News

$TCAN Appoints Ian Klassen to Board of Directors

TransCanna Holdings (CSE: TCAN) (FSE: TH8) this morning announced a new appointment to its board of directors. Ian Klassen joins the board and will additionally serve as chair of the company’s audit committee. Klassen brings nearly 30 years of experience in business management, public relations and government affairs to the company. His background includes serving as chief of staff to the Canadian Speaker of the House of Commons, as well as extensive experience in the administration of public companies, finance, government policy, media relationship strategies, business/government project management and legislative decision-making. “I would like to welcome Ian to our team,” TransCanna Director Stephen Giblin said in the news release. “He will be a valuable addition on multiple levels given his background and experience. A lot of work has gone into developing our financial model and strategic plan as we continue to build out our California based operations.”

To view the full press release, visit: http://nnw.fm/3aWsz

About TransCanna Holdings Inc.

TransCanna Holdings is a Canadian-based company providing branding, transportation and distribution services, through its wholly owned California subsidiaries, to a range of industries including the cannabis marketplace. For more information, visit the company’s website at www.TransCanna.com.

NOTE TO INVESTORS: The latest news and updates relating to TCAN are available in the company’s newsroom at http://nnw.fm/TCAN

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Friday, August 16th, 2019 News Comments Off

$BHAT Aims to Modernize Classrooms in China via Strategic Partnership Agreement

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a producer, developer and operator of popular, augmented-reality, interactive, entertainment games and toys in China, recently entered a strategic agreement with Guangdong Family Periodicals Group. The two companies are partnering to develop innovative educational solutions that feature Blue Hat technologies (http://nnw.fm/b3mtB). A recent article discussing the company reads, “The partnership between the two entities is a result of technological advances over the past few years. The advent of 5G technology will make the widespread adoption of AR solutions a simpler task. This infrastructural development will enable innovators like Blue Hat to offer cutting-edge solutions to various types of consumers. The introduction of AR in Chinese schools is expected to give children an interactive platform that can enhance the learning experience and make it more entertaining. . . . Through the partnership, Blue Hat and Guangdong Family Periodicals Group will aim to create the so-called ‘AR Smart Kindergarten.’”

To view the full article, visit: http://nnw.fm/lT5OL

About Blue Hat Interactive Entertainment Technology

Headquartered in Xiamen, China, Blue Hat is a producer, developer and operator of augmented-reality, interactive entertainment games and toys, including interactive educational materials, mobile games and toys with mobile game features. For more information, visit the company’s website at www.BlueHatGroup.net.

NOTE TO INVESTORS: The latest news and updates relating to BHAT are available in the company’s newsroom at http://nnw.fm/BHAT

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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NetworkNewsWire (NNW)
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Friday, August 16th, 2019 News Comments Off

$INMB Continuous Advancement of Clinical Program, New Strategic Appointment

  • The immunology company released its financial results for the second quarter of 2019 and also delivered an update on its clinical trials
  • The phase I trial of INmune Bio’s cancer treatment INB03 has delivered promising results in terms of safety and tolerability. The company will now be moving forward with the phase II of the trial
  • INmune Bio also announced the appointment of biotechnology executive Edgardo Baracchini as a new member of the board of directors

INmune Bio Inc.’s (NASDAQ: INMB) clinical program continues to advance, CEO RJ Tesi, M.D., noted during a presentation of the company’s 2019 second quarterly report. The business update, year-to-date, focused on financial results and on the advancement of the INB03 program (http://nnw.fm/KnIw1).

