Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NYSE:
$CGC)
(OTC: $PHOT) (TSXV: $VLNS.V) (TSXV: $NRTH.V)
(OTC: $MJNE)
Delta, Kelowna, BC, March 5, 2020 (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 podcast edition of 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/2020/cannabis-potcasts/03051WEED-CGC-PHOT-VLNS-NRTH-MJNE.asp
Today’s podcast overview/transcript:
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 public announcements.
Canopy Growth
Corporation (TSX:
WEED) (NYSE:
CGC)
announced that
the Company plans to close its facilities in Aldergrove and Delta, British
Columbia, resulting in the elimination of approximately 500 positions. In
addition, the Company no longer plans to bring a third greenhouse online in
Niagara-on-the-Lake, Ontario. These actions are part of the Company's effort to
align supply and demand while improving production efficiencies over time.
The
greenhouses in B.C. account for approximately 3 million square feet of licensed
production space and were put into commission, beginning in February 2018,
after a period of phased retrofitting to help Canopy Growth scale up to supply
the new Canadian adult-use market. Nearly 17 months after the creation of the
legal adult-use market, the Canadian recreational market has developed slower
than anticipated, creating working capital and profitability challenges across
the industry. Additionally, federal regulations permitting outdoor cultivation
were introduced after the Company made significant investments in greenhouse
production. The Company now operates an outdoor production site to allow for
more cost-effective cultivation, which will play an important role in meeting
demand on certain products that rely on cannabis extracts. Following an
organizational strategic review of production capacity and forecasted demand,
the Company announced today that these facilities in Aldergrove and Delta,
British Columbia are no longer essential to its cultivation footprint.
"When
I joined Canopy Growth earlier this year, I committed to focusing the business and
aligning its resources to meet the needs of our consumers," shared Canopy
Growth CEO, David Klein. "Today's decision moves us in this direction, and
although the decision to close these facilities was not taken lightly, we know
this is a necessary step to ensure that we maintain our leadership position for
the long-term. Along with the rest of the management team, I want to sincerely
thank the members of the team affected by this decision for their work and
commitment to building Canopy Growth."
Along
with this announcement, the Company expects, based upon information currently
available to management, to record estimated pre-tax charges of approximately
$700-800MM in the quarter ending March 31, 2020 reflecting today's announcement
as well as additional changes related to its organizational and strategic
review.
GrowLife, Inc. (OTC:
PHOT), one of the nation’s most recognized indoor
cultivation product and service providers, today
announced that it released to the public, through open source,
its design and operation instructions for its concept GrowLife Cube vertical
cannabis grow room product.
The
indoor cannabis growing facility leverages state-of-the-art technology and
design to maximize the amount of plants that can be grown in a cubic space
while utilizing technologies that decrease production costs and produce
consistent results. The system was developed by a team of engineers alongside
cannabis industry experts such as master growers and operators. It contains
several patent-pending features allowing users to collect data and make
real-time system corrections to optimize plant health.
The
company completed a Proof-of-Concept (POC) study on the proprietary vertical
grow room system and was designed to achieve the production cost of dry
cannabis per gram of fifty-cents. The POC study provided many benefits
including a reduction in energy costs and major increase of production capacity
of a traditional square foot of production space.
“As
industry leaders whose primary mission is to help our customers achieve the
most efficient growing practices, we knew that the best path forward to help
our customers who are struggling with keeping costs as low as possible would be
to release the plans to build our proprietary grow systems and offer all of the
parts to build it through our suite of services, versus building an inventory
and distributing them ourselves,” said GrowLife CEO Marco Hegyi. “We looked at
various ways to bring this revolutionary system to market, such as through the
use of licensees and distributors, or manufacturing and distributing it
ourselves. Through our analysis, it became clear that the capital expenditure
required to build out our own manufacturing and storage facilities would be too
consuming for the current market conditions. Instead, we have brought this
information to the public, allowing cultivators to investigate the details of
the system, customize it as they see fit and look to GrowLife to provide the
parts and expertise to build the systems. Ultimately we felt this was the best
way to utilize and monetize the data we collected throughout our POC study and
bring it to the market which could benefit greatly from it.”
Information
on operating the system as well as contact information for GrowLife
consultations can be found on the company’s website at https://growlifeinc.com/cube/.
