More Than 400 New York Municipalities Opt Out of Adult-Use Cannabis Sales Ahead of Dec. 31 Deadline

超过400个纽约城市在12月31日截止日期前选择退出成人使用大麻的销售

2021-12-14 02:37:00 Business Times

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OAKLAND, Calif., Nov. 29, 2021 /CNW/ - PRESS RELEASE - Harborside Inc., a California-focused, vertically integrated cannabis enterprise, has announced that it has entered into definitive agreements to acquire UL Holdings Inc. , a California cannabis retailer with a dominant position in Southern California, and  LPF JV Corporation , a manufacturer, cultivator and distributor of award-winning cannabis brands in California. Following completion of the transactions, Harborside is expected to be renamed StateHouse Holdings, subject to shareholder and regulatory approval. Management believes that StateHouse, which is expected to trade under a new symbol, will be the largest and most developed cannabis platform in the state of California with retail, brands, processing, manufacturing, distribution and cultivation. Management believes that StateHouse will have the highest estimated annual revenue and brand market share among its current publicly-listed California peers, providing the company with a strong platform for growth as a consolidator of California's cannabis industry. Through the first nine months of 2021, Harborside, on a pro-forma basis including revenue of Sublimation Inc. (Sublime) for the entire period, had gross revenue of US$57.8 million, while Urbn Leaf and Loudpack had revenue of US$45.9 million and US$61.4 million, respectively. Therefore, on a pro forma basis, management estimates that StateHouse would have generated gross revenue of approximately US$165 million for the same period. Ed Schmults, the current CEO of Urbn Leaf, is expected to be appointed as CEO of StateHouse upon completion of the Urbn Leaf transaction and will be joining the Board of Directors of StateHouse. Marc Ravner, the current CEO of Loudpack, is expected to be appointed as president of StateHouse upon completion of the Loudpack transaction and will be joining the Board of Directors of StateHouse. Matthew Hawkins, current chairman and interim CEO of Harborside, will remain as Chairman of the Board of StateHouse.  "Since reconstituting the company's board of directors last year, our team embarked upon an ambitious mission to create a unique platform capable of consolidating California and driving significant growth through added scale. With these transactions, we are working to create a west coast cannabis powerhouse," said Hawkins. "The combination of high-quality assets, increased scale and experienced leadership will drive tremendous value for shareholders. California is one of the world's largest legal cannabis markets, with sales expected to reach US$7.4 billion by 2025. StateHouse will have a unique ability to navigate the operating challenges in the state and capitalize on the combined potential of the businesses we are acquiring. We are building what we believe is the ideal platform to consolidate the California cannabis sector, positioning us for long-term growth in both market share and profitability. Ed Schmults, an experienced leader with a proven retail and cannabis track record, is the right person to lead StateHouse into the future." The transaction was structured based upon the relative enterprise values of Harborside, Urbn Leaf and Loudpack. The aggregate consideration for the transactions will be met through the issuance of 151,427,786 subordinate voting shares of Harborside (SVS) and the assumption and restructuring of debts and other obligations as well as the issuance of 2,000,000 warrants at a strike price of US$2.50 per SVS. Harborside, Urbn Leaf and Loudpack noted that the structure of the transaction and overall consideration contemplates both a return to normalized enterprise valuations for California-focused cannabis companies and the potential for StateHouse to become a leading participant in that market.  Based upon the relative enterprise value of each party, following closing of the transactions, existing Harborside, Loudpack and Urbn Leaf shareholders will own approximately 35%, 39% and 26% of StateHouse, respectively, on a fully diluted basis and assuming conversion of all multiple voting shares of Harborside (MVS) to SVS. In connection with the transactions, management has entered into a letter of intent with Pelorus Equity Group to complete the Real Estate Financing (as defined below) of US$77.3 million of non-dilutive real estate debt financing, which unlocks significant value from the StateHouse real estate portfolio and provides significant growth capital for the business. See "Concurrent Financing" below for further details.  StateHouse Company Highlights "The cannabis industry in California has reached an important tipping point, and with the collective strengths of these three companies and the benefits of integration, we have the right combination of assets and skills to set a new standard, offering consumers the widest variety of products with best-in-class customer service," said Schmults. Ravner added: "We are excited about the potential for this business combination. The assets of Loudpack, Harborside and Urbn Leaf are highly complementary. With increased scale and vertical integration, we expect to be a premier operator across every stage of the cannabis value chain." Anticipated Benefits to Shareholders Details of the Transactions Urbn Leaf Transaction Pursuant to the terms of the definitive agreement with respect to Urbn Leaf, Harborside will acquire all of the equity interests of Urbn Leaf through the issuance of approximately 60,000,000 SVS, subject to adjustment, and the restructuring and assumption of debt. The Urbn Leaf Agreement provides for, among other things, customary representations and warranties and covenants, including mutual non-solicitation provisions and a US$2.5 million termination fee payable by either the Company or Urbn Leaf in certain circumstances. The implementation of the Urbn Leaf Transaction will be subject to the approval of a majority of votes cast by Harborside shareholders and the approval of the shareholders of Urbn Leaf, and the receipt of certain