Proactiveinvestors USA & Canada Chemistree Technology Inc. https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Chemistree Technology Inc. RSS feed en Sun, 16 Jun 2019 21:47:06 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - New Jersey's expansion of medical marijuana program an opportunity for Chemistree's partner ACS ]]> https://www.proactiveinvestors.com/companies/news/221802/new-jersey-s-expansion-of-medical-marijuana-program-an-opportunity-for-chemistree-s-partner-acs-221802.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF) announced Monday that its partner Applied Cannabis Sciences of New Jersey is planning to submit applications for licenses under the state’s new marijuana plan.

Last Monday New Jersey announced a plan to offer up to 54 separate dispensary licenses, 30 processing permits and 24 cultivation licenses, including three tiers of grower permits. Applications will be available July 1.

Applied Cannabis Sciences (ACS) will apply for cultivation, manufacturing and dispensary licenses in a bid to create a vertically integrated model for its business, Chemistree said in a statement.

READ: Chemistree expands CBD portfolio with strategic investment into physician-led cannabis company

Vancouver-based Chemistree partnered with ACS in April 2019 to assist the New Jersey company’s qualification process as a potential applicant. For Chemistree, the partnership with ACS provides the cannabis investment company with an eastern US presence in a state home to over nine million people.

"When we entered discussions to participate with ACS, we were particularly impressed by the team of industry experts they had assembled, and their deep local knowledge of the dynamic, developing New Jersey market for medical cannabis,” said Karl Kottmeier, Chemistree’s president.

“The fact that the state authorities have recognized the need to expand the total number of licenses and speed-up their licensing process is certain to be welcome news to a large and under-served population and a huge opportunity for ACS."   

Recreational next?

Under current state law, only medical marijuana is legal in New Jersey. Headwinds coming from the Garden State, however, seem to indicate that full legalization of recreational cannabis is not far behind. A voter referendum on adult use legislation is expected in 2020, and Governor Phil Murphy has been outspoken in his support for recreational cannabis use.

During last summer’s request for applications, where six licences were on offer, ACS placed in the top-20 applicants. As a result, Chemistree plans to make an early investment into ACS, acquiring 10% of the business with an option for a larger stake once it has obtained the licences.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 10 Jun 2019 09:34:00 -0400 https://www.proactiveinvestors.com/companies/news/221802/new-jersey-s-expansion-of-medical-marijuana-program-an-opportunity-for-chemistree-s-partner-acs-221802.html
<![CDATA[News - Chemistree expands CBD portfolio with strategic investment into physician-led cannabis company ]]> https://www.proactiveinvestors.com/companies/news/219275/chemistree-expands-cbd-portfolio-with-strategic-investment-into-physician-led-cannabis-company-219275.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF) has entered into a funding agreement with hemp pain management company The Physician’s Choice CBD LLC, giving the company exposure to the medicinal cannabidiol (CBD) market.

Based in Arizona, The Physician’s Choice CBD is a medical doctor-led company with a portfolio of nine hemp-derived CBD products that target pain management and wellness supplements. The company’s principals, Dr Julian Grove and Dr Peter Kubitz are board-certified practicing physicians, with training at Harvard and the Mayo Clinic, specializing in pain management.

The financial terms of the deal were not available at the time of writing.

READ: Chemistree Technology updates on Washington state and California; Desert Hot Springs slated for completion in 1Q, 2020

"This investment in The Physician's Choice CBD is a great opportunity for Chemistree,” said Karl Kottmeier, Chemistree’s president, in a statement. “Their collective education and practical experience are industry-leading and their commitment to the health of their patients and to developing real solutions to pain management with cannabidiol-based supplements is truly inspiring.”

The investment gives Chemistree exposure to an entirely new industry, said Kottmeier. “We are excited to assist wherever we can to see PCCBD continue to grow its sales and product offerings into a multi-state success.”

Vancouver-based Chemistree is an investment company that makes strategic investments into the US cannabis sector.

