“Authority allows two roles: the torturer and the tortured. Twists people into joyless mannequins that fear and hate, while culture plunges into the abyss.”
Every aspect of government, every moronic vote for any master, every atrocity, every war, every form of censorship, every genocide, every economic disaster, and every form of totalitarianism, is fully dependent on the lack of self-ownership by any and all in the collective herd of those who voluntarily allow themselves to be enslaved by any ruling State. Any acceptance of rule, any rule, is the antithesis of freedom. The very idea of rule runs counter to any sanity, and no one who accepts rule without active and forceful dissent, deserves his lot in life as a slave.
This is the actual problem, this is the bottom line, this is the big picture. All else is but a consequence of the allowance of rule. Concentrating on hate, every singular event, every form of tyranny, every isolated evil perpetrated or allowed by the State, every psychotic ‘election,’ and every pitiful falsely-claimed victim; all while ignoring, chastising, negating, and abandoning the individual and independent self-rule, is cause for great alarm. When this attitude is broad-based and taken up by the masses, which happened a long time ago, collective ignorance and universal stupidity becomes the norm. This causes division and constant blame where it should not exist, for the real problem lies with the fact that the people individually and collectively have accepted authoritative governance as their god.
This of course seems to this doltish society of fools, as the easy way out; so as not to have to be responsible for themselves or their own subsistence. What a society like this breeds is exactly what we have today in this country, and most of the rest of the world, especially in the West; a pathetic, weak, and controlled proletariat class, dependent on their chosen master’s whims, restrictions, and regulations. They wallow in complacency, while choosing to exist as submissive addicts of rule. The incessant nature of this total societal laziness, irresponsibility, and cowardice, is cloaked in ignorance, fear, and hate for one another; all solicited by the governing slime, and all unwarranted.
The end product that arises from this societal mindset, especially in the U.S., is eye-opening to say the least. Most of the people here actually believe they are free and live in a free country. They are fat and happy, regardless of the tyranny they face, and able to eat all the poison that fast food chains and processed manufacturing can dish out; soon (already are) to be in the form of genetically-modified organisms, fake meat, worms and bugs, chemicals, metals, and unknown biological and technological nano-particulate matter. This is happening while the vast majority have no concept of their fate due to their blind obedience to the State, and its agendas.
Hypocrisy and contradiction are rampant among this complicit population, and it is seemingly never-ending. Much of this behavior is based on the concept of duality of standards, this a common theme, especially concerning Americans. They tend to take on an air of sympathy, mostly false I might add, for the plight of others around them, whether locally, nationally, or internationally; not because it is legitimate, but because of arrogance, superiority complex, or the need to pretend to care so as to please their particular group-think role. This conjures up images of race-baiting, red against blue, right against left, forced inclusion, diversity nonsense, the idiocy of transgender policies, so-called anti-war attitudes, which rarely actually exist from either ‘side,’ and the incredibly ludicrous notion of “spreading democracy,” as if that is not pure aggression in any form.
Most Americans support war, regardless of the level of slaughter and death, so long as it is pretended to be for the ‘right reasons,’ and is being waged to suit deceitful manufactured State narratives, usually based on illegitimate fear, and promoted by the scum in government, military, and media. Since spoiled Americans do not have brutal war in country, it is easy to feign false empathy and fake concern for others, while getting fat watching fake television news, and supporting this country’s foreign policies, which are the most brutal in the history of man. Currently, approximately half the country are pretending to support the evil Zionists in Israel, and about half are pretending to support Palestine. The U.S. government is claiming both sides at once, and the lowly masses are falling right in line. The U.S. is up to its neck using the tax revenue and all the fake money it can create to fund every war, whether in Israel, Syria, Yemen, Ukraine, or elsewhere, and the population here has only to decide which party ‘supports’ which side in order to choose their team. It is not war they are upset with, but which party benefits from which particular war.
If they actually wanted to stop war, they would eliminate the single cause of war, which is the State and its governing monsters, instead of taking sides akin to a sporting event. When the U.S. attacked Vietnam, killing millions of innocent civilians, there were again two sides of the same coin, and both at the time also supported the government who aggressively prosecuted that heinous war. When the U.S. aggressively attacked Afghanistan and Iraq, again killing millions, including 500,000 children under the age of 5, most in this country were watching this evil on television, and applauding the bombings, sanctions, and total destruction of countries and people. It has been the same from both sides for every conflict, every war of aggression; for the entirety of history. This is hypocrisy at its highest level, but then, contradiction lives and breathes in the ‘good ole USSA.’
The actual murderers who are the assassins for the State are the military, but most all in this country still cheer them on in their slaughter of innocents. They act on orders alone, and not moral behavior, killing without conscience. The military industrial complex is the fascist partner of government, and only acts in the interest of the State, never the people. Throw away the flag of death, refuse to utter any allegiance to the bloodied flag, and withhold any support for the anthem of war.
