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UK: First Wednesdays Still Connecting Europe’s Cannabis Community In The Time Of Pandemic

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First Wednesdays is a network of European investors and entrepreneurs working in the cannabis sector. Founded in London in 2018 by the team behind Hanway Associates, the network has over 3500 members, and regional chapters in Paris and Amsterdam. 

Laurence Busch Hansen, Head of Community at First Wednesdays said:

“We felt it was important to take a closer look at current activity in the UK cannabis ecosystem and how much it has grown since we started 2 years ago. To celebrate the progress the industry has made in those 2 years we have compiled a map of the ecosystem, looking at core segments of the market, and covering unique UK-headquartered companies operating in each market segment.”

The London chapter has seen a huge number of law firms engage with the network, offering services and getting involved in the transactions that are beginning to pick up in speed and size in Europe.

Household legal name, DLA Piper have recently launched a cannabis practice within their global business and have been extremely active since the start of the network in the UK. Dylan Kennet, Senior Associate at DLA Piper’s London office said:

“We as a firm remain bullish that the UK will be a leading player in the medicinal cannabis market.  This optimism is predicated on companies having access to growth capital, both private and public; the former is growing, while the latter remains extremely difficult to procure given what seems to be a reluctance by the major public markets in the UK to list such entities.  Coupled with regulatory hurdles to patient access, there are still some ways to go – but we are still in the beginning phases.”

Alastair Moore, the co-founder of Hanway Associates credits the presence of large legal firms in the UK’s cannabis sector on the professionalism of the early industry actors, the fact a lot of European law firms had North American offices which were exposed to the early industry there, and the high demand for financial and regulatory advice on issues like proceeds of crime (POCA). 

McCarthy Tétrault, one of the leading Canadian law firms, is an example of a transatlantic cannabis legal practice – one that embraced the early cannabis sector in the UK. The team there were involved with Canadian company Auxley and the investment they received from Imperial Brands, a listed British FMCG company, in 2019, that moved the dial on corporate interest in the sector. Rami Chalabi, a partner at McCarthy Tétrault said:

“Access to medical cannabis is largely driven by the regulatory framework adopted in any given jurisdiction. While participation in the UK medical cannabis sector will require patience, the adoption of a cautious, evidence-based approach can be a catalyst for research, innovation and creativity from the private sector, spur regulatory change and better access to cannabis for medical patients. A number of recent positive developments (easing of import restrictions, a pragmatic approach to the regulation of CBD products) should give investors and entrepreneurs reason to be optimistic about the future of the cannabis industry in the UK.”

To download and browse the First Wednesdays map of the UK cannabis ecosystem you can sign up here. Membership is free and the FW team are at hand to help you meet European entrepreneurs and investors.

Source: https://cannabislaw.report/uk-first-wednesdays-still-connecting-europes-cannabis-community-in-the-time-of-pandemic/

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GreenheartCBD Founder Paul Walsh named to the All-Ireland Business All Star List

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Greenheart, the leading licensed Irish sustainable producer, is delighted to announce that company co-founder and visionary Paul Walsh, has received a Thought Leadership award for innovation, technology, and sustainability, from the All-Ireland Business Foundation All-Star Ireland awards.

This prestigious accolade is given to a very small number of leading business innovators and visionaries in Ireland each year. The award follows closely on Greenheart’s own accreditation by the All Ireland Business Foundation. This accreditation is an outstanding achievement and recognizes the hard work and dedication of the Greenheart team in providing the best in class service to all our customers.

Greenheart was founded two years ago in Ashbourne, County Meath, and was formed two years ago by childhood friends Mark Canavan and Paul Walsh. The company produces a full range of sustainable oils – and shortly – edibles and balms for the retail market. Although Greenheart only began selling its oils in January 2020, it already has over 1,500 customers, a customer return rate three times the industry average and over seventy trusted 5-star reviews on its website. 

Before launching Greenheart, Paul and Mark spent years researching extraction methods to produce the most effective agricultural products, for the end consumer with full traceability from seed to shelf. The company is the first sustainable producer in its market to use the full scope of cutting edge technology in its cultivation and production. This includes Big Data, Artificial Intelligence (AI), Machine Learning, and Blockchain technology at each stage of the planting, harvesting, production, and retailing process.

Greenheart Punt Token

The company is launching its own product token on December 1st – the Greenheart Punt – which will trade on the LAToken exchange and allow its stakeholders to access its products at the greatest possible discounts on its new apps platform. 

