Investor Ideas #Potcasts
582, #Cannabis News and #Stocks on the Move; Happy Canada Day! (TSX: $VFF.TO)
(NASDAQ: $VFF), (OTCQX: $MRCQF), (NASDAQ: $CGC) (TSX: $WEED.TO)
Delta, Kelowna, BC, July 1 2021 (Investorideas.com Newswire) www.Investoride, as.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/2021/070121-StocksToWatch.mp3
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at https://www.investorideas.com/news/2021/cannabis-potcasts/07011VFF-MRCQF-CGC-WEED.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 and private company announcements.
Village
Farms International, Inc. (TSX: VFF) (NASDAQ: VFF) today announced that its wholly owned subsidiary, Pure
Sunfarms, Canada's premiere cannabis cultivator and brand, has received from
Health Canada an amendment to the cultivation license for its 1.1 million
square foot Delta 2 greenhouse facility, permitting Pure Sunfarms to cultivate
cannabis immediately in the half of the Delta 2 facility for which conversion
to cannabis production has been completed.
Under the License Amendment, Pure Sunfarms is also permitted to begin
cannabis production in the remaining half of the Delta 2 facility when
conversion of that half of the facility for cannabis production has been
completed.
The amendment to the Delta 2 cultivation
license immediately increases Pure Sunfarms' total cultivation capacity to 1.65
million square feet, all of which is at a single location in Delta, British
Columbia. Pure Sunfarms expects to begin
planting in the completed half of the Delta 2 facility in September of this
year, with the first harvest expected in November of this year. Pure Sunfarms expects to further increase its
cultivation capacity to 2.2 million square feet during the second half of 2022
upon completion of the conversion of the remaining half of the Delta 2 facility
for cannabis production.
"As many licensed producers in
Canada scale back operations, we are proud and excited to be significantly
expanding production to meet the expected continued growth in Pure Sunfarms'
retail branded sales, driven by Pure Sunfarms' leading brand market share in
dried flower against the backdrop of the overall growth in the Canadian market,
as well as additional opportunities that we are pursuing both within Canada and
in international markets," said Michael DeGiglio, CEO, Village Farms.
"Pure Sunfarms has delivered three consecutive quarters of 20 percent or
greater growth in retail branded sales, and during the first two months of the
second quarter of 2021 was once again the top-selling brand of dried cannabis
in Canada's largest provincial market, as it has been in every quarter since it
launched its retail branded products in the fourth quarter of 2021."
Mr. DeGiglio added, "With this
expansion, we expect to benefit from additional economies of scale and other
efficiencies that will further support our unique ability to not only offer
premium quality cannabis products at an everyday price but to do so while
consistently generating profitability.
As it has done with the existing Delta 3 facility, which is currently
operating at full production, Pure Sunfarms will prudently deploy Delta 2's
production capacity to meet sales demand while continuing to effectively manage
inventory levels."
GH
Group, Inc., one of the fastest-growing, vertically integrated
cannabis and hemp companies in the U.S., announced the completion of its business
combination with Mercer Park Brand
Acquisition Corp. (NEO: BRND.A.U) (OTCQX: MRCQF), a special purpose acquisition
company (SPAC), to create Glass House
Brands Inc., with the intent to focus on branded product businesses in
cannabis and/or cannabis-adjacent industries. The subordinate, restricted and
limited voting shares and warrants of Glass House are approved for listing on
the NEO Exchange under the symbols "GLAS.A.U" and
"GLAS.WT.U", respectively. Trading will commence on July 5, 2021.
"With one of the strongest
retail and wholesale networks in our industry combined with best-in-class
cultivation processes and our scaled and highly efficient cost structure, we
are exceptionally well-positioned to capitalize on the growing statewide and
national consumer packaged goods ("CPG") opportunity," said Kyle
Kazan, Glass House Chairman and CEO. "We look forward to leveraging our
leadership position in California to introduce high-quality, sustainably grown,
craft cannabis to the market to support the health and enjoyment of our consumers,
as well as our environment and our community."
Graham Farrar, President of Glass
House added, "This is a significant milestone for our business, and I
would like to thank all of our employees, the entire Mercer Park team, our
shareholders, and our advisors for their efforts in making this transaction a
success. We have brought together some of the strongest operators and assets in
our industry to lead the world's largest cannabis market by consolidating
additional brands and bringing them to scale to deliver strong value for our
shareholders."
David Culver, Vice President of
Global Government Relations at Canopy
Growth Corporation (NASDAQ: CGC) (TSX: WEED), issued the following statement
regarding Mexico’s Supreme Court striking down laws which criminalized the
recreational use of cannabis:
“Canopy Growth applauds Mexico’s
Supreme Court for striking down the prohibition on recreational adult-use
cannabis. This landmark decision paves the way for Mexico to end injustices
caused by the criminalization of cannabis. Canopy also joins the court in
urging Mexico’s lawmakers to finalize and pass legislation that provides legal
certainty and establishes a responsible, constructive cannabis marketplace.
In an 8-3 ruling Monday, Mexico’s Supreme Court declared unconstitutional the prohibition of recreational
marijuana use in Mexico, clearing a path to legalization.
Mexico’s lower house passed a
legalization bill in March, but it is still awaiting legislative approval in a
gridlocked Senate. The decisive court ruling, clearing legal obstacles, could
push lawmakers to finalize the legislation.
“Today is a historic day for
liberties,” court president Arturo Zaldívar said in a video after the ruling. “The right to free
development of the personality is consolidated in the case of ... recreational
use of marijuana.”
Cartel
Blue, Inc.
and Cartel, Inc., a Delaware Corporation founded in 1998, announced it will increase its business
operations in Mexico for expansion of its product lines.
Cartel Inc. announced expanded product
strategies after the Supreme Court of Mexico ruled for decriminalization and
legalization of recreational Cannabis and Hemp in Mexico on June 30, 2021.
Addressing its expansion strategy, the company previously obtained Trademarks
in Mexico which were approved. All the company’s products and processes,
including Cartel Accessories, hemp cultivation and approval of its line of
hemp-hip-hop-clothing sold under the brand “Cartel Blue”, are a part of this
implementation. Cartel Inc. and Cartel Blue, Inc. have secured purchase orders
for pre-rolled “Premium Mini Hemp Cigars” for August 1, 2021, delivery under
all Mexico Licensing guidelines.
Cartel
Blue, Inc. is the first and only hemp Apparel company listed on the
Major Marijuana | Hemp Stock Index.
As the move into Mexico and a planned move
into other countries are anticipated, it was determined by Cartel Inc.
management to earlier make a name change which aligns with a global branding
strategy for its products.
This announcement coincides with an
Agreement between Cartel Inc., and Maui Third Wave, Inc of Kihei, Maui, Hawaii
to purchase HINA Organic Hemp grown in the rich volcanic soil of the island.
This agreement marks a significant date in the history of Cartel Inc., as it
will be producing quality Mini Hemp cigars packaged for immediate sales in
Hawaii, the Mainland, and through the newly announced chain of Cartel Cigar Lounges
in selected hotels and specified venues. Nashville, Tennessee will be home to
the very first Cartel Cigar Lounge, which will be owned and operated in a
Licensing Agreement between Cartel Inc., and Music City Botanicals, of
Nashville. Further information is available through Investor Relations at
Cartel Inc.
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.
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