Investor Ideas #Potcasts
577, #Cannabis News and #Stocks on the Move; (NEO: MEDI) (OTC: $KONEF), (CSE: $YOOM.C)
(TSXV: $MUSH.V)
Delta, Kelowna, BC, June 18, 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/2021/061821-StocksToWatch.mp3
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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.
The
Good Shroom Co Inc. (TSXV:
MUSH), announced that
its wholly owned subsidiary, Teonan Biomedical Inc., has received authorization
from Health Canada to commence the sale and the distribution of its beverages
which are Canada's first cannabis infused beverage line made with functional
mushroom extracts.
Teonan holds a micro-processing
license delivered by Health Canada under the Cannabis Act, which allows it to manufacture and develop topicals,
extracts and edible cannabis products which includes beverages. Before sales of
the Velada beverages could commence, Teonan was required to demonstrate its
finished products and quality control procedures complied with Health Canada's
strict guidelines. Teonan's micro-processing license was amended by Health
Canada allowing it to distribute the Velada products nationwide, through
various provincial retailers, including the Société Quebecoise du Cannabis
(SQDC) which is Canada's largest provincial cannabis retailer. A
micro-processing license has an annual cannabis extract processing limit of
150,000,000 mg per year. With Health Canada's limit of 10 mg of THC per unit,
this equals up to 15,000,000 units containing THC which can be sold yearly. The
Company has strategically chosen a micro-processing license instead of a
standard processing license due to the high cannabis processing limit with the
reduced cost associated to maintaining this type of license.
Velada is the first mushroom-based
instant wellness beverage in Canada which contains cannabinoids. The beverage
mixes which come in powdered form are vegan, dairy free, GMO free, gluten free
and all contain 100 mg of functional mushroom extracts and a 30 mg dose of CBD
per serving. The Company will also be offering a low THC version of the
beverages with a 2:1 CBD:THC ratio for optimal effectiveness, with 4.5mg of THC
and 9 mg of CBD per serving in order to have an expanded and versatile offering
to appeal to a wider variety of customers. Flavours available for distribution
include hot chocolate, coffee and golden milk latte. The Company anticipates
expanding the Velada product line with additional flavours and products
following market response and emerging industry trends. This authorization to
begin sales also allows the company to initiate its agreement with its sales
broker Velvet Management Inc., Canada's leading cannabis sales agency, which
represents the company across Canada.
"We have been eagerly awaiting
this authorization and we are ready to move forward" stated Eric Ronsse,
the Chief Executive Officer of TGSC. "With relatively few established
beverage suppliers and high barriers to entry, we expect the quality of our
product, the variety of the offering and attractive price point, will allow us
to capture a share of the market and build a strong and loyal consumer
base." In Canada the
cannabis-infused beverage market is estimated at $529 million per year.
In connection with the receipt of
the authorization, the Company will issue 1,000,000 common shares to Mr. Scott
Jardin, it's Chief Financial Officer, as per the terms of a performance share
agreement entered into in September 2020. Under the Agreement, Mr. Scott is
entitled to receive 1,000,000 common shares upon receipt of all regulatory
permits and authorizations required for the commercialization of the Velada
products. Mr. Jardin can earn additional
tranches of common shares (maximum of 2,000,000) when the Company reaches
targeted sales for the Velada products in the next 12 months. All shares issued
pursuant to the Agreement are subject to a hold period until April 15, 2022, in
addition to the escrow requirements of policy 5.4 of the TSX Venture Exchange
which provides for a release over 36 months starting April 26, 2021 (please see
Filing Statement available at www.sedar.com
for details on the agreement and escrow release schedule).
Yooma
Wellness Inc. (CSE:
YOOM), a Toronto-based vertically integrated global
wellness platform that develops and markets a portfolio of wellness brands, today
announced that it will be discontinuing its operations in China,
effective immediately.
The decision comes after China's
National Medical Products Administration (NMPA) added CBD to its "List of
Prohibited Use Cosmetic Ingredients" on May 28th, 2021. Beijing proposed the new legislation in
March, with the China National Institute for Food and Drug Control inviting
comments and suggestions from industry participants on its plans to list
cannabis sativa and CBD as prohibited components of cosmetics. As a result of this announcement, a number of
online marketplaces, including those which Yooma has historically relied on to
distribute its CBD wellness products, have restricted promotion and marketing
efforts for CBD products, such as keyword and traffic generating tools,
platform events and live streams.
"The government's decision to
ban the use of CBD and other cannabinoids in cosmetics eliminates the progress
made by Yooma in selling CBD skincare and beauty products to Chinese
consumers," said Lorne Abony, Chairman of Yooma. "However, we do not
anticipate this change will lead to any revenue shortfall for Yooma this year,
as the company is experiencing significant growth in other markets which has
exceeded our expectations, and we expect any longer-term impact on Yooma's
business to be minimal as we focus more of our attention on these other
promising markets."
Yooma also announced today that CEO
Ron Wardle will be leaving the company.