Last month, the firm closed a previously announced offering and concurrent private placement for a total of C$10.8 million, aiming to use the funds to expand its facilities in Washington State, as well as launch the Sugarleaf brand in California.

Shares of Chemistree jumped 3% at C$0.69 on Monday afternoon.

--Updates share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 29 Apr 2019 08:33:00 -0400 https://www.proactiveinvestors.com/companies/news/219275/chemistree-expands-cbd-portfolio-with-strategic-investment-into-physician-led-cannabis-company-219275.html
<![CDATA[News - Chemistree Technology updates on Washington state and California; Desert Hot Springs slated for completion in 1Q, 2020 ]]> https://www.proactiveinvestors.com/companies/news/218865/chemistree-technology-updates-on-washington-state-and-california-desert-hot-springs-slated-for-completion-in-1q-2020-218865.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF), the US-focused cannabis firm, updated on the development of its assets in Washington state and California.

Last month, the firm closed a previously announced offering and concurrent private placement for a total of C$10.8 million, aiming to use the funds to expand its facilities in Washington State, as well as launch the Sugarleaf brand in California.

READ: Chemistree Technology shares advance as it sets to partner with Applied Cannabis Sciences of New Jersey

On Thursday, Chemistree said it had received reports from its Washington state licensee partner on further progress, including the appointment of a new head cultivator, and the upgrading of 288 grow lights in flower and the sale of retrofitted lights for US$30,000, and is expected to improve crop yields by over 20%. There has also been a 20% increase in product units. New ones include Diamonds, Live Resin, RSO, and Crumble.

Chemistree is also actively advancing its 9.55 acre Desert Hot Springs land package.

"Our design team is currently in the process of finalizing plans for our two 64,000 square foot greenhouses and 40,000 square foot manufacturing and distribution facility for submission to the city of Desert Hot Springs. We expect city review to be completed by the third quarter of this year. The project continues to track on schedule with completion targeted for the first quarter of 2020," said newly appointed chief cannabis officer Sheldon Aberman.

He added that in Washington state, with Chemistree as landlord and turnkey equipment provider, the team continued to do "a tremendous job in restoring Sugarleaf to its previous place in the Washington market for flower and pre-rolled products as well as introducing new exciting products to the market".

"We are confident that this trajectory of success will continue and that Sugarleaf's loyal retail customers will continue to enjoy the high quality products and welcome the new offerings as they are rolled out."

Contact Giles at giles@proactiveinvestors.

Follow him on Twitter@Gile74 

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Thu, 18 Apr 2019 09:56:00 -0400 https://www.proactiveinvestors.com/companies/news/218865/chemistree-technology-updates-on-washington-state-and-california-desert-hot-springs-slated-for-completion-in-1q-2020-218865.html
<![CDATA[News - Chemistree Technology shares advance as it sets to partner with Applied Cannabis Sciences of New Jersey ]]> https://www.proactiveinvestors.com/companies/news/218613/chemistree-technology-shares-advance-as-it-sets-to-partner-with-applied-cannabis-sciences-of-new-jersey-218613.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF), the cannabis-focused investment group, saw shares advance on Monday as it announced a partnership to potentially expand its presence outside California and Washington state.

Its US subsidiary, American CHM Investments Inc, has signed a letter of intent (LOI) to partner with Applied Cannabis Sciences of New Jersey (ACS).

READ: Chemistree Technology names Sheldon Aberman its first chief cannabis officer

The latter is a medical retail dispensary applicant in the upcoming New Jersey round of applications, anticipated next year (2020).

Its application, if successful, will provide ACS with a cultivation, manufacturing/processing and retail sales license in the state of New Jersey, home to over 9 million people and where there are only 12 issued licenses.

"We are excited about partnering with ACS, a highly experienced group recognized in the medical and recreational cannabis space that bring a track record of innovation and success," said Karl Kottmeier, President of Chemistree.

"The potential to expand Chemistree's presence outside of California and Washington state and ultimately introduce our signature brand Sugarleaf to the large New Jersey consumer base by partnering with ACS is consistent with our growth strategy."