The Greenheart Punt token is being backed by a real commodity – 1,000 liters of Greenheart’s oil in year 1 (with a retail value of $4 million US dollars) – allowing token holders to redeem their tokens directly for Greenheart oil.
The company also plans to continue deploying pioneering sustainability technology and cold press extraction, while also launching an Innovation Centre to teach farmers and the wilder public about the benefits of growing hemp and sustainable crops in Ireland.


 

Source: Shane Walsh GreenheartCBD.ie

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PAOG CEO Discusses 2020 Progress And PURA Dividend On MoneyTV

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Sandusky, OH – November 25, 2020 – OTC PR WIRE — PAO Group, Inc. (OTC: PAOG) today announced an interview of CEO Jim DiPrima on MoneyTV where Mr. DiPrima discusses the company’s progress in 2020 to include the latest updates on PAOG’s coming one for one dividend of PAOG stock to Puration, Inc. (OTC: PURA) shareholders in conjunction with PAOG’s recent acquisition of PURA’s cannabis cultivation business.

PAOG made two strategic acquisitions this year transitioning the company into the cannabis neurocritical and pharmaceutical markets.  PAOG has recently executed an agreement with a Contract Research Organization (CRO) to advance the company’s hemp derived CBD extract to treat Chronic Obstructive Pulmonary Disorder (COPD) toward an FDA approval.  PAOG is also close to executing a neurocritical development agreement.  In addition to the interview published today, the company anticipates issuing substantial updates on the pharmaceutical and neurocritical developments next week.

MoneyTV is the internationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews with company CEOs and executives, providing insights into their operations and outlooks for their futures. MoneyTV is seen in over 200 million TV households in more than 75 countries.

Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.

The television program can also be viewed online immediately at www.moneytv.net.

www.paogroupinc.com

Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

CONTACT INFORMATION

Contact Us:
Jim DiPrima
888-272-6472
info@pao.group

Source: https://otcprwire.com/paog-ceo-discusses-2020-progress-and-pura-dividend-on-moneytv/

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SPACs are so hot even Jay-Z is partnering with one. He’s set to be the ‘chief visionary officer’ for California’s largest cannabis firm.

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  • Jay-Z is joining the company set to be California’s largest cannabis brand as a “chief visionary officer” as part of a SPAC deal announced on November 24.
  • The special purpose acquisition company, Subversive Capital Acquisition, agreed on the same day to acquire the cannabis brand Caliva and the hemp producer Left Coast Ventures, forming The Parent Company in January, when the deal should close.
  • Jay-Z will help the company with marketing and brand strategies, while Roc Nation artists Rihanna, Yo Gotti, and Meek Mill also invested in the newly formed company via a private placement.
  • Also, Jay-Z will lead The Parent Company Social Equity Ventures, which will seek to invest at least 2% of its net income into BIPOC-owned cannabis businesses and “contribute to the effort to rectify the wrongs of prohibition through initiatives that are working toward meaningful change in the criminal justice system.”
  • 2020 has been a breakout year for SPACs in general, and the cannabis industry is nascent but expanding, with Wall Street banks gradually becoming more involved with cannabis firms.

Billionaire Jay-Z is joining the company set to be California’s largest cannabis brand as a “chief visionary officer” as part of a SPAC deal announced on November 24.

The deal will see a special purpose acquisition company, or SPAC, called Subversive Capital Acquisition Corp., acquiring cannabis brands Caliva and Left Coast Ventures to form The Parent Company, with deal close targeted for January 2021.

The news comes shortly after Jay-Z announced a partnership with Caliva in October that will see him launch his own cannabis line, Monogram, as reported by CNN.

Jay-Z’s Roc Nation announced an exclusive partnership with The Parent Company simultaneous with its formation, while Roc Nation artists Rihanna, Yo Gotti, and Meek Mill also joined as investors in the newly formed company via a private placement.

According to a press release, the Subversive Capital Acquisition Corp already holds about $575 million in cash in trust, meaning The Parent Company is expected to become one of the best-funded cannabis companies in the US. It will combine the revenues of Caliva and Left Coast Ventures to reach $185 million in revenue in 2020, expecting to hit $334 million in 2021.

The Parent Company hopes to reach 90% of all cannabis users in California by 2022. The cannabis market has continued to grow in recent years, with sales in California reaching almost $3 billion last year, per Arcview Market Research and BDS Analytics.

