Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move: (CSE:
$CSI.C) (TSX: $AVCN.TO) (NASDAQ: $SNDL) (TSXV: $DN.V) (TSXV: $WL.V) (CSE: $SOL.C)
(CSE: $IONC.C)
Delta, Kelowna, BC –August 30, 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:
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at https://www.investorideas.com/news/2019/cannabis-potcasts/08301CSI-AVCN-SNDL-DN-WL-SOL-IONC.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.
Chemesis
International Inc. (CSE: CSI) (OTC: CADMF) announced that Happy Tea products will be carried
across Chemesis’ GSRX retail dispensaries in Puerto Rico and California by
September 2019. This announcement builds on the previously announced $4,000,000
USD purchase order and the partnership to develop and manufacture new products.
Chemesis
will manufacture and carry Happy Tea’s CBD infused drink mixes and sachets, as
well as newly developed gummies, tinctures, and creams. The Company is working
closely with Happy Tea to increase the size of its product catalogue and
expects to have the newly developed products available shortly. This
partnership has allowed the Company to quickly develop additional product SKU’s
as well as provide consistent and quality manufacturing.
Happy
Tea has received tremendous earned media since being endorsed through Kylie
Jenner’s Instagram. The company is experiencing tremendous growth online in
Instagram following, subscription sales, and brand recognition.
“Over
the past couple of weeks, we have received tremendous excitement and interest
for our Happy Tea products from top retailers and distribution partners,” said
Chief Operating Officer of Happy Tea, Jarrod Swanger. “Over the next couple of
months, we are expecting to see continued updates on significant retail orders.
Our partnership with Chemesis has allowed us to secure consistent and
large-scale production of our products which most larger retailers are wanting
to see. We are excited to continue to ramp up production with Chemesis and work
with GSRX retail dispensaries.”
“There
has been a major increase in demand for Happy Tea’s products since receiving an
endorsement from Kylie Jenner,” said Chief Executive Officer of Chemesis, Edgar
Montero. “Chemesis will ensure all Happy Tea products are available across GSRX
dispensaries as well as continue to develop new products under our partnership.
The Company will also continue to work with Happy Tea to provide products to
consumers via e-commerce and other platforms. The introduction of Happy Tea
products to our dispensaries adds efficiencies and also increases our margins
as Chemesis controls a larger portion of the supply chain.”
Avicanna Inc. (TSX: AVCN) a biopharmaceutical company focused on the
development, manufacturing and commercialization of plant-derived
cannabinoid-based products announced that it has expanded the scope and duration
of its research and collaboration agreement with Dr. Christine Allen's research
group at the University of Toronto. Additionally, Dr. Allen has stepped down as
Avicanna's Chief Scientific Officer, having accepted a prominent role with the
University of Toronto, however, Dr. Allen will increase her involvement in
Avicanna's pharmaceutical development and optimization through the expanded
collaboration between Avicanna and Dr. Allen's research group. Avicanna further
announced that it has entered into a research agreement with the University of
Guelph. The total amount that the Company expects to spend on its research and
development activities in connection with these agreements is approximately as
follows: (i) $257,000 in 2019; (ii) $410,000 in 2020; (iii) $395,000 in 2021
and (iv) $198,000 in 2022.
University of
Toronto
Avicanna
has amended its sponsored research and collaboration agreement with the
University of Toronto to extend its partnership with Dr. Christine Allen's
research group to November 2022. The expanded scope of the sponsored research
and collaboration agreement outlines several projects including the
characterization and pre-clinical analysis of Avicanna's pipeline of
phyto-therapeutic & pharmaceutical products and the development of other
pharmaceutical dosage forms including sustained release formulations.
Additional projects under the research and collaboration agreement include
analysis of the safety, efficacy and potential synergies of cannabinoids and
other therapeutic agents.
Additionally,
Avicanna will collaborate with the University of Toronto to design and develop
advanced nanoparticle and microparticle-based pharmaceutical formulations
comprised of cannabinoid/terpene-based therapies with a specific focus on
applications in cancer, osteoarthritis and inflammatory bowel disease.
In
addition, Dr. Allen has accepted a role as Associate Vice-President &
Vice-Provost, Strategic Initiatives at the University of Toronto. In connection
with her appointment, Dr. Allen has stepped down as the Company's Chief
Scientific Officer but will continue to lead Avicanna's pharmaceutical
development efforts through the extended research & collaboration
agreement.