Logical place

He added: "New Jersey is a logical place for Chemistree to expand into and bring the Sugarleaf brand to the New Jersey market. I would like to specifically thank Nico Escondido, our newest board member for the introduction to this exciting opportunity and I am impressed with the significant impact he is already clearly having on our company."

ACS was established by a team of seasoned professionals from the legal medicinal and adult-use marijuana industry, whose collective experience exceeds 50 years and includes over 20 cultivation, processing, and manufacturing licenses across four states.

Recently appointed Chemistree board member Escondido is a founding member of the ACS team.

Chemistree shares added 6.8% to stand at $0.63 in Toronto.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Mon, 15 Apr 2019 10:36:00 -0400 https://www.proactiveinvestors.com/companies/news/218613/chemistree-technology-shares-advance-as-it-sets-to-partner-with-applied-cannabis-sciences-of-new-jersey-218613.html
<![CDATA[News - Chemistree Technology names Sheldon Aberman its first chief cannabis officer ]]> https://www.proactiveinvestors.com/companies/news/218437/chemistree-technology-names-sheldon-aberman-its-first-chief-cannabis-officer-218437.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS: CHMJF) tapped Sheldon Aberman as its first ever CCO. But at this Vancouver company, the second ‘C’ stands for cannabis, as in chief cannabis officer.

Aberman has been at the cannabis-centric investment company since its founding, and he joined its board in October 2018. He is considered an expert in cultivation with 17 years of experience in the industry. Currently he also serves as a consultant for Cannabis Grow and oversees Cannabis Consulting Co.

The stock grew 1.7% to $0.60 on the CSE and 1.1% to US$0.45 on OTC markets.

READ: Chemistree Technology adds cannabis exec Nicholas Zitelli to board

“Sheldon is a world-renowned leader in the cannabis sector,” President Karl Kottmeier said. “He has tremendous experience and an unrivalled contact list across the international cannabis community. With this appointment we are even better positioned to continue to build and optimize existing business and expand our operations across the United States and ultimately to international markets.”

Before Chemistree dubbed him its chief cannabis officer, Aberman designed the first licensed cultivation and processing facility in Michigan in 2016 with Cannabis Consulting. Before that, he managed Canadian Cannabis Corporation’s 312,000 square-foot cultivation center outside Toronto.

His journey began at Gotta Grow Wholesale, a plant nutrient seller, as a sales rep in 2003, where he went on to become director of US sales and increased revenue 800%.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Thu, 11 Apr 2019 10:39:00 -0400 https://www.proactiveinvestors.com/companies/news/218437/chemistree-technology-names-sheldon-aberman-its-first-chief-cannabis-officer-218437.html
<![CDATA[News - Chemistree Technology adds cannabis exec Nicholas Zitelli to board ]]> https://www.proactiveinvestors.com/companies/news/218245/chemistree-technology-adds-cannabis-exec-nicholas-zitelli-to-board-218245.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF) announced Tuesday that it has succeeded in recruiting a seasoned cannabis industry executive Nicholas Zitelli to its board of directors.

Zitelli is now the part-owner, director and chief cannabis officer of Trans High Corporation, the parent company of the 45-year-old High Times magazine. He’s also the founder and CEO of the Cannabis Genetics Institute, a research and development institute focused on the breeding of medicinal cannabis, set up in Amsterdam in 2014.

READ: Chemistree Technology ‘confident’ of being granted Desert Hot Springs permit for its new cannabis facility

Most recently, he was also named CEO of the newly-formed group Applied Cannabis Sciences LLC, which aims to acquire and operate medical marijuana licenses in the Eastern US and boasts projects in New Jersey, New York and Massachusetts. And he's also written hundreds of articles covering a range of topics in cannabis science under the pen name Nico Escondido.

“These are exciting times for the company and Mr. Zitelli will be a truly outstanding addition to our board of directors,” said Karl Kottmeier, in a statement. “His worldwide network through the professional cannabis community, in addition to his excellent reputation, will unquestionably be invaluable assets to our company’s continued growth.”

