Investor Ideas #Potcasts 591, #Cannabis News and #Stocks on the Move; (CSE: $GTII.C) (OTCQX: $GTBIF), (CSE: $EASY.C), (TSX: $VLNS.TO) (OTCQX: $VLNCF), (NASDAQ: $CGC) (TSX: $WEED.TO)
Delta, Kelowna, BC, August 2, 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/2021/080221-StocksToWatch.mp3
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at https://www.investorideas.com/news/2021/cannabis-potcasts/08021GTII-EASY-VLNS-CGC-WEED.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 company announcements.
After three years of a successful
joint venture, Houseplant and Canopy Growth Corporation (NASDAQ:CGC) (TSX:
WEED) have
mutually agreed to end their relationship. The Canadian
cannabis market has evolved substantially during this period, and the parties
believe the time is right for the Houseplant brand to develop independently
while Canopy advances its focus on wholly-owned brands for the Canadian market.
The relationship between Houseplant
and Canopy started in 2018, well ahead of Canadian legalization. Since that
time, Houseplant and Canopy worked together to pave the way in defining a
premium cannabis experience in a new market.
During the course of their
relationship, Houseplant has become a popular consumer brand in Canada and is
currently a top 10 brand in the premium cannabis market in Ontario. Beverages
are a highlight of the brand's success, with Houseplant Grapefruit notably
attaining the top-selling cannabis beverage spot in Canada (measured by units
sold) in its launch year. More than one million cans of Houseplant beverages
were sold in Canada within the last year.
"The recent launch of
Houseplant in the United States has given us a clear benchmark for what
Houseplant stands for, and how we plan to bring the brand to life
globally," says Michael Mohr, Co-Founder and CEO, Houseplant. "While
our collaboration with the Canopy team has been fruitful and we continue to
hold similar views on the opportunities ahead, we believe the time is right for
us to focus on Houseplant independently."
"We're proud of our
collaboration with Houseplant. Together, we've delivered high quality and
innovative products to Canadian consumers and played a critical role in
defining the premium cannabis category in Canada," said Rade Kovacevic,
President and Chief Product Officer, Canopy Growth. "As we move forward,
Canopy will advance our focus on our wholly-owned brands for the Canadian
market and we wish the Houseplant team the best in their future
endeavors."
In Canada, some Houseplant cannabis
products will continue to be available to retailers through the end of
September 2021. Houseplant plans to relaunch in the Canadian market in the
future with products more consistent with its US offerings.
"Canada is where it all started
- for us as people, and for the brand," says Houseplant Co-Founder Seth
Rogen. "This is not an exit from the Canadian market, but a chance for us
to evolve the brand."
The relationship between Houseplant
and Canopy did not extend into the US and, as a result,this announcement will
have no impact on the business in that market. Houseplant launched a line of
premium homewares and cannabis products in the United States in March 2021 and
has quickly become a cultural and industry leader.
The
Valens Company Inc. (TSX:
VLNS) (OTCQX:
VLNCF), a leading manufacturer of cannabis products, announced that it
has signed a two-year agreement with Harvest
One Cannabis Inc. to become the white label manufacturer and provincial
sales partner of cannabis-infused topicals for their leading brand LivRelief™.
Harvest One, a global cannabis infusions CPG leader that distributes premium
health, wellness and selfcare products, successfully launched their
cannabis-infused portfolio of LivRelief products in 2020. Since then, it has
grown the product line to become the number one selling cannabis-infused
topical brand in Ontario - Canada's largest market.
LivRelief is a growing line of
cannabis-infused topical creams created using natural ingredients which utilize
a proprietary transdermal delivery system, allowing cannabinoids to reach
targeted areas and designed for deep penetration. The cannabis-infused topical
creams are now available in three formats, including the CBD-only formulation
containing 250mg of CBD, 1:1 formulation with 125mg of THC and 125 mg of CBD,
and the newly launched extra strength CBD formulation containing 750mg of CBD,
all of which will be manufactured and distributed across Canada by Valens.
Currently, the LivRelief line of cannabis-infused topical creams is available
nationally through the Medical Cannabis by Shoppers™ marketplace, and in
various provincial and private retailers in Alberta, British Columbia,
Manitoba, New Brunswick, Ontario, and Saskatchewan. Together, Harvest One and
The Valens Company will seek to expand distribution and increase consumer
awareness and brand loyalty across Canada. First shipments of products out of
the Valens facilities are forecasted at the beginning of fiscal Q4 2021.
"The LivRelief cannabis-infused
topical brand has established itself as a premium and reliable provider of
cannabis-infused topicals with a leading-edge proprietary transdermal delivery
system that took years of research, innovation, and dedication to
develop," said Tyler Robson, Chief Executive Officer, Co-Founder and Chair
of The Valens Company. "We are proud to manufacture these top-selling
creams in partnership with Harvest One and provide both new and experienced
consumers the comfort to engage with cannabis-infused topicals. Valens already
manufactures the number one selling bath product in Ontario and now adds the
number one selling cannabis-infused topical brand to its portfolio, making it a
clear leader in both the topicals and health and wellness verticals in Canada."
"We are very pleased to partner
with The Valens Company after a rigorous and strategic selection process of
possible manufacturers and distributors in Canada," said Gord Davey,
President and Chief Executive Officer of Harvest One. "Our partnership
with The Valens Company will accelerate national and global growth
opportunities. Our innovative infused topical with its effective and
differentiated delivery system has resonated very well with consumers and
established itself as a leader in the Infused Topicals category. We are looking
forward to partnering with The Valens Company, a leading expert in the cannabis
space with a superior customer service approach, to advance the manufacturing
of this product and its future extensions. We will utilize our experience in
marketing and distribution to assist in the promotion of the brand and to
increase the awareness of cannabis infused topicals across Canada."
