Sam Dan
4 years ago
NOT ONLY IS THE COMPANY RAISING SIGNIFICANT SUMS OF MONEY TO EXPAND PRODUCTION OF MARIJUANA, BUT MANAGEMENT IS TAKING SIGNIFICANT POSITIONS IN THE PP. ALWAYS AN ENCOURAGING SIGN!
"MPX International Corp., due to additional investor demand, has increased the amount of the previously announced non-brokered private placement offering of units of the corporation at a price of $1,360 ($1,000 (U.S.)) per unit to a maximum amount of $10.2-million ($7.5-million (U.S.)).
The corporation has issued a total of 5,000 units for aggregate gross proceeds of $10.03-million ($7,375,000 (U.S.)) from the closing of all tranches of the offering broken down as follows: first tranche which closed on June 30, 2020: 3,348 units for aggregate gross proceeds of $4,553,280 ($3,348,000 (U.S.)); second tranche which closed on July 31, 2020: 346 units for aggregate gross proceeds of $470,560 ($346,000 (U.S.)); third tranche which closed on Sept. 17, 2020: 800 units for aggregate gross proceeds of $1,088,000 ($800,000 (U.S.)); fourth tranche which closed on Oct. 20, 2020: 506 units for aggregate gross proceeds of $688,160 ($506,000 (U.S.)); fifth tranche which closed on Dec. 24, 2020: 2,229 units for aggregate gross proceeds of $3,031,440 ($2,229,000 (U.S.)); and sixth tranche which closed on Dec. 31, 2020: 146 units for aggregate proceeds of $198,560 ($146,000 (U.S.)). The corporation expects the remaining $170,000 ($125,000 (U.S.)) will close in early January, 2021.
The corporation intends to use the proceeds from the offering to finance product and facility development as well as for working capital and other general corporate purposes.
The units will be issued on the same terms as those previously announced at a price of $1,360 ($1,000 (U.S.)) per unit, with each unit consisting of one 12 per cent secured convertible debenture of the corporation in the principal amount of $1,360 ($1,000 (U.S.)) and 7,000 common share purchase warrants.
Each debenture shall bear interest at a rate of 12 per cent per annum from the date of issue, payable quarterly in arrears on the last day of March, June, September and December in each year. The amount of interest that becomes payable on the initial coupon date will represent accrued interest for the period from the applicable closing date to such initial coupon date. All accrued but unpaid interest as of each coupon date shall be payable by the corporation in cash and shall accrue interest at a rate of 12 per cent per annum. The principal amount shall be convertible, for no additional consideration, into common shares of the corporation at the option of the holder at any time prior to the earlier of: (i) 6 p.m. EST on the maturity date; or (ii) the business day immediately preceding the date specified by MPXI for redemption of the debentures at a conversion price equal to 12 cents per common share.
Each warrant entitles the holder thereof to purchase one common share at an exercise price of 20 cents for a period of 24 months from the closing date.
Insider participation
The fifth and sixth tranches of the offering can be considered a related party transaction for certain regulatory purposes. The participation by the insiders in the fifth and sixth tranches of the offering is summarized in the attached table.
Name Relationship to the Interest in the offering Common shares directly or Percentage of
corporation Amount $ Number of units indirectly, beneficially common shares of
owned or controlled MPXI
W. Scott Boyes Chairman, $6,800 (1) 5 4,655,350 3.28%
president, chief
executive officer
and a director
Alastair Director $282,880 (2) 208 8,134,472 5.73%
Crawford
Total $289,680 213 12,789,822 9.01%
(1) Mr. Boyes also participated in the second tranche of the offering acquiring 100 units for a subscription amount
of $136,000. In sum, Mr. Boyes has been issued a total of 105 units for an aggregate subscription amount
of $142,800.
(2) Mr. Crawford's participation in the fifth tranche of the offering was as follows: (a) 200 units issued to
Puddles 7 Ltd., a company in which Mr. Crawford holds a majority interest.
Mr. Crawford's participation in the sixth tranche of the offering is broken down as follows: (a) seven units issued to Mr. Crawford; and (b) one unit issued to Puddles 7. Mr. Crawford also participated in the second tranche of the offering acquiring 112 units for a subscription amount of $153,320 and the fourth tranche of the offering acquiring 136 units broken down as follows: (a) 86 units issued to Mr. Crawford; and (b) 50 units issued to Puddles 7. In sum, Mr. Crawford has been issued a total of 456 units for an aggregate subscription amount of $622,880.
It is important to note that the offering is exempt from valuation and minority approval requirements which might otherwise result from the participation by insiders due to: (1) the corporation, as a Canadian Securities Exchange issuer, not being listed on a designated market; and (2) the fair market value of the offering, insofar as the offering involves such interested parties, is less than $2.5-million.
To the knowledge of the corporation, after reasonable inquiry, none of the related parties have knowledge of any material information concerning the corporation or its securities that has not been generally disclosed.
A special committee of independent directors reviewed the offering, and determined that as a CSE issuer MPXI is not listed on a specified market and the fair market value of the offering, insofar as it involves related parties, is not more than $2.5-million. The special committee unanimously recommended that the board of directors of the corporation approve the offering. Accordingly, the offering is exempt from minority shareholder approval and formal valuation requirements of MI 61-101.