For his part, Zitelli says he is looking forward to joining Chemistree as it widens its reach.

“I appreciate the opportunity to support Chemistree through the Company's planned expansion, particularly in the US market, and help it to define the future of the cannabis industry,” he said in a statement.

Headquartered in Vancouver, Chemistree is an investment company focused on acquiring and developing cannabis assets in the US and Canada.

Chemistree shares slipped C$0.01 to trade at C$0.60 on Monday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

-- This story is updated to reflect latest share price movement -- 

 

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Tue, 09 Apr 2019 09:07:00 -0400 https://www.proactiveinvestors.com/companies/news/218245/chemistree-technology-adds-cannabis-exec-nicholas-zitelli-to-board-218245.html
<![CDATA[News - Chemistree granted conditional use permit for Desert Hot Springs land ]]> https://www.proactiveinvestors.com/companies/news/214889/chemistree-granted-conditional-use-permit-for-desert-hot-springs-land-214889.html Chemistree Technology Inc (CSE:CHM) (OTCQB:CHMJF) said Tuesday that its subsidiary CHM Desert LLC has won a conditional use permit from local authorities in Desert Hot Springs, California for its 9.55 acre property in the city’s cannabis cultivation-friendly zone.

The conditional use permit will give the green light for cultivation in Chemistree’s two greenhouse buildings in Desert Hot Springs as well as activities in an additional building set up for the processing, manufacturing and distribution of cannabis.

READ: Chemistree Technology ‘confident’ of being granted Desert Hot Springs permit for its new cannabis facility

Chemistree expects its Desert Hot Springs facility could produce about 50,000 pounds of dried-cannabis flower per year. Once fully licensed and constructed, it will have the capacity to process, manufacture and distribute a range of cannabis-related products.

“I am really proud of our California team for getting this conditional use permit from concept to award in less than seven months,” said Karl Kottmeier, Chemistree’s president in a statement. “The City of Desert Hot Springs has proven to be a terrific partner, and we look forward to commencing site works as soon as the permitting process allows.”

Headquartered in Vancouver, Chemistree is an investment company focusing on the US cannabis sector.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Tue, 19 Feb 2019 08:53:00 -0500 https://www.proactiveinvestors.com/companies/news/214889/chemistree-granted-conditional-use-permit-for-desert-hot-springs-land-214889.html
<![CDATA[News - Chemistree Technology unveils plans for debenture offering ]]> https://www.proactiveinvestors.com/companies/news/214000/chemistree-technology-unveils-plans-for-debenture-offering-214000.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS: CHMJF)  is set for an offering of convertible debenture units and has appointed broker Canaccord as the sole bookrunner.

In a short form prospectus, the firm said each debenture unit will consist of one 10% unsecured convertible debenture of the company worth $1,000 with interest payable semi-annually in arrears on June 30 and December 31 of each year, beginning June 30 this year.

WATCH: Chemistree Technology preparing to build greenhouse and production facility in Cali

The debentures will mature three years from the date of issue and the debenture units will also consist of 2,000 company share purchase warrants expiring 36 months after the date of issue.

Each debenture is convertible at $0.50 per share subject to certain adjustments, while each warrant allows the holder one share at an exercise price of $0.70 per share until the expiry date.

The debentures and the warrants comprising the debenture units will separate immediately upon the closing of the offering.

There is no minimum amount of funds that must be raised under the offering, the company noted.

Contact Giles at giles@proactiveinvestors.com

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Tue, 05 Feb 2019 08:19:00 -0500 https://www.proactiveinvestors.com/companies/news/214000/chemistree-technology-unveils-plans-for-debenture-offering-214000.html
<![CDATA[Media files - Chemistree Technology preparing to build greenhouse and production facility in Cali ]]> https://www.proactiveinvestors.com/companies/stocktube/11600/chemistree-technology-preparing-to-build-greenhouse-and-production-facility-in-cali-11600.html Wed, 12 Dec 2018 16:39:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11600/chemistree-technology-preparing-to-build-greenhouse-and-production-facility-in-cali-11600.html <![CDATA[News - Chemistree Technology ‘confident’ of being granted Desert Hot Springs permit for its new cannabis facility ]]> https://www.proactiveinvestors.com/companies/news/210969/chemistree-technology-confident-of-being-granted-desert-hot-springs-permit-for-its-new-cannabis-facility-210969.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS: CHMJF) shared a corporate update Monday saying it was “confident” its proposed permit for a planned cannabis cultivation, processing and distribution facility in Desert Hot Springs, California would be granted.

