Investor Ideas #Potcasts
510, #Cannabis News and #Stocks on the Move (TSX: $WEED.TO) (NASDAQ: $CGC)
(TSX: $RIV.TO) (CSE: $HOLL.C) (TSX: $VFF.TO)
Delta, Kelowna, BC, December 22, 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:
https://www.investorideas.com/Audio/Podcasts/2020/122220-StocksToWatch.mp3
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at https://www.investorideas.com/news/2020/cannabis-potcasts/12221WEED-CGC-RIV-HOLL-VFF.asp
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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 will be looking at a few private and public company
announcements.
Canopy
Growth Corporation (TSX:
WEED) (NASDAQ:
CGC)
announced that it
has entered into an arrangement agreement with its wholly-owned subsidiary The
Tweed Tree Lot Inc., Canopy Rivers Inc. (TSX:
RIV)
and its wholly-owned subsidiary Canopy Rivers Corporation pursuant to which
Canopy Growth will acquire certain assets from CRC, as set out below, in
exchange for cash, common shares in the capital of Canopy Growth and the
surrender of all shares in the capital of Canopy Rivers held by Canopy Growth
by way of a plan of arrangement under the Business
Corporations Act (Ontario).
"Canopy Rivers was established
in 2017 as a strategic investment vehicle for Canopy Growth, helping us pursue
key business opportunities including development of the Vert Mirabel greenhouse
which today is a very important component of our Canadian cannabis
operations," said David Klein, CEO, Canopy Growth. "With our new
strategy in place, it is appropriate for us to divest our interest in Canopy
Rivers to increase our focus as a company."
Pursuant to the Arrangement, Canopy
Growth will increase its fully-diluted conditional ownership in TerrAscend Corp.
("TerrAscend") from approximately 13% to approximately 21% through
the acquisition of (i) 19,445,285 exchangeable shares in the capital of
TerrAscend; (ii) 2,225,714 common share purchase warrants in the capital of
TerrAscend with an exercise price of $5.95 per share; (iii) 333,723 common
share purchase warrants in the capital of TerrAscend with an exercise price of
$6.49 per share; and (iv) a $13.2 million loan receivable owing by TerrAscend
Canada Inc. to CRC. The securities in the capital of TerrAscend are not
currently convertible or exercisable, and will not be convertible or
exercisable until federal laws in the United States with respect to marijuana
are amended.
Subject to certain rights of first
refusal, Canopy Growth will also acquire all of the common shares and Class A
preferred shares in the capital of Les Serres Vert Cannabis Inc. ("Vert
Mirabel") held by CRC, thereby increasing Canopy Growth's ownership of the
issued and outstanding common shares in the capital of Vert Mirabel from
approximately 41% to approximately 67%.
In addition, all of the obligations
of Tweed NB, a Fredericton, New Brunswick based subsidiary of Canopy Growth
that was recently closed, owing to CRC pursuant to a royalty agreement between
the parties will be terminated. The termination of the royalty agreement will
provide Canopy Growth with annual cash savings of approximately $2.9 million
per year over the balance of the 24-year term of the agreement.
Canopy Growth currently owns
36,468,318 Class B multiple voting shares ("MVS") and 15,223,938
Class A subordinate voting shares ("SVS") in the capital of Canopy
Rivers, which represent approximately a 27% ownership interest and 84% of the aggregate
voting rights of Canopy Rivers. Pursuant to the Arrangement, all of the MVS and
SVS held by Canopy Growth will be repurchased by Canopy Rivers for cancellation
on a cashless basis. Canopy Growth will not have any equity, debt or other
interest in Canopy Rivers following completion of the Arrangement.
As additional consideration for the
assets being transferred and the termination of the royalty agreement, Canopy
Growth will make a cash payment to CRC of $115 million and issue an aggregate
of 3,750,000 Canopy Growth Shares.
Hollister
Biosciences Inc. (CSE:
HOLL) (OTC:
HSTRF) a diversified cannabis branding company with products
in over 280 dispensaries throughout California, and over 80 dispensaries
throughout Arizona, announced the
launch of its 2nd fulfillment depot for its direct-to-consumer cannabis
delivery platform, Dreamy Delivery.