At the beginning of August, INmune Bio announced positive preliminary data from the INB03 phase I clinical trial. INB03 is a second-generation soluble tumor necrosis factor (sTNF) inhibitor, which the…

Read more »

NOTE TO INVESTORS: The latest news and updates relating to INMB are available in the company’s newsroom at http://nnw.fm/INMB

 

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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NetworkNewsWire (NNW)
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Friday, August 16th, 2019 News Comments Off

$CNPOF $RIV.V $RIV Portfolio Companies Enter Purchase and Supply Agreement

Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) this morning announced the entry of its portfolio companies, James E. Wagner Cultivation Corporation (“JWC”) (TSXV: JWCA) (OTCQX: JWCAF) and TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), into a purchase and supply agreement, demonstrating collaboration and synergy that is seen throughout the Canopy Rivers ecosystem. Under the agreement, JWC will supply cannabis flower and oils to TerrAscend, which will then be made available for purchase on TerrAscend’s online medical sales platform, Solace Health. The platform will provide JWC with exposure to thousands of registered medical patients across Canada. “The collaboration between JWC and TerrAscend is evidence of the Canopy Rivers ecosystem at work,” Canopy Rivers Chief Operating Officer Olivier Dufourmantelle said in the news release. “Portfolio companies that work together, thrive together. We are constantly striving to broker opportunities for synergy and collaboration within our portfolio.”

To view the full press release, visit: http://nnw.fm/2yNBS

About Canopy Rivers Inc.

Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers identifies strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem. For more information, visit the company’s website at www.CanopyRivers.com.

NOTE TO INVESTORS: The latest news and updates relating to CNPOF are available in the company’s newsroom at http://nnw.fm/CNPOF

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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For more information, please visit https://www.NetworkNewsWire.com

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NetworkNewsWire (NNW)
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Friday, August 16th, 2019 News Comments Off

$TGODF $TGOD Completes First Shipment to Ontario Cannabis Store

  • Marks TGOD’s entry into Canada’s recreational market
  • Launching with Ontario-grown dried flower of its flagship strain: Unite Organic
  • Serving market demand for premium organic cannabis, an underserved segment

TORONTO, Aug. 16, 2019 – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF), a leading producer of premium certified organic cannabis, is pleased to announce that it has completed its inaugural shipment to the Ontario Cannabis Store, marking the Company’s entrance into Canada’s recreational market. Ontario consumers will soon be able to experience TGOD’s acclaimed Unite Organic dried flower, the Company’s high THC signature strain, which will be available on www.ocs.ca as well as at select retail locations across the province.

“We are thrilled to introduce Unite Organic dried flower to Ontario adult consumers. Launched earlier this year with our Grower’s Circle, Unite Organic was highly praised by medical patients.  Our small pilot confirmed that market demand for premium certified organic cannabis exceeds available supply,” commented Brian Athaide, CEO of TGOD.  “Today’s milestone gets us one step closer to achieving our vision of becoming the world’s leading brand for premium certified organic cannabis in both medical and recreational segments.  We look forward to continuing to expand our distribution network as we ramp up production in the months ahead.”

In a recent study conducted by Hill & Knowlton, over 50% of recreational consumers stated that it is important that their cannabis be organic. TGOD’s cannabis is grown in the Company’s proprietary living soil, in accordance with all-natural principles and without irradiation. The Company’s growing process is also certified organic by both Pro-cert and ECOCERT, two leading organic certification bodies, providing consumers with a safe, consistent, and enjoyable cannabis experience.

Initially available to a small group of medical patients called the Grower’s Circle, TGOD recently opened sales to medical patients across the country. The Company has also signed supply agreements with Alberta and British Columbia.

About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. TGOD also has organic hemp CBD oil operations in Canada, and through its wholly owned subsidiary HemPoland distributes premium hemp CBD oil in the EU. The Company grows high quality, certified organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about the availability of the Company’s products at the Ontario Cannabis Store or other retailers, plans to offer certain products to various provinces, statements about future production capacity, statements about the receipt of any regulatory permits or licences, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

Friday, August 16th, 2019 News Comments Off

$PBIO Q2 FY19 Financials & Business Update

Record Consumables Sales, Strong Growth in BaroFold & UST Services, and Launch of Revolutionary CBD Processing System Highlight the 2019 Second Quarter; Company Believes Total Revenue Will More than Double in 2020

Investor Conference Call Scheduled for Thursday, August 15, 2019 at 4:30 PM EDT

SOUTH EASTON, MA / August 15, 2019 / Pressure BioSciences, Inc. (OTCQB:PBIO) (“PBI” or the “Company”), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform solutions to the worldwide life sciences industry, today announced financial results for the second quarter ended June 30, 2019, provided a business update, and offered guidance for the remainder of FY2019 and for FY 2020.

Financial Results: Q2 2019 vs. Q2 2018 (rounded to nearest hundred except for EPS)

Total revenue for the second quarter ended June 30, 2019 was $518,700 compared to $638,800 for the same period in 2018, a 19% decrease. Product and services revenue was $518,700 for the second quarter of 2019 compared to $618,400 for the same quarter of 2018, a 16% decrease. Instrument sales decreased to $247,000 in Q2 2019 compared to $397,000 in Q2 2018, a decrease of 38%. Sales of consumables were $91,400 for the second quarter of 2019 (an all-time record) compared to $64,100 for the same period in 2018, a 43% increase. BaroFold contract services for protein disaggregation and controlled refolding applications were $69,700 for the 2019 second quarter compared to $52,600 for the same period in 2018, an increase of 32.5%. UST contract services reached $41,400 in Q2 2019 compared to $14,300 in the second quarter of 2018, an increase of 197.5%. Grant revenue in Q2 2019 was none compared to $20,000 in Q2 2018. Our NIH grant ended in November 2018.

Operating loss for Q2 2019 was $1,400,400 compared to $920,900 for the same period in 2018. This increase included legal fees for fundraising, increased use of investor and public relations services, non-cash stock compensation relating to renewed vesting of stock options, and employee costs relating to the hire of a chief commercial officer with related travel for business development.

Loss per common share – basic and diluted- was $(2.22) for Q2 2019 compared to loss per common share of $(9.20) for the same period in 2018. The decreased loss per share resulted from the Company recording deemed dividends in the prior year relating to the beneficial conversion feature on the Series AA preferred stock and a price protection provision triggered on May 2, 2018 by the sale of Series AA preferred stock, affecting Debentures and Warrants to purchase Common Stock held by existing Debenture holders.

Financial Results: First Half (1H) 2019 vs. First Half (1H) 2018 (rounded to nearest hundred except for EPS)

Total revenue for the 1H 2019 was $1,028,900 compared to $1,249,500 for the prior year same period, a decrease of $220,600 or 18%. This decrease was primarily due to lower revenue from instrument sales, as described below. We believe total revenue will increase over the remaining two quarters of 2019. Product and services revenue decreased to $1,028,900 for the first half of 2019 compared to $1,203,700 for the same period in 2018, a decrease of $174,800 or 15%. Comparing 1H 2019 to 1H 2018, instrument sales decreased to $385,700 from $817,100, consumable sales increased to $153,400 (an all-time record) from $138,800, BaroFold contract services increased to $220,800 from $52,600, and UST contract services reached $128,300 compared to $14,300. We believe product and services revenue will continue to increase (YoY) for the remaining quarters of 2019.

Operating loss was $2,797,000 for the first six months of 2019, compared to a loss of $2,029,000 for the same period in 2018, an increase of $768,000 or 38%. The increase included legal fees for fundraising, increased use of investor and public relations services, non-cash stock compensation relating to renewed vesting of stock options, and employee costs relating to the hire of a chief commercial officer with related travel for business development.

Net loss per common share was $(4.24) — basic and diluted — for the six months ended June 30, 2019 compared to a net loss per common share — basic and diluted — of $(11.01) for the same period in 2018. The decreased loss per share resulted from the Company recording deemed dividends in the prior year relating to the beneficial conversion feature on the Series AA preferred stock and a price protection provision triggered on May 2, 2018 by the sale of Series AA preferred stock, affecting Debentures and Warrants to purchase Common Stock held by existing Debenture holders.

