Investor Ideas #Potcasts
550, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NASDAQ: $CGC)
(TSX: $FIRETO) (CSE: $PULL.C) (CSE: $HOLL.C) (CSE: $CURA.C)
Delta, Kelowna, BC, April 8, 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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https://www.investorideas.com/Audio/Podcasts/2021/040821-StocksToWatch.mp3
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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) (NASDAQ: CGC) and The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) announced that they have entered into a
definitive arrangement agreement under which Canopy will acquire all of Supreme
Cannabis' issued and outstanding common shares in a transaction valued at
approximately $435 million on a fully-diluted basis.
Under the terms of the Arrangement
Agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy
common share and $0.0001 in cash in exchange for each Supreme Cannabis Share
held. The Transaction provides Supreme Cannabis shareholders with a premium per
Supreme Cannabis Share of approximately 66% based on the closing prices of the
Supreme Cannabis Shares and Canopy common shares on the Toronto Stock Exchange
as of April 7, 2021.
The Transaction is expected to
provide several benefits to both Canopy and Supreme Cannabis shareholders.
Notably, following completion of the acquisition, Canopy will possess a
strengthened brand portfolio including one of Canada's leading premium brands,
7ACRES. Brand growth is anticipated with distribution supported by Canopy's
robust sales and distribution network as well as superior consumer insights and
R&D capabilities. In addition to receiving a market premium, Supreme
Cannabis shareholders will also benefit from Canopy's US CBD business and
conditional positioning for continued exposure to the US market expansion.
Further value will be derived through the scalable Kincardine, Ontario production
facility, which has a demonstrated record of producing premium flower at low
cost.
Key
Transaction Highlights
Solidifies
Canopy's leadership position in the Canadian recreational market,
well-positioned for growth: The Transaction combines Canopy's
preeminent position with Supreme Cannabis' Top-10 position in Canada to create
a pro forma Canadian recreational market share of 13.6%(1), including 7ACRES
holding Canada's number one premium flower brand position, number one in PAX
vapes, and Top-5 in pre-rolled joints(2).
Adds
premium brands to Canopy's portfolio: The addition of
Supreme Cannabis' premium brands, 7ACRES and 7ACRES Craft Collective,
complement Canopy's current consumer offering and will strengthen Canopy's
brand portfolio, with both brands expected to continue to grow with further
investment and expansion. Supreme Cannabis' Blissco and Truverra brands also
add breadth to Canopy's market presence in both the recreational and medical
markets.
Brings
a premium, low-cost and scalable cultivation facility to Canopy's production
capabilities: Supreme Cannabis' hybrid-greenhouse cultivation
facility at Kincardine, Ontario has a demonstrated capability of consistently
producing premium flower from sought-after strains at low cost with significant
potential for scaling.
Secures
an immediate attractive premium for Supreme Cannabis shareholders: The
Transaction provides Supreme Cannabis shareholders with a premium per Supreme
Cannabis Share of approximately 66% based on the closing prices of the Supreme
Cannabis Shares and Canopy common shares on the TSX as of April 7, 2021.
Participation
by Supreme Cannabis shareholders in the future of Canopy: The
Supreme Cannabis shareholders will receive Canopy common shares pursuant to the
Transaction and will have access to Canopy's consumer insights, advanced
R&D and innovation capabilities as well as the opportunity to participate
in the future growth of the US market based on the Company's conditional
positioning for rapid market entry. Post-Transaction, Canopy's industry-leading
balance sheet and cash position of approximately $2.5 billion positions the
company for further expansion and product development.
Opportunity
to achieve potential cost synergies estimated at approximately $30mm within
two-years: Canopy anticipates post-Transaction cost synergy
opportunities across both cost of goods sold and sales, general and
administrative expenses, as it optimizes and integrates Supreme's operations
and shared services.
"As we continue to expand our
leading brand portfolio, we're excited to reach more consumers through Supreme's
premium brands and high-quality products, further solidifying Canopy's market
leadership," said David Klein, Chief Executive Officer of Canopy.
