Investor Ideas #Potcasts
556, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C), (CSE: $MEDI.C),
(CSE: $IKNK.U.C) (TSXV: $HITI.V) (OTCQB: $HITIF)
Delta, Kelowna, BC, April 23, 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.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2021/042321-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/04231XTRX-MEDI-IKNK-HITI.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
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.
Today’s
podcast is sponsored by Phyto
Extractions Inc. (CSE:XTRX), an agricultural-scale cannabis
extraction, distillation and product manufacturer located in Langley, BC at its
co-located Health Canada Licensed Standard Processing (extraction, no
cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc.
and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs
also has a pending Health Canada R&D license amendment.
In
today’s podcast we look at a few private and public company announcements.
Myconic
Capital Corp. (formerly, Auralite Investments Inc.) (CSE: MEDI) announced that it has entered into a letter of
intent to acquire 100% of all issued and outstanding shares of Integrated Rehab
and Performance Ltd. (“IRP”). Based in Victoria, BC, IRP operates Canada’s
first and only multidisciplinary physical therapy clinic exclusively for
patients who are past or present personnel of the Canadian Armed Forces or
Royal Canadian Mounted Police, and first responders (e.g., firefighters, law enforcement officers, paramedics, EMTs,
etc.).
Under the arrangement contemplated
in the LOI, IRP’s practice would expand with the addition of new clinics in
British Columbia, as well as the introduction of ketamine treatments to IRP’s
offerings to its patients. IRP’s principal facility is located near the
Westshore Town Centre in Victoria, BC, with service offerings including:
physiatry; occupational therapy; physiotherapy; kinesiology; massage therapy;
and nutrition. The clinic’s approach is to establish a 12-week improvement plan
for each of its patients by holistically assessing existing and potential areas
of concern and formulating a goal-oriented strategy . IRP is an approved
healthcare service provider of Veterans Affairs Canada (VAC) through its claims
administrator Medavie Blue Cross.
More information about IRP can be
found on its website: https://veteranrehabandperform.com/
MEDI intends to assist IRP with the
potential addition of psychedelic-assisted treatments, including ketamine
assisted psychotherapy to its range of therapies, subject to required
compassionate and Health Canada exemptions. Several clinics in the United
States, some of which are also pending acquisition by MEDI as announced in recent
press releases, have begun offering ketamine infusions to treat conditions such
as depression and post-traumatic stress disorder (PTSD). In a 2019 CBC Radio
segment, the potential use of ketamine to restore synaptic connections in the
brain eroded by stress was explored by medical experts, along with similar
benefits which could be had through the administration of other psychedelics (e.g., LSD, psilocybin).
“There is considerable use-case of
psychedelic-assisted treatments in the Canadian healthcare ecosystem. IRP has
done a great job in providing specialized wellness services for veteran and
first responder patients in British Columbia. We look forward to partnering
with IRP to introduce innovative treatment offerings and expand its network as
they continue to improve quality of life for patients who make invaluable
contributions to Canadian society.” Robert Meister, CEO, commented, “As Canada
continues to be a leader in alternative-medicines and treatments, our goal is
to aggressively pursue Section 56 exemptions for veteran patients of IRP, in
order to be able to offer access to psychedelic assisted therapy as an addition
to their current treatment plans. IRP patients should have every right to
access leading medicines that are proving to be transformational and
therapeutic by nature.”
Pursuant to the LOI, MEDI would
acquire 100% of IRP’s issued and outstanding shares in exchange for $1,000,000,
payable in common shares in the capital of the Company (the “Consideration
Shares”). The Consideration Shares shall be issued on the date that the
transaction closes (the “Closing Date”) and shall be subject to a voluntary
lockup for a period of 18 months, released to the Vendor as follows:
● five
(5%) percent will be freely tradable on the Closing Date; and
● fifteen
and eighty-three hundredths (15.83%) percent released quarterly over six
quarters from the Closing Date.
Furthermore,
the LOI provides for a series of bonuses payable in common shares of MEDI (the
“Milestone Shares”) upon IRP successfully reaching certain milestones, as
outlined below.
|
Milestone
Description |
Deadline |
Bonus
Payable |
|
Two
new IRP clinics opened and operational with at least one registered patient
at each clinic |
September
30, 2021 |
200,000
MEDI common shares |
|
Total
gross revenue from all IRP clinics meets or exceeds CAD $2,000,000 for IRP’s
2022 fiscal year |
First
day of IRP’s 2023 fiscal year |
250,000
MEDI common shares |
|
Active
studies of wearable physical therapy technology at two or more IRP clinics
with a minimum of 20 Canadian Armed Forces veterans as participants |
---- |
100,000
MEDI common shares |
|
Facilitate
or broker one clinical or academic study of the benefits of psychedelic
intervention treatments |
---- |
100,000
MEDI common shares |
|
Referral
of 50 patients to internal psychedelic clinics |
---- |
50,000
MEDI common shares |
The
Consideration Shares and Milestone Shares shall be issued based on the volume
weighted average trading price (VWAP) of the Company’s common shares for the 10
days preceding the Closing Date or the date on which the shares are earned, as
the case may be. All Milestone Shares will be subject to a mandated trading
restriction period of four months and one day following issuance of such
shares.
As
a condition of closing the acquisition, IRP’s current Chief Executive Officer,
Steven Inglefield, will remain in his current position on a two-year contract
commencing on the Closing Date, with an option to extend at the Company’s
election. The executive contract shall additionally contain a standard
non-compete clause, the grant of 200,000 stock options of MEDI, and a 10% cash
bonus payable on annual net profit.
“We
are thrilled to be collaborating with Myconic Capital, while providing
innovative solutions to successfully improve the current care plans for
military veterans, first responders and their families,” Steven Inglefield,
CEO, IRP stated. “This strategic partnership allows us to leverage the platform
and serves as a catalyst for R&P’s growth across Canada, as it enters into
new markets and areas of treatment. As we continue to foster existing
relationships with patient advocacy groups, we are confident our developments
with treatment plans will allow for further options for those dealing with
trauma and mental health challenges.”
The
completion of the acquisition is subject to terms and conditions which include
but are not limited to the execution of a definitive agreement, completion of
satisfactory due diligence, the delivery and satisfactory review of the
financial statements of IRP, and the approval of the transaction by the boards
of directors of each of MEDI and IRP.
Ikänik Farms, Inc. (CSE: IKNK.U) announced that its wholly owned, Colombian
subsidiary Pideka SAS ("Pideka"), has completed the registration and
commercialization process of six cannabis-based cosmetic products through the
National Institute of Drug and Food Surveillance (INVIMA), the governing body
in Colombia responsible new product registrations.
"We
are excited to open the door to multiple countries concurrent with our product
registrations and look forward to better serving the Latin American markets in
the near future." said Brian Baca, CEO of Ikänik Farms.
The
product suite is comprised of cosmetic products and offers skin care benefits,
using the unique beneficial properties of cannabis derived oil. All products
are designed with plant-derived oils and cultivated under strict quality and
control standards, fortified with organic and natural ingredients to maximize
the effect of the specific product and its purpose.
The
products are medically authorized in three additional Latin American countries
through the Colombian registration, opening the door for future product
recognition and registration in the participating member countries of the
Andean Pact, which includes Bolivia, Colombia, Ecuador and Peru. The Andean
Pact accelerates the Company's ability to open multiple markets through a
singular, unified registration.
"We
are proud to have completed this major milestone and have positioned ourselves
to be a leader and cornerstone of product quality within the global
marketplace, with an initial emphasis in Latin America and Europe." said
Borja Sanz de Madrid, President of Ikänik Farms International, Inc.
High
Tide Inc.
(TSXV: HITI) (OTCQB: HITIF), a retail-focused cannabis
corporation enhanced by the manufacturing and distribution of consumption
accessories, announced approximately (CAD) $775,000 in
total retail gross revenues ("Total Sales") across all platforms on
April 20, 2021 (4/20), representing an 80% increase from the previous Tuesday.
The Company's Canadian bricks and mortar stores reported a 51% increase, while
sales across its three e-commerce platforms, grasscity.com, smokecartel.com and
cbdcity.com reported an increase of 201% percent over the previous Tuesday.
"We at High Tide have never
forgotten our humble beginnings and the customers who have helped us grow from
one small smoke shop into an international cannabis company operating 84 retail
stores across Canada and two of the world's leading e-commerce platforms for
consumption accessories," said Raj Grover, President and Chief Executive
Officer. "Our commitment to cannabis culture and the cannabis community is
deeply rooted in everything we do as a company. I'm thrilled to see that our
loyal customers have once again delivered a record breaking 4/20 sales figure
despite pandemic related restrictions in many jurisdictions," added Mr.
Grover.
Phyto Extractions
Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX) announced that it has received its R&D
license addendum in Adastra Labs Inc. that will permit some limited human
testing by licensed researchers administering or distributing cannabis to human
research subjects using cannabis obtained from a holder of a license for
processing in the final form of cannabis.
This
R&D license addendum will permit the Company to conduct in-house human
testing for taste of various cannabis products for assessment of taste, sights,
smell, or touch of cannabis.
"We
look forward to initiating human-studies and generating valuable consumer-based
data to support our product development pipeline and continue delivering
high-quality efficacious cannabis products to Canadians." Stated Dr. Kyle
Boniface, PhD."
Once
again, today’s podcast is sponsored by Phyto
Extractions Inc. (CSE:XTRX), an agricultural-scale cannabis
extraction, distillation and product manufacturer located in Langley, BC at its
co-located Health Canada Licensed Standard Processing (extraction, no
cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc.
and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs
also has a pending Health Canada R&D license amendment.
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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