Investor Ideas #Potcasts
579, #Cannabis News and #Stocks on the Move; (NEO: HALO) (OTCQX: $HCANF), (CSE:
$RYAH.C), (CSE: $AUSA.C), (TSX: $WEED.TO) (NASDAQ: $CGC), (TSX: $TGOD.TO)
Delta, Kelowna, BC, June 23, 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.
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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.
RYAH
Group, Inc. (CSE:RYAH) announced that it
has completed an initial shipment of its proprietary RYAH Smart Dry Herb
Inhalers for use in a pilot study to be conducted by Medicann in Jersey, the
largest of the Channel Islands, located between England and France. Medicann is
a premier cannabis-specialized clinic, providing patients with access to local
specialist doctors and pharmacists that have experience prescribing
cannabis-based medication. Medicann is launching an observational study using
RYAH Smart Dry Herb Inhalers in order to collect patient feedback on
consumption of cannabis strains available on the Island, including strains
supplied by Aurora Europe, a subsidiary of Canadian-headquartered Aurora
Cannabis Inc., a global leader in the cannabis industry serving both medical
and consumer markets and dedicated to helping people improve their lives.
In addition to the pilot program,
the parties are working toward an exclusive, definitive supply and distribution
agreement, which, if entered into, is expected to position Medicann as the sole
supplier and distributor of the RYAH Smart Dry Herb Inhalers in the region.
Jersey, Channel Islands, which is
known to have one of the highest GDP per capita in the world, is a British
dependency island ideally situated in the English Channel off the coast of
France. In 2019, the island's economy grew by 2.1% in real terms to £4.97
billion.
By 2024, the medicinal cannabis
market within the United Kingdom is predicted to be worth nearly US$1.3
billion, servicing nearly 340,000 active patients. According to a report by the
United Nations International Narcotics Control Board, the U.K. has emerged as
the largest supplier of medicinal cannabis in the world. The European cannabis
market is forecast to grow with a compound annual growth rate (CAGR) of 67.4%
to reach 3.2 billion euros ($3.75 billion) by 2025.
"We are excited to be
initiating our pilot program with Medicann in Jersey, which represents a unique,
‘ring-fenced’ environment for establishing potentially numerous studies on the
efficacy of treatments using plant-based therapies. RYAH is pleased to
contribute RYAH’s IoT devices and data platform and work with Medicann toward
perfecting prescribing practices and dosing regimens,” said Gregory Wagner, CEO
of RYAH Group, Inc.
Australis
Capital Inc. (CSE:
AUSA) (OTC:
AUSAF)
today announced that the Company going forward will
operate under the name Audacious Brands. The Company also provided a corporate
update.
The Company has decided to rename
its operations focused on the U.S. adult use market to Audacious Brands
("Audacious" or the "Company"). The Company's ticker symbol
will remain AUSA on the CSE and AUSAF on the OTC. The Company will consolidate
its brands under the new Audacious banner, as well intends to launch additional
products lines under the new name. A full and official brand launch is
anticipated in the coming months.
"Audacious as a name for our
adult use operations is a much better reflection of our corporate culture and
how we execute and operate," said Terry Booth, CEO. "Audacious stands
for doing things differently, courageously breaking with tradition, being bold,
brave and confident. As a Company, we are executing on a unique strategy that
is very difficult to emulate, while at the same time de-risking our operations.
In an increasingly fragmented market with largely converging strategies, it
takes an audacious company to stand out. This is who we are, and this is how we
operate. The new name also better reflects our motto to ignite, delight and
excite our shareholder base and the customers enjoying our products."
Audacious also reported that the
operation in Missouri, which the Company is acquiring as part of the Green
Therapeutics transaction, has received its license to operate. Once the license
transfer is complete, Audacious will own 25% of a processing and manufacturing
license.
