Canopy Rivers (TSXV: RIV) (OTC: CNPOF) announced that its portfolio company TerrAscend (CSE: TER) (OTCQX: TRSSF) has signed agreements to acquire ABI SF, which operates a Bay Area cannabis cultivation facility and owns the State Flower brand. State Flower is known for its ultra-premium cannabis flower and is currently sold through dispensaries in California and Nevada.
Vapen MJ Ventures (OTCQX: VAPNF) (CSE: VAPN) announced a new product collaboration with Mexican-American rapper and singer Baby Bash. Vapen is releasing a “Baby Bash Powered by Vapen” line of Vapen Pen Batteries and Bash Berry, a new cannabis cartridge flavor. The batteries, available in gold and rose gold, may be used for CBD or Cannabis products.
48North Cannabis (TSXV: NRTH) (OTC: NCNNF) has closed the agreement to acquire Rare Industries, a U.S. multi-state vape technology brand known as Quill. The acquired company has product distribution in Oregon and Washington and is planning to expand to California and Nevada in the near future. The acquisition marks 48North’s first foray into the United States.
Geyser Brands (TSXV: GYSR) released its first-quarter financial results for the three months ended June 30. Net loss was C$785,407 for the quarter, compared to C$414,688 for the same period of 2018. The company generated its first revenues of C$79,434 during the quarter, while gross profit was C$64,690, representing a gross profit margin of 81%. Geyser is engaged in building health-based hemp CBD consumer products in the nutraceutical, cosmetics, food & beverage and pet sectors world-wide.
Indiva Limited (TSXV: NDVA) (OTCQX: NDVAF) reported its financial and operating results for the second quarter ending June 30. Net revenues totaled C$173,500 versus nil in the second quarter of 2018 and C$241,369 in the first quarter of 2019 The company posted a loss of C$2.3 million, versus C$2.1 million in the same period last year.