Investor Ideas #Potcasts
586, #Cannabis News and #Stocks on the Move;
(NASDAQ: $OGI) (TSX: $OGI.TO), (CSE: $CURA.C) (OTCQX: $CURLF) (CSE: $PULL.C)
(OTC: $PRXTF)
Delta, Kelowna, BC, July 13, 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/2021/071321-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/07131OGI-CURA-PULL-PRXTF.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 private and public company announcements.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), a
leading licensed producer of cannabis, announced its
results for the third quarter ended May 31, 2021 ("Q3 2021").
"We are pleased
with the growth in revenue in Q3 as we were better staffed to fulfill the
demand for our revitalized product portfolio, which continues to resonate well with
consumers," said Paolo De Luca, Chief Strategy Officer. "The ongoing
investment in our genetics and cultivation program has yielded some exciting
new dried flower products with more genetics and derivative product launches
planned for the near term. Sales are trending higher to date in Q4 supported by
a strong outlook for the industry as the number of cannabis retail stores
continues to grow and existing stores are permitted to re-open their doors to
customers."
|
Select Key Financial Metrics (in $000s unless otherwise
indicated) |
Q3 2021 |
Q3 2020 |
% Change |
|||
|
Gross revenue |
29,105 |
|
22,241 |
|
31 |
% |
|
Excise taxes |
(8,781 |
) |
(4,220 |
) |
108 |
% |
|
Net revenue |
20,324 |
|
18,021 |
|
13 |
% |
|
Cost of sales |
23,381 |
|
44,375 |
|
-47 |
% |
|
Gross margin before fair value changes to biological assets
& inventories sold |
(3,057 |
) |
(26,354 |
) |
88 |
% |
|
Fair value changes to biological assets & inventories sold |
5,176 |
|
(23,862 |
) |
122 |
% |
|
Gross margin |
2,119 |
|
(50,216 |
) |
104 |
% |
|
Adjusted gross margin* |
(722 |
) |
4,114 |
|
-118 |
% |
|
Adjusted gross margin %* |
-4 |
% |
23 |
% |
-27 |
% |
|
Selling (including marketing), general & administrative
expenses** |
13,559 |
|
10,258 |
|
32 |
% |
|
Adjusted EBITDA* |
(10,182 |
) |
(2,138 |
) |
-376 |
% |
|
Net loss |
(4,008 |
) |
(89,871 |
) |
96 |
% |
|
Net cash provided by (used in) operating activities |
(10,754 |
) |
313 |
|
-3536 |
% |
* Adjusted gross margin, adjusted gross margin % and adjusted
EBITDA are non-IFRS financial measures not defined by and do not have any
standardized meaning under IFRS; please refer to the Company’s Q3 2021 MD&A
for definitions and a reconciliation to IFRS.
** Excluding non-cash share-based compensation.
|
Select Balance Sheet Metrics (in $000s) |
2021-05-31 |
2020-08-31 |
% Change |
|
|
Cash & short-term investments |
196,446 |
74,728 |
163 |
% |
|
Biological assets & inventories |
46,638 |
71,759 |
-35 |
% |
|
Other current assets |
22,060 |
23,717 |
-7 |
% |
|
Accounts payable & accrued liabilities |
19,276 |
17,486 |
10 |
% |
|
Current portion of long-term debt |
80 |
11,595 |
-99 |
% |
|
Working capital |
245,788 |
141,123 |
74 |
% |
|
Property, plant & equipment |
247,698 |
247,420 |
0 |
% |
|
Long-term debt |
247 |
103,671 |
-100 |
% |
|
Total assets |
576,715 |
435,127 |
33 |
% |
|
Total liabilities |
73,536 |
135,600 |
-46 |
% |
|
Shareholders’ equity |
503,179 |
299,527 |
68 |
% |
"On
the expense front, we are encouraged by the progress we have made in reducing
cultivation costs and capturing economies of scale as we ramp up
cultivation," said Derrick West, Chief Financial Officer. "In
combination with commercial strategic initiatives, we have also identified a
number of additional cost efficiency opportunities focused on enhancing our
gross margin profile. We anticipate starting to see the benefits from these
cost reductions during Q4 Fiscal 2021."
According
to Reuters ,”The healthcare sector added 3.8%, on
track for its best session in more than a month, as shares in OrganiGram surged
17% after the pot producer reported a jump in quarterly net revenue.”
