Investor Ideas #Potcasts 547, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NASDAQ: $CGC) (NASDAQ: $CLVR)
Delta, Kelowna, BC, April 1, 2021 (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 company announcements.
Ikänik
Farms Inc. (Formerly Canadian Imperial Venture Corp.) announced that, further to its news release
dated March 30, 2021, the Company has received final approval from the Canadian
Securities Exchange and will commence trading on the CSE under the symbol
"IKNK", beginning April 6, 2021.
"I would like to thank our
investors for their patience, and everyone involved who helped us get to where
we are today. We are excited for what lies ahead in our pursuit to deliver
value to our shareholders," said Brian Baca, CEO of Ikänik.
"We are pleased to begin
trading on the CSE and proud of the major milestone it represents for our
company" said Borja Sanz de Madrid, President Ikänik International Inc.
The Company has remained focused on international operations and Latin America
positioning, completing all certifications required to export pharmaceutical
grade cannabis flower and full-spectrum cannabis oil to international clients.
Ikänik has entered the global, pharmaceutical cannabis market through its
Colombian operations, Pideka SAS ("Pideka")
and will support the European Union and Latin American markets with flower and
finished ingredient cannabis oil, produced in its Casa Flores facility. Pideka
was the first company in Colombia to export THC for commercial sale and the
first to export THC to Mexico, contributing to the legalization of the process
in both respective countries, when the process was complete. Pideka is also the
first indoor, vertical cultivator of pharmaceutical grade cannabis producer in
Colombia. The Company's certifications and operating efficiencies enable
production of cost-effective, indoor cannabis and provides access to
international markets.
Ikänik is in the process of entering
the Mexican cannabis market, through the acquisition of Delta 9 Corporation in
2020. Through D9C, Ikänik holds the sole legalized "Amparo" in Mexico
permitting the importation and registration of cannabis and hemp seeds,
legalizing the commercial process to cultivate, manufacture, distribute both
finished and bulk products nationally. The principals of D9C are seasoned
regulatory and political experts who have been working hand-in-hand with
legislators and heads of government to advance the legal framework for cannabis
legalization in the country.
Ikänik's California operations have
been led by its state-of-the-art technology-based distribution platform to
execute and deliver value and efficiency to its customers. The Company's
derives strength from the wholesale of house brands and third-party service
offerings, such as co-packing, order fulfillment, and sales services to brands
and cultivators.
Ikänik's 9,600 square foot indoor,
vertical cultivation facility in Sacramento, CA is anticipated to be fully
operational by May 2021, with a first harvest delivery of Ikänik's
award-winning flower in Q2, to support both company operated and third-party
dispensaries.
The Company is set to open its first
dispensary and consumption lounge in Palm Springs with a target opening in June
2021. The dispensary features 2,200 square feet of retail space and an 1,800
square feet lounge, which we designed to accommodate the post-COVID consumer,
through online order reservations, curbside pickup, and doorstep delivery
options.
Additionally, Ikänik has expanded
its category offering to include hemp-based CBD topical lotions and sports rubs
under both Ikänik and Pideka brand names to independent sports retail stores
and country distributors and sold over fifty-thousand units in the first
quarter of this year. To support the Ikänik brand the Company has partnered and
enrolled global athletes into its ambassador program with the recent signing of
legendary surf icon, Rob Machado, a 30-year professional surfer and one of the
sport's largest names.
The Company has teamed with
up-and-coming snowboarding phenom, Toby Miller, to support and promote the
Ikänik CBD brand among the athletic community. Toby has placed in the X games
before and has made the invitation list to compete on this year's
"invitation-only" platform. Along with earning a position on the US
Snowboard team, for the men's halfpipe competition in the up coming winter
Olympics.
Canopy
Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced that it has completed the
acquisition of AV Cannabis Inc. ("Ace Valley") - one of Ontario's
leading cannabis brands. With a strong focus on ready-to-enjoy
("RTE") products and a loyal following of millennial and Gen-Z
consumers, the acquisition will strengthen Canopy's industry leading house of
brands.
Through this acquisition, Canopy
Growth will acquire 100 percent of Ace Valley with the intention of leveraging
the Company's best-in-class national sales, marketing and distribution
capabilities to expand the product portfolio and scale the brand across Canada.
"The team at Ace Valley has
built a premium cannabis brand, with an impressive consumer following and we're
excited to deploy the full distribution power of Canopy Growth to expand the
brand to consumers across Canada," said Rade Kovacevic, President &
Chief Product Officer of Canopy Growth. "Ace Valley's complementary
consumer positioning fits perfectly into Canopy Growth's strategy of building
authentic brands that truly resonate with consumers."
"This is a Canadian success
story and proof of the enduring value of authentic, thoughtfully crafted brands
and we're proud to have built a strong and loyal consumer following behind Ace
Valley," said Mike Wagman and Jesse Dallal, Founders of Ace Valley. "Having
collaborated with Canopy Growth through the early success of the brand, we're
confident that the integrity of Ace Valley will endure as the talented team at
Canopy Growth takes it to the next level."
