How The JOBS Act 3.0 should boost Marijuana Investment

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June 14, 2019

How The JOBS Act 3.0 should boost Marijuana Investment

The tsunami has all but ended in a defeat for many investors and companies. There is finally good news. The JOBS Act 3.0

The jobs act 1.0 and 2.0 delivered a disruption to investing and helped propel small businesses into multimillion dollar companies. The great rush of Reg. A and Reg. D and Equity Crowdfunding seems to have all but halted in the last 2 years for many reasons.

Companies were required to only allow investment form verified Accredited Investors. The SEC States An accredited investor is a person that the SEC deems is sophisticated enough to protect themselves in making investment decisions and therefore does not require certain additional protections under certain securities laws. Currently, to be an accredited investor as an individual, you must (1) earn $200,000 (or $300,000 jointly with your spouse) in income over the last 2 years or (2) $1 million in net worth (excluding home value. There was a major downfall in this strategy, many eligible Accredited Investors, especially in the US had not verified their status nor had they been given the right material to understand the investments criteria.

Start Up Companies were busy building and marketing their pitch decks and dealing with all the relevant road shows and right things to say. The companies themselves failed to deliver on then best strategy of all to entice investors, and exit strategy.

Indiegogo, Crowdfunder and Start Engine were co-conspirators in a race to entice companies to list on their platforms they did not divulge to the companies that the main strategy investors seek is exits to IPO, Mergers and Buy Outs.

As with the ICO craze of 2016, many companies made money in marketing and investor relations and many investors did eventually invest only to be dismayed at the lack of forethought in these projects. Over 90% of the ICOs from 2016 are now gone with millions being lost across the board.

While, the JOBS Act gave investors a new avenue and helped companies to deliver an alternative investing vehicle, the accredited investors, were this time left holding the bag. As more companies were being listed the pool of investors got smaller and less tolerant of mistakes.

In 2014 – 2016 every start up company was the “Uber of ” or was “disrupting some form of economy”, the vast majority of those companies too have run out of funds, or never reached market with their product, even after there was a sizable investment from the members of the equity crowdfunding platforms.

WHAT DOES JOBS ACT 3.0 MEAN FOR COMPANIES?

The JOBS Act 3.0 should be the game changer. This should finally open the doors to investment like never before allowing investors to be accredited by their experience rather than their wealth.

It is now on the companies themselves to deliver solid growth plans and solid ideas. They should have a good team on board who are more than just friends from school and college. The companies need guidance by seasoned personnel, rather than giving titles out to anyone in the room based on their needs.

The lack of quality education on Equity Crowdfunding and investing is still astonishing in today’s digital age where many 16 year olds had Youtube channels devoted to Crypto.

WHAT IS IN THE FUTURE FOR JOBS ACT 3.0 AND INVESTORS

The JOBS Act 3.0 gives many updates and addendums to the previous 2 JOBS Acts.

The Launch of Venture Exchange is one of the more ambitious and lofty elements, this will no doubt lead to a rush venture exchanges being brought to market. It stands to reason, that companies with 10,000 shares should not be regulated equally to those with 10 million shares. The Act 3.0 would allow for the registration of “venture exchanges” with the SEC to provide a venue for small and emerging companies and offer a platform to trade their securities. It would also permit the trading of venture securities, which would apply to early stage companies whose shares are Regulation A+ securities, as well as listed companies whose shares are below the average daily trade volume. The creation of venture exchanges would help even the playing field such that small and startup companies could attract investors.

HOW WILL THIS JOBS ACT 3.0 IMPACT MARIJUANA COMPANIES?

Marijauana and Cannabis companies should be able to utilize some of the many relaxed rules including the rules for filing confidential IPOs. The current rules permit “an emerging growth company” or any person authorized to act on its behalf file confidentially. The Act 3.0 proposes to change the wording to “an issuer” or any person authorized to act on its behalf. This would widen the pool of companies able to explore confidential filings.

JOBS ACT 3.0 EASING OF REGULATORY BURDENS

The fourth objective of JOBS Act 3.0 is to reduce the economic costs of going public by relaxing the requirements for companies to produce quarterly financial reports. On average, initial regulatory compliance costs more than $1 million in one-time costs associated with an IPO. The Act 3.0 directs the SEC to analyze the costs and benefits of quarterly reports and provide recommendations to Congress for decreasing costs, increasing transparency, and increasing efficiency of quarterly financial reporting. The aim is to allow smaller companies to delay various financial reporting requirements. These tactics would enable more companies to secure an IPO by allowing them to spread the cost over a longer period of time, thus reducing the financial burden of going public.