The offering is closing in less than 21 days due to the limited number of subscribers to the offering, all subscription agreements being properly completed and received, and all subscription proceeds having been forwarded, which shorter period is reasonable in the circumstances. MI 61-101 requires, if a material change report is filed less than 21 days before the expected date of the closing of the transaction, an explanation to be provided why the shorter period is reasonable or necessary in the circumstances.
The securities issued pursuant to the offering and the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements.
About MPX International Corp.
MPX International is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry."
Sam Dan
4 years ago
MAJOR DEVELOPMENT by the company. Hopefully. the first of many new Markets being served by MPXI
"MPX International Corp. has completed its first delivery of cannabis flower pursuant to its production and distribution agreement with Panaxia Pharmaceutical Industries Israel Ltd., the largest manufacturer and distributor of medical cannabis products in Israel, for the packaging and distribution of cannabis which will be marketed and sold in Israel under Canveda's medical brand Salus BioPharma.
"MPXI has a long-standing relationship with Panaxia and welcomes the opportunity to market our brand in Israel as part of our international cannabis strategy," noted W. Scott Boyes, chairman, president and chief executive officer of MPX International. "Panaxia is a major player in the Israeli market and an emerging participant in the global cannabis space and we are honoured to be able to work with the Panaxia team on this and potentially other projects."
A first shipment of 100 kilograms of high-quality cannabis flower was shipped from Canada to Israel on Nov. 15 after receiving an export permit from Health Canada.
Panaxia uses high-quality cannabis flower to manufacture and distribute a variety of standardized, pharma-grade, smokeless, measured-dosage cannabinoid-based products, including sublingual tablets, slow release tablets, pastilles, rectal suppositories, vaginal suppositories, skin-care ointments, topical patches and oral spray inhalers.
The Salus BioPharma products will be sold to patients with a variety of conditions such as PTSD, chronic pain, cancer, epilepsy, Parkinson's, Alzheimer's, anorexia and HIV/AIDS.
"We are proud to be collaborating on this project with our Canadian partners, MPX International Corp. and expand our cooperation in Israel and potentially other international markets. As an experienced pharmaceutical company and the largest manufacturer and distributor of medical cannabis products in Israel, we are committed to providing premium, standardized and scientifically backed pharmaceutical cannabis products to our partners and patients worldwide. MPXI leads the pharmaceutical approach to medical cannabis in Canada, which makes them a natural partner for distribution of high-quality pharmaceutical cannabis products in Israel," said Assi Rotbart, general manager of Panaxia.
"We have delivered our initial 100 kg of bulk high-quality sativa and indica cannabis strains as an initial foray into the Israeli market. Panaxia will be responsible for quality control, packaging and distribution of Salus BioPharma products in Israel," said Michael Arnkvarn, chief operating officer, Canada, of MPXI. "The Salus BioPharma brand is our premier medical brand and we are excited to commence international distribution of our Salus BioPharma products with Panaxia in Israel.
Following this initial foray into the international cannabis market, we are working to expand distribution of the Salus BioPharma Brand to additional international markets. We are now in the process of securing import and export permits for an additional 200 kg shipment in January of 2021."
Sam Dan
4 years ago
Final closure of PP
MPX International Corp. has completed the fourth and final tranche of its previously announced non-brokered private placement offering of units of the corporation at a price of $1,360 ($1,000 (U.S.)) per unit.
The corporation has issued a total of 5,000 units for aggregate gross proceeds of $6.8-million ($5-million (U.S.)) from the closing of all four tranches of the offering broken down as follows: first tranche -- 3,348 units for aggregate gross proceeds of $4,553,280 ($3,348,000 (U.S.)); second tranche -- 346 units for aggregate gross proceeds of $470,560 ($346,000 (U.S.)); third tranche -- 800 units for aggregate gross proceeds of $1,088,000 ($800,000 (U.S.)); and fourth tranche -- 506 units for aggregate gross proceeds of $688,160 ($506,000 (U.S.)).
The corporation intends to use the proceeds from the offering to finance product and facility development in Switzerland and retail expansion in Canada as well as for working capital and other general corporate purposes.
The units will be issued on the same terms as those previously announced at a price of $1,360 ($1,000 (U.S.)) per unit with each unit consists of one 12 per cent secured convertible debenture of the corporation in the principal amount of $1,360 ($1,000 (U.S.)) and 7,000 common share purchase warrants.
Each debenture shall bear interest at a rate of 12 per cent per annum from the date of issue, payable quarterly in arrears on the last day of March, June, September and December in each year, commencing Dec. 31, 2020.
The amount of interest that becomes payable on Dec. 31, 2020, will represent accrued interest for the period from the initial closing date to Dec. 31, 2020 . All accrued but unpaid interest as of each coupon date shall be payable by the corporation in cash and shall accrue interest at a rate of 12 per cent per annum. The principal amount, shall be convertible, for no additional consideration, into common shares of the corporation at the option of the holder at any time prior to the earlier of: (i) 6 p.m. (Eastern Standard Time) on the maturity date; or (ii) the business day immediately preceding the date specified by MPXI for redemption of the debentures at a conversion price equal to 12 cents per common share.
