Global Functional Beverages Markets Report 2022: A $175+ Billion Market by 2027 – Industry Trends, Opportunities and Forecasts – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Functional Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global functional beverages market size reached US$ 116.16 Billion in 2021. Looking forward, the market is set to reach US$ 175.8 Billion by 2027, exhibiting a CAGR of 7.15% during 2021-2027. Functional beverages refer to non-alcoholic drinks containing non-traditional ingredients such as vitamins, minerals, dietary fibers, amino acids, raw fruits, and probiotics. Sports drinks, energy drinks, herbal tea, vitamin water, and fruit drinks with additives are some commonly available functional beverages. They are widely consumed to improve health, energy, athletic endurance, and hydration. Functional beverages assist in delivering nutrients and bioactive compounds to the body, including antioxidants, fatty acids, fibers, plant extracts, and micronutrients. As a result, their consumption promotes a healthy cardiovascular system, improves digestion, prevents cancer, boosts immunity, regulates weight loss, strengthens joints, and enhances memory. Functional Beverages Market Trends: Global functional beverages market is primarily being driven by significant growth in the food and beverage (F&B) industry due to the increasing demand for healthy and high nutritional food products. In line with this, the increasing product demand can also be attributed to rising consumer health consciousness and the growing participation in sports and allied activities to provide instant energy, prevent dehydration, and improve overall health. Additionally, the launch of organic, vegan protein, cannabidiol (CBD)- and plant-based, non-genetically modified organism (non-GMO), and allergen-free functional drinks is providing an impetus to market growth. Besides this, emerging trends in beverage consumption and related demographics, such as age and gender-specific functional beverages, that cater to the specific needs of kids, women, and the geriatric population is creating a positive outlook for the market. Furthermore, recent innovations in packaging, such as single-serve and ready-to-drink (RTD) packaging, to address the rising demand for convenient functional beverages are supporting the market growth. Other factors, including rising consumer expenditure capacities, easy product availability across various retail platforms, and extensive celebrity endorsements and promotional activities by key players to broaden the consumer base, are anticipated to drive the market toward growth. Key Questions Answered in This Report: How has the global functional beverages market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global functional beverages market? What are the key regional markets? What is the breakup of the market based on the type? What is the breakup of the market based on the distribution channel? What is the breakup of the market based on the end user? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global functional beverages market and who are the key players? What is
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High Tide Recaps Key Milestones of 2022

CALGARY, Alberta--(BUSINESS WIRE)--High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, is pleased to reflect on its key milestones for 2022, a year that saw record growth for the company. From becoming the top revenue-generating cannabis company in Canada to being recognized as one of Canada’s “Top Growing Companies” for the second year in a row by the Globe and Mail, to the growth of its unique Cabana Club loyalty program to over 900,000 members, to entering a new lucrative vertical in the United States with the launch of cannabis seed sales, the Company continuously demonstrated that it is committed to the further diversification of its ecosystem while remaining a leader in bringing innovation to the cannabis retail landscape. High Tide’s 2022 Highlights: Total revenue for the nine months ended July 31, 2022, increased to CAD$248.6 million from CAD$127.3 million for the nine months ended July 31, 2021. Concurrent with the release of the Company’s fiscal third quarter results, it disclosed that annualizing the revenue generated in the month of August 2022 results in a current revenue run rate exceeding CAD$400 Million.  High Tide has become the top revenue-generating1 cannabis company in Canada, according to New Cannabis Ventures2. Generated same-store sales increases of 46% during the three months ended July 31, 2022, compared to the same quarter in the prior year and 18% compared to the prior quarter. Delivered rapid growth in its unique Cabana Club loyalty program, which is the largest bricks-and-mortar cannabis loyalty program in Canada with over 900,000 members. Launched Cabana Elite, the first-of-its-kind cannabis paid membership loyalty program in Canada. Entered the British Columbia market, with six stores operating at the end of 2022.  The Company also anticipates the organic opening of its location in Kamloops, BC, imminently.  Added 45 new Canadian stores, both organically and through accretive acquisitions, closing the year at 150 stores across Ontario, Manitoba, Saskatchewan, Alberta and British Columbia. Achieved a top 10 ranking in the diversified industries stocks category by the TSX Venture 50 for 2022. Ranked 21st out of 430 in the Globe and Mail's annual ranking of Canada's “Top Growing Companies” with 1970% revenue growth over three years. This marks the second year in a row the Company has earned a spot on this prestigious list. Closed a $19 million senior secured credit facility with connectFirst Credit Union Ltd., with an initial 5-year term, at connectFirst’s floor interest rate. Rolled out 175 proprietary Fastendr Kiosks across 120 Canna Cabana stores. Launched its Cabana Cannabis Co. white-label offerings in the Canadian provinces of Ontario, Manitoba and Saskatchewan. Entered a new lucrative vertical in the United States with the launch of cannabis seed sales through its subsidiaries GrassCity and Smoke Cartel. Launched first-of-its-kind exclusive annual ‘420’
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Cabbacis Announces Canadian Patents for Very-Low-Nicotine Tobacco Products