The Marijuana Industry should be rejoicing and hoping to capitalize on these relaxed regulations along with the recent victory and landmark legalization of marijuana in Illinois just last week. Marijuana, Cannabis and CBD companies now have better access to a larger pool of investors , with less regulation at a critical time for the Cannabis markets.

Accredited Investors can now come for a new class in the investor pool and be self directed. This will help deliver a huge influx of investors into the market and so long as companies have a clear path to exit and solid team this is a win for all.

MARIJUANA INVESTORS SHOULD NOW START LINING UP THEIR PORTFOLIOS FOR 2019-2021

The new acceptance of investment in Cannabis and Marijuana markets as legitimate, of not federally legal yet, is a huge boost for famers, growers and research scientists interested in releasing new medical treatments for Cancer, Addiction, Mood disorders and pain relief.

As more states legalize both in medical marijuana and recreational marijuana use, the older propaganda is not able to out do the merits and positive reports especially from the medical marijuana and CBD research camps.

The older “Reefer Madness” days are slowly fading away as more scientific research points to the legitimate use of these plants and their extracts beyond rolling joints.

Opioid manufacturer Insys files for bankruptcy after $225m settlement

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June 10, 2019

Opioid manufacturer Insys files for bankruptcy after $225m settlement

A leading drug maker, whose founder and top executives have been convicted of bribing doctors to prescribe a highly addictive painkiller, has become the first opioid manufacturer to declare bankruptcy after being hit with huge fines.

On Monday, Insys Therapeutics filed for Chapter 11 bankruptcy protection while it sells off its assets after reaching a $225m settlement with the justice department last week over fraud charges. One of the company’s subsidiaries pleaded guilty to five counts of mail fraud as part of the settlement.

Insys’s founder, John Kapoor, and four former executives are facing lengthy prison sentences after they were convicted last month of bribing doctors to prescribe the company’s opioid spray, Subsys, to patients who did not need it. Subsys is made of fentanyl, an opioid many times stronger than morphine, and was approved for terminal cancer patients. But the company targeted sales at the much larger and more profitable market of people with non-life-threatening chronic pain.

Kapoor oversaw a marketing strategy in which payments to doctors ostensibly for speeches at educational seminars were effectively bribes to prescribe the drug. Prosecutors said the seminars were no more than social gatherings at restaurants, bars and strip clubs.

In one instance, the company paid nearly $260,000 to two New York doctors who wrote more than $6m worth of Subsys prescriptions in 2014. Sales of Subsys surged into the hundreds of millions of dollars a year as a result of the company’s aggressive marketing.

The US attorney in Boston who prosecuted Insys, Andrew Lelling, accused the company of “illegal conduct that prioritised its profits over the health of thousands of patients” and of “fuelling the opioid epidemic”.

Before the agreement with the justice department, Insys was facing large legal bills as it fought hundreds of lawsuits alongside other companies accused of fuelling an epidemic that has claimed more than 400,000 lives over the past two decades. They include Purdue Pharma, the maker of the powerful opioid, OxyContin, which kickstarted the crisis.

The multinational drug giant, Johnson & Johnson, is in the midst of a civil trial in Oklahoma where it has been accused of “a cynical, deceitful multimillion-dollar brainwashing campaign” to drive up sales of its powerful painkillers.

Oklahoma’s attorney general, Mike Hunter, said greed led the company to play a leading role in “the worst manmade health crisis in the history of the country and the state”. Oklahoma is seeking billions of dollars in compensation to help cover the long-term consequences of the opioid epidemic in the state.

A statement by the lead counsels in the combined legal cases of more than 1,800 states, cities and other communities seeking billions of dollars in compensation from 22 opioid manufacturers, distributors and pharmacies, said they would continue to pursue the legal action against Insys to recover the costs of the epidemic on public finances, from increased crime to addiction treatment and care for orphaned children.

“Bankruptcy and restructuring does not necessarily mean that a company is insolvent. Additionally, the goal of the litigation is not to bankrupt these opioid companies, but to abate the current opioid epidemic and seek long-term, sustainable solutions. If any defendant files for bankruptcy, we will work through all legal avenues to see that our clients’ end goal of abating the crisis is met,” they said. “The American public deserves to see the truth behind this epidemic revealed and justice served.”