Recent Operational and Technical Highlights

Launch of our Revolutionary UST-Based System to Make High Quality, Water-Soluble Nanoemulsions of CBD Oil

  • We released a short video demonstrating the ability of our proprietary UST platform to create water-soluble CBD Oil that disperses instantly when infused into soft drinks, sports drinks, and beer for enhanced quality and absorption
  • We announced our entrance into the CBD market with the launch of a novel processing system (the BaroShear K45) to revolutionize the manufacture of water-soluble, long-term stable, highly absorbable, nanoemulsified CBD Oil
  • We announced the initial close and customer for our BaroShear K45 nanoemulsification system
  • We made measurable progress on the build-out of our GMP-compliant manufacturing laboratory, where we expect to showcase the BaroShear K45 and the industrial scale, high volume, 2 liter per minute UST-based nanoemulsification systems

Ohio State/PBIO Project to Develop Safer, More Nutritious, Long Shelf-life, Clean Label Food and Beverages

  • We achieved the first major milestone in our USDA-funded project to develop a potential breakthrough processing method for higher quality, more nutritious, and safer food and beverages – with a focus on dairy products such as milk. This novel processing method is based on PBIO’s patented Ultra Shear Technology™ (UST™) platform.

Expansion of our Recently Launched BaroFold Contract Services Business

  • We entered into a six-figure agreement with a multi-national, multi-billion-dollar biopharma company
  • We continued discussions towards an agreement with a second multi-national, multi-billion-dollar company
  • We expanded the contract services laboratory with additional specialized equipment and new methods/applications

Expanded Applications for our Core Suite of PCT and Constant Pressure-based Instruments

  • At the June conference of the American Society for Mass Spectrometry, Dr. Tom Conrads (a nationally-acclaimed protein chemist) spoke on the critical role played by PBI’s Barocycler EXT platform in helping to make the profiling of their Laser Capture Microdissected tumor tissue samples possible at the throughput required in their APOLLO Cancer Moonshot program
  • Scientists at Tennessee State University showed that PBIO’s HUB instrument platform was highly effective in studies to develop improved methods for food safety, addressing the need for new ways to prevent serious food-borne diseases caused by bacteria such as E. coli and Listeria.

Richard T. Schumacher, President and CEO of PBI, said: “Because of the poor water solubility of today’s oil-based CBD products, most ingested CBD is flushed from the body, leaving little of the product to provide its beneficial properties. After much diligence and analysis, we concluded that we have the expertise and experience to successfully address this critical issue. Consequently, we pulled significant hours away from many of our staff over the past few months and had them focus on the development of an instrument system – based on our patented UST platform – that would increase the water-solubility, and thus the absorption, of CBD Oil. We succeeded; the result of that success is the BaroShear K45 processing system.”

Mr. Schumacher continued: “The CBD market is expected to hit $20 Billion by 2024 (BDS Analytics, 2019). There are currently hundreds upon hundreds of companies in this field. To survive, companies will need to differentiate themselves from the competition by delivering the highest quality products possible. Such products would undoubtedly need to have high water-solubility, absorption, and bioavailability, along with long shelf-life and a minimal amount of added chemicals. This is exactly what we intend to deliver.”

Mr. Schumacher concluded: “We have already begun to pre-sell limited quantities of the BaroShear K45. Units sold over the coming weeks will be delivered and installed in early 2020. We believe that such sales will have a significant impact on 2020 total revenue, potentially resulting in more than twice the total revenue of 2019. We further believe that revenue from our BaroFold platform contract services will continue to increase, and that the decline in PCT platform instrument sales observed over the past two quarters (caused in part by our focus on the development of the BaroShear K45) will end, and that we will see an increase in PCT product sales over the second half of 2019, and beyond.”

Earnings Call

The Company will hold an Earnings Conference Call at 4:30 PM EDT on Thursday, August 15, 2019. To attend this teleconference via telephone, Dial-in: (844) 602-0380 (North America), (862) 298-0970 (International). Verbal Passcode: PBIO Second Quarter 2019 Financial Results Call. Replay Number (877) 481-4010 (North America), (919) 882-2331 (International). Replay ID Number: 53312. Teleconference Replay Available for 30 days.

About Pressure BioSciences, Inc.

Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences industry. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology™, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions (e.g., cell lysis, biomolecule extraction). Our primary focus is in the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired, patented technology from BaroFold, Inc. (the “BaroFold” technology) to allow entry into the bio-pharma contract services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology™ (“UST™”) platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g., CBD Oil and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies.

Forward Looking Statements

This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” estimates,” “predicts,” “projects,” “potential” or “continue” or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. The Company’s financial results for the six months ended June 30, 2019 may not necessarily be indicative of future results. These and other factors may cause our actual results to differ materially from any forward-looking statement. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, and other reports filed by the Company from time to time with the SEC. The Company undertakes no obligation to update any of the information included in this release, except as otherwise required by law. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

For more information about PBI and this press release, please click on the following website link: http://www.pressurebiosciences.com.

Please visit us on Facebook, LinkedIn, and Twitter.

PRESSURE BIOSCIENCES, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED

For the Three Months Ended
June 30,
For the Six Months Ended
June 30,
2019 2018 2019 2018
Revenue:
Products, services, other
$ 518,663 $ 618,418 $ 1,028,903 $ 1,203,662
Grant revenue
- 20,355 - 45,885
Total revenue
518,663 638,773 1,028,903 1,249,547
Costs and expenses:
Cost of products and services
304,172 270,046 613,884 594,835
Research and development
291,538 323,832 556,242 648,808
Selling and marketing
186,609 224,942 374,824 499,410
General and administrative
1,136,768 740,843 2,281,189 1,535,448
Total operating costs and expenses
1,919,087 1,559,663 3,826,139 3,278,501
Operating loss
(1,400,424 ) (920,890 ) (2,797,236 ) (2,028,954 )
Other expense:
Interest expense
(1,074,488 ) (1,159,242 ) (1,587,194 ) (2,282,387 )
Other expense
(185,469 ) (9,582 ) (290,314 ) (14,312 )
(Loss) Gain on extinguishment of debt
(106,461 ) 471,612 (147,271 ) 475,897
Incentive shares/warrants
- (663,130 ) - (663,130 )
Total other (expense) income
(1,366,418 ) (1,360,342 ) (2,024,779 ) (2,483,932 )
Net loss
(2,766,842 ) (2,281,232 ) (4,822,015 ) (4,512,886 )
Deemed dividend on down round feature
- (213,012 ) - (213,012 )
Deemed dividend on beneficial conversion feature
(889,532 ) (10,532,291 ) (1,949,731 ) (10,532,291 )
Preferred stock dividends
(420,489 ) (95,879 ) (776,099 ) (95,879 )
Net loss attributable to common stockholders
$ (4,076,863 ) $ (13,122,414 ) $ (7,547,845 ) $ (15,354,068 )
Basic and diluted net loss per share attributable to common stockholders
$ (2.22 ) $ (9.20 ) $ (4.24 ) $ (11.01 )
Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation
1,837,913 1,426,698 1,780,881 1,395,187