NIAGARA FALLS, N.Y.--(BUSINESS WIRE)--Cabbacis LLC, a U.S. federally-licensed tobacco product manufacturer focused on harm reduction products, today announced that the Canadian Intellectual Property Office (CIPO) has issued Patent No. 3,151,047 to Cabbacis for pods comprising blends of very-low-nicotine tobacco and hemp for use with oral electronic vaporizers. Canadian Patent No. 3,151,047 includes 27 claims which will expire on September 10, 2040. Earlier in 2022, CIPO also issued Patent No. 3,107,796 to Cabbacis for cigarettes comprising blends of very-low-nicotine tobacco and hemp. “I am pleased that both types of our products are now patented in Canada which is one of our early target countries for commercialization,” said Joseph Pandolfino, Founder and President of Cabbacis. Primary applications of the company’s patented very-low-nicotine cigarettes and vaporizer pods in development comprising blends of very-low-nicotine tobacco and hemp are to assist smokers of conventional cigarettes to smoke less, transition to less harmful tobacco or nicotine products, or quit nicotine use altogether. Cabbacis’ patent portfolio includes 25 issued patents and various pending patent applications across the United States, Europe, China, Japan, South Korea, Canada, Australia, New Zealand, Mexico, Brazil and other countries. The company holds six U.S. patents. About Cabbacis LLC Cabbacis is a tobacco product manufacturer committed to developing and commercializing consumer acceptable modified-risk tobacco products (MRTPs) that reduce exposure to smoke, as compared to conventional cigarettes, and facilitate the transition of smokers to less harmful products. To learn more about Cabbacis, please visit www.cabbacis.com.
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Global Energy Drinks Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Energy Drinks Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Product Type, Packaging Type, End-User, Flavor, Distribution Channel, and Major Regions" report has been added to ResearchAndMarkets.com's offering. Global Energy Drinks Market is expected to record a positive CAGR of ~8% and is expected to reach nearly US$ 80 billion by 2028, owing to the growing demand for potential energy booster products like energy drinks which also improves physical and cognitive performance. Adoption of a healthy lifestyle and growing demand for energy drinks for mental alertness are some of the factors driving the market growth. The increase in health-conscious consumers coupled with lifestyle changes, eating and drinking patterns, and taste preferences are anticipated to augment the growth of the Global Energy Drinks Market. The surge in demand for a variety of flavor energy drinks that are sugar-free and calorie-free and increasing efforts of manufacturers to introduce new energy drinks in the market to fulfill the demand for consumers is likely to boost the growth of the market. The Global Energy Drinks Market faces challenges due to stringent regulations laid by governmental bodies on energy drinks. Governmental bodies such as The Food Safety and Standards Authority of India (FSSAI) and others laid strict regulations on energy drink products and regulated the amount of caffeine and others in the product, which may hamper the growth of the Global Energy Drinks Market. The COVID-19 pandemic positively impacted the Energy Drinks Market owing to the increased demand for functional beverages, and healthy drinks that boost energy levels. Moreover, consumers are still engaged in various exercise regimes in their homes, which leads to the continued need for energy drinks products. In addition, the increased consumption of energy drinks and increased sales of the products through online channels has benefitted the growth of the Global Energy Drinks Market. Competitive Landscape The Energy Drinks Market is highly competitive with ~150 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in Energy Drinks. Regional players comprise ~60% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. Some of the major players in the market include Lucozade Ribena Suntory Limited, Otsuka Pharmaceutical Co., Ltd., AriZona Beverages USA, National Beverage Corp., Red Bull, Monster Energy Company, PepsiCo, Coca-Cola, Amway Corp., NOS Energy Company among others. The leading global energy drinks companies such as NOS Energy Company, Red Bull, Monster Energy Company, and PepsiCo are highly focused on strategic product launches and are highly involved in promoting their products to hold their position in the market. Recent Developments Related to Major Players In February 2022, Red Bull launched the new Red Edition, with a watermelon taste in India. The new product is a perfect on-the-go drink and is available in retail stores like Reliance Retail, More, Spencer's, Ratnadeep, and others as
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Thailand Legal Cannabis Market Size, Share & Trends Analysis Report 2022-2030: Legalization has Opened New Revenue-Generating Opportunities for Various Industries – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Thailand Legal Cannabis Market Size, Share & Trends Analysis Report by Derivative (Marijuana, Hemp), by Sources (CBD, THC), by End-use (Medical Use, Recreational Use, Industrial Use), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering. The Thailand legal cannabis market size is expected to reach USD 9.6 billion by 2030 and is anticipated to expand at a CAGR of 58.4% from 2022 to 2030 The growth is attributed to the rising usage of cannabis for recreational and medical purposes. Cannabis legalization has opened new revenue-generating opportunities for various industries in the country. The adoption of CBD oil and tinctures for treating various ailments like nausea, anxiety, and cancer along with the rising prevalence of cancer are some of the significant factors boosting the industry's growth. The growing burden of chronic pain has also augmented the rise in the usage of CBD for treatments related to pain management and thus, positively impacting the market growth. Various studies have shown positive outcomes of marijuana and its derivatives to treat symptoms of several chronic conditions. For instance, it has been effectively used to treat patients dealing with chronic pain, nausea induced by chemotherapy, and neurological diseases such as Alzheimer's and Parkinson's. Hence, FDA and other government organizations are permitting marijuana derivatives for the prescription of several diseases. This is one of the key factors for the quick turnaround. In 2018, Thailand legalized the adoption of cannabis for medical purposes. Furthermore, in June 2022, the government decriminalized the distribution, cultivation, consumption, and marketing of all the parts of the cannabis plant. The Thai Food and Drug Administration has also removed the cannabis plant from the Category 5 narcotics list. Although, smoking cannabis in public areas is still illegal. Furthermore, the rising disposable income of the country, increasing healthcare expenditure, a surge in social acceptance of CBD for its therapeutic applications, and an increasing number of product launches, along with improvements in intellectual property rights of Thailand are some of the key reasons that are expected to fuel the business growth. Moreover, with this legalization, more domestic players are planning to explore the CBD market and key players are also planning strategic initiatives to expand their product portfolio and regional domination through mergers & acquisitions, collaborations, partnerships, funding & investments. For instance, in December 2020, Tilray Brand s Inc. merged with Aphria and will operate under the name Tilray. Such factors also fuel the industry's growth. The growing trend of cannabis-infused food and beverages and the rising adoption of CBD oil by cosmetics and wellness industries also boost the industry's growth within the country. Thailand Legal Cannabis Market Report Highlights The hemp segment dominated the Thailand legal cannabis industry in 2021 and accounted for the largest revenue share of 88.4%. Growing usage of hemp for industrial purposes is one of the key factors fueling the segment's growth The CBD segment held the largest revenue share of
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Global Adaptogens Market Report 2022: Surge in Innovation, Transparency, and Brand-Building Drives Growth – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Adaptogens Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering. The Adaptogens Market is expected to grow at a CAGR of 7.45% to reach US$4,828.720 million in 2027 from US$2,920.654 million in 2020. Adaptogens are non-toxic plants used as a resistor to stress in a body. It works to relieve different types of stress, such as biological, chemical, or physical. The roots and herbs have been used since ancient times, especially in countries like China and India. It is used as a healing source in Ayurvedic and Chinese traditions. Surge in Innovation, Transparency, and Brand-Building Companies are investing a significant sum of capital into the R&D and innovation of the adaptogens product. There is a specific need to build trust and transparency among consumers. Investments and brand building will help manufacturers gain a competitive edge. There is a surge in consumer preferences and awareness of the product that the individual is consuming. Innovation is the key to enhancing and introducing novel products in the market. There has been a surge in the usage of adaptogens in the food and beverage industry as more consumers are using the product in their meals or as a supplement in their drinks. There is a need for creative marketing strategies to build trust and awareness among consumers. The companies regularly enhance and build more production facilities to accommodate the consumers' demands. A considerable number of consumers are drifting away from pharmaceutical and medical products as those products are not giving the desired results. Adaptogens are used to cure renal, cardiovascular, and digestive problems. There has been a surge in the awareness of consuming novel and safer medicinal herbs used to maintain endocrine homeostasis. There are considerable advantages of using medicinal herbs related to a better and healthier body. Adaptogens are used as a substitute for CBD. Cannabidiol, also known as CBD, is used to relieve stress and pain, enhance digestion, and surge the mental focus of the brain. There has been substantial use of CBD-based products in tinctures, beverages, and yoga apparel, registering significant growth in the CBD industry. However, there are considerable advantages of adaptogens-based products that are expected to become a substitute for CBD-based products. Adaptogens are known for their stress-relieving applications and other medical properties and this is expected to drive demand in the coming years. Distribution Channel The offline segments hold a major share in the market. Hypermarkets and supermarkets are registering significant growth in the market. Bigger retailers such as Walmart have connected directly with the manufacturers. They are diversifying their marketing strategies and reevaluating their supply chains. Regional Analysis North America holds a major share of the market. The reason is due to the rise in consumer preferences, and consumers are diversifying their options to purchase natural-based products. The Asia Pacific also holds a considerable share in the market as there has been a surge in
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PureTech Provides End of Year Report on Key Progress

BOSTON--(BUSINESS WIRE)--PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the “Company”), a clinical-stage biotherapeutics company dedicated to changing the treatment paradigm for devastating diseases, today reported on the key progress made across its Wholly Owned Programs1 and Founded Entities2 in 2022. Daphne Zohar, Founder and Chief Executive Officer of PureTech, commented: “2022 has been a particularly successful and productive year in both crystallizing value and shaping the future of PureTech. Our primary focus is to progress our Wholly Owned Pipeline to commercialization and deliver new classes of medicines for patients with serious, debilitating conditions. We are advancing toward this goal by deepening our commitment to programs with compelling clinical data that are moving into late-stage studies and that we believe have the potential for broad impact. “Over the next 12 months, we anticipate multiple important catalysts that will further guide how we prioritize our pipeline, informing our decisions regarding which programs we will drive to commercial launches ourselves and which programs could be most successfully advanced through other avenues such as a partnership, sale, or spinout into another entity.” PureTech’s Wholly Owned Programs are centered on developing breakthrough medicines for patients with underserved and serious diseases. The Company’s therapeutic candidates are being advanced for the potential treatment of devastating conditions including idiopathic pulmonary fibrosis (IPF), metastatic solid tumors, leukemia and certain neurological and neuropsychological indications. Additionally, PureTech’s Founded Entities are advancing 20 therapeutics and therapeutic candidates, of which two (Plenity® for weight management3 and EndeavorRx® for treating inattention in ADHD ages 8-124) have received both U.S. FDA clearance and European marketing authorization and a third (KarXT for schizophrenia) will soon be filed for FDA approval, as of the most recent update by the company. Key highlights include the following: Key Wholly Owned Program Updates LYT-100 (deupirfenidone) is in development for the potential treatment of conditions involving inflammation and fibrosis, including IPF, for which current standards of care are associated with significant tolerability issues, resulting in approximately three out of four patients in the U.S. foregoing treatment with these otherwise efficacious medicines.5 LYT-100 is a deuterated form of one of these treatments, pirfenidone, which has proven efficacy and has been shown to improve survival in these patients by approximately three years, but its side effects cause patients to discontinue or dose reduce, thereby limiting its effectiveness.6 Announced results from a randomized, double-blind crossover study in healthy older adults demonstrating that approximately 50% fewer subjects treated with PureTech’s LYT-100 experienced gastrointestinal-related adverse events compared to subjects treated with pirfenidone. Initiated a global, randomized double blind placebo-controlled trial of LYT-100 in patients with IPF. This trial is expected to serve as the first of two registration-enabling trials, and topline results are expected by the end of 2023. Initiated a preclinical study of LYT-100 for the prevention and treatment of radiation induced fibrosis, an indication for which the United States government stockpiles medical countermeasures. This program is subject to the
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Modern Oral Products in the European Region for 2003-2022: Evolution, Current Status, Innovations, Future Perspectives – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Modern Oral Products (Tobacco-Free Pouches Infused With Nicotine, CBD, Stimulants) in the European Region for 2003-2022: Evolution, Current Status, Innovations, Future Perspectives" report has been added to ResearchAndMarkets.com's offering. This report includes a detailed European market analysis and defines all the tobacco-free brands of oral pouches. All the data actual to the date of this Report as of December 1, 2022. The analysis of tobacco-free oral pouches includes 138 brands marketed in the EU and, in particular, 1077 products were studied that varied in flavour, nicotine strength, portion weight, and average price. Tobacco-free oral pouches are largely unregulated in the European market, although national regulations adopted by individual countries set the prospect for future regulation of the product under the TPD3 policy. At the moment requirements and restrictions over ingredients, maximum nicotine content, packaging and labelling, advertising, sponsorship and sale of tobacco-free oral pouches are in place in many country members of the EU, and these are very similar to those placed in front of vape products. Big Tobacco companies showed great interest in novel oral tobacco products, in particular, nicotine pouches. They actively adopt nicotine pouches as a focus of their corporate harm reduction strategies and develop production and distribution networks through acquisitions and investments. High demand for a safer way to consume nicotine has spurred the growth of the nicotine pouch product category and the search for innovative solutions related to formulations, pouch design and flavour delivery for higher competition. The growing popularity of nicotine pouches attracted attention to other snus-like nicotine-free products that could provide extra benefits and act like novel food or supplement in the European market. With the launch of more than 40 new brands of nicotine pouches in 2022 and increasing sales, the market is expected to grow at a compound annual growth rate (CAGR) of 35.7% from 2022 to 2030. Despite market barriers, launching your own product line is available thanks to many private companies offering white-label services or production equipment lines. Key Topics Covered: Disclaimer Glossary Executive Summary 1. Oral Pouches Classification Scheme 2. General Regulation for Tobacco-Free Oral Pouches 3. Products Requirements (Within Countries of Targeted Region) 3.1. Requirement on Ingredients 3.2. Nicotine/CBD Content 3.3. Health Warnings 3.4. Advertising and Display Restrictions 3.5. Age Limits and Restriction Statements 3.6. Labeling Statements 4. Nicotine Pouches Consumption Rating by Countries 5. Brands Ownership: Big Tobacco and Other Companies 6. Timeline of Tobacco-Free Oral Pouches Launched in 2003-2022 7. Main Innovations and Major Changes During the Period 8. TPD3 Policy Risks 9. Marketed Products Analysis 9.1. Content Analysis 9.2. Flavors Analysis 9.3. Pouch Size and Quantity Analysis 9.4. Packages Analysis 9.5. Nicotine Content Per Portion or Package 9.6. Retail Prices Analysis 10. EU Customs Statistics for Tobacco-Free Pouch 10.1. Imports of Tobacco-Free Oral Pouches in the European Union
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Movers Buddy Reports Affordable Suburbs To Move To If You Want To Save On Rent In Melbourne And Sydney