regulatory approvals, including customary closing conditions for a transaction of this nature. The Urbn Leaf Transaction has been unanimously approved by the board of directors of Urbn Leaf. The directors and officers and certain shareholders of Urbn Leaf, collectively holding approximately 69% of Series A shares and 96% of common shares, have entered into voting and support agreements to vote in favor of the Urbn Leaf Transaction. In addition, concurrent with the closing of the Urbn Leaf Transaction, the company will enter into a lock-up agreement with certain shareholders of Urbn Leaf in respect of the Harborside SVS to be received by such shareholders pursuant to the Urbn Leaf transaction. Pursuant to the Urbn Leaf Lock-Up Agreement, the Urbn Leaf Locked-Up Shareholders will agree not to sell, assign or otherwise transfer the Harborside SVS received. The restrictions lapse in three installments with each one-third of the shares released from the restrictions on the 6-month, 12-month and 18-month anniversaries from the closing of the Urbn Leaf transaction. Loudpack Transaction Pursuant to the terms of the Definitive Agreement with respect to the Loudpack transaction, Harborside will acquire all of the equity interest of Loudpack through the issuance of approximately 91,427,786 SVS, subject to adjustment, 2,000,000 warrants and the assumption and restructuring of debts. The warrants will be exercisable to purchase SVS at a price of US$2.50 per SVS, anytime within five years of the closing date. Harborside will have the option to accelerate the expiration date of the warrants in the event that the volume weighted average trading price of the SVS is equal to or greater than US$5.00.  The Loudpack Agreement provides for, among other things, customary representations and warranties and covenants, including mutual non-solicitation provisions and a US$5.0 million termination fee payable by either the Company or Loudpack in certain circumstances. The implementation of the Loudpack transaction will be subject to the approval of a majority of votes cast by Harborside shareholders, the approval of a simple majority of the holders of SVS, the  approval of the sole shareholder of Loudpack, the approval of the voting members of Loudpack's sole shareholder and the receipt of certain regulatory approvals, including, but not limited to, approval pursuant to the Hart-Scott-Rodino Antitrust Improvements Act, and other customary closing conditions for a transaction of this nature. The Loudpack transaction has been unanimously approved by the board of directors of Loudpack. All of the voting members of the sole stockholder of Loudpack have entered into a voting and support agreement to vote in favour of the Loudpack transaction. In addition, concurrent with the closing of the Loudpack transaction, the company will enter into a lock-up agreement with the sole stockholder of Loudpack in respect of the Harborside SVS to be received pursuant to the Loudpack transaction. Pursuant to the Loudpack Lock-Up Agreement, Loudpack's sole stockholder will agree not to sell, assign or otherwise transfer the Harborside SVS received, except to its members, who will be required to enter into equivalent lock-up agreements. The restrictions lapse in three installments with each one-third of the shares released from the restrictions on the 6-month, 12-month and 18-month anniversaries from the closing of the Loudpack transaction. Terms and Conditions  Following closing of the transactions, existing Harborside, Loudpack and Urbn Leaf shareholders will own approximately 35%, 39% and 26% of StateHouse, respectively on a fully diluted basis and assuming conversion of all MVS to SVS. As aforementioned, both the Loudpack transaction and Urbn Leaf transaction require approval of the CSE and by Harborside shareholders at a special meeting of shareholders to be held in the first quarter of 2022. Harborside shareholders will also be asked to approve, among other things, the proposed change in the company name at the meeting. A full description of the Loudpack transaction and Urbn Leaf transaction will be set forth in the management information circular of Harborside, which will be mailed to Harborside shareholders in connection with the Meeting, and filed on the System for Electronic Document Analysis and Retrieval (SEDAR) under Harborside's profile at www.sedar.com. Harborside Board Approval Harborside's board of directors has unanimously approved the transactions and has unanimously resolved to recommend that the shareholders of Harborside vote in favour of the transactions.  In addition, all directors and executive officers, as well as certain shareholders of Harborside, collectively holding approximately 27% of the Harborside voting interest, have indicated their intention to vote in favor of both the Loudpack transaction and the Urbn Leaf transaction.  PI Financial Corp. has provided fairness opinions to the board of directors of Harborside that, subject to the assumptions, limitations and qualifications set out in each such fairness opinion, the consideration to be paid by Harborside shareholders pursuant to the transactions is fair from a financial point of view to Harborside's shareholders. Closing The transactions are expected to close in the first half of 2022, subject to approval by Harborside shareholders, the CSE, regulatory approval and customary closing conditions. Concurrent Financing Roll Up Financing In connection with the transactions, the company has signed a non-binding term sheet with Pelorus Equity Group for a total of US$77.3 million of debt financing (the "Roll Up Financing") which would be used primarily to retire certain existing loans and provide additional working capital to the company, Urbn Leaf and Loudpack. The Roll Up Financing would contain a nominal interest rate of 10.25%, along with specified origination, closing and other transaction fees, and would be secured by certain real estate assets and cannabis licenses of the company, Urbn Leaf and Loudpack. It would also be subject to debt service ratio requirements, interest reserves, certain cross-corporate guarantees and defaults, subordination agreements and intercreditor agreements, along