It seems, no, it is almost certain, that people everywhere support the very evil they claim to abhor. Every country on earth has a government, and every government is pure evil; only seeking money, power, and control over their subjects. In WWII, the German people supported German government, the Americans supported the U.S. government, the British supported the government in England, and on and on, and all supported war. Any who shun rule, any who loathe war, any who want to be free, have to stop all State authority; they have to abolish the perpetrator of war, which is the State. This has never happened, so why do so many think things will improve by their continued support for any State or Nation? Why do any believe that authority of any kind is the answer, when in fact. that authority is the entire problem?
In order to be truly free, all rule must be abandoned in favor of natural law and self-rule. So long as government and authority are present, slavery will remain universal, and mass obedience to that authority will be the way of life. Instead of concentrating on each and every incident of economic destruction, carnage, rape, theft, torture, murder, killing and perversion of children, and war, forcefully challenge the cause of all this horror, which is the government you alone allow to exist. The big picture will not ever change so long as the masses concentrate on the results of rule, as opposed to the fact that rule itself is the problem, and cause of all the terror inflicted on the bulk of humanity.
You are a huge part of the problem. All those who seek or allow rule, allow government, and willingly obey a master are the problem. All those who voluntarily choose (vote) to select a new master with expectations of ending tyranny, are the problem. All those who cower and hide from responsibility in the face of totalitarian rule, are the problem. All those who ‘respect’ authority are the problem.
The only way any government or State can rule, the only way it can demand compliance of its criminal arbitrary ‘laws,’ the only way it can advance any war, is with the voluntary consent of the people. Withhold that consent, negate all authority, and defend at all costs your own liberty. It is time to eliminate the State, once and forever, and sent it to the depths of hell where it belongs.
“You might think that there’s some authority you could look to for answers, but all of the authorities you can think of are fake.”
The Biden administration’s move to reclassify cannabis as a less hazardous substance is anticipated to ease some of the limitations on research. However, experts caution that while the change will alleviate certain restrictions, it won’t eliminate all of them. Additionally, it may not necessarily reduce the potential risks associated with cannabis or enhance users’ understanding of those risks.
Currently, cannabis is categorized as a Schedule I substance, indicating it is deemed to have a high abuse potential and no recognized medical value. The proposed shift by the Biden administration aims to move cannabis to Schedule III, acknowledging its medical benefits to some extent.
This adjustment is significant as the Schedule I classification imposes stringent regulations that hinder scientific research on cannabis, despite its increasing availability due to changes in state laws. These regulations encompass various aspects such as reporting, storage and security requirements, governed by entities such as the Food and Drug Administration (FDA), the U.S. Drug Enforcement Administration (DEA), local authorities and the Institutional Review Board.
Neuroscientist Staci Gruber of Harvard Medical School and McLean Hospital draws attention to the onerous procedures that researchers must go through, including registering with the DEA and obtaining federal and state permits to perform studies on cannabis.
According to advocates, reclassifying the drug to Schedule III, alongside drugs such as Tylenol and ketamine, will be a significant change that could affect attitudes and viewpoints on the study of drugs in different categories. Gruber sees this change as particularly beneficial for aspiring researchers who will no longer require a Schedule I license, thus facilitating their entry into the field.
Similarly, Dr. Andrew Monte, associate director of Rocky Mountain Poison and Drug Safety, believes that the reclassification will foster more research on the therapeutic benefits and potential risks of marijuana, thereby enhancing the quality of research outcomes.
However, despite the reclassification, Gruber notes that the availability of marijuana for research purposes may not significantly increase. Historically, researchers were limited to obtaining cannabis from a single source: the University of Mississippi. Although the DEA has started approving additional sources since 2021, the accessibility of these sources remains limited, hindering researchers’ ability to study the products commonly used by patients and consumers.
Moreover, there is a lack of comprehensive information regarding the composition of marijuana products available on the market today. Studies suggest that the current THC levels, the primary psychoactive component in cannabis, are substantially higher than in previous decades, posing greater health risks.
Monte warns against overlooking the health risks associated with cannabis, despite its reclassification. He and his colleagues have observed various adverse effects in individuals, such as intoxication and cyclic vomiting syndrome, as well as psychiatric symptoms, including psychosis, leading to hospital visits. Despite the reclassification, addressing these risks requires ongoing surveillance and research efforts, which the reclassification alone may not fulfill.
When the DEA finally announces its cannabis rescheduling decision, entities such as Astrotech Corp. (NASDAQ: ASTC) could see new opportunities for business as their testing equipment starts attracting more interest from the marijuana research community.
NOTE TO INVESTORS: The latest news and updates relating to Astrotech Corp. (NASDAQ: ASTC) are available in the company’s newsroom at https://cnw.fm/ASTC
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We celebrate National Gardening Day (April 14th) to encourage people everywhere to start a garden, regardless of size or whether they want to grow veggies, flowers, or both! It’s important to stress that gardening doesn’t have to be a ton of work. Regenerative gardening is about working with nature to grow plants that feed your family or beautify your home. Lasagna gardens are a big part of the regenerative way and are easy to build, so why not add this idea to your vision board for the growing season ahead?
What’s a Lasagna Garden?
A lasagna garden is the idea of composting in place and growing plants simultaneously. Like making a lasagna, you create a garden bed by layering organic materials to build soil.
