Proactiveinvestors USA & Canada AusCann Group Holdings Ltd https://www.proactiveinvestors.com Proactiveinvestors USA & Canada AusCann Group Holdings Ltd RSS feed en Mon, 22 Apr 2019 03:07:16 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - AusCann Group’s MacLeman buys shares on-market ]]> https://www.proactiveinvestors.com/companies/news/217367/auscann-groups-macleman-buys-shares-on-market-217367.html AusCann Group Holdings Ltd’s (ASX:AC8) interim CEO and director Paul MacLeman has purchased 30,268 shares priced at 33 cents each via on-market trades.

MacLeman is an experienced pharmaceutical executive and was appointed to the company’s board in September 2018.

This is MacLeman’s first purchase of company shares.

READ: AusCann Group chairman buys $58,238 worth of shares on-market

In late February 2019, AusCann appointed global pharmaceutical business executive Ido Kanyon as its CEO commencing 22 May 2019.

Kanyon brings more than 15 years’ senior executive experience in the pharmaceutical industry most recently at multi-billion dollar Teva Pharmaceutical Industries Ltd (NYSE:TEVA).

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Thu, 28 Mar 2019 08:38:00 -0400 https://www.proactiveinvestors.com/companies/news/217367/auscann-groups-macleman-buys-shares-on-market-217367.html
<![CDATA[News - AusCann Group chairman buys $58,238 worth of shares on-market ]]> https://www.proactiveinvestors.com/companies/news/216239/auscann-group-chairman-buys-58238-worth-of-shares-on-market-216239.html AusCann Group Holdings Ltd's (ASX:AC8) chairman Mal Washer has purchased 144,000 shares in the company valued at $58,238.

The purchase was completed via on-market trades and increases Washer's total holding in the company to 12.85 million shares.

Shares in the company last traded at 38 cents, a discount to Washer's average purchase price of 40.44 cents.

READ: AusCann Group appoints Teva Pharmaceutical executive as new CEO

Recently, AusCann appointed global pharmaceutical business executive Ido Kanyon, as its CEO commencing 22 May 2019.

Kanyon brings more than 15 years’ senior executive experience in the pharmaceutical industry most recently at multi-billion dollar Teva Pharmaceutical Industries Ltd (NYSE:TEVA).

Teva is the world's largest generic pharmaceutical company which also specialised in the development and commercialisation of active pharmaceutical ingredients and specialty proprietary medicines.

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Tue, 12 Mar 2019 12:54:00 -0400 https://www.proactiveinvestors.com/companies/news/216239/auscann-group-chairman-buys-58238-worth-of-shares-on-market-216239.html
<![CDATA[News - AusCann Group appoints Teva Pharmaceutical executive as new CEO ]]> https://www.proactiveinvestors.com/companies/news/215165/auscann-group-appoints-teva-pharmaceutical-executive-as-new-ceo-215165.html AusCann Group Holdings Ltd (ASX:AC8) has appointed global pharmaceutical business executive Ido Kanyon, as its CEO commencing 22 May 2019.

Kanyon brings more than 15 years’ senior executive experience in the pharmaceutical industry most recently at multi-billion dollar Teva Pharmaceutical Industries Ltd (NYSE:TEVA).

Teva is the world's largest generic pharmaceutical company which also specialised in the development and commercialisation of active pharmaceutical ingredients and specialty proprietary medicines.

READ: AusCann Group secures supplier of cannabis resin for upcoming manufacturing

AusCann’s chairman Dr Mal Washer said: “Our extensive executive search generated an impressive field of candidates and Ido stood out for his leadership acumen and track record of commercial achievements throughout his career.

“Ido is very highly regarded in the pharmaceutical industry and having worked both for startups and for one of the largest pharmaceutical firms worldwide, he understands AusCann’s start-up origins and where the firm is headed.

“We are confident that his experience, energy and drive will successfully lead AusCann into its next phase of growth as a pharmaceutical development, sales and marketing business.”

READ: AusCann Group on track to produce cannabinoid medicines this year

Kanyon added: “I am absolutely delighted to be appointed as AusCann’s CEO during this exciting time.

“Medicinal cannabis will have an ever-increasing presence in healthcare as a credible treatment for chronic pain and additional indications with unmet medical needs.

“I believe there is a unique opportunity to place patients, physicians and caregivers at the centre of our mission.

“I am excited by AusCann’s commitment to deliver with the highest standards of quality, innovation and trust.”

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Mon, 25 Feb 2019 10:41:00 -0500 https://www.proactiveinvestors.com/companies/news/215165/auscann-group-appoints-teva-pharmaceutical-executive-as-new-ceo-215165.html
<![CDATA[News - AusCann Group secures supplier of cannabis resin for upcoming manufacturing ]]> https://www.proactiveinvestors.com/companies/news/215001/auscann-group-secures-supplier-of-cannabis-resin-for-upcoming-manufacturing-215001.html AusCann Group Holdings Ltd (ASX:AC8) has entered into a supply agreement to purchase cannabis resin from MediPharm Labs Corporation (TSXV:LABS) (OTCQB:MLCPF).

