Investor Ideas #Potcasts
537, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NASDAQ: $CGC)
(TSXV: $NRTH.V) (TSXV: $HITI.V) (CSE: $AUSA.C) (CSE: $CHOO.C)
Delta, Kelowna, BC, March 2,
2021(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 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/2021/030221-StocksToWatch.mp3
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this in full at https://www.investorideas.com/news/2021/cannabis-potcasts/03021WEED-CGC-NRTH-HITI-AUSA-CHOO.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.
48North
Cannabis Corp. (TSXV:
NRTH), a vertically integrated Licensed Producer focused on
manufacturing high-quality cannabis products, building progressive and
thought-provoking brands, and low-cost cultivation, has
released its financial and operating results for the second
quarter ended December 31, 2020. The Company's financial statements and related
management discussion and analysis for the period are available on the
Company's SEDAR profile at www.sedar.com and on the
Company's website at www.48nrth.com/investors.
Financial
and Operating Highlights for Fiscal Q2 2021
● Quarterly
revenue of $7.6 million, representing a 346 per cent year-over-year increase
over second quarter 2020 revenues of $1.7 million and a 11.7 per cent increase
over first quarter 2021 revenues of $6.8 million.
● The
Company improved its cash use in operating activities by 46 per cent from $5.7
million in Q1 2021 to $3.1 million in Q2 2021. Having made early investments in
a state-of-the-art manufacturing, processing, and packaging facility,
Good:House, 48North expects to continue to improve its cash use. This reduced
cash burn well-positions the Company for sustainable growth and puts 48North on
a clear trajectory to near-term profitability.
● Adjusted
EBITDA1 for the quarter was $(2.9) million compared to $(4.7) million in Q2
2020, an improvement of 38.3 per cent.
● At the
end of Q2, 48North had $4.1 million in cash and cash equivalents.
● 48North
closed its private placement offering with Cormark Securities Inc.
("Cormark"), to offer for sale 22,767,000 units of the Company at a
price of $0.15 per unit for aggregate gross proceeds of $3,415,050. Cormark
exercised its over-allotment option with respect to 2,767,000 Units for
additional gross proceeds of $415,050.
● In
addition, the Company announced that it had entered into a term loan with a
senior secured lender for gross proceeds of $3.25 million.
● 48North
announced that Health Canada had granted the Company the required license for
its state-of-the-art drying facility at Good:Farm and completed the Company's
second annual harvest successfully.
● The
Company launched Latitude, a brand
with products ranging from sexual wellness, to beauty and beyond. Since
launching, the brand has launched a number of innovative products, all in
high-demand from both retailers and consumers.
● Looking
ahead, 48North expects to redouble its commitment to high-quality products that
delight the consumer as strengthened production and manufacturing capabilities
continue to support revenue increases.
"48North's Q2 Fiscal 2021
results provide us with another strong demonstration that our strategy is
working. The Company was successful in driving an increase in revenue while
dramatically decreasing its cash burn. Looking ahead, there are additional efficiencies
to leverage and significant organic growth opportunities to be capitalized
upon, including increasing the reach of the Company's newest brands Trail Mix
and Latitude, introducing new product formats, and maximizing retail
penetration," said Charles Vennat, CEO of 48North.
"As a brand-led, consumer
obsessed cannabis producer, 48North has never lost sight of the big picture.
Our strategy of putting consumers first, working hand in glove with wholesalers
and retailers to commercialize our products, and investing in a leading supply
chain that is flexible to evolving market conditions has positioned us for
continued success," continue Charles.
"The plan is simple: drive
revenue for our products and significantly lower fixed costs. We expect our
focus on increased margins, stronger cash flows, and shortening our cash
conversion cycle to generate lasting shareholder value. We continue to expand
our product pipeline with well-defined and trusted brands, and we are staying
on our path to profitability by doing what we do best: bringing flower to the
people," finished Charles.
High Tide Inc. (TSXV:
HITI) (OTCQB:
HITIF), a retail-focused cannabis corporation enhanced by
the manufacturing and distribution of consumption accessories,
filed its year-end 2020 financial results on March 1, 2021,
the highlights of which are included in this news release. The full set of
Consolidated Financial Statements and Management's Discussion and Analysis can
be viewed by visiting High Tide's website at www.hightideinc.com, its
profile page on SEDAR at www.sedar.com.
The
Company will host a conference call to discuss results at 8:30 am Eastern time
on March 2, 2021.
2020 Fiscal Year – Financial Highlights:
● Revenue
increased by 118% to $24.9 million in the fourth quarter of 2020 and by 166% to
$83.3 million for the year ended October 31, 2020. Note that the quarter does
not include any contribution from META Growth Corp., the acquisition of which
closed subsequent to the end of the quarter.
● Gross
profit increased by 112% to $8.7 million in the fourth quarter of 2020 and by
172% to $30.8 million for the year ended October 31, 2020.
● Gross
profit margin in the fourth quarter was 35%(*) and 37% for the fiscal year
ended October 31, 2020.
● Adjusted
EBITDA(1) for the fourth quarter was $3.6 million and $8.0 million for the year
ended October 31, 2020.
● Geographically
in the fourth quarter of 2020, $20.6 million of revenue was earned in Canada,
$4.1 million in the United States and $0.2 million internationally. For the
year ended October 31, 2020, $68.4 million of revenue was earned in Canada,
$14.3 million in the United States and $0.6 million internationally.
● Segment-wise
in the fourth quarter of 2020, $22.6 million of revenue was generated by
Retail, $2.2 million by Wholesale, and an immaterial amount by Corporate. For
the year ended October 31, 2020, $75.0 million of revenue was generated by
Retail, $7.9 million by Wholesale and $0.4 million by Corporate, which compares
to $24 million, $6.69 million, and $0.6 million, respectively, for the previous
year.
● Cash on
hand as at October 31, 2020 totaled $7.5 million. The Company's cash balance
has subsequently increased to approximately $38 million as of today.
"Despite
the global slump in retail sales associated with the pandemic, and thanks to
the tireless efforts of our team, we closed the year with approximately $8 million
in Adjusted EBITDA making 2020 the best year in High Tide's history," said
Raj Grover, President and Chief Executive Officer. "We continued to run
our operations tightly, ending the year off with the record levels of revenue
and Adjusted EBITDA. We are excited
about our trajectory in the United States and continue to prioritize and look
for opportunities in that market. Our integrated value chain which includes
Cannabis Bricks & Mortar stores, e-commerce platforms for consumption
accessories and hemp derived CBD products, along with manufacturing and
distribution of licensed and proprietary consumption accessories, experienced
sizeable growth on all fronts. We plan to continue to further strengthen our
chain through organic growth and strategic acquisitions creating even more
value for our shareholders. Since the
end of the fiscal year, we have already nearly doubled our size in Canada with
the closing of the META Growth acquisition. For the fiscal first quarter of
2021 we expect to report revenue in the range of $37 million to $38
million," added Mr. Grover.
Australis Capital Inc. (CSE:
AUSA) (OTC:
AUSAF) today
announced that the Company has filed its financials and
management discussion and analysis for the third quarter of fiscal 2021, the period
ending December 31, 2020.
On
November 17, 2020, an overwhelming majority of attending shareholders voted to
support the new leadership team that was proposed by a group of concerned
shareholders. Consequently, Dr. Duke Fu, Dr. Jason Dyck, Mr. Avi Geller, Mr.
Hanoz Kapadia and Mr. John Esteireiro were elected as Directors of the Company.
Dr. Duke Fu also was appointed as Interim CEO of the Company.
The
period under review, Fiscal Q3 2021, relates to the period ended December 31,
2020. Results reported therefore relate predominantly to the legacy business
and do not include any financials related to the proposed ALPS and Green
Therapeutics LLC ("GT" or "Green Therapeutics")
acquisitions (see press releases dated January 5, 2021, February 9, 2021 and February
24, 2021).
Dr. Duke Fu, Interim CEO, commented,
"We are delivering on the promises made to our shareholders when the new
leadership team took over. We are executing at a very high pace, with two
proposed acquisitions announced and moving towards completion, a completely new
leadership team installed, ALPS firing on all cylinders with over $5 million in
contracts signed in the past six weeks, and the team is progressing on further
potential partnerships, transactions and strategic revenue enhancing initiatives.
Consequently, we are exceptionally well positioned to leverage our assets and
execute on our unique expansion strategy to transform AUSA into a meaningful,
national MSO."
Jon Paul, CFO, added, "The
Company's third quarter results were impacted by a number of non-cash
impairment charges against legacy assets and operations, as well as one off
charges related to the recent proxy battle and the resulting reorganization of
the Company's board and management. Without these extraordinary expenses, net
loss would have been limited to $2.3 million. The cash burn from operations
during the quarter of $2.7 million was consistent with the first half of fiscal
2021. As we wrap up the restructuring of the legacy operations, we have a
cleaner slate for focusing on the ALPS, GT and other potential acquisitions and
partnerships as we scale our business."
