Venture Breakfast Bits, by 24/7 Market News

Venture Market News for October 23, 2018

  • New U.S. Patent Allowance Granted to AXIM® Biotechnologies for Suppository Formulations Comprised of Cannabinoids

NEW YORK, Oct. 23, 2018 (GLOBE NEWSWIRE) — AXIM® Biotechnologies, Inc. (“AXIM® Biotech” or “AXIM”) (OTCQB: AXIM), a world leader in cannabinoid research and development, today announced that the United States Patent and Trademark Office (USPTO) has issued a patent (US 10,092,538 B2) on a suppository composition comprising cannabinoids developed by the company. The USPTO made the determination that a patent can be granted from AXIM’s patent application, filed in Oct. 2017.

Full press release

  • Scythian Biosciences Makes Strategic Investment in Verano™ Holdings with $188 Million USD Transaction

Scythian Invests USD$88 Million in Verano Class B Membership Units

Scythian to Sell 3 Boys Farms in Share Exchange for USD$100 Million in Verano Class B Membership Units

M&A Identified, Talent and Capital Aligned for Aggressive Expansion, and Verano Actively Pursuing Future Financings to Fund National Growth Strategy with a View of Undertaking a Go-Public Transaction

Consolidates Licensed Cannabis Operations in Florida, Ohio, Nevada, Illinois, Maryland, Michigan and Puerto Rico

TORONTO, Oct. 23, 2018 (GLOBE NEWSWIRE) — Scythian Biosciences Corp. (the “Company” or “Scythian”) (CSE:SCYB) (Frankfurt:9SB) (OTC – Nasdaq Intl:SCCYF) is pleased to announce a USD$88 million investment in Class B units in Verano Holdings, LLC (“Verano”), a private, Delaware organized, vertically integrated, licensed operator of cannabis cultivation, manufacturing and retail facilities across six key U.S. states and Puerto Rico.  Scythian has also agreed to sell a 100% interest in 3 Boys Farms LLC (“3 Boys Farms”), which it will acquire as described below, to Verano in exchange for USD$100 million of Class B units in Verano. All transactions related to 3 Boys Farms are subject to the receipt of all required governmental approvals including from the Florida Department of Health, Office of Medical Marijuana Use (“Florida OMMU”).

Full press release

  • Novo Integrated Sciences, Inc. Signs Binding LOI for Ownership in Cannabis Cultivator & Seller CannaPiece Group Inc.

BELLEVUE, Wash., Oct. 23, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — Novo Integrated Sciences, Inc. (OTCQB:NVOS) (“Novo Integrated Sciences”, or the “Company”) and Novo Healthnet Limited (“NHL”), a wholly owned subsidiary of the Company, announced today that on October 10, 2018 the Company and NHL executed a binding letter of intent (“LOI”) with CannaPiece Group Inc. (CannaPiece” or “CG”), a Canadian company involved in the cultivation and sale of cannabis.

Full press release

  • American Lithium Verifies Lithium Potential With Assays Up to 1380 Ppm on New Tonopah Claystone Claims (TLC), Plans Drilling and Leachability Tests

VANCOUVER, British Columbia, Oct. 23, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA1;)(“American Lithium” or the “Company”) is pleased to announce the results of its first sampling program on the Tonopah Lithium Claims, (TLC Project). The TLC Project is an early stage 1,550 acre lithium claystone project located minutes from the mining centre of Tonopah, Nevada, and required infrastructure.

Full press release

  • Pacific Financial Corp Posts Record Earnings of $3.2 Million, or $0.30 per Share for 3Q18, Up 22% from 2Q18 and 48% from 3Q17; Earns $8.1 Million, or $0.76 per Share for YTD 2018, Up 44% from YTD 2017

ABERDEEN, Wash., Oct. 23, 2018 (GLOBE NEWSWIRE) — Pacific Financial Corporation (OTCQB: PFLC), the holding company for Bank of the Pacific, today reported net income increased 22% to $3.2 million, or $0.30 per diluted share, for the third quarter of 2018, compared to $2.6 million, or $0.25 per diluted share, for the second quarter of 2018 and increased 48% compared to $2.2 million, or $0.20 per diluted share, for the third quarter of 2017. For the first nine months ended September 30, 2018, net income was $8.1 million, or $0.76 per diluted share, up 44% from $5.6 million, or $0.53 per diluted share, for the first nine months of 2017.

Full press release

  • Terra Tech Corp. Completes Sale of Western Avenue, Nevada Retail Dispensary for $6.25 million

IRVINE, Calif., Oct. 23, 2018 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX: TRTC), (“Terra Tech” or the “Company”) a vertically integrated cannabis-focused agriculture company, has completed its previously announced sale of 100% of the assets of its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for a total consideration of $6,250,000. The Company plans to use the proceeds from the sale to further develop its retail dispensary capabilities in new locations that have better proximity to major tourist attractions in Las Vegas.

Full press release

  • PotNetwork Holdings, Inc. Reports $18.1 Million in Sales Surpassing Entire Revenue Generated in 2017

PotNetwork Holdings, Inc. (OTC Pink: POTN) today announced sales of $18.1 Million for the first 9 months of the year, realizing an $8.6 Million increase in year over year sales. This follows the Company’s recent announcement of its record third quarter revenues of $6.1 Million.

Full press release

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