The high-grade cannabis resin will primarily be used in the manufacture of AusCann’s first product line of hard-shell cannabinoid capsules.

MediPharm is Canada’s largest and most experienced supplier of purified, pharmaceutical grade cannabis extracts.

Its state-of-the-art facility is one of the most innovative and technically advanced in the cannabis industry.

First supply under the deal is set to commence in the coming months.

READ: AusCann Group on track to produce cannabinoid medicines this year

AusCann’s interim CEO Dr Paul MacLeman said: “Reliable supply of pharma-grade cannabinoid extracts through MediPharm’s proprietary methodologies will support AusCann’s ability to develop and deliver quality cannabinoid medicines.

"Critical for the company are repeatability in manufacturing, reliable dosing, and purity assurance.

“These product foundations will allow delivery of effective, trusted and safe medicines for the treatment of chronic pain.”

Plans for multiple suppliers to lower risk

AusCann is working towards securing a small number of validated, safe and reliable sources of cannabis resins as ongoing inputs into its pharmaceutical product development, clinical trials and product sales activities.

This multi-supplier strategy mitigates and reduces supply risks and enables AusCann to work efficiently with specialists in different types of extracts across a number of jurisdictions.

It also supports AusCann’s focus upon novel dose form development to optimise patient outcomes and create valuable pharmaceutical products for the Australian and export markets.

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Thu, 21 Feb 2019 12:32:00 -0500 https://www.proactiveinvestors.com/companies/news/215001/auscann-group-secures-supplier-of-cannabis-resin-for-upcoming-manufacturing-215001.html
<![CDATA[News - AusCann Group on track to produce cannabinoid medicines this year ]]> https://www.proactiveinvestors.com/companies/news/214302/auscann-group-on-track-to-produce-cannabinoid-medicines-this-year-214302.html AusCann Group Holdings Ltd (ASX:AC8) (OTCQX:ACNNF) aims to produce high-quality, economical, and clinically-validated cannabinoid medicines.

It has a vertically integrated strategy beginning with cultivation and production, through to manufacture and distribution of products.

This is made possible through a number of partnerships with industry leaders such as Canopy Growth Corp and Fundacion Daya.

The company is initially targeting medications for neuropathic and chronic pain in Australia and internationally, a market estimated to be worth $9 billion in Australia alone.

Focused on development, production and sale

AusCann is an Australian pharmaceutical company focused on the development, production and sale of cannabinoid pharmaceuticals within Australia and internationally.

This means cultivation and extraction, formulation and production, and pharmaceutical distribution and sales.

Licences are in place to enable the cultivation of cannabis and the manufacture of internationally recognised GMP quality cannabinoid pharmaceuticals.


READ: AusCann Group appoints PCI Pharma to manufacture first product line

AusCann’s interim CEO Dr Paul MacLeman said in the December quarterly: “AusCann has made important progress this quarter towards the manufacture and launch of our solid dose form capsules.

“Our pharmaceutical development and manufacturing capabilities are a key point of difference and our partner PCI Pharma is renowned for its high standards of safety and quality.”

The proprietary solid hard shell capsules for the treatment of chronic pain are scheduled for release in 2019.

The capsules will initially target a market that is estimated to be 1.9 million Australians who suffer chronic neuropathic pain.

READ: AusCann Group DayaCann joint venture to commence crop cultivation with Khiron

In January 2019, AusCann through its DayaCann joint venture with Khiron Life Sciences Corp (CVE:KHRN) revealed it was to set to commence its first third-party cannabis cultivation activity.

Khiron is a third party working with the joint venture, Khiron’s core operations are in Colombia.

MacLeman added: “We’ve also made advancements in the Latin American market with our DayaCann joint venture securing an MoU with Khiron Life Sciences that has resulted in the commencement of DayaCann’s first cultivation activities with Khiron.

“We see the South American market as internationally significant following legislative changes in a number of countries which have legalised medicinal cannabis for therapeutic purposes.”

Initial focus on chronic pain market

Auscann has identified Australia’s nerve pain market as a key early opportunity for penetration.

Prescription opioids are a key current treatment for neuropathic pain and given the addictive nature and side-effects of opioids, an opportunity exists for alternative treatments.

According to a TGA publication ‘patients who used medicinal cannabis for non-MS related neuropathic pain were more likely to experience a 50% reduction in pain and a reduction in pain scores compared with patients taking a placebo.’

MacLeman added: “There are extensive unmet medical needs in this market and our aim is to provide patients with affordable and safe medical cannabis products for the relief of chronic pain.