A cannabis SPAC deal with a social advocacy angle

Jay-Z’s work as chief visionary will also have a major social component. The rap mogul will take the helm of the company’s Social Equity Ventures, which has pledged to invest at least 2% of its net income into BIPOC-owned cannabis businesses.

The Social Equity Ventures unit will also “contribute to the effort to rectify the wrongs of prohibition through initiatives that are working toward meaningful change in the criminal justice system,” according to the press release. Initiatives will include bail reform, industry vocational training, job placement, expungement clinics, and Social Equity application support.

“Although we know we can’t fully redeem the injustices created by the ‘war on drugs’, we can help shape a brighter and inclusive future,” Jay-Z said in the press release. “The brands we build will pave a new path forward for a legacy rooted in equity, access, and justice. We’re creating something people can trust and we’re investing in our future, our people, and our communities.”

When reached for comment, Jay-Z referred Business Insider to his comments from the press release.

SPACs are so hot right now, and cannabis keeps heating up

Using SPACs to invest in cannabis companies has become all the rave lately, as extensively reported by Business Insider’s Jeremy Berke.

Several cannabis SPACs have turned into multimillion-dollar juggernauts through deals similar to The Parent Company. In August, Credit Suisse led Silver Spike Capital’s $250 million public offering, and Citigroup’s Canadian branch helped lead the $350 million SPAC public offering of the private equity firm Bespoke Capital, Berke reported.

It’s a bit of an issue from an investment perspective that cannabis is still illegal on a federal level, although states including California have legalized it for recreational use. The cannabis industry could grow into an $80 billion industry by 2030 if it becomes legal under federal law, according to the investment bank Cowen.

This potential increasingly drawing Wall Street establishments such as Goldman Sachs and JPMorgan into assisting cannabis-related SPACs going public in the US and advising their clients on cannabis-related deals, Berke also reported. And now Jay-Z and his Roc Nation superstars are players at the table.

Source: Business Insider – SPACs are so hot even Jay-Z is partnering with one. He’s set to be the ‘chief visionary officer’ for California’s largest cannabis firm.

Source: https://spacfeed.com/spacs-are-so-hot-even-jay-z-is-partnering-with-one-hes-set-to-be-the-chief-visionary-officer-for-californias-largest-cannabis-firm?utm_source=rss&utm_medium=rss&utm_campaign=spacs-are-so-hot-even-jay-z-is-partnering-with-one-hes-set-to-be-the-chief-visionary-officer-for-californias-largest-cannabis-firm

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GREENHEART CBD NAMED IN TOP 3 CBD “PRODUCT OF THE YEAR” AT INAUGURAL CANNAVIST AWARDS

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Greenheart CBD, the leading licensed Irish CBD producer, is delighted to announce that in its very first year of operation, it has been named in the Top 3 CBD Products of the Year by The Cannavist Magazine.

The Cannavist is the leading magazine for the CBD industry in the UK and Ireland. 2020 is the inaugural year for its CBD awards, which covered the full range of CBD related products on the market – from edibles and skincare to tinctures and petcare.
Greenheart CBD was founded two years ago in Ashbourne, County Meath, and was formed two years ago by childhood friends Mark Canavan and Paul Walsh. The company produces a full range of CBD oils – and shortly – edibles and balms to the retail market.

Although Greenheart only began selling its CBD oils in January 2020, it already has over 1,500 customers, a customer return rate three times the industry average and over seventy trusted 5-star reviews on its website. Before launching Greenheart, Paul and Mark spent years researching extraction methods to produce the most effective CBD products, for the end consumer with full traceability from seed to shelf. The company is the first CBD producer to use the full scope of “CBD Tech” in hemp cultivation. This includes Big Data, Artificial Intelligence (AI), Machine Learning, and Blockchain technology at each stage of the planting, harvesting, production, and retailing process.
Greenheart Punt Token

The company is launching its own product token on December 1st – the Greenheart Punt – which will trade on the LAToken exchange and allow its stakeholders to access its products at the greatest possible discounts on its new apps platform.
The Greenheart Punt token is being backed by a real commodity – 1,000 liters of Greenheart’s CBD oil in year 1 (with a retail value of $4 million US dollars) – allowing token holders to redeem their tokens directly for Greenheart CBD oil.

The company also plans to continue deploying pioneering CBD Tech and cold press extraction, while also launching an Innovation Centre to teach farmers and the wilder public about the benefits of growing hemp and sustainable crops in Ireland

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