Investor Ideas #Potcasts: #Cannabis News and #Stocks on the Move (TSX:
$WEED.TO) (NYSE: $CGC) (TSXV: $RIV.V) (TSX: $TRST.TO) (TSXV: $WL.V)
Also featured in today’s potcast – (TSXV: $HVT.V) (CSE: $HITI.C)
(TSXV: $META.V) (TSXV: $FAF.V)
Delta, Kelowna, BC –July 3,
2019 (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 edition of Investorideas.com potcastsCM -
cannabis news and stocks to watch plus insight from thought leaders and
experts.
Listen to the podcast:
Read this in full
at https://www.investorideas.com/news/2019/cannabis-potcasts/07031WEED-CGC-RIV-TRST-WL.asp
Today’s podcast overview/transcript:
Good
afternoon and welcome to another episode of Investorideas.com “potcasts”,
looking at cannabis news, stocks to watch as well as insights from thought
leaders and experts.
Today we are looking at a few early
announcements.
Canopy Growth Corporation (TSX:
WEED) (NYSE:
CGC) and Bruce Linton announced that
Bruce will step down as co-CEO and Canopy Board member. Mark Zekulin has agreed
to become the sole CEO of the company and will work with the Board to begin a
search to identify a new leader to guide the company in its next phase of
growth, which will include both internal and external candidates. Rade
Kovacevic, a long-serving member of the team currently leading all Canadian
operations and recreational strategy will assume the role of President. These
changes are effective immediately.
"Creating Canopy Growth began with
an abandoned chocolate factory and a vision," said Linton. "The Board
decided today, and I agreed, my turn is over. Mark has been my partner since
this Company began and has played an integral role in Canopy's success. While
change is never easy, I have full confidence in the team at Canopy – from Mark
and Rade's leadership to the full suite of leadership – as we progress through
this transition and into the future."
"We thank Bruce and Mark for
establishing the foundation for a company that is very well-positioned to lead
in the emerging global cannabis market," said Canopy Growth board
director, David Klein. "We are also excited to embark upon our next phase
of growth as global leader in the cannabis industry."
Canopy Growth has experienced rapid
growth since being founded in 2013, establishing leading positions in Canada's
medical and recreational cannabis markets and building an emerging presence in
a number of additional markets around the world. The company recently received
a $5 billion (CAD) investment from Constellation Brands, a leading beverage
alcohol company, which provides a significant benefit as Canopy continues to
establish a first-mover advantage in the quickly evolving global cannabis
market.
"While Canopy will never be the same
without Bruce, the team and I look forward to continuing to do what we have
done for the past 6 years: investing in world class people, infrastructure and
brands, and always seeking to lead through credibility and vision," said
Zekulin. "I personally remain committed to a successful transition over
the coming year as we begin a process to identify new leadership that will
drive our collective vision forward. I know the company will continue to thrive
as the Canopy story continues on for years to come."
The Board has also appointed John Bell as
its Board Chair, to be reviewed at the Board's annual meeting in September when
new board members are elected. Bell has served on the board as lead director
for 5 years.
Further to Canopy Growth Corporation's
press release today, Bruce Linton has
also stepped down as Chairman and Director of Canopy Rivers Inc. (TSXV:
RIV) (OTC:
CNPOF), effective immediately. Canopy Rivers'
board of directors and executive team would like to thank Mr. Linton for his
contributions to the Company through the early development of the global
cannabis sector.
"We are grateful for all of the
contributions that Bruce made to both Canopy Rivers and to the cannabis
industry as a whole," said Narbe Alexandrian, President and CEO of Canopy
Rivers. "As we enter the next chapter of our Company's history, we are
excited to continue working with Canopy Growth."
CannTrust Holdings Inc. (TSX:
TRST) (NYSE:
CTST) announced an
update on its outdoor cultivation operations in British Columbia and its first
shipment of capsule and dry flower products to Australia.
After closing the purchase of its first
81 acres of land in British Columbia for outdoor cannabis cultivation,
CannTrust immediately invested in fencing, security, irrigation and other land
preparation activities and applied for Health Canada approval to plant and
cultivate on the land. Based on its estimate of yields and projected date of
permitting at the time, CannTrust estimated 75,000kg of cannabis could be
produced from this property in 2019. As CannTrust has yet to receive its Health
Canada permit at this stage of the growing season, it is now estimated that
production from this operation could range from 0 to 15,000kg in 2019, subject
to the timing and receipt of regulatory approvals. A crop of up to 15,000kg is
expected if planting is completed in the first half of July 2019 and yields
will diminish if a crop is planted in the second half of the month. If a crop
is not planted by August 5, 2019, there will be no outdoor harvest in 2019.
