Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 467 (TSX: $L.TO)
(TSX: $FAF.TO) (CSE: $IMCC.C) (NASDAQ: $NEPT)
Delta, Kelowna, BC, September 15, 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.
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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 and private company announcements.
Loblaw
Companies Ltd (TSX:
L)
has taken a significant step forward on its journey to provide Canadians with
the convenience and security of a digitally connected healthcare network.
Today, the Company announced that
its wholly owned subsidiary Shoppers Drug Mart Inc. will invest $75 million in
Maple Corporation, the leading virtual care provider in Canada, in exchange for
a material minority stake in the company.
Maple is a thriving Canadian
telemedicine provider that allows patients to connect online with a variety of
healthcare professionals, including general practitioners, specialists and
allied health professionals. As the
country evolves to a more digitally enabled healthcare system,
telemedicine/virtual care has emerged as a key enabler of reliable and
convenient access to care. This investment is an important step as Shoppers
Drug Mart looks to make this service more accessible, with a goal to provide a
seamless experience for patients as they move between virtual and in-person
care.
"The COVID-19 pandemic has
proven that Canadians need new ways, particularly virtual ways, to get access
to care," said Jeff Leger, President, Shoppers Drug Mart. "We know
that the future of healthcare is digitally enabled. We believe that our store
network and infrastructure, combined with Maple's technology can help better
connect Canadians to the healthcare support they need, whenever and wherever
they are."
Prior to the Transaction, Shoppers
Drug Mart worked closely with Maple on two strategic initiatives that gave the
Company an opportunity to more deeply understand Maple's service offering. Maple virtual care is currently available in
more than 160 Shoppers Drug Mart locations in British Columbia. Additionally,
in the early days of the COVID-19 pandemic, the two companies worked together
to make virtual care more accessible for Canadians. In less than a month, this
initiative enabled nearly 20,000 virtual care visits, during a time when Canadians
were asked to stay home and stay safe. In addition to these initiatives,
Maple's strong history of implementing custom telehealth solutions for
governments, hospitals, employers, and insurers made the investment in Maple an
attractive choice.
"We've watched virtual care
solve some of the most complex healthcare issues around the globe, as well as
right here in Canada through our own programs," says Dr. Brett Belchetz,
CEO and Co-Founder of Maple. "We're thrilled to work hand-in-hand with
Shoppers Drug Mart to bring the reliable, convenient, and high-quality access
to care that we've developed over the past five years to more Canadians than
ever before."
Led by Shoppers Drug Mart, the
leader in Canada's retail drug store marketplace and the number one provider of
pharmacy products and services, Loblaw offers full-service pharmacies and
professional care from 5,000 healthcare professionals in more than 1,800
locations in 10 provinces and 2 territories. The investment in Maple is another
critical building block in Loblaw's connected healthcare strategy, along with:
● QHR, a
leader in the electronic medical records (EMR) market, providing software and a
virtual care service (Medeo) for healthcare providers and their patients
● Wellwise,
a retail experience from Shoppers Drug Mart, created for Canadians who want to
take charge of the way they age
● The
Health Clinic by Shoppers, managed primary-care and family practice clinics,
providing patients with convenient, one-stop access to medical services and
trusted advice
Fire
& Flower Holdings Corp. (TSX:
FAF)
(OTCQX:
FFLWF), today
announced its financial and operational results for the
thirteen-weeks ended August 1, 2020.
Financial and Operational Highlights
for the Thirteen Weeks Ended August 1, 2020
● Total
revenue of $28.6 million at a gross profit of 34.8%, compared to revenue of
$11.1 million in Q2-2019 at a gross profit of 36.5% - representing a 158%
increase in revenue year-over-year.
● Adjusted
EBITDA1 (loss) of $0.3 million, reduced from $4.8 loss million in Q2-2019
through optimization of the retail store network.
