Valens and BRNT Launch New Disposable Vape Line - Cannabis Business Times

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The two companies will release three vapes in Canada based on the new Made By series and announced revisions to their business relationships.

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The producer of hemp products announced on June 8 that it will cooperate with BRNT Group to launch the vape series "Made By". In addition, the company also announced a strategic revision to the existing custom production agreement with BRNT, a cannabis product design company.

The new Made By series will include three disposable vape pens designed in collaboration with Canadian artists. The series of vape pens will be available online and at select retailers in Alberta later this month. In the next few weeks, these pens are expected to be available in British Columbia, online and in some stores in Ontario. All three pens are high THC, low CBD hybrid pens, called headband, white rhino and Critical Kali Mist.

Valence also announced revisions to it

 with

. The previous terms of the agreement (including profit sharing and minimum transaction amount) have been modified into a royalty structure to provide a more streamlined economic principle and incentivize high-volume sales in a dynamic market. Valens Company also cooperated with BRNT to develop a new product line of 510 threaded vape cartridges, which will be launched at the end of 2020. 

The California-based cannabis company stated that the delay was due to the COVID-19 pandemic and plans to submit its fiscal 2019 earnings by July 10, 2020.

Oakland and Toronto, California, June 8, 2020 / CNW / -Press Release-

A vertically integrated cannabis company headquartered in California and headquartered in Toronto announced on June 8 that it had updated its previous application to the Ontario Securities Commission (OSC) to manage termination of trade orders (MCTO). As announced on April 23, 2020, Harborside continues to expect its fiscal year ending December 31, 2019 to generate approximately $50 million in revenue, with negative adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA), revenue was approximately US$14 for the first quarter ended March 31, 2020, which was US$1 million, and adjusted EBITDA was positive.

Due to the continuing impact of COVID-19, OSC agreed to grant Harborside MCTO the previously announced delay in submitting its audited annual financial statements and the right to discuss and analyze the corresponding management for the year ended December 31, 2019. Starting from the annual application deadline June 15, 2020, the MCTO has a 30-day period. Harborside plans to apply no later than July 10, 2020.

In addition, OSC has issued certain historical financial statements with Harborside’s previously announced plans for the fiscal years ending December 31, 2017 and December 31, 2018, and the transition period ending March 31, 2019 and June 30. The temporary shutdown orders for the consolidation of the statement, September 30, 2019, and any corresponding management discussions and analysis are mainly due to the accounting treatment method adopted by its reverse takeover acquirer FLRish Inc. for certain transactions The changes have taken place and Harborside does not anticipate any fundamental changes due to the restatement of the documents, which will restore its current financial position. The interim order prevented the trading of Harbourside’s subordinate voting shares from taking effect immediately and will expire after 15 days. If the company is unable to resubmit the restated documents before June 22, 2020, OSC will issue a permanent suspension order.

Harborside expects that if the company has submitted audited financial statements for the fiscal years ending December 31, 2017, 2018, and December 31, 2019, the temporary order (or any permanently terminated trade order) will be cancelled , After that, for any restatement incomplete documents, the maximum validity period is 30 days.

After filing, Harborside will release an update.

The legislation was voted down by the Federal and State Affairs Committee at a special session of the Legislative Assembly.

During the recent special session of the legislature, a bill to legalize medical marijuana in Kansas was delayed on the committee. According to reports,

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According to reports, the legislation proposed by Congressman Cindy Holscher (D) and seven other co-sponsors was rejected in a vote by the Federal and State Affairs Committee.

, The bill provides guidelines for tracking the distribution of medical marijuana and details the health care requirements for recommending medical marijuana to patients, although the regulation does not establish a list of eligible conditions.

According to locals, the legalization of medical marijuana has received bipartisan support in the legislature this year, and Governor Laura Kelly has expressed support for legalization.

The Ministry of Health has cancelled the proposal for two licensed medical cannabidiol dispensaries, but state officials plan to reissue the application in the next few days.

The Iowa Department of Health has cancelled the proposed requirements for two licensed cannabinoid dispensaries.

According to an official, earlier this year, state officials plan to reissue the application in the next few days.

According to media reports, since the Department of Health originally issued its RFP, the new law has amended Iowa's medical cannabis program, and this change was made before then.

Iowa State Senate

Last week, the state’s current limit of 3% THC for medical marijuana products was replaced with a limit of 4.5 grams of THC within a 90-day period. The regulation was sent to Governor Kim Reynolds for consideration. .

"The previous RFP was an ancient plan to some extent," Owen Parker, plan manager at the Office of Medical Cannabidiol, Department of Public Health, told reporters.

. "We hope that licensees are familiar with the new plan."

Earlier this year, two medical marijuana dispensaries owned by Have A Heart Compassionate Care closed in Bills Bluffs and Davenport and opened offices for two new stores.

The Ministry of Health said in a press release at the time: “Providing medical cannabidiol products for patients is very important to the department. We understand that the closure measures may give patients and patients in the Council Bluffs and Davenport areas. Nursing staff bring difficulties.” “The department is committed to providing medical services to patients and will work hard to issue licenses for two new pharmacies as soon as possible.”

The report is required by the state's medical marijuana laws.

Missouri regulatory agency first released

Participated in the state's medical cannabis program on June 5 in accordance with the requirements of the state's medical cannabis law (passed by voters in 2018).

According to the report, the state approved 23,269 patients and caregivers in 2019, although medical marijuana sales have not yet started.

Data show that 33% of registered patients and caregivers have been approved to grow their own marijuana, and most patients (32.5%) plan to use medical marijuana to treat mental illness.

Other eligible conditions in the program include chronic diseases, physical/psychological dependence, migraine, cancer, epilepsy, neuropathy, HIV, Crohn’s disease, inflammatory bowel disease, hepatitis and other chronic debilitating medical diseases.

The majority of registered patients (21.77%) are 30-39 years old, .37% are 17 years and younger, 12.35% are 18-29, 18.92% are 40-29, 19.22% are 50-59 and 4.04% are 70 years and older .

The report stated that the state received 582 applications for 60 available planting licenses, 430 applications for 86 production licenses, 1,219 applications for 192 pharmacy licenses, and 17 applications for 10 testing laboratory licenses. Application.

According to a regulator, the regulator is now in the final stages of implementing the plan.

. According to news media reports, this stage requires hiring and training of personnel to regulate compliance and implement the plan’s rules.

However, an investigation into the launch of Missouri's medical marijuana program was underway last month

. The investigation was conducted after state officials received a complaint that alleged violations and conflicts of interest in the licensing process, but the State Department of Health and Advanced Services has announced plans to launch Missouri's medical marijuana program this summer.

The Interactive Legislation Map of the Cannabis Business Times is another tool that helps growers quickly browse the cannabis laws in each state and find news related to their market.

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