BioSteel

Flow Beverage Corp. Completes Additional Private Placement

Retrieved on: 
Friday, March 1, 2024
Vitamins, Supplements, Retail, Health, Food, Beverage, Person, Suite, Telephone, TSX, Toronto Stock Exchange, Growth, Sale, Exercise, BioSteel, Initial, NFS, FLOW, Unit, Beatbox, MVS, Security (finance)

Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (“Flow” or the “Company”) today announced it has completed the previously announced additional non-brokered private placement of 5,577,000 subordinate voting shares (“SV Shares”) at a price of $0.28 per SV Share to RI Flow LLC (the “Investor”) for gross proceeds of $1,561,560 (the “Additional Offering”), following the initial closing on January 30, 2024 of the non-brokered private placement of 6,473,000 SV Shares at a price of $0.28 per SV Share to the Investor for gross proceeds of $1,812,440 (the “Initial Offering”).

Key Points: 
  • Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (“Flow” or the “Company”) today announced it has completed the previously announced additional non-brokered private placement of 5,577,000 subordinate voting shares (“SV Shares”) at a price of $0.28 per SV Share to RI Flow LLC (the “Investor”) for gross proceeds of $1,561,560 (the “Additional Offering”), following the initial closing on January 30, 2024 of the non-brokered private placement of 6,473,000 SV Shares at a price of $0.28 per SV Share to the Investor for gross proceeds of $1,812,440 (the “Initial Offering”).
  • The Investor is affiliated with NFS Leasing Canada Ltd., a lender to Flow, and its founder Clifford L. Rucker.
  • The total proceeds raised from the Initial Offering and the Additional Offering are $3,374,000.
  • The gross proceeds from the Additional Offering will be used by the Company for working capital and general corporate purposes.

Canopy Growth Announces that BioSteel Obtains Court Approval of Successful Bids in Sale and Investment Solicitation Process

Retrieved on: 
Friday, November 17, 2023
Sale, Record, CCAA, Canopy Growth, Intellectual property, CGC, TSX, BioSteel, Bankruptcy, Bank, Security (finance), Cryptocurrency, Lease

Elimination of funding obligation to BioSteel consistent with Canopy Growth's cannabis focus and transformation to a simplified, asset-light operating model.

Key Points: 
  • Elimination of funding obligation to BioSteel consistent with Canopy Growth's cannabis focus and transformation to a simplified, asset-light operating model.
  • On September 21, 2023, the CCAA Court granted an order (the "SISP Order") authorizing BioSteel Canada to conduct, under the oversight of KSV Restructuring Inc., in its capacity as court-appointed monitor of BioSteel Canada, a sale and investment solicitation process (the "SISP") in accordance with the terms and conditions relating thereto (the "SISP Procedures").
  • a)    a sale of substantially all of the assets of BioSteel Canada (the "BioSteel Canada Transaction") as contemplated by an asset purchase agreement dated November 9, 2023 (the "BioSteel Canada Asset Purchase Agreement"); and
    b)    a sale of all or substantially all of the assets (the "BioSteel Manufacturing Transaction" and together with the BioSteel Canada Transaction, the "Sale Transactions") of BioSteel Canada's U.S. affiliate, BioSteel Manufacturing as contemplated by an asset purchase agreement dated November 9, 2023 (the "BioSteel Manufacturing Purchase Agreement").
  • The closing of the BioSteel Canada Transaction is subject to customary closing conditions and an order of the US Bankruptcy Court recognizing the approval of the BioSteel Canada Transaction.

Harbour Coca Launches US$5 Million Reg D506 Capital Raise; Provides Update on 2023 Milestones and Priority Initiatives

Retrieved on: 
Tuesday, October 24, 2023
Cannabis, Regulation D, CPG, Food, Regulation, Coca, Energy drink, Growth, Medicine, BioSteel Sports Nutrition, BioSteel, Drink, Investment, Funding, Drug, Harbor

Investors participating in the Financing include New York-based ArcStone US Ventures and recognized CPG entrepreneur, John Celenza, co-founder of BioSteel

Key Points: 
  • The Financing will provide strategic capital to Harbour and enable accredited investors to participate in the growth of the rapidly emerging coca sector.
  • Earlier this year, Harbour became the first company to successfully import coca leaf extract into Canada, an effort that took many months to complete.
  • New brands as well as large established CPG companies are going to be developing new products with coca.
  • These are just a few of the reasons why we at ArcStone are excited to be investing in Harbour."

Canopy Growth to Cease Funding BioSteel Business Unit Furthering Business Transformation and Focus on North American Cannabis Leadership

Retrieved on: 
Thursday, September 14, 2023
Ontario Superior Court of Justice, Bankruptcy, Canopy Growth, CGC, State Administrative Expenses, Chapter 15, Title 11, United States Code, CAD, CCAA, GAAP, Sale, EBITDA, Acquisition, Investment, Cost, Bankruptcy Code, BioSteel Sports Nutrition, TSX, Depreciation, Adjustment, BioSteel, Security (finance), Drug, Bookkeeping, 3D printing

As part of its efforts to simplify its business and reduce cash burn, Canopy Growth previously announced that it was reviewing strategic options for the Company's BioSteel business unit, including a potential sale of the business unit.

