Investor Ideas #Potcasts
562, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C), (NASDAQ: $VFF)
(TSX: $VFF.TO), (CSE: $TRUL.C) (OTC: $TCNNF)
Delta, Kelowna, BC, May 10, 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/2021/051021-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/05101XTRX-VFF-TRUL.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 public company announcements.
Village
Farms International, Inc. (NASDAQ:
VFF)
(TSX:
VFF)
today
announced its financial results for the first quarter ended
March 31, 2021. All figures are in U.S.
dollars unless otherwise indicated.
The Company's financial statements
for the three months ended March 31, 2021, as well as the comparative periods
for 2020, have been prepared and presented under United States Generally
Accepted Accounting Principals ("GAAP"). On March 31, 2021, Village
Farms owned 100% of Pure Sunfarms Corp., as the full acquisition of the
remaining interest in Pure Sunfarms occurred November 2, 2020. Accordingly, for the three months ended March
31, 2021, Pure Sunfarms' financial results are consolidated with Village Farms'
results. For the three months ended
March 31, 2020, Pure Sunfarms is accounted for on a proportionate basis within
"Equity Earnings from Unconsolidated Entities".
Pure Sunfarms Highlights Included:
● Achieved
its third consecutive quarter of sequential growth in its priority sales
channel, Retail Branded Sales, of 20% or greater;
● Achieved
its tenth consecutive quarter of positive Adjusted EBITDA; and,
● Was the
top selling brand of dried flower products with the Ontario Cannabis Store
(OCS) (by kilograms sold and dollars sold) for the quarter ended March 31, 2021
and remained the top-selling brand of dried flower products with the OCS (by
kilograms sold and dollars sold) since retail branded sales launch in October
2019.
● Produce
sales increased 9%, however, Produce Adjusted EBITDA decreased 50% as a result
of lower pricing as the tomato industry is experiencing one of the lowest
pricing environments for tomatoes-on-the-vine and beefsteak varieties in the
past ten years;
● Completed
a registered direct offering with certain institutional investors for the
purchase and sale of an aggregate of 10,887,097 common shares at a purchase
price of US$12.40 (approximately C$15.70) per Common Share for gross proceeds
of approximately US$135 million (approximately C$171 million);
● Received
warrant exercise proceeds of US$17.7 million resulting in the issuance of
3,045,283 additional common shares. The warrants were issued as part of the
September 2020 Registered Direct equity offering. As of the date of this news
release, 1,652,830 warrants remain outstanding;
● Repaid
in full the C$19.9 million (approximately US$15.6 million) promissory note,
plus accrued interest of C$621,534.25 (approximately US$486,849.78), that the
Company issued to Emerald Health Therapeutics, Inc. as partial consideration
for the November 2020 acquisition of the remaining common shares of Pure
Sunfarms that the Company did not own; and,
● Was
added to the S&P/TSX Composite Index (Consumer Staples sector) prior to
trading on March 22, 2021.
● Increased
the equity investment in Altum International Pty Ltd from 6.6% to just under
12% as a capital efficient means to participate in international opportunities
in the Asia-Pacific region.
● Village
Farms amended the Operating Loan terms to extend the credit agreement with an
amended line of credit of C$10,000 and maturity date of May 7, 2024.
"The
first quarter of 2021 was yet another strong quarter for Pure Sunfarms, which
delivered its third consecutive quarter of strong sequential growth in our
priority sales channel, Retail Branded Sales – up 20% from the fourth quarter –
and is especially encouraging given the softness in the Canadian market due to
pandemic restrictions, which stalled sales growth for the rest of the
industry," said Michael DeGiglio, CEO, Village Farms. "Our continuing
strong momentum was again driven by Pure Sunfarms' leading market share
performance in dried flower1 which remains by far the largest product category,
with our brand success firmly rooted in our reputation for premium quality
products at an everyday price. This,
combined with our best-in-class operations, low-cost production and prudent
SG&A management enabled Pure Sunfarms to deliver its tenth consecutive
quarter of positive Adjusted EBITDA – every quarter since commencing sales in
late 2018."
"As
we look ahead, our 1.1 million square foot Delta 3 facility is operating at
full capacity, and with expected strong growth demand we look forward to
significantly expanding our production capacity in the coming months, with
plans to increase capacity by 50% by year end and double it in the second half
of 2022. All of this positions Pure
Sunfarms – with our existing assets and operations – to meaningfully and
sustainably grow its profitability over both the short- and long-terms."
