Investor Ideas #Potcasts
558, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C) (TSX: $VLNS.TO)
(OTC: $HCANF) (CSE: $TRIP.C) (TSXV: $N.V) (NYSE: $HEXO)
Delta, Kelowna, BC, April 28, 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/2021/042821-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/04281XTRX-VLNS-HCANF-TRIP-HEXO.asp
Hear Investor ideas cannabis potcast on iTunes
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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.
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 public company announcements.
The
Valens Company Inc. (TSX:
VLNS) (OTCQX:
VLNCF), a leading manufacturer of cannabis products,
announced that it has entered into a definitive agreement to
acquire all of the issued and outstanding shares of Green Roads and its majority owned manufacturing subsidiary
(collectively, "Green Roads") in a cash and share transaction for
closing consideration of US$40 million, plus up to an additional US$20 million
in contingent consideration payable upon the business achieving certain EBITDA
milestones.
With the Acquisition of Green Roads,
The Valens Company strengthens its capabilities to supply US domestic and
global markets with an expanded product offering. Additionally, the Acquisition
provides immediate entry into the US market with a trusted and leading CBD
health and wellness brand with an established manufacturing and distribution
platform. The Green Roads Acquisition is expected to be accretive to the
Company in 2021. If all the Milestones are met in 2022, the transaction
represents approximately 4.5x fiscal 2022 EBITDA. On a pro forma basis, the
combination of Valens and Green Roads results in a business which generated
total revenue of C$111.6M in 2020.
Green Roads is the largest
privately-owned CBD company in the United States, with a focus on quality from
its pharmacist-founded background. Based in South Florida, the company produces
an award-winning lineup of health and wellness products using hemp-derived CBD
across a variety of consumer categories such as oils, topicals, ingestibles,
personal care and pet products. Additionally, Green Roads provides B2B
manufacturing services for a variety of partners. Green Roads boasts a leading
market share and brand platform in the US CBD industry, with an extensive
distribution network consisting of over 7,000 retail stores and a robust
e-commerce and marketing platform with over 30,000 five-star reviews across all
its product lines. Similar to The Valens Company, Green Roads holds a deep
commitment to quality control and consumer transparency, producing
pharmacist-driven proprietary formulations that result in only the highest
quality consumer products. Green Roads is currently one of a small number of US
CBD companies that produce their products in their own cGMP facilities, a
testament to their dedication to integrity and excellence.
Tyler Robson, Chief Executive
Officer, Co-Founder and Chair of The Valens Company, said: "After
analyzing over a hundred companies across the US CBD market, we clearly
recognized the value in the Green Roads platform with its best-selling brand.
Our complementary businesses, culturally aligned teams, and shared 'it's
personal' mission to provide consumers with high quality, innovative cannabis
products led to an undeniable combination that we believe will disrupt the
industry. The acquisition of Green Roads represents only the first step in our
US expansion strategy as we expect to continue to unlock complementary,
revenue-generating opportunities while we forge our presence and build our
reputation in the world's largest cannabinoid market. Together, The Valens
Company and Green Roads make a formidable team, and the combined entity will be
primed for significant growth as the global market develops."
Valens
also announced that it
has submitted an initial application to list its common shares on the Nasdaq
Capital Market.
"We
have taken a significant step forward in achieving one of our main goals for
2021 by filing our initial application for listing on the Nasdaq on the back of
announcing our first acquisition in the US," said Jeff Fallows, President
of The Valens Company. "We believe that listing in the US will unlock
various opportunities to enhance corporate visibility, increase liquidity and
broaden overall awareness of The Valens Company to a larger investor base while
driving value for our shareholders."
The
listing of the Company's Shares remains subject to the review and approval by
Nasdaq of the Company's listing application and the satisfaction by the Company
of all applicable listing, governance and regulatory requirements. In
connection therewith, the Company expects to ask shareholders of the Company to
approve a consolidation of the Shares at the next annual and special meeting of
Shareholders scheduled for May 25, 2021. If the share consolidation is approved
at the Shareholder Meeting, the Company believes that it will meet the
requirements for listing on the Nasdaq shortly thereafter, including Nasdaq's
financial and liquidity requirements. Further details of the proposed share
consolidation will be contained in the management information circular of
Valens mailed to Shareholders and to be filed shortly on SEDAR at www.sedar.com.
The
Company currently expects that Nasdaq will make a decision on the Company's
application by the end of June 2021. The Shares will continue to be listed on
the Toronto Stock Exchange under the symbol "VLNS". In addition to
the Company's primary listing on the TSX, the Shares will continue to be quoted
on the OTCQX until such time as the Shares may be listed on the Nasdaq, if the
Company's listing application is approved.
Valens
has retained Stikeman Elliott LLP in Canada and Foley Hoag LLP in the US as
legal counsel to advise the Company throughout the application process.