with a general corporate guaranty from the company. The Roll Up Financing is intended to be funded in two tranches, with the first occurring prior to closing on the acquisitions of Urbn Leaf and Loudpack, and the second tranche to be funded to the company post-closing, at a time of the company's choosing. The first tranche is intended to be funded in three separate loans, with one loan each to Urbn Leaf, Loudpack and the company. The Roll Up Financing also will contain terms so that, in the event that the first tranche is funded, and the company does not close on the acquisitions of Urbn Leaf and/or Loudpack, the company is no longer obligated to guarantee the specific portion of the first tranche that is related to the acquisition transaction that will not close. The company intends to enter into a definitive agreement with Pelorus prior to the end of 2021. "We're excited to be able to fund such a significant rollup in the California market," said Travis Goad, managing partner of Pelorus Equity Group. "We think the combined companies will be a formidable player on a go forward basis. This loan is one of our first in our new lower cost stabilized lending program. We expect this stabilized lending program will continue to be the best-in-class financing option for cannabis operators with cash flowing assets, especially for complex transactions such as this. Pelorus is constantly innovating new financing solutions for the cannabis real estate market."     Financial and Legal Advisors ATB Capital Markets Inc. and Stoic-Solidum Advisory acted as financial advisors to Harborside. Cassels Brock & Blackwell LLP acted as Canadian legal counsel and Duane Morris LLP acted as United States legal counsel to Harborside. PI Financial provided fairness opinions on the Transactions to Harborside. PGP Capital Advisors, LLC acted as financial advisor and Burns & Levinson LLP acted as United States legal counsel to Urbn Leaf.  Ducera Partners LLC and Beacon Securities Limited acted as financial advisor and Feuerstein Kulick LLP acted as United States legal counsel to Loudpack. Conference Call Matt Hawkins and Ed Schmults hosted a conference call on Nov. 30, 2021, followed by a question and answer session. Conference Call Date: Tuesday, November 30, 2021 Time: 10 a.m., Eastern time Toll-free Dial-in Number: 888-664-6392  International Dial-in Number: 416-764-8659 Sixty Four & Hope will open its second of 21 planned dispensary locations in South Los Angeles. The second location will open to the public Dec. 20 in LA’s Melrose District. Each Sixty Four & Hope business is owned by social equity cannabis licensees from South Los Angeles, with the goal to open all 21 locations by summer 2023, according to a company release. The Sixty Four & Hope dispensary concept, named after Proposition 64, which legalized adult-use cannabis in California, was developed to provide economic opportunities to those affected by the war on drugs. Each of the 21 planned business is developed with the goal of increasing each licensees’ income from $46,600–below the poverty live in LA–to more than $450,000 annually, while also creating 30-plus jobs with benefits. Funding for the businesses comes from a range of celebrity investors, including Queen Latifah, Nas, Troy Carter, Julius Erving III and Anthony Selah, who raised a combined $19 million. SAN RAMON, Calif., Dec. 7, 2021 /PRNewswire/ -- PRESS RELEASE -- Accela, a provider of cloud-based solutions for state and local government, has announced that the South Dakota Department of Health will use two components of Accela's Cannabis Regulation ecosystem to regulate and support the state's new medical cannabis program. South Dakota began accepting and issuing patient and caregiver card applications for medical cannabis last month, following the passage of Initiated Measure 26 in fall 2020. Accela's Cannabis Regulation software application, coupled with an expert partner ecosystem, including Accela's gold partner Byrne Software Technologies, Inc., allows South Dakota to easily process patient and caregiver card applications, as well as business cannabis license applications. State officials utilize Accela to review all applications, and licensed businesses and dispensaries can readily identify qualified medical cannabis cardholders through cloudPWR's web-based portal. "Accela is pleased to partner with the state of South Dakota's Department of Health to provide cost-effective tech solutions that optimize workflows, enhance patient and staff ease-of-use, and allow for system flexibility to meet ever-changing cannabis regulations," said Greg Felix, vice president of strategic solutions sales at Accela. "Our modern cloud platform, pre-configured cannabis regulation solution, and expertise in both government and the cannabis industry allowed our partners, cloudPWR and Byrne Software Technologies, Inc., to complete the cannabis business licensing and HIPAA HiTrust compliant patient and provider registry installation in just 35 days. Accela software, powered by Microsoft Azure, also ensures the highest level of system security." "The Accela Cannabis Regulation solution best met our needs by enabling effective qualification and identification of our patients and providers, proper vetting of businesses, and quick installation that met our statutory deadline. We look forward to providing our residents with a simple, fast, and compliant experience," said Lynne Valenti, deputy secretary of the South Dakota Department of Health. Accela Cannabis Regulation eases agency burdens in licensing cannabis cultivation, processing and retail businesses as well as medical patient and provider management. With automated workflows, flexible license types, and strong compliance functionality, Accela Cannabis Regulation makes regulatory agencies more efficient and responsive. To learn more about Accela's platform and solutions, please visit https://www.accela.com/solutions/. We talk a lot about the importance of hemp and cannabis testing and how to read certificates of analysis (COAs) to determine the results. True, those are critical components of creating high-quality products. But accurate testing and analysis rely on the preceding step that we often fail