Canopy Rivers Portfolio Company Receives Milestone Health Canada Licence Amendment

Canopy Rivers Portfolio Company Receives Milestone Health Canada Licence Amendment

Canada NewsWire

TORONTO, Oct. 15, 2019 /CNW/ – Canopy Rivers (“Canopy Rivers“) (TSX: RIV, OTC: CNPOF), a venture capital firm specializing in cannabis, today announced that its portfolio company James E. Wagner Cultivation Corporation (“JWC“) (TSXV: JWCA, OTCQX: JWCAF) received a Health Canada licence amendment allowing for cannabis production in four new flowering rooms at its flagship facility in Kitchener, Ontario.

Canopy Rivers Inc. (CNW Group/Canopy Rivers Inc.)

“We believe that this licence amendment demonstrates Health Canada’s recognition of JWC, the quality of its operations, and its disciplined approach to expansion,” said Olivier Dufourmantelle, Chief Operating Officer, Canopy Rivers. “Through its supply agreement with TerrAscend, JWC has an active role in the Canopy Rivers ecosystem. We’ve seen that companies that work together, thrive together, and we think this Health Canada approval will enable JWC to increase production and further collaborate within the Canopy Rivers ecosystem.”

The additional flowering rooms are part of an ongoing program to expand JWC’s existing production capacity. At full-scale, the facility will measure 345,000 square feet. Like the previously licensed space, the newly licensed areas will be equipped with JWC’s proprietary GrowthSTORM™ Dual Droplet™ System. GrowthSTORM™ is an aeroponic method that sees plant roots suspended in the air and misted at regular intervals using specified nutrient solutions adapted for the system. When combined with the GrowthSTORM™ Management system, this method delivers a precise cultivation technique with the ability to collect and analyze data to continually deliver consistent, high-quality cannabis. More information on GrowthSTORM™ can be found on JWC’s website.

Once fully operational, the new flowering rooms will double the facility’s current licensed production capacity from 22,000 square feet, to approximately 44,500 square feet. The additional spaces are composed of two pods, each consisting of two flowering rooms, with each room containing approximately 5,500 square feet of cultivation space.

About Canopy Rivers

Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers identifies strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth Corporation (TSX: WEED, NYSE: CGC) and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem.

Forward-Looking Statements

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Canopy Rivers with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the impact of the licence amendment on JWC’s production capacity; the size of JWC’s full-scale facility and JWC’s intention to equip the newly licenced areas with the GrowthSTORM™ Dual Droplet™ System; management’s belief that this Health Canada approval will enable JWC to increase production and further collaborate within the Canopy Rivers ecosystem; and expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Canopy Rivers believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Canopy Rivers. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; the actual impact of the licence amendment on JWC’s production capacity and ability to collaborate within the Canopy Rivers ecosystem; changes in JWC’s plans with respect to its facility and the newly licenced areas; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in Canopy Rivers’ annual information form dated July 15, 2019, filed with the Canadian securities regulators and available on Canopy Rivers’ profile on SEDAR at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Canopy Rivers has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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SOURCE Canopy Rivers Inc.

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Westleaf Receives Health Canada Standard Processing Licence

Westleaf Receives Health Canada Standard Processing Licence

Canada NewsWire

The Company’s large-scale cannabis extraction facility, The Plant, can now begin processing and product formulation in time to meet expected demand of Cannabis 2.0

CALGARY, Oct. 15, 2019 /CNW/ – Westleaf Inc. (the “Company” or “Westleaf“) (TSX-V:WL) (OTCQB:WSLFF) is pleased to announce its large scale cannabis extraction, processing and product formulation facility, The Plant by Westleaf Labs, received a standard processing licence from Health Canada (the “Standard Processing Licence“) and is ready to start operations immediately. The Standard Processing Licence will allow Westleaf to process bulk cannabis to create and sell derivative products through a variety of commercial arrangements.

“This is a major catalyst for Westleaf to generate material revenue through the sale of derivative cannabis products and by offering contract manufacturing services,” said Scott Hurd, President and CEO of Westleaf. “The issuance of the Standard Processing Licence is timely as Westleaf prepares to launch its cannabis 2.0 products upon legalization which is expected on October 17, 2019“.

Cannabis 2.0 is the legalization of the next wave of recreational and medicinal cannabis products currently set to begin in Canada on October 17th, 2019. It will allow cannabis manufacturers and retailers to provide consumers with a wide range of new cannabis products including high quality and safe vape cartridges, edibles, concentrates and other oil products.

