunity and great responsibility, and we believe that as the only Oregon-based publicly traded psychedelic company with psychedelic experience in a legal market (Jamaica), we are well positioned to move into the first U.S. state turnkey ready. We knew that we couldn’t export mushrooms or truffles to Oregon from Jamaica, but we could export our psychedelic retreat intellectual property. That coupled with boots on the ground in Oregon, with the only Oregonian with psychedelic capital markets experience, we believe our team is well positioned to emerge as a global leader in the space through our “Oregon First” strategy.

Jamaica Retreats: Providing psilocybin to guests right now

Going forward we will focus on what we have that is unique. First, we are a psychedelics company that is actually offering psychedelics to clients right now. That is unique. Also, we have psychedelic retreat logistics in Jamaica firmly in hand and access to the Western Hemisphere’s only legal English-speaking psilocybin jurisdiction prior to Oregon coming online next year. That’s another valuable differentiator.

With our operational experience, we may also have a B2B opportunity to essentially white label retreats to those who have been in the underground for so long or to those that have a relevant marketing platform and social media that screams out “just add psilocybin.” We intend to explore those opportunities more diligently.

Marketing. Operationally, I have plans to better exploit our marketing opportunities in a very uncrowded retreat space. First, we plan to scale the Jamaican retreats by offering them more frequently, backed by a more robust marketing plan focusing initially on the basics: SEO, influencer partners, etc. While our inquiries that have originated from earned media (Bloomberg, Washington Post, Buzzfeed, Outside Magazine, etc.) and Google searches have been overwhelming at times, we still have a lot of opportunity to grow here.

Healing combat veteransAdditionally, there are so many experienced potential collaborators looking for a way to bring their expertise and marketing powers to the Jamaican and Oregon psychedelic retreat markets. We are currently negotiating with parties with experience in veterans retreats and veteran mental illness and hope to expand the scope of our Jamaican offerings accordingly, in addition to establishing a path forward for veterans’ access in Oregon.

On average a veteran takes his own life almost every hour of every day. These tragedies have continued every day while the psychedelic industry has been promising to provide access to this medicine sometime in the unknown future. Enough is enough. I founded a psychedelic retreat in Jamaica and that platform needs to be available to those who need it most. With the right partners, we can safely get that done. I expect to announce something in greater detail regarding our intentions there in the near future.

Bob Marley-branded functional and psychedelic mushroom products

Finally, I believe that in addition to unlocking the potential of our nature-based psychedelic retreats, we have opportunities to increase the reach and relevance of the Bob Marley brand of functional mushroom and psychedelic products. When I first began speaking with the Marley family in late 2019/early 2020, I was envisioning a global brand that epitomized the best of the human condition. I wanted to focus on the best that psychedelic mushrooms have to offer: the ability of a person to find a renewed sense of purpose in helping and loving others as they would wish for themselves. Bob Marley’s One Love philosophy represents this. And on the business side of things, it allows us to leverage a brand known around the world and connected to Jamaica.

Pharmaceutical Opportunities and De-Risking the Psychedelic Space

As was discussed in our last press release and featured in Forbes, we believe Dyscovry has the potential to really set us apart. With our expanded plans to emphasize these different but complementary business “silos,” I have agreed to step in as interim CEO to give a chance to the eventual newly constituted board (assuming we close on Dyscovry as anticipated) to institute a more formal CEO search. I would be happy to tender my name for consideration by the board as a candidate if so requested. A CEO transition was inevitable considering all of the changes in the psychedelic market since listing and our evolving market strategy.

With our plans to be a comprehensive psychedelic company, we hope to de-risk the space by presenting assets that account for a future in psychedelic pharma and the potential future in the United States adult-use market as signaled by Oregon voters in November 2020 and anticipated to open up in 2023. We plan to present ourselves as an incubator holding company targeting nascent market opportunities and readying them for potential spinout.

NASDAQ? If the Dyscovry opportunity is successful, I envision a potential Nasdaq up-listing of that asset or Silo as a whole (after spinning out any touching-the-fungus assets that may be unappealing to those regulators). We have begun discussions with a Nasdaq listing consultant who has experience with the psychedelic market. This would require significant gains in our share price which we hope can occur with the new vision. However, to accelerate that opportunity, as well as a condition precedent to receiving the remaining funding tranches from our previously-announced financing with Alpha Blue Ocean, we have embarked on a 20-1 share consolidation. Thank you to all of you who have contacted me with your overwhelming support for this plan. More information about that can be found in our annual circular filed on SEDAR.

Additional Financing PlansFurthermore, we are in negotiations regarding further financing potentially on the back of the Dyscovry opportunity. Ostensibly it would be available to draw down to fund any additional growth plans in Dyscovry and the related M&A opportunities that come to light through that enterprise. However, it will also be available to quickly capitalize on Oregon opportunities as they become apparent. With a market that will go quickly from final rules to accepting licensing applications in short order, there will be a need for operators to move quickly on appropriate real estate. We may also be able to leverage our presence in Oregon and experience in the psilocybin retreat space to evaluate the teams and could be a valuable partner in that regard.

Conclusion

This past year we have hung on as the psychedelic market has been pummeled all while seeing the beginning hints to the inevitability of the upcoming consolidations in the sector. However, we have weathered the storm and are now recapitalized as of April.