Dip in Shares of Aurora Cannabis Creates an Opportunity

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June 5, 2019

Dip in Shares of Aurora Cannabis Creates an Opportunity

Investors should brace for the steady decline in cannabis stocks to continue in the near term. So long as stock markets decline, fueled by trade tensions between the U.S. and China, markets will have little appetite for risk. Those include companies that are spending to expand but are not yet profitable yet. The FDA’s public hearing on Friday about CBD safety is unnerving investors, too. With that in mind, cannabis play Aurora Cannabis (NASDAQ:ACB) stock is especially vulnerable for a further drop.

Aurora Cannabis reported a big loss in its fiscal third quarter despite revenue tripling over last year’s levels.

Aurora reported revenue of $48.4 million in the third quarter, up 289% from last year. It lost 8 cents a share even though the cost to produce fell sharply, from $1.92 to $1.42 a gram. Aurora Sky coming online lifted operational efficiency and scale. Still, investors might want to wait for the company to report positive EBITDA results before taking too big a position in Aurora stock.

Getting to EBITDA-positive numbers will depend on net selling prices holding above at least the $6 level. In Q3, the average net selling price fell to $6.40, due to a higher mix of dried cannabis sales in the product mix. Excise tax on medical cannabis also hurt prices as Aurora absorbed this cost. Revenue from extracts fell, hurting ASP. Looking ahead, when extraction capacity increases, extract sales will increase and will lift ASP.

Aurora forecasts EBITDA-positive numbers for the fourth quarter as it puts its inventory into new products. Its stock price is trending downward today but could quickly reverse if the company’s sales drive EBITDA profitability next quarter.

Aurora Cannabis Increasing Production

Aurora forecasts annual production capacity of 100,000 kilograms in 2019 and 150,000 kilograms by the first quarter of FY 2020. Output volumes will benefit from the Bradford and Sky facilities coming online to increase production.

Aurora and the other cannabis producers will continue to benefit from targeting the under-served, under-supplied Canadian market. With very strong demand in the country, Aurora may grow market share faster than competitors the sooner its facilities produce more product.

Aurora’s addressable market could potentially grow in an instant. This would depend on regulatory changes and coverage. Just as its addressable market increased following cannabis legalization in Canada, the same could happen in Europe. For example, insurance reimbursement approvals in Europe would give the industry 850,000 potential patients.

Sell-Off Creates a Buying Opportunity

In the near-term, Aurora will trade like a wild speculation because it does not have any profits yet. With the ~14% drop in the stock price in the last week and an 18.5% drop in the last month, traders who missed the rally may look at ACB stock again. After closing recently at $7.16, the stock’s accelerating downtrend could send shares back to the $5-$6 level, its lows for 2019. At that level, traders could start another position and hold the stock. By waiting for the company to increase production to meet the strong demand, a smaller loss or a break-even quarter could spark a stock rally.

Six of the seven analysts covering Aurora Cannabis have a “buy” rating on the stock and a $9.18 price target (per Tipranks). In a 5-year DCF Growth Exit Model, the company needs revenue growing by at least 100% annually to justify a fair value of between its $7.16 stock price and $8.50.

Your Takeaway for CGC Stock

Cannabis legalization will no doubt continue worldwide, creating a bigger addressable market for cannabis suppliers. In the short-term, the stock price of companies like Aurora Cannabis is prone to a sell-off. It could also spike higher when market fears subside. Timing either event is impossible.

If an accredited investor wants exposure to the cannabis stock sector, check MMJ Fund

Facebook FTC Buzz Sparks Unusual Options Volume

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June 5, 2019

Facebook FTC Buzz Sparks Unusual Options Volume

Alphabet (GOOGL) sent the broader tech sector reeling out of the gate on news the Department of Justice (DoJ) is considering an antitrust probe into the search engine giant. Losses have only accelerated for fellow FAANG stock Facebook, Inc. (NASDAQ:FB), after a Wall Street Journal report indicated the Federal Trade Commission (FTC) secured the right to lead antitrust investigations into the social media firm as part of a broader deal that allows the DoJ to head the Google inquiry.

At last check, FB stock was down 7.2% at $164.75 — set for its worst day since Dec. 19 — and options traders are in overdrive. With about 90 minutes left in today’s trading, around 372,000 calls and 220,000 puts have been exchanged, four times what’s typically seen at this point in the session. Plus, Facebook’s 30-day implied volatility has spiked 20.5% to 35.5%, which registers in the 98th annual percentile.

