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Zynerba Pharmaceuticals (ZYNE) announced that it has met its enrollment target of 16 patients in its Phase 2 FAB-C (Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with CBD) clinical trial evaluating ZYN002 CBD gel in children with Fragile X syndrome. ZYN002 CBD gel is the first and only patent-protected, synthetic CBD formulated as a permeation-enhanced gel for transdermal delivery. The gel was awarded the orphan drug designation by the FDA.
American Cannabis Company (AMMJ) secured its first client in Arkansas and will be working with to strategically plan business operations for them in effort to win a license to operate a vertically integrated cannabis business. American Cannabis will provide end-to-end solutions including: operational planning activities, conceptual design work, application completion, deployment of operations and ongoing remote management.
Aurora Cannabis (ACB.V: TSX Venture) (ACBFF: OTCQX) announced a strategic investment in Hempco Food and Fiber (HEMP.V: TSX Venture) and now has a 19.9% ownership stake on a fully diluted basis. Aurora also will obtain an option to acquire shares from the majority owners of Hempco and increase its ownership interest to 50.1% on a fully diluted basis.
Hempco's line of packaged foods are sold under the brand Planet Hemp and are distributed in seven countries. They are one of the world's largest industrial producers of hemp and hemp products, and currently offers three primary product lines: bulk and packaged food products (i.e. protein powder, seeds, oil etc.), hemp fibre, and nutraceuticals.
During the six-months period that ended on February 28th, Hempco generated $4.5 million in revenue which represented a 136% increase over the prior year’s comparable period.
To meet demand for its products, Hempco is currently completing the construction of a facility that is less than 5 km from the Aurora Sky facility at Edmonton International Airport. Upon completion, Hempco will double its current capacity to a total of approximately 225,000 kg per month of hulled hemp seed. Additionally, the facility is easily scalable and can be expanded to approximately 600,000 kg per month.