● Completed
the final steps required for licensing two cannabis retail store locations in
the major urban market of Vancouver, British Columbia.
● Repayment
of $28.2 million of debt including the principal amount of 8.0% unsecured
convertible debentures and accrued and unpaid interest thereon.
● Entered
into an amendment agreement which includes a proposed early exercise of the majority
of Alimentation Couche-Tard's ("ACT") Series A warrants (through an
indirect wholly-owned subsidiary) that, upon exercise, would result in ACT
holding an approximate 15% ownership interest and gross proceeds to the Company
of approximately $19 million in 2020.
● The
proposed extension of the maturity date of the unsecured debentures held by ACT
potentially increases operational flexibility.
● Opened
two cannabis retail locations co-located with Circle K stores in the province
of Alberta.
● Continued
to refine the Company's business practices in response to the COVID-19 public
health crisis and maintained continuity of operations through digital
engagement with customers and best-in-class in-store safety protocols.
Subsequent Financial and Operational
Highlights post August 1, 2020
● Acquired
a prominent downtown Toronto cannabis retail store location at the high-traffic
intersection of Yonge Street and Gerrard Street, in close proximity to
Yonge-Dundas square.
● Launched
the Revity CBD™ private label wellness brand driven by consumer insights in the
underserved CBD market in the province of Saskatchewan, through the Company's
wholly-owned distribution business, Open Fields Distribution™.
● Hifyre's
Spark Perks™ member program achieved an increase of approximately 45,000
members since the beginning of Q2-2020 and now has more than 145,000 members in
the program that typically visit more frequently and transact with higher
basket sizes, compared to non-members.
● Continued
to realize positive financial and operational results as a result of
optimization of the retail store network with a focus on maximizing the number
of retail stores delivering positive margin contribution.
"Fire & Flower continues to
drive towards delivering positive adjusted
EBITDA and during our second quarter of fiscal 2020, we have made
meaningful progress towards this critical goal," shared Trevor Fencott,
Chief Executive Officer of Fire & Flower. "We believe the Company is
well positioned to expand its footprint in the Ontario market and expects to
have access to the necessary capital to support our growth plans. As the
cannabis and retail industry continue to adapt to the COVID-19 public health
crisis, we will remain on the leading edge of driving consumer engagement in
this dynamic environment."
IM
Cannabis Corp. (CSE:
IMCC), a multi-country operator in the medical cannabis
sector with operations in Israel and across Europe, announced the
first shipment from its EU-GMP supply partner into Germany. The Company is also
announcing three new distribution agreements signed by its German subsidiary
Adjupharm GmbH, bringing the total number of distributors in its German
distribution network to ten.
"The German market is growing
rapidly and we have executed on building an excellent foundation to distribute
our proprietary products across the highly fragmented pharmacy channel. As we
scale imports from our EU-GMP supply partners, we will continue to add new
products and new formats for the German medical cannabis market to establish
IMC as the favoured brand known for consistency and quality. Our vision for
leadership in global medical cannabis is progressing well and we are on the
right path to achieve this goal through a network of trusted partnerships that
drive product volumes, brand recognition and shareholder value in the
long-term," said Oren Shuster, CEO of IMC.
Expanding
the German Distribution Platform
IMC has received the first commercial
shipment of medical cannabis into Germany from its EU-GMP supply partner. The
shipment has now been cleared by the German regulator and has been delivered to
fulfill purchase commitments with ten distribution partners in Germany. These
imports will be sold in Germany under the IMC brand.
IMC has also announced it has
secured three new distribution agreements with additional partners in Germany
that will sell IMC-branded cannabis (the "German Distribution
Agreements"). All of the German Distribution Agreements include binding
purchase commitments.