to discuss—sampling of the finished goods. Proper hemp and cannabis sampling is essential to ensure a consistent and homogenous end product that consumers expect and patients rely on. Let’s dive in. The Importance of Random Sampling and Minimum Quantities Medical cannabis, unlike commercial hemp products, is highly regulated for patient protection. That means most states require licensed third-party laboratories, like ACS Laboratory, to conduct the sampling on behalf of the manufacturers. Moreover, in states like Florida, it means labs can only test finished goods or shelf-ready products that are fully packaged and ready for sale. Most importantly, stringent regulations in the state require laboratories to select random samples per batch, and multiple selections at minimum quantities to ensure they’re getting an accurate picture of the product’s quality, potency and components across the entire batch. Random sampling of multiple products at minimum quantities is critical to accurately determine consistency and homogeneity. Consistency ensures that every gram of flower or oil contains just as much THC or CBD as the gram before it. Homogeneity, or uniformity, ensures that every piece of a consumable, such as an infused chocolate bar, has an even amount of THC and CBD throughout. Homogeneity and potency testing are essential because the manufacturing process is inevitably imperfect and can cause issues with irregularity. This kind of analysis ensures that every smokable flower product, extract, beverage and edible contains an even amount of THC and CBD throughout each piece and each batch. As a result, patients and consumers can feel confident that they’re taking the correct dosage and getting the same experience every time. But unlike medical cannabis, most U.S. states require limited homogeneity testing for adult-use cannabis and hemp in mature markets. The Issue with Hemp Sampling The issue in the hemp space is that clients often conduct the sampling themselves, unlike medical cannabis, where a third-party laboratory is accountable. The hemp manufacturer is entirely responsible for preparing samples and sending them to a laboratory via FedEx or UPS. The company could be sending multiple random samples, or they could be hand-picking ideal pieces that don’t reflect the entire batch. If manufacturers hand-select samples or simply don’t send enough pieces or milligrams for testing, it’s challenging to determine consistency and homogeneity. That means end users may suffer the consequences of unreliable products. If someone slices a 40-mg brownie in half, they should expect to receive 20 mg in each piece. But if the product is not homogenous, that person may consume 35 mg in one half of the product and only 5 mg in the other half. Uneven cannabinoid distribution can cause adverse effects, especially for psychoactive THC-based products. Conversely, it can also cause consumers to experience a lack of effects. When it comes to CBD products, inconsistent dosing means people may not get the relief they seek and may give up on the products altogether. These situations can be dangerous, disappointing and lead to mistrust in the industry as a whole. At the laboratory, we don’t know how the manufacturer chooses the samples in these unregulated situations. We simply receive and test them using our protocols. We’re confident in the outcomes, but the results might only tell part of the story. Theoretically, the samples could contain a much higher or lower cannabinoid content than the remaining products in the batch. Until state or federal regulating bodies guide the matter, we must rely on transparent, reliable and professional hemp brands to do the right thing. How to Conduct Sampling for Consistent and Uniform Results Whether we’re talking about flower, edibles, or oils, our goal at ACS Laboratory when collecting and testing samples is to ensure each batch has the same potency level and lack of contaminants. We’re concerned with consistency in flower and extracts, so we require a minimum of 30 grams for medical cannabis flower or a minimum of 0.35% of a retail batch or 15 mL for medical extracts. For hemp, we need 10 grams of flower and 10 mg/mL for extracts (depending on its form) to acquire a representative sample. When it comes to edibles, we take it one step further to determine the homogeneity per piece within the sample. To figure that out, we take the entire bar and homogenize it. Then we test it for potency. We require 15 g/mL (depending on its form) for hemp edibles. For medical cannabis edibles, we determine the minimum quantity based on the batch size. For example, a 100-mg chocolate bar may have 10 pieces, so we test each piece to ensure it has an equal dose of THC or CBD and that all 100 mg is uniformly dispersed. After that, we take three individual pieces of another bar and test them separately. The results of these separate tests should closely align with the initial homogeneity test. If they don’t match closely, the product is likely inconsistent. This second part of the process is critical and requires collecting enough samples to represent the entire product, batch, and its pieces.   Ensuring Trust and Consistency Positive consumer experiences hinge on product continuity and homogeneity. For brands to create consistent products, they must utilize proper sampling techniques. As I see it, the problem is that many hemp brands are new to the space and don’t necessarily understand the importance of extensive, random selections. So, until we have standardized testing procedures nationwide for end-products, consumers will face varying levels of quality. For now, it’s up to manufacturers to elevate their standards and create high-quality products that inspire brand loyalty. Roger Brown co-founded ACS Laboratory, the first cannabis testing laboratory in Florida. Founded in 2008, ACS Laboratory is a DEA-licensed, AHCA-licensed, ISO17025-accredited and CLIA-accredited laboratory with the largest state-of-the-art testing facility in the eastern U.S. ACS is also approved by the Florida Department of Agriculture as a “Designated Compliance Laboratory” and deemed a "Certified Marijuana Testing Laboratory" by the Florida Department of Health. 