"I
would like to take this opportunity to thank Dr. Christine Allen for her leadership
in the establishment of our research and development practices, which now
extend globally across four active laboratories, and the completion of several
product categories including derma-cosmetics, phyto-therapeutic and specific
pharmaceuticals. As we proceed to the next stage, which is commercialization,
we are grateful to have Dr. Allen's continued support in the development of the
more advanced pharmaceutical products where she is a world-renowned
expert." said Aras Azadian, Chief
Executive Officer of Avicanna.
University of
Guelph
Avicanna
has entered into a research agreement with the University of Guelph for a
project to be performed by Dr. Max Jones, Associate Professor, Department of
Plant Agriculture, as principal investigator. Dr. Jones has been involved in
the development of Avicanna's long term genetics and breeding program over the
past six (6) months. The program is focused on the stabilization of unique
commercial strains, long term selective breeding programs to develop genetics
with increased efficiency and also increased expression and characterization of
rare cannabinoids. The project to be performed under the Research Agreement is
expected to provide genetic analysis of Avicanna's cultivars to provide a
genetic "fingerprint" for each cultivar and determine their relative
relationships (i.e. genetic distance) to one another. Additionally, Dr. Jones'
group is hopeful to produce polyploid plants for Avicanna's breeding program
and establish and optimize tissue culture and micropropagation methods that can
be utilized in Avicanna's cultivation sites in Colombia. All research data and
research reports created under the Research Agreement will remain the sole
property of Avicanna, however, Avicanna has granted a license to the University
of Guelph to use such reports and data for research and academic purposes. The
study is expected to be completed in two (2) phases and will continue for a
period of one (1) year from the date the University of Guelph obtains a permit
from Health Canada to import certain plant material from the Company's
subsidiaries in Colombia. The cost of the study is expected to be approximately
$59,360.
Aras
Azadian, the Company's Chief Executive Officer, stated "As a leading
company focused on research and development and intellectual property
development in the cannabinoid industry, we believe it is imperative to have
this evidence-based philosophy in all of our business units including our
cultivation projects, and its genetics and seed programs. With this
collaboration we aim to ensure that Avicanna is prepared for the future of this
emerging industry by staying ahead of the curve through our advanced genetic
development and breeding programs."
Sundial Growers
Inc. (NASDAQ: SNDL) announced today that it has entered into a syndicated
credit agreement with ATB Financial and Bank of Montreal as co-lead arrangers
and joint bookrunners with ATB as administrative agent and BMO as syndication
agent.
Under
the terms of the Credit Agreement, the Lenders will provide Sundial with an
initial C$90 million of secured debt facilities, comprised of a C$84 million
senior secured term credit facility and a C$6 million senior secured revolving
operating facility. Under the Credit Agreement, Sundial also has the right to
an additional facility to a maximum of C$50 million (for a total of C$140
million) to finance the construction of additional buildings at its Canadian
production facilities, subject to the consent of the Lenders and satisfaction
of certain other conditions.
Upon
closing of the Credit Agreement, approximately C$48 million of the Credit
Facility was drawn to refinance amounts owing under the Company's prior debt
facility with ATB. The term of the Credit Facility is two years. The Credit
Facility is secured by all of Sundial's Canadian assets, including its production
facilities comprised of the flagship production facility located in Olds,
Alberta, the Rocky View, Alberta facility and the purpose-built facility
currently being constructed in Merritt, British Columbia.
"With
the completion of the Credit Facility, including the C$50 million accordion
feature, and the proceeds from our recent IPO, we are well capitalized to
execute our business plan in both Canada and the UK/Europe. This is a
significant step for our business and will allow Sundial to focus on what we do
best which is to proudly craft pioneering cannabis brands to Heal, Help and
Play," said Torsten Kuenzlen, Chief Executive Officer of Sundial.
DELTA 9 CANNABIS
INC. (TSXV: DN) (OTCQX: VRNDF) announced that its Securities will begin trading on
the Toronto Stock Exchange as of the opening of the market on September 3,
2019.
