Thursday, 6 May 2021
Investor Ideas #Potcasts 560, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C), (TSXV: $MUSH.V), (NASDAQ: $SNDL), (CSE: $EASY.C). (CSE: $TRUL.C)
Investor Ideas #Potcasts
560, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C), (TSXV: $MUSH.V),
(NASDAQ: $SNDL), (CSE: $EASY.C). (CSE: $TRUL.C)
Delta, Kelowna, BC, May 6, 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/2021/050621-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/05061XTRX-MUSH-SNDL-EASY-TRUL.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
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.
Today’s
podcast is sponsored by Phyto
Extractions Inc. (CSE:XTRX), an
agricultural-scale cannabis extraction, distillation and product manufacturer
located in Langley, BC at its co-located Health Canada Licensed Standard
Processing (extraction, no cultivation), Sales (extracts, topicals, and
edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through
Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D
license amendment.
In
today’s podcast we look at a few public company announcements.
Sundial Growers Inc. (NASDAQ:
SNDL) and Inner Spirit Holdings Ltd. (CSE:
ISH) (OTCQB:
INSHF) announced that they have entered into an arrangement agreement pursuant
to which Sundial will acquire all of the issued and outstanding common shares
of Inner Spirit for total consideration of approximately $131 million. The
combined company will continue to focus on providing quality cannabis to
consumers through a responsible and disciplined approach while creating
enduring value for shareholders.
Under the terms of the
Agreement, Inner Spirit's shareholders will receive, for each Inner Spirit
common share held, (i) $0.30 in cash and (ii) 0.0835 of a Sundial common share
(representing $0.09 per Inner Spirit common share based on the 10-day
volume-weighted average price ("VWAP") of Sundial common shares on
the Nasdaq Capital Market), for total consideration of $0.39 per Inner Spirit
common share. The purchase price of $0.39 per Inner Spirit common share
represents a premium of 54.8% to the 10-day VWAP of Inner Spirit common shares
on the Canadian Securities Exchange (the "CSE") and a premium of
62.5% to the closing price of Inner Spirit common shares on the CSE on May 4,
2021. The Transaction has been unanimously approved by the Boards of Directors
of Sundial and Inner Spirit and is expected to close early in the third quarter
of 2021.
The Transaction is
expected to provide modest synergies and economies of scale due to the
different business models of Sundial and Inner Spirit.
"Sundial becomes
a stronger and more diverse cannabis company by acquiring Inner Spirit and the
Spiritleaf retail store network," said Zach George, Chief Executive
Officer of Sundial. "Inner Spirit has successfully created a
franchise-based retail network that has grown from coast to coast and offers a
differentiated and premium in-store experience to consumers. Our shared
Albertan roots and commitment to data-driven consumer insights make for an
ideal partnership. Sundial's capital base will enable us to support continued
expansion and deepen the capabilities of the Spiritleaf retail brand."
"Sundial is the
ideal company to acquire Inner Spirit and support the future development of the
Spiritleaf retail cannabis brand," said Darren Bondar, Founder, President
and Chief Executive Officer of Inner Spirit. "The Sundial team has shown a
strong commitment to our management team, franchise partners and employees as
well as our growth ambitions. The combination will enable us to further expand
our position as the country's leading retail cannabis brand for customers and
communities and will open up new market opportunities to us. We're also very
pleased Inner Spirit shareholders will be able to participate in our future
success through an ongoing equity ownership."
In just over two
years, the Spiritleaf retail network has grown to become Canada's largest
single brand retailer with 86 stores operating in British Columbia, Alberta,
Saskatchewan, Ontario, and Newfoundland and Labrador. Spiritleaf's franchised
and corporate stores have created deep ties within their local communities and
served 2.3 million guests in 2020. The retail brand has earned a reputation as
a knowledgeable and trusted source of recreational cannabis while offering a
premium consumer experience. Spiritleaf opened its 86th store on April 28, 2021
in Edmonton, Alberta and is projected to exceed the 100-store milestone in the
summer of 2021.
SpeakEasy Cannabis Club Ltd. (CSE:
EASY), a holder of a federal licence to
cultivate, process and sell cannabis under the Cannabis Act announced it is 4 months into a 6-9 month application process to
receiving its Narcotics Dealers License ("NDL") in-order to develop
and standardize psilocybin cultivation.
A NDL licenced dealer may produce, assemble, sell, provide, transport,
send, deliver, import or export a controlled drug (psilocybin) if they comply
with the terms and conditions of their dealer's licence and any permit issued
under the licence.
In early January this
year, SpeakEasy began the application process for an NDL and a section of
SpeakEasy's processing building has been earmarked as the location for the
research and development area that would house a licence referred to as an NDL.
The NDL allows research, development, purchase and sales among other activities
of narcotics. SpeakEasy's intent is to acquire a full catalogue of psilocybin
bearing mushroom genetics in-order to develop cultivation methods, standardize
potency and develop extracted concentrated products in preparation and with the
expectation of the legalization of psilocybin in the Canadian market. SpeakEasy
expects to complete the extensive review process and receive its NDL later this
year with the total licencing process taking between six and nine months. Upon receipt, the Company intends to immediately
begin the process of preparing for the anticipation of the legal market.
Founder Marc Geen
states, "Agriculture has always been
the core of SpeakEasy's business and psilocybin production is not much
different. Commercial mushroom production is very similar to cannabis
production, especially considering both are controlled substances and likely
will fall under a similar set of regulations. We are in a great position to be
able to be at the forefront of the growing psilocybin market and also apply
SpeakEasy's farming knowledge to the production of magic mushrooms adding
efficiency, high-quality production at an economical costs of production."
Compelling evidence of
the therapeutic benefits of psychedelic drugs appears in multiple scientific
studies. Several clinical trials are underway in the United States and
worldwide to investigate the therapeutic effects of psilocybin, the active
component in the fungi known as "magic mushrooms." There is new hope
for treating debilitating disorders such as depression, anxiety, post-traumatic
stress disorder, anorexia, obsessive-compulsive disorder, and addictions.
Multiple efficacy studies going on around the world in areas that encompass
life-disrupting psychiatric and neurological conditions such as major
depressive disorder (MDD), addictions, and other mental illnesses. A successful
outcome could completely upend treatment protocols(2).
Trulieve Cannabis Corp. (CSE:
TRUL) (OTCQX:
TCNNF), a leading and top-performing cannabis
company in the United States, announced the closing of the acquisition of Mountaineer Holding LLC.
Total transaction
consideration was $6 million satisfied through the payment of $3 million in
cash and by the issuance of 60,342 subordinate voting shares of the Company.
Stock price was based on 10-day VWAP from the last trading day before signing.
Trulieve CEO Kim
Rivers stated, "We are pleased to complete this transaction quickly as the
addition of Mountaineer achieves a significant presence for us in West
Virginia. Our teams have already been at work in the state and adding
Mountaineer to our portfolio provides significant potential for depth and
scale. We look forward to serving West
Virginia patients, and expect to be operational before the end of 2021."
As previously
announced, the Mountaineer acquisition positions Trulieve for vertical
operations in West Virginia. The Mountaineer business consists of a cultivation
permit and two dispensary permits in West Virginia. This transaction further extends and
strengthens Trulieve's national expansion with the ability for a full-scale
operation in a new medical marijuana state.
The Good Shroom Co Inc. (TSXV:
MUSH), a Quebec based company that created
and manufactures functional beverages under its two brands: Teonan® and
Velada™, announced that it has entered into a private labelling agreement with
Good Food Market Corporation pursuant to which it will manufacture and deliver
three distinct functional beverages, starting this year. TGSC's private labelling initiative is part
of a two-pronged approach to solidify its position in the growing functional
mushroom industry by focusing on building its own brands and by selling and
supplying privately labelled products to other companies.
"This
introductory order of 3,000 units will allow us to establish a relationship
with Good Food and we expect, will lead to additional ongoing orders of at
least 15,000 units per product in line with the terms of our two year
contract." stated Eric Ronsse, the Chief Executive Officer, "In
addition, with the recent cash injection that followed the completion of the
Company's qualifying transaction, we expect to accelerate certain initiatives
for both of the Company's mushroom-based beverage lines: the Teonan and the
Velada brands.
Functional mushrooms
are packed with nutrients and for thousands of years, fungi were relied on for
nourishment and their medicinal benefits.
In recent years, renewed interest by the scientific community led to
numerous studies showing their overall health benefits and unsurprisingly,
mushrooms are making an important comeback; the global functional mushroom
market is expected to grow annually by 9% for the next three years and is
expected to reach US$34B by 2024."
Once again, today’s podcast is sponsored by Phyto Extractions Inc. (CSE:XTRX), an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.
Investor ideas reminds all
listeners to read our disclaimers and disclosures on the Investorideas.com
website and that this podcast is not an endorsement to buy products or services
or securities. Investors are reminded all investment involves risk and possible
loss of investment.
Learn more about
our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
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