"Our
continued success and leadership in Canada provide great confidence in our U.S.
and international cannabis plans. We continue to monitor the regulatory
progress in the U.S. in terms of our opportunity to legally participate in what
we believe will be a different market environment that will position
experienced, new entrants for success.
We are confident that our unparalleled large-scale, low-cost cultivation
capabilities, alongside one of the largest high-tech greenhouse footprints in
the country, will provide a meaningful advantage to capitalize on this
significant opportunity. We will do so strategically, with prudence and our
unwavering commitment to return on investment. In tandem, internationally, we
continue to pursue targeted, strategic opportunities for the long-term that,
again, meet our thresholds for return on investment."
Trulieve
Cannabis Corp. (CSE:
TRUL) (OTC:
TCNNF) and Harvest
Health & Recreation Inc. (CSE:
HARV)(OTCQX:
HRVSF) announced that
they have entered into a definitive arrangement agreement pursuant to which
Trulieve will acquire all of the issued and outstanding subordinate voting
shares, multiple voting shares and super voting shares of Harvest. Under the
terms of the Arrangement Agreement, shareholders of Harvest will receive 0.1170
of a subordinate voting share of Trulieve for each Harvest subordinate voting
share (or equivalent) held, representing total consideration of approximately
$2.1 billion based on the closing price of the Trulieve Shares on May 7, 2021.
Trulieve, a leading multi-state
operator with a focus on the northeast and southeast regions of the United
States, and Harvest, a leading multi-state operator with a focus on the west
coast and northeast regions of the United States, have built deep, vertically
integrated operations in their key markets, becoming leading operators in the
United States, the world's largest regulated cannabis market.
Upon completion of the Transaction,
as well as the closing of other previously announced acquisitions by Harvest
and Trulieve, the combined business will have operations in 11 states,
comprised of 22 cultivation and processing facilities with a total capacity of
3.1 million square feet, and 126 dispensaries serving both the medical and
adult-use recreational cannabis markets.
Key
Transaction Highlights and Benefits
● Increases Scale Across Our Hub Markets – through
the creation of the largest U.S. cannabis operator on a combined retail and
cultivation footprint basis;
● Creates the Most Profitable US MSO – with
combined 2020 Adjusted EBITDA of $266 million1,2 and combined 2021E consensus
Adjusted EBITDA3 of $461 million, delivering an unparalleled platform for
continued growth;
● Delivers a Superior Existing Retail and
Distribution Model – from a robust retail network of 126
dispensaries across 11 states, the combined company will have leading market
shares in Arizona and Florida;
● Strong and Expanding Multi-State Presence –
bolsters
Trulieve's expansion in US northeast and southeast hubs in Florida,
Pennsylvania and Maryland, and establishes a southwest hub in core markets
including Arizona, where recreational adult use of cannabis was recently
legalized;
● Optimizes Nationwide Presence – through
well-established retail and wholesale channels across markets, as well as the
ability to reach an estimated total addressable market of US$19.3 billion in
2025E (Arcview market estimate);
● Adds Premium Brands – to
Trulieve's portfolio of in-house brands and national brand partners with a
successful line of products across multiple form factors;
● Leverages Expert Operating Teams and Best
Practices – from each of Trulieve and Harvest, enhancing
operational excellence by combining unparalleled knowledge of, and success in
winning, state license application processes and the ability to rapidly bring
operations to market; and
● Accretive Transaction Reinforces Trulieve's
Leading Financial Metrics – by reinforcing superior financial
performance relative to peers through industry-leading margins and strong
projected profitable growth.
"Today's announcement is the
largest and most exciting acquisition so far in our industry, creating the most
profitable public multi-state operator.
Importantly, our companies share similar customer values with a focus on
going deep in core markets. This combination offers us the opportunity to
leverage our respective strong foundations and propel us forward with an
unparalleled platform for future growth," stated Kim Rivers, Chief
Executive Officer of Trulieve. "Harvest provides us with an immediate and
significant presence in new and established markets and accelerates our entry
into the adult use space in Arizona. Trulieve and Harvest are leaders in our
markets, recognized for our innovation, brands, and operational expertise with
true depth and scale in our businesses. We look forward to providing
best-in-class service to patients and customers on a broader national scale as
we create an iconic US cannabis brand."
