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Codebase Ventures helps early-stage technology and cannabis companies reach full potential

Snapshot

The venture capital company invests in early-stage technology and cannabis companies

CODEBASE VENTURES INC. -

Quick facts: CODEBASE VENTURES INC.

Price: 0.07 CAD

CSE:CODE
Market: CSE
Market Cap: $2.57 m
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  • Venture capital company investing in early-stage technology and cannabis companies
  • Has invested in companies such as blockchain company Arcology and ICO Ranker
  • Subsidiary Code Cannabis Investments focused on the expanding CBD market in North America and Europe

What Codebase Ventures does:

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF) is a tech-centric investment firm. The venture capital company invests in early-stage technology and cannabis companies and is made up of a team of financial and technology experts. 

The company aims to take stakes in fledgling companies with a focus on investing in companies with "outstanding talent, teams and technology," according to the firm's website. With its headquarters in Brooklyn, Codebase’s team members are based globally from Belgrade to Vancouver.

Codebase has a number of companies within its portfolio including stakes in the blockchain company Arcology, as well as investments in ICO Ranker, the standard for reviews and analysis of token sales, and Blockchain Ranker, a business-to-business directory of blockchain software, service providers and platforms.

Arcology, in which it owns a 30% stake, runs a hierarchical blockchain that uses proprietary algorithms and artificial intelligence to eliminate inefficiencies that hinder rival blockchain platforms. ICO Ranker is a collaborative platform for the rating of ICOs and blockchain projects. 

The company recently started targeting early-stage assets and startups in the emerging and promising cannabis sector by launching its newest subsidiary, Code Cannabis Investments. For now, the company is focused on the expanding market for CBD products in North America and Europe.

London-based World High Life PLC is the crown jewel of Code Cannabis’s portfolio. World High Life is focused on backing or acquiring companies operating in the CBD wellness and medicinal cannabis industry and its wholly-owned subsidiary, Love Hemp is a leading CBD supplier in the United Kingdom.

How is it doing:

Codebase has been actively pursuing pharmaceutical opportunities that could have a positive impact on the current global coronavirus pandemic.

In April, the firm acquired a 49% interest in Glanis Pharmaceuticals Inc, which recently filed for a US provisional patent for the transdermal delivery and oral mucosal delivery of hydroxychloroquine. Five out of seven completed clinical trials of the drug have shown favorable outcomes for coronavirus patients, although the company said more data is necessary. 

Meanwhile, investee company Arcology is advancing its presence among dAPP (decentralized application) developers by launching a project on GitHub, the world's largest source code sharing platform. An intelligent client-end simulator called Ammolite can simulate hundreds of thousands of dAPPs users on a network simultaneously.

In May, Codebase investee Trad3r launched a reimagined mobile game app and social media platform designed for users to trade thousands of different celebrities, sports teams, stocks and friends. Also in May, investee and psychedelics company Red Light Holland (CSE:TRIP) debuted its shares on the Canadian Securities Exchange.

But it’s World High Life that has been in the news most recently. Sales of its Love Hemp brand increased by nearly 107% during the month of May compared to January 2020 levels. Love Hemp said its team has been “highly responsive” to customer needs throughout the coronavirus (COVID-19) pandemic, helping to increase awareness and the brand’s capacity online to fuel sales.

Inflection points:

  • Explore opportunities in the UK and European CBD and medicinal-cannabis markets
  • Growing sales of Love Hemp, LH Botanicals and other World High Life products
  • Glanis Pharmaceuticals receiving patents for transdermal delivery and oral mucosal delivery of chloroquine and hydroxychloroquine

Increasing portfolio of companies through further investments

What the boss says:

Commenting on World High Life’s success amidst the current coronavirus pandemic, Codebase CEO George Tsafalas told shareholders: “Even under challenging global circumstances World High Life’s Love Hemp subsidiary continues to expand its business as a leader in the UK, and building market share, which bodes well for its future growth, and to the benefit of our shareholders as a result of Codebase’s early-stage investment.”

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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