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CannaBNN News for 30 Sept 2022: Halo Acquires Pistil Point Assets, Canada begins Cannabis Act Review

Halo Collective Inc has completed their acquisition of all Pistil Point operating assets. The US$4 million deal has given Halo full ownership of Decatur One LLC, Bradford Two LLC, and Bradford Three LLC assets.

“The acquisition of the Pistil Point operating assets is a key milestone for our home market of Oregon,” stated CEO and Chairman Katie Field. “With increased ownership of our supply chain, we are better able to meet consumer demand for high quality products while also delivering improved economics for the business. We are confident that consummating this acquisition strengthens our Company and helps us achieve our overall goal of rebuilding shareholder value.”

Press release: https://www.newswire.ca/news-releases/halo-collective-completes-acquisition-of-premium-indoor-grow-and-distribution-hub-in-portland-oregon-810202477.html

Optimind Pharma Corp is pleased to announce the acquisition of MindSetting Institute. The acquisition allows Optimind to use the proprietary Therapeutic Reet of Internal Processes (TRIP) Protocol ™ to combine psychotherapy and ketamine in an individually customized approach to treating depression. Anxiety and PTSS in patients.

“Having MindSetting join the Optimind family will allow us to not only equip experienced clinicians and facilitators with the skills required to implement the reputable TRIP Protocol™ into our clinics, but it will help arm Optimind with a complete approach in how we can tackle therapeutic treatments,” said Tomas Sipos, CEO of Optimind Pharma. “Now, with clinician education through this acquisition, our Optimind clinics, and our joint venture in Psilocybin research, we’ve created a three-pronged approach to being leaders in the psychedelic enhanced psychotherapy space.”

Press release: https://www.newsfilecorp.com/release/137751/Optimind-Acquires-MindSetting-Institute-to-Integrate-ThreePronged-Approach-to-its-Business-and-Become-Industry-Leader-in-Psychedelic-Enhanced-Psychotherapy

TPCO Holding Corp has acquired the remaining equity (15%) of Calma Weho LLC dispensary. Uniquely situated in the West Hollywood area, Calma has embraced the Company’s “store within a store” Monogram brand of products.

“The energy and excitement at Calma are fantastic, and it boasts the best flower assortment in West Hollywood,” announced Troy Datcher, Chief Executive Officer and Chairman of The Parent Company. “It’s both a beautiful dispensary and an incredible gathering space that we have used to host events and collaborations, including our recent FaZe Rain RCVRY product launch, which saw phenomenal community response and surpassed our expectations. With an intentional menu selection that showcases a variety of consumption methods, Calma caters to both those about to embark on their cannabis journey as well as experienced connoisseurs, and we are thrilled to have now completed the acquisition.”

Press release: https://www.newswire.ca/news-releases/the-parent-company-completes-the-acquisition-of-calma-883695281.html

Ascend Wellness Holdings Inc has announced Chief Financial Officer Daniel Neville and President and Co-Founder Frank Perullo have been appointed Interim Co-CEOs effective immediately. The Board is searching for the right CEO for the Company’s growth.

“AWH has an incredibly strong foundation in place and remains well positioned to advance the goal of breaking down traditional walls in the cannabis marketplace and redefining the industry from the ground up. As the Company prepares to enter the next phase of its growth story, the Board determined that now was the right time to initiate this transition,” a statement from the Board read. “While the Board executes its search for the Company’s next CEO, AWH is fortunate to have Dan and Frank at the helm. They are both intimately familiar with AWH, and the Board is confident that they are well equipped to guide the Company forward and continue executing our strategic priorities during this period.”

Press release: https://www.newswire.ca/news-releases/ascend-wellness-holdings-initiates-leadership-transition-plan-834454555.html

Vext Science Inc has applied for a provisional patent for a new crystalline form of phytocannabinoid acids. The discovery was made in collaboration with Arizona State university and BioSciTech researchers.

“The filing of this provisional patent is a first step in what is a significant effort by our R&D team towards continuing to expand our portfolio of innovative cannabis products,” said Eric Offenberger, CEO of Vext. “We are pleased to partner with the well-regarded research teams at ASU and BioSciTech to highlight the potentially wide-ranging applications and benefits of naturally produced phytocannabinoid acids, and look forward to leaning on their expertise, as we explore commercialization within the pharmaceutical industry.”

Press release: https://www.newswire.ca/news-releases/vext-science-announces-filing-of-provisional-patent-application-847744398.html

A legislative review of Canada’s Cannabis Act is now underway. The Act aims to protect the health and safety of Canadians and establishing a competitive and diverse legal market. The review will be conducted by an Independent Expert Panel that will be chaired by Mr. Morris Rosenberg.

“I am honoured to be leading the Expert Panel in conducting a thorough, independent review of the Cannabis Act,” commented Mr. Rosenberg. “I look forward to hearing the perspectives of the public, stakeholders, and First Nations, Inuit and Métis peoples through the online engagement process underway.”

Press release: https://www.newswire.ca/news-releases/government-of-canada-launches-legislative-review-of-the-cannabis-act-850043281.html

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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.