WeedMD Inc.(CVE:WMD) (OTCMKTS:WDDMF) is headed into 2020 with a major new acquisition that will position the company as a significant medical cannabis provider in Canada.
The Toronto-based company announced Friday that it signed a deal with Starseed Holdings Inc, a medically-focused, federally-licensed company that provides cannabis for insured patients through their benefit plans.
In addition, WeedMD is bringing on a key strategic investor in the Labourers’ Pension Fund of Central and Eastern Canada (LPF), which will inject C$25 million into the new medical cannabis company.
KinerjaPay Corp (OTCMKTS:KPAY) updated shareholders about its proposed $22.5 million financing on Friday, with CEO Edwin Ng expressing confidence in securing the investment from Gabriel Capital Ltd.
In a statement Friday, the Jakarta-based company said both Gabriel’s bank HSBC and KinerjaPay’s bank China are still in the process of finalizing the receipt of the HSBC guarantee.
Over the last week, both parties have been exchanging email communications through the company's representative about the arrangement, KinjerjaPay said while acknowledging that the process has taken slightly longer than anticipated.
1933 Industries Inc (CSE:TGIF) (OTCMKST:TGIFF) posted fiscal year 2019 results after the close on Thursday that saw revenue jump 44% year-on-year to $18.1 million, driven by strong contributions from its cannabis subsidiaries. The Vancouver-based company said its 100% owned subsidiary, Infused Manufacturing - a Las Vegas-based manufacturer of hemp and cannabidiol-based medicinal and skincare products - contributed $9.9 million in annual revenue.
Thunderbird Entertainment Group Inc (CVE:TBRD) (OTCMKTS:THBRF) CEO Jennifer Twiner McCarron touted a strong fiscal quarter that saw the media company boost its revenue on the success of a suite of popular programs. The Vancouver-based production company posted revenue of C$17.1 million, up from $14.4 million during the year-ago quarter. Thunderbird’s suite of programming includes the documentary Highway Thru Hell, the animated show The Last Kids on Earth and CBC’s wildly successful Kim’s Convenience.
Hill Street Beverage Company Inc (CVE:BEER) (OCTMKTS:HSEEF) CEO Terry Donnelly said the company strengthened its brand and distribution network over the last two years, which resulted in an increase in sell-through to retail during the fiscal first quarter of 2020. In a statement accompanying the Canadian company’s latest numbers, Donnelly said: "Hill Street has made major strides in building both our brand and distribution for our alcohol-free products over the past two years, and the increase in sell-through to retail is an excellent indicator of our progress.”
Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) updated on this year's exploration at the Treasure Mountain Silver property in British Columbia, which is held under an option agreement with New Destiny Mining Corp. The property consists of 43 claims over 10,918 hectares, covering gold, silver, copper, lead and zinc and work has focused on the Superior (Lucky Todd) and Railroad copper occurrences. The Railroad prospect appears to be a structurally controlled copper-silver zone, the firm said. At Superior, the copper-gold-molybdenum signature and style of mineralization is interpreted as a porphyry-system.
Great Panther Mining Ltd (NYSEAMERICAN:GPL) (TSE:GPR) has lowered its fourth-quarter production guidance for its Tucano gold mine in Brazil due to some operational issues at the site. The precious metals miner said the output figure has been reduced for the three months to between 31,000 and 33,000 ounces of gold, down from 39,000 to 44,000 ounces. As reported previously, mining at Tucano's Urucum Central South pit (UCS) was suspended on October 6 due to a technical issue, but production was accelerated from the Urucum North and Urucum South pits.
Arctic Star Exploration Corp. (CVE:ADD) said that, pursuant to a directors resolution dated November 19, the company has consolidated its shares on a one-new-for-five-old basis, effective from the opening on December 2.
Lexaria Bioscience Corp. (OTCMKTS:LXRP) (CSE:LXX.CN) revealed Friday that it closed the second and final tranche of its previously announced private placement of units as at November 28, 2019. Further to its announcement of October 30, the global innovator in drug delivery platforms added, it received gross proceeds of US$121,275.00 from the sale of an aggregate 269,500 units at a price of US$0.45 per unit under the offering's second tranche. Each unit comprised of one common share and one warrant which the holder can exercise to purchase an additional share at a price of US$0.80 each until November 28, 2020 and thereafter at a price of US$1.20 until November 28, 2021 when the warrants will expire. The group said the net proceeds received from the second tranche of the offering will be used for general working capital.
Royal Road Minerals Ltd (CVE:RYR) (OTCMKTS:RRDMF) said the TSX Venture Exchange has accepted for filing documentation with respect to its brokered private placement, announced on October 21, 2019, which saw 13,636,364 common shares issued at a purchase price of 22 cents each with nine placees.
WeedMD Inc. (CSE:WMD) (OTCMKTS:WDDMF), a federally-licensed producer and distributor of medical-grade cannabis, has amended the release date of its quarterly financials to later on Friday November 29, and will host a conference call with management at 1 p.m. Eastern Time, hosted by Keith Merker, CEO and Nichola Thompson, CFO of WeedMD.