加利福尼亚州奥克兰2021年11月29日电/CNW/--新闻稿--专注于加州的纵向一体化大麻企业Harborside Inc.宣布,已达成最终协议,收购在南加州占据主导地位的加州大麻零售商UL Holdings Inc.(Urbn Leaf)和加州获奖大麻品牌的制造商、种植者和经销商LPF JV Corporation(Loudpack)。交易完成后,Harborside预计将更名为StateHouse Holdings,但须经股东及监管机构批准。 管理层认为,预计将以新的标志进行交易的州议会将是加利福尼亚州最大、最发达的大麻平台,拥有零售、品牌、加工、制造、分销和种植。管理层认为,StateHouse将在目前上市的加州同行中拥有最高的预计年收入和品牌市场份额,为该公司作为加州大麻行业的整合者提供强大的增长平台。截至2021年前九个月,哈博赛德以形式计算,包括升华公司(Sublime)整个期间的收入,美国的总收入为5780万美元,而Urbn Leaf和Loudpack的收入分别为美国4590万美元和美国6140万美元。因此,在形式上,管理层估计StateHouse在同一时期将产生约1.65亿美国美元的总收入。 Urbn Leaf现任首席执行官Ed Schmults预计将于Urbn Leaf交易完成后被任命为StateHouse首席执行官,并将加入StateHouse董事会。Loudpack现任首席执行官马克·拉夫纳(Marc Ravner)预计将在Loudpack交易完成后被任命为StateHouse总裁,并将加入StateHouse董事会。Harborside现任董事长兼临时首席执行官马修·霍金斯(Matthew Hawkins)将继续担任州议会董事会主席。 “自去年重组公司董事会以来,我们的团队开始了一项雄心勃勃的使命,即创建一个独特的平台,能够巩固加州,并通过扩大规模推动显著增长。霍金斯说:”通过这些交易,我们正在努力创建一个西海岸大麻发电站。“优质资产、规模增长和经验丰富的领导组合将为股东带来巨大价值。加州是世界上最大的合法大麻市场之一,预计到2025年销售额将达到美国74亿美元。StateHouse将拥有独特的能力来应对该州的运营挑战,并利用我们正在收购的业务的综合潜力。我们正在建立我们认为是巩固加州大麻行业的理想平台,为我们在市场份额和盈利能力方面的长期增长定位。埃德·施穆尔茨(Ed Schmults)是一名经验丰富的领导人,有着久经考验的零售和大麻记录,是领导州议会走向未来的合适人选。“ 交易是根据Harborside、Urbn Leaf和Loudpack的相对企业价值进行的。交易的总代价将透过发行151,427,786股Harborside(SVS)附属有投票权股份、承担及重组债务及其他责任,以及发行2,000,000份认股权证,行使价为每股SVS美国$2.50。Harborside、Urbn Leaf和Loudpack指出,交易结构和总体考虑既考虑到以加州为重点的大麻公司回归正常化的企业估值,也考虑到州议会成为该市场主要参与者的潜力。根据各方的相对企业价值,于交易完成后,现有Harborside、Loudpack及Urbn Leaf股东将分别拥有约35%、39%及26%的StateHouse股份,按全面摊薄基准及假设Harborside(MVS)所有多股有投票权股份转换为SVS。 就该等交易而言,管理层已与Pelorus Equity Group订立意向书,以完成美国7730万美元的非摊薄性房地产债务融资的房地产融资(定义见下文),该等融资可从StateHouse房地产组合释放大量价值,并为业务提供大量增长资本。详情见下文“同时融资”。 州议会公司亮点 施穆尔茨说:“加州的大麻行业已经达到了一个重要的临界点,凭借这三家公司的集体优势和整合的好处,我们有了资产和技能的正确组合,可以设定一个新的标准,为消费者提供最广泛的产品和一流的客户服务。” 拉夫纳补充说:“我们对这一业务合并的潜力感到兴奋。Loudpack、Harborside和Urbn Leaf的资产高度互补。随着规模和垂直整合的增加,我们预计将成为大麻价值链每个阶段的首要运营商。” 股东预期利益 交易详情 Urbn叶交易 根据有关Urbn Leaf的最终协议条款,Harborside将通过发行约60,000,000股可调整股份及重组及承担债务,收购Urbn Leaf的全部股权。除其他事项外,Urbn Leaf协议订明惯常陈述、保证及契诺,包括互不邀约条款及本公司或Urbn Leaf在某些情况下须支付的美国250万元终止费。Urbn Leaf交易的实施须待Harborside股东以多数票批准及Urbn Leaf股东批准,以及收到若干监管批准,包括此类交易的惯常成交条件。 Urbn Leaf交易已获Urbn Leaf董事会一致通过。