PRESSURE BIOSCIENCES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS

Unaudited

June 30,
2019

December 31,
2018
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$ 117,933 $ 103,118
Accounts receivable, net of $0 reserve at June 30, 2019 and December 31, 2018
410,613 474,830
Inventories, net of $273,547 reserve at June 30, 2019 and December 31, 2018
744,806 765,478
Prepaid expenses and other current assets
127,657 170,734
Total current assets
1,401,009 1,514,160
Investment in equity securities
16,643 16,643
Property and equipment, net
94,277 69,272
Right of use asset leases
108,332 136,385
Intangible assets, net
620,192 663,462
TOTAL ASSETS
$ 2,240,453 $ 2,399,922
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
Accounts payable
$ 514,948 $ 658,856
Accrued employee compensation
438,608 456,932
Accrued professional fees and other
1,435,210 1,112,995
Other current liabilities
1,909,514 1,233,325
Deferred revenue
25,702 20,623
Operating lease liability
67,674 59,799
Convertible debt, net of unamortized discounts of $360,297 and $156,180, respectively
4,835,066 4,000,805
Other debt, net of unamortized discounts of $13,833 and $9,118, respectively
1,107,667 852,315
Other related party debt
15,000 15,000
Total current liabilities
10,349,389 8,410,650
LONG TERM LIABILITIES
Operating lease liability, net of current portion
40,658 76,586
Deferred revenue
32,506 37,757
TOTAL LIABILITIES
10,422,553 8,524,993
STOCKHOLDERS’ DEFICIT
Series D Convertible Preferred Stock, $.01 par value; 850 shares authorized; 300 shares issued and outstanding on June 30, 2019 and December 31, 2018, respectively (Liquidation value of $300,000)
3 3
Series G Convertible Preferred Stock, $.01 par value; 240,000 shares authorized; 80,570 shares issued and outstanding on June 30, 2019 and December 31, 2018, respectively
806 806
Series H Convertible Preferred Stock, $.01 par value; 10,000 shares authorized; 10,000 shares issued and outstanding on June 30, 2019 and December 31, 2018, respectively
100 100
Series H2 Convertible Preferred Stock, $.01 par value; 21 shares authorized; 21 shares issued and outstanding on June 30, 2019 and December 31, 2018, respectively
- -
Series J Convertible Preferred Stock, $.01 par value; 6,250 shares authorized; 3,458 shares issued and outstanding on June 30, 2019 and December 31, 2018, respectively
35 35
Series K Convertible Preferred Stock, $.01 par value; 15,000 shares authorized; 6,880 shares issued and outstanding on June 30, 2019 and December 31, 2018, respectively
68 68
Series AA Convertible Preferred Stock, $.01 par value; 10,000 shares authorized; 7,518 and 6,499 shares issued and outstanding on June 30, 2019 and December 31, 2018, respectively
76 65
Common stock, $.01 par value; 100,000,000 shares authorized; 1,889,616 and 1,684,182 shares issued and outstanding on June 30, 2019 and December 31, 2018 respectively
18,896 16,842
Warrants to acquire common stock
21,446,642 19,807,247
Additional paid-in capital
41,676,926 39,777,301
Accumulated deficit
(71,325,652 ) (65,727,538 )
Total stockholders’ deficit
(8,182,100 ) (6,125,071 )
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT
$ 2,240,453 $ 2,399,922

Investor Contacts:

Richard T. Schumacher, President and CEO
(508) 230-1828 (T)
(508) 230-1829 (F)

Thursday, August 15th, 2019 News Comments Off

$OGI This CBD Trend Holds a Significant Amount of Sales Potential

Palm Beach, FL – August 15, 2019 — Demand for CBD-rich consumer products has been explosive since the U.S. Farm Bill was signed into law. In fact, the Brightfield Group estimates the U.S. CBD product market alone to be worth over $23.7 billion by 2023. Piper Jaffray says the potential for beauty products could boost the overall CBD market value to as much as $100 billion.  Better, China is creating an explosive new trend, as it sees growing demand form skincare products tailored for men.  In fact, in 2018, sales of male skincare products increased between 51% and 114% for cleansers, facial masks, lotions, and creams.  If CBD finds its way into that mix, it could create a bigger catalyst for companies such as The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), Canopy Growth Corporation (TSX:WEED)(NYSE:CGC), HEXO Corporation (NYSE:HEXO)(TSX:HEXO), OrganiGram Holdings Inc. (TSX-V:OGI) (NASDAQ:OGI), and Aphria Inc. (NYSE:APHA)(TSX:APHA).

The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced it has entered into a distribution agreement dated August 14, 2019 with Antler Retail Inc. for worldwide distribution rights to the Antler Real Men hemp product line.  Antler also closed its previously announced licensing agreement with Yield and completed payment of $800,000 to Yield Growth for a non-exclusive perpetual license for the worldwide rights to 8 hemp product topical formulas created by Yield Growth.Antler is in development to launch a men’s line with these 8 licensed hemp formulas for hair pomade, beard oil, shaving cream, deodorant and 4 premium essential oil colognes based on the Indian Royal Attar tradition utilizing scents like amber and tobacco for their masculine aroma profile.  The Yield formulas that have been licensed to Antler include blends of saffron, sandalwood, pink lotus, and frankincense combined with resins from west coast spruce, cedar, fir, cypress, and black spruce.  Inspired by the Ayurvedic tradition of sourcing ingredients locally these forest resin de-stressing scents induce a sense of familiarity and calming. Yield Growth will also act as the international distributor for these products.  “We have tremendous interest from companies around the world to distribute our Urban Juve line of hemp products,” says Penny Green, Yield Growth CEO. “We are excited to act as international distributor for this exciting new men’s line to add to our distribution channels.”