“2019 will be a key year for AusCann as we launch our solid hard shell capsules, establish an R&D facility in Western Australia and progress to commercialisation.”

Auscann spoke to Proactive in September 2018 at the ASX Small and Mid-Cap Conference in Sydney.

READ: AusCann Group acquires R&D facility to develop cannabinoid product pipeline

In January 2019. AusCann acquired a 7,300 square metre research and development (R&D) facility in Perth, Western Australia.

The facility will focus on AusCann’s cannabinoid pharmaceutical product pipeline, supporting the development of innovative formulations and dose forms.

Strong balance sheet with $41 million cash

AusCann is well funded into 2019 having entered the year with $41.7 million in cash and cash equivalents on its balance sheet.

This provides the company with financial flexibility highlighted by the 7,300-square-metre Perth facility recently purchased which cost $5.25 million that was funded from the company’s cash position.

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Mon, 11 Feb 2019 07:51:00 -0500 https://www.proactiveinvestors.com/companies/news/214302/auscann-group-on-track-to-produce-cannabinoid-medicines-this-year-214302.html
<![CDATA[News - AusCann Group’s chief operating and financial officer appointed joint company secretary ]]> https://www.proactiveinvestors.com/companies/news/213769/auscann-groups-chief-operating-and-financial-officer-appointed-joint-company-secretary-213769.html AusCann Group Holdings Ltd (ASX:AC8) has appointed chief operating and financial officer Quentin Megson has been appointed joint company secretary.

He will serve jointly in the role with Susan Hunter, AusCann’s existing company secretary.

Megson joined the medical cannabis company in October 2018 and is an experienced senior executive.

Financial experience

The new joint company secretary has worked in both finance and operational roles for more than 25 years and has held non-executive directorships with several companies.

He holds a Bachelor of Commerce from The University of Western Australia and is a Member of the Institute of Chartered Accountants Australia and New Zealand.

READ: AusCann Group DayaCann joint venture to commence crop cultivation with Khiron

AusCann is an Australian-based pharmaceutical company that aims to produce high-quality, economical and clinically validated cannabinoid medicines.

The company brings together leading expertise and operations across all aspects of the medical cannabis value chain.

This begins with cultivation and production and extends through to manufacture and distribution of products.

READ: AusCann Group acquires R&D facility to develop cannabinoid product pipeline

Last month AusCann acquired a 7,300 square metre research and development (R&D) facility in Perth, Western Australia.

The facility, which was purchased for $5.25 million, will focus on AusCann’s cannabinoid pharmaceutical product pipeline, supporting development of innovative formulations and dose forms.

AusCann will invest up to $6 million over time to customise and fit out the site for use during 2019.

The acquisition and upgrade costs will be funded from AusCann’s cash balance which was more than $40 million prior to the acquisition.

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Fri, 01 Feb 2019 12:19:00 -0500 https://www.proactiveinvestors.com/companies/news/213769/auscann-groups-chief-operating-and-financial-officer-appointed-joint-company-secretary-213769.html
<![CDATA[News - AusCann Group acquires R&D facility to develop cannabinoid product pipeline ]]> https://www.proactiveinvestors.com/companies/news/213300/auscann-group-acquires-rd-facility-to-develop-cannabinoid-product-pipeline-213300.html AusCann Group Holdings Ltd (ASX:AC8) has acquired a 7,300 square metre research and development (R&D) facility in Perth, Western Australia.

The facility will focus on AusCann’s cannabinoid pharmaceutical product pipeline, supporting development of innovative formulations and dose forms.

READ: AusCann Group DayaCann joint venture to commence crop cultivation with Khiron

AusCann executive director & interim CEO Paul MacLeman said the acquisition of the R&D site was a major stepping stone for the company.

He said: “It allows the creation of a fully-integrated, state-of-the-art facility for medicinal cannabis.”

The facility was purchased for $5.25 million and AusCann will invest up to $6 million over time to customise and fit out the site for use during 2019.

The acquisition and upgrade costs will be funded from AusCann’s cash balance which was more than $40 million prior to the acquisition.

READ: AusCann Group shortlists candidates for chief executive officer role

MacLeman added: “AusCann’s key point of difference compared to other cannabis producers is our commitment to a rigorous pharmaceutical development program.

“[This] will now be strengthened through the establishment of our own facility to support further R&D towards bringing new products to market.

“2019 will be a major year for AusCann with the planned launch of our hard-shell cannabinoid capsules which addresses the need for stability and consistency of dose.

“Our partner PCI Pharma is manufacturing the first product line as we aim to commence the production of our capsules towards the middle of this year.”

READ: AusCann Group appoints PCI Pharma to manufacture first product line

The cannabinoid capsules are expected to be released this year and are for the treatment of chronic pain.

They will initially target a market that is estimated to be 1.9 million Australians who suffer chronic neuropathic pain.