The Vancouver-based company had earlier submitted plans for two separate cultivation buildings totaling 127,960 square feet and a separate 119,960-square-foot building for warehousing and processing.

"Our submission to the City of Desert Hot Springs is advancing through the regulatory process and our most recent update from our contractor has provided us with the good news that due to a rework of our plans by the City Engineer, we have an unexpected savings of approximately $500,000 to the project budget,” said Chemistree Technology President Karl Kottmeier in a statement.

“We are confident that our submission will be successful and we are looking forward to working with the City of Desert Hot Springs going forward," he added.

READ: Chemistree seeks permits for Desert Hot Springs, California, cannabis cultivation and processing facility

Once it is constructed, the facility will have the capacity to produce nearly 50,000 pounds of cannabis flower per year.

Meanwhile, Chemistree has signed an agreement with Sugarleaf Farms to acquire the global brand and marketing rights to the Sugarleaf brand outside Washington State. It said in a press release that it’s working to establish the Sugarleaf brand in California. Late last month Chemistree said it was teaming up with a cannabis processor in Humboldt County, California, and plans to lend the company $450,000.

The market for cannabis products in California is expected to exceed $5.1 billion next year, according to Chemistree.

"This has been an exciting and busy year for Chemistree. I am gratified to see that our team's deep experience in the cannabis industry and the many friends, colleagues and contacts we have are continuing to provide opportunity after opportunity for us to consider,” said Chemistree Technology Chairman Justin Chorbajian.  

“We have always known that our key to success will be rooted in our people and our ability to attract industry-leading talent," he added.

 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Tue, 11 Dec 2018 07:57:00 -0500 https://www.proactiveinvestors.com/companies/news/210969/chemistree-technology-confident-of-being-granted-desert-hot-springs-permit-for-its-new-cannabis-facility-210969.html
<![CDATA[News - Chemistree Technology acquires global rights to Sugarleaf cannabis brand outside Washington State ]]> https://www.proactiveinvestors.com/companies/news/210704/chemistree-technology-acquires-global-rights-to-sugarleaf-cannabis-brand-outside-washington-state-210704.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS: CHMJF) said Thursday that it has signed an agreement with Sugarleaf Farms to acquire the global brand and marketing rights to the Sugarleaf brand outside Washington State.

Vancouver-based Chemistree said in a press release that it’s working to establish the Sugarleaf brand in California. Late last month Chemistree said it was teaming up with a cannabis processor in Humboldt County, California, and plans to lend the company US$450,000.

READ: Chemistree seeks permits for Desert Hot Springs, California, cannabis cultivation and processing facility

The market for cannabis products in California is expected to exceed US$5.1 billion next year, according to Chemistree.

“Working closely with our new processor partner in Humboldt, we will be able to develop and produce Sugarleaf manufactured products as well as flower products in the world's sixth-largest economy – the massive California market," Karl Kottmeier, Chemistree's president, said in a statement.

Shares of Chemistree slipped C$0.03 to C$0.48 in Thursday's Canadian trading.

Earlier last month, Chemistree said it had applied for permits for a planned cannabis cultivation, processing and distribution facility in Desert Hot Springs, California.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

 

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Thu, 06 Dec 2018 09:37:00 -0500 https://www.proactiveinvestors.com/companies/news/210704/chemistree-technology-acquires-global-rights-to-sugarleaf-cannabis-brand-outside-washington-state-210704.html
<![CDATA[News - Chemistree says cannabis licensee partner in Washington State has 18 Sugarleaf strains ]]> https://www.proactiveinvestors.com/companies/news/210497/chemistree-says-cannabis-licensee-partner-in-washington-state-has-18-sugarleaf-strains-210497.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF) said Tuesday that its Sugarleaf brand in Washington State has 18 different strains of high-quality cannabis being grown in rotation, including nine major strains and nine minor strains in smaller-batch production.

