Investor
Ideas #Potcasts Episode 411- #Cannabis News and #Stocks on the Move– (OTC: $CSUI)
(NASDAQ: $CRON) (TSX: $CRON.TO) (TSXV: $KHRN.V) (CSE: $TRUL.C) (CSE: $INDS.C) (CSE: $JUSH.C)
Delta, Kelowna, BC, May 8, 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/05081CSUI-CRON-KHRN-TRUL-INDS-JUSH.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.
Today’s
podcast is sponsored by Cannabis Suisse Corp. (OTC: CSUI), a research &
development company licensed under Swiss Cannabis and tobacco regulations to
cultivate and sell cannabis. The Company's facilities for producing cannabis
are based in Zurich.
The
Company grows high quality, organic cannabis with sustainable, all-natural
principles. Cannabis Suisse products are laboratory tested to ensure the end
users have access to a standardized, safe and consistent product.
In
today’s podcast we will be looking at a few public company announcements.
But
first, in recent
news, “top officials at the independent agency that
oversees the Massachusetts marijuana industry say they’re confident they can
safely reopen recreational pot stores if Governor Charlie Baker reverses his
emergency order forcing the businesses to close amid the coronavirus pandemic.”
Cannabis Control Commission chairman Steve Hoffman told
reporters after the agency’s monthly meeting Thursday that he believes
Massachusetts marijuana shops can operate safely by employing curbside pickup,
appointment-only shopping, and other similar measures adopted by retailers that
have remained open (including medical marijuana dispensaries overseen by the
commission).
Hoffman said he “wants it known” that the commission is
prepared to monitor the facilities and enforce state rules, including around
social distancing, should they reopen. And in his strongest comments yet on the
controversial cannabis shutdown, he noted that Massachusetts is the only state
where marijuana is legal to have completely closed its recreational (or
“adult-use”) industry. Marijuana
firms are ineligible
for federal bailouts, because the drug remains illegal under US
law.
“It is unfair that Massachusetts adult-use operators
are the only ones that are shut down across the country and are not eligible
for any kind of federal assistance,” Hoffman told reporters during a virtual
press conference. “I have no concerns whatsoever that we can operate this
business safely. I think we’ve demonstrated that we can do so on the medical
side of the business... [and] I think there’s absolutely no reason we can’t do
exactly the same thing on the adult-use side.”
Cronos
Group Inc.
(NASDAQ:
CRON) (TSX:
CRON) today
announced its 2020 first quarter business results.
“Cronos Group
started 2020 energized and determined to continue to see through our core
strategic initiatives to drive long-term and sustainable growth. This quarter,
we moved closer to officially entering the Israeli medical cannabis market with
our Cronos Israel operations preparing to sell PEACE NATURALS™ branded dried
flower products to medical patients. The Israeli medical market is a growing
channel, and we look forward to serving this market in 2020 and beyond,” said
Mike Gorenstein, CEO of Cronos Group.
“Despite the
challenges and uncertainty posed by the COVID-19 pandemic, we remain agile and
focused as a business. Our brand portfolio continues to launch innovative
products to consumers as we adapt to an online-first distribution model in both
the U.S. and Canada. We continue to reach our stakeholders and consumers
through creative digital marketing. And our product innovation and R&D
projects continue to progress. We believe the mission of our Company, to
improve lives through cannabinoid innovation, resonates especially well during
these times. We remain well-positioned and committed to generating sustainable,
long-term value for shareholders and are confident 2020 will be a successful
building year for Cronos Group.”
Some
of the First Quarter 2020 Highlights included:
●
Net revenue of $8.4 million in Q1 2020
increased by $5.4 million from Q1 2019. The increase year-over-year was
primarily driven by continued growth in the adult-use Canadian cannabis market,
sales resulting from the launch of cannabis vaporizers to the Canadian market,
including both adult-use and direct-to-consumer, and the inclusion of the
Redwood acquisition in our financial results.
●
Gross profit (loss) of $(6.5) million in Q1
2020 decreased by $8.0 million from Q1 2019. The decrease year-over-year was
primarily driven by an inventory write-down of $8.0 million on dried cannabis
and cannabis extracts, as well as an increase in the marginal production cost
at our Peace Naturals Campus, as we continue working towards operating at full
capacity after the repurposing of the facility in the fourth quarter of 2019.
●
The Company incurred an inventory
write-down of $8.0 million, on dried cannabis and cannabis extracts, primarily
driven by fixed-price contracts negotiated prior to cannabis product price
compression due to broader trends of oversupply in the Canadian market. If we
were to adjust for the effects of the inventory write-downs, gross profit in Q1
2020, would have been $1.5 million, representing a gross margin of 18%. We
anticipate further inventory write-downs in the short-term due to pricing
pressures in the marketplace and the impact of the Company's operational
repurposing of the Peace Naturals Campus.