The weekly 6/7 175-strike call is most active, and Trade-Alert suggests some buy-to-open activity is occurring here. The volume-weighted average price on these calls was most recently seen at $0.94, which would make breakeven for the call buyers at the close this Friday, June 7 — when the weekly options series expires — $175.94 (strike plus premium paid).

Today’s call-skewed session is nothing new for Facebook options traders, though. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock’s 10-day call/put volume ratio of 2.08 ranks in the 76th percentile of its 52-week range, meaning calls have been bought to open over puts at an accelerated clip.

The optimism is seen outside of the options pits, too. While 31 of 36 analysts maintain a “buy” or better rating, the average 12-month price target of $222.35 is a 35% premium to current trading levels. This leaves the door open for a round of bear notes to come through, should FB stock continue its recent slide.

In fact, Facebook stock is now down 17% from its late-April peak above $198, trading below the $500 billion market cap level. But while the shares are on track to close below their 120-day moving average for the first time since before a late-January bull gap, they have found a foothold atop their 200-day trendline.

Marijuana will be Legal in Illinois

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June 3, 2019

Marijuana Set to become Legal in Illinois

On Friday, Illinois lawmakers approved recreational marijuana legalization. This delivers another huge step in nationwide recreational legalization in one of the biggest markets in the US.

Marijuana Investors will see another huge market open in 2020, helping build momentum in the Cannabis Markets. Illinois will set another new bar for nationwide legalization of Marijuana.

The highly contention debate in Springfield which included one lawmaker cracking eggs into a frying pan to depict “brain on drugs” was a victory in favor of recreational legalization on Jan 1^st 2020 by a 66-47 vote by the House of Representatives.

The Gov of Illinois J.B. Pritzker plans to sign the bill into law. Illinois will become the 11^th stated to legalize cannabis and the first state which a legislature approved commercial sales. Vermont has previously legalized possession, but, as of yet not commercial sales.

The general argument of opponents was of more addictions, mental impairment, and drugged-driving deaths, while the proponents spoke of a need to end the failed was on drugs.

Marijuana legalization is expected to generate much need revenue in the coming budget to help rebuild poverty and crime ridden communities and help fund substance abuse, mental health and law enforcement services.

“This will have a transformational impact on our state, creating opportunity in the communities that need it most and giving so many a second chance,” Pritzker said in a statement.

A detailed 610 page bill, delivers how marijuana and cannabis is meant to be taxed and regulated similar to current alcohol, with rules on affecting its use.

Here are some answers from the Legislature in Illinois on Cannabis and Marijuana legalization:

WHO CAN GROW MARIJUANA?

Only 20 existing licensed Medical Marijuana cultivation facilities will be licensed to grow Marijuana initially. Next year, craft grower may apply for licensed cultivation up to 5,000sq ft, with a preference to applicants in minority areas disproportionally affected by the drug war. This will be focused on the South and West Side of Chicago. Medical Cannabis patients will be allowed to grow up to five plants each at home.

WHO CAN BUY MARIJUANA IN ILLINOIS?

Illinois residents age 21 and over may possess up to 30 grams or about 1 ounce of flower (roughly as much as an adult can hold in cupped hands), 5 grams of cannabis concentrate or 500 milligrams of THC – the chemical that gets users high – in cannabis infused products such as gummies, and other candies, tinctures and lotions. Adult visitors to the state may possess 15 grams of marijuana.

WHO CAN BAN IT?

Municipalities and counties may ban cannabis and marijuana businesses within their boundaries, but may not ban individual possession. Any person, business or landlord may prohibit use on private property. Colleges and universities may continue to ban marijuana use.

WHERE IS CONSUMPTION PROHIBITED?

Marijuana use in Illinois will be prohibited in any public place like street or park, on school grounds (except for medical use) , in any motor vehicle, in any correctional facility, near someone under 21 years of age, while driving boat or flying plane. It is OK to use at home, as long as outsiders cant see it.

HOW DOES IT AFFECT CRIMINAL RECORDS?

The governor will pardon past convictions for possession of up to 30 grams, with the attorney general going to court to expunge or delete public records of a conviction or arrest. For possession of 30 – 500 grams, an individual or state’s attorney may petition the court to vacate and expunge the conviction.

HOW WILL MARIJUANA BE TAXED IN ILLINOIS?

