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Delta, Kelowna, BC –September 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.
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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.
But
first, the Canadian Health Food Association (CHFA) released its submission to
Health Canada's consultation on Potential Market for Cannabis Health Products
(CHPs) that Would not Require Practitioner Oversight. Current cannabis
regulations in Canada prohibit the sale of CBD outside of provincially
regulated recreational cannabis retailers, or without a physician's note.
"While CHFA is pleased to see Health
Canada initiate the conversation on addressing this major gap in the cannabis
regulatory regime, we are disappointed in, and disagree with, a significant
proportion of the key parameters outlined within Health Canada's consultation
document," said Helen Long, President of CHFA.
"Health Canada has proposed a pathway
that would maintain the status quo, keeping the production and sale of all
"cannabis health products" under the Cannabis Act and its
Regulations. As a naturally occurring substance, CBD should be regulated as a
natural health product. We doubt that the proposed framework will allow
businesses to fulfill the large consumer demand for CBD health products, nor
will it displace the growing illicit market for CBD health products."
CHFA suggests a different path
forward. This pathway would require
targeted amendments to the Industrial Hemp Regulations (IHR), the Natural
Health Products Regulations (NHPR) and the Prescription Drug List (PDL) to
permit ingredients from industrial hemp to be extracted, produced and sold
outside of the scope of the Cannabis Regulations. These ingredients would then
be permitted for use in natural health products (NHPs) under the NHPR.
"Rather than duplicate Canada's existing, world class NHP regulatory
system, it would be better for Canadian consumers and Canadian industry to
permit hemp-derived CBD in NHPs," explained Long.
"Canadians are already using CBD for a
variety of health-related purposes: whether it's pain relief, helping them to
sleep, or calming their stress," added Long. "The problem is access
to legal CBD health products is limited. It doesn't make sense for Canadians to
access CBD for their health through recreational channels, and they should be
able to go to their local natural health product retailer to purchase an NHP
that contains CBD."
The proposed alternative by CHFA will also
support rapid innovation and growth within Canada's natural health product and
agricultural hemp industries by removing barriers to production, processing and
marketing of CBD derived from hemp. "The hemp sector is projecting
significant growth by 2023 – that is upwards of $1 billion in economic
benefits," added Long. "However, a proportion of this economic growth
is contingent upon an improved pathway to bring CBD health products to market –
something that CHFA's solution accounts for."
In addition to the Health Canada consultation
submission, CHFA recently launched a national campaign called "CBD is
Natural" that calls upon industry participants and Canadian consumers to
engage with their local candidates on this important issue.
"We launched CBD is Natural to
mobilize Canadians to speak-up during the election and call on all parties to
update Canada's regulations to permit the sale of CBD in NHPs – and clearly,
our message was heard," said Long. "We applaud Elizabeth May and the
Green Party of Canada for becoming the first party to formally recognize the
importance of this issue and commit to solving the problem in their official
platform by permitting hemp-derived CBD in NHPs. We now look to the other
parties to do the same."
Avicanna
Inc. (TSX: AVCN), a biopharmaceutical company focused on
the development, manufacturing and commercialization of organic and sustainable
plant-derived cannabinoid-based products, announced plans to build a new industrial scale
11,000 sq. ft (>1,000 square meter) cannabinoid extraction and final product
manufacturing facility in a Colombian free trade zone near Santa Marta. This
new facility is expected to provide for significant tax advantages and
represents the third phase of the Company's extraction strategy, building on
its existing subsidiaries' extraction and manufacturing operations in Colombia
with current aggregate annual capacity of dried flower – post extraction and
isolation – of approximately 100,000 kilograms.
The operation of the new facility will be
conducted under a proposed new subsidiary, which will be 60% owned by the
Company and 40% owned by Inmobiliaria Bondue S.A.S. The Company expects
operations at the facility to commence in the second half of 2020.
The Company and Bondue have entered into a
commercial lease agreement for space to house the facility, for an initial term
of five years, located in one of Colombia's free trade zones, which provides
for significant tax advantages for activities that are conducted on the
property.
Contributing to expanding Avicanna's
vertical integration strategy, the new facility will use cannabis sourced from
Avicanna's other majority owned Colombian based subsidiaries, Sativa Nativa
S.A.S and Santa Marta Golden Hemp S.A.S., which are situated in Santa Marta.
The extracts (active pharmaceutical ingredients) and final products produced at
the facility are expected to be distributed internationally with additional tax
savings.
Aras Azadian, Avicanna's Chief Executive
Officer, stated, "We near the final phase of our initial cultivation and
extraction footprint and are analyzing and preparing for our future scale up
with focus on efficiencies across all aspects of operations including CAPEX,
OPEX, regulations and tax. This new facility's proposed contribution to our API
business, which benefits from its location in a free trade zone, makes it a
fine example of Avicanna's focus on efficiencies across all of its business
units and our aim to ensure each unit, including the ones that are focused on
cannabinoids as API's, are both efficient profit centers and are competitive in
a commodifying global landscape."
Sativa Nativa and SMGH have licenses to
cultivate, manufacture, extract and sell medicinal cannabis in Colombia. Sativa
Nativa's cultivation facilities include 50,000 square feet of low tech green
house (shade house) and 20,000 square feet of customized high tech greenhouse
space. SMGH has applied for Good Agricultural and Collection Practices and
organic certifications and operates cultivation facilities that include 200,000
square feet of low tech green house (shade house) space and 20,000 square feet
of customized high tech greenhouse space. SMGH is currently expanding its green
house operation by approximately 70,000 square feet, and Sativa Nativa is
expanding its green house operation by approximately 50,000 square feet. The
Company expects these expansion activities to be completed by the end of 2019.