Key Points: 
  • As part of its efforts to simplify its business and reduce cash burn, Canopy Growth previously announced that it was reviewing strategic options for the Company's BioSteel business unit, including a potential sale of the business unit.
  • The decision by BioSteel to seek creditor protection means that Canopy Growth will limit the further funding obligations in respect of the BioSteel business unit, which is consistent with Canopy Growth's transformation to a simplified, asset-light operating model and focus on its core cannabis operations.
  • Further, the Company anticipates the removal of the previously identified material weakness related to the BioSteel business segment upon disposition.
  • Canopy Growth remains BioSteel Canada's largest creditor and shareholder and anticipates receiving its proportionate share of any recoveries in the CCAA process.

BioSteel Files for and Obtains CCAA Creditor Protection

Retrieved on: 
Thursday, September 14, 2023
Ontario Superior Court of Justice, LLP, BioSteel, Chapter 15, Title 11, United States Code, Libbey-Owens-Ford Glass Co v Ford Motor Co of Canada Ltd, CCAA, Sale, Hibernation, Greenhill, BioSteel Sports Nutrition, Blackwell, Chapter 11, Title 11, United States Code, Monitor, Hand, Security (finance), Financial adviser

BioSteel's application for and entry into the CCAA process was commenced as BioSteel no longer has access to funding for the brand which continued to generate negative operating cash flow.

Key Points: 
  • BioSteel's application for and entry into the CCAA process was commenced as BioSteel no longer has access to funding for the brand which continued to generate negative operating cash flow.
  • BioSteel sought creditor protection under the CCAA to conduct a court-supervised sale process for its business and property for the benefit of its stakeholders.
  • The board of directors of BioSteel will remain in place and BioSteel will remain responsible for the sale process under the supervision of the CCAA Court and the general oversight of the Monitor.
  • BioSteel intends to fund the CCAA process from cash on hand and does not expect to require additional financing during the course of the proposed sale process.

CGC ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of July 24, 2023 in the Class Action Filed on Behalf of Canopy Growth Corporation Shareholders

Retrieved on: 
Monday, July 24, 2023
Telephone, COST, CLASS, Canopy Growth, Ageing, BioSteel, CGC, HOW

NEW YORK, July 24, 2023 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Canopy Growth Corporation (NASDAQ: CGC) alleging that the Company violated federal securities laws.

Key Points: 
  • NEW YORK, July 24, 2023 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Canopy Growth Corporation (NASDAQ: CGC) alleging that the Company violated federal securities laws.
  • WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Canopy Growth you have until July 24, 2023 to petition the court for lead plaintiff status.
  • Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
  • HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the CGC lawsuit, please contact J. Klein, Esq.

DEADLINE ALERT for CGC, CUTR, FNKO, and ATLX: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders

Retrieved on: 
Monday, July 24, 2023
Lithium, Funko, Atlas, Law, ERP, Suite, Investment, Defendant, BioSteel, Security (finance), Risk management

LOS ANGELES, July 24, 2023 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies.

Key Points: 
  • LOS ANGELES, July 24, 2023 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies.
  • Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to [email protected] .
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
  • The Law Offices of Frank R. Cruz, Los Angeles

CANOPY DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Canopy Growth Corporation and Encourages Investors to Contact the Firm

Retrieved on: 
Saturday, July 22, 2023
Class Action Lawsuit, Professional Services, Legal, Telephone, Defendant, Canopy Growth, P.C, Court, Jeanne Eagels, District court, Person, BioSteel, Security (finance), Canopy

Investors have until July 24, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Key Points: 
  • Investors have until July 24, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
  • Click here to participate in the action.
  • Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.
  • There is no cost or obligation to you.

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Canopy Growth Corporation (CGC)

Retrieved on: 
Friday, July 21, 2023
Class Action Lawsuit, Professional Services, Legal, Canopy Growth, Bank statement, Law, Suite, Court, Defendant, News, BioSteel

The Law Offices of Frank R. Cruz reminds investors of the upcoming July 24, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Canopy Growth Corporation (“Canopy Growth” or the “Company”) (NASDAQ: CGC ) securities between May 31, 2022 and May 10, 2023, inclusive (the “Class Period”).

Key Points: 
  • The Law Offices of Frank R. Cruz reminds investors of the upcoming July 24, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Canopy Growth Corporation (“Canopy Growth” or the “Company”) (NASDAQ: CGC ) securities between May 31, 2022 and May 10, 2023, inclusive (the “Class Period”).
  • If you purchased or otherwise acquired Canopy Growth securities during the Class Period, you may move the Court no later than July 24, 2023 to request appointment as lead plaintiff in this putative class action lawsuit.
  • To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

CGC LAWSUIT ALERT: Levi & Korsinsky Notifies Canopy Growth Corporation Investors of a Class Action Lawsuit and Upcoming Deadline

Retrieved on: 
Friday, July 21, 2023
CASE, LLP, Canopy Growth, Telephone, COST, Levi, The Company, CLASS, NEXT, Court, Ageing, BioSteel, Cryptocurrency

NEW YORK, July 21, 2023 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Canopy Growth Corporation ("Canopy Growth" or the "Company") (NASDAQ: CGC) of a class action securities lawsuit.

Key Points: 
  • NEW YORK, July 21, 2023 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Canopy Growth Corporation ("Canopy Growth" or the "Company") (NASDAQ: CGC) of a class action securities lawsuit.
  • CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Canopy Growth investors who were adversely affected by alleged securities fraud between June 1, 2021 and May 10, 2023.
  • Follow the link below to get more information and be contacted by a member of our team:
    CGC investors may also contact Joseph E. Levi, Esq.
  • For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.