Mr. Paul added, "Going forward
into fiscal Q4, we anticipate a number of material events to boost our results.
We expect to close on the ALPS transaction in early March, which is anticipated
to bring a significant boost to revenues, even with less than one month left in
the quarter. The full revenue impact from ALPS will be felt the following
quarter, Q1 of fiscal 2022. Our investments in BAMM and Quality Green, as of
today, are up by approximately $7.0 million. The sale of land held in North Las
Vegas is expected to bring approximately $1.9 million cash when the land sale
closes at the end of March."
Choom
Holdings Inc. (CSE:
CHOO) (OTCQB:
CHOOF), a fast-expanding retail cannabis company announced its
report of its financial and operating results for Q2 2021, ending December 31,
2020.
Q2 Financial Highlights:
●
Q2 2021 revenue of $6.1M
○
Increase of $4.7M and 350% over Q2 2020
revenue of $1.4M
●
Q2 2021 Gross Margin of 36.37%
○
Increase of 8.45% over Q2 2020 gross margin
of 27.92%
●
Q2 2021 General and Administrative of $0.9M
or 14.09% of revenue
○
Versus $1.3M or 95.25% of revenue Q2 2020
●
Q2 2021 Salary and Wages of $1.1M or 18.22%
of revenue
○
Versus $0.7M or 49.41% of revenue Q2 2020
●
Q2 2021 Adjusted EBITDA1 of
$0.2M or 2.90% of revenue
○
Versus -$1.8M or -135.86% of revenue Q2
2020
“Coming off the busy Q1 summer
season, traditionally the highest grossing period for cannabis retail, we were
happy to see such strong results for the second quarter” says Choom CEO, Corey
Gillon “We continue to execute on our mission of providing the best retail
cannabis experience across every market we serve”.
Sundial
Growers (NASDAQ:
SNDL) announced
today that it will release its financial results for the
full year and fourth quarter ended December 31, 2020 after market close on March 17, 2021.
Following the release of its full
year and fourth quarter financial results, Sundial will host a conference call
and webcast at 10:30 a.m. EST (8:30 a.m. MST) on March 18, 2021.
Canopy Growth Corporation (TSX:
WEED) (NASDAQ:
CGC),
a world-leading diversified cannabis, hemp, and vaporization device company, has
entered the high-potential U.S. CBD beverage category with the
launch of Quatreau, a premium ready-to-drink CBD-infused sparkling water. The
stateside launch follows the successful 2020 rollout of Canopy Growth's
CBD-infused beverages in Canada, where Quatreau is now the top-selling
ready-to-drink CBD beverage.
Quatreau
sparkling water contains 20 mg of premium, U.S. grown hemp-based CBD and one of
four refreshing flavors. With an MSRP of $3.99 per 12-ounce can, Quatreau is a
functional zero-sugar drink that delivers a natural, low calorie beverage
alternative at an accessible price point.
Product
SKUs available at launch will include:
●
Quatreau CBD-infused Sparkling Water in
Cucumber + Mint
●
Quatreau CBD-infused Sparkling Water in
Passionfruit + Guava
●
Quatreau CBD-infused Sparkling Water in
Ginger + Lime
●
Quatreau CBD-infused Sparkling Water in
Blueberry + Acai
"We
have proven our beverage strategy in Canada, where we are currently the market
share leader in CBD-infused ready-to-drink beverages, said Canopy Growth
President and Chief Product Officer Rade Kovacevic. "Beverages are fueling
growth in the CBD category and we believe this product will resonate with U.S.
consumers looking for a naturally flavored, zero sugar option."
The
launch of Quatreau in America coincides with an astrological event known as the
Age of Aquarius – the zodiac's water bearer, which brings us to the cusp of a
brand-new age. To celebrate this serendipitous event, Quatreau has partnered
with iconic celebrity astrologist Susan Miller of Astrology Zone on a digital
and social campaign.
"Astrology
has made a major pop culture comeback as people turn to the stars for guidance
during what has been an unsettling, uncertain, and stressful time for
many," said Canopy Growth Vice President of Beverages Tara Rozalowsky.
"With this campaign, we're highlighting the role functional ingredients
like CBD can play in helping people manage their stress, find moments of calm
and prioritize wellness during this once-in-a-lifetime transitional
period."
This
also follows the recent
news from Seth Rogen’s brand Houseplant, part of the Canopy
Growth Portfolio, will be coming to California in the next week. Shortly after
delivering the news Houseplant’s website was overwhelmed and crashed.
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