To make a lasagna garden bed, you’ll need a nitrogen source like grass, garden clippings, or kitchen scraps. Nitrogen makes up one-third of the bed. For the other two-thirds, you’ll need carbon sources like cardboard, newspaper, fallen leaves, or woody material. With some air and water, you’ll be on your way to building soil full of organic matter, nutrients, and microorganisms that feed plants.
I recently had the opportunity to chat with Stephanie Rose, author of two of my favorite books, Garden Alchemy and The Regenerative Garden. Rose says lasagna gardening, also known as sheet mulching, is a great way to build a bed quickly. Just pick a spot on the lawn and get layering!
“If you’re not going to make it very deep, you can turn all of the turf upside down to prevent some of the grass from coming through,” she says. “Or, you can leave it as is and put a thicker layer of paper or cardboard over top of the space that you’re going to [turn into] a garden. And then, layer carbon and green materials, put compost on top of that, and plant right into it.”
Rose says the top layer of compost must be aged or finished for planting directly into the bed. As the material underneath decomposes, the plants take up nutrients through their roots, eliminating the need for supplemental fertilizers and turning the soil.
“Who hasn’t grown some vegetable in the compost pile and then went and told everybody and their dog how they had the most delicious tomatoes?,” she asks. “They had hundreds of tomatoes; they had so many squash; they had so many zucchini because it was growing out of a compost pile!”
A lot like Hugelkultur
Lasagna gardens are the same idea as hugelkultur, where you build a mound with organic materials and plant right into it.
In a hugelkultur bed, you layer woody materials that are slow to decompose, such as logs, sticks, fruit pits, nut and egg shells, on the bottom of the bed. Then, you begin sheet mulching.
“The one thing about a hugelkultur that I love is that you can build this in your plant pots, too. Put big pieces of rotting wood in there,” Rose says. “If you’ve ever been into the forest and seen those big pieces of rotting wood, they’re like sponges. They just hold on to the water, so it reduces the supplemental water that you need.”
Creating a hugelkultur container garden is like building a mini eco-system and means filling the pot with less soil. Rose suggests finding a rotting piece of untreated hardwood and spot composting. You can make a worm tower by inserting a small tube into the soil and feeding worms with kitchen scraps and leaves. Or, you can dig a hole, hide some kitchen waste, and cover it with leaves and shredded paper. Creating organic matter in a container garden that doesn’t need much water has never been so easy!
“I see people do these things like putting diapers into their hanging baskets because it holds onto water or sponges into hanging baskets,” laughs Rose. “It just takes some big chunks of wood to do the same thing, and it has all this beneficial fungal matter. It’s got that lovely bacteria in it, but it also holds onto water like a sponge so that plants can access it in times of drought as it decomposes and builds the soil.”
Lasagna and hugelkultur gardens are easier than the alternative! Who needs to order truckloads of garden soil and dig for hours when they can sheet mulch with a few easy-to-find organic materials?
Delta 9 Cannabis Inc. brought in $16.5 million in net revenue in the three months ending March 31, 2024, from its retail and wholesale cannabis businesses but reported a net income loss of nearly $5 million.
The Manitoba-based cannabis company reported $2.4 million in revenue from wholesale cannabis sales into provincial markets, and $14 million from its retail cannabis operations. Delta 9 operates 41 retail locations, 21 under the Delta 9 brand and another 20 retail cannabis stores under the Discounted Cannabis, Uncle Sam’s Cannabis, and Garden Variety brands.
Delta 9’s sales of merchandise and cannabis devices accounted for another $345,955 in revenue, along with $83,392 from B2B sales. It paid $583,235 in excise, up from $454,339 in the previous quarter and $589,267 in the same quarter in 2023.
The company reported no income from medical cannabis sales in the most recent quarter, up from a $266,000 loss in the previous quarter.
The cost of sales during the first three months of 2024 was $11.8 million, or 72% of net revenue, down from $12.7 million in the first three months of 2023.
Gross profit, before accounting for changes in the fair value of biological assets, for the three months ending March 31, 2024, was $4.7 million (28% of net revenue) compared to $4.2 (25% of net revenue) for the three months ending March 31, 2023.
Delta 9’s loss from operations for the first three months of 2024 was $3 million, up from $1.2 million for the first three months of 2023 but down from the $4.3 million loss in the last three months of 2023. Its net income loss was $4.9 million.
Adjusted EBITDA for the three-month period ending March 31, 2024, was $1,577 an improvement from the $475,595 loss for the three months ending March 31, 2023, but down from $1.5 million for the three months ending December 31, 2023.
The cost of sales on Delta 9’s $16.5 million in revenue in the first three months of 2024 was $11.8 million. Gross profit was $4.5 million, while total operating expenses were $7.4 million.
As of March 31, 2024, the company had negative working capital of nearly $38.7 million, compared to $27.8 million on December 31, 2023. Although Delta 9 expects to have enough cash to service its liabilities and fund its continued operating costs, if it cannot raise additional debt financing or equity in the current fiscal year, it reports “material uncertainty” over its ability to continue as a going concern.
As of March 31, 2024, Delta 9 was not compliant with its debt service coverage ratio covenant and working capital covenant. Continued non-compliance with these financial covenants in the credit facility could result in its debt becoming due and payable on demand.