●
Reported operating loss of $45.1 million in
Q1 2020 increased by $34.9 million from Q1 2019. The reduction year-over-year
was primarily driven by an increase in general and administrative expenses as a
result of increased headcount, internal review costs of $4.4 million related to
the restatement of our 2019 interim financial statements, higher sales and
marketing costs related to brand development, and research and development
costs related to our Ginkgo partnership, activities at Cronos Fermentation, and
spending on vaporizer innovation at the Cronos Device Labs research and
development center.
Khiron Life
Sciences Corp. (TSXV:
KHRN) (OTC:
KHNRF) announced that
President Chris Naprawa will present live at Canaccord Genuity's 4th
Annual Global Cannabis Virtual Conference on Tuesday, May 12, 2020 at 11:40am
ET (8:40am PT).
Canaccord
Genuity's Annual Global Cannabis Conference is an investor-focused virtual
event that engages a global network of leading players in the cannabis
industry. To join the presentation from Mr. Naprawa visit: http://wsw.com/webcast/canaccord39/khrn
Trulieve Cannabis
Corp. (CSE:
TRUL) (OTCQX:
TCNNF), also
announced that Chief Executive Officer Kim Rivers will present
at the Canaccord Genuity's 4th Annual Cannabis Conference. The live
presentation is scheduled for Tuesday, May 12, 2020, at 11 A.M. EST.
A
webcast of Rivers' presentation will be available live on the "Investors
Relations" section of Trulieve's website and can be accessed here: http://wsw.com/webcast/canaccord39/tcnnf. A
replay of the presentation will be posted on the Trulieve website following the
event.
Indus Holdings Inc. (CSE:
INDS) (OTCQX:
INDXF), announced that
Mark Ainsworth, Indus Co-Founder and Chief Executive Officer and George Allen,
Indus Chairman of the Board and Founder of Geronimo Capital, will present via
webcast at the Canaccord Genuity 4th Annual Cannabis Conference on Tuesday, May
12, 2020, at 2:40 p.m. EST. They will also be available for one-on-one virtual
meetings throughout the day with investors.
This
virtual presentation comes weeks after the company announced its US$15.1
million recapitalization financing, along with its fiscal year end 2019
financial and operational results, and preliminary first quarter 2020
highlights. Mr. Ainsworth and Mr. Allen will discuss the company’s top
priorities, which involve finalizing its cultivation expansion, improving
operational efficiency, and focusing on the most profitable parts of the
business. The company will present its strategic plan and path to
self-sustaining profitability, operational improvements underway and 2020
go-forward strategy.
InMed
Pharmaceuticals Inc. (TSX:
IN)
(OTCQX:
IMLFF), a clinical-stage pharmaceutical company developing
medications targeting diseases with high unmet medical need and leading the way
in the clinical development of cannabinol (CBN), announced that
Eric. A. Adams, President & CEO of InMed, will present a corporate overview
as part of the upcoming virtual conference:
●
Canaccord Genuity's 4th Annual
Cannabis Conference on Tuesday, May 12th, 2020 at
12:00 PM PST / 3:00 PM EST.
12:00 PM PST / 3:00 PM EST.
A
webcast of the presentation will be available at: http://wsw.com/webcast/canaccord39/imlff as well
as from the Investor page of the InMed website at https://investors.inmedpharma.com/.
Jushi Holdings Inc. (CSE:
JUSH) (OTCQX:
JUSHF), a globally focused, multi-state cannabis and hemp
operator, announced that
Erich Mauff, Co-Founder, Co-President and Director of Jushi, will present in
Canaccord Genuity’s 4th Annual Global Cannabis Conference to be held
virtually on Tuesday, May 12, 2020.
Mr.
Mauff will present via live webcast at 8:40 a.m. Eastern Time in Track 2. The
live presentation can be accessed at the following link: http://wsw.com/webcast/canaccord39/jushf
Once again, today’s
podcast was sponsored by Cannabis Suisse Corp. (OTC: CSUI), a research &
development company licensed under Swiss Cannabis and tobacco regulations to
cultivate and sell cannabis. The Company's facilities for producing cannabis
are based in Zurich.
The
Company grows high quality, organic cannabis with sustainable, all-natural
principles. Cannabis Suisse products are laboratory tested to ensure the end
users have access to a standardized, safe and consistent product.
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
Learn more about
our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
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