董事及高级人员及Urbn Leaf若干股东合共持有约69%系列A股及96%普通股,已订立投票及支持协议,投票赞成Urbn Leaf交易。此外,在Urbn Leaf交易完成的同时,本公司将与Urbn Leaf若干股东就该等股东根据Urbn Leaf交易将收到的港湾SVS订立锁定协议。根据Urbn Leaf锁定协议,Urbn Leaf锁定股东将同意不出售、转让或以其他方式转让所收到的港湾SVS。限制分三次失效,每三分之一股份于Urbn Leaf交易完成后6个月、12个月及18个月周年日解除限制。 扬声器事务 根据Loudpack交易的最终协议条款,Harborside将通过发行约91,427,786张可调整的SV、2,000,000份认股权证以及承担及重组债务,收购Loudpack的全部股权。认股权证将可于交割日起计五年内任何时间行使,以美国每股认股权证2.50美元的价格购买认股权证。如果SVS的成交量加权平均交易价格等于或大于美国5.00美元,Harborside将有权加快认股权证的到期日。 Loudpack协议订明,除其他事项外,惯常的陈述、保证及契约,包括互不邀约条款,以及在某些情况下由本公司或Loudpack任何一方支付的美国500万美元终止费。Loudpack交易之实施须待Harborside股东以多数票批准、SVS之简单多数持有人批准、Loudpack之唯一股东批准、Loudpack之唯一股东之有投票权成员批准及收到若干监管批准,包括但不限于根据Hart-Scott-Rodino反托拉斯法之批准及此性质交易之其他惯常成交条件。 Loudpack交易已获得Loudpack董事会一致通过。Loudpack唯一股东之所有有投票权成员已订立投票及支持协议,投票赞成Loudpack交易。此外,在Loudpack交易完成的同时,本公司将与Loudpack的唯一股东就根据Loudpack交易而接收的港湾SVS订立锁定协议。根据Loudpack锁定协议,Loudpack的唯一股东将同意不出售、转让或以其他方式转让所收到的港湾SVS,但其成员除外,该等成员将被要求订立同等的锁定协议。限制分三次失效,每三分之一股份于Loudpack交易结束后6个月、12个月及18个月周年日解除限制。 条款及细则 于交易完成后,现有Harborside、Loudpack及Urbn Leaf股东将按全面摊薄基准及假设所有MVS转换为SVS分别拥有约35%、39%及26%的StateHouse股权。 如前所述,Loudpack交易及Urbn Leaf交易均需CSE批准及Harborside股东于2022年第一季度举行的股东特别大会上批准。Harborside股东还将被要求在大会上批准,其中包括拟议的公司名称变更。 有关Loudpack交易及Urbn Leaf交易的完整描述将载于Harborside的管理信息通函,该通函将于会议时邮寄给Harborside股东,并以Harborside的个人资料在www.SEDAR.com的电子文件分析及检索系统(SEDAR)上存档。 港湾板批准 Harborside董事会已一致批准该等交易,并已一致决定建议Harborside股东投票赞成该等交易。此外,合共持有Harborside约27%投票权益的Harborside全体董事及执行人员,以及若干股东已表示有意投票赞成Loudpack交易及Urbn Leaf交易。 PI Financial Corp.已向Harborside董事会提供公平意见,认为在各该等公平意见所载假设、限制及资格的规限下,Harborside股东根据交易支付的代价从财务角度而言对Harborside股东是公平的。 关闭 该等交易预计将于2022年上半年完成,但须经港湾股东、CSE批准、监管机构批准及常规完成条件。 并行融资 滚动融资 就该等交易而言,本公司已与Pelorus Equity Group签署合共7,730万元美国债务融资(“累积融资”)的无约束力条款单,该等债务融资将主要用于清退若干现有贷款及向本公司、Urbn Leaf及Loudpack提供额外营运资金。累积融资将包含10.25%的名义利率,以及指定的起始、结算和其他交易费用,并将以该公司、Urbn Leaf和Loudpack的某些房地产资产和大麻许可证作为担保。它还将受制于偿债比率要求、利息准备金、某些跨公司担保和违约、从属协议和债权人间协议,以及公司的一般公司担保。累积融资拟分两期进行,第一期于收购Urbn Leaf及Loudpack完成前进行,第二期于完成后按本公司选择的时间向本公司提供资金。第一部分计划通过三笔单独的贷款提供资金,分别向Urbn Leaf、Loudpack和公司提供一笔贷款。累积融资还将包含条款,以便在第一批资金获得资金的情况下,而本公司未完成对Urbn Leaf和/或Loudpack的收购,本公司不再有义务担保第一批资金中与收购交易有关的未完成收购交易的特定部分。