MELBOURNE, Australia--(BUSINESS WIRE)--As rents continue to soar, Australian families are struggling more than ever before to find affordable housing. When asked about the trend of moving to less expensive areas, Movers Buddy Head of Operations Ethan Davis says that "With the rise in living costs, people are looking for ways to stretch their dollars, and moving to a more affordable suburb is high on the priority list. When you have a family, you need space," he says. "Even if it's just one bedroom more, it makes a difference for families." Ethan suggests you consider bundling your moving needs when booking a removalists Sydney or movers Melbourne and see if you can get a discount on utilities, cleaning, moving, and packing supplies. Movers Buddy gives over 20% discount when bundling services. Since the beginning of this year, according to CoreLogic's latest quarterly rental review, rents in Australia have increased by an average of 10% nationally. As stated by Daily Mail, this crisis is leading many families to either live together in fewer dwellings or resort to less conventional forms of housing such as caravans. With Sydney and Melbourne being the two most expensive cities in Australia, rents have risen by 10.3% and 8.6%, as per CoreLogic's latest quarterly report, respectively; many families are looking for ways to save by moving to cheaper postal codes. According to Movers Buddy, a leading removalist platform in Australia, moving requests to affordable areas are on the rise. The median rent in Sydney is $665, and Melbourne is $495. The following list shows some of the suburbs where rents are below the median: The cheapest places to rent within 15 km of Melbourne CBD Kingsville - The median weekly rent is $320. West Footscray - The median weekly rent is $330. Brunswick - The median weekly rent is $420. The cheapest places to rent outside 15 km of Melbourne CBD St Albans - The median weekly rent is $325. Bundoora - The median weekly rent is $370. Glenroy - The median weekly rent is $380. The cheapest places to rent within 15 km of Sydney CBD Roselands - The median weekly rent is $335. Croydon Park - The median weekly rent is $350. West Ryde - The median weekly rent is $370. The cheapest places to rent outside 15 km of Sydney CBD Jordan Springs - The median weekly rent is $350. Rosehill - The median weekly rent is $360. North Parramatta - The median weekly rent is $370.
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Washington Liquor and Cannabis Board Issues Emergency License Suspension to Dank Inc. of Port Angeles

Emergency suspension due to multiple violations of cannabis laws and criminal activity WASHINGTON: The Liquor and Cannabis Board (LCB) yesterday issued an emergency suspension of the Tier 2 Producer/Processor license for Dank Incorporated in Port Angeles. The suspension follows a joint investigation with the Washington State Patrol’s Cannabis Enforcement Response Team resulting in findings of Read the full article...
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New WHO Study Shows Tobacco, Alcohol and Cannabis Use Among French Adolescents Went Down During COVID-19 pandemic

FRANCE: Tobacco, alcohol and cannabis use among French adolescents has decreased in the last decade, particularly between 2018 and 2021 and following the COVID-19 outbreak in 2020, finds WHO/Europe’s collaborative Health Behaviour in School-aged Children (HBSC) study.  In France, as across the WHO European Region, measures taken to control the COVID-19 pandemic disrupted the lives Read the full article...
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Plant-based Milk Global Market Report 2022: Rising Health Consciousness Fueling Growth – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Plant-based Milk Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Soy Milk, Coconut Milk, Almond Milk, Rice Milk, Others (Oat Milk, etc.), By Category, By Packaging, By Distribution Channel, By Region, Competition" report has been added to ResearchAndMarkets.com's offering. The global plant-based milk market is anticipated to project robust growth in the forecast period because of increasing lactose intolerance among people, innovative offerings by market players globally, etc. Vegan milk is a type of plant-based milk that is free of dairy components. It can be produced from soy, rice, almond, hemp, coconut milk, etc. Vegan milk, as opposed to conventional cow's milk, typically contains less fat and less cholesterol. Moreover, plant-based alternative companies are partnering with various artificial intelligence companies to bring innovations into their products. For instance, in 2020, Danone North America partnered with Brightseed, a biomedical artificial intelligence company, to explore the health benefits of plants. Also, companies are taking initiatives to spread awareness regarding these products among consumers. For instance, Danone has planned to allocate USD15 million over the next seven years to partner with retailers on healthy eating education and USD7 million to improve access to nutritious foods through community-based programs. These initiatives will further encourage consumers to purchase these products. Also, according to the Plant Based Foods Association, plant-based milk accounts for around 16% of all retail milk sales in the United States. Rising Health Consciousness Fueling the Market Growth The growing health consciousness among individuals, particularly after the COVID-19 pandemic situation, is prompting consumers to shift to plant-based milk as well as plant-based milk products since they offer various advantages such as they are rich in vitamins and minerals, low in fat, they do not contain cholesterol and are perfect for people with the low digestive system. Also, another main reason prompting people to shift to vegan milk is the increasing lactose intolerance. Approximately 65% of the adult human population has some lactose intolerance, which causes abdominal pain and other gastrointestinal consequences after consuming dairy products. According to the National Institutes of Health (NIH), approximately 70 and 100% of adults of East Asian descent have lactose intolerance. Hence, this factor is anticipated to further fuel the market growth of plant-based milk worldwide. New Product Launches Offerings Aiding the Market Growth Various companies are focusing on launching new products and expanding their product portfolios to cater to the growing demand for plant-based milk from consumers. For instance, in 2021, Alt foods, an Indian plant-based dairy startup, launched plant-based milk made with ingredients such as sprouted sorghum, sprouted finger millets, amaranth, and oats. Additionally, several FMCG companies are offering products containing plant-based milk to customers. For instance, in 2021, Dunkin' launched coconut milk on its menu. The coffee company introduced two new coconut milk-based beverages: the Dunkin' Coconut Refreshers and the Coconut milk Iced Latte. Similarly, in 2021, Starbucks launched plant-based oat milk bottled coffee beverages. It
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BIPOC In Cannabis: A Sit Down with HerbloCo. Founders & Partners

By Veronica Castillo The latest census data release states that there are 3.12 million Black-owned businesses in the United States. Other data confirms that Black women are the fastest growing demographic of business owners in the United States, with almost 2.7 million businesses. In the cannabis industry, the numbers show that Black people account for Read the full article...
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Hebrew University Announces Groundbreaking Medical Cannabis Course for Healthcare Professionals

Pioneering Medical Cannabis Experts Will Focus on the Therapeutic Role of Medical Cannabis in Patient Health ISRAEL: The Hebrew University of Jerusalem (HU), a world leader in cannabis research and development, is launching a 13-session medical cannabis course to better educate doctors, nurses, pharmacists and other medical professionals about new cannabinoid treatments, practices, and the Read the full article...
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Virpax Pharmaceuticals Reports on FDA Pre-IND Response for NobrXiol™ (formerly VRP324)

