Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 455 (TSX: $VLNS.TO)
(NASDAQ: $VFF) (TSX: $VFF.TO) (TSX: $TGOD.TO)( TSX: $ZENA.TO) (TSX: $RIV.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 private and public company announcements.
Medical
Marijuana, Inc. (OTC: MJNA) announced that the Japanese division of its
subsidiary Kannaway® had its best month ever in Company history in July 2020.
“Kannaway has made tremendous
progress around the world as consumers in Japan and across Asia continue to
show an exciting increase in interest for cannabidiol (CBD) products,” said
Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Our team has truly shown what
can be accomplished with passion, hard work and high-quality products designed
to support the body’s crucial endocannabinoid system.”
According to Prohibition Partners,
China and Japan present a large opportunity for Kannaway®’s unique line of CBD
products as they collectively account for about 90 percent of Asia’s CBD
market, projected to be worth $5.8 billion by 2024.
“Although Japan is still a new
market for us, our record-breaking month in July illustrates that, even amid a
global pandemic, consumers in the region are already responding to our
hemp-based CBD products with great excitement,” said Kannaway® CEO Blake
Schroeder. “I believe we are set up for continued growth and a vibrant future
in the market.”
The
Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) announced the rollout of various new products
as part of a custom manufacturing agreement with Verse Cannabis, a group of
innovators focused on bringing to market cutting-edge product formulations
rooted in cannabinoid science. The new products have been released under each
of the two Verse product lines, Verse Originals and Verse Concentrates, which
aim to bring premium quality offerings to Canadian consumers at affordable
prices.
The sativa-dominant Tropic Lemon
0.3g and 1g 510 thread vape cartridges are the first to launch under Verse
Originals, a line of universal cannabis products offered at a great value.
Crafted with botanical terpenes, the 0.3g value cartridges are now available in
Alberta, with British Columbia, Ontario and Saskatchewan expected to follow,
along with the launch of the 1g value cartridge in the coming weeks in Alberta,
British Columbia and Ontario. Additionally, the Verse Originals 1:20 CBD oil is
expected to be available soon in Alberta, British Columbia and Ontario. Created
using high quality extracts, the premium cannabis-derived CBD formula offers a
subtle terpene profile with a citrus aroma. In partnership with Verse, The
Valens Company will also produce and manufacture additional products for the
Verse Originals product line, including drink drops, using SōRSE by Valens
emulsion technology.
As one of the first entries into the
Canadian market, the much-anticipated Verse 0.5g crumble is now available in
Saskatchewan, with the 1g offering expected to be available in Alberta, Ontario
and Saskatchewan in the coming weeks under the Verse Concentrates line, an
ultra premium, curated collection of concentrates developed with experienced
cannabis users at the forefront. Precisely created using hydrocarbon
extraction, Verse crumble captures the essence of the indica-dominant White
Rhino strain with its high THC potency and aromas and flavors of blueberries
and mangos, green grapes and Thai Basil. The Valens Company's commitment to
building out the concentrates category in Canada is furthered by its
hydrocarbon extraction capabilities. Through this exclusive extraction process,
the delicate makeup of the cannabis plant is maintained allowing for the
original combination of cannabinoids and terpenes to remain in the extracted oil,
resulting in a refined and consistent end product.
"Canadian cannabis consumers
have been eagerly waiting for more next-generation products to hit the shelves,
and in partnership with Verse, we have come to deliver two unique product lines
with both original and reimagined high-quality cannabis extracts and
concentrates," said Tyler Robson, Chief Executive Officer of The Valens
Company. "Together with Verse, we aim to set a new industry standard for
accessibility, quality, price point and value, all of which we have favourably
captured through the brand's innovative yet simple product offering that we are
confident will meet a wide range of consumer needs.
This week’s Financial Results:
Village
Farms International, Inc. (NASDAQ: VFF) (TSX: VFF) announced its financial results for the second
quarter ended June 30, 2020. On June 30, 2020, Village Farms had a majority
(non-controlling) interest of 58.7% of Pure Sunfarms Corp. ("Pure
Sunfarms").