Sales will be taxed at 10 percent for THC levels at or less than 35 percent; 20 percent for cannabis-infused products such as edibles; and 25 percent for THC concentrations of more than 35%. That’s in addition to standard state and local sales taxes. Municipalities may add special taxes of up to 3%, counties may add up to 3.75% in unincorporated areas, and Cook County may add up to 3% in municipalities.

Ignite International Brands Raises $25.8 Million Selling Shares at $1.50

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May 28, 2019

Ignite International Brands Raises $25.8 Million Selling Shares at $1.50

Ignite International Brands Announces Closing of Previously Announced Subscription Receipt Financing for Gross Proceeds of $25,800,000

VAUGHAN, Ontario, May 24, 2019 (GLOBE NEWSWIRE) — Ignite International Brands, Ltd. (the “Company”) today announces that 1203238 B.C. Ltd. (“Finco”) completed a non-brokered offering (the “Offering”) of 17,200,000 subscription receipts (the “Subscription Receipts”) at a price of $1.50 per Subscription Receipt for gross proceeds of $25,800,000 (the “Offering Proceeds”). The Offering was completed in conjunction with the reverse takeover (the “Transaction”) of the Company to be completed by the shareholders (“Ignite US Shareholders”) of Ignite International, Ltd. (“Ignite US”), other than the Company, pursuant to the terms of a business combination agreement among the Company, 1203243 B.C. Ltd., Finco, Ignite US and the Ignite US Shareholders dated as of April 9, 2019, as amended as of May 6, 2019, as announced by the Company on March 1, 2019 and April 11, 2019. Following closing of the Transaction, the issuer resulting from the Transaction (the “Resulting Issuer”) is expected to continue under the name “Ignite International Brands, Ltd.” with the subordinate voting shares of the Resulting Issuer (the “Resulting Issuer Shares”) listed for trading (the “Listing”) on the Canadian Securities Exchange.

The Subscription Receipts were issued pursuant to the terms of a subscription receipt agreement (the “Subscription Receipt Agreement”) dated as of May 24, 2019 (the “Closing Date”) among Finco, Cordell Consultants, Inc., as representative of the holders of Subscription Receipts and Odyssey Trust Company (the “Subscription Receipt Agent”) as subscription receipt agent. Pursuant to the terms of the Subscription Receipt Agreement, the Offering Proceeds, together with all interest and other income earned thereon (the “Escrowed Funds”), will be held in escrow and will be released to Finco upon satisfaction of the Escrow Release Conditions (as defined herein). Upon satisfaction of the Escrow Release Conditions, each Subscription Receipt will automatically be converted into one common share of Finco (each, an “Underlying Share”) and immediately converted into one Resulting Issuer Share. The escrow release conditions (the “Escrow Release Conditions”) are:

written confirmation from each of Ignite US and the Company that all conditions to the completion of the Transaction have been satisfied or waived, other than the release of the Escrowed Funds and the closing of the Transaction, each of which will be completed forthwith upon release of the Escrowed Funds;
the distribution of: (i) the Underlying Shares, and (ii) the Resulting Issuer Shares to be issued in exchange for the Underlying Shares pursuant to the Transaction being exempt from applicable prospectus and registration requirements of applicable securities laws in Canada and the United States;
the Listing being conditionally approved and the completion, satisfaction or waiver of all conditions precedent to such Listing, other than the release of the Escrowed Funds;
the receipt of all required shareholder and regulatory approvals; and
the delivery of a joint written notice from Ignite US and the Company to the Subscription Receipt Agent confirming the conditions set forth in (a) through (d) above having been satisfied or waived.

The Escrow Release Conditions must be satisfied on or before September 20, 2019 (the “Escrow Release Deadline”) unless extended in accordance with the terms of the Subscription Receipt Agreement. In the event that the Escrow Release Conditions are not satisfied or waived on or before the Escrow Release Deadline, or if Finco advises Ignite US and the Company or announces it does not intend to satisfy the Escrow Release Conditions prior to the Escrow Release Deadline, the Escrowed Funds will be returned to the holders of the Subscription Receipts on a pro rata basis and the Subscription Receipts will be cancelled without any further action. It is currently contemplated that the Escrow Release Conditions will be satisfied by May 30, 2019.

The net proceeds from the Offering will be used by the Resulting Issuer for working capital and general corporate purposes.