Each warrant entitles the holder thereof to purchase one common share at an exercise price of 20 cents for a period of 24 months from the closing date. The corporation and AST entered into a warrant indenture dated June 30, 2020, pursuant to which the warrants are created and issued.
Insider participation
The fourth tranche of the offering can be considered a related party transaction for certain regulatory purposes. The participation by the insiders in the second tranche of the offering is summarized in the table.
Name Relationship Interest in the offering Common shares directly Percentage of
to the corporation Amount C$ No. of units or indirectly, beneficially common shares
owned or control of MPXI
Alastair Director $184,960(1) 136 8,134,472 5.74%
Crawford
---------- --- --------- ----
Totals $184,960 136 8,134,472 5.74%
Note: (1) Mr. Crawford's participation in the fourth tranche of the offering will be broken down as
follows: (a) 86 units will be issued to Mr. Crawford; and (b) 50 units will be issued to Puddles 7
Ltd., a company in which Mr. Crawford holds a majority interest.
Mr. Crawford also participated in the second tranche of the offering acquiring 112 units for a
subscription amount of $153,320. In sum, Mr. Crawford has been issued a total of 248 units for an
aggregate subscription amount of $338,280.
It is important to note that the offering is exempt from valuation and minority approval requirements which might otherwise result from the participation by insiders due to: (1) the corporation, as a Canadian Securities Exchange issuer, not being listed on a designated market; and (2) the fair market value of the offering, in so far as the offering involves such interested parties, is less than $2.5-million.
To the knowledge of the corporation, after reasonable inquiry, none of the related parties have knowledge of any material information concerning the corporation or its securities that has not been generally disclosed.
A special committee of independent directors reviewed the offering and determined that as a Canadian Securities Exchange issuer MPXI is not listed on a specified market and the fair market value of the offering, in so far as it involves related parties, is not more than $2.5-million. The special committee unanimously recommended that the board of directors of the corporation approve the offering. Accordingly, the offering is exempt from minority shareholder approval and formal valuation requirements of MI 61-101.
The offering is closing in less than 21 days due to the limited number of subscribers to the offering, all subscription agreements being properly completed and received, and all subscription proceeds having been forwarded, which shorter period is reasonable in the circumstances. MI 61-101 requires if a material change report is filed less than 21 days before the expected date of the closing of the transaction, an explanation is to be provided why the shorter period is reasonable or necessary in the circumstances.
Sam Dan
4 years ago
Finally some news re Canadian distribution.
"(CNSX:MPXI.CN);(OTC:MPXOF), a multinational diversified cannabis company,is pleased to announce an agreement dated August 7, 2020 between Canveda Inc. ("Canveda"), a licence holder under the Cannabis Act (Canada), and Alberta Gaming, Liquor & Cannabis ( "AGLC") for the supply of cannabis under Canveda's recreational brand, Strain Rec(TM). Initially, Canveda will supply several strains of unique, high quality flower which will be sold by retail outlets in the Province of Alberta, as well as through AlbertaCannabis.org. Additional product SKUs will follow as Canveda's product offering diversifies. The agreement will continue until December 1, 2021, unless terminated earlier and may be extended upon mutual agreement of the parties for a maximum of 2 additional terms of up to 18 months each.
"We are very pleased to expand our Strain Rec(TM) brand offering into the Province of Alberta which has been very progressive in the cannabis retail space. We see this as a great opportunity for our products to become a main stay in the Canadian retail market," said Michael Arnkvarn, Chief Operating Officer, Canada of MPXI. "Following the successful introduction of the Strain Rec(TM) brand in Saskatchewan in June, this supply agreement is an important step in our overall retail strategy which we continue to develop. The first shipment of products to Alberta was sent last week and marketing efforts to retail outlets have commenced, with product expected to be available for purchase in every outlet.
"We feel that the private ownership concept of retail stores in Alberta will allow us more direct marketing opportunities and a quick acceptance of Strain Rec(TM) branded products by Alberta's retailers," noted W. Scott Boyes, Chairman, President and CEO of MPX International. "With agreements now in place for Alberta and Saskatchewan, we are in discussions to expand into other provinces to increase our reach to recreational customers in Canada. We are by no means shifting away from a medical focus of the cannabis business and we will continue to develop this sector to the fullest, both in Canada and internationally, but our past experience with MPX Bioceutical in the US has taught us that we need to be present in both the medical and adult use markets in order to optimize MPXI's Canadian growth strategy."
Sam Dan
4 years ago
Management of MPXI completes a firm deal for product to sell in Isreal.
"Zenabis Global Inc. has entered into a one-year supply agreement for high-quality cannabis flower with Canveda Inc., a wholly owned subsidiary of MPX International Corp.
The supply agreement between the parties provides Canveda with a minimum of 300 kg of cannabis flower per calendar quarter, and a maximum of 1,000 kg of cannabis flower per quarter. The first shipment from Zenabis Atholville of 100 kg will be made upon receipt of an export permit from Health Canada. All the required import permits from Israel have been issued to Canveda. These volumes were not included in Zenabis' estimate of international shipment volumes in the corporate update issued 10 August 2020, and as such are incremental volumes.
"MPX International Corporation is pleased to be able to count on Zenabis Ltd for a continued supply of premium Canadian cannabis as we develop different market opportunities" says Michael Arnkvarn, COO of MPXI Canadian Operations; "Zenabis has demonstrated their ability to be very pro-active and responsive to our requests."