The Vancouver-based cannabis-investment company said in a press release that the brand will soon launch its own line of cannabis oil-based products to be dispensed in the Sugarleaf-branded Vapor Slide V2, a hybrid of a pen and a dab, which is a device that provides a more intense delivery of THC.

READ: Chemistree Technology says common shares now eligible for electronic clearing in the US

The launch is Sugarleaf’s first foray into the concentrates market. Chemistree said there are plans to expand the Sugarleaf brand into other products and devices by the end of the first quarter of 2019.

Shares of Chemistree traded at C$0.57 in Monday’s Canadian trading. They climbed US$0.04 to US$0.41 on the OTC Markets.

Last week, Joel Hradecky, host of the YouTube channel CustomGrow420, led a video walkthrough of the Sugarleaf operation with an examination of strains under cultivation and an interview with Chemistree Chairman Justin Chorbajian. In addition, Chemistree said its common shares are now eligible for electronic clearing and settlement through the Depository Trust Co in the United States.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

 

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Tue, 04 Dec 2018 09:11:00 -0500 https://www.proactiveinvestors.com/companies/news/210497/chemistree-says-cannabis-licensee-partner-in-washington-state-has-18-sugarleaf-strains-210497.html
<![CDATA[News - Chemistree seeks permits for Desert Hot Springs, California, cannabis cultivation and processing facility ]]> https://www.proactiveinvestors.com/companies/news/210237/chemistree-seeks-permits-for-desert-hot-springs-california-cannabis-cultivation-and-processing-facility-210237.html Chemistree Technology Inc (CNSX:CHM) (OTCQB:CHMJF) said Thursday it has applied for permits for a planned cannabis cultivation, processing and distribution facility in Desert Hot Springs, California.

The Vancouver-based company said in a press release that it has submitted plans that include two separate cultivation buildings totaling 127,960 square feet and a separate 119,960-square-foot building for warehousing and processing.

READ: Chemistree Technology says common shares now eligible for electronic clearing in the US

Once fully constructed, the facility will produce a potential 50,000 pounds of cannabis flower per year, according to Chemistree.

“We are grateful to the city of Desert Hot Springs and the numerous local first responders and service providers for their receptive attitude to our submission,” Karl Kottmeier, president of Chemistree, said in a statement. “We are looking forward to receipt of final approval so we can begin construction."

Shares of Chemistree were unchanged at C$0.44 in Thursday’s Canadian trading. On Wednesday, their OTC shares slipped US$0.01 to US$0.33.

Earlier this week, Chemistree said its common shares are now eligible for electronic clearing and settlement through the Depository Trust Co in the United States.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com


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Thu, 29 Nov 2018 09:42:00 -0500 https://www.proactiveinvestors.com/companies/news/210237/chemistree-seeks-permits-for-desert-hot-springs-california-cannabis-cultivation-and-processing-facility-210237.html
<![CDATA[News - Chemistree Technology says common shares now eligible for electronic clearing in the US ]]> https://www.proactiveinvestors.com/companies/news/210159/chemistree-technology-says-common-shares-now-eligible-for-electronic-clearing-in-the-us-210159.html Cannabis investment firm Chemistree Technology Inc (CNSX:CHM) said Wednesday that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Co in the United States.

DTC is a subsidiary of the Depository Trust & Clearing Corp., a US company that manages the electronic clearing and settlement of publicly traded companies. Chemistree said in a press release that it expects DTC eligibility to simplify the process of trading and enhance liquidity of its shares in the US.

READ: Chemistree Technology to lend US$450,000 to California cannabis processing partner

"The ability to have Chemistree shares electronically transferred between brokerages in the United States is significantly more convenient and reduces the costs incurred in trading shares," Karl Kottmeier, president of Chemistree, said in a statement. "With our shares now traded electronically, existing investors benefit from greater liquidity and execution speeds, while we've also opened the door to new investors who may have been previously restricted from our stock."