"Supreme's deep commitment to superior genetics, top-tier cultivation and
strict quality control, paired with Canopy's leading consumer insights,
advanced R&D and innovation capabilities, is expected to create a powerful
combination that aligns with our strategic focus to generate growth with
premium quality products across key categories."
"This transaction is a
testament to the value created by all the teams at Supreme and will be
beneficial to all of our stakeholders," added Beena Goldenberg, President
and CEO of Supreme Cannabis. "We have been successful at delivering great
products that achieved strong customer loyalty, and operating at levels of
efficiency that are industry-leading. We have also built a highly sought-after
premium brand in 7ACRES. Combining Supreme Cannabis with Canopy – a Canadian
market leader with exposure to the United States – presents a significant value
creation opportunity for both companies. We look forward to working with Canopy
to complete this transaction."
Pure
Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) announced the signing of a Letter of Intent
with the affiliate of a publicly traded multi-state operator (MSO) to form a
Joint Venture to install a cannabis and hemp extraction system in an existing
Michigan facility.
This MSO has a long history of
success in Oregon offering a family of products including sun-grown and indoor
premium flower, along with patented nitro sealed indoor and sun-grown pre-rolls
and jars. These products are also grown and packaged in Michigan for retail
sale in over 100+ dispensaries throughout the state.
Pure Extracts is a plant-based
extraction company focused on cannabis, hemp, functional mushrooms, and the
rapidly emerging psychedelic sector from a state-of-the-art processing facility
located just north of Whistler, British Columbia.
In Michigan, the companies plan to
join forces by combining the MSO affiliate’s local permitting, licensing, and
marketing expertise with Pure Extracts’ extraction, vape, live resin and
edibles manufacturing skills. The venture partners plan to build-out 2,600 sq.
ft. of existing, under utilized, space in the MSO’s current facility, which is
strategically located in central Michigan within a 2-hour drive of several
major markets.
Pure Extracts expects to contribute
a mix of equipment and cash to the venture, which will allow the partners to
rapidly scale-up to meet the rising demand for recreational cannabis
concentrates and edibles throughout the state.
Michigan is anticipated to follow
similar consumer trend patterns experienced in other states such as California
and Colorado where sales of extracts and concentrates eventually overtake sales
of dry-flower. Bruce Linton, co-founder and former CEO of cannabis giant Canopy
Growth and executive chairman of Michigan-based and newly public Gage Growth
Corp., recently commented in Forbes that, “Michigan is one of the fastest
growing cannabis markets in the U.S.” According to the Michigan Marijuana
Regulatory Agency (MRA), during February 2021, Michigan cannabis sales
increased 160% from a year ago to US $106.2 million, with medical sales
improving 48% to US $38.1 million and adult use sales soaring 353% to US $68.1
million.
In addition to manufacturing Pure
Extracts’ proprietary brands of vapes and edibles, the JV partners anticipate
an initial white-label order for live-resin concentrates from the MSO affiliate
as that company continues to build on the outstanding reputation its dry-flower
products have already garnered within the Michigan marketplace.
Pure Extracts CEO, Ben Nikolaevsky,
remarked, “We are really excited about launching our first US initiative into
the dynamic Michigan market, especially with experienced and entrenched
partners. There is strong demand throughout the state for the products we know
best: full spectrum oil (FSO) vapes, live resin concentrates, and edibles. With
immediate access to the MSO affiliate’s 100+ dispensary customers out of
Michigan’s nearly 400 licensed dispensaries, we expect our products to be
distributed and on-shelves in Q4 of this year.”
Expansion of the Company’s operations
in Michigan are subject to compliance with applicable state laws concerning
cannabis as well as general compliance with CSE policies and Canadian
securities laws.
Hollister
Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) and Easyriders have come together
to create high-quality cannabis products that embody the independent spirit and
attitude of the modern biker. The collaboration officially hits the road this month with
premium pre-roll packs in silver or black collectible tins featuring the iconic
Easyriders logo.
Each pack contains 10 .2-gram
pre-rolls designed for quick, socially discreet ways to medicate, microdose and
elevate on the go or when sharing with friends. The silver tin features
pre-rolls made with an artisan Sherbert strain (Girl Scout Cookies x Pink
Panties genetics), while the pre-rolls in the black tin feature lush Ice Cream
Cake flower (Wedding Cake x Gelato #33 genetics). Both are terpene-rich, indica-dominant
hybrids that may promote stress release, physical relaxation and uplifting
moods.
These initial products in the
Easyriders line will be available at dispensaries throughout California. The
line will expand later this summer with the introduction of a topical tattoo
balm.
Hollister Biosciences was founded in
the California town where an infamous 1947 biker rally birthed the outlaw biker
image and inspired the Marlon Brandon film The
Wild One, while Easyriders has been the definitive voice of motorcycle
culture for more than half a century. Shared roots in a classic Americana
culture made the companies natural ride partners from the start.
"My vision for Hollister has
always been to pay homage to the amazing biker culture that has permeated the
global landscape over the past few decades by combining it with amazing
cannabis products," says Carl Saling, the Co-Founder, CEO and Director of
Hollister Biosciences. "Easyriders is one of the most iconic and
recognizable global biker brands. With
the collaborative vision of Easyriders' Pepper Foster, we are proud to now be
their exclusive cannabis partner, and we look forward to producing a truly
authentic experience across the cannabis skus we develop and distribute across
America."
Curaleaf
Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) announced new Curaleaf branding for the
Company's recently acquired retail locations and the opening of two new
locations in Horsham and Philadelphia. The new Curaleaf-branded stores mark the
company's 11th and 12th locations in Pennsylvania. As a vertically integrated
cannabis operator known for quality, expertise and reliability, Curaleaf is the
largest national cannabis retail brand in the U.S., and will have 104 locations
across 23 states following the opening of the two new Pennsylvania
dispensaries.
Curaleaf successfully closed its
acquisition of Grassroots on July 23, 2020. In connection with that deal, nine
Herbology dispensaries in Pennsylvania—located in Altoona, Bradford,
Brookville, Dubois, Gettysburg, King of Prussia, Lebanon, Morton and
Philadelphia— have already been rebranded under the Curaleaf umbrella.
Over the coming week, Curaleaf will
open two additional retail locations in the southeastern Pennsylvania market at
255 Horsham Road in Horsham and 5058 City Avenue in Philadelphia, marking the
Company's 103rd and 104th retail locations nationwide. A ribbon cutting
ceremony with the Eastern Montgomery Chamber of Commerce at 9:30 a.m.
commemorated Horsham's opening on April 7th, and a ribbon cutting with the Main
Line Chamber of Commerce will follow at the new City Avenue location at 8:50
a.m. ET on April 12th. A portion of proceeds from both opening days will be
donated to the Central PA Food Bank and the Urban Affairs Coalition as a
continuation of Feed the Block, an initiative of Curaleaf's Corporate Social
Responsibility program developed to combat and address food insecurity in the
communities it serves.
"We are pleased to expand and
strengthen our retail presence in Pennsylvania, offering our unparalleled
patient care and education, as well as access to premium cannabis
products," said Joe Bayern, Curaleaf Chief Executive Officer. "We
look forward to serving these communities and anticipate that demand will
quickly surpass projected sales in this market, as cannabis continues to gain
acceptance for a variety of health and wellness needs."
All locations will prominently
display Curaleaf's signature teal logo, and as part of the interior design,
each store will feature hyper-local cityscape murals that capture each unique
location, further enhancing the experience and connection to the community. The
staff at each retail location remains committed to delivering unparalleled
service and creating an inclusive experience that encourages exploration and
education with a personalized approach.
Investor ideas reminds all
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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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