The 15,000 square foot Phase I of the facility has been built to European Union good manufacturing practice (GMP) specifications and is designed to process up to approximately 65,000 kgs of dried cannabis per annum into anticipated high quality edibles, concentrates, vape and oil products, including Westleaf’s first in-house product, a line of vape pens under the brand General Admission, as well as products under the Company’s other house brands, Backstage, and wellness brand, Loon. The Plant has an additional 45,000 square feet of space to expand extraction capacity as well as add additional product lines based on consumer preferences once the additional products are licensed post October 17, 2019.

With the pending legalization of cannabis derivative products, Westleaf anticipates strong industry wide demand for efficient extraction, processing and formulation capacity. The scalability of The Plant ensures Westleaf is well positioned to capitalize on the expected demand growth for contract manufacturing, tolling arrangements, white labeling, and in-house product formulation. In July 2019, Westleaf signed its first extraction contract with Delta 9 for white label derivative cannabis products worth at minimum approximately $4 million per annum with an option to increase up to $16 million per annum.

“The Delta 9 contract is the first of what we hope to be a number of similar arrangements between licensed producers, product developers and others who are preparing for the coming legalization of derivative cannabis products such as vapes, edibles, topicals and beverages, or what is called Cannabis 2.0,” noted Hurd. “We are preparing Westleaf to be in a strong position to capitalize on the expected spike in consumer demand for these products later this year and into 2020 and beyond.”

In addition, Westleaf has now satisfied ATB’s condition precedent (receipt of Health Canada standard processing licence) to draw the previously announced $3.7 million of additional capital in the form of a $2.7 million term loan and a $1.0 million line of credit for working capital purposes.

Westleaf Operational Updates:

  • Prairie RecordsNamed the top retailer in Canada by the Grow UP Conference and Expo, Prairie Records is generating revenue through three stores in the Saskatoon region and one in Calgary, with up to 20 more locations under development including downtown Calgary and Edmonton and a flagship store in the tourist centre of Banff, Alberta;

  • Thunderchild Cultivation – Phase I (80,000 square feet) of the large-scale cultivation facility in Battleford, Saskatchewan is fully funded and on track for completion and submission of its Health Canada evidence package for a cannabis standard cultivation licence by the end of 2019.

About Westleaf Inc.

Westleaf is a Canadian cannabis company focused on cannabis brands, extraction and production of derivatives, wholly owned retail, as well as cannabis cultivation. The Company’s Health Canada licensed extraction and processing facility, The Plant, is expected to produce high quality and consistent cannabis derivatives and consumables, both for Westleaf’s in-house brands as well as white label products. Westleaf’s retail concept, Prairie Records, leverages the instinctual tie between recreational cannabis and music with stores operating or in development across Western Canada. The Company’s Thunderchild cultivation facility is scheduled for completion at the end of this year.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release


Cautionary Statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, (i) retail cannabis stores that Westleaf plans to open; (ii) the construction of Westleaf’s production facilities and the timing for completion of same; (iii) commencement of production at Westleaf’s production facilities; (iv) commencement of operations at the Plant, its capacity to manufacture and extract cannabis derivative products and corresponding scalability, its ability to provide a competitive advantage by being adaptive to consumer needs and material revenue that may be derived from its operations; (v) products and brands to be produced from Westleaf’s production facilities and the products and services that Westleaf plans to offer; (iv) timing of provincial and federal regulatory approvals; (vii) timing of legalization of certain derivative products and the anticipated benefits and impact on Westleaf; (viii) changes in cannabis consumption habits among Canadians; (ix) anticipated revenue from contractual arrangements with Delta 9; * draw down on credit facilities with ATB; and (xi) the processing and production capabilities of Westleaf’s extracting and cultivation facilities. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.
Such factors include, but are not limited to: risks relating to the ability to obtain or maintain licenses to retail cannabis products; review of Westleaf’s production facilities by Health Canada and receipt of licenses from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis, including the passing of regulations regarding derivative cannabis products; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; the ability of Westleaf’s production facilities to operate and perform at peak production; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under Westleaf’s credit facilities; timing and completion of construction of Westleaf’s production facilities and retail locations; and the delay or failure to receive board, ATB Financial or regulatory approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Westleaf assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Product Formulation Reactors at The Plant by Westleaf Labs in Calgary, Alberta, October, 2019. Photo by Todd Korol. (CNW Group/Westleaf Inc.)

Supercritical cannabis CO2 extractor at The Plant by Westleaf Labs, Calgary, Alberta, October, 2019. Photo by Todd Korol. (CNW Group/Westleaf Inc.)

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SOURCE Westleaf Inc.

