Here are the top pot stories to close the week.
An IPO
U.S.-based PalliaTech, Inc. announced an agreement to
acquire Lead Ventures Inc. (CSE: LEAD)(OTC:LDVTF), a junior mineral exploration company, and subsequently list on
the Canadian Securities Exchange. Lead will receive post-consolidated shares worth C$2.16 million.
The subsumed company will also reclassify and consolidate outstanding common shares and replace all directors and officers with
PalliaTech nominees. Its stock will remain halted until regulatory authorities have accepted all merger filings.
A New Market
The United Kingdom will legalize cannabis-derived prescription therapies for patients with “exceptional clinical need” by this
fall, according to the BBC.
The matter requires legislative change to reclassify cannabis from a Schedule 1 drug to a Schedule 2 drug, after which point the
market will expand in England, Scotland, Wales and Northern Ireland. In the meantime, clinicians can apply to the Home Office
Expert Panel to prescribe cannabis-based treatments.
Home Secretary Sajid Javid clarified that the change “is in no way a first step to the legalization of cannabis for recreational
use.”
A Premium Product
ABcann Global Corp (CVE: ABCN) (OTC: ABCCF) introduced its first
recreational cannabis brand prepped for Canada’s full legalization on Oct. 17. FIRESIDE, created in a small-batch process akin to
craft-brewed beer, will be marketed as a high-end product.
“Legalization will bring a wide variety of different consumers to cannabis, and many will want a high-quality product without
having to be an expert at choosing between strains,” Chief Marketing Officer Sung Kang said in a statement. “That’s why we created
FIRESIDE – it’s a premium brand for those who want great products that are easy to understand.”
Related Links:
MedReleaf
Enters Colombian Market, CV Sciences Delivers Strong Sales, Aurora Pays For Employees' Medical Marijuana
NanoSphere's
Patent, MariMed Acquires iRollie, Aurora Goes To Malta
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