CannTrust expects to reach a definitive
agreement for a long-term lease for an additional 160 acres in the near term
and that all properties, representing over 240 acres of land, will be prepared
for planting at the beginning of the growing season in 2020. Between these two
properties, CannTrust continues to expect that it can produce between 100,000kg
to 200,000kg of cannabis in British Columbia in 2020, subject to regulatory
approvals.
"We have access to premium land in a
very rich agricultural region and we remain undeterred in our long-term
strategy to develop innovative cannabis products at low cost," said Peter
Aceto, Chief Executive Officer.
Last week, CannTrust completed its first
shipment of CBD, THC and 1:1 CBD:THC vegan capsules and dry flower products to
Australia. These products will be resold by its partner Cannatrek Ltd. to
medical patients in Australia. These shipments are expected to continue until
Cannatrek's operations achieve commercial production. CannTrust now has nine
products available to medical patients in Australia.
"The first steps to build
CannTrust's global footprint were established last year through partnerships in
Europe and Australia. We continue to
make excellent progress with our partners in these regions as they build their
operations and through our regular shipments of our award-winning products to
both Denmark and Australia. We will continue taking action to establish leading
positions in medical cannabis markets around the world. CannTrust is in an
excellent position to increase our international business as medical and
recreational cannabis continue to gain acceptance worldwide," said Peter
Aceto.
Westleaf Inc. (TSX-V:WL) (OTCQB:WSLFF)
announced the completion of construction on its
wholly owned cannabis extraction, processing and product formulation facility, The Plant by Westleaf Labs,
which will have a throughput capacity of up to 65,000 kilograms per annum in
Phase I. The facility is now entering the final stages of the Health Canada
licensing process. The Company expects to receive a Standard Processing license
for The Plant as early as Q3 2019 and anticipates that production at the
facility would commence shortly thereafter. This marks a major operational
milestone for Westleaf and, once licensed, will allow the Company to produce
its own branded cannabis products, as well as provide contract manufacturing
and white-label opportunities to other cannabis companies.
"This is a significant milestone for
Westleaf, marking our transition from construction to operations and execution
on our plan to build a brand focused vertically integrated cannabis
company," said Scott Hurd, President and CEO. "Once licensed, this
facility will produce the current suite of legal cannabis derivative products,
and as we move towards additional cannabis product legalization in the fourth
quarter, we will expand our product lines to include vapes, edibles and other
derivative cannabis products."
As a result of Westleaf Inc.'s unique
brand focused vertically-integrated business model, it is expected that The
Plant will give the Company a competitive advantage in being adaptive to
consumer needs and interests. "The Plant will also allow us to be flexible
and responsive to consumer demand and underscores the value of the Westleaf
business model," said Adam Coates, Chief Commercial Officer at Westleaf.
"By owning the customer experience and feedback loop through our Prairie Records
cannabis stores, we can alter production based on the trends of our
customers."
Harvest One Cannabis Inc. (TSXV:
HVT) (OTCQX:
HRVOF) and Delivra Corp. (TSXV:
DVA) announced
today that they have completed the previously
announced plan of arrangement under the provisions of the Business Corporations
Act (Ontario), pursuant to which Harvest One acquired all of the issued and
outstanding common shares of Delivra.
"We
are delighted to close this transaction and welcome Delivra to the Harvest One
team" said Grant Froese, Chief Executive Officer of Harvest One. "The
addition of the LivRelief™ brand to our existing product portfolio emphasizes
our goal of becoming a global leader in the health, wellness, and self-care
sector. There are significant synergies between both organizations and we
expect an expeditious integration. We will look to expand the development of
Delivra's products globally with an expanded reach of the current formulation
and new products, including cannabinoid infused products, when and where
legal."
Dr.