In addition, through a joint venture with
Sigma Analytical Services Inc., Avicanna is currently building a first
cannabinoids-only, analytical laboratory and independent testing service in
South America to meet Health Canada, European Pharmacopeia, US Pharmacopeia,
and compliant to EU Good Manufacturing Practices ("GMP") standards. This laboratory will provide a variety of
large licensed producers to small scale partner farmers with a comprehensive
suite of cannabis specific testing, which will include pesticides, heavy
metals, residual solvents, aflatoxins, microbial, genotyping, and cannabinoid
and terpene profiling. With technical transfer currently underway, the completion
and launch of the laboratory services is expected to occur early in the first
quarter of 2020.
Digipath, Inc. (OTCQB: DIGP), announced that it has entered into a binding letter
of intent for the acquisition of VSSL Enterprises Ltd., a British Columbia
based cannabis genomics, plant sciences and consulting firm. The acquisition is
expected to provide Digipath with a wealth of cannabis data, technology and
intellectual property, including in excess of a thousand hemp and cannabis
genotypes. The letter of intent provides for the acquisition of 100% of VSSL’s
outstanding shares of capital stock for consideration consisting of six million
shares of Digipath common stock and a cash payment of $200,000, and is subject
to the execution of definitive agreements.
VSSL
builds predictive tools for the cannabis industry. Whether it’s for a breeder,
cultivator or processor, understanding the genetic basis of key traits such as
yield, expression of secondary metabolites or disease resistance can provide a
competitive advantage to its clients by allowing rapid decision making and
process optimization. VSSL uses molecular and bioinformatics tools to deliver
unique solutions suited to its customers’ diverse germplasm and business
models.
Effective
upon signing the letter of intent, VSSL Chief Executive Officer, Kyle Remenda
was appointed to serve as Digipath’s Chief Executive officer. Todd Denkin, the
former CEO, has resigned his positions with Digipath to pursue other
opportunities. Under Mr. Denkin’s leadership, Digipath has become the leading
cannabis testing laboratory in Las Vegas, a leader in data analysis and a
recognized brand around the country. He will continue to consult with the
Company through the end of 2019.
Mr.
Remenda is a passionate advocate within the medical marijuana industry. Under
Kyle’s leadership, VSSL has become a trusted source of technology and genotype
technology and consulting. Before starting VSSL, Mr. Remenda worked in the
medical marijuana industry with established legal grow operations in North
America. He and the VSSL team bring a wealth of expertise in plant breeding,
genetics and production craft.
“Kyle
is the right person to lead the next phase in the evolution of Digipath,
building on our outstanding pedigree in cannabis technology, vision and
experience. With Kyle on board and combining with VSSL, Digipath can move into
larger revenue opportunities,” stated Todd Denkin.
Harvest Health
& Recreation, Inc. (CSE: HARV) (OTCQX: HRVSF), a vertically integrated cannabis company
with one of the largest and deepest footprints in the U.S., today announced the opening of Harvest of Venice,
expanding their footprint in the California market. Harvest's best-in-class
product offerings and exceptional store experience will now be available to the
community of Venice, CA.
"Harvest
has continued to grow our presence in the world's largest cannabis market,
California, by creating retail destinations that bring high-quality products,
local events and resources to the communities we join," said Harvest CEO
Steve White. "Venice is a community with a rich and vibrant cannabis
history and we are excited to bring our store experience to consumers in the
market, introducing them to our best-in-class products and knowledgeable
staff."
Harvest
of Venice is located at 712 Lincoln Blvd and is open from 7am to 10pm seven
days a week and features photography from Southern California photographers.
Harvest is quickly expanding its presence in California with the recent openings
of Harvest's Napa and Grover Beach locations, and upcoming opening of Harvest
of Palm Springs. Harvest has also secured the right to retail licenses in a
number of other California cities. Harvest of Venice will announce an upcoming
community event slated for later this fall.
1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF), a vertically integrated cannabis
consumer packaged goods company, announced that it has commenced the flowering cycle
of its cannabis plants in its new, purpose-built, indoor cultivation facility
located in Las Vegas, Nevada.
Following
the transfer of cannabis plants to the new facility in late August, the plants
completed a vegetative stage for four weeks. Three rooms will begin the
flowering cycle this week, lasting approximately eight weeks. The first harvest
from the initial three rooms is expected in early December, with continued
harvests thereafter every two weeks, all while new grow rooms are added in the
facility for a total of 15 bloom rooms. The initial 26 strain varieties
currently at the facility will be augmented with an additional 12 Cannabis Cup
award-winning strains to sustain the Company's flower and concentrate
production of branded AMA products and third party brands.
Mr. Tim
Spencer, Director of Cultivation, said, "Our plants are performing very
well in our state-of-the-art indoor facility and we are continuously learning
and improving our processes. The facility is specifically built with integrated
technology with high controls and automation to cultivate high-quality craft
cannabis at scale with assured consistency and efficiency." He added,
"The increased output will provide sufficient supply for the production of
our AMA branded products as well as for our licensing partners such as Blonde™
Cannabis, OG DNA Genetics, Jack Herer, and PLUGplay."
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