Shares of Chemistree slipped C$0.01 to C$0.43 in Wednesday’s Canadian trading.

Earlier this week, Chemistree said it is teaming up with a cannabis processor in Humboldt County, California, and plans to lend the company US$450,000



Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Wed, 28 Nov 2018 14:50:00 -0500 https://www.proactiveinvestors.com/companies/news/210159/chemistree-technology-says-common-shares-now-eligible-for-electronic-clearing-in-the-us-210159.html
<![CDATA[News - Chemistree Technology to lend US$450,000 to California cannabis processing partner ]]> https://www.proactiveinvestors.com/companies/news/210057/chemistree-technology-to-lend-us450000-to-california-cannabis-processing-partner-210057.html Cannabis investment firm Chemistree Technology Inc (CNSX:CHM) said Tuesday it is teaming up with a cannabis processor in Humboldt County, California, and plans to lend the company US$450,000.

Vancouver-based Chemistree said in a press release that it expects the processor to buy additional equipment and make tenant improvements to its facility. Chemistree and the California processor also plan to negotiate a line of credit for working capital.

READ: Chemistree Technologies targets burgeoning cannabis market as legalisation expands across North America

The processor holds a Type 6 (non-volatile solvent extraction) license from the state of California, according to Chemistree.

“Chemistree can provide capital and management depth to rapidly expand the processor's business, both in the local Humboldt area, across the state of California and, ultimately, into new jurisdictions across the United States where legal cannabis processing and product development is in formative stages.”

The processor uses Apeks supercritical carbon dioxide extraction to produce cannabis oil, terpene profiles and other products on behalf of cannabis cultivators, other manufacturers and processors throughout northern California, according to Chemistree.

Shares climbed C$0.02 to C$0.47 in Tuesday’s Canadian trading.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 27 Nov 2018 11:29:00 -0500 https://www.proactiveinvestors.com/companies/news/210057/chemistree-technology-to-lend-us450000-to-california-cannabis-processing-partner-210057.html
<![CDATA[News - Chemistree Technology to host High Times party in top cannabis conference in Las Vegas ]]> https://www.proactiveinvestors.com/companies/news/209227/chemistree-technology-to-host-high-times-party-in-top-cannabis-conference-in-las-vegas-209227.html Chemistree Technology Inc (CSE:CHM) (OTCQB:CHMJF) announced its sponsorship of the High Times party at the MJBizCon Conference and Expo, the premier marijuana business conference in North America.

The Biz Bash will be held Thursday, November 15, 2018, at the Brooklyn Bowl in Las Vegas.

Sponsorship of High Times and the recent launch of the new Sugarleaf website is part of an aggressive marketing and sale campaign to introduce Chemistree Technology to all cannabis retailers starting with over 3,300 retail dispensaries and cultivators, with the majority located in California, Colorado, Arizona and Nevada.

High Times has been the voice of cannabis culture for 40 years. Its content spans digital, social, video and print platforms as well as location-based events highlighted by the Cannabis Cup global franchise and the High Times Business Summit conference series.

Chemistree Technology is an investment company which operates in the cannabis sector in the United States and internationally. The company is based in Vancouver.

Contact Rene Pastor at rene.pastor@proactiveinvestors.com

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Wed, 14 Nov 2018 15:43:00 -0500 https://www.proactiveinvestors.com/companies/news/209227/chemistree-technology-to-host-high-times-party-in-top-cannabis-conference-in-las-vegas-209227.html
<![CDATA[News - Succeeding in California cannabis: four questions with Chemistree Technologies president Karl Kottmeier ]]> https://www.proactiveinvestors.com/companies/news/208062/succeeding-in-california-cannabis-four-questions-with-chemistree-technologies-president-karl-kottmeier-208062.html The market for cannabis stocks was white hot as Canada prepared to legalise consumption on October 17, and while there has been a bit of a pullback since that milestone day, belief in the long-term outlook for the sector remains strong.  But much bigger news for investors is still to come.  Most observers believe that at some point, cannabis will become federally legal in the US, and when that happens the related opportunities will dwarf those in Canada.