Delta 9 is authorized for sale in Manitoba, BC, Saskatchewan, Alberta, Newfoundland and Labrador, Ontario, Yukon, NWT, New Brunswick, and Australia. The company says it completed several shipments to Australia during the period ending March 31, 2023.
Delta 9 also operates distribution and cross-docking services for cannabis producers in Manitoba and operates a mobile cannabis store authorized by the province.
The company produced 1,129,626 grams of cannabis in the first three months of 2024, with a total cost per gram sold of $0.85 and an average selling price of $1.94. The total cost per gram includes Delta 9’s direct production cost per gram as well as its processing labour, packaging, bottling, and labelling costs.
“During the first quarter, we continued to focus on sustaining revenues across our core business units while optimizing our margins,” said John Arbuthnot, CEO of Delta 9. “We will continue our relentless focus on cost and operational efficiencies and strengthening our balance sheet to deliver sustained, profitable growth for our shareholders. We believe that we now have the necessary scale and platform to create sustainable shareholder value. We expect our Canadian retail network to continue to grow at a normalized pace while our internal focus on cost savings continues to produce tangible results. We look forward to updating investors on our improved performance throughout the rest of 2024.”
(Globe Newswire) Vancouver — Rubicon Organics Inc., a licensed producer focused on cultivating and selling organic certified, premium cannabis, today reported its financial results for the three months ended March 31, 2024. All amounts are expressed in Canadian dollars.
“Rubicon Organics holds the #1 premium position in Canada and is poised for growth with the launch of our full spectrum extract vapes line tapping into the highest growth segment in Canada. With a focus on quality, we are confident that our vape launch will not only drive revenue growth but also solidify our position as a leader in the Canadian cannabis market.
“We anticipated a challenging Q1 due to typical seasonality and the overhang of weak consumer sentiment from 2023. I expect to recover from this temporary dip from our streak of positive Adjusted EBITDA in Q2. In Q1, a changing product mix reduced our gross margin, but this spring we’ve shifted focus to higher-margin products, expecting improved results in Q2 and beyond. Our Q1 working capital investment for product launches is expected to come to fruition delivering further net revenue growth starting in Q2. Additionally, our first-half results are influenced by the ongoing one-time ERP implementation”, said Margaret Brodie, CEO.
Janis Risbin, CFO, said “Despite the market challenges, we’ve managed to maintain revenue levels in line with Q1 2023, a testament to our resilience and adaptability. With the expected re-financing of our debt later this year, we remain focused on strengthening our already solid foundation and continuing to invest opportunistically for growth in 2024 and beyond.”
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Q1 2024 and Subsequent Highlights: For the three months ended March 31, 2024
Net revenue of $8.9 million (1% increase from Q1 2023)
Gross profit before fair value adjustments of $2.2 million (28% decrease from Q1 2023)
Adjusted EBITDA1 loss of $0.4 million compared to profit of $1.7 million in Q1 2023
Cash used by operating activities was $0.9 million compared to cash provided by operating activities of $0.2 million in Q1 2023
Number one premium licenced producer across all categories7
2.0%8 national market share of flower and pre-rolls
7.1%3 national market share of premium flower and pre-rolls
30.6%4 national market share of topical products
6.7%9 national market share of premium concentrates
22.8%10 national market share of premium edibles
Launch of 1964 Supply Co.TM full spectrum extract (“FSE”) vapes, initially available for Blue Dream and Comatose, with purchase orders received from Alberta, BC and Ontario.
2024 Outlook
Brand and product development
Our strategy is founded on a strong premium branded portfolio, highly regarded by both budtenders and consumers alike. Guided by consumer research, we continually innovate our products to anticipate market trends. Our commitment to quality and excellence is evident throughout all areas of our business, seeking to deliver products and services that consistently meet the highest quality standards.
Launch into vape category
Rubicon is launching into the vape category with our 1964 Supply CoTM brand. The introduction of vapes strategically aligns with our market expansion strategy and offers substantial growth prospects. The vape market has demonstrated robust growth over recent years and trends in Canada and the US demonstrate indicating the vape category’s increasing prominence, rivaling or surpassing traditional flower products.
Our launch into the vape category takes advantage of additional biomass available from our contract grow strategy launched in 2023 of our own genetics grown outside of the Delta Facility. We have received initial purchase orders for our Comatose and Blue Dream Full Spectrum Extract (“FSE”) resin vapes in Ontario, BC, and Alberta which are all expected to be delivered in May 2024 to the provincial distributors and available for purchase in retail stores shortly thereafter.
In line with our approach to the live rosin edibles we launched under the brand in 2023, we are focused on delivering products that maintain a competitive edge through superior quality, right price to value ratio leveraging our established and reputable brands. We are confident that by capitalizing on this opportunity, over time we can achieve comparable financial success with our vape offerings as we have with our flower business.