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Jabra teams up with Zoom to offer a fully immersive video conferencing experience

Jabra teams up with Zoom to offer a fully immersive video conferencing experience

Canada NewsWire

Jabra PanaCast selected as the first video device for new Zoom service

Delivers a video conferencing experience akin to in-person meetings

LOWELL, Mass., Oct. 15, 2019 /CNW/ – Jabra, a leader in audio and video communications solutions, today announces that the Jabra PanaCast, engineered to be the world’s first intelligent Panoramic-4K plug-and-play video solution, was selected by Zoom Video Communications, Inc. as the video solution for its new telepresence capability, Zoom Rooms Speaker Switching. The Jabra PanaCast was selected for being the only enterprise-grade camera with the advanced functionality needed to complete the Zoom Rooms experience.

Jabra PanaCast 180° Panoramic-4K plug-and-play video solution.

Announced this week at Zoomtopia, Zoom’s user conference, the Zoom Rooms Speaker Switching is an added feature to Zoom Rooms, a solution that equips every sized conference room with all of the tools needed to run or join video meetings with just the tap of a button. The telepresence feature takes the existing Zoom Room capabilities one step further to deliver a conferencing experience that is even closer to in-person meetings. The new service and its hardware components, including the Jabra PanaCast camera, provide a natural and immersive collaboration experience, improving participant engagement even when colleagues are thousands of miles away.

Jabra PanaCast is certified for Zoom Rooms and was selected as being the first camera that could deliver three individual video streams in a single product. The three different camera angles will work in tandem with the Zoom Rooms Speaker Switching along with three microphones that detect which side is speaking. Then Zoom Rooms logic will switch to the proper camera angle based on the microphone activity. If no one is speaking, the service automatically applies the full preset mode so that all participants are clearly captured and displayed in their actual size. Furthermore, the Jabra PanaCast’s small form factor allows the device to be placed at eye level, facilitating an eye-to-eye contact experience that removes barriers between colleagues and enables them to communicate as though they’re in the same room.

“We are pleased to collaborate with Jabra in delivering the next iteration of the Zoom Room to customers,” said Nick Yu, Head of Global Services. “With Jabra’s leading camera technology, we have developed an unique offering that delights users and IT departments by delivering a plug-and-play solution that takes the unnecessary complexity, cost and maintenance out of creating an immersive conferencing system.”

Jabra PanaCast is the world’s first intelligent panoramic video collaboration device with three 13-megapixel cameras that work together as one via core technology embedded in the built-in Jabra PanaCast Vision Processor. The multi-camera array solution offers a full 180-degree panoramic field of view, creating zero wasted space and eliminating the two out of five participants that are typically cut from a traditional camera’s view. The panoramic video and industry-first Intelligent Zoom autonomously and continuously optimize the field of view to include everyone in the conversation.

“At Jabra, we have long been focused on building advanced sound and video solutions to make the huddle room the optimal collaboration space,” said Aurangzeb Khan, SVP, Jabra Intelligent Vision Systems. “With the evolving nature of work, it is paramount that employees have a space to communicate and collaborate with each other, remote employees and colleagues around the globe. We are thrilled to work together with Zoom and be at the forefront in delivering a completely immersive conferencing platform using the best-in-class software, sound and video technology. We are confident the Jabra PanaCast will bring an unparalleled video experience to Zoom Rooms.”

For more information, please go to: www.jabra.com/panacast

Pricing and availability:

Jabra PanaCast – MSRP $895.00

About Jabra
Jabra is a leader in engineering communications and sound solutions – innovating to empower both consumers and businesses. Proudly part of the GN Group, we are committed to letting people hear more, do more, and be more than they ever thought possible. Through sound and video, we help transform lives. Jabra engineering excellence leads the way, building on 150 years of pioneering work. This allows us to create integrated headsets and communications tools that help professionals work more productively; wireless headphones and earbuds that let consumers better enjoy calls, music, and media; and pioneering video conferencing solutions, enabling seamless collaboration between distributed teams. Jabra employs approx. 1,400 people worldwide, and reported annual revenue of DKK 4,7bn in 2018. The GN Group, founded in 1869, operates in 100 countries and delivers innovation, reliability, and ease of use. Today, GN employs 6000 people, and is Nasdaq Copenhagen listed. GN makes life sound better. www.jabra.com    

© 2019 GN Audio A/S. All rights reserved. Jabra® is a registered trademark of GN Audio A/S. All other trademarks included herein are the property of their respective owners (design and specifications are subject to change without notice). 

 

Jabra. (PRNewsFoto/Jabra)

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SOURCE Jabra

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