The German Distribution Agreements
introduce the following distributors to IMC's existing German distribution
network:
- Cansativa GmbH ("Cansativa") - Cansativa was
founded in 2017 and, through two EU-GMP and EU-GDP licensed facilities in
Germany, it has sold over 50,000 units of medical cannabis products;
- Ilios Sante GmbH ("Ilios") - Founded in 2018,
Ilios is a EU-GDP certified wholesaler and importer of narcotics and
pharmaceuticals, focusing on cannabinoids as an alternative medicine; and
- Farmako GmbH ("Farmako") - Farmako is a pharmaceutical wholesale
based in Frankfurt. It was been distributing medical cannabis in Germany
since March 2019 and is licensed to begin distribution operation in the
U.K. Farmako is a subsidiary of AgraFlora Organics International Inc.
(CSE:AGRA).
Through Adjupharm, IMC has binding
purchase commitments for the sale of a total of 1,525kg of medical cannabis in
Germany under existing purchase commitments, 823kg of which is expected to be
delivered in 2020, both not including the German Distribution Agreements.
Purchase commitments under the German Distribution Agreements are expected in
the near term.
Neptune
Wellness Solutions, Inc. (NASDAQ:
NEPT) (TSX:
NEPT), a diversified and fully integrated health and
wellness company focused on natural, plant-based, sustainable, and
purpose-driven lifestyle brands, announced that
the Company has been listed #11 in the TSX30 program and named as one of
Canada's top growing companies.
The Toronto Stock Exchange (TSX)
ranked Neptune amongst the thirty top-performing TSX stocks over a three-year
period based on dividend-adjusted share price appreciation, through inclusion
in the TSX30 program. In addition, Neptune has been included in the Report on
Business list of Canada's Top Growing Companies for its three-year cumulative
revenue growth.
"Since Neptune first publicly
listed its shares in 2011, the Toronto Stock Exchange has been an outstanding
platform for North American investors to participate in the growth of our
Company—especially in the past twelve months as we have transformed our
business from primarily business-to-business and have extended our reach to
business-to-consumer and direct-to-consumer," said Michael Cammarata,
Chief Executive Officer and President of Neptune.
"The TSX provides us with
increased exposure to the North American investment community on both the
buy-side and sell-side, along with access to data that gives us the ability to
understand our trading activity and how to better communicate with investors.
"This is a significant
development and honour for Neptune. It reflects the strong performance of
Neptune's business and our recent transformation as well as positive investor
response and buy-in of our strategic vision to build a broad portfolio of
natural, plant-based, and sustainable brands and consumer packaged products in
key health and wellness markets, including hemp, nutraceuticals, personal care,
and home care.
"It's particularly noteworthy
that Neptune is honoured during the challenging COVID-19 pandemic," Mr.
Cammarata added.
"I'm incredibly proud of how
the entire Neptune team has persevered through these challenging times. The
first quarter of fiscal 2021 marked a turning point for Neptune. We quadrupled
first-quarter revenue to more than $21.3 million and generated gross profit
margin improvements, which reflects increasing volumes and efficiencies. We
attribute these milestones to our team's hard work and dedication to our
mission of redefining health and wellness. They remained agile and responsive
to changing market conditions amid the COVID-19 pandemic as we sped up new
product initiatives and executed against the strategy of a fully integrated
health and wellness business.
"We are building our brands and
innovations, moving closer to the consumer, and offering exceptional service to
our B2B customers. We now move forward with a focus on consumer product goods,
a direct-to-consumer business model, and a goal to enhance our own intellectual
property."
Both the TSX30 and Canada's Top
Growing Companies programs launched in 2019. The TSX30 program includes companies
from a wide range of sectors and serves to highlight the power and diversity of
investment opportunities in Canada's world-class marketplace. The Report on
Business Top Growing Companies award aims to celebrate entrepreneurial
achievement by identifying and amplifying the success of growth-minded,
independent businesses in Canada.
The full list of 2020 winners for
both the TSX30 and Canada's Top Growing Companies is published TK and online at
www.tsx.com/tsx30 and www.tgam.ca/TopGrowing,
respectively.
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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