Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 434 (TSX: $WEED.TO)
(NYSE: $CGC)(CSE: $ACTG_U.C)(TSXV: $KHRN.V) (OTC: $OWPC) (TSXV: $WMD.V) (OTC: $PHOT)
Delta, Kelowna, BC, June 25, 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/06251WEED-CGC-ACTG-KHRN-OWPC-WMD-PHOT.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 company announcements.
Canopy
Growth Corporation (TSX:
WEED) (NYSE:
CGC)
and Acreage Holdings, Inc. (CSE:
ACRG.U) (OTCQX:
ACRGF) today
announced they have entered into an agreement to
amend the terms of the arrangement agreement dated April 18, 2019, as amended
on May 15, 2019, between Canopy Growth and Acreage.
Pursuant to the Arrangement
Agreement, Canopy Growth agreed to acquire all of the issued and outstanding
securities of Acreage pursuant to a plan of arrangement under the Business Corporations Act, contingent
upon the occurrence of changes in U.S. federal law to permit the general
cultivation, distribution, and possession of marijuana and subject to the
satisfaction or waiver of certain conditions to closing as set out in the
Arrangement Agreement.
Acreage and Canopy Growth entered
into the New Agreement to better align the terms of the Plan of Arrangement with
broader market and economic factors, provide Acreage shareholders with an
initial up-front payment in connection with the modification of Canopy Growth's
rights, including the extension of the term, and give Acreage shareholders the
ability to participate in upside potential upon the Triggering Event.
KEY
TRANSACTION HIGHLIGHTS & BENEFITS:
● Provides Up-Front Cash Payment. Canopy
Growth will pay Acreage shareholders and certain convertible security holders
an aggregate of US$37,500,000 (approximately US$0.30 per Existing Share
(defined below) on an as converted basis, with the final amount to be received
by each holder determined based on the number of Existing Shares into which all
of the eligible securities are convertible at the close of business on the
record date for the distribution).
● Attractive Valuation Premium. Acreage
shareholders' new Fixed Shares (defined below), each of which represents 70% of
an Existing Share, will be entitled to receive 0.3048 of a Canopy Growth Share
(defined below) for each Fixed Share held, representing a premium of
approximately 120% to the June 24, 2020 closing price of the Existing Shares
(defined below) on the Canadian Securities Exchange (the "CSE").
● Provides Potential Upside with Floating
Shares.
Acreage shareholders will be entitled to participate in the long-term value
created by Acreage, and in the U.S. cannabis industry generally, as a result of
the Floating Shares (defined below) which Canopy Growth may acquire in the
future upon the occurrence or waiver of the Triggering Event at a price based
upon the 30-day volume-weighted average trading price of the Floating Shares on
the CSE relative to the trading price of the Canopy Growth Shares on the NYSE
at that time, subject to a minimum of US$6.41 per Floating Share.
● Alignment with Economic and Financial
Market Conditions. Considering the challenging economic
environment and increasingly tighter and volatile financial market conditions,
particularly for cannabis companies, Acreage determined that the New Arrangement
represents the best available prospect that is compliant with the terms of the
Arrangement Agreement to maximize potential value for Acreage shareholders.
"The United States is going to
be a core market for Canopy Growth and this New Agreement solidifies our path
forward with Acreage," said David Klein, Chief Executive Officer of Canopy
Growth. "I am excited to bring our relationship with Acreage back to
centre stage in our U.S. strategy and look forward to a time when the laws in
the United States permit us to finalize this transaction as we march toward
bringing our exciting beverage products to the US."
Khiron
Life Sciences Corp. (TSXV:
KHRN) (OTCQX:
KHRNF) announced that it
has entered into an agreement with Nimbus Health, a leading German distributor
of medical cannabis products. Khiron
branded EU GMP medical cannabis will soon be available in Germany for
prescription by doctors and dispensation in pharmacies.
Tejinder Virk, President of Khiron
Europe, commented: "This is a major milestone for our company. Following
our recent entry into the United Kingdom, the expansion into Germany will
greatly benefit patients who still suffer from inconsistent supply. Khiron is now well positioned to service this
rapidly expanding market in Germany."
The supply of EU GMP medical
cannabis to Germany will be fully supported by the Company's global medical
education team, led by Dr. Maria Fernanda Arboleda, Khiron's International
Director for Medical Services. Dr. Arboleda is an Anesthesiologist, Pain and
Palliative Care Physician. She completed a Spine-Regional Anesthesia Fellowship
at the McGill University Health Center and a Post-Doctoral Research Fellow in
Supportive Cancer Care and Medical Cannabis, at the Department of Oncology,
McGill University, and at Santé Cannabis, a leading specialized cannabis clinic
in Canada.
Franziska Katterbach, Managing
Director & Chief Legal Officer for Khiron Europe based in Frankfurt,
commented: "Germany continues to be the European leader in medical
cannabis, with other countries observing and adapting to the German regulatory
model. The market is also differentiated with its large proportion of patient
prescriptions fully reimbursed through insurance."
One
World Pharma Inc. (OTC:
OWPC), a U.S. based, fully licensed, pure-play hemp and
cannabis ingredient producer in Colombia, announced that
the Company has commenced the selling of its characterized and registered seeds
in Colombia.