本公司拟于2021年年底前与Pelorus订立最终协议。 Pelorus Equity Group管理合伙人特拉维斯·戈德(Travis Goad)表示:“我们很高兴能够为加州市场如此显著的增长提供资金。”“我们认为合并后的公司在前进的基础上将是一个强大的参与者。这笔贷款是我们新的低成本稳定贷款计划中的首批贷款之一。我们预计,对于拥有现金流资产的大麻运营商来说,这种稳定贷款计划将继续是最好的融资选择,尤其是对于像这样的复杂交易。Pelorus正在不断为大麻房地产市场创新新的融资解决方案。” 财务和法律顾问 ATB Capital Markets Inc.和Stoic-Solidum Advisory担任Harborside的财务顾问。Cassels Brock&Blackwell LLP担任Harborside的加拿大法律顾问,Duane Morris LLP担任Harborside的美国法律顾问。PI Financial就交易向Harborside提供了公平意见。 PGP Capital Advisors,LLC担任Urbn Leaf的财务顾问,Burns&Levinson LLP担任Urbn Leaf的美国法律顾问。 Ducera Partners LLC和Beacon Securities Limited担任Loudpack的财务顾问,Feuerstein Kulick LLP担任Loudpack的美国法律顾问。 电话会议 马特·霍金斯(Matt Hawkins)和埃德·施穆特(Ed Schmults)于2021年11月30日主持了一次电话会议,随后是问答环节。 电话会议日期:2021年11月30日星期二 时间:东部时间上午10点 免费拨入电话:888-664-6392 国际拨入号码:416-764-8659 64&Hope将在南洛杉矶开设其21个计划中的第二个药房。 第二个地点将于12月20日在洛杉矶的梅尔罗斯区向公众开放。 根据公司的一份新闻稿,每个64&Hope业务都由南洛杉矶的社会公平大麻许可证持有者拥有,目标是到2023年夏天开放所有21个地点。 64和希望药房概念以64号提案命名,该提案使加利福尼亚州成人使用大麻合法化,旨在为受禁毒战争影响的人提供经济机会。21个计划中的业务的发展目标是将每个许可证持有者的年收入从46600美元--低于洛杉矶的贫困人口--增加到45万美元以上,同时创造30多个有福利的就业机会。 这些企业的资金来自一系列名人投资者,包括奎恩·拉蒂法、纳斯、特洛伊·卡特、朱利叶斯·欧文三世和安东尼·塞拉,他们总共筹集了1900万美元。 加利福尼亚州圣拉蒙2021年12月7日电/PRNewswire/--新闻稿--为州和地方政府提供云解决方案的Accela宣布,南达科他州卫生部将使用Accela大麻监管生态系统的两个组成部分来监管和支持该州新的医用大麻计划。 继2020年秋季启动的第26号措施通过后,南达科他州上个月开始接受和发放医用大麻的病人和护理人员卡申请。Accela的大麻监管软件应用程序,加上包括Accela的黄金合作伙伴Byrne software Technologies,Inc.在内的专家合作伙伴生态系统,使南达科他州能够轻松处理病人和护理人员卡申请以及商业大麻许可证申请。州官员利用Accela审查所有申请,获得许可的企业和药房可以通过CloudPWR的网络门户轻松识别合格的医用大麻持卡人。 Accela战略解决方案销售副总裁格雷格·费利克斯(Greg Felix)表示:“Accela很高兴与南达科他州卫生部合作,提供成本效益高的技术解决方案,优化工作流程,提高患者和工作人员的易用性,并允许系统灵活性,以满足不断变化的大麻法规。”“我们的现代云平台、预先配置的大麻监管解决方案以及在政府和大麻行业的专业知识,使我们的合作伙伴cloudPWR和Byrne Software Technologies,Inc.在短短35天内完成了大麻业务许可和符合HIPAA HiTrust的患者和供应商注册表安装。由微软Azure驱动的Accela软件也确保了最高级别的系统安全。” “Accela大麻监管解决方案最好地满足了我们的需求,它能够有效地对我们的患者和供应商进行资格认证和识别,对企业进行适当的审查,并在法定期限前快速安装。我们期待着为我们的居民提供简单、快速和合规的体验,”南达科他州卫生部副部长林恩·瓦伦蒂说。 Accela大麻条例减轻了机构在发放大麻种植、加工和零售企业许可证以及医疗病人和提供者管理方面的负担。通过自动化的工作流程、灵活的许可证类型和强大的合规功能,Accela大麻监管使监管机构更加高效和反应迅速。欲了解更多关于Accela平台和解决方案的信息,请访问https://www.accela.com/solutions/。 