"The second quarter continues
to demonstrate the earnings capacity of Pure Sunfarms as it delivered its sixth
consecutive quarter of net income and seventh consecutive quarter of positive
EBITDA," said Michael DeGiglio, CEO Village Farms. "Although retail
branded sales were level compared to the first quarter on a dollar basis,
retail sales volume increased 89% as Pure Sunfarms' continued to have great
success with its large-format, value offerings, which have consistently ranked
among the best-selling dried cannabis products with the Ontario Cannabis Store
since launch. Importantly, even with its
aggressive pricing strategy a necessity in Canada to capture share from the
illicit market - Pure Sunfarms generated 33% gross margin for the quarter. We look forward to a stronger back half of
2020 for Pure Sunfarms, supported by the continued sales momentum we have seen
early in the third quarter, the addition of new provincial markets, the steady
increase in the number of retail stores throughout the country, and the
imminent launch of its first Cannabis 2.0 products and bottled oils. We have
also seen a marked uptick in activity in the wholesale business recently."
"Pure Sunfarms remains the top
selling brand of dried cannabis with the Ontario Cannabis Store to date in 2020
with nearly 14% market share as its focus on providing quality products that
consumers want at an attractive price continues to resonate well with
consumers. We expect this value
proposition to translate to the bottled oil and Cannabis 2.0 categories as
these products are introduced in the weeks and months to come. Pure Sunfarms' industry leading all-in cost
of production continues to set it apart from other suppliers, enabling it to
offer high-quality products at attractive prices to drive sales and grow market
share in the legal market, as well as to capture share from the illicit market,
while consistently generating profitability."
Zenabis
Global Inc. (TSX: ZENA) announced its financial results for the second
quarter ended June 30, 2020. All amounts, unless specified otherwise, are
expressed in Canadian dollars.
Kevin Coft, Interim Chief Executive
Officer of Zenabis, stated, "We are pleased to report that the performance
improvement measures implemented early in 2020, as well as the introduction of
new products and sales channels during 2020, continue to result in improved
financial performance for Zenabis. Adjusted EBITDA for the second quarter of
$3.1 million represents a 31% improvement over the prior quarter, which itself
was the first positive EBITDA quarter in the Company's history. Additionally,
the continuing financial improvements are manifest in the Company's cash flows
with cash used in operating activities in Q2 2020 of $3.9 million compared to
$14.3 million in the prior quarter and $17.0 million in the second quarter of
2019. Finally, the Company has made significant strides in reducing its
short-maturity debt through equity-for-debt conversions as well as the equity
raise that was successfully completed in June. Current liabilities were reduced
by $60.8 million in the quarter and total loans and borrowings were reduced in
the quarter. The Company expects that increasing provincial demand for its
products, driven by more aggressive pricing and the impact of new products
together with growth in domestic and international bulk sales channels, will
drive revenue, gross margin, and Adjusted EBITDA improvements for the balance
of 2020 and into 2021. The Company anticipates growth in net cannabis revenue
of 44% to 78% in the third quarter of 2020 versus the second quarter of 2020,
which is expected to result in consolidated Adjusted EBITDA of $4 million to $6
million for the quarter."
The
Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF), a leading producer of premium
certified organic cannabis, announced its financial results for the second
quarter of 2020 ended June 30, 2020.
These filings are available for review on the Company's SEDAR profile at
www.sedar.com.
"Since the beginning of the
global pandemic, our top priority has been the health and safety of our
employees, customers, and patients.
Despite the additional layer of complexity, we continued bringing
innovation to market, seeing sequential month-over-month growth during the
quarter while cutting costs and reducing our cash burn rate. While we are not where we had expected to be
at this time, we are seeing strong momentum on our innovative products and will
continue to right-size our business plans with a focus on getting our monthly
run rate to a scale which delivers positive operating cash flow by the end of
the year," commented Brian Athaide, CEO of TGOD. "Our products have now proven their
appeal to consumers and shown consistency and efficacy backed by scientific
research. We look forward to expanding
our portfolio with additional flower strains and variants of our 2.0 line-up
and bringing them to more stores across the country." added Athaide.
Canopy
Rivers Inc. (TSX: RIV) (OTC: CNPOF) released its unaudited condensed interim
consolidated financial statements and management's discussion and analysis
("MD&A") for the three months ended June 30, 2020.
"This quarter, we made a
strategic investment in Dynaleo, a cannabis gummies manufacturer that we
believe is well-positioned to help Canada's licensed producers and brands catch
up to consumer demand for the gummy product format," said Narbé
Alexandrian, President and CEO, Canopy Rivers. "We also continued to work
closely with our portfolio companies to help resolve some of the unique
macroeconomic challenges that emerged inside and outside of the cannabis
sector. While PharmHouse faces some immediate challenges, we continue to
believe that it has the potential to become a key component of the Canadian
supply chain for low-cost, high-quality cannabis, especially as the value
segment of dry flower becomes more prominent."
Investor ideas reminds all
listeners to read our disclaimers and disclosures on the Investorideas.com
website and that 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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