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.
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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 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."
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