One World Pharma has executed seed
purchase agreements with three different Colombian growers and has begun
shipments of seeds already. The agreements represent sales to entities growing
both outdoor and in controlled environments.
One World Pharma previously
announced that the Colombian Agricultural Institute (ICA) has approved the
results of the seed characterization tests conducted by OWP of three
non-psychoactive genetics in two sub-regions of the country. The approval
established OWP as one of the few legal sellers of characterized hemp/CBD seeds
for the Cauca and the Andina regions of Colombia, inclusive of greater Bogota
and its surroundings. Additionally,
One World Pharma is now allowed to
sell its seeds in international markets.
“While just the beginning of our entry
into the revenue phase for One World Pharma, these agreements are a significant
benchmark in the execution of our business plan,” stated Isiah Thomas, CEO and
Vice-Chairman of One World Pharma. “Our first seed sale transactions affirm our
trusted, licensed position in the Colombian marketplace and pave the way for
future agreements and revenue.”
“We are intent on leveraging our
position and quickly moving forward to continue our growth and expansion,”
added Thomas. “The scale of our production and the expansion of our ingredient
portfolio for commercial sale are also accelerating.”
WeedMD
Inc. (TSX-V:WMD) (OTCQX:WDDMF) reported record
preliminary unaudited revenues of $12 million(1) for the three month period ended March 31, 2020. The
Company will report record sales growth representing the first full quarter of
integration with Starseed Holdings Inc. (“Starseed”) following its acquisition
in December 2019.
WeedMD will file its first quarter
2020 financial results after market on Tuesday July 14, 2020 and host a
conference call with management the following day.
“Driven by Color Cannabis brand
recognition, customer acquisition initiatives and a substantial sale of our
outdoor-cultivated biomass, our first quarter 2020 net revenues of $12 million
represents record-high sales from all channels – an increase of 325%
quarter-over-quarter,” said Angelo Tsebelis, CEO, WeedMD. “With the benefits of
our fully-integrated business model, scaled-up cultivation and production
capabilities combined with our strong distribution channels, WeedMD is uniquely
positioned for continued growth and a clear path to profitability. We are
looking forward to sharing more during our conference call in July.”
The Company will host a conference
call with management on Wednesday July 15, 2020 at 10 a.m. Eastern Time to
discuss its financial results.
The call will be hosted by Angelo
Tsebelis, CEO and Lincoln Greenidge, CFO. Management will be available for
analyst and media questions following opening remarks.
GrowLife,
Inc.
(OTC:
PHOT), one of the nation’s most recognized indoor
cultivation product and service providers, today
released the following letter from the Company’s Chief
Executive Officer, Marco Hegyi.
Dear Shareholders,
I would like to take this
opportunity to discuss some pertinent updates on what we are seeing in the
market as well as our perception of the rapidly expanding demand for consumer
CBD products. As we previously announced, GrowLife has been fully operational
throughout the COVID-19 pandemic in order to serve our customers across the
country with our leading line of hemp clones and commercial cloning products.
The spring season is a very important time for hemp farmers and with cloning
becoming more of the standard in CBD-rich hemp cultivation, it was imperative
that we meet the demand for our products without delay. I am happy to report
that our operations have continued to support the expanding demand for our
products.
I am also pleased to share that
demand for both cannabis and CBD products remains extremely high. While a delay
in FDA approval for CBD and other cannabinoid-based consumer packaged goods has
stalled further mainstream adoption, the demand for CBD products as ‘dietary
supplements’ is higher than ever. On the legal Cannabis industry side, which
was recently deemed an essential business, demand is still strong and the price
per pound has stabilized if not increased, as in Colorado where it is over
$1,000. As a result, demand for EZ-CLONE systems across the country remains
higher than ever, especially this quarter. We are so excited by these trends
and without getting into the specifics, I can share that I remain greatly
confident in GrowLife and the EZ-CLONE business, especially in the areas of
sales and operations.
On a more technical note, I wanted
to address the on-going fluctuations and pressure we are experiencing in the
market. As most people know, the market continues to see unprecedented swings
and volatility. These market conditions, paired with some unexpected selling,
has caused us to see a slide in the valuation of the company. While this is
disappointing, the fundamentals of the company remain strong. We believe the
market is undervaluing the Company based on its sales performance and we are
well positioned to continue to capitalize on the expanding CBD-rich hemp market
through our cloning equipment and proprietary hemp clone businesses. In spite of
the COVID-19 situation, we have taken the necessary precautions as an essential
business serving the demand of the industry, and continue to operate in a
healthy manner with all our employees making solid contributions. I am prouder
than ever in our team, suppliers and customers.
I look forward to sharing the results of these efforts in our upcoming
Q2 filings, which we expect to be filed on-time pending any further delays due
to the pandemic.
We will continue to update you all
as much as possible in the coming days and weeks. We appreciate our long-term
shareholders, employees, and customers for their continued belief in our
company. We hope everyone stays healthy and safe, and most importantly,
positive through these historic times.
Sincerely Yours,
Marco Hegyi
Chief Executive Officer
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