Antler issued 4,000,000 shares at a deemed valid of $800,000 to Yield Growth as payment for the formula license. The licensing agreement provided that at closing the license fee may be paid in stock; however, other fees are to be paid in cash on a monthly basis. Fees for manufacturing, testing and marketing are still being negotiated but its anticipated that stability testing services will be provided through Yield to establish a 24-month shelf life and that these tests will begin within 30 days.  Yield Growth has developed expertise in developing and launching cannabis brands such as its in house brands Urban Juve and Wright & Well.  Yield Growth is building an international distribution platform for cannabis products which extends to the US, Europe and Asia with intentions to enter South America.  The term of the agreement is 10 years but can be cancelled by either party on 6 months’ notice.

Other cannabis-related developments from around the markets include:

Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) entered into an agreement to acquire the global cannabinoid-based medical researcher Beckley Canopy Therapeutic. The acquisition brings together Canopy’s wholly owned research program with the Beckley Canopy research platform which is partly owned by Canopy Growth in order to combine the best teams, programs and clinical work all under a single strategic plan. The research arm in turn directly supports the commercial efforts of Spectrum Therapeutics around the world. As part of the acquisition, Canopy Growth also acquires the outstanding shares in Spectrum Biomedical UK, the commercial arm of the Company in the United Kingdom, as that markets begins to develop into a commercially viable opportunity. With the acquisition of C3, and Canopy Growth’s expanding research and development plans worldwide, the Company is solidifying its status as a truly global leader in cannabinoid research. Spectrum Therapeutics will leverage Beckley Canopy’s intellectual property, accelerate its comprehensive research programs, build evidence around the Company’s products and formulations and ultimately improve patient access to cannabinoid-based medicines globally.

HEXO Corporation’s (NYSE:HEXO)(TSX:HEXO) cannabis products are now available to Alberta consumers for the first time after finalizing an agreement between HEXO and Alberta Gaming, Liquor and Cannabis (AGLC).  The agreement provides AGLC with HEXO’s nine dried flower products and award-winning Elixir oral sprays, making them available on the Alberta Cannabis online store and to all of the nearly 200 private retail stores in the province.  “This agreement marks the latest achievement in the development of HEXO’s presence in Western Canada and our goal to be top two in market-share in the country,” said HEXO Corp CEO and co-founder, Sebastien St-Louis. “Alberta represents one of the largest cannabis markets in Canada and we are thrilled to see our products are available to Albertans across the province.”

OrganiGram Holdings Inc. (TSX-V:OGI) (NASDAQ:OGI) just announced it entered into an advance payment and purchase agreement with 703454 N.B. Inc. (carrying on business as 1812 Hemp) under which the Company will pre-fund hemp purchases to receive access to as much as 60,000 kilograms of dried hemp flower to be harvested in calendar 2019 for extraction into cannabidiol isolate.  Organigram is already a party to a purchase agreement entered into in January 2019 with 1812 Hemp, in which Organigram was granted a right of first refusal on 1812 Hemp’s production of certain hemp cultivars. Access to CBD-rich hemp flower is being facilitated through the Payment Agreement as the Company will advance funds to 1812 Hemp for their purchase of specialized large-scale hemp harvesting and processing equipment to maximize crop yields, contribute to increased efficiency and improve preservation of harvested cannabinoids. Purchase conditions for the dried hemp flower continue to be governed by the January Purchase Agreement which secures supply and supports research and development on the genetic improvement of hemp through traditional plant breeding methods.

