Cannabis Professional’s daily roundup of industry news. View archive here.
Neptune, Canopy Growth amend processing agreement
Neptune Wellness Solutions Inc. said Wednesday it has entered into an amended and restated processing agreement with Canopy Growth Corporation. The parties have agreed to an amended schedule of processing volumes committed to Neptune by Canopy. In addition, the companies say they agreed to remove certain preferential rights previously granted to Canopy with respect to Neptune’s capacity and pricing. Effective June 30, 2020, volume and pricing will be negotiated between the two parties based on market conditions. The three-year term of the agreement remains unchanged and expires on June 30, 2022. Neptune added that it expects to diversify its customer base due to the revised terms with Canopy.
– Staff
Nextleaf Solutions granted two U.S. extraction patents
Nextleaf Solutions Ltd. said Wednesday the United States Patent and Trademark Office has granted the company its sixth U.S. patent pertaining to a proprietary chilled cannabinoid extraction process with downstream media treatment and filtration. Nextleaf also said it has been issued a patent by Columbia’s Superintendency of Industry and Commerce pertaining to the company’s industrial-scale process of extraction, refinement, and distillation of cannabinoids. Nextleaf says its patented technology allows for lower-quality dried cannabis and hemp biomass to be efficiently processed at scale into a high-purity THC and CBD distilled oil.
- Staff
James Wagner signs broker deal with Kindred
James E. Wagner Cultivation Corp. said Wednesday it has entered into a brokerage agreement with Kindred Partners Inc., under which Kindred will serve as the exclusive broker for JWC’s adult use cannabis products in Canada. Kindred, a wholly owned subsidiary of Breakthru Beverage Group, is a specialty brokerage and services company for cannabis products.The company says the agreement also covers JWC’s derivative line of cannabis extract products currently under development and expected to come to market in the first calendar quarter of 2020. JWC says it will continue to market and sell cannabis products to its medical patients as well as directly to other licensed producers, which is outside the scope of the agreement.
- Staff
MJardin Group appoints Patrick Witcher as CEO
MJardin Group Inc. announced Wednesday that it has appointed Patrick Witcher as chief executive officer. Mr. Witcher held the role of MJardin’s chief operations officer for the past year following his term as president of global operations. Previous to this he served as vice-president, strategic partnerships of acquired Canadian cannabis company GrowForce. “Pat’s in-depth knowledge and experience from an operational and compliance perspective, complemented by his leadership skills will benefit MJardin as the Company focuses on its growth objectives,” said Adrian Montgomery, chairman of Toronto- and Denver-based MJardin.
- Staff