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Is CBD rosin just as effective as a CBD tincture? I usually use a tincture but hate the taste.

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Turning Point Brands Invests $15 Million in Dose-Controlled Vape Pen Company to Target CBD Market

Turning Point Brands Makes Strategic Investment into dosist™ A World-Class and Globally Recognized Cannabis Brand LOUISVILLE, Ky.-October 27, 2020-(BUSINESS WIRE)–Turning Point Brands, Inc. (“TPB”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products with active ingredients, today announced a $15 million strategic investment in leading global cannabinoid company dosist™ and an exclusive co-development […]

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Turning Point Brands Makes Strategic Investment into dosist™ A World-Class and Globally Recognized Cannabis Brand

LOUISVILLE, Ky.-October 27, 2020-(BUSINESS WIRE)–Turning Point Brands, Inc. (“TPB”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products with active ingredients, today announced a $15 million strategic investment in leading global cannabinoid company dosist™ and an exclusive co-development and distribution agreement of a new national CBD brand, created in partnership with dosist’s thc-free business unit. Additionally, TPB has an option to invest another $15 million at pre-determined terms within the next 12 months.

The cannabis market is exploding and now is the opportune time to invest in the space and significantly expand our addressable market. With its leadership in results-oriented plant-based formulas and dose control technology, global recognition, consumer trust and scalability, dosist was the clear choice to be our new partner in this critical growth market.

Larry Wexler, CEO of Turning Point Brands

We couldn’t be more pleased to enter into this agreement with dosist, to not only help fuel its exciting new business and co-create a completely new CBD brand for our retail partners, but also to leverage their expertise as a marketing powerhouse to help build the future of both our companies.

“We are extremely proud to partner with Turning Point Brands on our next phase of growth and distribution as we continue to transcend the way consumers think about their health and wellness,” said Gunner Winston, CEO of dosist.

Turning Point’s leadership team has demonstrated remarkable foresight and vision about the future and opportunity for federally legal cannabinoid products. The synergy between our brands around this scope and mission is incredible and we are excited by what we will achieve together with this partnership.

Gunner Winston, CEO of dosist

Since its launch in 2016, dosist has quickly established itself as a pre-eminent and globally recognized cannabis brand through its award-winning innovations (Time Magazine, Fast Company, Bloomberg), and superior marketing prowess. The renowned dosist product portfolio, including its internationally patented dose-control inhalation technology, delivers scientifically engineered formulations targeting key human need states. dosist formulas offer consumers a complete range of solutions, starting with its core line featuring balanced ratios of cbd to thc, and their thc-plus line, a collection of high potency formulas designed for targeted thc-forward experiences.

All dosist formulas are delivered via their proprietary dose-controlled devices, which include their completely re-engineered inhalable disposable dose pen™, the newly launched dose pen™ rechargeable system and the dose dial™, which dispenses a 3.7 mg sublingual tablet. In the coming 3-6 months, dosist plans to expand on its current platform with a substantial innovation pipeline including tinctures, gummies and dynamic live resin and full spectrum formulas developed in collaboration with some of the most progressive brands in the space.

dosist’s leading cannabis products are currently available in California, Colorado, Nevada and Canada, serving a total dispensary network of more than 700 stores. The company has plans to launch into key new markets in the coming months, adding geographies as they continue their North American expansion. dosist has consistently elevated the retail experience across all markets which they currently service, including a transformative retail store on iconic Abbot Kinney Blvd. in Venice, CA, and a flagship shop-in-shop in Planet 13 in Las Vegas, the largest cannabis retail destination in the world, in addition to other numerous and impactful retail experiences across their distribution channels.

In addition to their robust portfolio of current and upcoming thc-regulated products, dosist plans to launch a globally scaled omni-channel platform in November, dosist thc-free™, bringing the brand’s leading standards of precision, quality and targeted performance to the rapidly growing CBD market across multiple product lines. The partnership between TPB and dosist also includes the co-creation of a completely new national CBD brand aimed at the mass market. This partnership combines Turning Point Brands’ best-in-class sales and operations infrastructure with dosist’s expertise in product innovation, marketing and brand development. The new brand will be exclusively distributed by TPB, which services more than 180,000 points of sale in the United States.

dosist thc-free products will be available nationally across the US starting early November at www.dosistthcfree.com and select retailers. For more information about dosist thc-free and its products follow them on Instagram @dosistthcfree.

Transaction Details

The proceeds of TPB’s investment are being used by dosist’s thc-free and Canadian business units and cannot be used in connection with or for any cannabis or cannabis-related operations in the United States, unless and until such operations comply with all applicable laws of the United States. TPB has been issued a warrant to receive preferred shares of dosist that will automatically be exercised upon a change in federal laws in the United States to reschedule or deschedule cannabis and/or permit its general cultivation, distribution and possession. As part of this agreement, TPB will also have an option to fill a seat on the board of directors of dosist upon legalization.

