Investor Ideas #Potcasts
583, #Cannabis News and #Stocks on the Move; (OTC: $ROSN), (TSXV: $NUMI.V),
(TSXV: $HITI.V) (NASDAQ: $HITI) (CSE: $HBOR.C)
Delta, Kelowna, BC, July 6, 2021 (Investorideas.com Newswire) www.Investoride, as.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/2021/070621-StocksToWatch.mp3
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at https://www.investorideas.com/news/2021/cannabis-potcasts/07061ROSN-NUMI-HITI-HBOR.asp
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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.
Harborside
Inc.
(CSE:
HBOR), (OTCQX:
HBORF) a California-focused, vertically integrated cannabis
enterprise,
announced the completion of its previously announced
acquisition of Sublimation Inc. ("Sublime"), an award-winning
cannabis manufacturing company located in Oakland, CA, for a total
consideration of US$43.8 million.
"We are thrilled to complete this
Acquisition and add Sublime's talent and its iconic, award-winning California
brand, with an exceptional product offering and consumer following, to our
growing brand portfolio," said Peter Bilodeau, Interim CEO of Harborside.
"With a strong balance sheet and deep cultivation and brand building
expertise, our unified company is well-positioned to support the continued
growth of the Sublime brands while expanding the reach of Harborside's existing
branded product portfolio in both the retail and wholesale markets."
Ahmer Iqbal, CEO of Sublime, added,
"We are thrilled to officially join forces with Harborside
and create a leading California house of
brands. Together, we can leverage our vast production and retail capabilities
to further expand the distribution of our suite of branded products. On behalf
of my team, we look forward to commencing the integration process and working
together to scale Harborside's reach."
Founded in 2016, Sublime is best known for
its expansive line of high-potency, high-quality and affordable, Fuzzies
branded pre-rolls, a leading brand of pre-rolls in the state of California, as
well as vapes and roll-your-own flower kits. Since 2019, Sublime has delivered
a revenue CAGR of approximately 70%, and ended 2020 with 7.9% California
pre-roll market share.(4) Sublime is strategically positioned for continued
growth as pre-rolls are the fastest growing cannabis sub-segment within the
California market since the beginning of 2020.(4)
Harborside expects to realize significant
synergies by bringing together Sublime's brands, production capabilities and
robust distribution system with the high-quality cannabis grown at the
Company's Salinas, California cultivation facility which is anticipated to
result in additional gross profit and EBITDA by extending the reach of Sublime,
Harborside and Key branded products throughout the state of
California.(1)(2)(3) Harborside also expects to bolster Sublime's marketing
capabilities, which is expected to drive higher retail margins for the Company
as an owned brand within its portfolio.(2)(3) Finally, Harborside will seek to
license the Fuzzies California lifestyle brand in additional legal recreational
markets across the country, particularly those that do not currently have high
potency infused products.
High
Tide Inc.
(TSXV:
HITI) (NASDAQ:
HITI), a retail-focused cannabis corporation enhanced by
the manufacturing and distribution of consumption accessories, announced that it
has completed the acquisition of DHC Supply LLC operating as Daily High Club.
The Acquisition was completed pursuant to
the terms of the merger agreement previously announced by the Company on June
25, 2021, pursuant to which High Tide USA Inc., a Nevada corporation and a
wholly-owned U.S. subsidiary of the Company ("Subco"), has acquired 100% of the issued and outstanding
shares of Daily High Club.
Pursuant to the terms of the acquisition,
the total consideration to Daily High Club shareholders for all the issued and
outstanding securities of Daily High Club is: (i) 839,820 common shares of High
Tide valued at US$6.75 Million on the basis of a deemed price per High Tide
Share of CAD$9.92, being equal to the volume weighted average price per High
Tide Share on the TSX Venture Exchange for the 10 consecutive trading days
preceding the closing of the Transaction; and (ii) US$3.25 million in cash.
In connection with the Closing, Harrison
Baum, Chief Executive Officer of Daily High Club, has joined the High Tide team
as Director of Digital Marketing to oversee all social media initiatives for
High Tide globally.
The High Tide Shares issued pursuant to the
Share Consideration are subject to a statutory hold period of four months and
one day. In addition, the High Tide Shares having a value of 25% of the
Consideration will be held in escrow to insure certain indemnification
obligations if claims arise.
Furthermore, High Tide granted 13,333 stock
options to Harrison Baum, exercisable at CAD$9.39 per High Tide Share for a
period of three years.
Numinus
Wellness Inc. (TSXV:
NUMI), a mental health care company advancing innovative
treatments and safe, evidence-based psychedelic-assisted therapies,
announced that the Company has agreed to acquire the Neurology
Centre of Toronto ("NCT") pursuant to a purchase agreement dated July
2, 2021. Numinus and NCT founder Dr. Evan Lewis plan to expand NCT into a
comprehensive clinical neurology treatment centre with a unique specialization
in the application of psychedelics in the field of neurology.