Proactive Investors sat down recently with Karl Kottmeier, president of Chemistree Technologies (CSE:CHM), to discuss the current landscape in California’s cannabis market and what it takes to succeed there in both the short and long terms.

Tell us how the Chemistree team came together and how that is reflected in your corporate culture

Chemistree came together as two distinct groups, one a business group led by Doug Ford, Kirk Gamley and I that had a public vehicle interested in a new orientation, and the other a Canada-US 100% cannabis-facing group led by Justin Chorbajian, Dennis Hunter and Sheldon Aberman.  We struck a deal with the specific objective of making cannabis the focus of operational and equity investments in the United States.

As far as corporate culture goes, we are like-minded in that everyone is committed to building a sustainable enterprise that creates value for shareholders.  Everybody is a paid-in shareholder in the public company and the spirit is best practices and a sensitivity toward the players in the business.  Dennis Hunter has been in the business for 30 years.  Our chairman, Justin, also has tremendous experience, and then there are our team’s legions of contacts up and down the Pacific Northwest and across the country.  We have also reached out to business opportunities in Australia, England, Germany, Greece and Italy as a function of the contact base the members of our team possess.

Financially, we are committed to the idea that we are going to limit dilution, we are going to spend money wisely – no one takes big salaries – and with the idea being to make sure growth is always number one in our corporate culture.

A lot of companies are entering the cannabis space and pursuing the California market.  What makes Chemistree different?

The California market is enormous.  It is in and of itself significantly larger than the Canadian market with far fewer barriers, greater consumption rates within the population and a massive tourist business.  It would be going too far to say that there is no limit, but there is certainly a vast amount of opportunity in many different areas – from cultivation to processing, innovations in cultivation and processing, distribution, marketing, branding, external mandatory testing, and so on.

What makes Chemistree different is that you have a team full of seasoned industry veterans.  Dennis Hunter is the biggest player in northern California by far when it comes to purchasing biomass, processing it and creating unique products.  Our point of differentiation really is the management team.  We have a strong component of corporate finance people, but the majority of our team is long-term cannabis industry players: cultivators, processors, consultants in design-build for cultivation and processing facilities, marketing.  Not only does it make us different, but it is our competitive advantage – our people and the access they have.

Tell us where the opportunities are in California and how you are taking advantage of them.

The opportunities we look for revolve around the concept of making an existing business better by accessing these markets.  You have a brand in Washington State and you want to bring that into California.  How do you do that?  You partner with some retail that also wants to move into California – take existing California relationships and invest in them and expand them.

My role, frankly, is to look for places we can deploy capital and continue with the idea that we are going to be as vertically integrated as possible.  We have cultivation in Washington and will be building cultivation shortly in California.  And there is more to come, the business that is very affiliative.  You don’t want to plant your own flag, build cultivation to the sky and hope somebody buys it off you.  It is hugely competitive and good people are hard to find.  Go to people who are already doing it and provide them with capital

We come in providing equity capital, convertible debt or another structure that fits, and we’re able to do that because we can raise funds in the Canadian public markets.

We are at that niche level as opposed to some of the big companies who are saying we don’t want to deploy $500,000, we want to deploy $50 million.  We’ll get there eventually, but right now it is about being able to put together a truly integrated business offering in California and Washington with smaller amounts of money in strong partnerships.

What do people have to look forward to from Chemistree in the next 12 months?

From the investor standpoint, there will be no shortage of news.  Expansion, growth within existing markets, expansion into new markets.  I’d say to anticipate some very interesting joint ventures, very interesting investments and some very interesting partnerships.

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Mon, 29 Oct 2018 15:35:00 -0400 https://www.proactiveinvestors.com/companies/news/208062/succeeding-in-california-cannabis-four-questions-with-chemistree-technologies-president-karl-kottmeier-208062.html