Sufferers can access the treatment through the Therapeutic Goods Administration’s (TGA) special access scheme.

Around 3.2 million Australians suffer chronic pain and existing treatments are lacking in efficacy and have notable side effects.

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Thu, 24 Jan 2019 19:49:00 -0500 https://www.proactiveinvestors.com/companies/news/213300/auscann-group-acquires-rd-facility-to-develop-cannabinoid-product-pipeline-213300.html
<![CDATA[News - AusCann Group DayaCann joint venture to commence crop cultivation with Khiron ]]> https://www.proactiveinvestors.com/companies/news/213007/auscann-group-dayacann-joint-venture-to-commence-crop-cultivation-with-khiron-213007.html AusCann Group Holdings Ltd (ASX:AC8) through its DayaCann joint venture with Khiron Life Sciences Corp (CVE:KHRN) is to commence its first third party cannabis cultivation activity.

Khiron is a third party working with the joint venture, Khiron’s core operations are in Colombia.

AusCann announced an MoU between DayaCann and Khiron on 1 October 2018 to collaborate on the development of medicinal cannabis products and market in Chile.

This includes cultivation, manufacturing, scientific and commercial activities that support cannabinoid medicines as a valued medicinal option.

Khiron to pay DayaCann US$1.2 million

Under the terms of the agreement, DayaCann will provide cultivation and potentially manufacturing services to Khiron.

DayaCann is now preparing for the cultivation of cannabis plant material to be used for patients and clinical trials, resulting in staged payments by Khiron to DayaCann of US1.2 million.

READ: AusCann Group shortlists candidates for chief executive officer role

AusCann’s executive director and interim CEO Dr Paul MacLeman said: “We are extremely pleased to see the MoU with Khiron progress towards the commencement of cultivation activity on the ground for the 2019-2020 season.

“This will result in supply of quality medicinal cannabis material to Khiron, allowing them to help Chilean patients.

“This is the first step in our collaboration, and we look forward to continuing to work together to address unmet medical needs in the Latin American market.”

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Tue, 22 Jan 2019 10:36:00 -0500 https://www.proactiveinvestors.com/companies/news/213007/auscann-group-dayacann-joint-venture-to-commence-crop-cultivation-with-khiron-213007.html
<![CDATA[News - AusCann Group shortlists candidates for chief executive officer role ]]> https://www.proactiveinvestors.com/companies/news/211281/auscann-group-shortlists-candidates-for-chief-executive-officer-role-211281.html AusCann Group Holdings Ltd’s (ASX:AC8) search for a new chief executive officer is progressing to plan and is now at an advanced stage.

The board has selected a final shortlist and is confident in the high calibre of Australian and international candidates that it believes have the necessary skills and experience to guide AusCann through its next phase of growth as a pharmaceutical manufacturing and sales business.

AusCann is expected to make an appointment once final interviews have been completed early in the new year.

Executive director Dr Paul MacLeman will act as interim CEO from January 1, 2019 until a full-time appointment is made by the board.

READ: AusCann Group appoints Paul MacLeman as executive director

Dr MacLeman is an experienced pharmaceutical executive and has been a senior consultant to AusCann since October 2017. He is leading the board’s executive CEO search process.

AusCann managing director Elaine Darby said: “The CEO search process is progressing very well and is now nearing completion.

“The transition is a natural evolution that reflects the continued growth and development of AusCann, and the board has worked to ensure it is a well planned and orderly one.

READ: AusCann Group appoints PCI Pharma to manufacture first product line

“I am extremely proud of what we have achieved at AusCann since the inception of the company in 2014 and listing in early 2017, including our licensing, cultivation, and product development activities which have culminated into our hard shell capsules soon to be commercialised.

“I am confident AusCann will go from strength to strength as it moves into a manufacturing and marketing footing for our first-generation product range.

“We see innovation and continued new product development as key to the next stages of the company’s development.”

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Mon, 17 Dec 2018 13:12:00 -0500 https://www.proactiveinvestors.com/companies/news/211281/auscann-group-shortlists-candidates-for-chief-executive-officer-role-211281.html
<![CDATA[News - AusCann Group appoints PCI Pharma to manufacture first product line ]]> https://www.proactiveinvestors.com/companies/news/209051/auscann-group-appoints-pci-pharma-to-manufacture-first-product-line-209051.html AusCann Group Holdings Ltd (ASX:AC8) has achieved another milestone after appointing TGA-licensed PCI Pharma to manufacture and release its first medicinal cannabis product line.

The proprietary solid hard shell capsules for the treatment of chronic pain are scheduled for release in the first half of 2019.

The capsules will initially target a market that is estimated to be 1.9 million Australians who suffer chronic neuropathic pain.

Sufferers can access the treatment through the TGA’s special access scheme (SAS).

