Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 453 (TSX: $WEED.TO) (NYSE: $CGC) (TSXV: $KHRN.V) (TSX: $FIRE.TO)
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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) today announced its financial results for the
first quarter fiscal 2021 ended June 30, 2020.
The stock also rose by nearly $2 at the start of the day upon the
release of the financial results.
"We're proud of our strong
first-quarter performance, despite unprecedented volatility and uncertainty in
the market and across the globe," said David Klein, CEO. "We grew our
revenue year-over-year and are seeing market share improvement, notably
achieving number one market share in cannabis-infused beverages in the Canadian
market. We are implementing a renewed
corporate strategy with the appointment of a new leadership team which will
focus on delivering quality products to our consumers, positioning our business
for continued growth. The proposed retooled Acreage announcement refocuses our
entry for the evolving U.S. market, where we are seeing increased
momentum."
"Following our previously
announced restructuring actions, we have substantially reduced our expense and
cash burn in this quarter in addition to reducing headcount by over 18% since
beginning of this calendar year. Our
marketing and R&D investments are being re-allocated to programs with
high-return potential in order to drive sales," added Mike Lee, CFO. "Our
gross margins in the quarter came in below our expectations due to
under-utilization of our large-scale infrastructure. We've already proven we
can deliver 40%-plus gross margin and are confident that we can return to that
level as we work toward higher capacity utilization across our facilities as demand
for our cannabis products continue to grow. In the meantime, we are focused on
further optimizing our operating footprint through a full end-to-end strategy
that looks at people, process, technology, and infrastructure that we believe
will lead to best in class margins over time."
Khiron
Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) announced that it has signed a distribution
deal for its KuidaTM CBD cosmeceutical brand with DNO Group, a leading
distributor for the Asia Pacific market. Kuida skin and body care products will
be distributed by DNO Group through their network of retail and online channels
in Hong Kong, with first orders anticipated in Q4 2020. Distribution is
conditional on TSXV approval.
"With this distribution deal we
establish a significant footprint in Hong Kong for our Kuida brand and gain
access to the Asian Pacific beauty and skincare market, the world's largest
region for skincare products. DNO Group have a large distribution network of
over 50,000 points of sales in the region, including prominent pharmacy, beauty
retail and online channels that we know from experience in other jurisdictions
are where our customers are choosing to purchase Kuida products. Importantly,
DNO Group brings valuable insight into the Asian consumer profile, further
supporting the impact of the brand roll-out in Hong Kong," comments Alvaro
Torres, Khiron CEO and Director.
Hong Kong is a market that serves
both the local population of 7.2 million and serves as an import hub for
mainland China. The Hong Kong personal care and cosmetics market is
experiencing robust growth with estimated revenue of US$2.7 billion achieved in
2018 and continues to expand with many beauty and personal care items
considered daily necessities, as rising health awareness and
image-consciousness drives demand.
Seven Kuida SKU's will be
distributed into the Hong Kong market, with first orders anticipated in Q4
2020. This continues the Khiron strategy to target specific, high-value global
CBD skincare market opportunities. Kuida is now available at over 350 points of
sale in Colombia, as well as the UK and recently announced entry to Spain.
Khiron was recently recognized by Technavio Research as one of the top global
players in the CBD cosmetics market, alongside L'Oreal SA and The Estée Lauder
Companies. Technavio is a leading global technology research and advisory
company focused on emerging market trends.
"Kuida CBD based skincare
products are well suited for consumers in Hong Kong, as well as for our
portfolio and distribution capabilities. Furthermore, the efficacy of the
products themselves is impressive. We expect a highly positive sales
development for Kuida in Hong Kong going forward," said DNO Group's
Managing Director, Ofri Shaysh.
The
Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) today announced the launch of Hiway, a new
brand dedicated to providing frequent cannabis consumers with affordable
products that do not compromise on quality.
"While we continue to see a
strong market for our premium 7ACRES products, we are also seeing a tremendous
consumer response to more affordable cannabis offerings; in July, dried flower
products priced under $6 per gram accounted for approximately 40% of flower
sales in Ontario," said Beena Goldenberg, President and CEO of Supreme
Cannabis. "With Hiway, we aim to exceed consumer expectations for value
products by delivering a quality product at an affordable price. Hiway benefits
from our strong reputation and leading practices for growing and processing
high-quality cannabis products. With the launch of this value-oriented brand,
we are leveraging our competencies, capacity and efficiencies to build market
share and create an exceptional experience for more cannabis consumers."
Hiway enters the Canadian cannabis
market with Hiway Hash, a 2g solventless concentrate made by compressing dry
sift kief from trichome dense, whole plant hang dried cannabis. The result is a
picturesque brick of blonde hash that is divided into 2g pieces and packaged
with care. This high-value hash boasts aromatic notes of sour citrus, diesel
and spice as well as robust lemon and pepper flavours. Hiway Hash will
initially launch in Alberta, British Columbia and Ontario and will quickly be
available in more provinces.
Supreme Cannabis expects to expand
Hiway's product portfolio to include large format flower, additional
concentrate products, extracts and vapes. Supreme Cannabis will be promoting
Hiway and its new offerings across Canada through its innovative sales
partnership with Humble & Fume Inc., one of the industries premiere sales
agencies.
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