Daniel Burns, Chair of the Board of Directors, commented, "We are excited to continue expanding our supply relationships beyond Canada. This incremental supply agreement, and in particular the binding delivery minimums, further demonstrate both the quality of our cannabis cultivation output, and our capacity for international bulk delivery."
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
About Zenabis Ltd.
Zenabis (TSX: ZENA) is a significant Canadian licensed cultivator of medical and recreational cannabis, Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis, and a propagator and cultivator of floral and vegetable products. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Delta, Aldergrove, Pitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space and four licensed facilities. Zenabis has 3.5 million square feet of total facility space dedicated to a mix of cannabis production and cultivation and its non-cannabis propagation and floral business.
Zenabis expects its Zenabis Atholville, Zenabis Stellarton and Zenabis Langley facilities to be in steady state production in 2020. The Zenabis brand name is used in the cannabis medical market, and the Namaste, Blazery, and Re-Up brand names are used in the cannabis adult-use recreational market."
Sam Dan
4 years ago
Finally some positive news from MPXI. Should help stabilize share price- [Famous last words}
"MPX's Canveda to sell cannabis products in Israel
Mr. Scott Boyes reports
MPX INTERNATIONAL' S WHOLLY-OWNED SUBSIDIARY, CANVEDA INC., ENTERS INTO AN AGREEMENT FOR THE MANUFACTURING AND DISTRIBUTION OF CANNABIS PRODUCTS IN ISRAEL
MPX International Corp.'s wholly-owned subsidiary, Canveda Inc., a licence holder under the Cannabis Act (Canada), has entered into a production and distribution agreement with Panaxia Pharmaceutical Industries Israel Ltd., the largest manufacturer and distributor of medical cannabis products in Israel, for the packaging and distribution of cannabis which will be marketed and sold in Israel under Canveda's medical brand Salus BioPharma.
"MPXI has a long-standing relationship with Panaxia and welcomes the opportunity to market our brand in Israel as part of our international cannabis strategy," noted W. Scott Boyes, Chairman, President and CEO of MPX International. "Panaxia is a major player in the Israeli market and an emerging participant in the global cannabis space and we are honored to be able to work with them on this initial project."
A first shipment of 100 kg of high-quality cannabis flower will be shipped from Canada to Israel as soon as an export permit from Health Canada is acquired. All the required import permits from Israel have been issued.
Panaxia uses high-quality cannabis flower to manufacture and distribute a variety of standardized, pharma-grade, smokeless, measured dosage cannabinoid-based products including sublingual tablets, slow release tablets, pastilles, rectal suppositories, vaginal suppositories, skincare ointments, topical patches and oral spray inhalers.
The Salus BioPharma products will be sold to patients with a variety of conditions such as PTSD, chronic pain, cancer, epilepsy, Parkinson's, Alzheimer's, anorexia and HIV/AIDS.
"We are proud to work on this project with our Canadian partners MPX International Corporation and expand our collaboration to the Israeli market. As an experienced pharmaceutical company and the largest manufacturer and distributor of medical cannabis products in Israel, we are committed to providing premium, standardized, and scientifically-backed pharmaceutical cannabis products to our partners and patients worldwide. MPXI leads the pharmaceutical approach to medical cannabis in Canada, which makes them a natural partner for distribution of high-quality pharmaceutical cannabis products in Israel," said Assi Rotbart, GM of Panaxia.
"We will be shipping our initial 100 kg of bulk high-quality Sativa and Indica cannabis strains to test the market in Israel. Panaxia will be responsible for quality control, packaging and distribution of Salus BioPharma products," said Michael Arnkvarn, COO, Canada of MPXI. "The Salus BioPharma brand is our premier medical brand and we are excited to commence international distribution of our Salus BioPharma products with Panaxia in Israel. Following this initial foray into the international cannabis market, we are working to expand distribution of the Salus BioPharma Brand to additional international markets."
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
Sam Dan
4 years ago
A revenue agreement will be positive for MPXI. Finally some positive news.
"Zenabis Global Inc. has entered into a one-year supply agreement for high-quality cannabis flower with Canveda Inc., a wholly owned subsidiary of MPX International Corp.
The supply agreement between the parties provides Canveda with a minimum of 300 kg of cannabis flower per calendar quarter, and a maximum of 1,000 kg of cannabis flower per quarter. The first shipment from Zenabis Atholville of 100 kg will be made upon receipt of an export permit from Health Canada. All the required import permits from Israel have been issued to Canveda. These volumes were not included in Zenabis' estimate of international shipment volumes in the corporate update issued 10 August 2020, and as such are incremental volumes.
"MPX International Corporation is pleased to be able to count on Zenabis Ltd for a continued supply of premium Canadian cannabis as we develop different market opportunities" says Michael Arnkvarn, COO of MPXI Canadian Operations; "Zenabis has demonstrated their ability to be very pro-active and responsive to our requests."
Daniel Burns, Chair of the Board of Directors, commented, "We are excited to continue expanding our supply relationships beyond Canada. This incremental supply agreement, and in particular the binding delivery minimums, further demonstrate both the quality of our cannabis cultivation output, and our capacity for international bulk delivery."