READ: AusCann Group releases education resources for medical cannabis awareness

AusCann’s managing director Elaine Darby said: “AusCann elected to work with PCI Pharma due to their significant experience in providing manufacturing services of solid dose potent products to high standards of safety and quality.

“This allows AusCann to bring its first hard shell capsules into the chronic pain market as quickly as possible, while continuing to focus on the development of our second generation cannabinoid pharmaceutical products.”

Western Australia site proposed in early 2019

The manufacturing work by PCI Pharma complements AusCann’s research and development site it proposes to establish in Western Australia in early 2019.

The site will be focused on the development of AusCann’s cannabinoid pharmaceutical product pipeline.

It will encompass cultivation, extraction, new product development and manufacturing activities.

3.2 million Australians suffer chronic pain

Around 3.2 million Australians suffer chronic pain and existing treatments are lacking in efficacy and have notable side effects.

The main reason for the use of medicinal cannabis global is for the treatment of chronic pain.

Notably, it is also an area where there is clinical data supporting its use.

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Tue, 13 Nov 2018 12:28:00 -0500 https://www.proactiveinvestors.com/companies/news/209051/auscann-group-appoints-pci-pharma-to-manufacture-first-product-line-209051.html
<![CDATA[Media files - Auscann targeting pain management with Australian cannabinoid products ]]> https://www.proactiveinvestors.com/companies/stocktube/10365/auscann-targeting-pain-management-with-australian-cannabinoid-products-10365.html Wed, 05 Sep 2018 23:55:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10365/auscann-targeting-pain-management-with-australian-cannabinoid-products-10365.html <![CDATA[News - Auscann Group Holdings welcomes Canadian company to register ]]> https://www.proactiveinvestors.com/companies/news/173163/auscann-group-holdings-welcomes-canadian-company-to-register-173163.html Auscann Group Holdings (ASX:AC8) has welcomed Canada-based, world leading diversified cannabis company, Canopy Growth Corporation as a substantial shareholder.

Canopy Growth Corporation holds 23 million shares or 10.6% of the company and is the largest legal producer of medicinal cannabis in North America.

Auscann commenced trading on the ASX earlier this month after completing a successful reverse takeover of TW Holdings.

The company raised the maximum $5 million under its prospectus offering by issuing 25 million shares priced at $0.20.

AusCann has a focus on medical cannabis and is well positioned to take advantage of the developing market by bringing together a strong team with relevant and complementary skill sets.

The team also includes Chilean medicinal cannabis grower Fundación Daya.

AusCann has joined the Canopy family of companies and partners that includes Tweed (the most recognised cannabis production brand in the world), Bedrocan, DNA Genetics, Cann Science, Indoor Harvest and Mettrum Health Corp (following its recently announced CAD$430 million acquisition by Canopy).


Use of funds

Given the maximum of $5 million was raised in the prospectus offering, this provides Auscann with total cash of $8.3 million.

Funds are to be allocated as follows:

- Horticulture research and development: $1.8 million
- Chilean joint venture: $1.35 million
- Analytical testing: $0.33 million
- Clinical trials: $2.77 million
- Medical education: $0.33 million
- Licence applications and fees: $0.21 million
- Termination fee: $0.2 million
- Working capital and offer costs: $1.3 million


Background

AusCann believes that patients have the right to high quality, economical and clinically validated cannabis medicines.

AusCann has the ability to deliver these medicines by:

- Having access to expertise and relevant intellectual property in respect of:
- Plant genetics and breeding;
- Cultivation and production techniques;
- Manufacturing techniques;
- Cannabis medicines that are currently being prescribed for patients for a range of conditions internationally;
- Undertaking clinical studies in Australia;
- Having the expertise to operate under Australia’s cultivation and manufacturing requirements; and
- Being able to supply full spectrum plant extracts.

The company’s business model is based upon developing production of medicinal cannabis and partnering with leading researchers.

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Wed, 15 Feb 2017 12:00:00 -0500 https://www.proactiveinvestors.com/companies/news/173163/auscann-group-holdings-welcomes-canadian-company-to-register-173163.html
<![CDATA[News - TW Holdings Ltd: AusCann strengthens its board of directors ]]> https://www.proactiveinvestors.com/companies/news/146737/tw-holdings-ltd-auscann-strengthens-its-board-of-directors-68984.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover over of AusCann Group Holdings Ltd for 100% of the issued capital.

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

AusCann has strengthened its board with the appointment of Bruce Linton and Bruce McHarrie as non-executive directors. Mick Palmer AO will be stepping down for personal reasons.

Linton is the founder, chairman and CEO of Canopy Growth Corporation, which is the world’s biggest producer of legal cannabis.

AusCann recently entered into a strategic partnership with AusCann.

