Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move: (CSE:
$CRFT.C) (CSE: $OILS.C) (TSX: $TRST.TO) (NYSE: $CTST)
(TSXV: $RIV.V)
Delta, Kelowna, BC –August 12,
2019 (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 edition of Investorideas.com potcastsCM -
cannabis news and stocks to watch plus insight from thought leaders and
experts.
Listen to the podcast:
Read this in full
at https://www.investorideas.com/news/2019/cannabis-potcasts/08121CRFT-OILS-TRST-CTST-RIV.asp
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 early announcements.
Pasha Brands Ltd. (CSE:
CRFT) (OTC:CRFTF),
North America's largest craft cannabis brand house, announced that
its wholly owned subsidiary, BC Craft Supply Co. Ltd, has signed a supply
agreement with Canada's first licensed micro processor, North 40 Cannabis.
Founded by Gord Nichol in Nipawin,
Saskatchewan, North 40 Cannabis received its micro-cultivation and
micro-processing licences from Health Canada on July 26, 2019. Under the
agreement with Pasha, North 40 will supply BC Craft with North 40's annual
production, to be sold as dried flower and other cannabis products in Canada.
"I'm absolutely thrilled to have
signed an agreement with a company like Pasha," said Gord Nichol, founder
of North 40 Cannabis. "They have shown micro cultivators like me that they
are dedicated to ensuring craft producers in Canada will flourish under
legalization. I'm excited to move ahead and looking forward to our first
harvest this year." North 40 Cannabis will plant its first legal crop in
August 2019 and harvest later in the fall.
With Canada's current licensed cannabis
producers only able to supply an estimated 15 percent of what Canadians are
consuming, Pasha is optimistic that, in addition to its previously established
supply agreement with Hearst Organic, this new supply agreement with a licensed
micro cultivator and micro processor will help correct the cannabis supply
imbalance and bring exciting new products to market. Each micro cultivator in
Canada will be able to produce approximately 500 kilograms of cannabis per
year, while each micro processor can process up to 600 kilograms of cannabis
per year. Canada has tens of thousands of craft producers operating in the
illicit cannabis market and Pasha's wholly-owned subsidiary BC Craft Supply Co.
is focused on helping as many small farmers transition into the regulated
market as possible.
"Signing this agreement with
Canada's first microprocessor is very significant as it affirms BC Craft's
business model with not only the micro-cultivation market but also now with
processors," said Jason Longden, CEO of Pasha Brands in reaction to the
news. "North 40 has established a state-of-the-art cultivation and
processing facility and we are proud to work with such an innovative team. This
is simply the next step in fulfilling our goal of becoming the biggest producer
of craft cannabis products in Canada and I'm confident North 40 will help us
bring Canadians more of the cannabis that they're looking for.”
Nextleaf Solutions Ltd. (CSE:
OILS) (OTCQB:
OILFF), an extraction technology company that
owns a portfolio of issued and pending patents pertaining to the Company's
industrial-scale process of extraction and purification of cannabinoids, announced that
the completion of two research and development projects with the National
Research Council of Canada's Industrial Research Assistance Program ("IRAP"), and the Natural Science
and Engineering Council ("NSERC").
During the yearlong IRAP project,
Nextleaf successfully developed a media treatment process to remove undesirable
elements such as chlorophyll, carotenoids, and anthocyanins from crude extract.
The project was conducted using common hops (Humulus lupulus), a suitable
analog for cannabis as the two are genetically related, and contain a similar
pigment and oil profile.
The five-person research team - including
four PhDs - was led by Nextleaf's Engineering Manager, Krupal Pal, PhD, P.Eng.
"We found unique ways to adapt existing validated technology from
complimentary industries such as oenology, as well as drawing on my previous
experience in oil and gas refinement" stated Dr. Pal.
Technology developed during the IRAP
funded R&D project will be applied within Nextleaf's patented extraction
process and used in the production of THC and CBD distillates for vapes,
edibles, and beverages once legalized in Canada. "Chlorophyll and other pigments
can affect the consumer experience in a number of ways, including inferior
taste and appearance," said Dr. Krupal Pal, "but more importantly
chlorophyll can affect the functionality of vape hardware as it has a different
temperature tolerance and vaporizes at a different rate compared to THC and
CBD."