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
About Zenabis Ltd.
Zenabis (TSX: ZENA) is a significant Canadian licensed cultivator of medical and recreational cannabis, Zenabis is a significant Canadian licensed cultivator of medical and recreational cannabis, and a propagator and cultivator of floral and vegetable products. Zenabis employs staff coast-to-coast, across facilities in Atholville, New Brunswick; Delta, Aldergrove, Pitt Meadows and Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space and four licensed facilities. Zenabis has 3.5 million square feet of total facility space dedicated to a mix of cannabis production and cultivation and its non-cannabis propagation and floral business.
Zenabis expects its Zenabis Atholville, Zenabis Stellarton and Zenabis Langley facilities to be in steady state production in 2020. The Zenabis brand name is used in the cannabis medical market, and the Namaste, Blazery, and Re-Up brand names are used in the cannabis adult-use recreational market."
Sam Dan
4 years ago
Interesting extension of MPXI in educational access development
"“MPXI” or the “Corporation”) (CSE:MPXI) (OTCQX:MPXOF), a multinational diversified cannabis company, is pleased to announce that its wholly-owned subsidiary, 2702148 Ontario Inc. dba Medical Cannabis Learning Network (“MCLN”), a leading Canadian private web-based cannabis portal, has entered into a non-exclusive agreement dated July 15, 2020 (the “Agreement”) with Miramedia Retail Inc. (“Miramedia”) to create a new MCLN branded web-based portal, “MiraCBD”: https://miracbd.ca.
The Agreement calls for MPXI, in conjunction with Miramedia, to jointly develop the MiraCBD portal and for Miramedia to utilize with retailers, natural health practitioners and consumers to connect their customers to the MCLN platform.
MiraCBD will provide retailers, natural health practitioners and consumers with access to the MCLN platform which operates as: (a) a private network educational platform, providing information about the use of medical cannabis; (b) a telemedicine medium providing patient access to medical practitioners for advice and cannabis prescriptions from MCLN’s affiliate, Spartan Wellness Corporation; and (c) a sales platform for Canadian cannabis Licence Holders. MCLN earns educational and consultation fees from Licence Holders subscribing to its services.
“We work with retailers and natural health practitioners who are very passionate about the role of CBD and THC for their client’s health,” stated Miramedia’s co-founder, Raji Kalra. “We are excited to be able to create the MiraCBD portal to educate consumers on the natural benefits of medicinal CBD/Cannabis.”
“We continue to find innovative ways to expand the Medical Cannabis Learning Network,” said Michael Arnkvarn, Chief Operating Officer, Canada of MPXI. “This relationship will provide a significant and fluid referral program between Miramedia’s network of retailers, natural health practitioners and the MCLN and allow us to continue to expand the MCLN’s potential for new revenue generation.”
About Miramedia Retail Inc.
Miramedia Retail Inc. is a retail technology company. It owns and operates Peopletail, one of Canada’s largest product review communities that enables people-to-people shopping, and where consumers discover products before they buy. Peopletail connects user reviews to over 900 e-commerce retailers. Miramedia Retail is part of IBM’s Tech Accelerator Program where they use Watson to collect and share consumer insights for brands they work with through the Peopletail platform.
About MCLN
MCLN is a video learning engagement and reward company specializing in the development and delivery of video learning for distribution to doctors, patients and staff through the MCLN portal, a private, secure and controlled medical cannabis network. The MLCN is designed to, among other things, educate and inform individuals on medical cannabis, facilitate compliant medical consultations and permit the sale of cannabis products from licence holders through the fulfillment of medical cannabis prescriptions"
Sam Dan
5 years ago
PP to provide monies for the development of revenue streams
"MPX INTERNATIONAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UNITS OF UP TO C$5 MILLION
MPX International Corp. intends to further operationalize some of its revenue-generating assets and is raising a minimum of $4.0-million and a maximum of $5.0-million in a non-brokered private placement offering of a minimum of 3,000 units and a maximum of 3,700 units at a price of $1,000 (U.S.) per unit.
"This fund raise will enable the final stage of development of our processing operations in Switzerland and the launch of a number of new CBD products into that market in the coming months, including oils, smokables and pouches and to advance other cannabis projects in Canada and globally. The revenue from these capital expenditures will have the potential to create a significant impact on our near-term revenue generation," said W. Scott Boyes, chairman, president and chief executive officer of MPX International. "At the same time, we have instigated cost saving measures across the corporate group in order to accelerate the path to sustainable long-term profitability."
Each unit consists of one 12 per cent secured convertible debenture of the corporation in the principal amount of $1,000 (U.S.) and 7,000 common share purchase warrants. The debentures will have a maturity date of 24 months from the date of issuance, subject to certain conversion privileges as set forth in a debenture indenture with AST Trust Company (Canada). Each debenture will rank pari passu in right of payment of principal and interest with all other debentures issued under the offering.
The corporation intends to use the proceeds from the offering to finance product and facility development in Switzerland and retail expansion in Canada as well as for working capital and other general corporate purposes.
The closing of the offering is subject to the receipt of any necessary regulatory approvals, including, to the extent necessary, the approval of the Canadian Securities Exchange and may occur in multiple tranches.