Joseph Gabriele, Director, Chief Executive Officer, and Chief Scientific
Officer of Delivra, added, "Harvest One's health and wellness strategy
coupled with their expanding distribution capabilities will ensure that our
LivRelief™ product will reach more people in Canada and beyond. Delivra
shareholders showed overwhelming support for this transaction and we look
forward to the next stage of our development as part of the Harvest One team as
we extend our reach, our offerings, and capitalize on markets where CBD infused
products are legal."
Concurrent
with the completion of the Arrangement, Dr. Joseph Gabriele, the current CEO of
Delivra, joined the Board of Directors of Harvest One. With the exception of
Dr. Joseph Gabriele, each of the directors of Delivra resigned from the Board
of Directors of Delivra.
High Tide Inc. (CSE:HITI) (OTCQB:HITIF)
today announced that the Canna Cabana retail store
located at 10831 100 Street in Grande Prairie, Alberta received its first
delivery of cannabis products from Alberta Gaming, Liquor and Cannabis and
began selling recreational cannabis for adult use on June 29, 2019. The Grande
Prairie Store had been selling smoking accessories since late January but was
licensed by AGLC as High Tide's fifth retail cannabis store on June 3, 2019.
Barring any changes to the rate of
licensing recently accelerated by AGLC, High Tide expects its next 10 Canna
Cabana stores to begin retailing cannabis over the next 8 weeks. "With
even faster licensing by AGLC, we are excited to continue our rapid growth to
becoming Canada's leading cannabis retailer," said Raj Grover, President
and Chief Executive Officer of High Tide. "Maximizing the Canna Cabana
retail experience in Alberta as Canada's leading retail cannabis jurisdiction
is a great opportunity for our customers, stakeholders and shareholders alike,"
added Mr. Grover. The Company expects these next ten Canna Cabana stores,
including one franchise, to be licensed as retail cannabis stores throughout
the summer, which will bring its total number of retail cannabis stores to 15
branded locations across Alberta.
The remaining 22 locations to reach the
effective maximum of 37 retail cannabis stores in Alberta are currently under
various stages of development and construction. Outside of Alberta, High Tide
currently has a Canna Cabana retail cannabis store in Swift Current,
Saskatchewan, along with three branded locations in Hamilton, Sudbury and
Toronto, Ontario. High Tide is also progressing toward closing the previously
announced acquisition of a second location in Saskatchewan, establishing a
retail cannabis store in Niverville, Manitoba after winning the opportunity to
do so by provincial draw in May and opening the maximum number of eight
locations in British Columbia.
National Access Cannabis Corp. (TSXV:
META),
today announced it has received two additional licences
from the Alberta Gaming, Liquor and Cannabis Commission to open cannabis retail
stores in Alberta. The retail stores will be located in the cities of Calgary
and Airdrie. The announcement comes following the previously released news that
the AGLC has lifted the moratorium on new cannabis retail licences.
"We
continue our rapid growth in Alberta," said Mark Goliger, CEO of NAC.
"With two new licences quickly following the three new licences announced
on June 18th, we continue to expand our private cannabis retailing
footprint in Alberta and across Canada."
NAC
currently operates in three provinces, has applied for licences in British
Columbia and plans to make applications for licences in Ontario once licensing
opens up to more private retailers. NAC's experienced team of retail industry
professionals is focused on achieving its business plan of having 40 operating
stores by the end of calendar 2019, and 110 operating stores by the end of
calendar 2020.
Fire & Flower Holdings Corp. and
its wholly-owned subsidiary Fire &
Flower Inc. (TSXV:
FAF), today
announced that it has received an additional
licence to operate a cannabis retail store in Lethbridge, Alberta from the
Alberta Gaming, Liquor and Cannabis Comission.
Once opened, this store will be the 22nd
Fire & Flower branded, licensed cannabis store and will be located at 2424
Fairways Plaza Road South in Lethbridge, Alberta. This announcement of an
additional Alberta licensed cannabis store demonstrates Fire & Flower's
commitment to its near-term rollout schedule. The Lethbridge location has been
built out and is ready for opening once final inspections occur and cannabis
products are received.
"The rapid rate at which the AGLC is
issuing cannabis retail licenses demonstrates Alberta is open for business and
this province is a leader in cannabis retail," shared Trevor Fencott, Fire
& Flower's Chief Executive Officer. "Our recent bought deal private
placement financing of $27,000,000 ensures Fire & Flower is well positioned
to capitalize on the accelerated store licensing."
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