Cannabis stocks news - daily news on stocks on CSE, TSX, TSXV, OTC, NASDAQ and NYSE from InvestorIdeas.com
Wednesday 30 June 2021
Investor Ideas #Potcasts 581, #Cannabis News and #Stocks on the Move:. (CSE: $TRUL.C) (TSXV: $KHRN.V) (NASDAQ: $HITI) (NASDAQ: $TLRY) (TSX: $VLNS.TO)
Investor Ideas #Potcasts
581, #Cannabis News and #Stocks on the Move:. (CSE: $TRUL.C) (TSXV: $KHRN.V)
(NASDAQ: $HITI) (NASDAQ: $TLRY) (TSX: $VLNS.TO)
Delta, Kelowna, BC, June 30, 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/2021/063021-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/06301TRUL-KHRN-HITI-TLRY-VLNS.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.
In
today’s podcast we look at a few public and private company announcements.
Khiron
Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF), a vertically integrated medical
cannabis leader with core operations in Latin America and Europe, announced regulatory and supply chain advances
that accelerate Khiron's entry into the Mexican market by several months.
Leveraging the Company's designation in Colombia as a National Strategic
Project, Khiron Colombia SAS has received authorization to include Mexico as a
destination country within its international export quota, with over 700 kg of
high-THC extract now available for export to Mexico. In addition, the Company
has finalized agreements for the manufacture of finished medical cannabis
products in Mexico.
"Our goal is to improve the
lives of 1 million patients by 2024, and Mexico remains a very important part
of that plan. Thanks to our status as a National Strategic Project, Mexico is
now a destination country within our international THC quota, which is expected
to accelerate first sales by several months. In addition, we have secured a
world class partner that will not only manufacture finished products on our
behalf, but also assist with the import and export process. As we continue to
advance our proven Zerenia™ clinic strategy in Mexico, we look forward to
delivering our first products to patients in the coming months," comments
Alvaro Torres, CEO and Director.
Mexico represents a significant
market for the Company, as a top 15 global economy with a population of nearly
130 million. To date, close to 550 LatAm physicians have obtained their diploma
accrediting completion of Khiron's medical education program, in partnership
with Tecnologico de Monterrey, the leading university in Mexico.
High
Tide Inc.
(NASDAQ: HITI) (TSXV: HITI), a retail-focused cannabis
corporation enhanced by the manufacturing and distribution of consumption
accessories, filed its financial results for the second
fiscal quarter of 2021 ending April 30, 2021, the highlights of which are
included in this news release. The full set of Condensed Interim Consolidated
Financial Statements and Management's Discussion and Analysis can be viewed by
visiting High Tide's website at www.hightideinc.com, its profile page on SEDAR
at www.sedar.com.
Second
Quarter 2021 – Financial Highlights:
●
Revenue increased by 99% to $40.9 million
in the three months ended April 30, 2021, compared to $20.6 million in the same
quarter last year. The second quarter of 2021 financial results incorporate the
acquisition of META Growth Corp. on November 18, 2020, and Smoke Cartel, Inc.
on March 24, 2021.
●
Gross profit increased by 93% to $15.0
million in the three months ended April 30, 2021, compared to $7.8 million in
the same quarter last year.
●
Gross profit margin in the three months
ended April 30, 2021, was 37% compared to 38% in the same quarter last year.
●
Adjusted EBITDA(1) for the three months
ended April 30, 2021, was $4.7 million compared to $1.8 million for same
quarter last year.
●
Geographically in the three months ended
April 30, 2021, $35.0 million of revenue was earned in Canada, $5.7 million in
the United States and $0.2 million internationally.
●
Segment-wise in the three months ended
April 30, 2021, $38.4 million of revenue was generated by Retail, $2.5 million
by Wholesale, and an immaterial amount by Corporate.
●
Cash on hand as at April 30, 2021, totaled
$29.4 million compared to $7.5 million as at October 31, 2020.
"I am extremely proud of our
results this quarter, especially given the macro backdrop we faced. In Ontario,
the largest cannabis market in Canada, due to pandemic related restrictions,
our stores were closed for in-person shopping throughout most of the second
quarter with only click-and-collect and delivery permitted by
regulations," said Raj Grover, President and Chief Executive Officer.
"Even during this difficult market environment, we continued to advance
our bricks and mortar and online business. Despite the challenges and our
continued rapid growth, we were able to increase not only our revenue, but also
our Adjusted EBITDA sequentially to a new record of $4.7 million. This is a
clear testament to the strength of our operations and our management team's
ability to outperform in tougher markets. It also highlights the robustness of
our unique and diversified ecosystem which includes omni-channel retail of
cannabis, consumption accessories and hemp derived CBD products as well as
manufacturing and distribution of licensed and proprietary consumption
accessories. Ontario has now moved to allow in-store shopping with capacity
limits which should bolster sales, coupled with our recent acquisitions of
FABCBD and Daily High Club, we expect to deliver continued revenue and EBITDA
growth in the third quarter," added Mr. Grover.
This was followed by the company announcing the launch of two new Canna Cabana
stores located at 949 Fort William Rd. in Thunder Bay, Ontario, and 1328 Mayor
Magrath Dr. S in Lethbridge, Alberta. The new stores bring High Tide's total
branded retail locations selling recreational cannabis products and consumption
accessories across Canada to 89. In line with the Company's strategy of driving
organic growth in profitable neighbourhoods, the new stores are located off
high traffic arterial roadways and are near several popular restaurant chains
and big box stores. The new Thunder Bay store is also High Tide's first
location in northwestern Ontario's largest city with a population of over
110,000.
Tilray,
Inc. (NASDAQ: TLRY) (TSX: TLRY), a
leading global cannabis-lifestyle and consumer packaged goods company, announced that
its SweetWater Brewing Company has
launched a new product collaboration with Canada’s leading craft cannabis brand
Broken Coast Cannabis Ltd., a brand
under the Tilray portfolio based in British Columbia and geared toward the
premium cannabis market. "Broken Coast BC Lager" is the first
cross-brand product developed in partnership with leading craft brands, SweetWater
and Broken Coast, and Tilray’s first Canadian cannabis brand introduction into
the U.S. This new coastal lager is specially brewed to give a nod to one of the
most beautiful coastlines in the world. Flowing in taprooms and available to
purchase and pair with your favorite outdoor adventure, the base lager is
refreshing with added twists of key lime and orange.
SweetWater and Broken Coast brands
share the same heady D.N.A. and reputation for small-batch, high-quality craft
products and a love for the outdoors.
Broken Coast BC Lager embraces SweetWater's motto of Don't Float the Mainstream! by breaking
loose with one-of-a-kind lager: it's not your average coastal beer, inspired by
not your average coast. The premium craft coastal lager is brewed for those who
want to adventure away from the mainstream and enjoy a one-of-a-kind beer.
"With a strong aligned passion
and value system, working with Broken Coast on the inspiration for this special
brew was an exciting process for our team," said Brian Miesieski, Chief
Marketing Officer at SweetWater. "British Columbia is known for its
coastal shorelines, and with it being one of the most beautiful and adventurous
places in North America, we wanted beer drinkers to feel as if they are
transported there each time they sip on this new lager."
SweetWater and Broken Coast spent
over half a year developing the perfect lager to ensure that the product
genuinely aligned with Broken Coast's West Coast vibe and delivered a unique
and tasty new brew that craft beer drinkers seek a refreshing and easy-drinking
lager.
"Collaborating with the
SweetWater team and creating a craft beer with the same precision and passion
that I have for my craft-cannabis has been a dream come true," said Kevin
Anderson, Founder and Head Grower at Broken Coast. "I'm extremely proud of
the Broken Coast BC Lager, and developing it with Brewmaster, Mark Medlin, has
been an incredibly inspiring and a unique process. For both brands to come
together to create a first of its kind partnership and for Broken Coast to
break into the U.S. market is an exciting time for us."
The Valens Company
Inc.
(TSX: VLNS) (OTCQX: VLNCF), a leading manufacturer of
cannabis products, announced that it has entered a custom
manufacturing agreement with Gallery Brands, a premier cannabis brand house
with a carefully curated product portfolio with legacy roots. Under the
agreement, The Valens Company will manufacture both beverages and edibles for
two brands under the Gallery umbrella – Blessed and flir.
Founded
by experienced and trusted legacy market leaders, Gallery Brands aims to
provide superior quality, precisely dosed, and expertly curated cannabis
products to the Canadian market through its portfolio of brands. Each brand
under the Gallery umbrella has a uniquely defined vision inspired by its
individual founder, offering a diversified portfolio geared toward a wide range
of consumers. The Blessed brand, founded by Angelina Blessed and inspired by
her career as a professional Muay Thai fighter, offers health and wellness
focused cannabis products containing elements essential during intense athletic
recovery. The flir brand, created by chocolatier and culinary enthusiast Riley
Starr, celebrates exceptional ingredients alongside the experience of cannabis
edibles, bringing epicurean cannabis-infused products to discerning
food-forward consumers. In addition to Blessed and flir, Gallery also features
the Little Farma and Calla brands.
The
Valens Company will use its patented in-house emulsion technology SōRSE™ by
Valens to manufacture both the beverage and edible offerings for Blessed and
flir. SōRSE by Valens technology transforms cannabis oil into water-soluble
forms to infuse foods, liquids, and topicals without the taste or smell of
cannabis, resulting in some of the most innovative cannabis-infused products in
the Canadian market today. Additionally, the Company's enhanced edibles
manufacturing platform will be used to formulate and produce premium
confectionery products for the brand house. Gallery will distribute the
Valens-manufactured products in Canada using its strong retail and distribution
relationships.
Tyler
Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company,
said, "This partnership builds on our balanced portfolio of custom
manufacturing agreements with brand houses looking to offer differentiated
cannabis products to Canadian consumers across a range of categories. We are
thrilled to partner with a company that recognizes and addresses unique
customer preferences and is known in the industry for its innovative branding
and strong retail and distribution network across the country."
Robson
adds, "Through this partnership, we are not only helping bring legacy
brands to the regulated market in Canada but also meeting the ever-evolving
needs of consumers looking for new health and wellness and culinary-inspired
cannabis products in two fast-growing product categories in the market."
Trulieve Cannabis
Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing
cannabis company in the United States, today announced the completion of an asset
purchase agreement whereby Trulieve acquired a licensed adult use dispensary
location from Nature's Remedy of Massachusetts, Inc. in Worcester, MA.
Total
consideration for the transaction was $13.5 million, satisfied through the
payment of $7,000,000 in cash and the issuance of 237,881 subordinate voting
shares of the Company (the "Trulieve Shares"). Shares are based on a
volume-weighted average price of Common Shares for each trading day during the
ten (10) consecutive trading days immediately preceding the Agreement Date. The
acquired location possesses a Final Adult Use Marijuana Retailer License from
the Cannabis Control Commission, a Host Community Agreement from the City of
Worcester, and other necessary government authorizations to operate as a
marijuana dispensary at 142-148 Southbridge Street in Worcester, Massachusetts.
Kim
Rivers, Trulieve CEO stated, "We are excited to open our second
Massachusetts location in Worcester allowing us to broaden the Trulieve
platform in the state. This location will allow us to continue rolling out our
expanded portfolio of products in Massachusetts including our newly launched
Sweet Talk edibles line and Muse premium vape and concentrates line while
providing industry-leading customer service including our no-questions-asked
exchange and return policy. As we approach our first harvest, we are excited to
bring a fresh assortment of quality genetics to the market and look forward to
also offering clones for sale in our locations in the very near future."
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.
Learn
more about our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
To hear more Investorideas.com podcasts
visit: https://www.investorideas.com/Audio/
The
Investorideas.com podcasts are also available on iTunes ( Apple Podcasts)
, Audible , Spotify, Tunein, Stitcher,
Spreaker.com, iHeartRadio , Google Play
Music and most audio platforms available.
Potcasts is now a certified
word mark Trademark on the blockchain through Cognate, Inc. CM
Certification-Registration Number: 10468217708
About Investorideas.com - News that Inspires Big
Investing Ideas
Investorideas.com
publishes breaking stock news, third
party stock research , guest posts and original
articles and podcasts in leading stock sectors. Learn about investing in stocks and get investor ideas in cannabis, crypto, AI and
IoT, mining, sports biotech, water, renewable energy, gaming and more. Investor
Idea’s original branded content includes podcasts and columns : Crypto Corner , Play
by Play sports and stock news , Investor Ideas Potcasts
Cannabis News and Stocks on the Move podcast ,
Cleantech
and Climate Change , Exploring
Mining , Betting
on Gaming Stocks Podcast and the AI
Eye Podcast.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news,
articles and equity research as well as creates original content, including
video, interviews and articles. Original content created by investorideas is
protected by copyright laws other than syndication rights. Our site does not
make recommendations for purchases or sale of stocks, services or products.
Nothing on our sites should be construed as an offer or solicitation to buy or
sell products or securities. All investing involves risk and possible losses.
This site is currently compensated for news publication and distribution,
social media and marketing, content creation and more. Disclosure is posted for
each compensated news release, content published /created if required but
otherwise the news was not compensated for and was published for the sole
interest of our readers and followers. Contact management and IR of each
company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our
other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations of each country.
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Investor Ideas does not condone the use of cannabis except where
permissible by law. Our site does not possess, distribute, or sell cannabis
products.
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for
iPhone and Android
Join our Investor Club https://www.investorideas.com/membership/
Contact Investorideas.com
800 665 0411
Get more Cannabis Stock Investor Ideas – news, articles, podcasts and stock directory
Friday 25 June 2021
Thursday 24 June 2021
Wednesday 23 June 2021
Investor Ideas #Potcasts 579, #Cannabis News and #Stocks on the Move; (NEO: HALO) (OTCQX: $HCANF), (CSE: $RYAH.C), (CSE: $AUSA.C), (TSX: $WEED.TO) (NASDAQ: $CGC), (TSX: $TGOD.TO)
Investor Ideas #Potcasts
579, #Cannabis News and #Stocks on the Move; (NEO: HALO) (OTCQX: $HCANF), (CSE:
$RYAH.C), (CSE: $AUSA.C), (TSX: $WEED.TO) (NASDAQ: $CGC), (TSX: $TGOD.TO)
Delta, Kelowna, BC, June 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/2021/062321-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/News/2021/cannabis-potcasts/06231HALO-RYAH-AUSA-WEED-CGC-TGOD.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.
In
today’s podcast we look at a few public company announcements.
RYAH
Group, Inc. (CSE:RYAH) announced that it
has completed an initial shipment of its proprietary RYAH Smart Dry Herb
Inhalers for use in a pilot study to be conducted by Medicann in Jersey, the
largest of the Channel Islands, located between England and France. Medicann is
a premier cannabis-specialized clinic, providing patients with access to local
specialist doctors and pharmacists that have experience prescribing
cannabis-based medication. Medicann is launching an observational study using
RYAH Smart Dry Herb Inhalers in order to collect patient feedback on
consumption of cannabis strains available on the Island, including strains
supplied by Aurora Europe, a subsidiary of Canadian-headquartered Aurora
Cannabis Inc., a global leader in the cannabis industry serving both medical
and consumer markets and dedicated to helping people improve their lives.
In addition to the pilot program,
the parties are working toward an exclusive, definitive supply and distribution
agreement, which, if entered into, is expected to position Medicann as the sole
supplier and distributor of the RYAH Smart Dry Herb Inhalers in the region.
Jersey, Channel Islands, which is
known to have one of the highest GDP per capita in the world, is a British
dependency island ideally situated in the English Channel off the coast of
France. In 2019, the island's economy grew by 2.1% in real terms to £4.97
billion.
By 2024, the medicinal cannabis
market within the United Kingdom is predicted to be worth nearly US$1.3
billion, servicing nearly 340,000 active patients. According to a report by the
United Nations International Narcotics Control Board, the U.K. has emerged as
the largest supplier of medicinal cannabis in the world. The European cannabis
market is forecast to grow with a compound annual growth rate (CAGR) of 67.4%
to reach 3.2 billion euros ($3.75 billion) by 2025.
"We are excited to be
initiating our pilot program with Medicann in Jersey, which represents a unique,
‘ring-fenced’ environment for establishing potentially numerous studies on the
efficacy of treatments using plant-based therapies. RYAH is pleased to
contribute RYAH’s IoT devices and data platform and work with Medicann toward
perfecting prescribing practices and dosing regimens,” said Gregory Wagner, CEO
of RYAH Group, Inc.
Australis
Capital Inc. (CSE:
AUSA) (OTC:
AUSAF)
today announced that the Company going forward will
operate under the name Audacious Brands. The Company also provided a corporate
update.
The Company has decided to rename
its operations focused on the U.S. adult use market to Audacious Brands
("Audacious" or the "Company"). The Company's ticker symbol
will remain AUSA on the CSE and AUSAF on the OTC. The Company will consolidate
its brands under the new Audacious banner, as well intends to launch additional
products lines under the new name. A full and official brand launch is
anticipated in the coming months.
"Audacious as a name for our
adult use operations is a much better reflection of our corporate culture and
how we execute and operate," said Terry Booth, CEO. "Audacious stands
for doing things differently, courageously breaking with tradition, being bold,
brave and confident. As a Company, we are executing on a unique strategy that
is very difficult to emulate, while at the same time de-risking our operations.
In an increasingly fragmented market with largely converging strategies, it
takes an audacious company to stand out. This is who we are, and this is how we
operate. The new name also better reflects our motto to ignite, delight and
excite our shareholder base and the customers enjoying our products."
Audacious also reported that the
operation in Missouri, which the Company is acquiring as part of the Green
Therapeutics transaction, has received its license to operate. Once the license
transfer is complete, Audacious will own 25% of a processing and manufacturing
license.
The Missouri operations comprise an
8,000 square foot facility for extraction and manufacturing, including a
complete solventless extraction line, the current industry benchmark for
high-end quality, with an initial capacity to extract approximately 100 lbs per
day of raw material. The facility will allow for the expansion of the multiple
award-winning Tsunami brand to penetrate the Missouri market. A final
inspection was successfully completed, and the Missouri operation has received
its license to operate. Sales are anticipated to commence within the next 45
days.
Missouri is a medical market that
has been operational since October 2020. The Missouri market is anticipated to
reach $225-$300 million for 2021, and is anticipated to show continued strong
growth to $500-$625 million by 2025 (Marijuana Business Factbook 2021). To date
25 manufacturing licenses have been approved to operate. Further licensing is
currently capped.
Dr. Duke Fu, COO commented,
"Missouri is one of the hardest U.S. markets to enter, with a capped
license regime, which makes it a highly attractive jurisdiction to operate in.
Our partners are well known within the home healthcare market in Missouri,
which should greatly boost our competitive position with healthcare
professionals. We are in talks with several dispensaries for product
placements, as well as are in talks with highly regarded out-of-state brands
that are looking at us for white labelling to enter this attractive market. We
are excited that we can now commence our operations and look forward to serving
the medical market in Missouri with consistent, high-quality product."
The Company has also completed the
acquisition of a 23-acre plot of land, which Audacious intends to become a hub
for multiple operators covering the industry value chain from cultivation to
extraction and manufacturing. In addition, the Company has acquired the last
remaining water rights in this area, providing a substantial advantage in
securing partners for development of this envisaged project.
Mr. Booth, commented, "The
Sandy Valley land has great potential for us to develop our multi-operator
cannabis hub. In line with our capital light expansion strategy, we intend for
ALPS to assist third party operators, be they cultivators, processors or
manufacturers, in building their facilities, in exchange for a percentage of
capacity to grow our own cultivars and manufacture our products. While through
Green Therapeutics we already are a leading operator in the state, growth has
been limited through lack of high-quality cannabis. This initiative, in addition
to our other moves in the state, as announced recently, will change that. We
are already in talks with a number of highly interested parties to realize our
vision, on which we will report more in the coming months."
Halo
Collective Inc. (NEO:
HALO) (OTCQX:
HCANF), a vertically integrated multinational cannabis
company, announced that
its board of directors has unanimously approved the reorganization of its
non-U.S. operations, Bophelo Bioscience & Wellness Pty. Ltd. and Canmart
Ltd., into a newly formed Alberta corporation called Akanda Corp. Akanda will
be led by accomplished cannabis and corporate finance and banking industry executive
Tej Virk.
Akanda will combine the scaled
production capabilities of Bophelo, Halo's Lesotho-based cultivation and
processing campus, located in the world's first Special Economic Zone (SEZ)
containing a cannabis growth operation, with distribution and route-to-market
through Canmart, Halo's UK-based fully approved pharmaceutical importer and
distributor which supplies pharmacies and clinics within the UK. With a
potential maximum licensed canopy area of 200 hectares, Bophelo has scalability
that is arguably unmatched in the world today.
"The separation of Halo's U.S.
and international businesses through the formation of Akanda is the right
initial step to capitalize on the significant growth opportunities in global
cannabis markets and to unlock significant unrealized value for all of Halo's
stakeholders," said Kiran Sidhu, CEO and Co-Founder of Halo. "Akanda,
with a unique strategy and scaled assets, will be positioned to be the low cost
supplier of high quality and ethically sourced medical cannabis products to the
fast-growing African, UK, European, and other international markets. I am
excited to support Tej and Louisa as they build Akanda into a world-class
company, leveraging Halo's trusted cannabis brands, technology, and
know-how."
Tej Virk will join Akanda as CEO
from Khiron Life Sciences, where he
was President and Managing Director, Europe, establishing Khiron's medical and
consumer packaged goods business in the region. Prior to his time at Khiron,
Virk was Managing Director, Europe, for Canopy
Growth Corporation, where he was responsible for driving the multinational
expansion of Canopy's European operations. Working with top research doctors in
the UK, Spain, and Germany, he has overseen the launch of multiple medical
cannabis products in Europe, including flower for inhalation and oils. Virk has
extensive cannabis sector M&A experience and has transacted on numerous
IPOs and follow-on capital raises for global cannabis companies, including
Canopy and Tilray. At the beginning
of his career, Virk spent 15 years in investment banking and capital markets at
BMO Financial Group.
"Akanda has the potential to be
a truly great international medical cannabis company, cultivating high quality
and ethically sourced cannabis at scale, leveraging trusted brands, at the
industry's lowest cost. It is a special honor to be joining Akanda as its first
CEO and I do so with an equal sense of excitement and responsibility,"
said Tej Virk, CEO and Director of Akanda.
The Green Organic
Dutchman Holdings Ltd. (TSX:
TGOD) (OTC:
TGODF), a leading producer of premium certified organically
grown cannabis, announced that
its wholly owned Quebec subsidiary Medican Organic Inc. has completed the
previously announced sale of the majority of its assets in Valleyfield, Quebec,
including all industrial and agricultural land, main hybrid greenhouse, rooftop
greenhouse, all support buildings and certain related equipment, to Cannara Biotech Inc. for the $27 million
purchase price contemplated in the purchase and sale agreement relating to the
Transaction. In addition, Medican
received a $5.7 million deposit refund from Hydro-Quebec.
Concurrent
with the closing of the Transaction, TGOD repaid approximately $31.8 million to
its senior lender to settle all of its outstanding obligations and terminated
the loan agreement with such lender.
As
also agreed to with the Purchaser, Medican entered into a lease with the
Purchaser concurrent with the closing of the Transaction, for approximately
80,000 square feet of cultivation and processing space in the Quebec Facility.
BMO
Capital Markets acted as exclusive representative and financial advisor to the
Company in connection with the Transaction, and Langlois Lawyers LLP acted as
TGOD's legal counsel.
Canopy
Growth Corporation (TSX:
WEED) (NASDAQ:
CGC)
and The Supreme Cannabis Company, Inc.
(TSX:
FIRE) (OTCQX:
SPRWF) announced the
completion of the previously announced arrangement whereby Canopy has acquired
all of the issued and outstanding common shares of Supreme.
As Canopy continues to focus on the
premium flower segment, the addition of 7ACRES and the 7ACRES Craft Collective
enhances Canopy's leading market share position and supplements its production
capacity through the acquisition of Supreme's low-cost, scalable cultivation
facility in Kincardine, Ontario. This facility has a proven capability for
producing high-quality flower from sought-after strains that have earned
Supreme's brands their loyal consumer followings. Additionally, the acquisition
of Supreme further strengthens Canopy's overall leadership position within the
Canadian recreational market and creates a pro forma Q4 FY 2021 market share of
18.1%1. Furthermore, the acquisition creates the opportunity for immediate
value creation with an estimated $30 million in synergies to be captured within
the next two years.
"Through the addition of
Supreme, we're strengthening our leadership position by offering Canadian
consumers a differentiated brand portfolio – including the addition of 7ACRES,
which further bolsters our premium product segment," said David Klein,
Chief Executive Officer of Canopy. "Supreme has demonstrated the ability
to cultivate premium quality flower at low cost and we're excited to leverage
these capabilities to further our leadership in the Canadian market as we scale
these newly added brands and accelerate revenue growth."
"We believe the acquisition of
Supreme by Canopy represents the best path forward for Supreme's shareholders
to generate long-term value," said Beena Goldenberg, Chief Executive
Officer of Supreme. "We are proud to have built an attractive company with
high-quality, sought-after premium products and brands. We feel joining with
Canopy – a leader in the Canadian recreational market – is aligned with our
ultimate goal of becoming a premier cannabis CPG company."
As a result of the Arrangement,
Supreme has become a wholly-owned subsidiary of Canopy and the Supreme Shares
are anticipated to be de-listed from the Toronto Stock Exchange on or about
June 23, 2021.
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.
Learn more about
our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
Investors can trade
these stocks and other ideas on our site using our list of top stock trading apps including Robinhood , Acorn,
Stash and others.
To hear more
Investorideas.com podcasts visit: https://www.investorideas.com/Audio/.
The Investorideas.com podcasts are also available on
iTunes ( Apple Podcasts) , Audible ,
Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio , Google Play Music and most audio platforms
available.
Potcasts is now
a certified word mark Trademark on the blockchain through Cognate, Inc. CM
Certification-Registration Number: 10468217708
About
Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com publishes breaking
stock news, third party stock research ,
guest posts and original articles and
podcasts in leading stock sectors. Learn
about investing in stocks and get investor
ideas in cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable
energy, gaming and more. Investor Idea’s original branded content includes
podcasts and columns : Crypto Corner , Play
by Play sports and stock news , Investor Ideas
Potcasts Cannabis News and Stocks on the Move podcast ,
Cleantech
and Climate Change , Exploring
Mining , Betting
on Gaming Stocks Podcast and the AI
Eye Podcast.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and
equity research as well as creates original content, including video,
interviews and articles. Original content created by investorideas is protected
by copyright laws other than syndication rights. Our site does not make
recommendations for purchases or sale of stocks, services or products. Nothing
on our sites should be construed as an offer or solicitation to buy or sell
products or securities. All investing involves risk and possible losses. This
site is currently compensated for news publication and distribution, social
media and marketing, content creation and more. Disclosure is posted for each
compensated news release, content published /created if required but otherwise
the news was not compensated for and was published for the sole interest of our
readers and followers. Contact management and IR of each company directly
regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other
news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations
of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Investor Ideas does not condone the use of
cannabis except where permissible by law. Our site does not possess,
distribute, or sell cannabis products.
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile
App for iPhone and Android
Join our Investor Club https://www.investorideas.com/membership/
Contact
Investorideas.com
800 665 0411
Get more Cannabis Stock Investor Ideas – news, articles, podcasts and stock directory
What's up with Cannabis Stocks?
What's up with Cannabis Stocks? : What's up with Cannabis Stocks?
-
New #Cannabis Stocks Added to Investor Ideas; (TSX: $FAF.V) (CSE: $STIL.C) (CSE: $ORCD.C) (CSE: $VREO.C) (CSE: $PUMP.C) (OTC: $NUGL) ...
-
Investor Ideas #Potcasts #Cannabis News and Stocks on the Move: Dixie Brands (CSE: $DIXI_U.C) (OTC: $DXBRF), Khiron Life Sciences (T...
-
Investorideas.com - CBD Stock News: InnoCan Pharma (CSE: INNO) Announces the Successful Completion of an Independent Clinical Study Demonstr...