Each debenture shall bear interest at a rate of 12 per cent per annum from the date of issue, payable quarterly in arrears on the last day of March, June, September and December in each year, commencing Dec. 31, 2020. The amount of interest that becomes payable on Dec. 31, 2020, will represent accrued interest for the period from the initial closing date to Dec. 31, 2020. All accrued but unpaid interest as of each coupon date shall be payable by the corporation in cash and shall accrue interest at a rate of 12 per cent per annum.
The principal amount shall be convertible for no additional consideration into common shares of the corporation at the option of the holder at any time prior to the earlier of: (i) 6 p.m. Eastern Standard Time on the maturity date; or (ii) the business day immediately preceding the date specified by MPX International for redemption of the debentures at a conversion price equal to 12 cents per common share.
Each warrant entitles the holder thereof to purchase one common share at an exercise price of 20 cents for a period of 24 months from the closing date. The corporation and AST will enter into a warrant indenture pursuant to which the warrants will be created and issued.
It is a condition of the offering that the corporation execute and deliver a guarantee and certain security documents in favour of AST, as collateral agent, as security for the payment and performance of the corporation's obligations under the debenture indenture.
The corporation may pay a cash placement fee equal to 5 per cent of the aggregate gross proceeds paid by each purchaser of units that are invested in the offering, excluding the aggregate number of units purchased by investors that participated in the corporation's prior equity raise which closed in March, 2019.
In addition, the corporation may issue that number of common share purchase warrants equal to 5 per cent of the aggregate number of common shares underlying the debentures if converted as of the closing date and the warrants issued to purchasers of the units excluding the aggregate number units purchased by investors that participated in the corporation's equity raise that closed in March, 2019. The compensation warrants shall be exercisable at the exercise price for a period of two years from the applicable closing date of the offering.
The securities issued pursuant to the offering including any common shares and other underlying securities issued on conversion of the securities will be subject to a statutory hold period in Canada of four months and one day following the applicable closing date of the offering in accordance with applicable securities laws. Additional resale restriction may be applicable under the laws of other jurisdictions.
About MPX International Corp.
MPX International is a multinational diversified cannabis company focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient.
Sam Dan
5 years ago
Important news from management shows a potential revenue source for the company
"MPX International Corporation (C-MPXI) - News Release
ORIGINAL: MPX International Completes Definitive Agreements for Cannabis Joint Venture in South Africa
2020-02-20 06:45 CT - News Release
MPXI Close 2020-02-19 C$ 0.335
NOT FOR DISTRIBUTION TO NEWSWIRE SERVICES IN THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS.
TORONTO, Feb. 20, 2020 (GLOBE NEWSWIRE) -- MPX International Corporation (“MPX International,” “MPXI” or the “Company”) (CSE:MPXI; OTCQX:MPXOF) is pleased to announce that it has completed definitive agreements pursuant to the previously announced joint venture to establish low-cost cultivation using hi-tech greenhouses on the Sonop Farm, which is located in the traditional wine-growing region of Stellenbosch in South Africa’s Western Cape approximately 50 kilometres east of Cape Town. The biomass produced from the Company’s operations in South Africa are expected to primarily support MPXI’s operations in Malta. Upon receipt of a license to import, extract, produce finished products and distribute cannabis and cannabis derivatives, MPXI Malta Operations Ltd., a subsidiary of the Company, will produce EU-GMP quality cannabis oils and cannabis derivative products and pursue regulated medical cannabis distribution opportunities in Europe through Salus BioPharma Corporation, a wholly-owned subsidiary of the Company, as well as in Canada and Oceania.
Pursuant to the terms of the definitive agreements, MPXI has acquired an 80% interest in First Growth Holdings (Pty) Ltd. (“First Growth”) with the remaining 20% held by Simonsberg Cannabis Pty Ltd. (“Simonsberg”), whose shareholders include a prominent local winery continuing MPXI’s string of successful local partnerships.
First Growth has applied under the Medicines and Related Substances Act, No. 101 of 1965 (South Africa) for a license to cultivate cannabis from the Sonop Farm (the “License”) from South African Health Products Regulatory Authority (“SAHPRA”). Construction commenced on the first cultivation phase of the project in September 2019 on an initial half hectare (approximately 54,000 square feet) with full development of the project resulting in up to six hectares (approximately 646,000 square feet) of advanced EU-Good Agricultural Practices (“EU-GAP”) certified greenhouse cultivation and EU-Good Manufacturing Practice (“EU-GMP”) certified extraction and processing laboratory.
The Company and Simonsberg loaned a principal amount of US$1.7 million on construction of the project with US$500,000 from Simonsberg at an interest rate of U.S. LIBOR plus 3% per annum. Upon receipt of the License, the US$500,000 loan from Simonsberg plus accrued and unpaid interest are convertible into common shares (the “Shares”) of MPXI at a deemed conversion price of C$0.35 per Share and based on the exchange rate posted by the Bank of Canada as of the date of the achievement of the License.