我们谈了很多大麻和大麻测试的重要性,以及如何阅读分析证书来确定结果。诚然,这些都是创造高质量产品的关键组成部分。但是准确的测试和分析依赖于我们经常没有讨论的前一个步骤--对成品进行抽样。适当的大麻和大麻取样对于确保消费者期望和患者依赖的一致和同质的最终产品至关重要。 我们潜水吧。 随机抽样与最小数量的重要性 与商业大麻产品不同,医用大麻受到高度监管,以保护患者。这意味着大多数州要求获得许可的第三方实验室,如ACS实验室,代表制造商进行采样。此外,在佛罗里达州等州,这意味着实验室只能测试成品或包装完整并准备出售的货架产品。 最重要的是,该州严格的法规要求实验室每批随机选择样本,并以最低数量进行多次选择,以确保他们准确地了解整个批次的产品质量、效力和成分。 以最小数量随机抽样多个产品是精确确定一致性和同质性的关键。一致性确保每克花或油中含有的THC或CBD与之前的克一样多。同质性,或均匀性,确保每一块消耗品,如注入巧克力棒,有均匀数量的四氢大麻酚和CBD贯穿始终。 同质性和效力测试是必要的,因为制造过程不可避免地是不完善的,并可能导致不规范的问题。这种分析确保每一种可烟熏的花卉产品、提取物、饮料和食用品在每一片和每一批中都含有均匀数量的四氢大麻酚和CBD。因此,患者和消费者可以感到自信,他们服用了正确的剂量,每次都得到同样的体验。 但与医用大麻不同,美国大多数州要求成熟市场对成人使用的大麻和大麻进行有限的同质性测试。 大麻抽样问题 大麻领域的问题是,客户通常自己进行采样,不像医用大麻,第三方实验室负责。大麻制造商完全负责准备样本,并通过联邦快递或UPS将其送往实验室。该公司可能会随机发送多个样品,或者他们可能会手工挑选不反映整个批次的理想产品。 如果制造商手工选择样品,或者只是没有发送足够的碎片或毫克用于测试,就很难确定一致性和均一性。这意味着最终用户可能会遭受不可靠产品的后果。 如果有人把一个40毫克的布朗尼切成两半,他们应该期望每块能得到20毫克。但是如果产品不是同质的,那个人可能会在一半的产品中摄入35毫克,而在另一半中只摄入5毫克。大麻素分布不均会造成不良影响,尤其是对以精神活性四氢大麻酚为基础的产品。相反,它也会导致消费者体验到缺乏效果。 当谈到CBD产品时,不一致的剂量意味着人们可能无法获得他们寻求的缓解,并可能完全放弃产品。这些情况可能是危险的、令人失望的,并导致整个行业的不信任。 在实验室,我们不知道制造商在这些不受监管的情况下是如何选择样品的。我们只需使用我们的协议来接收和测试它们。我们对结果很有信心,但结果可能只说明了故事的一部分。理论上,这些样本可能比该批中的剩余产品含有更高或更低的大麻素含量。 在州或联邦监管机构指导此事之前,我们必须依赖透明、可靠和专业的大麻品牌来做正确的事情。 如何进行取样以获得一致和统一的结果 无论我们谈论的是鲜花、食品还是油,我们在ACS实验室收集和测试样本时的目标是确保每一批都有相同的效力水平,并且没有污染物。我们关心花和提取物的一致性,所以我们要求医用大麻花至少30克,或零售批次的至少0.35%,或医用提取物15毫升。对于大麻,我们需要10克的花和10毫克/毫升的提取物(取决于它的形式)来获得一个代表性的样品。 当谈到食物时,我们更进一步来确定样本中每一块的均匀性。为了弄清楚这一点,我们把整个酒吧都匀化。然后我们测试它的效力。 我们要求15克/毫升(取决于它的形式)大麻食品。对于医用大麻食品,我们根据批量确定最低数量。例如,一个100毫克的巧克力棒可能有10块,所以我们测试每一块,以确保它有相同剂量的四氢大麻酚或CBD,并确保所有100毫克都均匀分散。之后,我们取另一个酒吧的三个单独的部分,并分别测试它们。这些单独测试的结果应与最初的均匀性测试密切一致。如果它们不匹配,产品可能不一致。这个过程的第二部分是关键的,需要收集足够的样品来代表整个产品、批次和它的碎片。 确保信任和一致性 积极的消费者体验取决于产品的连续性和同质性。品牌要创造一致的产品,就必须使用适当的抽样技术。在我看来,问题是许多大麻品牌是新的空间,不一定理解广泛的,随机选择的重要性。因此,除非我们在全国范围内对最终产品进行标准化的测试程序,否则消费者将面临不同程度的质量。就目前而言,制造商应该提高他们的标准,创造高质量的产品来激发品牌忠诚度。 罗杰·布朗共同创建了佛罗里达州第一个大麻检测实验室ACS实验室。ACS实验室成立于2008年,是一家获得DEA许可、AHCA许可、ISO17025认证和CLIA认证的实验室,拥有美国东部最大的最先进的测试设施。ACS还被佛罗里达州农业部批准为“指定合规实验室”,并被佛罗里达州卫生部视为“认证大麻测试实验室”。

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