Ace Valley holds top 5 and top 10
market positions in Ontario across its range of SKUs1 and complements Canopy
Growth's existing portfolio of premium vapes, pre-roll joints, and gummies. Ace
Valley has carved out a leading position and a particularly strong following
among millennial and Gen-Z consumers. This success to date is a perfect example
of the continued value of consumer-focused brands, confirming that many
cannabis consumers are looking for premium, RTE products from brands they
connect with.
Clever Leaves
Holdings Inc. (NASDAQ: CLVR), a leading multi-national
operator and licensed producer of pharmaceutical-grade cannabinoids, today announced an agreement with Verdemed
Holdings Inc. (“Verdemed”), a Latin American pharmaceutical cannabis company
based in Toronto, Canada, to supply finished CBD products for the Brazilian and
Peruvian markets. The initial portfolio of products includes finished
formulations of CBD oral solutions with different concentrations used for
different indications.
Verdemed
supplies cannabis products in Brazil under the compassionate use model and has
submitted applications to register finished products in Brazil and Peru. The
products manufactured under this partnership will be registered as
pharmaceutical products and sold into distribution channels such as pharmacies
and drugstores.
“Verdemed
is an important player in the Brazilian market with existing access to patients
and is well-positioned to tackle the high regulatory hurdles in Brazil and
Peru. This partnership expands Clever Leaves’ presence in one of the largest
markets in South America,” said Kyle Detwiler, CEO of Clever Leaves. “We are
committed to increasing access for the millions of patients within the growing
Brazilian and Peruvian markets, and they will soon have access to the
high-quality products we produce thanks to Verdemed’s network.”
“Partnering
with Clever Leaves aligns with Verdemed’s mission to offer the best cannabinoid
products to all Latin Americans,” said José Bacellar, CEO of Verdemed. “Clever
Leaves’ products meet all of the regulatory and product quality standards in
each of our key markets, and their EU GMP and INVIMA GMP certifications
distinguish their products and bring higher value to patients.”
The
Brazilian and Peruvian markets are expanding, and it is estimated that the
Brazilian medical cannabis user base could reach close to 3 million people in
the next few years. According to Prohibition Partners, with a population of 32
million, Peru’s medical cannabis market is estimated to be worth approximately
$100 million. As of September 2020, almost 8,000 patients were registered in
the DIGEMID, Peru’s drug regulatory authority database.
Finally,
in legalization news, the states of New York, Virginia and New Mexico have put
through new cannabis legislation.
New
York legalized the use of recreational marijuana,
enacting a robust program that will reinvest millions of dollars of tax
revenues from cannabis in minority communities ravaged by the decades-long war
on drugs.
Gov.
Andrew M. Cuomo signed the cannabis legislation on Wednesday, a day after the
State Legislature passed the bill following hours of debate among lawmakers in
Albany.
New York
became the 15th state to legalize the recreational use of cannabis, positioning
itself to quickly become one of the largest markets of legal cannabis in the
nation and one of the few states where legalization is directly tied to
economic and racial equity.
New
Mexico lawmakers also approved a bill to legalize marijuana for
adults during a special legislative session on Wednesday, sending the
years-in-the-making legislation to the desk of Gov. Michelle Lujan Grisham (D),
who is expected to sign it into law. Lawmakers also passed separate legislation
to expunge past convictions for low-level cannabis crimes.
Legal
retail sales of cannabis are scheduled to begin by April 1, 2022.
“This is
a significant victory for New Mexico,” Lujan Grisham said after the vote.
“Workers will benefit from the opportunity to build careers in this new
economy. Entrepreneurs will benefit from the opportunity to create lucrative
new enterprises. The state and local governments will benefit from the
additional revenue. Consumers will benefit from the standardization and
regulation that comes with a bona fide industry.”
“And
those who have been harmed by this country’s failed war on drugs,
disproportionately communities of color, will benefit from our state’s smart,
fair and equitable new approach to past low-level convictions,” she said.
In
Virginia the governor on Thursday officially proposed pushing up the timeline to
implement marijuana legalization—one of a series of amendments to the reform
legislation that he’s submitting to lawmakers, who will consider them next
week.
Gov.
Ralph Northam (D) also addressed concerns over provisions dealing with home
cultivation, expungements and worker protections.
Top
legislators and reform advocates have been pushing for many of these changes,
particularly moving up the effective date. The governor’s proposal would make
it so possession of cannabis by adults 21 and older would be legal on July 1,
rather than in 2024 as the measure currently stipulates.
Home
cultivation would be allowed starting on July 1 as well. Plants would have to be labeled with
“identification information, out of sight of public view, and out of range of
individuals under the age of 21,” a summary states.
“Our Commonwealth
is committed to legalizing marijuana in an equitable way,” Northam said in a
press release. “Virginia will become the 15th state to legalize marijuana—and
these changes will ensure we do it with a focus on public safety, public
health, and social justice. I am grateful to the advocates and legislators for
their dedicated work on this important issue, and I look forward to this
legislation passing next month.”
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