For further information, please contact:

Eddie Mattei
Tel: (905) 669-0623
Email: eddie@ignite.co

Original press release

Gotham Green Completes Initial $100 Million Tranche of the MedMen Secured Convertible Loan

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May 28, 2019

Gotham Green Completes Initial $100 Million Tranche of the MedMen Secured Convertible Loan

MedMen and Gotham Green Partners Close Additional Funding Tranche – Designated News Release

LOS ANGELES, May 23, 2019–(BUSINESS WIRE)–MedMen Enterprises Inc. (CSE:MMEN) (OTCQX:MMNFF) (FSE: A2JM6N) (“MedMen” or the “Company”) is pleased to announce that, further to its press release dated April 23, 2019, MedMen has been advanced an additional US$80,000,000 in gross proceeds pursuant to the US$250,000,000 secured convertible credit facility (the “Facility”) with Gotham Green Partners, an investor in the global cannabis industry.

MedMen has issued to the lenders additional convertible senior secured notes (“Notes”), co-issued by the Company and MM CAN USA, Inc., a subsidiary of the Company (“MM CAN”), with a conversion price per Subordinate Voting Share of the Company equal to US$3.29 per share. The lenders have also been issued 10,399,851 share purchase warrants of the Company (“Warrants”), each of which is exercisable to purchase one Subordinate Voting Share of the Company for a period of 36 months from the date of issue. The number of Warrants issued represents an approximate 50% Warrant coverage. The exercise price of 75% of such Warrants is US$3.718 per share, with the remaining 25% of such Warrants having an exercise price per share equal to US$4.29. As additional consideration for the purchase of the Notes, at the time the lenders were paid an advance fee of 1.5% of the principal amount of the Notes purchased.

The Notes and the Warrants, and any Subordinate Voting Shares issuable as a result of conversion of the Notes or exercise of the Warrants, will be subject to a four month hold period from the date of issuance of such Notes or such Warrants, as applicable, in accordance with applicable Canadian securities laws.

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 jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States 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 of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About MedMen:

MedMen is a cannabis retailer with operations across the U.S. and flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission is to provide an unparalleled experience that invites the world to discover the remarkable benefits of cannabis because a world where cannabis is legal and regulated is a safer, healthier and happier world. Learn more at www.medmen.com.

About Gotham Green Partners:

Gotham Green Partners, LLC is a New York and California-based private equity firm focused on deploying capital into cannabis and cannabis-related enterprises on a global scale. The firm manages a diversified portfolio of investments and is actively investing across the cannabis value chain.

Landmark RATULS Research Trial of Robot-Assisted Stroke Therapy

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May 28, 2019

Landmark RATULS Research Trial of Robot-Assisted Stroke Therapy Utilizes BIONIK’s InMotion Robotic Therapy Systems

BIONIK Laboratories Corp. (OTCQB: BNKL) (“BIONIK” or the “Company”), a robotics company focused on providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges from hospital to home, today announced the completion of a landmark Robot Assisted Training for the Upper Limb after Stroke (RATULS) trial utilizing the Company’s InMotion Robotic Therapy Systems.

Results of the RATULS trial were presented at the European Stroke Organisation Conference (ESOC) in Milan, Italy on May 22, 2019 and published in the Lancet Online Journal on the same day. The study’s purpose was to compare clinical effectiveness of robot assisted training, enhanced upper limb therapy, and usual care for patients with moderate or severe upper limb functional limitation. The RATULS trial began in 2014 and was completed end of 2018.

“We are pleased that the RATULS trial confirmed the finding of previous research studies which demonstrated that robot-assisted therapy improved upper limb impairment when compared with conventional care methods for stroke victims. The trial’s finding that robotic therapy is the only therapy to statistically maintain a significant impairment advantage at six months after treatment is a strong signal that robotic therapy is critical for achieving positive patient outcomes,” said Dr. Eric Dusseux, CEO, BIONIK Laboratories. “BIONIK’s InMotion Robotic Therapy Systems have been selected for some of the largest interventional research studies over the past 10 years, including the Veterans Affairs Robotics Trial which confirmed robot-assisted therapy improvement in upper limb impairment using the Fugl-Meyer Assessment (FMA), a stroke-specific, performance-based impairment index. In the VA study, the impairment advantage achieved through robot-assisted therapy translated into significant upper limb function improvements using the Wolf Motor Function Test.”