B
Noble Inc. and Curaleaf Holdings, Inc.
(CSE: CURA) (OTCQX: CURLF), a leading international
provider of consumer products in cannabis, today announced the launch of the B Noble
brand in Massachusetts and Maryland, with a national rollout continuing into
Fall 2021.
B
Noble was founded by well-known visual artist, filmmaker and hip-hop pioneer,
Fab 5 Freddy, to raise awareness and create funding to defend people from
cannabis-related criminalization. The brand is dedicated to telling the story
of namesake Bernard Noble, who was arrested in Louisiana and sentenced to 13
years hard labor in prison for possessing the equivalent of two joints. In
2017, Bernard's case began to draw attention across the country, and he quickly
became a national symbol for the need to reform the country's unjust drug laws,
sparking advocacy and a movement to free him. As a result, Bernard was released
seven years into his sentence.
To
call attention to Bernard's harsh sentence, the B Noble brand will partner with
Curaleaf today, on 7/13 (a date representing the 7 years of a 13-year sentence
that Bernard served), to release two-packs of high-quality one-gram pre-rolls,
symbolizing the two grams of cannabis for which Bernard was arrested.
"Making
the film 'Grass is Greener' for Netflix, I got an in-depth education about the
history and truth around cannabis," said Fab 5 Freddy. "And the many
lies told that led to this vital plant's criminalization and the thousands of
lives damaged, like Bernard Noble's, which became a call to action for
me."
"My
life re-started when I walked out of prison with the cameras rolling on me, and
I met Fab. I'm excited to now be working with Curaleaf in helping to educate,
inform and bring a high-quality product to the people," said Bernard
Noble.
Ten
percent of proceeds from the sale of each B Noble product will be donated to a
local organization dedicated to advancing social equity and providing
opportunities to those directly impacted by the War on Drugs. Massachusetts
products will benefit MASS CultivatED, an organization that supports cannabis
reform and helps provide pathways toward a successful post-incarceration
future. In Maryland, proceeds will go toward Changing Perceptions, an
organization working with previously incarcerated individuals seeking to
re-enter the workforce. These carefully selected organizations are supporting
those who were incarcerated for non-violent cannabis-related charges and
working to remove the residual societal barriers associated with a
cannabis-related conviction, setting up newly liberated citizens for a
successful transition home and for future opportunity.
"We
are incredibly proud to bring this brand and product to market with Bernard Noble
and Fab 5 Freddy. Bernard's life epitomizes the countless individuals who share
his story, and this partnership serves as a reminder of the change and
opportunity that can happen when people work together," said Curaleaf
Chief Executive Officer Joe Bayern. "We at Curaleaf are thrilled to use
our national platform to advance social equity in cannabis, and support a brand
with such tangible purpose."
This
partnership with B Noble is Curaleaf's first large-scale brand venture in
alignment with its dedicated social equity work, as a part of its Rooted in
Good corporate social responsibility program. Led by Vice President of
Corporate Social Responsibility Khadijah Tribble, Rooted in Good delivers
social impact by focusing efforts within three key pillars: Diversity, Equity,
and Inclusion; Social Equity; and Sustainability, ultimately achieving key
goals through the Company's strategic social partnerships.
B
Noble Pre-Rolls can be found in Massachusetts and Maryland Curaleaf retail
locations and at key wholesale partner stores, with additional states to come.
To learn more about B Noble, please visit: www.curaleaf.com/BNOBLE.
Pure Extracts
Technologies Corp. (CSE: PULL) (OTC: PRXTF), a plant-based extraction company
focused on cannabis, hemp, functional mushrooms and the rapidly emerging
psychedelic sector, announced that its wholly-owned subsidiary,
Pure Mushrooms Corp., has submitted a licence application to Health Canada’s
Natural and Non-Prescription Health Products Directorate for a blended
functional mushroom wellness product.
This
application for a blend of cordyceps, reishi and lion’s mane follows-up on the
Company’s successful launch on its Amazon online e-Commerce store of sales of
its reishi and maitake formulations. These 2 products are appealing to both men
and women with 57% of purchases coming from men and 43% from women with the
most sales occurring in California followed by Florida, then Georgia.
The
new blended formula provides antioxidants that help protect cells against the
oxidative damage caused by free radicals. It is also used in Herbal Medicine as
a liver tonic, to support the immune system and as an adaptogen to help
increase energy and resistance to stress. Product launch is expected to occur
in Q4 2021.
