This is a fair question worth asking, so let’s jump right into it. The choice by a city or region in the United States to use a nickname such as the New Amsterdam specifically for marketing of legalized cannabis sales potentially could cause all kinds of legal entanglements. And we don’t want those nasty outcomes to befall anyone, now do we?
I believe this cannabis sales marketing nickname rightfully belongs to Las Vegas, Nevada and not to other U.S. venues where cannabis consumers legally can shop. So, my particular bias is out there in plain view for everyone to see.
Local community and business leaders nowadays talk openly about their hopes for Las Vegas to learn the many available lessons about managing tourism brought on by this culture change. More specifically, such hopes consider the impact of potential tax and commercial revenue that are expected to be generated by an increase in cannabis tourism to Las Vegas.
The future of Las Vegas is best considered through the lens of history. Amsterdam, the capitol of the Netherlands, with roughly the same population as the Las Vegas Valley, has since the late 1970s learned to manage their influx of visiting cannabis consumers internationally. In contrast to the comparatively young Las Vegas, however, Amsterdam has had time to develop and grow since the late 12th century. Could Las Vegas more quickly become the New Amsterdam of the Mojave Desert following the anticipated 2019 legalization of public consumption of cannabis products locally?
This is not a question that can be answered either easily or quickly. Will the entire Las Vegas Valley somehow learn to stay ahead of the increasing public acceptance of using cannabis? Some Las Vegas locals speculate that this entire region potentially could experience a major upswing in both visitors and new residents who might flock here for reasons completely unrelated to casinos or Broadway-style shows or even a Las Vegas expansion of professional sports teams. In 2018 the annual number of visitors exceeded the number of locals in Las Vegas 13 times over so it is reasonable to expect Southern Nevada in the near-future will face an influx of additional people here.
The long-standing nickname of “Sin City” distinguishes Las Vegas from other population centers in the United States. Las Vegas owns the reputation as the marriage and divorce mecca of the nation. The allure of neon-lit casinos across the Las Vegas Valley motivates visitors to part with their money. The next logical phase in the evolution of Las Vegas as a world-class territory of pleasure is the marketing, sales, and public consumption of cannabis.
The Original Amsterdam
The photograph included here shows a cannabis coffee shop located in the picturesque city of Amsterdam. This venue may be unfamiliar to you. Perhaps you may not have paid sufficient attention during world geography classes in elementary school. Perhaps you or your parents did not value studying anything beyond a typically limited circle that surrounded you during your formative years. Either way, you may already have missed out due to rigid beliefs from not having a sufficiently open mind.
Try to catch up. The original Amsterdam is located in the European country known as Netherlands. Cannabis coffee shops are only one of the many attractions that stimulates tourism to this Old World city which got started in the late 12th century. Much later in the New World, a colony was established on Manhattan Island in the 17th century and that was given the name of New Amsterdam. If only they somehow had managed to retain that very cool name, nobody today would be discussing who should own the marketing rights.
Very Cool Name
Of course, the coolness or trendiness or desirability of the name New Amsterdam is a more recent sensibility. In 2007 the name Oaksterdam University—a mash-up of Oakland and Amsterdam— was chosen for the first cannabis college in the U.S. in the San Francisco Bay Area.
Fast forward to 2019 and think about whether there has been any trademarking of this very cool name. A Las Vegas cannabis dispensary uses the brand name New Amsterdam Naturals and so does a Los Angeles dispensary. There is also a Portland, OR cannabis dispensary named The New Amsterdam.
Marketing Value of a Nickname
The original Amsterdam in the Netherlands and Las Vegas, Nevada share three similarities:
- a worldwide reputation as particularly desirable tourism destinations
- casino gambling
- retail cannabis sales
To me, these three similarities point to the marketing value of the nickname the New Amsterdam being claimed by Las Vegas, Nevada.Source: https://drwoodycannabiscoaching.com/2019/09/20/which-u-s-city-deserves-the-nickname-as-the-new-amsterdam/?utm_source=rss&utm_medium=rss&utm_campaign=which-u-s-city-deserves-the-nickname-as-the-new-amsterdam
Element expands fastener testing with Nadcap accreditation
Element Materials Technology has been recognised with a new Nadcap accreditation for fastener testing at its Huntington Beach, California laboratory.