About Turning Point Brands, Inc.

Turning Point Brands (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products with active ingredients through its iconic core brands Zig-Zag® and Stoker’s®, and its emerging brands within the NewGen segment. TPB’s products are available in more than 210,000 retail outlets in North America in addition to sites such as www.zigzag.com, www.nu-x.com and www.solacevapor.com. For the latest news and information about TPB and its brands, please visit www.turningpointbrands.com.

About dosist

dosist™, based in Los Angeles, California, launched in 2016 and has since become known as a disruptor in the health and wellness industry. dosist was named one of Time Magazine’s Best Inventions of 2016, was recognized by Fast Company as one of 2018’s Top 10 Most Innovative Companies in the health sector, and was designated by LinkedIn as the number two Top Startups 2019: Hottest U.S. Companies To Work For Now. dosist’s new thc-free business is scheduled to launch in early November, providing natural options for some of our most common ailments through dose-controlled targeted cbd+ formulations such as calm thc-free™, sleep thc-free™ and relief thc-free™. For more information about dosist thc-free™ and its products visit the website at dosistthcfree.com and follow them on Instagram @dosistthcfree.

Original Press Release

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NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.


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Source: https://www.newcannabisventures.com/turning-point-brands-invests-15-million-in-dose-controlled-vape-pen-company-dosist/

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Aurora Cannabis Files New $500 Million Shelf After Exhausting Prior One

Aurora Cannabis Announces Filing of Preliminary Base Shelf Prospectus and Provides Update on Balance Sheet Strength Existing At-The-Market (ATM) program now complete New Preliminary Base Shelf Prospectus Has Been Filed Current Cash Position is Approximately $272 million EDMONTON, AB, Oct. 27, 2020 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining […]

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Aurora Cannabis Announces Filing of Preliminary Base Shelf Prospectus and Provides Update on Balance Sheet Strength
  • Existing At-The-Market (ATM) program now complete
  • New Preliminary Base Shelf Prospectus Has Been Filed
  • Current Cash Position is Approximately $272 million

EDMONTON, AB, Oct. 27, 2020 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced it has completed the previously filed At-The-Market (“ATM”) program. Because of this, the Company has filed a new preliminary short form base shelf prospectus (the “Shelf Prospectus”) with securities regulators in each of the provinces of Canada, except Quebec, and a corresponding shelf registration statement on Form F–10 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”).

The base shelf prospectus when made final, will allow the Company to make offerings of up to U.S.$500 million of common shares, preferred shares, warrants, subscription receipts and debt securities, or any combination thereof during the 25-month period that the base shelf prospectus remains effective. The specific terms of any offering of securities, including the use of proceeds from any offering, will be set forth in a prospectus supplement to the Shelf Prospectus, which will be filed with the applicable Canadian securities regulatory authorities and the SEC. Aurora filed the Shelf Prospectus in order to provide the Company with continued financial flexibility going forward.

With the completion of the previously filed ATM program, the Company currently has available cash resources of approximately $272 million, in addition of undrawn revolver capacity of approximately $11 million.

About Aurora 

Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. The Company’s brand portfolio includes Aurora, Aurora Drift, San Rafael ’71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD. Providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. For more information, please visit our website at www.auroramj.com.

Aurora’s Common Shares trade on the TSX and NYSE under the symbol “ACB”, and is a constituent of the S&P/TSX Composite Index.

Original press release

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Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.


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Source: https://www.newcannabisventures.com/aurora-cannabis-files-new-500-million-shelf-after-exhausting-prior-one/

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Accountants from Coast to Coast Meet to Discuss Cannabis Issues

This week, the California and Colorado Society of CPAs, along with 18 other state CPA groups, from Alabama to Iowa, are hosting a virtual event that they hope will answer some of the toughest cannabis-related questions that certified public accountants face as they advise clients in the industry.  Topics included how the cannabis industry was […]

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This week, the California and Colorado Society of CPAs, along with 18 other state CPA groups, from Alabama to Iowa, are hosting a virtual event that they hope will answer some of the toughest cannabis-related questions that certified public accountants face as they advise clients in the industry. 

Topics included how the cannabis industry was disrupted by the COVID-19 pandemic and how it might recover, hemp and cannabidiol in food, intellectual property and taxation, and regulatory, banking, and labor issues. 

Aaron Smith, executive director of the National Cannabis Industry Association, kicked off the event with a birds-eye update on cannabis. While much of the national cannabis conversation has focused on whether President Donald Trump might legalize cannabis if re-elected, or if former Vice President Joe Biden will go beyond his plan to decriminalize, Smith emphasized that attention should be on the five states that have adult use and medical legalization on their ballots this fall (New Jersey, Arizona, South Dakota, Mississippi, and Montana). 