The Missouri operations comprise an
8,000 square foot facility for extraction and manufacturing, including a
complete solventless extraction line, the current industry benchmark for
high-end quality, with an initial capacity to extract approximately 100 lbs per
day of raw material. The facility will allow for the expansion of the multiple
award-winning Tsunami brand to penetrate the Missouri market. A final
inspection was successfully completed, and the Missouri operation has received
its license to operate. Sales are anticipated to commence within the next 45
days.
Missouri is a medical market that
has been operational since October 2020. The Missouri market is anticipated to
reach $225-$300 million for 2021, and is anticipated to show continued strong
growth to $500-$625 million by 2025 (Marijuana Business Factbook 2021). To date
25 manufacturing licenses have been approved to operate. Further licensing is
currently capped.
Dr. Duke Fu, COO commented,
"Missouri is one of the hardest U.S. markets to enter, with a capped
license regime, which makes it a highly attractive jurisdiction to operate in.
Our partners are well known within the home healthcare market in Missouri,
which should greatly boost our competitive position with healthcare
professionals. We are in talks with several dispensaries for product
placements, as well as are in talks with highly regarded out-of-state brands
that are looking at us for white labelling to enter this attractive market. We
are excited that we can now commence our operations and look forward to serving
the medical market in Missouri with consistent, high-quality product."
The Company has also completed the
acquisition of a 23-acre plot of land, which Audacious intends to become a hub
for multiple operators covering the industry value chain from cultivation to
extraction and manufacturing. In addition, the Company has acquired the last
remaining water rights in this area, providing a substantial advantage in
securing partners for development of this envisaged project.
Mr. Booth, commented, "The
Sandy Valley land has great potential for us to develop our multi-operator
cannabis hub. In line with our capital light expansion strategy, we intend for
ALPS to assist third party operators, be they cultivators, processors or
manufacturers, in building their facilities, in exchange for a percentage of
capacity to grow our own cultivars and manufacture our products. While through
Green Therapeutics we already are a leading operator in the state, growth has
been limited through lack of high-quality cannabis. This initiative, in addition
to our other moves in the state, as announced recently, will change that. We
are already in talks with a number of highly interested parties to realize our
vision, on which we will report more in the coming months."
Halo
Collective Inc. (NEO:
HALO) (OTCQX:
HCANF), a vertically integrated multinational cannabis
company, announced that
its board of directors has unanimously approved the reorganization of its
non-U.S. operations, Bophelo Bioscience & Wellness Pty. Ltd. and Canmart
Ltd., into a newly formed Alberta corporation called Akanda Corp. Akanda will
be led by accomplished cannabis and corporate finance and banking industry executive
Tej Virk.
Akanda will combine the scaled
production capabilities of Bophelo, Halo's Lesotho-based cultivation and
processing campus, located in the world's first Special Economic Zone (SEZ)
containing a cannabis growth operation, with distribution and route-to-market
through Canmart, Halo's UK-based fully approved pharmaceutical importer and
distributor which supplies pharmacies and clinics within the UK. With a
potential maximum licensed canopy area of 200 hectares, Bophelo has scalability
that is arguably unmatched in the world today.
"The separation of Halo's U.S.
and international businesses through the formation of Akanda is the right
initial step to capitalize on the significant growth opportunities in global
cannabis markets and to unlock significant unrealized value for all of Halo's
stakeholders," said Kiran Sidhu, CEO and Co-Founder of Halo. "Akanda,
with a unique strategy and scaled assets, will be positioned to be the low cost
supplier of high quality and ethically sourced medical cannabis products to the
fast-growing African, UK, European, and other international markets. I am
excited to support Tej and Louisa as they build Akanda into a world-class
company, leveraging Halo's trusted cannabis brands, technology, and
know-how."
Tej Virk will join Akanda as CEO
from Khiron Life Sciences, where he
was President and Managing Director, Europe, establishing Khiron's medical and
consumer packaged goods business in the region. Prior to his time at Khiron,
Virk was Managing Director, Europe, for Canopy
Growth Corporation, where he was responsible for driving the multinational
expansion of Canopy's European operations. Working with top research doctors in
the UK, Spain, and Germany, he has overseen the launch of multiple medical
cannabis products in Europe, including flower for inhalation and oils. Virk has
extensive cannabis sector M&A experience and has transacted on numerous
IPOs and follow-on capital raises for global cannabis companies, including
Canopy and Tilray. At the beginning
of his career, Virk spent 15 years in investment banking and capital markets at
BMO Financial Group.