The Company soft launched Dreamy Delivery
to friends and family in the San Francisco Bay Area of Northern California, to
ensure a seamless customer experience in early Q4 of 2020. The Company has
expanded the Platform, with Dreamy now successfully delivering to legal
cannabis consumers in the San Francisco Bay Area of Northern California and now
Sacramento, California. The Company hopes to launch Dreamy in the Central Coast
of California by early Q1 of 2021 with the ultimate goal of delivering Cannabis
statewide.
Carl Saling, CEO of Hollister,
shared, "Very excited to have opened our 2nd direct to consumer delivery
depot in record time, allowing us to serve legal adults in the Sacramento Area.
This furthers our quest to be a dominate direct to consumer delivery platform
in California."
Pure
Sunfarms,
the wholly owned subsidiary of Village
Farms International (TSX:
VFF)
(NASDAQ:
VFF)
announced that their quality, B.C.-grown dried flower products
are now available to Canadian patients through a supply agreement with Medical
Cannabis by Shoppers Inc., a subsidiary of Shoppers Drug Mart Inc., one of
Canada’s leading health, beauty and convenience retailers. Medical consumers in
provinces and territories across Canada will now have access to Pure Sunfarms’
cannabis products, including 14g and 28g packs of dried flower.
The first of Pure Sunfarms’ cannabis
products available include five varieties of 28g packs, and assorted sizes of
signature strains Afghan Kush, White Rhino, Island Honey, Pink Kush, D. Bubba,
and Headband. Pre-roll, oil and vape offerings will become available to Medical
Cannabis by Shoppers patients in early 2021.
Registered patients across Canada
can now purchase Pure Sunfarms’ products through the Medical Cannabis by
Shoppers marketplace, the largest national platform providing medical consumers
with convenient, one-stop access to a broad assortment of safe, high-quality
products to meet their medical cannabis needs. A dedicated team of
cannabis-trained advisors and Pharmacists are available by phone or email for
those patients who require guidance and support.
“This agreement is a big milestone
for Pure Sunfarms as the leading producer of B.C.-grown cannabis products in Canada.
This marks the first time medical patients in all provinces and territories
will have access to the widest selection of our dried flower products,” said
Mandesh Dosanjh, President & CEO, Pure Sunfarms. “We’re thrilled to partner
with the Medical Cannabis by Shoppers team, to offer consumers more choice and
access to our products as the medical space evolves and grows in Canada.”
MagicMed
Industries Inc. announced
today that it has completed the establishment of the
psilocybin-derivatives patent portfolio of the PsybraryTM and the launch of the
Candidate Selection program. The
PsybraryTM is a proprietary physical and knowledgebase collection of novel
psychedelic-derivative drug candidates, manufacturing methods, pharmacological
data, and patent filings that protect all of the above.
MagicMed's Chief Scientific Officer,
Dr. Peter Facchini, stated "Our psilocybin-derivatives portfolio, which
also captures dimethyltryptamine (DMT) derivatives, now includes 12 filed
patent applications directed to 9 different chemical compound categories
covering over 125 million individual molecules.
While we certainly don't expect to synthesize all of these molecules
during the development of new drug candidates, I am pleased to announce that,
as of today's launch of the Candidate Selection program, we have already
synthesized more than 100 distinct psilocybin-derivative drug candidates in our
state-of-the-art research and development facilities".
MagicMed's Intellectual Property
Advisor, Dr. Harm Deckers, continued, "Filing this broad portfolio of
patent applications is an important moment for the Company. Now that these patent applications claiming
composition, manufacture, and methods of use are on file with the U.S. Patent
and Trademark Office, international patent treaties prevent worldwide the
issuance of claims to other parties, should any file patent applications in the
future on any of these 125 million molecules".
Mental illness is a ubiquitous human
experience and an insufficiently addressed medical need. Psychedelic-associated
therapies offer an alternative to ineffective treatments, yet the
psychedelic-based drugs themselves require improvement to achieve reduced side
effects, better efficacy, and broader patient access. The mission of MagicMed
is to develop the PsybraryTM to deliver such much needed improved drug candidates
to its biotechnology and pharmaceutical partners.
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or securities. Investors are reminded all investment involves risk and possible
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