Element’s Huntington Beach laboratory offers the largest Nadcap-accredited scope of capabilities for fasteners. This includes testing for commercial aerospace fasteners, such as rivets on the exterior of planes; military and defence fasteners; and space applications such as nut fastenings that hold satellites to rockets for launch. The Huntington Beach laboratory is the second Element testing facility to receive a Nadcap accreditation for fastener testing after Seville, Spain.
Element’s provision of fastener testing includes fastener stress rupture; fastener fatigue; double shear; stress durability; metallography; and hardness testing.
Rick Sluiters, EVP of Americas at Element, said: “We are thrilled our Huntington Beach laboratory has received a Nadcap accreditation for fastener testing. This facility has been testing aerospace fasteners for almost 40 years and our team are experts in this field.
“With the addition of this new Nadcap accreditation at our California facility, we can now offer customers across North America an even broader scope of fastener testing capabilities. The accreditation is a true reflection of our commitment to being the most trusted testing company in the aerospace sector, and to ensuring fastening equipment is tested to the highest standards, and with minimal turnaround time for our customers.”
Element’s Nadcap-accredited testing capabilities at Element Huntington Beach supply the base for quality control and product improvement in West Coast aerospace, military, nuclear, and medical manufacturing industries, among others.
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Universal Alloy turns to Fulton for steam as operations expand
With a requirement for new steam boilers with increased capacity, higher efficiency and more eco-friendly emissions when expanding their operations at a second facility in Romania, Universal Alloy Corporation (UAC) turned to heat transfer specialist Fulton, the supplier of steam boiler solutions already installed at its facilities in Romania and Vietnam.
Heat transfer specialist Fulton has supplied, assisted with installation and commissioned two gas-fired, horizontal RBC3000 steam boilers for Romania-based UAC, a manufacturer and fabricator of high-strength, hard alloy extrusions for aircraft structures or where precision-engineered products are critical.
This is UAC’s second Fulton installation in Romania – at an all-new facility built to cope with increased demand from the airline industry – and third installation across its sites in Europe and Vietnam.
In accordance with strict Romanian regulations on the installation of new plant equipment, including steam boilers, as the OEM Fulton had to be in attendance at the system testing stage, ensuring reliable, maintainable steam could be provided ahead of a planned visit by several prestigious UAC customers. This meant that Fulton’s engineering services supplied support from the UK and, in line with current COVID-19 guidelines, had to self-isolate for two weeks following the test-fire visit.
Under normal operating conditions, the two RBC steam boilers at the new Romanian facility are setup for N+1, with steam being used to heat water in several large vessels via coils, with the water being used for quenching purposes during component processing. Steam is also being passed through coils for a heater-dryer system at the end of the same processing line.
For the steam boilers supplied to UAC, Fulton partnered with renowned burner manufacturer Weishaupt and supplied the RBCs with two low-NOx, fully-modulating burners and reconfigured the boiler steam outlet nozzles to run at just 2 bar. The use of a Siemens high integrity digital burner management sytsem means the boilers are capable of achieving at least 7:1 turndown, something not always achievable from large horizontal firetube boilers.
Additionally, unlike typical gas pressures in the UK of approximately 20 mbar or 60 mbar on the continent, the supply at UAC’s site in Romania was 1.6 bar, so Fulton and Weishaupt provided an over-protection rig for the gas components in the gas train. While the gas supply to the gas train is now regulated to 95 millibar, the over-protection rig ensures that a slam-shut system is enabled should the gas pressure exceeds 180 millibar, completely negating any possible component damage.
In addition to November’s test-firing visit, two of Fulton’s engineers visited Romania in September to service the RBC boiler at UAC’s original facility and commission the two boilers at the new plant. Again, both engineers followed COVID-19 guidelines on self-isolating when returning to the UK.
Both visits also provided an opportunity for the training of key boiler operators at UAC’s new manufacturing facility which, as well as the usual instruction and guidance, also ensured that operators were educated on the start-up procedures in both low fire hold and auto modulation modes for these particular boilers.
