Spotlight Growth
No Result
View All Result
Saturday, February 4, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Bio/Med/Pharma

CTT Pharmaceutical Holdings, Inc. (OTC Pink: CTTH) Soars 107% After Aurora Cannabis, Inc. (OTCQB: ACBFF) (TSX: ACB) Makes Strategic Investment In Company

by admin
May 22, 2018
in Bio/Med/Pharma, Cannabis
0
CTT Pharmaceutical Holdings Aurora Cannabis Wafer Strategic Investment News

CTT Pharmaceutical Holdings Aurora Cannabis Wafer Strategic Investment News

CTT Pharmaceutical Holdings, Inc. (OTC Pink: CTTH) is the developer of a patent-protected novel drug delivery technology which is utilized as an oral, fast dissolving thin film (wafer). Shares of the wafer drug delivery technology developer soared 107% during trading on Tuesday, May 22, 2018. Over the past month, CTT Pharmaceutical Holdings, Inc. has seen average daily volume of 33,527 shares. However, volume of 1.89 million shares or dollar volume of $1.13 million, exchanged hands during trading on Tuesday.

Shares of CTT Pharmaceutical Holdings, Inc. soared on Tuesday after the company announced that Aurora Cannabis, Inc. (OTCQB: ACBFF) (TSX: ACB) has made a strategic investment in the company. The Canadian cannabis giant is acquiring an initial 9.14% stake in CTT Pharmaceutical Holdings through a private placement of US$1 million 5% convertible debenture. The agreement ultimately gives Aurora Cannabis the ability to increase ownership in CTTH to as high as 42.50% of the company. In addition to the investment, Aurora will have access to CTT Pharmaceutical Holdings’ drug delivery product and development pipeline. Here is the full press release detailing of the strategic investment made by Aurora Cannabis:

CTT Pharmaceutical Holdings, Inc. Press Release:

Edmonton, AB, May 22, 2018 (GLOBE NEWSWIRE) — Aurora Cannabis Inc. (“Aurora” or the “Company”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and CTT Pharmaceutical Holdings Inc. (“CTT“) (US-OTC: CTTH) today announced that Aurora is acquiring an initial 9.14% ownership interest in CTT via way of a non-brokered private placement in the form of a US$1 million 5% convertible debenture. The agreement includes an issuance of warrants enabling Aurora to increase ownership to 42.5%.

Commercial agreement

Additionally, the companies announced that, within 60 days, they intend completing a final commercial agreement, expanding the exclusivity agreement, announced first on April 16, 2018, which related to distribution in Canada only of CTT’s novel, patent-protected drug delivery technologies. CTT will now provide Aurora with global exclusivity to develop, manufacture and market CTT’s novel oral thin films wafers. The companies will work jointly towards obtaining Health Canada approval for introduction of the new products on the Canadian market, as well as obtaining commercial access to other international jurisdictions in which Aurora is active.

Clinically-Proven Rapid Onset Drug Delivery Technology

CTT is an Ontario based global leader in the development of dose specific fast dissolving oral thin film wafers that provide a dose specific, smoke-free delivery of medical cannabis or other active ingredients. CTT’s oral thin film wafer is made from FDA approved non-medical ingredients used in several pharmaceutical formulations and provides the effective oral delivery of a specific dose with rapid onset of action within 5-10 minutes after dosing. Clinical research undertaken by CTT indicates the oral wafer delivery of THC into the blood steam was approximately 40% quicker compared to edible form factors, as well as resulted in approximately 28% more THC in the blood stream at peak bioavailability levels.

Management Commentary

“The investment in CTT reflects our commitment to science-based diversification into higher-margin drug delivery technologies for both the medical and adult consumer use markets” said Terry Booth, CEO.  “The clinically-proven rapid onset of action of CTT’s wafers is a key differentiator that, we believe, will resonate strongly with physicians, patients and adult use consumers. This provides us with an important competitive advantage in the rapidly growing market segment for smoke-free form factors.”

Dr. Pankaj Modi, CEO of CTT, added, “We believe Aurora more than any other LP, provides the global distribution channels, regulatory affairs expertise, scale and manufacturing ability to successfully commercialize this unique technology on a global basis. We are very pleased to have Aurora as a key strategic investor, delivering additional recognition to our product development capabilities, and increasing both our commercial and capital markets visibility.”

Terms of the Investment 

Aurora will make an initial US$1 million investment in CTT by way of a non-brokered private placement of convertible debentures (the “Debentures”). The Debentures will have a maturity date of three years from the closing date of the offering (the “Maturity Date”) and will bear interest from the date of closing at 5.0% per annum, payable semi-annually. The Debentures will be convertible, at the option of the holder, into common shares of CTT at any time prior to the close of business on the last business day immediately preceding the Maturity Date at a conversion price of $0.268 per Common Share (the “Conversion Price”).

Consequently the initial investment, Aurora owns approximately 9.14% of the issued and outstanding common shares of CTT Pharma (on a non-diluted basis) In addition, Aurora shall also receive from CTT warrants, such that Aurora will be able to increase its ownership interest in CTT to 42.5% on a fully diluted basis. Each warrant provides the Company with the right to purchase one common share of CTT at a price of $0.35. The warrants are exercisable upon certain conditions being met. The initial investment provides Aurora with the right to appoint one member of CTT’s board of directors. Upon achieving 42.5% ownership, the Company shall have the right to appoint a second board member of CTT.