Numinus will pay $300,000 in cash and
$200,000 in Numinus shares upon closing and future performance-based payments
totaling up to $500,000 in Numinus shares to complete the transaction. The
transaction is subject to a number of conditions, including the approval of the
TSX Venture Exchange. As of the date hereof, Numinus and NCT management have
completed their due diligence. The Company anticipates that the acquisition of
NCT will be completed by the end of August 2021.
Transaction
Highlights:
●
Numinus to acquire a fully operational
neurology centre with 13 doctors, 8 allied health staff, nurse practitioners
and physician assistants. Gross revenues for the centre grew more than 25% to
approximately $1 million for the year ended December 31, 2020, while net
revenue grew 25% to $454,000 for the same period.
●
NCT offers experience managing patients
with common neurological conditions and associated chronic psychological
disorders for whom there is potential to benefit from psychedelic-assisted
psychotherapy.
●
NCT's expertise in clinical neurology and
associated mental health disorders will be integrated with Numinus' leadership
in psychedelic-assisted psychotherapy to establish the field of psychedelic neurology, to develop
strategies and treatments for those with select neurological and concurrent
disorders.
●
NCT and Numinus plan to establish the first
centre for excellence in psychedelic neurology, comprising highly specialized
neurology experts with an understanding of how psychedelics can safely and
positively impact patients with neurologic illnesses and associated mental
health challenges.
●
Numinus to leverage and grow NCT's
information technology-based virtual rapid access care model to streamline and
scale pathways for patients to access psychedelic-assisted psychotherapies.
●
Dr. Lewis, recognized for advancing the use
of medical cannabis to treat complex neurologic disorders, will join Numinus as
VP, Psychedelic Neurology Services upon completion of the acquisition.
"Our collaboration with Numinus
represents an important evolution in patient care for individuals suffering
from common neurological illnesses and challenges that are often associated
with chronic mental health conditions," said Dr. Lewis, a neurologist and
clinical neurophysiologist who founded NCT in 2017. "While today's
treatments help many patients, a significant number continue to suffer and, we
believe, may be helped by psychedelic-assisted psychotherapy."
Currently, therapies for common
neurological disorders such as concussion, migraine and cluster headache,
neuropathic pain syndromes and chronic epilepsy have limitations, especially
when these disorders are associated with chronic psychological challenges. The
need to develop novel therapies that address both medical and psychological components
of neurological diseases may be substantial and the potential impact could be
significant.
Numinus and NCT are coming together to
explore and develop applications of psychedelic-assisted therapies to reduce
patient suffering and enable greater opportunities for healing. Current
research shows that psychedelic medications such as psilocybin and MDMA open
new pathways in the brain that, in conjunction with professional therapy, can
treat a host of mental health disorders.
"This acquisition represents an
exciting opportunity for NCT and Numinus to combine medical, clinical and
academic expertise to help create a new discipline and ultimately a centre for
excellence in psychedelic neurology," said Dr. Evan Wood, Chief Medical
Officer, Numinus. "In doing so, this collaborative discipline could
potentially make a transformative difference for many patients."
In addition, NCT has developed a virtual
rapid access model for patient intake and evaluation that is efficient,
team-based and readily modifiable to support specialized programs across
various disciplines. The rapid access model is cost-effective, supports and
streamlines patient care, reduces wait lists, addresses some barriers to care,
and has scale potential. NCT and Numinus will explore how this innovative model
can support the development and delivery of efficient, patient-centered
psychedelic-assisted psychotherapy.
"I continue to be humbled by the
quality of people joining Numinus and acting with us on our ambition to help
people heal and be well," said Payton Nyquvest, Numinus CEO and Chair.
"The acquisition of NCT reflects our
thoughtful expansion strategy to add clinics that offer revenue-generating
services, accretive assets and innovative leadership that maintains our
position at the forefront of client care and psychedelic-assisted
therapy."
All of NCT's staff - including medical
doctors, nurses, physician assistants, occupational therapists,
psychotherapists, physiotherapists, nutritionists and administrative staff -
are expected to remain with Numinus post transaction closing.
ROSINBOMB (OTC:ROSN) and
ARDENT industry leading developers and manufacturers of highly acclaimed
groundbreaking solventless extraction and infusion technology products
announced today the launch of two exclusive limited edition solution bundles in
time for 710. The Press n’ Fuse™
bundles are designed to provide the consumer, prosumer and processor an end to
end elegant and simple solution for crafting high quality solventless extracts
and infused consumables in various formats.
The Rosinbomb™ Rocket is widely acclaimed
as the best personal, solventless rosin press in the world, together with the
heralded Ardent Nova™ bundle ensures the consumer is well equipped to craft
high quality products like the experts. The
Press n’ Fuse™ product bundle is made for consumers to easily and cost
effectively craft, create and enjoy.
The Rosinbomb M-60 with Flow Channel
Technology™ the world’s first and only volume processing extraction press is
teamed up with revolutionary Ardent FX Decarboxylator to create The Press n’
Fuse Pro™ and is targeted towards the prosumer/ processor market proving the
user with limitless options for crafting any and all forms and quantities of
extracts and infused products.