Upon First Growth achieving the applicable milestones outlined below, MPXI will issue warrants in MPXI (“MPXI Warrants”) to Simonsberg up to an exercise value of US$5,000,000. The MPXI Warrants will be issued in tranches, as outlined herein, will have a term of three years, and at an exercise price equal to the greater of (a) C$0.35 with respect to Warrant B and C and C$0.42 with respect to Warrant D, E and F and (b) the five day volume weighted average price (the “VWAP”) of MPXI on the Canadian Securities Exchange (the “CSE”) as of the day the respective milestone has been met, unless otherwise indicated below. The MPXI Warrants will be issued pursuant to all applicable securities laws, regulations, rules, rulings and orders and the rules of the CSE. The MPXI Warrants will be issued as follows:
Warrant A: US$500,000 exercise value upon receipt by First Growth of the License from SAHPRA with an exercise price determined as the five-day VWAP of the MPXI Shares on the CSE as of the date of the definitive agreements;
Warrant B: US$500,000 exercise value upon receipt by First Growth of the License from SAHPRA;
Warrant C: US$1,000,000 exercise value upon successful cultivation and processing of 1,000 kg of Good Agricultural and Collection Practice (“GACP”) grade dried flower suitable for delivery to an extraction facility;
Warrant D: US$1,500,000 exercise value upon successful cultivation and processing a further 5,000 kg (aggregate of 6,000 kg) of GACP grade dried flower suitable for delivery to an extraction facility;
Warrant E: US$500,000 exercise value, upon the earlier of the (i) receipt by First Growth of an extraction and manufacturing license from SAHPRA and (ii) date that is twelve (12) months from the date that First Growth receives the License, if plans to build and fund an EU-GMP compliant extraction and manufacturing facility have not been approved; and
Warrant F: US$1,000,000 exercise value, upon the earlier of (i) successful delivery of 100 kg of EU-GMP grade cannabis extract through First Growth’s processing facility and (ii) date that is twelve (12) months from the date that First Growth receives the License, if plans to build and fund an EU-GMP compliant extraction and manufacturing facility have not been approved.
In addition, First Growth will pay to Simonsberg a royalty of US$0.10 per gram of dried flower shipped.
“As part of our strategy to create a cost-effective global supply chain, MPXI needed to create a source of high-quality, but low-cost cannabis biomass which could be easily exportable to Europe and other high- value cannabis markets,” commented W. Scott Boyes Chairman, President and CEO of MPXI. “We explored several potential cultivation jurisdictions taking into consideration relative production costs, sovereign risk, comparative ability to achieve GACP and EU-GMP certifications, readily-available infrastructure, governmental and legislative support for cannabis projects, the stability of the business environment and the availability and quality of local management/partnerships. South Africa, and the Western Cape, in particular, proved to be the best venue with high marks in each category.”
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d98c2f28-c962-41a4-ab82-53cca83f25f4
“Our partnership with our local South African partners has already proven itself to be highly-effective,” added Mr. Boyes. “In a few short months, the South African team selected suitable land with easy access to electricity and water, immediately adjacent to a major highway, and only 45 minutes from Cape Town’s airport and container pier. The site has been graded, fenced and the initial half hectare of high-tech greenhouse has been erected, equipped with security equipment and has received a preliminary inspection by SAHPRA. The next phase of the development will include internal fixturing and readiness for the commencement of cultivation expected mid-to-late 2020.”
Simon Back, Director of Simonsberg, adds, “MPXI brings a wealth of experience in the cannabis industry, and together with our team's local knowledge and skills, we are confident that we will deliver on the vision of creating a world-class cultivation facility here in the Winelands.”
About MPX International Corporation
MPX International Corporation is focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient.
Sam Dan
5 years ago
Your right! An important vehicle for USA exposure is established
"“MPXI” or the “Company”) (CSE:MPXI; OTCQX:MPXOF) today announced that its common shares were approved for trading in the United States on the OTCQX® Best Market, effective today, Tuesday, February 11, 2020. MPXI's common shares will continue to trade under the ticker symbol “MPXOF.”
The OTCQX® Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications.
“Over the past year MPX International experienced significant operational changes and reached many corporate milestones, including the: (a) acquisition of HolyWeed, a Swiss-based producer of high- quality CBD products; (b) launch of MPXI Labs in Switzerland, which will produce “cannabis-light” and CBD oils, extracts, and other CBD-infused products for the Swiss and European markets; (c) issuance of both a Medical Cannabis Licence and Cannabis Manufacture Licence to MPX Australia enabling it to produce medical cannabis products for the Oceania markets; (d) receipt of an LOI from Malta Enterprise and the acquisition of an EU GMP-ready facility in Malta, which when fully-built out, will give MPXI direct access to the European medical cannabis market; (e) opening of retail flagship stores in both London and Geneva selling HolyWeed and “beleaf” CBD products; (f) acquisition and launch of the Medical Cannabis Learning Network which, via in-store electronic terminals in health food stores, pharmacies and pain clinics, and online through a private portal, provides education, consultation and order-entry tools for new and existing medical cannabis patients; and (g) entering into a framework agreement and the start of construction of a cultivation project near Cape Town, South Africa which will provide MPXI’s global operations with low-cost cannabis biomass. We are committed to upholding best practices in corporate governance and financial reporting as we continue to accelerate our growth strategy to further grow market share and penetrate new markets. Upgrading to the OTCQX Market demonstrates this commitment to transparency, professionalism and integrity and is an important a step toward improving liquidity in our stock as we continue to drive shareholder value,” commented W. Scott Boyes, MPX’s Chairman, President and CEO."
