This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange gained 6.09 points to 767.85 Tuesday. Murray Moore's first capital pool shell, Colson Capital Corp. (COLS: halted), plans to acquire Honest Inc., doing business as Province Brands of Canada, for the shell's qualifying transaction. Province Brands is a company in Toronto that is working on marijuana beer that will get you high but not drunk. The terms of the QT are not yet available, but Province Brands must raise at least $5-million before the deal can close. It has thus arranged an $11.5-million private placement of unsecured convertible 8-per-cent notes. (It has not yet stated the issue price or conversion price.) Province Brands and Colson Capital are giving themselves until Aug. 31 to upgrade their letter of intent into a definitive agreement.

Province Brands' competitors typically infuse marijuana extracts into beer. Province Brands, however, has come up with a patent-pending process for making so-called beer using marijuana instead of barley. Its products are therefore non-alcoholic but, because of the marijuana, still psychoactive. Province Brands says it has two prototypes, an imperial pilsner and a blonde ale. It is working with Loyalist College of Belleville, Ont., to develop the recipes. In February, Loyalist received a $300,000 grant from the Ontario government for this research and development project. Loyalist Prof. Kari Kramp says non-alcoholic marijuana-brewed beer could have a nutty taste, but it is still too early to say for sure. Province Brands aims to have saleable products in the second half of 2019, when marijuana edibles are expected to be legalized in Canada for recreational consumers.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS