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Delta, Kelowna, BC –November 7, 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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at https://www.investorideas.com/news/2019/cannabis-potcasts/11071WEED-CGC-MYM-WUHN-EMH.asp
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, with 317 licenses issued by the
Alberta Gaming and Liquor Commission (AGLC), the province now has 283 private
cannabis stores open for business, accounting for 57% of the stores in Canada.
About
half of all those stores, 52%, operate using Cova Software. The Vancouver-based Point-of-Sale (POS) company is
the clear retail tech of choice in Alberta. Built specifically for cannabis
retail compliance, the software is equally popular among independent stores and
multi-location retailers, including Aylmer Nelson Cannabis, Spiritleaf, Fire
& Flower, Choom, and Prairie Records.
"We
spent a year looking at POS systems before we launched," said Darren
Bondar, President & CEO of Inner Spirit Holdings (CSE: ISH), the company
behind the Spiritleaf network of stores. "We needed a system that was
reliable, fast and easy to use. We also needed a POS partner who could scale
with us, keep up with regulations, and provide industry-leading analytics and
service. At first it appeared like there were a lot of options, but as we dug
deeper, Cova was the clear winner for Spiritleaf. We remain satisfied clients
twelve months and 37 stores later."
Cova
Software has been available to Canadian retailers since the beginning of
legalization. Tailor made for the cannabis industry, the POS automates
compliance with features like a built-in ID scanner and purchase limit alerts.
These safeguards reduce human error, prevent sales to minors, and diversion of
product to the black market. The system generates provincial reports required
by agencies like the AGLC, saving retailers hours of compiling manual reports.
"We're
really proud to be the POS-of-choice in the province," said Gary Cohen,
CEO of Cova. "Alberta's charge into the recreational cannabis market has
really inspired and challenged us to make a better and better product. We took
a compliance-first approach and put a lot of effort into staying on top of
evolving regulations and reporting, so retailers could focus on running their
stores. It's great that Alberta cannabis retailers have been on that page too.
We're very thankful that Alberta's leadership into recreational cannabis
allowed so many of those retailers to make strides."
Alberta's
private retail model and decision not to cap the number of retail licenses has
led to the country's most developed cannabis market and created a lot of
opportunity—and competition—for enterprise and independent retailers.
"As
an independent operator in Canada's most competitive cannabis market, there is
no space for a small business mindset," said Mack Andrews, Co-Owner of
Aylmer Nelson Cannabis, one of the top independent stores in Calgary. "We
needed a POS system that had enterprise-level functionality and allowed us to
effectively manage our inventory, track key metrics, and streamline workflows.
It did not take long to understand that working with Cova was the right answer,
and they have acted more as a partner than simply just a vendor."
"Earning
over 50% market share is a proud accomplishment for Cova," said Cohen.
"With that comes a lot of experience and knowledge. We like to share the
best practices we learn with new cannabis retailers, to help them avoid
mistakes. When we set our customers up, we want to set them up for
success."
IM Cannabis Corp., one of the world's pioneering medical
cannabis companies with operations across Europe, announced that its common shares are set to
commence trading today under the ticker "IMCC" on the Canadian
Securities Exchange. IMC will become one of the first Israeli medical cannabis
operator to list its shares in Canada. The listing follows the recent
completion of its reverse takeover by Israeli-based IMC Holdings Ltd. that
included a private placement offering of subscription receipts for gross
proceeds of approximately CAD$20.4 million. The Company also reported progress
in expanding its cultivation and distribution network across the fast-growing
European Union.
"The
team at IMC has done exceptionally well to position the Company as a market
leader in the EU," said Oren Shuster, Chief Executive Officer.
"Against a backdrop of challenging capital market conditions in the
cannabis industry, investors have recognized the team's stellar operating
history in the medical cannabis sector, recognized its potential and have
bought into its European expansion strategy, which now includes operations in
Germany, a supply agreement in Europe, and will soon include operations in
Portugal and Greece as well."
In
the first half of 2019, Focus Medical increased revenue to a record CAD$4.3
million, from CAD$2.4 million in the same period last year. The increase in
revenue is attributable to an increase in medical patients served over the
prior year, which has reached over 5,000 monthly patients. Under its exclusive
commercial agreement with Focus Medical, the Company is entitled to a royalty
of 25% of Focus Medical's revenue in addition to amounts for certain services
billed at cost plus 25%.
Additionally,
Focus Medical received an extension to its licenses from the Israeli Institute
of Quality & Control to grow and propagate cannabis for medical use until
October 2020. The license extension confirms that Focus Medical meets
IMC-G.A.P. standards.