For the RATULS trial, the primary outcome for upper limb success was determined by Action Research Arm Test (ARAT), with four distinct success criteria that varied according to baseline severity, not used previously and developed by the RATULS trial team. Although the findings demonstrated that robot-assisted therapy improved upper limb impairment, using this ARAT measurement, the trial was unable to conclude that robot-assisted therapy or enhanced upper limb therapy resulted in improved upper limb functionality after stroke compared with usual care provided to patients with stroke-related upper limb functional limitation. The attrition rate was also drastically reduced in patient population following either robotic therapy or enhanced upper limb therapy versus usual care only, and most of the withdrawals before 3 months in usual care were due to disappointment with treatment allocation.

BIONIK recognizes the difficulty of creating a level playing field for comparing technology-assisted therapy to conventional methods and commends Professor Helen Rogers and her UK research team for their diligent undertaking and extensive study of 770 patients over a four-year time period.

“We appreciate the ongoing medical study of innovative technology designed to improve patient recovery from stroke. We are also grateful for the extensive feedback provided by patients and clinical practitioners over the past three years as we have actively researched and developed improved capabilities for our robotic rehabilitation systems,” said Dr. Dusseux. “The combination of evidenced-based medicine and real-world clinical feedback have led to the release of substantially improved versions of the InMotion ARM^TM Robotic Therapy System announced in early 2018, and the InMotion ARM/HAND^TM Robotic Therapy System announced beginning of 2019. These versions of our products include enhanced software applications with patient-centric configurable protocols to assist the therapist in providing specialized treatment of stroke and traumatic brain injury. BIONIK looks forward to providing the most advanced solutions to allow clinicians to develop the appropriate rehabilitation methods to address upper limb impairment and reduced arm function. We have seen robotic therapy utilized effectively due to its inherent repeatability and predictability which facilitates the standardization of treatment protocols and consistent measurement of patient progress, another great way to reinforce the patient’s motivation.”

BIONIK’s InMotion Robotic Systems have now been utilized in two of the largest interventional trials completed for upper limb evaluation in the past 10 years. The Company’s robotic-assisted rehabilitation technologies were previously utilized in a trial led by the Providence Veteran Affairs Medical Center, involving 127 patients with moderate-to-severe upper-limb impairments six months or more after stroke. The results of that study were published in The New England Journal of Medicine in April of 2010.

To read the complete RATULS study, please visit the Lancet Online Journal.

About BIONIK Laboratories Corp.

BIONIK Laboratories is a robotics company focused on providing rehabilitation and mobility solutions to individuals with neurological and mobility challenges from hospital to home. The Company has a portfolio of products focused on upper and lower extremity rehabilitation for stroke and other mobility-impaired patients, including three products on the market and four products in varying stages of development.

For more information, please visit www.BIONIKlabs.com and connect with us on Twitter, LinkedIn, and Facebook.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of human exoskeletons and other robotic rehabilitation products, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, pipeline of potential sales, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the market and projected market for our existing and planned products and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances, and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions, and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of our products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, volatility in the price of the Company’s raw materials, and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC. The Company does not undertake to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190528005146/en/

KaratGold Coin (KBC) – Gold Meets Cryptocurrency

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May 28, 2019

KaratGold Coin (KBC) – Gold Meets Cryptocurrency

When it comes to the value of cryptocurrency, the industry has many true believers and many skeptics. On the one hand, we’ve got analysts who swear that Bitcoin is going to go to $100,000 any day now. On the other hand, we’ve got revered pundits like Warren Buffett who seem sure that this is a doomed industry built on nothing more than fairy dust.

It’s true, Bitcoin is an investment with value based on nothing more than limited supply and popular demand. Yet, there are other approaches to cryptocurrency value. There is a new class of cryptocurrency which is linked to real world assets and objects. These asset-linked tokens have the same value as their physical counterparts. There is no clearer example of this phenomenon than a cryptocurrency called KaratGold Coin(KBC).

KaratGold Coin hit the market in February 2018. Even though the ICO market of 2017 had cooled off by early 2018, the KaratGold Coin ICO was in demand, bringing in $100 million. So why was KaratGold Coin successful at a time when so many other ICOs were failing? This success was due to the long-established company that was responsible for the ICO: Karatbars International.

Karatbars International was founded in 2011 by gold entrepreneur Dr. Harald Seiz, who wanted not just to sell gold, but to facilitate methods by which gold could more practically be used as a medium of exchange. Gold is perhaps the world’s oldest form of money, but it’s notoriously tricky to use as cash these days. Retailers simply aren’t equipped to accept gold, so even though gold retains and gains value over time, it can be time-consuming and costly to liquidate.