McHarrie is an experienced senior executive with a background in the life sciences industry focussed on finance, operations, business and investment management and strategic planning.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 02 Jun 2016 08:00:00 -0400 https://www.proactiveinvestors.com/companies/news/146737/tw-holdings-ltd-auscann-strengthens-its-board-of-directors-68984.html
<![CDATA[News - TW Holdings Ltd: AusCann and Murdoch University in research alliance ]]> https://www.proactiveinvestors.com/companies/news/146736/tw-holdings-ltd-auscann-and-murdoch-university-in-research-alliance-68787.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover over of AusCann Group Holdings Ltd for 100% of the issued capital.

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

Earlier in the month the company sealed a strategic partnership with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

AusCann continues to build its strategic relationships, and has now entered a five year research alliance with the Murdoch University.

The alliance is intended to lead to the development of projects in the field of medicinal cannabis.

Elaine Darby, chief executive for AusCann, commented: “We are particularly proud to have Murdoch University as a partner, given their research into plant breeding is truly world renowned."

There have been recent changes to the Narcotics Drug Act, which have provided a pathway to permit cannabis for medicinal product manufacture, to be grown in Australia.

Under the current agreement Murdoch University will not receive any profits from the outcome of the research activities.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 24 May 2016 13:00:00 -0400 https://www.proactiveinvestors.com/companies/news/146736/tw-holdings-ltd-auscann-and-murdoch-university-in-research-alliance-68787.html
<![CDATA[News - TW Holdings Ltd receives positive re-rating on medical cannabis transition ]]> https://www.proactiveinvestors.com/companies/news/146735/tw-holdings-ltd-receives-positive-re-rating-on-medical-cannabis-transition-68643.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover of Australian medical cannabis company AusCann Group Holdings Limited, and shares in the company have received a positive re-rating recently.

Shares in TWH last traded at $0.014, up from $0.01 at the start of May, and more than double where the company was trading a month ago.

AusCann recently entered an agreement with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

Canopy was the first publicly traded federally regulated cannabis producer in North America and remains the largest and most diversified.

It is listed on the TSX Venture Exchange and has a market capitalisation over A$250 million.

AusCann will issue shares equal to 15% of AusCann to Canopy in exchange for access to Canopy’s large range of expertise and intellectual property in cultivation, manufacturing and supply of high quality medicinal cannabis.


About AusCann

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

These collaborations include partnerships with European breeding companies, leading universities in Australia, clinical stage biotech companies and US-based groups dealing direct with patients and with a deep understanding of treatment regimes including dosing and protocols.

The current TWH Board will resign, and Dr Mal Washer will be appointed as a non-executive chairman, a medical doctor and former Federal Member of Parliament.

Elaine Darby will be appointed managing director, who has a science/law background and extensive experience with clinical trials and regulatory environments.

Harry Karelis will be appointed as an executive director, who has a science/finance background with extensive capital markets experience particularly in start-ups.

Other board members include Mick Palmer, a former Head of the Australian Federal Police and the Hon Cheryl Edwardes, the former Attorney General and Environment Minister in Western Australia.

The company will change its name to AusCann Group Holdings Limited.

It is expected that TWH will convene a meeting to facilitate shareholder approval in late May 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 17 May 2016 10:30:00 -0400 https://www.proactiveinvestors.com/companies/news/146735/tw-holdings-ltd-receives-positive-re-rating-on-medical-cannabis-transition-68643.html
<![CDATA[News - TW Holdings Ltd: AusCann appoints Hon Cheryl Edwardes to the board ]]> https://www.proactiveinvestors.com/companies/news/146734/tw-holdings-ltd-auscann-appoints-hon-cheryl-edwardes-to-the-board-68554.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover by AusCann Group Holdings Limited.

AusCann has now appointed the former WA Attorney General, the Hon Cheryl Edwardes, to its board.

Elaine Darby, managing director for AusCann, said she was looking forward to Ms Edwardes’ contribution to the board at a time of rapid growth for the company.

“Cheryl is a proven leader and is tremendously knowledgeable across a wide range of areas of public policy and her input will be vital as we progress to becoming an ASX listed company."


AusCann sign medical cannabis deal with Canopy Growth Corp.

AusCann recently sealed a strategic partnership with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

AusCann will issue shares equal to 15% of AusCann to Canopy in exchange for access to Canopy’s large range of expertise and intellectual property in cultivation, manufacturing and supply of high quality medicinal cannabis.

Canopy was the first publicly traded federally regulated cannabis producer in North America and remains the largest and most diversified. It is listed on the TSX Venture Exchange and has a market capitalisation over A$250 million.

Canopy’s core brands are Tweed, the world’s most recognised cannabis brand, and Bedrocan Canada, which produces and sells genetically standardised cannabis varieties.