Further to the joint press release
dated November 19, 2020, Halo Collective
Inc. (NEO:
HALO) (OTC:
HCANF) and Red Light
Holland Corp. (CSE:
TRIP) (OTC:
TRUFF) announced that
Articles of Incorporation have been filed with the Oregon Secretary of State to
form Red Light Oregon, Inc., a 50/50 joint venture between Halo and Red Light
Holland. The JV will be capitalized with US$50,000 from each party, and its
initial directors will be Todd Shapiro, Red Light Holland Director and CEO,
Sarah Hashkes, Red Light Holland Chief Technology and Innovation Officer, Kiran
Sidhu, Halo CEO and Director, and Katie Field, Halo President. The JV will
monitor ongoing regulatory updates regarding Oregon's Measure 109, appoint a
management team, and develop a commercialization strategy in due course.
"We are delighted to take this
next step with Halo. We now have the entity and team in place to begin laying
the groundwork for potential future participation in the Oregon Psychedelic
Magic Mushroom market." Said Todd Shapiro, CEO, and Director of Red Light
Holland. "Kiran and his team have extensive experience working with Oregon
regulators, and we could not be more excited to have them as a partner! We also
plan on continually monitoring other future markets opening in the USA as the movement,
both socially and from a therapeutic/medicinal level promoting the acceptance
of psilocybin via legal, policy and regulatory measures rapidly progress."
"We have been diligently
studying the anticipated market growth for psychedelic products and the potential
benefits for consumers. Now that Governor Brown appointed a board to oversee
Oregon's rollout of psylocibin, Halo, and Red Light decide to take the next
step towards implementing our joint venture. Todd is a visionary, and we are
thrilled to be working with him and his team to make our dream of manufacturing
and serving consumers with these new therapies a reality. The addition of Sarah, Red Light's CTO, to
the Board will enable us to stay ahead of the curve utilizing her background in
cognitive neuroscience research, immersive technology to develop psychedelic
products and consumer offerings. Stay tuned for more updates."
Further details will be announced
once available and as the contours of the Oregon regulated market begin to take
shape.
HEXO Corp (TSX:
HEXO) (NYSE:
HEXO)
today announced that its flagship Masson-Angers
cultivation campus has received its Control Union Medical Cannabis Standard
GACP (“CUMCS-GACP”) certification, the leading certification standard for
medical cannabis cultivation.
“Receiving
the CUMCS-GACP certification is a testament to the team’s attention to detail
and commitment to producing high-quality, consistent cannabis products to serve
the global cannabis industry,” said Sebastien St-Louis, HEXO CEO and
co-founder. “As we continue to go after additional market share in Canada, and
to penetrate new markets around the world, this certification demonstrates that
we continue to offer high-quality output our current and future CPG partners
can count on.”
The
CUMCS-GACP certification represents a standard of quality and consistency for
cannabis propagation, cultivation and post-harvest processes and is compliant
with both the World Health Organization and European Medicines Agency Good
Agricultural and Collection Practice guidelines.
Namaste
Technologies Inc. (TSXV:
N)
(OTC:
NXTTF) a marketplace platform for cannabis and wellness
products, announced that CannMart.com
has now been launched in french for the province of Quebec and across Canada.
The Company also provides a further corporate update.
The
Company announced that it has now launched a new french website for
CannMart.com that will offer medical products to customers across the province
of Quebec which is the second largest province in Canada and all francophones
in Canada in the language of their choice. Of particular note is that at
CannMart.com, Quebec residents qualifying for medical cannabis have access to
certain cannabis products not otherwise available in the adult recreational
market including edibles and vape cartridges. The Quebec cannabis market is
sizable, with reported cannabis sales in the adult use recreational market
alone for the three month period ending January 2, 2021 reaching in excess of
$170 million as reported by the legislated monopoly holder for recreational
cannabis sales within the province of Quebec.
This
announcement marks an important step in CannMart.com’s commercial expansion,
following months of building its portfolio and taking the necessary strategic
measures to ensure proper supply of inventory. Staff have been hired from
Quebec who are fully bilingual to offer customers an excellent experience with
customers across Canada continue to enjoy the convenience of having their
medical cannabis delivered directly to their home in a safe and convenient way.
Namaste
also advised that it's wholly owned subsidiary CannMart Labs Inc. has engaged
CannDelta with respect to its application for a Health Canada Controlled Drugs
and Substances Dealer’s Licence for distribution of controlled substances such
as psilocybin and psilocin. Namaste anticipates submission of the application
by the end of May this year. Projected timeline for receipt of approvals is by
the beginning of fiscal third quarter of 2022. Subject to Health Canada
acceptance, a Dealer’s Licence could allow Labs to engage in a number of
activities relating to the controlled substances referenced including the
research and distribution of controlled substances and the sale of controlled
substances to researchers and companies undertaking clinical trials.
The
Company would also like to invite shareholders and guests to participate in
attending a virtual town hall so they can hear a presentation on the progress
made by the Company.
● Thursday,
May 6, 2021
● 12:00
p.m. EST
● Presentation
by Meni Morim followed by Q&A
● All
Shareholders are invited to submit their questions by May 3rd to:
ir@namastetechnologies.com. Our CEO, Meni Morim, will answer submitted
investors questions during the town hall event.
● Shareholders
can access the event using the following link: http://bofc.me/may6townhall
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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