Sam Dan
5 years ago
Good news from Europe! Indicative of managements drive to develop European revenue generation.
" “Company”) (CSE:MPXI;OTC:MPXOF) announced the opening of its inaugural Holyweed CBD retail flagship store in the heart of Geneva’s tourist district. The store is strategically located on one of Geneva’s busiest streets, Rue des Eaux-Vives, near the famed water fountain “Jet d’Eau,” Geneva’s largest tourist attraction.
The location carries all Holyweed ‘Swiss Certified Organic’ branded products as well as products from several other premium CBD brands curated by Holyweed. Holyweed products include: 100% Swiss grown cannabis light/high CBD dry flowers, pre-rolls, oil tinctures, Cannabricot – a Swiss-made apricot cannabis liquor and eau-de-vie, a cannabis tea. Holyweed is currently the only Swiss CBD brand that has been awarded the official ‘Swiss Certified Organic’ label, a distinction that aligns the Holyweed brand with Switzerland’s impeccable reputation for high quality consumer products.
Photos of Holyweed accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0c1c63e1-cf72-4dce-9cce-a9a057f46fe6
https://www.globenewswire.com/NewsRoom/AttachmentNg/6cc3ede2-6fc2-4c7e-af6c-1d5590da53f7
“This first Holyweed store in Geneva is another step in our European retail strategy to cement MPXI as trailblazers providing access to premium quality CBD products in Europe and beyond. Importantly, it also further underpins our assertion that Switzerland is our most immediate opportunity for revenue generation, second only to our already revenue generating Canadian operations,” said W. Scott Boyes, Chairman, President and CEO of MPXI. “The opening of this first retail location is on the heels of our very successful harvest of approximately 90,000 kilograms of Swiss-organic, high CBD biomass in the fall and continues to build on the strong momentum we are experiencing in this jurisdiction.”
“Again, we are creating first mover advantages that positions MPXI for success as a global leader and will enable us to capture market share as the European CBD market continues to experience massive growth,” Mr. Boyes added. “Our growing traction in Switzerland strongly supports this.”
This new retail location builds on the Company’s burgeoning European retail presence. In November 2019, MPXI opened its first retail “beleaf” branded CBD retail location in London’s Soho district.
Enhancing the cultural zeitgeist, Holyweed has collaborated with famed photographer Henrik Purienne to create an exclusive art book called Wandering And Learning, distributed through exclusive concept stores and trend setting retail partners globally in order to further build Holyweed brand awareness, not only in Switzerland but globally.
A photo of Wandering And Learning accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8c26f68-968f-43bf-9a4c-4912e68b3f0a
In January 2020, Holyweed sponsored a major cultural event in Switzerland with its official sponsorship of “Art Geneve,” one of Europe’s most successful contemporary art fairs.
“Select forays such as these demonstrates Holyweed leading management expertise to build a global cannabis brand in order to further elevate and extend our brand recognition with discerning consumers,” said Daniel Fryer, Managing Director, Europe. “Those actions cement Holyweed’s position as the premium Swiss brand of organic certified CBD products within the immediate region and throughout Europe.”
Later in 2020, MPXI expects to open a second Holyweed retail location in Zurich, which is Switzerland’s largest city."
Sam Dan
5 years ago
Important achievement by the company as it rolls out production internationally"
"MPXI" or the "Company") (CSE:MPXI; OTC PINK:MPXOF) announced that its wholly-owned subsidiary, MPX Australia Pty. Ltd. ("MPX Australia"), has been awarded a Medicinal Cannabis Licence from the Australian Office of Drug Control ("ODC").
The licence authorizes MPX Australia to undertake certain activities at the company's 70,000 sq. ft. site under construction in Launceston in Tasmania including:
The cultivation of cannabis plants for producing cannabis or cannabis resin for medical purposes.
The production of cannabis or cannabis resin for medical purposes.
Activities related to the cultivation or production of cannabis including, but not limited to, obtaining cannabis plants, packaging, transport, storage, testing, possession and control of all resulting cannabis products as well as the supply of all cannabis plants, cannabis or cannabis resin.
"This regulatory approval is a significant milestone for our operations in Australia and is a testament to our dedication to operating in real-time and our ability to execute on our strategy," said W. Scott Boyes, Chairman, President and CEO of MPX International. "Australia provides an important gateway for MPXI into both the Oceania and Asia-Pacific markets, and we are thrilled to receive this licence, signalling another step forward in our business there."
"MPX Australia provides the company with a strong foothold in a new and burgeoning market," said Tibor Vertes, Executive Director of MPX Australia. "The number of medical cannabis patients is growing steadily in Australia and with MPX Australia's focus on producing high quality products for the domestic market, we are positioning the company in a first-mover position, creating increased brand awareness amongst Australians and possibly building a future export gateway to the Asia-Pacific region."
Upon receipt of the Medicinal Cannabis Licence, MPX Australia has achieved Milestone #1, being the granting of a medicinal cannabis license (cultivation and production) in Australia in accordance with the Narcotic Drugs Act 1967 (Cth).
In addition, further to the Company's press release dated July 23, 2019, MPXI will issue 2,689,189 common shares ($1,250,000) at a price of $0.46 per share.
About MPX International Corporation
MPX International Corporation is focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient."
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