CannaBNN Headlines for Wednesday, June 29, 2022: Acquisition Spree Continues as Sundial Buys Zenabis, Promotions Heat Up as CLIKBO and Choclair Team Up

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Sundial Growers Inc has entered into a purchase agreement with Zenabis Global Inc pending approval from the Quebec Superior Court. Assets covered by the agreement include the Atholville, New Brunswick growing facility and the Stellarton, Nova Scotia facility.

“We are committed to creating continuity for the Zenabis Group’s operations and employees and assisting Zenabis in good faith with its restructuring,” said Zach George, Sundial CEO. “This process has just begun, and we will provide more information as it becomes available.”

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Body and Mind Inc. has switched $1.25M of the purchase price of Seaside dispensary from cash to common stock.

“The combination of our recent debt extension, pausing our Michigan cultivation and reduced cash payment for the Seaside dispensary are designed to strengthen the Body and Mind balance sheet for future development,” said Body and Mind CEO Michael Mills. “We continue to focus on our cultivation, manufacturing and retail operations as we expand our brand and wholesale business and develop new strains and innovative products.”

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CLIKBO Labs and Kareem Blake (AKA Choclair) have an agreement that will see Choclair promoting CLIKBO Labs products and the release of Choclair branded items and events.

“Hip-hop culture and lifestyle have always been a cornerstone of our designs,” said Noah Shopsowitz, CEO of CLICKBO. “From our earliest product launches, we found acceptance and adoption with DJ’s and a broad hip-hop audience. Our ‘personal carrier’ containers are specifically designed to improve freshness, be odor resistant, crush-proof, and food safe. Our company motto is FASHION+UTILITY and our accessories can be fastened with assorted clips, lanyards, chains, and fobs to knapsacks, keychains, and purses. It’s all about de-stigmatizing the emerging legal cannabis lifestyle.”

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Sproutly Canada Inc and Toronto Herbal Remedies Inc have filed a petition to restructure their finances and business affairs with the Ontario Superior Court of Justice.

“At this stage of Sproutly’s evolution, our best path to capitalize on the APP technology and be able to produce innovative products required the sale of THR,” said Arup Sen, CEO of Sproutly. “Especially in light of our progress in the newly formed joint venture with KCI, the execution of product development, manufacturing, and marketing in Canada requires a total focus on the operations of the joint venture and approaching prospective partners in the territories where Sproutly has rights to APP technology.”

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Health Canada has given Nirvana Life Sciences Inc approval to build its research and development facility in Vancouver, BC. Stratus designs has been selected to see that the building meets Licensed Dealer requirements and optimizes operations efficiency. 

“This is what we have been waiting for, the approval to build is a critical milestone on our roadmap to becoming a fully approved Licensed Dealer,” said Nirvana Operations VP Michael McCune. “We have the utmost confidence in Stratus Designs Ltd. to see this project through to completion and final approval as they have a proven track record in facility construction for the pharmaceutical, nutraceutical, and cannabis production sectors.”

The Company has also filed for a provisional patent for a novel isolation process of the psychedelic compound 4-PO-Psilocin.

“We are very excited to bring this innovation to this stage of development, this will allow us to develop further compounds and delivery systems that can revolutionize the psychedelic sector,” said Robert August, Head of Innovation. “

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Candace Hawkins

Candace Hawkins

Candace Hawkins (she/her) is a Canadian living on the traditional lands of the Six Nations Peoples. She is a longtime advocate for medicinal cannabis and legalization.