WildflowerTM’s leadership in cannabis wellness
WildflowerTM‘s prominence in the cannabis wellness sector is characterized by its notable dominance in topical products and the company has recently expanded the brand to other categories, including edibles, oils, and capsules designed to address specific wellness needs such as sleep, pain relief, and anxiety reduction. While we expect more competition to enter the topical and wellness category, we are expanding the brand into other categories and anticipate steady growth and momentum behind the daily wellness consumer.
Launch of new genetics
Rubicon plans to continue to launch new and novel genetics into its Simply BareTM Organic and 1964 Supply CoTM to continue leadership in the premium cannabis market. Launches in 2024 include BC Organic Zookies, BC Organic Power Mintz, and BC Organic Fruit Loopz under the Simply Bare TM Organic brand, and Blue Dream under the 1964 Supply CoTM brand.
Growth from solid business fundamentals
Consistent quality and systematic delivery to our customers, including the provincial distributors and retailers, and consumers to meet their needs is imperative to be successful in the Canadian cannabis industry. In 2024 we are investing in an Enterprise Resource Planning (“ERP”) system which is necessary for our business to deliver more growth in future and allow less reliance on key people within our internal systems. Anticipated project costs for 2024 are estimated to reach $1 million, with $0.3 million incurred in the first three months of 2024. While a resource intensive process, this ERP implementation readies our business for growth in future.
Financial
We believe that our commitment to cannabis quality, strategic brand positioning, diverse product portfolio, and committed team will position us as one of the premier cannabis companies in Canada. We anticipate year over year growth in net revenue, supported by modest increases in our cost base, excluding the impact of the ERP implementation occurring mostly in the first half, thereby enhancing our operating leverage. While we expect growth in 2024, we also anticipate that much of the growth will come from our branded products that are produced using external capacity and thereby deliver lower gross margin than our current mix. Furthermore, we expect continued fierce competition in the distressed Canadian cannabis industry with price compression across all categories. Notwithstanding these pressures, we expect to deliver continued operating positive cash flow in the year ahead and plan to refinance our debt to a longer-term mortgage facility in the second half of 2024.
Conference call
The company will be hosting a conference call to discuss Q1 2024 results on Thursday, May 16, 2024.
NONTHABURI, Thailand (AP) — Dozens of pro-cannabisadvocates gathered Thursday at the health ministry on the outskirts of the Thai capital, Bangkok, to oppose the government’s plan to relist the plant as a narcotic, two years after it was decriminalized.
The rally came after Prime Minister Srettha Thavisin last week said he would like the plant to be relisted as a narcotic again by the end of this year. Thailand became the first country in Asia to decriminalize it in 2022 for medical purposes, but in practice the market appears virtually unregulated, leading to public backlash and concerns over misuse and crime.
About 30 people came to the health ministry in Nonthaburi, just north of the Thai capital Bangkok, to petition minister Somsak Thepsuthin.
The group’s representative, Prasitchai Nunuan, said they all agreed that cannabis should be properly regulated, but that doesn’t require the rescheduling of the plant as a narcotic, noting possible economic impacts on a budding industry.
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“Whenever it is relisted as a narcotic, cannabis will be put in jail again,” Prasitchai said as health minister Somsak stood listening to the group’s demands.
Decriminalization of cannabis in 2022 was spearheaded by the Bhumjaithai Party, whose stronghold is in the impoverished northeast where it promised farmers cannabis would be a new cash crop.
Party leader Anutin Charnvirakul became health minister of the previous government, pushing through an amendment to the Narcotics Law, dropping cannabis from the list of controlled substances.
Somsak, who was appointed as health minister in last month’s cabinet reshuffle, responded that he would take the demands into consideration. The minister said that his standpoint has always been that cannabis should be used for medical purposes only, not recreational.
Chokwan “Kitty” Chopaka, a cannabis shop owner and activist, said that the government’s u-turn on the policy appears to be more political than scientific.
“I think the word stigma hasn’t actually been erased out of cannabis, even with the legalization,” she said.
Canadian-based medical cannabis company MediPharm Labs Corp. reported a 67% increase in revenue in the first three months of 2024 compared to the same period in 2022 but still had a $3.7 million operating loss for the quarter.
Adjusted EBITDA also improved by 70% from Q1 2023, but was still a loss of $949,000. Despite these losses, the company reports a strong balance sheet with $17 million in cash as of March 31, 2023, noting that its losses have been declining nearly every quarter over the past two years.
Greg Hunter, CFO of MediPharm Labs, noted that “Q1 2024 was another step in the right direction towards profitability and becoming cash flow positive. Our revenue and adjusted EBITDA were both the highest in over 3 years. Revenue was $9.8 million or 67% higher than prior year and adjusted EBITDA loss was $0.9 million, which is $2.1 million better than prior year. Our cash burn was approximately $1 million, resulting in an ending cash balance of $17 million with less than $3 million of debt. MediPharm is in a strong financial position to capitalize on our strong suite of licences, global customer contracts, and assets as we strive for profitability in 2024.”
MediPharm Labs’ revenue for Q1 2024 was $9.8 million, with a gross profit of $2.6 million.
In Q1 2024, the company’s medical cannabis sales in Australia were $1.8 million, a 64% increase from the previous quarter, primarily due to MediPharms Labs’ GMP vape sales. In a conference call discussing their results, a company representative said that there are several non-compliant vapes on the market in Australia that are not meeting these GMP demands.