BERWYN, Pa.--(BUSINESS WIRE)--Virpax® Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, today announced that it has received pre-Investigational New Drug (PIND) application guidance from the U.S. Food and Drug Administration (FDA) for NobrXiol™, the Company’s product candidate for the delivery of cannabidiol in the management of epilepsy in children and adults. NobrXiol utilizes the Nanomerics Molecular Envelope Technology (MET) as its delivery system to cross the blood brain barrier, propelling the cannabidiol nanoparticles through the nose to the brain via the olfactory nerve. The main purpose of a pre-IND submission is to obtain FDA guidance on the overall development plan for a new drug and to identify any need for further data prior to submitting the IND. “
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2022 Techtextil Innovation Award Winners Reflect Growing Pressure to Achieve Circularity – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Editorial: 2022 Techtextil Innovation Award Winners Reflect Growing Pressure to Achieve Circularity" report from Textiles Intelligence Ltd. has been added to ResearchAndMarkets.com's offering. There was a heavy emphasis on sustainability at the 2022 edition of Techtextil, held in Frankfurt, Germany, during June 2022 - and this was reflected in the innovations presented by the nine winners of the 2022 Techtextil Innovation Awards. At the same time, the winners proposed new uses to which technical textiles can be put in order to solve a variety of societal challenges. Researchers at the Institute of Textile Machinery and High Performance Material (ITM) at Technische Universitat Dresden (TU Dresden - Technical University of Dresden) presented the world's first seamless woven heart valve, and RBX Creations presented a new fibre based on a novel process for extracting cellulose from oilseed hemp waste. FibreCoat presented a new aluminium coated basalt fibre, and Kelheim Fibres and Sachsisches Textilforschungsinstitut (STFI - Saxon Textile Research Institute) presented a reusable cloth diaper made entirely of sustainable materials. CITEVE (Centro Tecnologico das Industrias Textil e do Vestuario - Technological centre for the textile and clothing industry), in collaboration with three Portuguese partners, presented a process for turning natural leather waste and by-products from the tanning industry into new textile coatings, and Centexbel presented bio-based and compostable dispersions for textile coatings and printing inks. Verabuccia presented material for fashion accessories which was made by transforming fruit waste using a special process, and OrganoClick presented a range of 100% bio-based binders for nonwovens. Meanwhile, Deutsche Institute fur Textil- und Faserforschung Denkendorf (DITF Denkendorf - German Institutes of Textile and Fiber Research Denkendorf) presented a formaldehyde-free coating system based on non-toxic hydroxymethylfurfural (HMF) derived from biomass waste. Key Topics Covered: INTRODUCTION TECHTEXTIL INNOVATION AWARDS ITM and TU Dresden: seamless woven heart valve RBX Creations: Iroony cellulosic fibre derived from oilseed hemp waste FibreCoat and Deutsche Basalt Faser: AluCoat aluminium coated basalt fibre Flexibility Kelheim Fibres and STFI: Sumo concept cloth diaper Trilobal fibres CITEVE, CeNTI, CTIC and ERT Textil: transformation of leather waste and by-products from the tanning industry into new textile coatings Centexbel: bio-based and compostable dispersions for textile coatings and printing inks Verabuccia: Ananasse materials for fashion accessories from pineapple waste OrganoClick: bio-based binders for nonwovens which are derived from waste components obtained from residual streams in the food industry DITF Denkendorf and TotalEnergies: formaldehyde-free HMF coatings derived from biomass waste Companies Mentioned Centexbel CITEVE Deutsche Basalt Faser DITF Denkendorf ERT Textil FibreCoat Kelheim Fibres OrganoClick RBX Creations STFI TotalEnergies Trilobal fibres TU Dresden Verabuccia For more information about this report visit https://www.researchandmarkets.com/r/xi2xzo
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Bryn Pharma Appointments Jeff Hartness to its Board of Directors

RALEIGH, N.C.--(BUSINESS WIRE)--Bryn Pharma LLC, a privately held pharmaceutical company dedicated to finding a better way for patients and caregivers to treat anaphylaxis, today announced the appointment of Jeff Hartness to its Board of Directors. Mr. Hartness joins a group of senior directors focused on commercialization. “Jeff’s diverse background crosses all channels and segments of pharmaceutical business making him a perfect fit to continue to strengthen our team’s commercial expertise,” said Michelle Lobel, Co-Founder of Bryn Pharma. “We look forward to working with Jeff and the rest of the Board as we continue to enhance our commercial planning for UTULY.” Mr. Hartness brings more than 25 years of leadership and success in creating and executing go-to-market strategies in the healthcare space to Bryn’s Board. He has launched dozens of products in disease states including small molecules, specialty/biologics, devices, OTCs and generics. He is currently a member of Bausch Health Company’s (BHC) Global Executive Committee as Senior Vice President and Head of Market Access, Commercial Operations, Policy and Government Affairs. In this role, he focuses on the commercialization strategy of pricing, contracting and the creation of patient access to Bausch Health products, as well as the distribution of those products throughout the healthcare system. Prior to joining Bausch Health, Mr. Hartness spent 15 years at Sanofi in various leadership roles, including Product Launch Execution and as the Head of Pharmacy Benefit Managers, Employers and Specialty business. Mr. Hartness currently serves on the Board of Directors for Corganics, a privately held clinical cannabinoid life sciences company based in Dallas, Texas. “Jeff brings a deep knowledge of the ever-changing and complex payer, market and government landscape that are critical to ensure patients and physicians have access to needed innovative products,” said David Dworaczyk, Ph.D., CEO of Bryn Pharma. “We are thrilled to welcome him to our esteemed Board.” About Bryn Pharma Bryn Pharma, established in 2017, is a privately held pharmaceutical company founded by patients for patients. Bryn is focused on positively disrupting the existing market for epinephrine autoinjectors by delivering an accessible, easy-to-use alternative that better meets the needs of patients. Bryn Pharma seeks to provide this growing population at risk for anaphylaxis with A Better Way to be prepared for a life-threatening allergic reaction. For more information visit www.brynpharma.com.
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High Tide Enters New Vertical in the United States With Launch of Cannabis Seeds