Pure
Extracts’ CEO, Ben Nikolaevsky, remarked, “We are excited to be creating our
next Pure Mushrooms’ products for our direct-to-consumer, online store. The
functional mushroom wellness market is experiencing robust sales as many
consumers are trying to boost their immune systems in light of the COVID-19
pandemic. As we build-out our mushroom extraction facility, we plan to bring
more products to market.”
CannSell, the
sole mandated cannabis retail training platform in the Province of Ontario, announced the initial results of its recent
product knowledge expansion partnership with PAX Labs™, a San Francisco, California-based leader in premium
cannabis vaporizer technology.
In
an effort to provide thorough vape category leadership and education to
cannabis retailers, PAX has created the PAX Certified education program (“the
Program”), now available to budtenders, retailers, clinics, partners and
licensed producers across Canada. In addition, CannSell and PAX are pleased to
offer authorized budtenders the opportunity to access PAX Certified through the
CannSell platform, with the goal of enhancing their product knowledge and
furthering the authority, confidence and knowledge base of participants in
advising on cannabis vapour tech and products.
Through
this ongoing partnership and the PAX Certified program, CannSell and PAX Labs
will continue to pursue the goal of increased product and vape category
knowledge and leadership throughout the industry.
At
the time of this writing, the PAX Certified Program has over 1400 graduates,
with over 400 participants in the process of completing their certifications.
Since the partnership between PAX Certified and CannSell began, the number of
PAX Certified users enrolled in the Program has increased by more than 50%, and
continues to grow along with the number of new graduates and participating retailers,
clinics and other partners.
“Considering
the pace of the cannabis industry and the high volume of new products being
introduced to the category, education plays an unsurprisingly vital role. The
PAX Certified program is being well received, highlighting the importance of
category specific education — in this case, vaporization. Partnering with
CannSell continues to help us reach the budtenders that inform and connect
directly with our customers each and every day,” stated Shawn King, Head of Marketing
for PAX Canada & International.
“CannSell’s
partnership with PAX is a great example of how high quality educational content
can inform budtenders as the front-line gatekeepers of cannabis and cannabis
accessory retail. CannSell is emerging as the definitive resource for leading
industry brands to showcase their products in an engaging and educational way,
keeping them top-of-mind with retail staff in their consumer interactions. The
engagement that PAX has seen so far as a result of the partnership is testament
to the effectiveness of CannSell as a product knowledge training platform,”
stated Andy Deonarine, Director, CannSell.
In
recent news, Atlas Growers Ltd. is recalling some dried cannabis pre-rolls sold
in retailers in Alberta, Northwest Territories, and Yukon.
Three
lots of its Zour Apples Full Flower dried cannabis pre-rolls were flagged by
Health Canada after hazards of yeast, mould, and bacteria were identified.
The
affected lots include P200027, P200044, and P210008, and were sold between Dec.
1, 2020 and July 7, 2021.
According
to Health Canada, certain individuals who use the affected dried cannabis
pre-rolls may experience allergic symptoms such as sneezing, coughing, itchy or
watery eyes, wheezing, and runny nose or nasal congestion.
As
of July 8, no serious reactions were reported from the recalled lots, Health
Canada said.
Approximately
11,304 units of product are affected by the recall and were sold at licensed
retailers in the two territories and Alberta and to patients at Medical
Cannabis by Shoppers Drug Mart. No specifics were given on which locations sold
the affected products.
Consumers
are being asked by Health Canada to return the product to the retailer where it
was purchased or dispose of it.
Lastly,
in a recent article from Global News, The United States Anti-Doping
Agency (USADA) has been reported saying it wants more flexible rules for
athletes who test positive for cannabis
after the White House was reported to be seeking a meeting with the World
Anti-Doping Agency (WADA)
to discuss easing restrictions.
The
debate over cannabis use by athletes was reignited after American sprinter
Sha’Carri Richardson tested positive for the drug last month at the U.S.
Olympic Track & Field trials.
The
21-year-old, who was seen as the top contender for the 100 meters gold at the
July 23-Aug. 8 Tokyo Games,
got a one-month ban, making her ineligible for the U.S. team.
Richardson
said in an NBC Interview that her action came while she was dealing with the
news of the death of her mother.
The
suspension sparked an outpouring of sympathy, including from President Joe
Biden, and calls for a review of anti-doping rules from the White House
according to the Financial Times.
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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