“Because of the federalist system in this country, states are able to really be the laboratories of democracy,” Smith said, pointing toward strong polling in New Jersey, the state’s population of nine million, and its “significance in the region.” 

“New York, for example, has been looking to enact adult use cannabis laws for a couple of years. Came very close last year. And I think that victory in New Jersey in November will really be kind of the thing that tips New York early in 2021, and then perhaps Pennsylvania and Connecticut,” Smith said. 

Given that many people in the audience were accountants or attorneys, it didn’t take long for the conversation to shift to the Internal Revenue Service. (Read Cannabis Wire’s resource page on tax hurdles faced by the cannabis industry.)

“The crushing and unfair provision of the tax code Section 280E, which doesn’t allow businesses to take their deductions in our industry, is really holding us back,” Smith said. 

Smith mentioned how the COVID-19 pandemic, in some ways, slowed attempts at national cannabis policy reform. The SAFE Banking Act, which had momentum before the virus hit, has taken a back seat as lawmakers shifted away from “anything that’s not directly related to either the public health crisis that the pandemic posed, or the economic fallout of the pandemic, understandably so,” Smith said. And while the HEROES Act, the House-passed COVID-19 relief bill, includes SAFE Banking language, “the death of Ruth Bader Ginsburg has now moved the Senate into prioritizing, fast-tracking a Supreme Court Justice,” while coronavirus relief remains uncertain. 

A panel discussion about the coronavirus pandemic, which included Josephine Giordanoa, a CPA based in Arizona, Tom Hood, a CPA in Maryland, and Ted Lichtenberger, co-founder of the Flower Company, a wholesale cannabis membership club that compares itself to Costco, dove deeper into how COVID-19 changed the cannabis industry.

“Overall, the supply chain has been pretty strong in resisting the ups and downs of COVID,” Lichtenberger said. 

Giordanoa noted that many current hurdles, including slow investment, are issues that already existed for the cannabis industry — the pandemic just exacerbated things. 

“Once COVID hit, they’ve been a little bit shy in providing capital that’s needed, although we’re starting to see that starting to overturn,” she said. 

Giordanoa also highlighted that while nearly every cannabis business was declared “essential,” COVID-19 still brought “operational changes,” like the need to physically distance. 

“Social distancing is an issue. Having the customers come in and having to maintain a certain number of customers within the dispensary itself just cuts back on the amount of people that could gravitate toward different products within the dispensary,” she said. 

Some cannabis business owners have had to furlough and lay off employees, while others are succumbing to the difficult market presented by the synergistic effects of federal prohibition, banking issues, and the pandemic. Still, many of the owners that Giordanoa said she’s spoken to have said that they’re doing everything they can to avoid layoffs. 

“I think by the time we weed out the non-performers, we’re going to be in a mature industry that’s really going to be able to sustain itself beyond this point of the pandemic,” Giordanoa said. 

A panel discussion on hemp and CBD in food brought together Amanda Conley and David Bush, both attorneys, and Joyce Cenali, a partner at Big Rocks Partners investment firm. 

“We have a federal regulatory scheme that has been now put into place for federally-regulated hemp production in the United States. But the federal government would rather not do the regulating itself. It doesn’t have the resources. It doesn’t have the interest,” said Bush, a lawyer with Hoban Law Group, adding that the U.S. Department of Agriculture’s interim final rule on hemp production has created controversy. (Read Cannabis Wire’s coverage of the rule.)

“What it has done is it creates a system of guidelines, regulatory guidelines, which if states wish to enforce, regulate, administer the federal program, they can do so subject to guidelines,” Bush said. “It is a very controversial program. States are pushing back. They don’t like some of the federal regulations. So that is subject to some modification in the future.” 

Conley gave an overview of the Food and Drug Administration’s approach to CBD, which is, essentially: now that the FDA has approved GW Pharmaceuticals’ Epidiolex, which contains CBD extracted from cannabis, CBD can’t be added to food or treated like a dietary supplement. (Read Cannabis Wire’s coverage of the FDA’s current and forthcoming CBD regulations.)

“We’re now at a really interesting crossroads where we’re going to see: how is the FDA going to deal with this? How are they going to deal with this huge CBD market? But then, also, this really clear guidance to them that says, ‘you can’t sell this product as anything but a drug once it’s been approved,’” Conley said. 

Colorado Rep. Ed Perlmutter is scheduled to speak when the event continues Tuesday. 

Source: https://cannabiswire.com/2020/10/27/accountants-from-coast-to-coast-meet-to-discuss-cannabis-issues/

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