Investor Ideas #Potcasts: #Cannabis News and #Stocks on the Move (CSE:
$TER.C) (NASDAQ: $VFF) (CSE: $SOL.C) (OTCQB: $SING) (CSE: $ABCS.C)
Delta, Kelowna, BC –May 23,
2019 (Investorideas.com Newswire) www.Investorideas.com, a global news source
covering leading sectors including marijuana and hemp stocks and its potcast
site, www.potcasts.ca release today’s edition of Investorideas.com potcastsCM -
cannabis news and stocks to watch plus insight from thought leaders and
experts.
Listen to the podcast:
Read this in full
at https://www.investorideas.com/news/2019/cannabis-potcasts/05231TER-VFF-SOL-SING-ABCS.asp
Today’s podcast overview/transcript:
Good
afternoon and welcome to another episode of Investorideas.com “potcasts”,
looking at cannabis news, stocks to watch as well as insights from thought
leaders and experts.
In
today’s podcast I look at a few early announcements.
But
first, New
Frontier Data released its latest
report, the Africa Regional Hemp and Cannabis Report: 2019 Industry Outlook,
which will be presented at
the InterCannAlliance Africa Symposium. The report estimates that
Africa’s total addressable cannabis market at $37.3 billion USD; more than 11%
of the total global cannabis market.
Africa is positioned to have
a profound effect on the global cannabis market.
“Demand for CBD products
continues to surge across Europe, and many including Canada, which now imports
from Colombia to help meet this growing demand, are looking to capitalize on
it. It will be interesting to see if Africa’s proximity to the old continent
and its many agro-based economies may be better positioned to provide a more
cost-effective supply,” noted New Frontier Data Founder and CEO Giadha Aguirre
de Carcer.
This report covers 13 African nations which encompass more than
565.4 million people, and across which nearly 42.8 million are estimated to use
cannabis at least annually. Africa’s largest cannabis markets are those with
the largest populations with Nigeria ($15.3 billion USD) and Ethiopia ($9.8
billion USD) leading the way. Africa’s annual cannabis use rate has been nearly
twice the global average use rate of 6%. By 2050 Africa’s population is
expected to double; representing 58% of total global population growth over
this time.
More details about the report
are available in the press release: https://newfrontierdata.com/marijuana-insights/one-third-of-worldwide-cannabis-users-are-in-africa/
Village Farms
International, Inc. (TSX: VFF) (NASDAQ: VFF) today announced that following the House of
Representatives concurring with the Senate amendments, House Bill 1325 will
become law in Texas, subject to the June 16, 2019 deadline for the Governor to
veto bills – a highly unlikely proposition for a bill that passed both the
House of Representatives and Senate unanimously. As a result of this legislative change,
Village Farms has begun conversion of half of its 1.3 million square foot,
ultra-high-tech Permian Basin greenhouse (which utilizes the Company's
proprietary GATES® technology) for
both cultivation of high-cannabidiol (CBD) hemp and CBD extraction. The Texas Hemp Legislation will require
licenses for both the cultivation and processing of hemp. Village Farms plans to apply for the
requisite licenses as soon as it is permitted to do under the new
legislation. No time frame has yet been
provided by the State of Texas for the licensing process.
Village
Farms has commenced conversion of the approximately 635,000 square feet of
growing area at the Permian Basin facility for hemp production, with the tomato
crop having already been removed and the construction team on site. Conversion will incorporate all of the
systems necessary for year-round hemp cultivation, however, the Company could,
with existing systems and at this time of year, immediately begin cultivating
hemp if it was licensed to do so.
Village Farms expects the Permian Basin facility to be ready for
year-round production in the third quarter of 2019, with extraction operations
also to be added in the existing facility in 2019. Following passage of the federal 2018 Farm
Bill in December 2018, Village Farms began design and development of the
site-specific growing and technical systems to be prepared for conversion upon
passage of a hemp bill in Texas.
"With
the potential for a hemp bill to be passed in Texas, we took the calculated
risk of readying a portion of our Permian Basin facility, and, as a result, we
will be a first mover in the Texas hemp industry," said Michael DeGiglio,
CEO, Village Farms International. "Village Farms applauds the Texas
legislature and all of the supporters of HB 1325 on passing this landmark bill,
in particular Sen. Charles Perry, Rep. Tracy King, and the Texas Farm
Bureau. CBD is forecast to generate
sales in the United States of more than US$16 billion by 2025 and, with passage
of this bill, Village Farms can now definitively and aggressively move forward
with its greenhouse and CBD extraction initiatives in our home state of Texas
to capitalize on this significant opportunity.
As always, we will pursue our greenhouse hemp opportunity with our
consistent focus on short-term cash flow generation and achieving profitability
as rapidly as possible."
SOL Global
Investments Corp. (CSE: SOL) (OTCQB: SOLCF) announced that its portfolio company, Heavenly Rx.
Ltd., has closed on its US$30.06 million investment in Blühen Botanicals LLC,
an industry-leading hemp and hemp-derived CBD biomass farming, processing, extraction
and retail company headquartered in Knoxville, Tennessee. SOL Global had
previously announced the assignment of its rights to acquire Blühen to Heavenly
Rx on February 25, 2019. It is expected that Blühen will become Heavenly Rx's
exclusive supplier of bulk hemp-derived CBD distillates and isolate and
hemp-based extracts, which will provide Heavenly with a guaranteed source (and
vertical integration) of the highest quality ingredients for its burgeoning
product offerings at cost-effective pricing, and will also insulate Heavenly
from the volatile pricing and quality standards that exist in the hemp biomass
wholesale markets.
Blühen
also produces its own best-in-class proprietary blend of boutique wellness
products at its dedicated pharmaceutical-grade hemp research facility in
Knoxville. The company's products include full spectrum hemp extract tinctures,
capsules, creams, 100% THC-free isolates, pet treats, and oils. Blühen
has existing farming and distribution partners across the southeastern United
States and all finished products will be manufactured in Blühen's GMP compliant
facility.
On
May 17, 2019, Blühen opened its 4,086 square-foot flagship retail location in
Knoxville, joining Blühen's three other facilities in the Knoxville area,
including Blühen headquarters, a research and development center, and its
processing facility. Blühen plans to open another retail location in Fort
Lauderdale, Florida later this year. Additionally, Blühen's Natural Hemp
Extract Softgels and Natural Full Spectrum Hemp Extract Oil can be purchased on
the company's website at
www.bluhenbotanicals.com. Additional products will be offered for
sale though the company's website in the coming months.
Heavenly
Rx acquired 50.1% of the membership interests in Blühen in exchange for
US$12.06 million in cash and $18 million in equity consideration in the form of
Heavenly Rx stock. Joe Fox, co-founder and CEO of Blühen Botanicals, will join
the Heavenly Rx executive team.
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) today reported financial results for the first quarter
ending March 31, 2019. Financial results and analyses are available on the
Company's website (www.terrascend.com) and SEDAR (www.sedar.com).
For
the three months ended March 31, 2019, TerrAscend generated revenue of $14.6
million, up from $5.0 million in the fourth quarter of 2018. As of March 31,
2019, the Company held $8.6 million in cash and cash equivalents. On May 15,
2019, the Company closed the first tranche of its previously announced private
placement with total proceeds in excess of $40.2 million. The final tranche is
expected to close on or around May 27.
The
Company reported its highest quarterly revenue to date driven by solid organic
growth in Canada as well as the January 15, 2019 closing of the purchase of the
assets which make up the wholly owned subsidiary Arise Bioscience. In Canada,
the Company experienced strong demand in both the medical and adult-use
markets; revenue for the Company's Canadian subsidiaries totaled $8.9 million
in the quarter.
"Our
sales in Canada continue to be strong, driven by demand from provincial
distributors and consumers," said Michael Nashat, TerrAscend's CEO.
"We are building industry-leading cultivation and processing capabilities.
Our Mississauga facility was recently GMP certified by the German authorities –
the only such certification granted in the last year – and exports to the EU
will commence this quarter. We are excited about additional international
expansion opportunities and will share news of these milestones as we achieve
them. We will be fully operational and ready to begin sales of edibles and
concentrates into the Canadian market in the fourth quarter."
In
the US, sales of hemp-derived products developed, manufactured, and distributed
by Arise totaled $5.7 million in the quarter.
"Our
first quarter results reflect substantial progress toward our goal of becoming
the leading North American Operator in the cannabis sector," said Matthew
Johnson, President of TerrAscend Corp., and TerrAscend USA, Inc. "While
achieving strong top-line growth at Arise, we're focused on operational
excellence that will enable us to become the leading global provider of
hemp-based products. We're nearing the closing of our acquisition of The
Apothecarium, which we announced on February 11. In New Jersey, our first East
Coast Apothecarium and supporting cultivation operations will be up and running
by the second half of the year. The foundational capabilities of our US and
Canadian businesses, coupled with future acquisitions and the procurement of
greenfield licenses, will firmly establish TerrAscend's global presence. We're
committed to continuing our hard work in order to exceed the expectations of
our patients, customers, and stakeholders."
SinglePoint (OTCQB: SING) announced today that it has signed a comprehensive supply
chain and co-selling agreement with Nevada based JMSJ Holdings. The scope of the agreement provides
SinglePoint, guaranteed access to $50 Million USD of industrial hemp derived
CBD isolate each month. SinglePoint will
then in turn offer for sale CBD Distillate, CBD Isolate, and Hemp Biomass to
fortune 500 and B2B companies to be used in the manufacturing of retail
products.
According
to President Wil Ralston, "There’s a lot of confusion among the CBD
marketplace, specifically companies that are actively endeavoring to purchase
Hemp and CBD raw materials necessary to formulate/fabricate retail
products. We dove into this intricacy and
quickly saw an opportunity for SinglePoint to step in and streamline the
exchange between buyers and sellers. Our
agreement with JMSJ Holdings gives us access to a consistent supply of products
and a direct co-selling relationship. We
are confident that customers will respond favorably and SinglePoint's revenues
attributed to the CBD market segment will grow exponentially as a result."
Meghan
Rodriguez, co-founder of JMSJ Holdings, "We are excited to partner with
SinglePoint on this bold initiative. Our
experience to date has been that in which the demand consistently outgrows the
supply. Yet, the continued demand for hemp derivatives remains prevalent, in
accordance with third-party analyst supporting expectations of consistent
market growth well into 2030. In large,
our success in the hemp market has been a byproduct of the longitudinal
approach taken to construct a robust supply chain rooted in operational
'know-how'. However, frequently the rate
at which additional market share can be acquired is directly impacted by Buyer
misinformation. Resulting in the
necessity to ask the Buyer to participate in a time-intensive process focused
on qualifying prospective clients.
SinglePoint, being a fully reporting public company brings a certain
transparency to much of the aforementioned vetting process. Our expectation is that in tandem with
SinglePoint, buyers will become aware of our premium offering; now able to
purchase goods in a condensed time frame at a meaningful internal cost
reduction. Earned efficiencies in
combination with SinglePoint's willingness to co-invest authoring a truly
‘consistent supply’ are likely to result in significant revenue."
Abacus Health Products, Inc. (CSE: ABCS) today announced that renowned Hollywood fitness trainer
and nutritional expert, Harley Pasternak, will be working with the Company to
increase public awareness of its CBDMEDIC™ line of pain relief and skincare
products.
Pasternak
is a New York Times Best Selling Author whose books have been translated into
14 languages and distributed in over 25 countries. Pasternak holds a Master of
Science in Exercise Physiology and Nutritional Sciences from the University of
Toronto and an Honors Degree in Kinesiology from the University of Western
Ontario. He is also certified by The American College of Sports Medicine and
The Canadian Society of Exercise Physiology, and served as an exercise and
nutrition scientist for Canada's Department of National Defence.
A renowned fitness and nutrition
specialist, Pasternak has worked with celebrities including Ariana Grande,
Charlie Puth, Lady Gaga, Rihanna, Halle Berry, Katy Perry, Pusha T, Megan Fox,
Robert Downey Jr., Robert Pattinson, Jessica Simpson, Gwen Stefani, Adam
Levine, Kanye West, Kim Kardashian, John Mayer, Amy Schumer, Alicia Keys, and
Jennifer Hudson.
"Harley
has been a thought leader in the world of exercise and nutrition for the last
25 years," said Perry Antelman, CEO of Abacus. "Having the
endorsement of someone committed to products backed by science is what was most
compelling to Abacus when searching for the right endorsement partner."
Abacus
and Pasternak have agreed to work together to promote the CBDMEDIC™ line of
products through personal appearances at events, interviews, and the creation
and distribution of social media content.
"Not
only have I been suggesting CBDMEDIC™ to my clients for a long time, but as
someone who suffered from arthritis and joint pain, it's brought me great
relief," said Pasternak.
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