Aphria Inc. (NYSE:APHA)(TSX:APHA) announced that its German subsidiary Aphria Deutschland GmbH had been awarded a fifth lot for the cultivation of medical cannabis in Germany as part of the Company’s previously awarded license from the German Federal Institute for Drugs and Medical Devices. The additional lot was provisionally awarded to Aphria Germany in April and was secured following a review by a German court, which affirmed the original decision by the BfArM.  With this decision, Aphria Germany won the maximum output from the German tender process – a total of five lots – and stands as the only licensed producer in Germany with the permission to grow all three strains of medical cannabis approved by the BfArM. “We are thrilled about our successful conclusion to the German tender process, which has awarded Aphria with the most comprehensive license in the country,” said Hendrik Knopp, Managing Director of Aphria Germany. “This award affirms Aphria’s leading position in the German medical cannabis market. Construction on our indoor cultivation facility continues to progress rapidly and we look forward to supplying Germany’s first domestically-grown medical cannabis in early calendar 2020.”

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Thursday, August 15th, 2019 News Comments Off

$LXRP Announces it has Received Four New Patents

Lexaria Bioscience Corp. (OTCQX:LXRP) (CNSX:LXX.CN) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce that four of its pending patent applications, via its wholly-owned subsidiary Poviva Corp., have now been granted. The four new patents granted are as follows:

  1. I.Australia Patent #2016367036 / Grant Date July 30, 2019 – Methods for formulating orally ingestible compositions comprising lipophilic active agents
  2. II.Australia Patent #2018220067 / Grant Date July 30, 2019 – Food and beverage compositions infused with lipophilic active agents and methods of use thereof
  3. III.US Patent #10,374,036 / Grant Date August 6, 2019 – Food and beverage compositions infused with lipophilic active agents and methods of use thereof
  4. IV.US Patent #10,381,440 / Grant Date August 13, 2019 – Food and beverage compositions infused with lipophilic active agents and methods of use thereof

The issuance of these four patents results in Lexaria’s total patents granted increasing to 15 with eight granted in the US and seven granted in Australia, along with roughly 60 patent applications pending throughout the world. The granted patents cover delivery of: cannabinoids such as THC and CBD; NSAIDs such as ibuprofen; nicotine; and vitamins.

With 15 patents already granted for the delivery of cannabinoids, Lexaria is one of the most patent-rich firms in the Western World for effective blood plasma delivery of cannabis-related compounds in the cannabis or hemp industries.

Lexaria continues to enhance its DehydraTECH(TM) technology and now, with its recently issued Health Canada cannabis research and development license, will accelerate its investigations with a variety of active pharmaceutical ingredients (“API’s”), including but not limited to cannabis related API’s, to further strengthen its patent portfolio.

Lexaria also announces the issuance of 550,000 incentive stock options (the “Options”) which are being issued pursuant to its equity incentive plan as approved by its shareholders on June 20, 2019 and registered with the Securities and Exchange Commission, including 100,000 issued to a Director and 450,000 issued to employees/consultants of the Company. The Options will be exercisable to purchase voting common shares of Lexaria (“Shares”) at a price of US$0.81 per Share, for a period of five years expiring on August 15, 2024. Any Shares issued pursuant to the exercise of the Options prior to December 16, 2019 shall bear the restrictive hold period legend prescribed by National Instrument 45-102 – Resale of Securities.

About Lexaria

Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the USA and in Australia for utilization of its DehydraTECHTM delivery technology. Lexaria’s technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.

www.lexariabioscience.com

For regular updates, connect with Lexaria on Twitter (https://twitter.com/lexariacorp)

and on Facebook https://www.facebook.com/lexariabioscience/

FOR FURTHER INFORMATION PLEASE CONTACT:

Lexaria Bioscience Corp.

Alex Blanchard, Communications Manager

(250) 765-6424 ext. 202

Or

NetworkNewsWire (NNW)

www.NetworkNewsWire.com

Thursday, August 15th, 2019 News Comments Off