SpeakEasy
Cannabis Club Ltd. (CSE:
EASY), a holder of a federal licence to cultivate, process
and sell cannabis under the Cannabis Act, announced a
production and processing update on its initial 2020 harvest of 72,000 KG.
Last year was all about producing
one of Canada's largest outdoor harvests and finalizing a cultivation strategy
to position itself for wholesale and retail sales. Our vision has always been
to compete in a mature market by having on-site infrastructure to achieve some
of the industry's lowest cost of production.
As 2.0 products have proven to
represent some of the largest growth categories, SpeakEasy's low-cost of input
material, combined with its on-site extraction lab and in-depth experience, is
proving to be a winning formula for the Company.
2020
Harvest Update on Process and Sales:
● With the
addition of infrastructure improvements and equipment testing completed, we
started processing the 2020 harvest on a production level in March 2021 at a
limited capacity.
● B-to-B
sales increased above our internal estimated capacity. The products were priced
at a premium in their respective categories with associated wholesale
production costs of approximately $30 million, or an average gross margin of
70%.
● 75% of
last year's outdoor harvest continues to be processed into high-quality extract
products and sold under sales contracts that are currently in place.
● SpeakEasy
continues to process its remaining inventory from the initial 2020 outdoor
harvest that will produce an estimated 2,225 kg of premium extracts. Our
concentrates will be incorporated into consumer-packaged products under
SpeakEasy's brands and distributed into the Canadian retail market. These
products currently have a retail values of approximately $115,000,000 when sold
in retail stores across Canada.
"While
many cannabis companies have raised significant amounts of capital to build
luxurious infrastructures, SpeakEasy's goal has always been focused on becoming
cash flow positive through our lean farming principles. These principles
protect our investors from dilutions while allowing us to control our own
destiny. Our processes and achievements are allowing the Company's dreams to
come true. We have relied on tremendous experience and built a strong company
culture to compete on the global stage very soon." – Founder, Marc Geen.
Green Thumb
Industries Inc. (CSE:
GTII) (OTCQX:
GTBIF), a leading national cannabis consumer packaged goods
company and owner of Rise™ Dispensaries, announced that it
has closed on the acquisition of Mobley Pain Management and Wellness Center
(DE), LLC and Canwell Processing (Rhode Island), LLC, which both held
contractual interests in Summit Medical Compassion Center, Inc., a non-profit
corporation with vertically integrated cannabis operations in Rhode Island. The
acquisition includes one of only three retail locations in the state.
“Entry
into the Rhode Island cannabis market further strengthens Green Thumb’s
position on the East Coast, a region that has embraced the freedom for adults
21+ to choose cannabis,” said Green Thumb Founder and Chief Executive Officer
Ben Kovler. “This acquisition provides immediate scale within a limited license
market and sits squarely in our enter, open, scale strategy to expand access to
well-being through cannabis. We are ready to welcome the Summit team aboard
Green Thumb’s front row seat to the Great American Growth Story.”
The
acquisition includes entry into Rhode Island with management agreements for one
of only three vertical licenses in the state including a production facility
and dispensary, both located in Warwick. The state reported approximately $60
million in retail cannabis sales for the 2020 fiscal year-end.
With
the acquisition, Green Thumb has cannabis operations to serve nearly 50% of the
United States population, including in: California, Colorado, Connecticut,
Florida, Illinois, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio,
Pennsylvania, Rhode Island and Virginia.
This
follows the company’s previous
announcement that the Company will accept applications
to its previously announced LEAP New Business Accelerator which began on August
1, 2021. The LEAP incubation program is intended to help social equity
licensees not only operationalize their licenses but also ensure their success
through mentorship and guidance from the Green Thumb team.
“We’re
thrilled to see Green Thumb’s home state of Illinois take meaningful steps to
pursue diversity and equity in the cannabis industry,” said Green Thumb Senior
Vice President of Government Affairs Dina Rollman. “These social equity
licensees not only endured the always-challenging application process but also
COVID-19 and a protracted delay in license awards. Since we first started
working with Illinois social equity applicants in September 2019, we’ve learned
a lot about the unique barriers that social equity applicants face and how we
can use our resources to advance equitable ownership in the cannabis industry
going forward. We’re excited to extend our knowledge to those awarded licenses
in the state.”
Between
August 1st and August 31st, Illinois Craft Grower and Dispensary license-holders
can apply to enter the incubator’s “Bake Off.” The Bake Off is a 10-minute
opportunity to provide an overview of the new licensee’s business to Green
Thumb’s leadership team.
Evaluation
criteria for Green Thumb’s Bake Off will include, but not be limited to, each
applicant’s:
● Business
plan compatibility with Green Thumb infrastructure and knowledge base.
● Availability
to commit time to interact with Green Thumb’s LEAP team for mentorship.
● Financial
acumen and willingness to commit to LEAP loan terms.
● Participation
in the prior licensing education and application phase of LEAP (a
consideration, not a decisive factor).
●
Authentic passion, heart and the X-factor
for promoting well-being through cannabis.
Winners
of the Bake Off will receive funding from Green Thumb and six months of
in-house mentorship. The Company will select and advise at least one dispensary
licensee and at least one craft grower licensee and focus on positioning them
for success. Visit www.gtigrows.com/LEAP for
more information.
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