Canopy operates two indoor production facilities and a large greenhouse with a combined size of more than 46,400 square metres of production capacity, making it the largest legal cannabis producer in the world.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 11 May 2016 15:00:00 -0400 https://www.proactiveinvestors.com/companies/news/146734/tw-holdings-ltd-auscann-appoints-hon-cheryl-edwardes-to-the-board-68554.html
<![CDATA[News - TW Holdings, AusCann sign medical cannabis deal with Canopy Growth Corp. ]]> https://www.proactiveinvestors.com/companies/news/146733/tw-holdings-auscann-sign-medical-cannabis-deal-with-canopy-growth-corp-68487.html TW Holdings Ltd (ASX:TWH), which is in the process of a reverse takeover by AusCann Group Holdings Limited has sealed a strategic partnership with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

AusCann will issue shares equal to 15% of AusCann to Canopy in exchange for access to Canopy’s large range of expertise and intellectual property in cultivation, manufacturing and supply of high quality medicinal cannabis.

A binding agreement has also been finalised by TWH and Australian medical cannabis company AusCann Group for the reverse takeover of TWH following the heads of agreement signed in March 2016.

Executive chairman of Canopy Group, Bruce Linton will join the new AusCann board of directors alongside a strong leadership team that combines experts from public health, policy makers, and medically focused entrepreneurs.

Canopy was the first publicly traded federally regulated cannabis producer in North America and remains the largest and most diversified. It is listed on the TSX Venture Exchange and has a market capitalisation over A$250 million.

Canopy’s core brands are Tweed, the world’s most recognised cannabis brand, and Bedrocan Canada, which produces and sells genetically standardised cannabis varieties.

Canopy operates two indoor production facilities and a large greenhouse with a combined size of more than 46,400 square metres of production capacity, making it the largest legal cannabis producer in the world.


Canopy Transaction overview

A total of 459,300,000 TWH shares will be issued to Canopy, equal to 12.03% of the company, pre-consolidation.

Canopy's shares in TWH (AusCann) will remain in a voluntary three year lock up/escrow. Canopy will be granted a three year option to acquire a further 5% stake in AusCann.

The new shares to be issued to Canopy will be included within the consideration already allocated to AusCann shareholders.

The deal is conditional on completion of due diligence investigations by the parties.

The company will need to re-comply with Chapters 1 and 2 of the ASX Listing Rules, consolidation, capital raising and shareholders approvals.


Additional shares to be issued by TWH

- 1,668,192,121 shares in TWH will be issued to AusCann, equal to 43.7% of the pre consolidation capital. An additional 321,000,000 performance shares are able to be issued to AusCann, based on agreed milestones.

- 805,333,333 shares will be issued to AusCann convertible noteholders, equal to 21.1%.

- 129,174,545 shares will be issued to AusCann transaction facilitators, equal to 3.4%.

- 153,100,000 will be issued to TWH transaction facilitators, equal to 4.0%.

- Current shares on issue are 15.8%.


Other key transaction details

TWH will undertake a capital raising to raise at least $2.5 million.

TWH will undertake a consolidation of its issued share capital on the basis of one new share for every 20 existing shares on issue.

TWH will a meeting of TWH shareholders to obtain all approvals that are required to give effect to the transactions contemplated.

AusCann managing director, Elaine Darby, commented: the Canopy agreement will cement AusCann’s leadership position in Australia’s rapidly developing medicinal cannabis market.

“We are exceptionally happy with this alliance with Canopy Growth Corporation, which has been a global pioneer in the development of medicinal cannabis.

“Our aim is to establish the Australian medical community’s trust in these products and to produce high quality, dependable, economical and clinically validated medicines and this partnership is a massive step toward achieving that aim.’’

While Bruce Linton, Chairman & CEO of Canopy Growth, added: “I’m very pleased to enter into this new international relationship, the first of its kind for a Canadian cannabis company.

“As the Australian government begins to lay out a framework for legal medical cannabis, AusCann has the same opportunities and challenges that Tweed and its sister companies faced several years ago.

"We have confidence that the Australian medical cannabis market will grow similarly to Canada and we think the lessons we learned in our early days will prove invaluable to the team at AusCann.”

TWH chairman, Mr David Wheeler, said the agreement was confirmation that the decision to purchase AusCann was a good one for TWH shareholders.

“We are very excited about the future for the medicinal cannabis market in Australia and once again it has been shown that AusCann is a best of breed company with a strong board and management team and significant international connections."


About AusCann

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

These collaborations include partnerships with European breeding companies, leading universities in Australia, clinical stage biotech companies and US-based groups dealing direct with patients and with a deep understanding of treatment regimes including dosing and protocols.

The current TWH Board will resign, and Dr Mal Washer will be appointed as a non-executive chairman, a medical doctor and former Federal Member of Parliament.

Elaine Darby will be appointed managing director, who has a science/law background and extensive experience with clinical trials and regulatory environments.

Harry Karelis will be appointed as an executive director, who has a science/finance background with extensive capital markets experience particularly in start-ups.