MediPharm has sold into 10 international markets, including Australia, Germany, and Brazil.
MediPharm is also expecting recent changes to Germany’s cannabis legislation to help continue driving international sales. The company’s sales of medical cannabis into the German market were $1.4 million, a 36% increase from the previous quarter. The majority of these sales (70%) were non-flower cannabis products, including oil, CBD isolate, and dronabinol, a synthetic form of THC.
MediPharm’s Beacon Medical GMBH facility in Potsdam, Germany, also hosted a successful audit at its German office in March, which allowed for the continued import, manufacturing and release of cannabis products. Beacon Medical is a wholly owned subsidiary of MediPharm Labs and holds several German GMP medical cannabis licences to import, wholesale, and distribute GMP cannabis products.
This audit was followed by EU GMP renewal inspections at their Canadian sites. MediPharm now has 14 product registrations under the Beacon brand in Germany, up from five in the previous quarter. All of Medipharm’s German cannabis sales are supported by its manufacturing sites in Barrie and Napanee, Ontario.
MediPharm is also the only purpose-built cannabis facility to have been inspected by the US FDA. The company holds a current Drug Establishment Licence from the US agency and has been referenced in US FDA Investigational New Drug Applications, an Abbreviated New Drug Application, and a Drug Master File. The Company has also sent several cannabis oil shipments for clinical trials that are DEA approved.
In their recent year-end results for 2023, the company reported a net operating loss of $18.3 million, down from $29.5 million in the year prior. Loss on adjusted EBITDA in 2023 was $10.2 million, compared to a loss of $20.6 million in 2022.
Founded in 2015, MediPharm is a pharmaceutical company specializing in “precision-based cannabinoids,” and supplies the medical and non-medical markets in Canada with their Canna Farms and Harvest Medicine brands from their 2023 acquisition of Vivo Cannabis.
The company also supplies the Australia direct-to-patient and EU medical cannabis markets.
Nature’s Miracle Holding Inc., a leader in vertical farming technology and infrastructure, and Agrify Corporation, announced that both parties have signed a definitive agreement and plan of merger (“Agreement”) in which a new wholly-owned subsidiary of Nature’s Miracle will merge with and into Agrify, with Agrify surviving the merger as a wholly-owned subsidiary of Nature’s Miracle. The signing of the definitive agreement directly follows the previously announced term sheet for the merger. The Transaction Agrify shareholders who do not dissent to the merger will each be issued 0.45 of a share of Nature’s Miracle common stock for each share of Agrify common stock that they hold. Based on the companies’ current capitalization, it is anticipated that Agrify shareholders will collectively own approximately 30% of the post-merger common stock of the combined companies. In addition, Nature’s Miracle agreed to purchase and guarantee certain senior and junior notes issued by Agrify with a combination of cash and Nature’s Miracle stock.
The Opportunity The management teams of Nature’s Miracle and Agrify will unite, enriched with deep industry and public company operational expertise, to create an industry leading consolidated organization focused on indoor vertical farming supported by a prominent cannabis extraction division. Upon completion of the merger, management will focus on increasing Nature’s Miracle’s market share supported by the alliance of the core business segments of each company including LED lighting, grow feed, indoor farming control systems, artificial intelligence enabled technology and software, and operations to source product in Asia and expand manufacturing in the U.S. The transaction is expected to close in the second half of 2024, subject to shareholder approval and other customary closing conditions.
Management Commentary James Li, Chief Executive Officer of Nature’s Miracle, commented, “As we work towards merger completion, we are confident that the “one” Nature’s Miracle and Agrify business will result in significant market share growth as consumer adoption increases across the vertical farming agriculture industry. The collaboration going forward with Raymond and his skilled Agrify team is representative of a long history of industry interaction and represents natural business synergies from cross-sell opportunities to savings on public-company expenses and working together to reduce sourcing and manufacturing costs. Our goal is to drive the growth of the unified business and achieve coordinated success to realize value for all stakeholders.”
Raymond Chang, Chief Executive Officer and Chairman of the Board of Agrify, stated, “We believe the cannabis industry needs consolidation. The combined forces of Agrify and Nature Miracle will elevate our innovative, disruptive, and high-quality technology and service offerings for both the cannabis and agriculture industries. Nature Miracle’s lighting and indoor farming offerings, along with Agrify’s cultivation and extraction technologies, will allow operators to utilize AI and automation to scale with operational consistency. We are optimistic the strength of the combined company’s IP in vertical farming and extraction is a significant growth opportunity.”
About Nature’s Miracle Holding Inc. Nature’s Miracle is an integrated agriculture technology company providing equipment and services to the Controlled Environment Agriculture industry. Through its two wholly-owned subsidiaries Visiontech Group, Inc. and Hydroman, Inc., the company offers products including horticultural lighting, irrigation systems, power distribution systems, materials and equipment to indoor, greenhouse, hydroponic and vertical growers. Nature’s Miracle has also developed cost-effective solutions for greenhouse systems, automated vertical farming, and modular container grow systems. For more information, please visit www.Nature-Miracle.com.