Thank you to all the original Kansas City shareholders who have hung in there and to all the go-public shareholders that have held. Your feedback and encouragement has been humbling and very welcome. And to all the new shareholders that have come on board recently during the share price dips: welcome aboard. This psychedelic rocket ship is fueled, and the launch pad built with the mission firmly in hand. Let’s go explore this sector together.

Sincerely,

Mike Arnold,
Attorney at Law
CEO/Chairman | Silo Wellness, Inc. | (CSE: SILO) (OTCQB: SILFF)
LinkedIn

ABOUT SILO WELLNESS

Silo Wellness is a growth-oriented holding company focused on functional mushroom and psychedelic opportunities that benefit from a unified ecosystem and exceptional leadership. Founded in 2018 and headquartered in Toronto, Silo Wellness has a presence in both Jamaica and Oregon. Silo Wellness is a publicly traded company on the Canadian (CSE: SILO) and Frankfurt (FSE: CK70) exchanges and trading on the OTCQB Venture Market (OTCQB: SILFF).

For more information about Silo Wellness, please visit www.silowellness.com.

Silo Wellness Company Contact:
Mike Arnold, CEO
541-900-5871
[email protected]

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking information may relate to anticipated events or results including, but not limited to the closing of the acquisition with Dyscovry Science Ltd., and the Company’s future business plans. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, regulatory, political and social uncertainties and the potential impact of COVID-19. Such risks and uncertainties include, among others, the risk factors included in Silo Wellness’s continuous disclosure documents available on www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Silo Wellness assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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.


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Neptune Wellness Solutions Inc. Closes US$8,000,000 Registered Direct Offering https://mjshareholders.com/neptune-wellness-solutions-inc-closes-us8000000-registered-direct-offering/ Mon, 14 Mar 2022 15:29:12 +0000 https://www.cannabisfn.com/?p=2940726

Ryan Allway

March 14th, 2022

News, Top News


LAVAL, QCMarch 14, 2022 /PRNewswire/ – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that it has closed on the previously announced registered direct offering with a single strategic consumer-focused institutional investor for the purchase and sale of (i) 18,500,000 common shares of the Company (“Common Shares”) and (ii) 6,500,000 pre-funded warrants (the “Pre-Funded Warrants”), with each Pre-Funded Warrant exercisable for one Common Share. The Common Shares and the Pre-Funded Warrants were sold together with Series A Warrants (the “Series A Warrants”) to purchase up to an aggregate of 25,000,000 Common Shares and Series B Warrants (the “Series B Warrants” and collectively with the Series A Warrants, the “Common Warrants”) to purchase up to an aggregate of 25,000,000 Common Shares. Each Common Share and the accompanying Common Warrants were sold together at a combined offering price of US$0.32, and each Pre-funded Warrant and accompanying Common Warrants were sold together at a combined offering price of US$0.32, for aggregate gross proceeds of US$8.0 million before deducting fees and other estimated offering expenses. The Pre-Funded Warrants are funded in full at closing except for a nominal exercise price of US$0.0001 and are exercisable commencing on the Closing Date, and will terminate when such Pre-Funded Warrant is exercised in full. The Series A Warrants have an exercise price of US$0.32 per share and are exercisable six months after the closing date, and will expire five and one half years from the date of issuance. The Series B Warrants have an exercise price of US$0.32 per share and are exercisable six months after the closing date, and expire 18 months from the date of issuance (collectively the “Offering”).

The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes.

A.G.P./Alliance Global Partners acted as sole placement agent for the Offering.

The Offering of the Common Shares, Pre-Funded Warrants and the Common Warrants, and shares underlying such Pre-Funded Warrants and Common Warrants (collectively, the “Securities”) were offered pursuant to Neptune’s shelf registration statement on Form F-3 (File No. 333-262411), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 9, 2022. The Offering of the Securities was made only by means of a prospectus supplement filed with the SEC that forms a part of the registration statement. The Offering was made in the United States only and no Securities were offered in any jurisdiction of Canada or to, or for the benefit of, residents in any jurisdiction of Canada.

Copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone at 212-624-2060 or email: [email protected] and will be available under the Company’s profile on EDGAR at www.sec.gov.

This communication 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

For the purposes of TSX approval, the Company relied on the exemption set forth in Section 602.1 of the TSX Company Manual available to “Eligible Interlisted Issuers”, since the Common Shares are also listed on the Nasdaq and had less than 25% of the overall trading volume of its listed securities occurring on all Canadian marketplaces in the twelve months immediately preceding the date of the application the Company made to the TSX to approve the Offering.

About Neptune Wellness Solutions Inc.

Headquartered in Laval, Quebec, Neptune is a diversified health and wellness company with a mission to redefine health and wellness.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes”, “belief”, “expects”, “intends”, “projects”, “anticipates”, “will”, “should” or “plans” to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the “Cautionary Note Regarding Forward-Looking Information” section contained in Neptune’s latest Annual Information Form (the “AIF”), which also forms part of Neptune’s latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein include, without limitation, statements about the anticipated use of proceeds of the Offering; and other risks and uncertainties that are described from time to time in Neptune’s public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under “Risk Factors”.

Neither Nasdaq nor the TSX accepts responsibility for the adequacy or accuracy of this release.

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.


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