Additionally, Dr. Pal led efforts with
regards to Nextleaf's collaborative research project with the University of
British Columbia (UBC), and British Columbia Institute of Technology (BCIT)
under the auspices of an NSERC grant. The project was anchored in a
sustainability-driven outcome with the goal to repurpose post-extraction
cannabis biomass, and minimize waste byproducts.
Hemp biomass, when reduced to ash under
Nextleaf's incineration process, shows considerable promise as a replacement
for fly ash as a key ingredient in Portland Cement due to the silica content.
When leveraged as a biofuel during hemp ash production, power is generated and
metric tonnes of biomass can be diverted from landfills and used as a
supplementary cementitious material. Current estimates indicate close to a
billion kilograms of biomass being harvested annually by the marijuana and hemp
industry.
"We were adamant on finding an
environmentally conscious way to put cannabis biomass waste used in our
extraction process to good use, and the evidence suggests we've found it,"
stated Paul Pedersen, CEO of Nextleaf Solutions. "These two R&D
projects speak to Nextleaf's talent for research collaboration and
technological innovation, key pillars in our growth strategy."
CannTrust Holdings Inc. (TSX:
TRST) (NYSE:
CTST) provided
an interim update concerning certain recent developments
affecting the Company.
After trading hours on Friday, August 9,
2019, CannTrust received a report from Health Canada notifying the Company that
its manufacturing facility in Vaughan, Ontario has been rated non-compliant
with certain regulations. CannTrust has accepted Health Canada's findings and
remedial actions are underway.
Heath Canada's rating was based on
observations made during an inspection completed during the period July 10-16,
2019, which noted:
●
The conversion of five rooms from
operational areas to storage areas, which were used for storage since June 2018
without prior approval of Health Canada;
●
The construction of two new areas without
prior approval of Health Canada, one of which was used to store cannabis since
November 2018;
●
Insufficient security controls at the
manufacturing facility;
●
Inadequate quality assurance
investigations and controls;
●
Standard operating procedures that did
not to meet the requirements under regulations; and
Documents or information that were not
retained in a manner to enable Health Canada to complete its audit in a timely
manner.
As previously announced, the Company
implemented a voluntary hold on the sale and shipment of all cannabis products
while Health Canada reviewed its Vaughan, Ontario manufacturing facility.
CannTrust continues to work closely with Health Canada and will provide further
details of the hold and other developments as they become available.
Under the direction of the recently
constituted independent Special Committee of the board of directors of the
Company and newly-appointed interim CEO, Robert Marcovitch, the Company has
already begun the process of investigating and remediating the root causes of
any non-compliance and expects to propose a robust remediation plan to Health
Canada.
The Company's CEO Robert Marcovitch
stated: "We are continuing to work hard to regain the trust of Health
Canada, our patients, shareholders and partners. We have retained independent
consultants who have already started addressing some of the deficiencies noted
in Health Canada's report. We are looking at the root causes of these issues
and will take whatever remedial steps are necessary to bring the Company into
full regulatory compliance as quickly as possible."
Although the Company, under the
supervision of the Special Committee, is preparing a remediation plan for
submission to and consideration by Health Canada, Health Canada has advised the
Company that it is currently unable to provide any guidance about the timing or
content of its decisions concerning the Company.
Canopy Rivers Inc. (TSXV:
RIV) (OTC:
CNPOF) announced that
it has received conditional approval from the Toronto Stock Exchange to
graduate from the TSX Venture Exchange and list its class A subordinate voting
shares on the TSX.
"This represents another important
milestone for Canopy Rivers and demonstrates the Company's continued growth and
commitment to driving shareholder value," said Narbe Alexandrian,
President and CEO of Canopy Rivers. "We believe that a TSX listing will
substantiate our strong commitment to corporate governance and provide us with
exposure to a broad new investor base that will enhance liquidity."
Final approval of the listing is subject
to Canopy Rivers meeting certain standard and customary conditions required by
the TSX. Upon receipt of final TSX approval, Canopy Rivers' Subordinate Voting
Shares will be voluntarily delisted from the TSXV and commence trading on the
TSX under the ticker symbol "RIV".
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