About Agrify Agrify is a leading provider of innovative cultivation and extraction solutions for the cannabis industry, bringing data, science, and technology to the forefront of the market. Agrify’s proprietary micro-environment-controlled Vertical Farming Units (VFUs), enable cultivators to produce the highest quality products with unmatched consistency, yield, and ROI (return on investment) at scale. Agrify’s comprehensive extraction product line, which includes hydrocarbon, ethanol, solventless extraction, post-processing, and lab equipment, empowers producers to maximize the quantity and quality of extract required for premium concentrates. For more information, please visit Agrify’s website at www.agrify.com.
Pure Sunfarms Corp., a leading producer in the Canadian cannabis market and wholly owned subsidiary of Village Farms International, Inc., expands its roster of quality dried flower with Kush God – a fresh cultivar of iconic lineage. The powerful new indica is a genetic powerhouse, from two iconic parent strains: Pink Kush and Pineapple God. It is also the first Pink Kush cross from the Pure Sunfarms breeding program, bringing dedicated fans of the strains an exciting new offering.
“Kush God is the best of our genetics coming together, combining the unique characteristics from two of our most powerful cultivars. We crossed our all-time best-selling Pink Kush with our bold, frosty and fruity Pineapple God to create an epic strain we know consumers will love,” says Orville Bovenschen. “We’re always pheno-hunting and developing new strains, and this one is exceptional, I would consider it to be a quad.”
Pink Kush has cemented its place as a consumer favourite since its launch four years ago, maintaining a record as the #1 top-selling strain through 2023 in Ontario (Canada’s largest market)1. As of April 2024, Pink Kush represents the most popular strain nation-wide2. Pure Sunfarms’ own Pineapple God has seen similar success since hitting markets in spring 2023, becoming a top seller in the premium flower category and currently holding its place as the #1 premium flower product nationally3.
Having launched in B.C. this March, Kush God is already a top 10 (#8) selling flower product in the province4. Currently available across B.C, Ontario, Manitoba and Saskatchewan, with Alberta coming soon, Kush God arrives just in time for summer.
_____ 1 Based on estimated retail sales reported by HiFyre for 2023. 2 Based on rolling three-month sales to April 2024 reported by HiFyre. 3 Based on estimated retail sales for April 2024 reported by HiFyre. 4 Based on BCLDB estimated retail sales for April 2024.
About Pure Sunfarms Pure Sunfarms is a global leader in cultivation, operating one of the largest cannabis facilities in the world. With a focus on high-quality BC-grown cannabis, the company combines decades of agricultural and legacy experience with large-scale operational excellence in its state-of-the-art greenhouses located in Delta, British Columbia.
Cannabix Technologies Inc. reports that it has entered into a strategic partnership and development agreement dated May 15, 2024 (the “Agreement”) with Omega Laboratories Inc of Ohio, USA. The Agreement provides a pathway for commercialization of Cannabix’s marijuana breathalyzer technology.
Omega Laboratories is an international industry leader in forensic drugs of abuse testing for over twenty years. Omega has multiple federal as well as international certifications and accreditations for its world class facility and has extensive experience in novel technology for detection of drugs of abuse.
Pursuant to the Agreement, Cannabix and Omega Laboratories (together, the “Parties”) have agreed to, among other things, complete research and development, refine and expand the use of Cannabix’s technology to meet existing and emerging needs of Omega’s clients, contemplate manufacturing and distribution and introduce the delta9 THC breath testing technology to customers in North America.
Highlights:
Cannabix and Omega have entered into the Agreement for the purpose of facilitating an pathway for commercialization of Cannabix’s innovative technology.
Omega will be the exclusive laboratory in North America to process and analyze Cannabix delta9 THC breath sample cartridges in conjunction with its Breath Collection Unit and Mass Spectrometer Breath Sampler technology (the “Cannabix Hardware”) for five (5) years.
The Agreement contemplates critical steps to further Cannabix’s technology from the research and development stage to commercialization.
Pursuant to the Agreement, the Parties agreed to key milestones that will provide mutual benefits to each of Cannabix and Omega including validation of results, publication of validation results to industry journals, and enter into potential large-scale studies, and testing agreements with Omega’s clients.
The Agreement contemplates hardware licence fees, revenues, future manufacturing, distribution arrangements, carve outs and leaves the door open for additional agreements in other global jurisdictions.
Omega will become a shareholder of Cannabix (as more particularly described below) and, pursuant to the Agreement, Omega was granted the right to appoint a director to the Company’s board of directors, subject to certain conditions including, but not limited to, the Board Right Threshold (as defined below).
Omega Laboratories is headquartered in Ohio, USA in a state-of-the-art facility providing drugs of abuse testing to over 6,000 clients worldwide, including several Fortune 500 companies police and highway patrols, several court systems, military organizations, and school systems. Omega also has one of the largest Third-Party Administrator (TPA) client lists in America.
Bill Corl, CEO of Omega Laboratories, stated, “Our partnership with Cannabix Technologies underscores our commitment to staying at the forefront of advancements in drug testing technology. By incorporating their groundbreaking THC breathalyzer technology, we are poised to enhance the accuracy, efficiency, and accessibility of cannabis testing.”