A
key pillar of the Company's growth strategy is continued international
expansion. IMC has made significant progress at increasing its cultivation and
distribution operations in the EU. IMC views the market in Germany as
particularly attractive given its size, regulatory structure and proximity to
Israel. Accordingly, in March 2019, IMC purchased Adjupharm GmbH
("Adjupharm"), an EU-GMP manufacturer and distributor based in
Germany. Adjupharm is fully licensed to import, export and distribute medical
cannabis in Germany with a 13-year track record of distributing medical
products to pharmacies.
Furthermore,
the Company's cultivation partner in Europe has received its EU-GMP
certification and has already planted the first cycle of production. First
shipment of IMC-branded medical cannabis to Germany is expected in second
quarter of 2020. Management continues to pursue other partnerships that will
increase the distribution of IMC-branded products to pharmacies in Germany.
"We
are making great strides expanding our operations in Europe. This is
attributable to the unmatched experience and knowledge our team has accumulated
over the past nine years in the medical cannabis sector in Israel," Mr.
Shuster continued. "We expect that the demand for medical cannabis in the
EU will continue to increase over the long-term. Accordingly, our business
strategy focuses on leveraging the first mover advantage by operating the
highest standard facilities, producing top quality pharma-grade cannabis and
distributing IMC-branded products through established channels. At the same time,
we will continue to leverage our presence in Israel to bolster IMC's research
and development initiative and collaborate with world renowned scientists on
cutting-edge technology to the benefit of patients around the world. We have
been active in the research and development ecosystem for cannabis technologies
in Israel and expect to make further announcements regarding these efforts in
the near term."
Canopy
Growth Corporation (TSX: WEED) (NYSE: CGC) and Aubrey Drake Graham
("Drake") announced that they have entered into agreements to
launch the More Life Growth CompanyTM, a fully licensed producer of
cannabis based in Drake's hometown of Toronto, Canada.
"When we first began talks with Drake
we were extremely inspired by and aligned with his vision to bring
best-in-class cannabis products to the world," said Mark Zekulin, CEO, Canopy
Growth Corporation. "Drake's perspective as a culture leader and
entrepreneur combined with Canopy Growth's breadth of cannabis knowledge will
allow our new company to bring an unmatched cannabis experience to global
markets."
Drake's eclectic career includes experience
across a wide variety of industries including music, television, film, fashion,
sports, brand development, content curation and social and digital media
strategy. Having launched numerous successful brands over the past decade, he
is uniquely positioned to bring his innovative eye to the recreational cannabis
industry.
"The opportunity to partner with a
world-class company like Canopy Growth on a global scale is really
exciting," shared More Life Growth Company founder, Drake. "The idea
of being able to build something special in an industry that is ever growing
has been inspiring. More Life and More Blessing."
Proudly based in Drake's hometown of
Toronto, More LifeTM is centred around wellness, discovery and
overall personal growth with the hope of facilitating connections and shared
experiences across the globe.
"All in all, we couldn't be more
excited to partner with Drake to bring his vision for the More Life Growth
Company to global cannabis markets," concluded Mr. Zekulin. "We anticipate
a long, successful, and mutually beneficial working relationship."
The Company and Drake will share further
details on the More LifeTM team and vision in the weeks to come.
MYM Nutraceuticals
Inc. (CSE: MYM) (OTCBB: MYMMF) has signed a non-binding letter of intent with Crop Infrastructure Corp. to acquire
all of the issued and outstanding shares in the capital of Crop, a company
which owns cannabis and hemp assets in Washington, Nevada, California, and
Oklahoma. MYM has the intention of developing and implementing an extensive
restructuring plan for Crop.
MYM
is the first and only Canadian company that offers integrated strategic,
financial, management, operational and marketing services to cannabis entities
that have valuable assets but require management support and capital to
navigate today's challenging landscape. The acquisition of Crop is the first of
what is expected to be a series of opportunistic acquisitions and/or
investments.
"The
capital markets in the cannabis industry have become complex and
demanding," said Howard Steinberg, CEO of MYM. "We are looking to
acquire companies with valuable core assets that are poised to benefit from the
restructuring expertise our team can bring, in terms of both capital and
management support. We look forward to working closely with the Crop team as we
develop a financial and operational plan to enable its assets to flourish in
the future."
Michael
Ruscetta, CEO of Trichome Financial, commented "MYM's strategy aligns very
well with the core capabilities of its management team as well as our view of current
market dynamics and opportunities in the cannabis sector."
"We
enthusiastically support the MYM transaction to acquire Crop," said Jesse
Kaplan, Principal of Plaza Capital. "We have confidence in their deeply
talented team and ability to restructure Crop's distressed assets to make them
profitable. We look forward to working with them on this and potentially future
restructuring projects."
"MYM's
team has proven to be extremely knowledgeable and reliable in helping Crop
realign our strategy," said Michael Yorke, CEO of Crop. "They are
extremely talented and well capitalized. We believe that this transaction is in
the best interest of our shareholders."
