Case Studies
Scott’s Miracle-Gro Company
NYSE:SMG
Shares Outstanding: 57,530,125 (www.investing.com)
Share Price: $99.25 Market Cap: $5.71B
Qtr. Dividend: $2.03 Ex-Dividend Date: 11/22/17
81
Editor
Editor
review in order to maintain Purilum's position at the forefront of emerging trends. This includes the testing and evaluation of ingredients for flavors and e-liquids. Ingredients include traceability from raw materials to finished product, with batch labeling and quality verification. These industry-leading standards give Purilum the ability to consistently meet the quality and capacity demands of its customers.
In August 2017, AOSPI made a 40% equity investment in Nicotine River, LLC. This new joint venture has enhanced Purilum's revenue and profitability growth, and Purilum's business is anticipated to further expand as it utilizes its flavor expertise to support product offerings for our new hemp and cannabis businesses.
Industrial Hemp
December 2017, subsidiary Pure-Ag NC, LLC, acquired a 40% equity position in North Carolina-based Criticality, LLC ("Criticality"), with triggers that allow for consolidation up to 50% on or after March 31, 2020. Criticality utilizes the strength of our farmer network to grow industrial hemp in North Carolina under the state's pilot program, which is then used for cannabidiol hemp oil ("CBD") extraction in Criticality's facility in North Carolina. Our five year goal is to become a leader in CBD production and consumer products.
Cannabis
January 2018, wholly owned indirect subsidiary, Canadian Cultivated Products, Ltd. acquired a 75% equity position in Canada's Island Garden Inc. ("CIG") and an 80% stake in Goldleaf Pharm Inc. ("Goldleaf").
CIG is one of only 35 companies fully licensed to produce and sell medicinal cannabis under the Access to Cannabis for Medical Purposes Regulations in Canada ("ACMPR"), and has a 20,000 square foot indoor growing facility in Charlottetown, Prince Edward Island. Plans are underway to expand the current facilities by an additional 250,000 square feet of greenhouse capacity at their current site. Currently CIG sells products direct to patients and through distributors. In January, CIG signed a Memorandum of Understanding with the Province of Prince Edward Island to be one of three suppliers chosen to supply the recreational cannabis market that is expected to open in the summer 2018.