CALGARY, Alberta--(BUSINESS WIRE)--High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that it has begun selling cannabis seeds in the United States, initially through its wholly owned subsidiaries Grasscity and Smoke Cartel, which are the two most popular e-commerce platforms for consumption accessories in the world.2 The Company plans to expand seed sales to additional online retail platforms within its portfolio in 2023.3 This launch comes on the heels of the American Drug Enforcement Agency’s recent official determination that cannabis seeds fall under the legal definition of hemp and can therefore be sold openly in the United States. “With our entry into this new and exciting complementary vertical, we continue to extend and strengthen our integrated value chain, providing our customers with a complete cannabis experience, in addition to the opportunity to further enhance our consolidated gross margin profile. This new business venture will greatly expand our U.S. customer base, which already sits at 2.4 million through our ancillary cannabis business lines, and sets us up well to take advantage of federal legalization in the United States when it comes. This further diversification into the U.S. seeds market also strengthens our Canadian discount club model, as this new vertical is expected to generate significantly higher gross margins than our core brick-and mortar-business, which will help us continue to offer unbeatable prices to our Cabana Club members,” said Raj Grover, President and Chief Executive Officer of High Tide. “GrassCity and Smoke Cartel, due to their top SEO rankings, organically built over the last twenty-two and eight years, respectively, generate some of the highest online traffic in the consumption accessories space, which is why it makes sense for us to leverage this strength as we launch this new vertical in the United States. Innovation has always been a cornerstone of High Tide's strategy, and today’s announcement is yet another example of how we will never stop looking for ways to enhance shareholder value while differentiating ourselves from the competition,” added Mr. Grover. GRANT OF RESTRICTED SHARE UNITS The Company also announced that its Board of Directors has approved a grant of 106,635 restricted share units ("RSUs") to directors of the Company pursuant to the Company's restricted share unit plan. Each RSU entitles the holder to acquire one common share of the Company upon vesting. ABOUT HIGH TIDE High Tide is a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets. The Company is the largest non-franchised cannabis retail chain in Canada, with 142 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The Company is also North America’s first cannabis discount club retailer, under the Canna Cabana banner, which is the single-largest cannabis retail brand in Canada, with additional locations under development across the country. High Tide’s portfolio also includes retail kiosks and smart locker technology – Fastendr™. High Tide has been
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Global Natural Fiber Reinforced Composites Market Report 2022: Moves towards Sustainability Across Industries Fueling Growth – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Natural Fiber Reinforced Composites Market Size, Segments, Outlook, and Revenue Forecast 2022-2030 by Fiber Type, Polymer, End-user Industry, and Region" report has been added to ResearchAndMarkets.com's offering. Natural fiber composites (NFCs) are a type of composite material in which the reinforcing fibers are generated from renewable and carbon dioxide-neutral fiber types like plants or wood. According to this analysis, the natural fiber reinforced composites market is expected to record a positive CAGR of over 9% during the forecast period (2022-2030) and is expected to reach approximately US$ 12 billion by 2030, owing to their greener nature and contribution to sustainable practice. Natural fibers have garnered significant interest from industry players and researchers for the utilization of polymer composites. To better balance environmental concerns with social and economic issues, some sectors have transitioned toward sustainable technology which is in turn pushing up the natural fiber reinforced composites market. The market for natural fiber reinforced composites is expanding primarily as a result of rising environmental concerns and the consequent rise in demand for bio-based composite materials. These composite fibers are made from several plants' bast, or outside stem. When compared to items made from oil, the use of these composites can cut carbon footprint by nearly 50%. These natural fibers are also up to 100% recyclable. All of these factors are fueling market expansion. Another factor driving the market growth is the rising use of bio-based fiber composite in the automotive industry. These are widely used in the fabrication of electric car components because of their lightweight qualities. Due to their competitive stiffness and strength compared to other synthetic fibers as well as their better acoustic insulation properties, these composites are also employed in vehicle door panels, floor panels, underfloor pans, seat backs, and trunk liners. By 2025, the Chinese government plans to have at least 5,000 fuel cell electric vehicles on the road, and by 2030 this number is expected to reach one million. The Chinese market for natural fiber reinforced composites is anticipated to be driven by the government's promotion of electric, hybrid, and fuel cell electric vehicles. Natural fibers also possess a negative characteristic known as hygroscopicity which is posing a negative impact on the market because, when a hygroscopic material is pneumatically transported, it may collect moisture from the air being used to transport the material and become extremely cohesive, which will cause it to have poor flowability Natural fiber composites' susceptibility to moisture absorption has a number of detrimental implications on their characteristics, which in turn affects how well they perform over time. For instance, increased moisture reduces their mechanical qualities To prevent the issue different techniques are adopted, for example, wood flour is prevented from absorbing moisture due to its encapsulation by the polypropylene matrix, and the level of encapsulation is higher for the composite made with 20% wood flour than it is for the composite made with 40% wood
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Global Industrial Hemp Market Report 2022: Growing Use of Hemp Seed and Hemp Seed Oil in Food Applications Fuels Sector – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Industrial Hemp Market by Type (Hemp Seed, Hemp Seed Oil, CBD Hemp Oil, Hemp Bast, Hemp Hurd), Source (Conventional, Organic), Application (Food & Beverages Pharmaceuticals, Textiles, Personal Care Products) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering. According to the publisher, the global industrial hemp market size is estimated to be valued at USD 6.8 billion in 2022 and is projected to reach USD 18.1 billion by 2027, recording a CAGR of 21.6% in terms of value. Industrial hemp is defined as the plant Cannabis sativa L. and any part of such plant, whether growing or not, with a delta-9-tetrahydrocannabinol (THC) concentration of not more than 0.3% on a dry weight basis. As industrial hemp contains less than 0.3% tetrahydrocannabinol (THC), it has a wide range of applications in the textile, food, and beverage, construction, animal care, personal care, pharmaceutical, paint, lubricant, bioplastic, and biofuel industries. One of the major drivers of the global industrial hemp market is the legalization of hemp cultivation in various countries. Furthermore, growing awareness of hemp's nutrient-rich profile and its benefits to human health is expected to boost hemp cultivation even more. The high content of essential fatty acids in hemp seed and oil aids in the prevention of many common ailments, leading to its increased use in food and beverages, pharmaceuticals, and personal care products. By application, there is an increased use of industrial hemp in animal nutrition, driving the growth of the industrial hemp market Hemp production produces byproducts, one of which is hemp meal. Because of its high fiber, fat, and protein content, hemp meal is a potential feedstuff for animal agriculture and a possible substitute for soybean meal in many livestock diets. Furthermore, hemp products face regulatory hurdles before they can be legally incorporated into livestock feedstuffs, due to concerns that tetrahydrocannabinol (THC), found in hemp biomass, could be transferred to animal products intended for human consumption. Hempseed and hempseed cakes could be used as feed materials for all animal species, according to the scientific opinion of the European Food Safety Authority (EFSA) Panel on Additives and Products or Substances Used in Animal Feed, with species-specific differences in the rate of inclusion in the diet. Hemp oil, as a rich source of essential fatty acids, can be used as a supplement in animal feed, while hemp seeds and hempseed cakes can be used as a fat and protein source in animal diets. By type, increase in the popularity of hemp bast drives the growth of industrial hemp market Hemp bast fibers are cellulosic fibers found in the phloem of bast fiber crops such as industrial hemp which are natural fibers derived from plants. The main components of hemp bast fibers are cellulose (53-91%), hemicellulose (4-18%), lignin (1-21%), and pectin (1-17%). The benefits of bast fibers include lighter product weight, lower energy consumption, and a smaller environmental footprint. Bast fibers can be spun and woven
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Cubic Transportation Systems Opens New Global Engineering Centre in Perth CBD

SAN DIEGO--(BUSINESS WIRE)--Cubic Transportation Systems (CTS), a division of Cubic Corporation, has officially opened the new Global Software Engineering Centre in Perth, Australia. CTS President Jeff Lowinger and Senior Vice President of Product and Engineering Galen Chui were in attendance to welcome the team to the new location. Over the past several years, CTS has expanded its presence in the Western Australian capital and now employs more than 60 highly skilled people who play an integral part in the business's global success. "It's an exciting day for our Perth team as they move into their new CBD location with more space and room to grow as we support our customers from Queensland to San Francisco and London," Lowinger said. "As a global business, it's important that we find the best people to enable our customers to succeed, and our team in Perth is no exception. In October this year, we announced that New Zealand had chosen Cubic to provide the national ticketing solution. Our experts in Perth are a key part of this project and many more around the globe, so I'm proud to see them moving to an advanced new facility." Added Chui: "Our CTS team in Perth, led by Aleksander Dimitrijevic, has long been a huge success story for Cubic as more cities — and now even countries — choose our account-based ticketing solutions for their public transport. We need the right software and product engineers for the job, and they need the right tools and facilities to do their job, which makes opening our new Global Software Engineering Centre very important. Western Australia, with its world-class universities, robust economy and attractive, active lifestyle, is a strong source of talent and was one of the key reasons Cubic is making this investment. Whether the team is working on complex software engineering solutions for our goCard customer in Queensland or creating new hardware for customers in San Francisco, they are the best in the business. I'm excited to be here to open the new facility in Perth." The new facility at 263 Adelaide Terrace in Perth's CBD will provide the space and facilities for the global team to continue building world-class transportation solutions. The Global Centre was officially opened on Monday, 12 December, and will accommodate the team of 65 CTS employees and allow for new testing and product engineering areas. About Cubic Cubic creates and delivers technology solutions in transportation that make people's lives easier by simplifying their daily journeys, and defense capabilities that help promote mission success and safety for those who serve their nation. Led by our talented teams around the world, Cubic is driven to solve global challenges through innovation and service to our customers and partners. Part of Cubic's portfolio of businesses, Cubic Transportation Systems (CTS) is an industry-leading integrator of payment and information solutions and related services for intelligent travel applications. CTS delivers integrated systems for transportation and traffic management, delivering tools for travelers
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Shareholder Alert: Robbins LLP Informs Investors of Class Action Against Officers and Directors of NewAge, Inc. (NBEVQ)

SAN DIEGO--(BUSINESS WIRE)--The Class: Robbins LLP informs investors that a shareholder filed a class action on behalf of all investors who purchased NewAge, Inc. (OTC: NBEVQ) securities between January 18, 2018 and October 18, 2022, for violations of the Securities Exchange Act of 1934. NewAge purports to produce and sell various beverages and other health products. What Now: Similarly situated shareholders may be eligible to participate in the class action against the officers and directors of NewAge. Shareholders who want to act as lead plaintiff for the class must file their papers by February 6, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. What is this Case About: The Officers and Directors of NewAge, Inc. (NBEVQ) Caused the Company to Issue False and Misleading Statements Regarding its Business Prospects According to the complaint, during the class period, defendants made a series of false and misleading statements concerning distribution agreements and partnerships with the U.S. military, expanded distribution of products to "all major retailers throughout Canada…", and agreements "with the largest food and beverage distributor in South Korea to expand to all major retail outlets throughout the country immediately." Defendants also made misleading statements regarding testing and developing CBD-infused beverages. Finally, defendants made misleading statements regarding its distribution agreement with Walmart. In December 2020, NewAge completed its acquisition of Ariix. Thereafter, it developed concerns that Ariix had violated the Foreign Corrupt Practices Act (“FCPA”). In August 2021, NewAge made a voluntary self-disclosure of suspected FCPA issues to the U.S. Department of Justice and the SEC. The Company further disclosed that as of June 30, 2021, a material weakness existed relating to the Company's “failure to design and implement monitoring activities over the acquisition of Ariix that resulted in the ability to issue our consolidated financial statements [. . .].” On January 10, 2022, NewAge announced defendant Brent Willis would resign as CEO, Director, and employee of the Company. NewAge announced it was filing for Chapter 11 bankruptcy relief on August 30, 2022. As a result, the Company's stock stopped trading on September 8, 2022. On October 18, 2022, the SEC announced it was taking legal action against defendant Willis as he engaged in a “multi-year fraud by disseminating numerous false and misleading press releases and making false public statements concerning NewAge’s business dealings, and aided and abetted NewAge’s disclosure of material information in violation of Regulation FD.” Contact us to learn more: Aaron Dumas (800) 350-6003 adumas@robbinsllp.com Shareholder Information Form About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable
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Columbia Care Releases First Corporate Social Responsibility Report

NEW YORK--(BUSINESS WIRE)--Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the U.S., announced it has released its first-ever Corporate Social Responsibility (CSR) report, Cultivate Impact. The report, which reflects on the past year, highlights local, national and industry initiatives that have made a positive impact specific to the Company’s focus areas: opportunity, inclusion, access and sustainability. “It is our responsibility as an industry leader to create a mission-driven framework for our company and demonstrate what cannabis and its workforce can do for the world. This report just scratches the surface of how we have strived to do just that,” said Nicholas Vita, CEO and Co-founder, Columbia Care. “I am so proud of the tremendous work our teams have put in across the country to make a difference not only in the cannabis industry but also in the local communities where we operate.” Columbia Care’s CSR work centers around four key principles: “opportunity”, which focuses on bringing social justice, education and entrepreneurship opportunities to cultivate the inclusive cannabis industry of the future; “inclusion”, which celebrates authenticity and different perspectives that drive the Company and industry forward; “access”, which is a commitment to ending stigmas and ensuring that cannabis is made available to those who need it; and “sustainability”, which creates more sustainable practices through innovation and working with environmentally-responsible partners. “From social justice to medical accessibility and beyond, we’ve worked diligently from the local neighborhood dispensary level to a multi-state scale to help bring about positive change,” said Ngiste Abebe, VP of Public Policy, Columbia Care. “In addition to our mission-driven employees, we’ve also been really lucky to find strategic partners and vendors who have helped make this work possible. This report is just a start; we look forward to continuing this important work in the future.” For more information, visit www.columbia.care/about-us/our-impact. About Columbia Care Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 17 U.S. jurisdictions. Columbia Care operates 132 facilities including 99 dispensaries and 33 cultivation and manufacturing facilities, including those under development. Columbia Care is one of the original multi-state providers of medical cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the company launched Cannabist, its new retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, Amber and Platinum Label CBD. For more information on Columbia Care, please visit www.columbia.care. Caution Concerning Forward-Looking Statements This press release contains certain statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking
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Organigram Wins KIND Magazine’s Cannabis Company of the Year Award and Most Innovative Product of the Year for Edison JOLTS

TORONTO--(BUSINESS WIRE)--Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of a leading licensed producer of cannabis (the “Company” or “Organigram”), is pleased to announce it has won KIND Magazine’s (“KIND”) Cannabis Company of the Year award. Considered KIND’s marquee award, Cannabis Company of the Year is presented to the licensed producer that the KIND editorial team believes demonstrates the best combination of people, purpose and product in a given year. “We are very proud to be recognized by KIND Magazine,” says Beena Goldenberg, CEO, Organigram. “The Cannabis Company of the Year award is particularly special because it not only acknowledges Organigram as a top performing licensed producer, but also celebrates the high-quality of our talented employees from coast-to-coast. Likewise, the award is unique as it considers ‘purpose’, recognizing Organigram’s commitment to doing good in the communities we serve.” In addition to the Cannabis Company of the Year award, the Company’s Edison Cannabis Co. brand’s Edison JOLTS, Canada’s first high-potency lozenge, received the Most Innovative Product of the Year. This award is voted on by budtenders and retail owners from across Canada. “We are excited to receive these accolades from some of the most influential voices in the industry, including both the KIND editorial team and our industry’s retailers and budtenders,” says Eric Williams, Senior Director of Marketing, Organigram. “We share KIND’s commitment to making cannabis a part of Canadian culture and are proud to be recognized by the hard-working retailers and talented budtenders who bring their expertise and passion to support Canadians’ experience of our products every day.” Organigram was nominated in two other categories including Hash of the Year for the Company’s Tremblant Hash and CBD Brand of the Year for its wellness brand, Monjour. “It felt great to select Organigram for our KIND Cannabis Company of the Year because they do everything with love — you just know it's a company that cares for our community,” says Joshua Nagel, Founder & Chief Dream Officer at KIND. “They had an impressive year, both from a financial and market share growth perspective, and have also built beloved consumer brands including Edison, SHRED and Big Bag o’ Buds, but that's just the half of it. They're also great human beings to work with and we were impressed with their commitment to helping their local communities: Organigram is the kind of company that makes all of us at KIND happy to be working in weed.” For more information about Organigram or its brands, please visit organigram.ca. About Organigram Holdings Inc. Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused edibles in Canada. Organigram is focused on producing high-quality, cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend
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Columbia Care Opens Sixth Dispensary in Virginia

NEW YORK--(BUSINESS WIRE)--Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the U.S., announced it has opened Cannabist Williamsburg on 409 Bypass Road, the Company’s sixth of 12 planned dispensaries in Virginia and 85th active dispensary nationwide. “As Virginia’s medical market continues to grow, we are proud to make another location option available for patients,” said Jesse Channon, Chief Growth Officer, Columbia Care. “We specifically designed the Cannabist retail model to engage patients wherever they might be in their cannabis journey and offer a less intimidating experience from the moment they walk in the door. Virginia has been such a welcoming state for us, and we are incredibly grateful for the support from local legislators, patients and the Board of Pharmacy.” Cannabist Williamsburg offers a variety of Columbia Care products including Classix, Seed & Strain, and Hedy, the Company’s newest edibles brand. Columbia Care and Green Leaf Medical are licensed to operate a market-leading total of 12 dispensaries in Virginia. To support this retail footprint, the Company operates nearly 148,000 square feet of cultivation and production capacity and has a fleet of delivery vehicles able to serve the entire state. For more information, visit www.gocannabist.com/williamsburg. About Columbia Care Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 17 U.S. jurisdictions. Columbia Care operates 132 facilities including 99 dispensaries and 33 cultivation and manufacturing facilities, including those under development. Columbia Care is one of the original multi-state providers of medical cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the company launched Cannabist, its new retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, Amber and Platinum Label CBD. For more information on Columbia Care, please visit www.columbia.care. Caution Concerning Forward-Looking Statements This press release contains certain statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to the Company’s ability to execute on retail, wholesale, brand and product initiatives in Virginia. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. These risks, uncertainties and other factors include, among others, favorable operating and economic conditions; obtaining and maintaining all required licenses and permits; favorable production
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EQUITY ALERT: ROSEN, A TOP RANKED LAW FIRM, Encourages NewAge, Inc. Investors to Inquire About Securities Class Action Investigation – NBEVQ, NBEV

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of NewAge, Inc. (OTC: NBEVQ) (NASDAQ: NBEV) resulting from allegations that NewAge may have issued materially misleading business information to the investing public. SO WHAT: If you purchased NewAge securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=10143 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. WHAT IS THIS ABOUT: On October 18, 2022, the SEC announced that it was taking legal action against NewAge’s former Chief Executive Officer (“CEO”), Brent Willis. The SEC alleged that he engaged in a “multi-year fraud by disseminating numerous false and misleading press releases and making false public statements concerning NewAge’s business dealings [. . .].” The allegations focused on numerous false statements made by NewAge’s CEO and other NewAge officers stating that the Company, among other things, had developed a line of CBD-infused beverages, had a business relationship with the U.S. military, and distribution agreements with various major retailers around the world. The SEC followed up on October 19, 2022, by announcing that it had instituted legal proceedings against NewAge, enjoining it from further violations of the relevant securities laws. In anticipation of these proceedings, NewAge submitted a settlement offer, which the SEC has accepted. On this news, NewAge’s stock plummeted 93% on October 20, 2022, during intraday trading. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome.
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ADDING MULTIMEDIA MyMD Pharmaceuticals® to Present Data on Oral TNF-a Inhibitor MYMD-1® at the British Society for Immunology (BSI) Congress 2022

BALTIMORE--(BUSINESS WIRE)--MyMD Pharmaceuticals, Inc.® (Nasdaq: MYMD) (“MyMD” or “the Company”), a clinical stage biopharmaceutical company developing groundbreaking therapies for the treatment of serious and debilitating autoimmune and inflammatory diseases, is presenting data today at the 2022 British Society for Immunology (BSI) Congress in Liverpool, England. Results from preclinical and clinical studies showed that MYMD-1 was safe and well-tolerated in healthy subjects and significantly reduced inflammation in a mouse model compared to the widely used arthritis treatment etanercept (Enbrel®). These findings support the continued evaluation of MYMD-1® for autoimmune and inflammatory disorders. The studies were designed to investigate the safety and pharmacology profile of MYMD-1. In a preclinical study, repeat oral administration to mice in a collagen antibody induced arthritis (CAIA) model at 450 mg/kg/day significantly reduced the clinical score and paw swelling when compared to the CAIA disease control. In-life results showed percent change of inflammation relative to control was reduced by 37% with MYMD-1 while reduction was 29% with etanercept at 10 mg/kg/day. In a clinical study of healthy adults, single daily oral doses each of 150 mg, 300 mg, and 450 mg for 3 days and multiple daily doses of 600 mg for 6 days were safe and well-tolerated. “
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MyMD Pharmaceuticals® to Present Data on Oral TNF-a Inhibitor MYMD-1® at the British Society for Immunology (BSI) Congress 2022

BALTIMORE--(BUSINESS WIRE)--MyMD Pharmaceuticals, Inc.® (Nasdaq: MYMD) (“MyMD” or “the Company”), a clinical stage biopharmaceutical company developing groundbreaking therapies for the treatment of serious and debilitating autoimmune and inflammatory diseases, is presenting data today at the 2022 British Society for Immunology (BSI) Congress in Liverpool, England. Results from preclinical and clinical studies showed that MYMD-1 was safe and well-tolerated in healthy subjects and significantly reduced inflammation in a mouse model compared to the widely used arthritis treatment etanercept (Enbrel®). These findings support the continued evaluation of MYMD-1® for autoimmune and inflammatory disorders. The studies were designed to investigate the safety and pharmacology profile of MYMD-1. In a preclinical study, repeat oral administration to mice in a collagen antibody induced arthritis (CAIA) model at 450 mg/kg/day significantly reduced the clinical score and paw swelling when compared to the CAIA disease control. In-life results showed percent change of inflammation relative to control was reduced by 37% with MYMD-1 while reduction was 29% with etanercept at 10 mg/kg/day. In a clinical study of healthy adults, single daily oral doses each of 150 mg, 300 mg, and 450 mg for 3 days and multiple daily doses of 600 mg for 6 days were safe and well-tolerated. “
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Neil Kiely named Swisher President & CEO

JACKSONVILLE, Fla.--(BUSINESS WIRE)--The Board of Directors of Swisher has announced two appointments to its Executive Leadership Team. Neil Kiely was named President & CEO after serving the past year as President. Additionally, Jeffrey Brown has taken the position of Executive Vice President of Swisher Sales. Brown was previously the General Manager of E-Alternative Solutions, LLC (EAS), a sister company of Swisher. As President & CEO, Kiely leads the strategic growth, transformation, and diversification of Swisher’s robust portfolio of products for adult consumers in a variety of lifestyle categories, bringing over three decades of experience growing and transforming consumer packaged goods (CPG) companies. Kiely has rapidly set the strategic framework for Swisher’s transformation into new categories, emerging channels, and the e-commerce space. One of Kiely’s first moves as President & CEO was to tap Brown, who brings more than 37 years of industry and leadership experience in several CPG categories, including cigars, e-vapor and CBD – to lead Swisher Sales. At EAS, Brown was responsible for developing and staffing the team from the ground up and developing and implementing strategic plans for new products. “Jeff has shown tremendous growth since joining EAS in 2014 and has demonstrated the leadership and acumen required for managing Swisher’s global sales strategy,” said Kiely. “Between his experience leading large sales teams and introducing new products in innovative ways, Jeff has earned this opportunity and is well equipped to lead us as we continue to transform and diversify our product portfolio.” The Kiely and Brown appointments follow the recent transition of Chris Howard to the role of Executive Vice President, External Affairs and New Product Compliance. Kiely, Brown, and Howard are part of the company’s executive leadership team, which comprises Jacinta Carter, Executive Vice President, Human Resources, People & Culture; Christopher Casey, Executive Vice President, Legal/General Counsel; and Edward Barlow, Senior Vice President, Operations. About Swisher: Swisher is an international leading lifestyle company for adult consumers. Best known for their Swisher Sweets Cigars, the company is headquartered in Jacksonville, Florida with a global manufacturing presence in Santiago, Dominican Republic; Esteli, Nicaragua and Wheeling, West Virginia. Swisher’s superior customer relationships matched with an unwavering commitment to innovative thinking and action have driven the company to grow and adapt to the evolving preferences of adult consumers for over 162 years. Visit https://swisher.com/about/ to learn more.
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OLCC METRC Batch Tagging

METRC Batch Tagging AGENDA & PROPOSED RULE 10:00 AM – 11:00 AM Monday, December 19, 2022 Location: Virtual – Microsoft Teams meeting Click here to join the meeting on Teams Or call in (audio only): 1-323-553-3576; Access Code: 649575093# Currently, OLCC producers and medical growers reporting in METRC are required to use single-use RFID tags on Read the full article...
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Governor Whitmer Announces New Social Equity Program Enhancement in the Cannabis Industry

MICHIGAN: The Cannabis Regulatory Agency (CRA) is committed to continuous improvement and announced today a new process by which social equity program participants – whose prequalification status has expired – are now eligible to apply anew for prequalification without having to pay an additional application fee. “Removing this barrier to entry for social equity program Read the full article...
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Springbig Announces Cost Reduction Actions to Accelerate Path to Profitability and Strengthen Financial Profile

FLORIDA: SpringBig Holdings, Inc., a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omni-channel loyalty programs to the cannabis industry, today announced that the company is undertaking a series of initiatives to reduce costs and drive efficiency in order to accelerate its path to profitability. These cost-cutting measures will allow the company Read the full article...
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IGC Commences Phase 2 Clinical Trials Evaluating Drug Candidate IGC-AD1 for the Treatment of Agitation in Dementia From Alzheimer’s Disease

POTOMAC, Md.--(BUSINESS WIRE)--India Globalization Capital, Inc. (NYSE American: IGC) (“IGC” or the “Company”), announced that it has begun “A Phase 2, Multi-Center, Double-Blind, Randomized, Placebo-Controlled, Trial of the Safety and Efficacy of IGC-AD1 on Agitation in Participants with Dementia due to Alzheimer’s Disease”. The Company has commenced the Phase 2 study at two U.S. sites with plans to add between three to five additional sites in the United States, Canada, and possibly South America to increase population diversity, promoting both the inclusion of underrepresented populations and helping the Company to better understand the impact of IGC-AD1 on the population of the Americas. The trial will enroll 146 patients with one half, the treated group, receiving IGC-AD1, and the other half, the control group, receiving a placebo. The goal of the trial is to evaluate and establish the efficacy of IGC-AD1 in helping patients with Alzheimer’s dementia reduce neuropsychiatric symptoms (“NPS”) such as agitation, which affects 76% of individuals with Alzheimer’s (Mussele et al., 2015). Currently, there is no Food and Drug Administration (“FDA”) approved drug for treating agitation in dementia related to Alzheimer’s (Jones et al., 2021). “We believe that IGC-AD1 has the potential to revolutionize the treatment of Alzheimer’s Disease as the first and only low-dose natural THC-based formulation candidate currently undergoing FDA trials,” commented Ram Mukunda, CEO of IGC. “Approximately 8 million people are affected by Alzheimer’s in North America and over 55 million worldwide. We believe the diverse population we have selected for this study will allow us to accurately look at both the impact of variations of the gene CYP2C9 that metabolizes THC, as well as APOE e4 a gene that increases the risk of developing Alzheimer’s. This data will help us to further understand the metabolism of IGC-AD1 for a diverse population, which is important in treating a disease that has a global impact like Alzheimer’s. Through these and further trials, we look forward to establishing IGC-AD1’s efficacy in treating the symptoms related to Alzheimer’s Disease.” IGC-AD1 relies on low-doses of THC, a psychoactive cannabinoid, and another compound as active agents in trials for Alzheimer’s. The formulation has recently completed Phase 1 of clinical trials required by the FDA and demonstrated in Alzheimer’s cell lines the potential to be effective in suppressing or ameliorating a key protein that is responsible for Aβ plaques; a key hallmark of the disease. For further information, please visit https://clinicaltrials.gov/ct2/results?cond=&term=IGC-AD1&cntry=&state=&city=&dist= Conference Call Details Management will host a conference call and webcast with an accompanying slide presentation on Friday, December 2, 2022, at 11:00 a.m. ET. Interested investors may participate via the webcast using the following link: https://www.webcaster4.com/Webcast/Page/2938/47255 To participate via conference call, please use the following dial-in numbers and use access code 638516 when prompted by the operator. (888) 506-0062 (Domestic) (973) 528-0011 (International) A replay of the call will also be available at the above link. About IGC India Globalization Capital
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PureTech Announces New Therapeutic Candidate, LYT-310, an Oral Form of Cannabidiol (CBD) Leveraging PureTech’s Glyph™ Platform