Jordan Greenberg, who has been serving as President and CFO of the
company, has been appointed by the board as the new CEO, effective immediately. Joshua Lebovic has been appointed by the board
as interim CFO.
KetamineOne
Capital Limited (NEO:
MEDI) (OTC:
KONEF), a company focused on consolidating medical clinics
and becoming a North American leader in mental health treatments and associated
research,
provided guidance on several new strategic initiatives on
behalf of its wholly-owned contract research organization, KGK Science Inc. KGK
is rapidly being integrated into Ketamine One’s mental health platform,
accelerating the ability to foster value creation through the Company’s clinic
portfolio, grow its work with existing third-party clients and establish a
leadership position in psychedelic research and clinical trial work. Being at
the forefront of psychedelics research strongly positions Ketamine One and KGK
to generate defendable intellectual property and secure first mover advantages.
Further, the Company is pleased to report that KGK has recently been awarded a
new clinical trial contract, a research project and has also completed two
studies.
Psychedelic Research Highlights:
● Working
with five unique clients in psychedelic drug studies including but not limited
to Numinus (TSXV:
NUMI) and Psyched Wellness (CSE:
PSYC).
● Conducting
two ongoing clinical trials, one of which is the previously announced
preliminary study of Numinus’ proprietary psilocybin mushroom extract in
healthy adults.
● Developing
a network of vertically-integrated clinics within Ketamine One for the conduct
of psychedelic clinical trials. This will be a critical step in it achieving
its goal of becoming the premier CRO in the psychedelic medicine industry and
integrating with Ketamine One’s clinical assets.
● Collaborating
with Zentrela, the maker of the Cognalyzer™, to adapt the device for use in
psychedelic medicine with the goal of providing the sector with a revolutionary
tool to be used in human research and the clinical application of psychedelic
drugs.
● Improving
virtual trial conduct through the implementation of a novel platform and
technology with the other subsidiaries of Ketamine One, which is expected to be
launched over the next year.
● Working
with the Ontario-based contract manufacturer Acenzia to provide a joint
solution for the production and study of psychedelic compounds and final
products. Acenzia plans to produce psychedelic mushrooms as well as formulate
and manufacture psychedelic products at their EU GMP-accredited facility.
New
Proposals, Recent Wins and Completed Work:
● Emerging
from COVID-related restrictions, KGK is seeing significant growth in new
projects and requests for proposals, including a substantial expansion in psychedelics-related
work. Requests for proposals and other quotes have increased by almost 60 per
cent over the past 12 months as compared to the same prior period.
● Recently
awarded a clinical testing trial for two novel human milk oligosaccharides
produced by a large Japanese firm.
● Contracted
to facilitate preclinical studies of a novel vitamin ingredient, the results of
which are planned to be used to support the submission of a New Dietary
Ingredient Notification to the US FDA.
● Anticipated
to complete a clinical trial investigating the efficacy of a multi-ingredient
formulation on self-reported memory complaints in healthy adults in the fall of
2021. KGK has extensive experience in conducting clinical trials in the areas
of cognition and stress and plans on pursuing more work in this growing area of
research.
● Year to
date, completed two pharmacokinetic clinical studies for nutraceutical
products.
“KGK
was ahead of its time when it started in the Natural Health Products industry
over 24 years ago by working with clients to provide evidence of safety and
efficacy in an industry that heavily relied upon testimonials. It was the first
to offer these services on a one-stop-shop basis, which speaks to innovative
roots of KGK,” said Najla Guthrie, President & CEO of KGK. “Five years ago,
we successfully extended our clinical work into the cannabis space, becoming
one of the first experts in the cannabis research field. And since 2020, our
business has broadened its focus yet again to include psychedelic research and
working with companies to develop their pathways to market, regulatory
strategies and pre-clinical safety work. As a result of Ketamine One’s existing
clinical platform and KGK’s complementary research capabilities, we are well
positioned to capitalize on the inflow of capital and talent to
psychedelics-focused companies,” added Ms. Guthrie.
Lastly,
in recent
news Cannabis retailers in British Columbia can start
delivering recreational cannabis products to their customers beginning next
month.
The B.C.
government announced yesterday that all licensed non-medical cannabis sellers
will be permitted to deliver their products starting July 15.
The
Ministry of Public Safety and Solicitor General says it’s another reason for
cannabis consumers to “go legal” when buying cannabis in B.C.
“Since
the federal legalization of non-medical cannabis, we’ve been working to support
a strong and diverse cannabis industry, shrink the illicit market and keep
products out of the hands of children and youth,” said Mike Farnworth, Minister
of Public Safety and Solicitor General, in a statement Thursday.
“Allowing
direct delivery to consumers isn’t just an advantage retailers have told us is
vital to the viability of their sector, it’s also a way we can further our
public safety goals,” Farnworth added.
The
announcement follows the government’s decision last August to allow cannabis
retailers to sell their products online.
Only
adults will be allowed to receive cannabis delivery orders, and anyone who
appears to be under 19 years old will have to present two pieces of
identification, the province says.
The
customer will not have to be a resident at the address or the person who placed
the order. However, they will have to provide their name and signature to take
delivery.
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