Investor Rights Agreement

Aurora and CTT have also entered into an investor rights agreement that provides Aurora with anti-dilution protections, enabling the Company to maintain its ownership level.

About Aurora

Aurora’s wholly-owned subsidiary, Aurora Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as “Aurora Mountain”, and a second 40,000 square foot high-technology production facility known as “Aurora Vie” in Pointe-Claire, Quebec on Montreal’s West Island. In January 2018, Aurora’s 800,000 square foot flagship cultivation facility, Aurora Sky, located at the Edmonton International Airport, was licensed. Once at full capacity, Aurora Sky is expected to produce over 100,000 kg per annum of cannabis. Aurora is completing a facility in Lachute, Quebec utilizing its wholly owned subsidiary Aurora Larssen Projects Inc.

The Company’s wholly-owned subsidiary CanniMed Therapeutics Inc. (“CanniMed”) is Canada’s most experienced licensed producer of medical cannabis, with over 20,000 kg per annum in funded capacity. CanniMed forms the heart of Aurora’s Medical Cannabis Centre of Excellence, aimed at product and market development.

Aurora also owns Berlin-based Pedanios GmbH, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. The Company owns 51% of Aurora Nordic, which will be constructing a 1,000,000 square foot hybrid greenhouse in Odense, Denmark. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens.

Aurora holds a 25% ownership interest in Alcanna Inc. (“CLIQ”), one of Western Canada’s largest retail chains of liquor stores, who are developing a cannabis retail network in Western Canada. In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc, and holds 52.7% of Hempco Food and Fiber Inc. Aurora is also the cornerstone investor in two other licensed producers, with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, and a 17.62% stake in Canadian producer The Green Organic Dutchman Ltd., with options to increase to majority ownership.

Aurora’s Common Shares trade on the TSX under the symbol “ACB”, and are a constituent of the S&P/TSX Composite Index

About CTT Pharmaceutical

CTT’s principal asset is a unique and novel patented drug delivery technology, an orally administered, fast dissolving thin film (the “Wafer”). This technology platform will target both the human and veterinarian (pet) markets for treatment of many diseases. The Company believes that its Wafer technology will be one of the first to gain use in major markets such as pain management. Several Canadian and U.S. patents protect the Oral Thin Film (Wafer) formulation.

CTT’s oral fast dissolving drug delivery systems consist of edible Wafers that dissolve without water and within a few seconds after placement in the mouth. The majority of drugs administered using our drug delivery system mirror injections in that they have the ability to enter the bloodstream quickly, are convenient and discrete, and can be administered anywhere.  A faster absorption rate is achieved because the mouth contains a very thin mucosa and is extremely vascular. There is no bitter taste, no smoke inhalation, less degradation of medication (by bypassing the stomach) and most importantly lower dosage units are required given the efficacy of absorption.  Patient compliance is also improved especially with those who have a fear of choking or difficulty swallowing, and/or are pediatric, geriatric or incapacitated.

For more information, please visit our website: www.cttpharmaceuticals.com

Forward looking statements 

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The companies are under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Tags: acquisitionAurora CannabisbiopharmaceuticalsbiotechCanadacannabiscommon stockdrug delivery technologyemerging growthinvestmentmarijuana stocksmedicalmedical cannabismedical marijuanamicrocap stocksnewsOTCQBpharmaceuticalssalessmall cap companiessmall cap stockssmall capsSpotlight GrowthSpotlight Growth Stocksstock marketstockstechtechnology stockstradingtreatmentTSX
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Can the AI Boom Rebuild Investor Enthusiasm for Upstart Holdings NASDAQ UPST Spotlight Growth

Can the AI Boom Rebuild Investor Enthusiasm for Upstart Holdings (NASDAQ: UPST)?

February 3, 2023
Nerdy NYSE NRDY New AI Products Lesson Plan Creator Chat Tutor Spotlight Growth

Nerdy (NYSE: NRDY) Unveils New AI Tools for Lesson Plan Creation and Chat Tutoring

February 3, 2023
Elys Game Technology Corp NASDAQ ELYS Completes Acquisition of Engage IT Services Spotlight Growth

Elys Game Technology Corp (NASDAQ: ELYS) Completes Acquisition of Engage IT Services, a Software Engineering and IT Development Company

February 2, 2023
Tenax Therapeutics NASDAQ TENX US Patent Levosimendan PH-HFpEF Spotlight Growth

Tenax Therapeutics (NASDAQ: TENX) Granted U.S. Patent for IV Levosimendan for Pulmonary Hypertension with Heart Failure and Preserved Ejection Fraction (PH-HFpEF)

February 2, 2023
ADVERTISEMENT

Recent News

Can the AI Boom Rebuild Investor Enthusiasm for Upstart Holdings NASDAQ UPST Spotlight Growth

Can the AI Boom Rebuild Investor Enthusiasm for Upstart Holdings (NASDAQ: UPST)?

February 3, 2023
Nerdy NYSE NRDY New AI Products Lesson Plan Creator Chat Tutor Spotlight Growth

Nerdy (NYSE: NRDY) Unveils New AI Tools for Lesson Plan Creation and Chat Tutoring

February 3, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested