Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move: (TSX:
$TGOD.TO) (CSE: $DIXI.U.C) (OTCQX: $DXBRF) (TSX:
$TRST.TO) (NYSE: $CTST) (TSX: $WEED.TO) (NYSE: $CGC)
Delta, Kelowna, BC –August 16, 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.
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at https://www.investorideas.com/news/2019/cannabis-potcasts/08161TGOD-DIXI-DXBRF-TRST-CTST-WEED-CGC.asp
Good afternoon and welcome to another episode of
Investorideas.com "Potcast" featuring cannabis news, stocks to watch
as well as insights from thought leaders and experts.
In
today’s podcast we look at a few early announcements.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF), announced that it has completed its inaugural
shipment to the Ontario Cannabis Store, marking the Company's entrance into
Canada's recreational market. Ontario consumers will soon be able to experience
TGOD's acclaimed Unite Organic dried flower, the Company's high THC signature
strain, which will be available on
www.ocs.ca as well as at select retail locations
across the province.
"We
are thrilled to introduce Unite Organic dried flower to Ontario adult
consumers. Launched earlier this year with our Grower's Circle, Unite Organic
was highly praised by medical patients.
Our small pilot confirmed that market demand for premium certified
organic cannabis exceeds available supply," commented Brian Athaide, CEO
of TGOD. "Today's milestone gets us
one step closer to achieving our vision of becoming the world's leading brand
for premium certified organic cannabis in both medical and recreational
segments. We look forward to continuing
to expand our distribution network as we ramp up production in the months
ahead."
In a
recent study conducted by Hill & Knowlton, over 50% of recreational
consumers stated that it is important that their cannabis be organic. TGOD's
cannabis is grown in the Company's proprietary living soil, in accordance with
all-natural principles and without irradiation. The Company's growing process
is also certified organic by both Pro-cert and ECOCERT, two leading organic
certification bodies, providing consumers with a safe, consistent, and
enjoyable cannabis experience.
Initially
available to a small group of medical patients called the Grower's Circle, TGOD
recently opened sales to medical patients across the country. The Company has
also signed supply agreements with Alberta and British Columbia.
Dixie Brands Inc. (CSE: DIXI.U) (OTCQX: DXBRF) today announced a number of new product and marketing
initiatives from its pet wellness subsidiary, Therabis LLC.
Therabis,
a research-driven pioneer in the broad-spectrum hemp-based pet supplement
market, continued its heritage of vet-inspired innovation at SuperZoo 2019, the
preeminent national show for pet retailers, announcing the launch of its new Mobility soft chews for dogs. Designed
to promote joint health and a healthy inflammatory system in dogs, the new soft
chew also showcases the new brand livery and updated packaging unveiled at the
trade show and being rolled out across the Therabis portfolio.
In
addition to the new Mobility soft
chews, Therabis recently introduced a new increased strength Veterinary Formula
distributed through Vedco, the nation's largest distributor for vets. The
formula features the brand's Mobility and Calming products with higher
concentrations of naturally occurring cannabinoids and uses unique active
ingredients to help support specific aspects of pet health. Therabis Veterinary
Formula is now offered through veterinary hospitals and clinics across the
country.
Backed
by 25 years of veterinary experience Dr. Stephen M. Katz founded Therabis with
the goal of relieving some of the most common pet ailments with the proven
benefits of natural ingredients. Each Therabis product is formulated with only
the best nutritionally rich and naturally derived ingredients. The
broad-spectrum hemp-infused supplements combine naturally occurring
cannabidiol, green-lipped mussel and specific vitamins and minerals, like
vitamin C and chromium for dogs and L-Taurine for cats. These fast-acting,
powerful supplements are easy to administer and target specific conditions
including joint mobility, anxiety and skin irritation.
"Throughout
the years, Therabis continues to receive wonderful responses about our
indication-specific formulas from satisfied consumers sharing their
heart-warming success stories about their pets' improved health," said Bob
Rubin, President of Therabis. "Hearing this positive feedback from people
who buy our products is so fulfilling – there's no better feeling than knowing
we are making a difference in the lives of these animals and their
owners."
Management Cease
Trade Order
CannTrust
announced that its application for a management cease trade order
("MCTO") under National Policy 12-203 – Management Cease Trade Orders
("NP 12-203") has been approved by the Ontario Securities Commission
("OSC"). The MCTO does not affect the ability of investors who are
not insiders to trade in the securities of the Company.
CannTrust
announced on August 1, 2019 that it was filing an application seeking a MCTO
from the OSC because the Company was likely to miss its filing deadline of
August 14, 2019 to file an interim financial report for the three and six month
periods ended June 30, 2019, an interim management's discussion and analysis
for the corresponding period and certifications of interim filings (the
"Q2 Financials").
The
timing and content of CannTrust restoring any defaults in its Q2 Financials
will depend, in large measure, upon the timing and impact of Health Canada's
decisions regarding the Company's non-compliance with regulatory requirements.
Although the Company, under the supervision of the Special Committee, is
preparing a remediation plan for submission to, and consideration by Health
Canada, Health Canada has advised the Company that it is unable to provide any
guidance about the timing or content of its decisions concerning the Company.
The
MCTO prohibits the directors and executive officers of the Company from trading
in securities of the Company until two full business days after all filings
CannTrust is required to make under Ontario securities laws are made, including
filing of the Q2 Financials. The MCTO does not affect the ability of any other
persons to trade in the securities of the Company. CannTrust had already
voluntarily imposed a blackout period on its directors and executive officers
trading in the Company's securities.
The
Company intends to satisfy the provisions of the alternative information
guidelines in NP 12-203 by filing bi-weekly status reports in the form of news
releases containing prescribed updating information until the Q2 Financials are
filed.
New York Stock
Exchange Discussions
The
Company has been working pro-actively with the New York Stock Exchange
("NYSE") to keep the NYSE apprised of its interactions with Health
Canada and related matters. Following a discussion on August 9, 2019 between
representatives of the NYSE, the Company, the Company's counsel and counsel to
the Company's special committee of independent directors (the "Special
Committee"), the NYSE advised the Company that as a consequence of the
Company's announcements concerning its audited financial statements for the
year ended December 31, 2018 and its unaudited financial statements for the
quarter ended March 31, 2019, the Company is viewed as no longer having a
complete annual report on Form 40-F on file for the year ended December 31,
2018.
Trading
of the Company's securities on the TSX and NYSE continues. However, the NYSE advised the Company that
(a) it will closely monitor the status of the Company's late filing and any
related public disclosures for up to six months from its due date, and (b) if
the Company fails to file its annual report and any subsequent reports within
six months of their filing due dates, the NYSE will determine, in its sole
discretion, whether to halt trading in the Company's securities or whether to
allow the Company's securities to trade for up to an additional six months,
depending upon the circumstances. If the NYSE determines that an additional
six-month trading period is not appropriate, suspension and delisting
procedures will commence pursuant to Section 804.00 of the NYSE's Listed
Company Manual. Regardless of the procedures described above, the NYSE may
commence delisting proceedings at any time during the period that is available
to complete the filing, if circumstances warrant.
Interim Financial
Update
As
previously disclosed, the Company estimates the value of the inventory and
biological assets impacted by the pending Health Canada decisions is
approximately $51 million as at June 30, 2019. Management of the Company
further estimates the impacted inventory represents approximately 53% of the
Company's total inventory as at June 30, 2019 and the impacted biological
assets represent approximately 30% of the Company's total biological assets as
at June 30, 2019.
As
at June 30, 2019, the Company had approximately $250 million in cash and cash
equivalents.
Remediation Efforts
Under
the supervision of the Special Committee, the Company is preparing a
remediation plan for submission to and consideration by Health Canada. Although the Special Committee is directing
the Company to work closely with Health Canada to remediate the root causes of
any non-compliance identified by Health Canada, to date the Company has not had
any substantive discussions with Health Canada concerning remediation matters
and Health Canada has advised the Company that it is currently unable to
provide any guidance about the timing or content of its decisions concerning
the Company. As previously announced,
Health Canada has placed a hold on inventory which includes approximately
5,200kg of dried cannabis that was harvested in the previously unlicensed rooms
in Pelham, until it deems that the Company is compliant with regulations. In
addition, CannTrust has instituted a voluntary hold of approximately 7,500kg of
dried cannabis equivalent at its Vaughan manufacturing facility that was
produced in the previously unlicensed rooms.
Health Canada has broad discretion to exercise a wide range of
regulatory powers. In the event that
Health Canada orders the destruction of all or a substantial portion of the
product grown in the previously unlicensed rooms, the Company's results for the
second quarter of 2019 would be materially adversely impacted. Health Canada has given no clear indication
of what decisions it will come to with respect to the Company.
Lastly
we look at Canopy Growth Corporation
(TSX:WEED) (NYSE: CGC) who recently released their financial results for the first
quarter ending June 30th, 2019.
According to Morningstar Equity Research
director of basic materials Kristoffer Inton, “Shares for Canopy Growth now
trade nearly 50% below our fair value estimate [$54 per share], as the lack of
profitability continues to weigh on the market price. However, we think
focusing on profitability this early in the company’s and industry’s evolution
is misguided. Our confidence that profitability will come is bolstered by
continued positive gross profit margins, as we think that overhead expense
growth will moderate as the industry matures. We see the current share price as
an attractive entry point for long-term investors.”
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