"With
the increased visibility that trading on the TSX provides to the retail and
institutional investor base, the up-listing will help to increase trading
liquidity and access a growing investor base interested in the cannabis
industry," said John Arbuthnot, founder and Chief Executive Officer of the
Company.
Upon
listing on the TSX, the Securities will continue to trade under the symbol
"DN" for the common shares, "DN.WT." for the common share
purchase warrants expiring June 28, 2020, "DN.WT.A." for the common
share purchase warrants expiring July 17, 2022, and "DN.DB" for the
8.5% unsecured convertible debentures of the Company. In conjunction with the
listing on the TSX, the Securities will be voluntarily delisted from the TSX
Venture Exchange prior to the commencement of trading on September 3, 2019.
Westleaf Inc. (TSX-V:WL) (OTCQB:WSLFF) released its second quarter financial
results for the
fiscal year 2019, ending June 30, 2019 and provided an update on operations.
Key Highlights:
● Westleaf completed construction on Phase I
of The Plant, the Company's large-scale extraction, processing and product
formulation facility in Calgary (built to EU GMP specifications), which is now
awaiting approval for a standard processing licence from Health Canada;
● The Company completed two key strategic
acquisitions – (i) Canndara, a cannabis retail company with prospective retail
locations across Canada and (ii) acquiring its partner's 50% interest in
Westleaf Labs Inc., providing the Company with full control of The Plant
extraction, processing and product formulation facility;
● The Company acquired two retail locations
in Saskatoon, Saskatchewan in two separate transactions and opened three
Prairie Records retail locations in that province, as well as e-commerce, and
is expecting to open a fourth store in Calgary on August 31, 2019;
● The Company reported total revenue for the
second quarter of $913,000, which represents revenue from three stores in the
Saskatoon region open for partial portions of the reporting period;
● On May 10, 2019, the Company completed a
bought deal financing with a syndicate of underwriters for 12,000 convertible
debenture units at a price of $1,000 for gross proceeds of $12 million;
● Westleaf continued to strengthen its
leadership team – Adam Coates, was promoted to Chief Commercial Officer; John
Radostits of Edmonton and Cody Church of Calgary were appointed to the Board of
Directors;
● The Company is committed to a focus on
overall cost reductions and financial prudence in all its business lines as it
enters the second half of 2019.
"Overall,
despite the headwinds in the public markets, we maintained our progress through
the first half of the year to build and operationalize all three of our
business lines with a focus on customer engagement and supplying high quality,
consistent products to the market, in conjunction with preparing for the next
phase of legalized cannabis products in Canada" said Scott Hurd, President
and CEO of Westleaf Inc. "We are thrilled that we have fully completed construction
of our extraction, processing, and product formulation facility, The Plant by
Westleaf Labs, and we anticipate receiving our standard processing licence from
Health Canada in time to manufacture a wide array of new derivative products
for the start of Cannabis 2.0 in Canada. We anticipate that the introduction of
a more diversified cannabis product offering across Canada will lead to a
significant increase in the consumer base and related sales across our retail
portfolio".
SOL Global
Investments Corp. (CSE: SOL) (OTC: SOLCF) released its financial results as at and for the three-month period ended
June 30, 2019.
Despite
sector-wide market volatility, SOL Global held fast to its strategic direction
and made additional investments in the cannabis, CBD and hemp sectors,
primarily through increased investments into CannCure Investments Inc. and
Heavenly Rx Ltd. During the three-month period ended June 30, 2019 and beyond,
the industry experienced numerous material market challenges which affected SOL
Global and its competitors. Moving forward, SOL Global remains focused on its
transition to becoming a cannabis multistate operator, Bluma Wellness, and
investing in operational upgrades in Michigan, California and Florida to
efficiently scale up operations to expedite the path to profitability for
Bluma, which it expects to ultimately deliver value to the Company's
shareholders.
SOL
Global has signed a binding LOI to acquire ECD, Inc., which operates as Northern Emeralds, an industry leading
cannabis cultivation, processing and distribution company headquartered in
Humboldt County, California, for an aggregate purchase price of US$120 million
payable in common shares pursuant to the terms of the binding transaction
documents. Northern Emeralds is expected to operate under Bluma Wellness and is
expected to be a key driver of product quality and authenticity across all
three of Bluma's licensed states via Northern Emeralds pre-eminent and cutting
edge data based cultivation and curing techniques and standard operating
procedures, as well as their heralded genetics.