This is where KaratGold Coin comes into the equation. KBC has all of the earmarks of a classic cryptocurrency. It is instantly transferable to any recipient in the world. It’s secure and fraud-proof. However, KaratGold Coin has a set value relationship with CashGold, which are physical bills for which KaratGold Coins can be exchanged. The coin’s circulating supply is also linked to the CashGold reserves. With CashGold Karatbars presents a gold-as-money approach, with tiny bars of gold built into physical bills (just like Dollars or Euros).

KaratGold Coin also derives value for its utility within the IMpulse K1 Phone, a smartphone which will not transmit calls and text messages through conventional ways, but instead, the phone will encrypt and broadcast calls and text messages by a newly created Voice Over Blockchain Protocol (VOBP). Thus, users benefit from a revolutionary security standard to protect from third parties monitoring user’s actions, as the VOBP uses peer-to-peer encryption that cannot be hacked or manipulated in the current state of the art.

On July 4, 2019, holders of KBC will be able to trade their coins for their equivalent value in CashGold notes at ATMs as a part of Karatbars International’s marketing campaign, the Gold Independence Days. This means that owning KBC is the same thing as owning gold, without the hazards of storage, transfer, and liquidity.

All of this has made KaratGold Coin remarkably stable, even as Bitcoin and the altcoins have demonstrated their typical volatility. We’re not saying that the Bitcoin model is broken, or that cryptocurrency as an industry is doomed. But anyone who has invested in crypto will be excited to know that they can finally own a digital asset that’s linked to the advantages of real gold.

This makes it easier than ever to own gold, and more convenient to use and spend gold (especially through K-Merchant, the KaratGold Coin product that lets it be spent through online retailers). Bitcoin has been called “Digital Gold” in the past, but KaratGold Coin seems to have the better claim to that moniker.

MJardin Announces Construction Completion of its 3rd Canadian Cultivation Facility

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Administrator

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May 28, 2019

MJardin Announces Construction Completion of its 3rd Canadian Cultivation Facility

Submits Evidence of Readiness (EOR) Package to Health Canada

TORONTO and DENVER, May 28, 2019 (GLOBE NEWSWIRE) — MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, announced today that it has completed construction of “GRO”, an indoor cannabis cultivation facility located in Dunnville, Ontario and has submitted its Evidence of Readiness package to Health Canada. The facility is a joint-venture between MJardin Group (75%) and Grand River Organics (25%).

The 11,000 square foot facility is estimated to produce 1,260 kg of premium flower and 454 kg of trim for a total of 1,714 kg of product per year and is expected to reach full production capacity in Q3 2019. “GRO” houses five compartmentalized flower rooms of equal size with seven benches per room to assist with consistency in growth and allow for product replication regardless of what room it is grown in. The facility is equipped with optimal HVAC and fertigation systems that will ensure workflow efficacy and consistency in cultivation of product.

“We are proud of the progress we have made at our GRO facility and are thrilled to be a part of the Dunnville community,” noted Eric Gattoni, SVP, Operations. “We look forward to the next stage of the Health Canada process and getting closer to producing our proven high yield premium cannabis for the Canadian market.”

“GRO” is MJardin’s third Canadian cannabis cultivation facility to complete construction and second in Ontario as it joins “WILL”, a 32,800 square foot cultivation facility in Brampton that was awarded its sales license in December 2018. WILL reported yield numbers last month that surpassed the Company’s average benchmarks over its last ten years of experience.

The Company expects to receive its cultivation license for the GRO facility by late Summer 2019.

About MJardin Group

MJardin is a cannabis management platform with extensive experience in cultivation, processing, distribution and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. MJardin is based in Denver, Colorado and Toronto, Canada. For more information, please visit www.mjardin.com.

The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information

This news release contains forward-looking information based on current expectations. Statements about, among other things, future developments and the business and operations of MJardin, our production capacity, our production results, trading of MJardin’s shares on the OTCQX Best Market, the receipt of any pending regulatory approvals or licenses, the growth of our global footprint and our intentions to leverage our scale for continued organic growth and to pursue strategic investments are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: our ability to identify and pursue growth, financing and other strategic objectives, and the regulatory and economic environments in the jurisdictions we operate or intend to operate or investment in. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that the proposed acquisition will occur and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. MJardin assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

INVESTOR CONTACT:
Ali Mahdavi	Chris Seto
Capital Markets & Investor Relations	Chief Financial Officer
416-962-3300	647-242-0615
Ali.mahdavi@MJardin.com	Chris.Seto@Mjardin.com