"Akanda has the potential to be
a truly great international medical cannabis company, cultivating high quality
and ethically sourced cannabis at scale, leveraging trusted brands, at the
industry's lowest cost. It is a special honor to be joining Akanda as its first
CEO and I do so with an equal sense of excitement and responsibility,"
said Tej Virk, CEO and Director of Akanda.
The Green Organic
Dutchman Holdings Ltd. (TSX:
TGOD) (OTC:
TGODF), a leading producer of premium certified organically
grown cannabis, announced that
its wholly owned Quebec subsidiary Medican Organic Inc. has completed the
previously announced sale of the majority of its assets in Valleyfield, Quebec,
including all industrial and agricultural land, main hybrid greenhouse, rooftop
greenhouse, all support buildings and certain related equipment, to Cannara Biotech Inc. for the $27 million
purchase price contemplated in the purchase and sale agreement relating to the
Transaction. In addition, Medican
received a $5.7 million deposit refund from Hydro-Quebec.
Concurrent
with the closing of the Transaction, TGOD repaid approximately $31.8 million to
its senior lender to settle all of its outstanding obligations and terminated
the loan agreement with such lender.
As
also agreed to with the Purchaser, Medican entered into a lease with the
Purchaser concurrent with the closing of the Transaction, for approximately
80,000 square feet of cultivation and processing space in the Quebec Facility.
BMO
Capital Markets acted as exclusive representative and financial advisor to the
Company in connection with the Transaction, and Langlois Lawyers LLP acted as
TGOD's legal counsel.
Canopy
Growth Corporation (TSX:
WEED) (NASDAQ:
CGC)
and The Supreme Cannabis Company, Inc.
(TSX:
FIRE) (OTCQX:
SPRWF) announced the
completion of the previously announced arrangement whereby Canopy has acquired
all of the issued and outstanding common shares of Supreme.
As Canopy continues to focus on the
premium flower segment, the addition of 7ACRES and the 7ACRES Craft Collective
enhances Canopy's leading market share position and supplements its production
capacity through the acquisition of Supreme's low-cost, scalable cultivation
facility in Kincardine, Ontario. This facility has a proven capability for
producing high-quality flower from sought-after strains that have earned
Supreme's brands their loyal consumer followings. Additionally, the acquisition
of Supreme further strengthens Canopy's overall leadership position within the
Canadian recreational market and creates a pro forma Q4 FY 2021 market share of
18.1%1. Furthermore, the acquisition creates the opportunity for immediate
value creation with an estimated $30 million in synergies to be captured within
the next two years.
"Through the addition of
Supreme, we're strengthening our leadership position by offering Canadian
consumers a differentiated brand portfolio – including the addition of 7ACRES,
which further bolsters our premium product segment," said David Klein,
Chief Executive Officer of Canopy. "Supreme has demonstrated the ability
to cultivate premium quality flower at low cost and we're excited to leverage
these capabilities to further our leadership in the Canadian market as we scale
these newly added brands and accelerate revenue growth."
"We believe the acquisition of
Supreme by Canopy represents the best path forward for Supreme's shareholders
to generate long-term value," said Beena Goldenberg, Chief Executive
Officer of Supreme. "We are proud to have built an attractive company with
high-quality, sought-after premium products and brands. We feel joining with
Canopy – a leader in the Canadian recreational market – is aligned with our
ultimate goal of becoming a premier cannabis CPG company."
As a result of the Arrangement,
Supreme has become a wholly-owned subsidiary of Canopy and the Supreme Shares
are anticipated to be de-listed from the Toronto Stock Exchange on or about
June 23, 2021.
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