Valens
GroWorks Corp. (TSXV:
VLNS) (OTCQX:
VLNCF)
today announced the launch of a line of cannabis-infused
beverages, produced under a white label agreement with A1 Cannabis Company (a
subsidiary of Iconic Brewing). The launch demonstrates Valens' leadership and
excellence in the development and manufacturing of Cannabis 2.0 products, as
the Company continues to successfully commercialize cannabis-infused beverages
within the Canadian market.
The new line of
beverages includes BASECAMP, a CBD-forward iced tea, and SUMMIT, a THC-forward citrus
water. BASECAMP will be available at select retailers throughout Ontario in the
coming days, with additional markets expected to follow. SUMMIT is expected to
be available at select stores in the coming weeks.
SUMMIT and BASECAMP
were developed using the SōRSE by Valens emulsion technology which transforms
cannabis oil into water-soluble forms for use in beverages, edibles, topicals
and other consumer products while eliminating cannabis taste, colour or smell.
The technology provides a number of advantages including faster observed onset
times compared to other infused beverages and edibles; a significant reduction
of offset time; an ability to use lower doses of cannabinoids due to enhanced
bioavailability; and increased consistency and stability with the potential to
achieve more than one-year shelf life.
"Our agreement
with A1 demonstrates the strategic value of partnering with leading companies
that share our vision and reinforces our commitment to launching the Cannabis
2.0 products that consumers are looking for," said Tyler Robson, CEO of
Valens. "This is the next step in the execution of our strategy to
introduce innovative, high-quality products that deliver safe and customized
user experiences."
Under the terms of
the white label agreement between Valens and A1 Cannabis Company, a minimum of
2.5 million cannabis-infused beverages will be produced over five years, with
the opportunity to expand on the partnership with new product offerings in the
near future.
48North
Cannabis Corp. (TSXV:NRTH)
announced that it has shipped its first order of its topical
brand Apothecanna to the Ontario
Cannabis Store for retail sale. As a result, Apothecanna will be the first legal topical brand available to
Ontario consumers.
Apothecanna, an
established U.S. cannabis brand focused on organic topical formulations, made
without the use of artificial ingredients, fillers, parabens, or GMO
ingredients, has been a leading topicals brand in the United States since its
founding in 2009. Apothecanna has developed a suite of next-generation health and
wellness cannabis products including, but not limited to: pain relief creams, a
skincare line, intamcy oil, and other therapeutic cannabis-based topicals.
To start, 48North
will be launching Apothecanna's Extra
Strength cream. The product's quick absorbing formula works fast to combat sore
and overworked areas. Harnessing the power of 48North outdoor grown cannabis,
this non-psychoactive formula uses both THC and CBD blended with high-quality
healing natural ingredients arnica, peppermint and juniper for targeted relief.
Successfully
launching the first legal cannabis topical brand in Ontario is illustrative of
48North's renewed commitment to improving operations, investing in product
design, and supporting high-quality, conscious experiences for Canadian
consumers.
"Since the
beginning 48North has been committed to selling next-generation cannabis
products to Canadian consumers. In response, the company has built landmark
partnerships with companies like Apothecanna and Avitas to bring some of the
highest-quality products to consumers. In being first to market in this product
class, 48North has the opportunity to build brand awareness and loyalty with
existing and potential consumers. I am very excited to share this product with
Ontarians, I know they are going to love it," said Kirsten Gauthier, CMO
of 48North.
MJ Holdings, Inc. (OTC:
MJNE), a leader in the Nevada cannabis market, recently
completed the test marketing of our industry leading LV Slugger 2 gram
pre-rolled “joint”.
The
company sold almost 10,000 LV Sluggers to major dispensaries in Las Vegas
during the promotion period. Shaped like a baseball bat, the largest pre-roll
available in Las Vegas is sure to be an even bigger hit this 4/20 when they
introduce the more potent LV Slugger II.
The
company is increasing their production to 20,000 LV Sluggers to meet
anticipated demand during the upcoming NCAA basketball tournament in March and
the NFL draft in April. The Company will be launching their 4/20/2020 “This
Bud’s for You” promotion in the coming days and are hopeful that it will result
in increased awareness of our Highland Brothers brand of products.
“Combining
our popcorn bud and high testing flower, we expect the LV Slugger to be one of
the most potent pre-rolls on the market with total THC approaching 25%,” said
MJ Holdings CEO Paris Balaouras.
Investor
ideas reminds all listeners to read our disclaimers and disclosures on the
Investorideas.com
website and this podcast is not an endorsement to buy products or services or
securities. Investors are reminded all investment involves risk and possible
loss of investment
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