SOL
Global has signed a binding LOI to acquire six licensed cannabis dispensary
companies and all One Plant
intellectual property in California for an aggregate purchase price of US$17
million, payable by US$5 million in cash and US$12 million in common shares,
from Three Habitat Consulting Holdco Inc. that will subsequently operate under
the nationally recognized "One Plant" brand. One Plant is expected to
be the brand name of all of Bluma Wellnesses anticipated 49 retail stores
spread throughout Florida, Michigan and California.
The
Company completed its acquisition of CannCure,
an entity that indirectly holds a 100% interest in 3 Boys Farm, LLC , on April
8, 2019. 3 Boys Farm is one of the originally licensed medical marijuana
treatment centers in Florida, and has completed substantial operational
upgrades to its Ruskin, Florida cultivation facility. 3 Boys Farm has brought
cannabis cultivation legends like Chris Keller (master grower), PBud
(Co-Founder of ChemD) and a portfolio of leading California brands into Florida
and has launched sales via home delivery to rave reviews. 3 Boys Farm will open
six (6) dispensaries in Florida in 2019 and will have a total of 19
dispensaries open in Florida by the end of 2020.
The
Company has a binding LOI to acquire the Michigan-based MCP Wellness Inc., which operates retail and cultivation centers,
for a total of US$35 million in cash and US$115 million in common shock. MCP
Wellness is presently operating three dispensaries in the Detroit area, is
opening a fourth dispensary in Ann Arbor, and is finalizing plans to construct
a cultivation facility (MCP already holds a cultivation license).
On
July 12, 2019 the Company purchased 37,662,500 common shares of Heavenly Rx
Ltd. at a price of $0.40 for an aggregate subscription amount of $15,065,000.
On July 29, 2019 the Company purchased an additional 16,766,250 common shares
of Heavenly Rx Ltd. at a price of $0.40 for an aggregate subscription amount of
$23,909,000. As such, SOL Global presently owns approximately 42% of the issued
and outstanding Heavenly Shares.
"It
was a tough quarter for the Cannabis sector and that's the primary reason for
our unrealized loss. The positive is
that's exactly what it was, unrealized. Brady continues to execute with
tremendous success on CannCure and its transformation to Bluma Wellness while
strategically building out his operational team and the The Bluma Board. Paul
Norman has built the foundation of an executive team and board that is simply
unprecedented in this newly pioneered sector and their execution is what you
would expect from a team of this caliber." said SOL Global's Chief
Investment Officer Andrew DeFrancesco. "The investment team and I continue
to provide financing for growth while continuing to provide guidance toward
strategy and execution for those core holdings.
We also continue to search and drill down on potential investments for
the growth of the portfolio with the primary focus to bring accretive value to
our primary investments which will reward the stockholders in short
order."
IONIC
BRANDS CORP. (CSE: IONC) (OTC: IONKF) announced its second quarter 2019 financial results
as it achieves a milestone of $5.9M of revenue for the first half of the year.
Highlights for the quarter ended June 30,
2019 included:
● Completed a number of strategic synergistic
acquisitions
○ Cannabis-infused coffee patents
○ Zoots Premium Cannabis-Infused Edibles
○ Vegas Valley Growers (subject to regulatory
approval)
● Completed a concurrent brokered and
non-brokered debenture unit offering raising gross proceeds of approximately
C$20 million.
John Gorst, Chairman & CEO of IONIC
BRANDS, stated, “We are very pleased with our second quarter financial results,
achieving our focus of increasing sales growth while closing a successful
financing for various strategic business acquisitions all in a span of three
months.”
During the three months ended June 30,
2019, the Company’s main focus was on increasing its sales both by acquisition
and expansion. For the three months ended June 30, 2019, revenue from product
and services sales was $3,053,372, representing an increase of 450%, compared
to product sales revenue of $554,690 during the same period in the prior
year. The increase in product sales is
primarily due to the Company’s effort in developing its business and also the
result of two acquisitions.
In addition, business development expenses
increased compared to the prior year is due to increased marketing expenditures
connected with new product introductions and expansion initiatives into the
states of Oregon and California and also the result of two acquisitions.
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