Rosinbomb’s CEO, Fred Angelopoulos said,
“We are super excited to team up with Ardent to provide this end-to-end
solution to the market for 710. I believe our two companies share the same
product culture, one which represents best of breed design and performance,
innovation, industry leading quality all within a clean and organic
environment.”
“We believe strongly in empowering and
enabling the consumer to take pride and ownership of what they are crafting and
consuming and these Press n’ Fuse™ bundles are a big step in that direction”
added Rosinbomb Founder and President Ryan Mayer.
Ardent founder and CEO Shanel Lindsay
discussed the roots of the Company when describing the collaboration, “Ardent
was founded on the principles of education and empowering people to take charge
of their own wellness and do it in a safe and holistic way. We believe
Rosinbomb shares that philosophy, and this collaboration embodies that”
The collaborations are available at https://www.rosinbomb.com/pages/rosinbombardentbundle. The pricing for the two kits is $749 for the Press n’
Fuse (list price individually $899) and $1449 for the Press n Fuse Pro (list
price individually $2235) and are available for a limited time while supplies
last.
710 represents the date of July 10th which
is considered to be the industry celebration for the oils and extracts
marketplace.
ROSINBOMB continues to be celebrated by
experts and leading media outlets. Forbes.com called the Rocket ‘Revolutionary Technology That
Creates Perfect THC/CBD Rosin Every time’ and Tech expert website Engadget named the Rocket ‘The Panini Press Of Weed.’
To view the complete line of Rosinbomb
presses and accessories please visit http://www.rosinbomb.com.
Lastly today, in an
unprecedented move, Health
Canada is proposing a full federal ban on vaping flavours. The ban would take effect in about 180 days, so likely January
1, 2022.
"Health Canada is
pushing smokers back to smoking cigarettes and into the arms of 'Big
Tobacco'," says Shai Bekman, president of DashVapes Inc., Canada's largest
independently owned e-cigarette company that produces e-cigarettes, an
alternative to smoking.
In a homage to Saturday Night
Live's (SNL) "cold open," DashVapes has produced a short skit, titled
"The First Vaping-Cessation Device.
"This is not me
editorializing or being sarcastic, this is what the report commissioned by
Health Canada says. The report freely admits that Canadians are likely to
resume smoking cigarettes if vaping flavours are banned," adds Mr. Bekman.
According to a "Regulatory
Analysis Impact Statement," pertaining to the Order Amending
Schedules 2 and 3 to the Tobacco
and Vaping Products Act (Flavours), published in The Canada
Gazette, Ottawa, Saturday, June 19, 2021, states:
"About 46% of current
vapers (past-30-day use) aged 20 years and older are dual users (i.e.
individuals who vape and smoke cigarettes). The total profit loss to the vaping
industry that also manufactures tobacco products may be mitigated by the substitution
of tobacco purchases from dual users
who would go back to smoking and adults who smoke who would continue to smoke
instead of switching to tobacco- or mint/menthol-flavoured vaping products.
After the proposal comes into
force, it is anticipated that some dual users who currently use flavoured
vaping products would not substitute their purchases with tobacco and
mint/menthol-flavoured vaping products. They would choose to purchase more
cigarettes, hence offsetting the loss of sales of tobacco- and mint/menthol
flavoured vaping products."
Page 140 of the report
[emphasis added].
"How would banning
vaping flavours help Canadians who are trying to quit smoking?" says Mr.
Bekman, a reformed smoker of a 2-packs-per-day habit for 13 years. While he
wanted to quit smoking, nothing worked for him until he tried vaping.
"That's like telling
recovering alcoholics that they cannot drink iced tea with lemon. Instead, they
must drink alcohol-free beer. Does that make sense to anyone?" says Mr.
Bekman.
The Health Canada report
makes no mention of the fact that there are hundreds of flavour additives in
regular cigarettes. According to the American Food and Drug Administration
(FDA), There are more than 7,000 chemicals in cigarette smoke. More than 70 of those chemicals are
linked to cancer.
"Yes, there is nicotine
in e-liquid used to vape, but the whole point of vaping is to reduce your
harm," says Mr. Bekman.
"To be clear, DashVapes
supports capping nicotine at 20mg per milliliter. DashVapes also supports a ban
on advertising to those 19 and younger," he says.
At the same time, Mr. Bekman
is pushing for answers to the "Youth Vaping Crisis" in August 2019 to
early 2020. "Did Health Canada and the government of Canada conduct a
criminal investigation into the Youth Vaping Crisis?" he asks.
In a news release distributed on CNW on
June 23, 2021, he asked the Hon. Patty Hajdu, the Federal Minster
of Health, Iain Stewart, president of Public
Health Agency of Canada (PHAC), as well as
all provincial health ministers across Canada, asking about the status of the
criminal investigation into Canada's "Youth Vaping Crisis" in late
summer 2019 to early 2020.
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