Offering higher capacities than the 2500 kg/h maximum for its VSRT range of vertical boilers, with outputs to 4787 kg/h and a maximum working pressure of 10.34 bar, Fulton’s RBC range can be specified with matched multi-stage oil, modulating gas or dual-fuel burners as standard, with other burners available on request. The boilers are constructed to BS12953 standard, meet current and anticipated legislation and have been engineered to provide a substantial performance margin.
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Verano Holdings Announces C$100 Million Bought Deal Private Placement of Special Warrants
Chicago, IL, Feb. 24, 2021 (GLOBE NEWSWIRE) — Verano Holdings Corp. (“Verano” or the “Company”) (CSE: VRNO) is pleased to announce that it has entered into an agreement with Beacon Securities Limited (“Beacon”) and Canaccord Genuity Corp. (together with Beacon, the “Co-Lead Underwriters”), on behalf of a syndicate of underwriters (together with the Co-Lead Underwriters, the […]
The post Verano Holdings Announces C$100 Million Bought Deal Private Placement of Special Warrants appeared first on CannabisFN.
February 25th, 2021
Chicago, IL, Feb. 24, 2021 (GLOBE NEWSWIRE) — Verano Holdings Corp. (“Verano” or the “Company”) (CSE: VRNO) is pleased to announce that it has entered into an agreement with Beacon Securities Limited (“Beacon”) and Canaccord Genuity Corp. (together with Beacon, the “Co-Lead Underwriters”), on behalf of a syndicate of underwriters (together with the Co-Lead Underwriters, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 3,510,000 special warrants of the Company (the “Special Warrants”) at a price per Special Warrant of C$28.50 (the “Issue Price”) for aggregate gross proceeds of C$100,035,000 (the “Offering”).
The Company has granted the Underwriters an option, exercisable by Beacon on behalf of the Underwriters, in whole or in part at any time up to 48 hours prior to the closing date of the Offering, to purchase up to an additional 526,500 Special Warrants at the Issue Price for additional gross proceeds of up to C$15,005,250.
Closing of the Offering is expected to occur on or about March 11, 2021 or such date as the Underwriters and the Company may agree (the “Closing Date”). The net proceeds of the Offering are expected to be used for acquisitions, working capital and general corporate purposes.
Each Special Warrant will entitle its holder to receive one (1) subordinate voting share of the Company (an “Underlying Share”).
All Special Warrants shall be deemed exercised on behalf of, and without required action on the part of, the holders on the earlier of:
- the fifth business day on which a final receipt is obtained from the Ontario Securities Commission, on behalf of the securities regulatory authorities in each of the Provinces of Canada (other than Québec), for the filling of the final short form prospectus (the “Final Prospectus”) pursuant to National Instrument 44-101 – Short Form Prospectus Distributions or, alternatively, the filing of a preliminary base shelf prospectus and a final base shelf prospectus, as supplemented by a prospectus supplement (the “Prospectus Supplement”) pursuant to National Instrument 44-102 – Shelf Distributions, in either case, qualifying the distribution of the securities to be issued upon exercise or deemed exercise of the Special Warrants (the “Qualifying Date”), upon the request of Beacon given after the Closing Date to qualify the Underlying Shares by short form prospectus or a supplement to a base shelf prospectus; and
- 4:59 p.m. (Toronto time) on the date that is four months and a day following the Closing Date.
The Closing of the Offering is subject to the completion of formal documentation, including but not limited to, the execution of an underwriting agreement with the Underwriters in connection with the Offering and receipt of regulatory approvals, including approval of the Canadian Securities Exchange.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Verano Holdings Corp. is a leading, vertically-integrated, multi-state cannabis operator in the U.S., devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. With a mission to address vital health and wellness needs, Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands: Verano, Avexia, Encore, and MÜV. The company’s portfolio encompasses 14 U.S. States, with active operations in 11, which includes eight production facilities comprising approximately 750,000 square feet of cultivation. Verano designs, builds, and operates dispensaries under retail brands Zen Leaf™ and MÜV™, delivering a superior cannabis shopping experience in both medical and adult-use markets. Learn more at www.verano.com
Forward Looking Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the ability of the Company to successfully begin or continue trading on the CSE or achieve its business objectives.
Although Verano believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
Head of Investor Relations
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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