Other board members include Mick Palmer, a former Head of the Australian Federal Police and the Hon Cheryl Edwardes, the former Attorney General and Environment Minister in Western Australia.

The company will change its name to AusCann Group Holdings Limited.

It is expected that TWH will convene a meeting to facilitate shareholder approval in late May 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 09 May 2016 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/146733/tw-holdings-auscann-sign-medical-cannabis-deal-with-canopy-growth-corp-68487.html
<![CDATA[News - TW Holdings Ltd to reveal material acquisition ]]> https://www.proactiveinvestors.com/companies/news/146732/tw-holdings-ltd-to-reveal-material-acquisition-67455.html TW Holdings Ltd (ASX:TWH) has some interesting news flow expected early next week, in regards to entering into a term sheet for a material acquisition.

The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Tuesday 15th March 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 11 Mar 2016 11:00:00 -0500 https://www.proactiveinvestors.com/companies/news/146732/tw-holdings-ltd-to-reveal-material-acquisition-67455.html
<![CDATA[News - TW Holdings to divulge acquisition terms for Van Hoogen oil project ]]> https://www.proactiveinvestors.com/companies/news/146731/tw-holdings-to-divulge-acquisition-terms-for-van-hoogen-oil-project-50586.html TW Holdings (ASX: TWH) is preparing details in regards to the terms of the acquisition of the Van Hoogen oil project, which is an unconventional tight oil project located in the Cline Shale Tight Oil Play in the Permian Basin, Texas.

The ASX has granted TW Holdings a trading halt, with its shares placed in pre-open.

TWH Holdings has contracted to purchase an 80% working interest in 4,647 gross acres of oil and gas leases located within the Cline Shale Tight Oil Play in the Permian Basin where 400 drilling rigs are currently engaged.

Vendors include Peter Allchurch and Neville Henry, two highly experienced and successful oil men involved in the discovery of the Eagle Ford Shale in Texas.

TW Holdings is currently looking to raise $12 million.

The halt will remain in place until the opening of trade on Friday 29th November 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 27 Nov 2013 11:40:00 -0500 https://www.proactiveinvestors.com/companies/news/146731/tw-holdings-to-divulge-acquisition-terms-for-van-hoogen-oil-project-50586.html
<![CDATA[News - TW Holdings turns focus to oil with deal to acquire Texas oil project ]]> https://www.proactiveinvestors.com/companies/news/146730/tw-holdings-turns-focus-to-oil-with-deal-to-acquire-texas-oil-project-43859.html TW Holdings (ASX: TWH) has signed an agreement to acquire a 40% working interest in the 6,230 gross acre Van Hoogen Oil Project in the developing Cline Shale Oil play of central west Texas.

The acquisition includes the purchase of proprietary geological information, including well data, seismic, wireline logs and mud logs that pertain to three unconventional and two conventional oil plays.

Notably, the project is located just 4.8 kilometres from Devon Energy’s (NYSE:DVN) Harris M-1H well, which flowed 1,000 barrels of oil equivalent per day from the Three Fingers Black Shale horizon within the Cline Shale.

TWH will pay the vendor 30 million shares priced at A$0.20 each – post a 1 for 17 consolidation, 45 million unlisted TWH options exercisable at A$0.20 on or before 31 March 2018, 70,000 TWH performance shares and US$2 million cash subject to achievement of various performance milestones.

As part of the transaction, TWH will undergo a capital raising to raise up to $12 million as part of its transition into an oil company and change its name to Beretta Oil and Gas.

The Cline Shale Oil play is located on the eastern shelf of the Permian Basin in West Texas and has been identified as an emerging oil shale development region with excellent potential.

The Permian Basin was the source of some of the earliest oil and gas discoveries in the United States. It covers roughly 66,000 square miles and contains hundreds of oil and gas fields and is one of the most prolific oil areas in North America, having produced 35 billion barrels from multiple zones.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 May 2013 14:40:00 -0400 https://www.proactiveinvestors.com/companies/news/146730/tw-holdings-turns-focus-to-oil-with-deal-to-acquire-texas-oil-project-43859.html
<![CDATA[News - TW Holdings to reveal outcome of Philippines project negotiations ]]> https://www.proactiveinvestors.com/companies/news/146729/tw-holdings-to-reveal-outcome-of-philippines-project-negotiations-33503.html TW Holdings (ASX: TWH) has requested a trading halt today as it works to complete negotiations with a third party to begin due diligence on a proposed project in the Philippines.

The company, which was formerly known as CRW Holdings, has previously revealed that concurrent with actions in relation to its core activities, TW Holdings continues to consider other potential areas of interest.

TW Holdings is currently an Australian holding company with a focus on investments in its wholly owned subsidiary Cockatoo Ridge Wines Ltd, a wine producer.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Wednesday 19 September.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 17 Sep 2012 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/146729/tw-holdings-to-reveal-outcome-of-philippines-project-negotiations-33503.html