Rav Mlait, CEO of Cannabix stated, “This strategic partnership and development agreement with Omega Laboratories is a major inflection point for Cannabix Technologies. Cannabix, as an early-stage company, has been focused on technological innovation in breath analysis and we are truly excited to be working alongside Omega. Omega has tremendous people, expertise and capabilities in drug testing, regulatory, accreditation and business relationships globally.”
Dr. Bruce Goldberger, Scientific Advisor to Cannabix, stated, “The strategic partnership with Omega Laboratories is an important step towards the adoption of this new and innovative technology in the workplace and traffic safety sectors.”
Agreement Terms The Agreement includes an “R&D Phase” and “Commercial Phase” and “Exclusive Testing” of Cannabix’s delta9 THC breath sample cartridges for drugs for five (5) years within North America, subject to certain exemptions as set out in the Agreement. The R&D phase covers key milestone developments where the Parties will work within Omega’s certified laboratories. During the Commercial Phase of the Agreement, the Parties will determine, pricing, licensing and other revenue parameters.
As consideration for the completion of specific milestones by Omega and to align the interests of both parties, Omega will receive : (i) 1,000,000 common shares of the Company (each, a “Common Share”), which will be issued by the Company to Omega in conjunction with the execution of the Agreement; and (ii) an aggregate of 11,000,000 special warrants (the “Special Warrants”) of the Company that will vest and automatically convert into Common Shares (each, a “Special Warrant Share”) upon the occurrence of specific milestones as set out in the Agreement and summarized as follows:
R&D Phase
3,000,000 of the Special Warrants will convert into Special Warrant Shares upon Omega completing a Validation Packet for Cannabix Hardware under forensic testing validation requirements. Omega will have six (6) months from the date of the Agreement to complete and certify a Validation Packet of Cannabix Hardware;
2,000,000 of the Special Warrants will convert into Special Warrant Shares upon Omega successfully converting the Validation Packet data into a white paper for publishing in peer reviewed journal and the submission of a formal proposal to use Cannabix Hardware in a prominent study. Omega will have twelve (12) months from the date of the Agreement to complete this milestone; and
2,000,000 of the Special Warrants will convert into Special Warrant Shares upon Omega successfully achieving detection of a panel of drugs (“Drug Panel”) using existing or enhanced Cannabix Hardware. Achieving a Drug Panel would entail establishing that the Cannabix Hardware could detect multiple drug species in breath in addition to delta9 THC.
Commercial Phase
Subject to the achievement of the “R&D Phase” milestones: (i) 2,000,000 of the Special Warrants will convert into Special Warrant Shares upon Omega entering into a commercial testing agreement (a “Testing Agreement”) with three (3) of its clients for employee drug testing; and (ii) 2,000,000 of the Special Warrants will convert into Special Warrant Shares upon Omega entering into a Testing Agreement with three (3) law enforcement organizations (being either state, civic or municipal police agencies).
The Special Warrants expire on the date that is five (5) years from the date of execution of the Agreement. All securities issuances described herein remain subject to the approval of the Canadian Securities Exchange (the “CSE”), if necessary. All securities issued pursuant to the Agreement are subject to a four-month plus one day hold period.
Manufacturing, Distribution, Intellectual Property and Other Terms
During the Commercial Phase, the Parties have agreed that they will negotiate to enter into a distribution agreement with Omega for the North American distribution of Cannabix Hardware.
During the Commercial Phase, the Parties may negotiate to enter into a manufacturing and/or license agreement whereby Omega would manage the manufacturing of the Cannabix Hardware.
For so long as Omega holds at least 3,000,000 Common Shares, Omega will have the right to appoint one person to the board of directors (the “Board Right Threshold”).
Omega will have a right of first refusal for a period of two (2) years after the date of the Agreement to participate in future equity private placements conducted by the Company.
Under the Agreement, Cannabix will retain interest to all developed and background intellectual property.
About Omega Laboratories, Inc. Omega Laboratories, headquartered in Mogadore, Ohio with additional state-of-the-art facilities in Ontario and British Columbia, Canada provides laboratory-based advanced testing solutions to over 6,000 clients worldwide. Omega Laboratories has over 22 years of experience in pioneering innovative drug testing methodologies, specializing in the detection of drugs of abuse utilizing Hair, Oral Fluid and Urine. Omega continues to innovate with the launch of their Technical Solutions portfolio that incorporates a paperless Custody & Control Form system (CCF) in eight languages, licensure of a Laboratory Information Management System (LIMS) designed specifically for Toxicology and powers new laboratories in countries that have demand for local service providers.
About Cannabix Technologies Inc. Cannabix Technologies Inc. is a developer of marijuana and alcohol breathalyzer technologies for law enforcement, workplaces and laboratories. Cannabix is developing delta-9 THC and alcohol screening devices. Delta-9 THC is the psychoactive component of marijuana that causes impairment. Breath testing for delta-9 THC would allow employers and law enforcement to identify recent marijuana use. Cannabix is the developer of its Breath Logix Series of breath alcohol detection devices for employers and a range of other settings.
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