"We are thrilled to be joining
Trulieve, a company that has achieved unrivaled success and scale in its home
state of Florida," said Steve White, Chief Executive Officer of
Harvest. "As one of the oldest
multi-state operators, we believe our track record of identifying and
developing attractive market opportunities combined with our recent successful
launch of adult use sales in Arizona will add tremendous value to the combined
organization as it continues to expand and grow in the coming years."
OG DNA Genetics, a
globally recognized leading cannabis brand, today
announced a licensing agreement with UNIVO Pharmaceuticals LTD, an Israeli based medical cannabis
company trading on the Tel Aviv stock exchange under the symbol (UNVO.TA).
This
Agreement will grant UNIVO license to the DNA brand and access to their
proprietary library of award-winning genetics (including Kosher Kush) for use
at the company’s 5-acre cultivation facility located in the south of Israel.
“We’re
excited to announce our partnership with UNIVO Pharmaceuticals and our entry
into the rapidly developing Israeli medical cannabis market. Through this
partnership, we will be able to bring our unique varieties to Israel and
develop new and exciting cannabis-derived medicinal products to export
internationally. We couldn’t ask for a better partner to enter the Israeli
medical cannabis market with than UNIVO Pharmaceuticals,” said Rezwan Khan,
President of DNA Genetics.
“We
are pleased to announce a strategic joint venture with DNA Genetics, a
well-known global player in the field of cannabis, who has examined the Israeli
market and partnered with us to build a joint international brand. We strongly
believe that the technological and marketing capabilities of both companies
will result in a high quality and competitive brand that will be launched
shortly, which will contribute to our market presence both locally and outside
our domestic Israeli market,” said Golan Bitton, CEO of UNIVO Pharmaceuticals.
"We
are pleased to partner with DNA Genetics, one of the leading companies in the
field of cannabis genetics and farming. Our professional teams will collaborate
on Amit Farm to develop new cannabis strains while growing the best genetics
and make available the best products using our leading global standard farming
infrastructure for the benefit of patients in Israel and other countries,"
said Omer Layani, Amit Farm Manager.
Since
its inception, the genetics developed by DNA have won more than 200 awards, in
all
categories,
at the most prestigious cannabis events around the world – making DNA the
global standard in breeding and growing truly best-in-class strains. These
awards include the High Times’ Top 10
Strain of the Year, which was inducted into the High Times Seedbank Hall of Fame in 2009, the High
Times’ 100 Most Influential People in the
Industry, and the High Times’ Trail
Blazers Award, for contributions made towards uniting the fields of
entrepreneurship, politics, and medicine.
Veridocs Inc., a
leader in solutions for ID authentication and identity management, announced the
introduction of the Veridocs BrightTower Retail Safety and Security System.
This affordable, modular system automates the age verification process with
technology far more advanced than a barcode scan and can also check internal
and external watch lists according to state and local regulations. With ID
readers, software, training, and additional options and integrations,
BrightTower Retail delivers a flexible tool that outperforms standard ID
verification systems and helps cannabis retailers maintain strict compliance.
BrightTower
Retail’s ID authentication starts when a customer or staff member inserts an ID
into the reader. It is quickly compared against a global database to confirm
the presence of security features such as UV and other specialized inks, plus
other electronic features present in the document. The technology confirms a
match between the encoded data (such as barcodes and chips) with the data
printed on the front of the document. This helps retailers easily spot barcode
forgeries, which are increasingly common on fake IDs.
Cannabis
retailers also have the option of incorporating watch list checks,
automatically comparing the data on the ID document to databases as required by
any state and local regulations. An option for facial matching compares the ID
photo to a live image of the person presenting the ID, giving staff a useful
tool to flag customers “borrowing” an older sibling or friend’s ID. Retailers
can also use the technology to keep audit trails of ID scans for future
reference and enforcement concerns.
BrightTower
Retail includes on-demand training modules designed by experts in
organizational safety and security. With this training, retailers can easily
onboard staff members and help them make the right decisions when a fake ID is
flagged, or a security concern arises.
Additional
options such as security cameras with covert triggers are available for users
to add extra layers of protection customized for their environments.
BrightTower’s security experts—veterans of safety, security and fraud
prevention—are also available for custom consulting and on-site assessments and
trainings.
“BrightTower
Retail was designed to help eliminate staff guesswork in spotting fake or
‘borrowed’ IDs,” Veridocs President and CEO Joe Oprosko said. “We’re giving
retailers the tools—in both technology and training—to be certain they’re
protecting themselves against fines, possible threats and fraud.”
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.
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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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