Under
the terms of the proposed transaction, MYM would acquire all of the outstanding
common shares of Crop on an exchange ratio of 10.5 Crop shares for 1 MYM common
share. The transaction is conditional on, among other things, definitive
documentation and court and Crop shareholder approval.
The Company announced the launching of its
premium CBD product lines in the coming weeks. The launch includes the CBD
cosmetics line and the CBD coffee line in pharmacies, convenience stores and
hotels across South Africa. The products are branded under the trademarks: DrAnnaRx™ and Medspresso™ respectively.
Their
Premium Pharmaceutical Grade CBD is supplied by Folium Bioscience using their patent-pending cannabinoid
extraction technology that offers superior high bioavailability of
Broad-Spectrum Phytocannabinoids. This results in a final product that is
completely free of THC and ensures our customers receive the highest-quality
CBD in the industry.
"Many CBD products introduced to the
market are of unverified quality. It has been our mandate to only offer
products using pharmaceutical-grade CBD and to deliver only the best for our
customers," commented Jeff Robinson, CEO of Wuhan.
The company’s CBD creations are
manufactured in South Africa by our subsidiary MJ Medtech. Biodelta
Nutraceuticals is their distributor in South Africa and surrounding African
countries.
Luka Marjanovic commented as Head of
Product for the Company: "I’ve been visiting many of the stores that will
be carrying our lines. The in-store specialists are very keen to get our
product on the shelf. Customer inquiries about CBD based products in the stores
are the talk of the town, without anyone to fill the demand gap - until now.
Having boots on the ground and such close relationships with our points of
sales are of great value and provide us with vital data. For the launch itself,
we will conduct significant campaigning, visiting multiple pharmacies per day
and conducting doctor training sessions with the personnel and Dr. Anna."
Wuhan will be applying to Health Canada for
its Processing License under the Cannabis Act to allow the sale of cosmetics,
topicals, and edibles for medical and legal adult consumer markets.
The Company plans to submit 5 SKUs to
Health Canada and plans on submitting more in the coming months as it expands
its product lines.
"We are working very hard to create
significant value for our shareholders and are definitely going to take
advantage of the recent Canadian regulations that went into effect October 17,
2019," commented Jeff Robinson, CEO of Wuhan.
Wuhan has been researching multiple
medicinal mushroom types in order to formulate its upcoming range of cosmetics,
coffee, and teas for commercialization in early Q1 of 2020 within its M2Bio
division.
"We are very excited about the launch
in South Africa. We will be selling our products to our first customers in the
coming weeks. It’s a huge milestone for the company and its shareholders,"
said Jeff Robinson, CEO of Wuhan.
Emerald Health
Therapeutics, Inc. (TSXV: EMH) (OTCQX: EMHTF) has signed an agreement to become a new supplier to STENOCARE A/S
of medical cannabis for Denmark and STENOCARE’s international markets.
Since
early September 2019, Emerald and STENOCARE have worked closely together to
pre-qualify Emerald’s products and production methods. STENOCARE and Emerald
will now commence the work with the Danish Medicines Agency (“DMA”) to have
Emerald’s products ready and approved for the Danish Medical Cannabis Pilot
Programme. The companies are aiming for product approval for CBD oil, THC oil
and CBD+THC oil. The partnership is also intended to extend to STENOCARE’s
Irish subsidiary and to additional markets which are being evaluated.
“STENOCARE
has carefully evaluated potential new suppliers of medical cannabis in order to
supply products suitable for Danish patients according to the strict
requirements of the Danish Medicines Agency. We selected Emerald because of
their strong capabilities across cultivation, processing, formulation and
testing,” said Thomas Skovlund Schnegelsberg, CEO of STENOCARE. “We have
previously been supplying medical cannabis to hospitals and pharmacies and have
a ready customer base awaiting a new supply of products. We expect our
partnership with Emerald to help us meet this demand and support STENOCARE’s
vision of supplying medical cannabis that helps patients to achieve a better
quality of life.”
“We
respect STENOCARE’s professionalism and their accomplishment in establishing
leading distribution channels for medical cannabis in Denmark. We also
appreciate their trust in Emerald’s capability’s and standards as they
transition to new preferred supplier relationships,” said Riaz Bandali, CEO of
Emerald. “As Emerald ramps up production at its two recently fully-licensed
production facilities, we look forward to fulfilling our commitment to
STENOCARE and helping them to serve Danish patients.”
On
January 1st, 2018, medical cannabis was legalized in Denmark under a four-year
trial-programme, enabling all Danish physicians to prescribe cannabis for
medical use. This programme also allows vendors that have been licensed by the
Danish Medicines Agency (DMA) to cultivate, produce, import and distribute
medical cannabis.
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