BOSTON--(BUSINESS WIRE)--PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the treatment paradigm for devastating diseases, today announced the nomination of a new therapeutic candidate, LYT-310, which is an oral cannabidiol (CBD) prodrug and the second therapeutic candidate developed from PureTech’s Glyph™ platform to be advanced toward the clinic. Clinical studies of LYT-310 are expected to begin in Q4 of 2023. A CBD-based product has received regulatory approval in the United States and Europe to treat seizures resulting from certain rare conditions, but it requires a large volume of a sesame oil-based formulation, which limits its use in broader indications and age groups. PureTech’s LYT-310 is designed to greatly expand the therapeutic application and potential of CBD by: enabling oral administration in a capsule; expanding the use of CBD into a broad range of therapeutic areas and patient populations (such as adolescents and adults) where higher doses are required to achieve a therapeutic effect; potentially improving safety and reducing gastrointestinal (GI) tract side effects that are associated with the currently approved CBD-based treatment by reducing GI and liver exposure; and allowing for a readily scalable, consistent product in a cost-effective manner. “The nomination of LYT-310 is an exciting expansion of PureTech’s Glyph technology,” said Daniel Bonner, Ph.D., Vice President at PureTech Health. “The data generated to date with LYT-310 further demonstrate our ability to apply the Glyph technology to an array of molecules to enable or greatly enhance oral bioavailability. This approach allows us to unlock the therapeutic potential of a range of molecules with validated efficacy whose development has been limited by first pass metabolism by the liver.” In multiple preclinical models, including large animal and non-human primate, LYT-310 has demonstrated a three to fourfold increase in oral exposure vs. unmodified CBD in a fasted state. This has the potential to translate into improved safety and reduced side effects. Lymphatic transport has also been confirmed in preclinical models, with up to 30% of LYT-310 entering the lymphatics, compared to 5% for unmodified CBD – which further supports the novel Glyph mechanism of enhancing bioavailability. The first candidate from the Glyph technology platform, LYT-300 (oral allopregnanolone), is currently being evaluated in a multi-part Phase 1 trial designed to demonstrate oral bioavailability, evaluate safety and tolerability across a range of doses, and to inform dose selection moving forward. The first objective was achieved earlier this year, and LYT-300 demonstrated oral bioavailability of allopregnanolone approximately ninefold greater than that of orally administered allopregnanolone, based on previously published data. The Phase 1 clinical trial is expected to be completed by the end of 2022, and – based on the data – a Phase 1b/2a clinical trial is planned to initiate in 2023. About the GlyphTM Platform Glyph is PureTech’s synthetic lymphatic-targeting chemistry platform which is designed to employ the lymphatic system’s natural lipid absorption and transport process
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Growth Opportunities in Nanomaterials and Nanocoatings: Multi-Walled Carbon Nanotubes Show Great Promise – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in Nanomaterials and Nanocoatings" report has been added to ResearchAndMarkets.com's offering. This issue of the Nanotechnology Opportunity Engine covers growth opportunities in nanomaterials and nanocoatings. The TOE focuses on multi-walled carbon nanotubes that promise enhanced dispersibility in a wide range of organic solvents, a silver nanoparticle ink that delivers low electrical resistance and temperature sintering, an electrochemical technique for producing low-cost carbon nanotubes from carbon dioxide, and a water-based multilayer nanocoating that promises desired mechanical properties in textile substrates. The TOE also covers an invisible fluorescent nano-ink-based identifier/tag, a nanomaterial-based cost-effective water purification unit, a recyclable and durable dielectric nanolayer film, and a nano emulsion technology for manufacture of cannabidiol-based beverages. The Nanotechnology Opportunity Engine provides intelligence on technologies, products, processes, applications, and strategic insights on nanotechnology-related innovations and their impact across various industries. Technology focus areas include nanocatalysts, antimicrobials, nanocellulose, and nanoplatelets. The Chemicals and Advanced Materials cluster tracks research and innovation trends and developments across specialty chemicals, plastics, polymers, chemicals, bio-chemicals, metals, coatings, thinfilms, surface treatments, composites, alloys, oil and gas, fuel additives, fibers, and several other related technologies and its impact and application across industries. Key Topics Covered: Technology Advances in Nanomaterials and Nanocoatings Nanomaterials Offering An Alternative to Rare Earth Metals and Delivering High Conductivity and Transparency Environmental and Energy Benefits Driving Technological Advancement Meta Materials Inc. - Investor Dashboard Multi-Walled Carbon Nanotubes Promising Enhanced Dispersibility in a Wide Range of Organic Solvents Developed Mwnt Can Potentially Reduce Processing Time and Cost in Industrial Applications Glonatech - Investor Dashboard Silver Nanoparticle Ink Delivering Low Electrical Resistance and Temperature Sintering Nanoparticle Based Ink Offering An Alternative to Commercial Silver Inks for Screen Printing and Inkjet Printing Daicel Corporation - Investor Dashboard Electrochemical Technique Promising to Produce Low-Cost Carbon Nanotubes from Carbon Dioxide Electrochemical Process Offering a Cost-Effective and Less Energy-Intensive Process for Converting Co2 to Cnt Skynano - Investor Dashboard Fullerite Gel Offers Superhydrophobic Surfaces Superhydrophobic Nanomaterials with Easy Fabrication and Processing from Ucf Water-Based Multilayer Nanocoating Promising Desired Mechanical Properties in Textile Substrates Nanocoating Offering Multi-Protective Characteristics for Textiles Invisible Fluorescent Nano-Ink-Based Identifier/Tag Arylla's Invisible Identifier/Tag for Seamless Integration with Product Labels and Software for Digital Tracking Arylla - Investor Dashboard Nanomaterial-Based Cost-Effective Water Purification Unit Nanomembrane Filtration Technology for Rapidly Purifying Sea and Brackish Water in Less Than 5 Minutes Nanoseen - Investor Dashboard Recyclable, Durable Dielectric Nanolayer Film Sustainable Yet Highly Effective Dielectric Film That is in Par with Other Competing Technologies Peak Nanosystems - Investor Dashboard Nanoemulsion Technology for Manufacturing Cbd-Basedbeverage Nanoemulsion Technology Can be Used for Manufacture of Various Cannabis-Based Products Hemprise - Investor Dashboard
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Moonstone Bank Issues Statement Regarding Alameda Research Ventures, LLC

FARMINGTON, Wash.--(BUSINESS WIRE)--Farmington State Bank d.b.a Moonstone Bank today issued a statement addressing questions and correcting inaccurate and unsupported allegations around an investment in FBH Corporation, the bank’s holding company, made by Alameda Research Ventures, LLC in January 2022. Moonstone Bank (Farmington State Bank) is a 135-year-old bank that, since its 2020 acquisition by FBH Corporation, embraced an innovative startup business model, with the goal to serve new customers in underserved industries, such as digital assets and hemp/cannabis businesses. The new model leverages management and technology, built and selected for purpose, to safely and soundly support these innovative businesses and consumers. Throughout our history and throughout the recent process of transforming our business model, we have remained in close communication with our regulators and have built robust processes, programs, and controls to ensure all our activities comply with all applicable laws and regulations. In January this year, as a result of a capital raise effort to support our further development, we received an investment from a company that at the time had a pristine reputation and was a darling of the financial markets. Unfortunately, the unexpected collapse of this company negatively impacted countless individual investors, investment firms, vendors, counterparties and unfairly affected Farmington State Bank d.b.a Moonstone Bank’s reputation as well. Alameda has a non-controlling interest in Moonstone, with no board membership and no involvement with management. As every startup, we sought to raise capital to fund our business plan and growth. In January 2022, Alameda Research Ventures, LLC invested $11.5 million in Moonstone (through FBH, Moonstone’s holding company) for a non-controlling minority common-share interest (under 10%). Alameda has remained a passive investor, with no board membership and with no involvement in management. As it appears now from documents made public, Alameda Research/FTX deployed more than $2 billion in venture capital across 179 investments, in regard of which the investment in our company represents less than 0.6%. Moonstone’s valuation was consistent with other similar technology Banks and Trust Banks startups at the time. Because of Moonstone’s technology and data first strategy, solving for a known gap in banking, and the large potential it offers, the bank was seen as a financial technology bank and valued as such, with a multiple typical for similar entities. Other similar technology driven Bank and Trust Bank startups achieved significantly higher valuations during the same period, including multiple pre-launch, pre-revenue start-ups. Jean Chalopin, individually and without any connection to Deltec Bank acquired Farmington State Bank (Moonstone) following all appropriate regulatory requirements. In mid-summer 2018, Mr. Chalopin individually and without any connection to or without any involvement to Deltec International Group and its subsidiaries, began searching to acquire a bank in the United States to develop a new model of banking in which he strongly believes, to capitalize on the convergence of technologies and regulations to ensure needed and reliable banking services to customers. Mr. Chalopin followed standard procedures for acquiring a United States bank pursuant to
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