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Investorideas.com - Cannabis Stock News: Canopy Growth (TSX: $WEED.TO) (NYSE: $CGC) to temporarily close corporate owned retail amid response to COVID-19
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Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 384- Cannabis #Coronavirus Closures (TSX: $WEED.TO)(NYSE: $CGC), (TSXV: $LIFT.V) (OTCQB: $LFCOF)
Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 384- Cannabis #Coronavirus
Closures (TSX: $WEED.TO)(NYSE: $CGC), (TSXV: $LIFT.V) (OTCQB: $LFCOF)
Delta, Kelowna, BC, March 17th, 2020 (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:
Read this in full
at https://www.investorideas.com/news/2020/cannabis-potcasts/03171WEED-CGC-LIFT-LFCOF.asp
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 company announcements.
Canopy Growth
Corporation (TSX:
WEED)(NYSE: CGC) has been monitoring the COVID-19
outbreak and paying close attention to the guidance given by public health
bodies around the globe. Canopy Growth's leadership team has
made the decision to temporarily close all corporate-owned
Tokyo Smoke and Tweed retail locations across Canada, effective at 5:00 p.m.
local time today, March 17.
"We
have a responsibility to our employees, their families, and our communities to
do our part to "flatten the curve" by limiting social interactions.
For us, that means shifting our focus from retail to e-commerce," said
David Klein, CEO, Canopy Growth. "This is a big decision but it was also
an easy one to make – our retail teams are public-facing and have been serving
an above-average volume of transactions in recent days. Given the current
situation, it is in the best interest of our teams and our communities to close
these busy hubs until we are confident we can operate our stores in the best
interest of public health."
Canopy
Growth also has a responsibility to its customers and medical patients to
continue providing access to their desired cannabis products and prescribed
medication. The Company has established, fully supported e-commerce platforms
available to our recreational and medical customers across the country to
provide business continuity for people seeking our products.
The
decision affects the 23 corporately-owned stores in Newfoundland, Saskatchewan,
and Manitoba as well as the Tweed Visitor Centre in Smiths Falls, ON.
Patients
will be able to continue purchasing medical cannabis through Spectrum
Therapeutics. Adult consumers
within Manitoba and Saskatchewan are able to purchase Canopy Growth products
through Tweed and Tokyo
Smoke e-commerce
platforms, all other provinces and territories will be supported through
government-run online retail.
In
other COVID related news, Lift & Co.
Corp. (TSXV:
LIFT) (OTCQB:
LFCOF), announced
today that it has temporarily laid off members of its
workforce and paused operations of non-profitable business segments due to
extenuating circumstances outside of the Company’s control.
Specifically, due to the COVID-19 pandemic and the
effects the pandemic is having on event businesses around the world, the
Company has made difficult and strategic decisions intended to preserve cash
and long-term shareholder value. The Company remains committed to continuing
its profitable Lift & Co. Expo and CannSell lines of business which will be
operationally unaffected by these changes.
“We are incredibly saddened by these necessary and
difficult actions. Our team members have been tirelessly dedicated to driving
shareholder value and building Cohesion and this pandemic and its impact on our
operations is a shock to us all,” said Matei Olaru, CEO of Lift & Co. “We
are doing everything possible to preserve jobs long term at Lift & Co as we
commit to preserving shareholder value and profitably servicing our valued
clients during these uncertain times.”
As the COVID-19 pandemic continues to grow and impact
commerce globally, Lift & Co. is focusing on ensuring the safety and
well-being of its employees and viability of the Company. The Company intends
to rehire those affected by the temporary layoffs if and when the COVID-19
pandemic is resolved.
Following
up from yesterday’s announcement regarding Cova
POS, now Greenline POS has
announced partnering with Dutchie.
"Cannabis
retailers now, more than ever, need online solutions to increase their
inventory visibility and add convenience to customers' ordering
experiences," said Albert Kim, CEO of Greenline POS. "We're proud to
be working with Dutchie to bring click and collect to Canada."
Online
menus are critical for cannabis retailers in a competitive landscape where
customers research online first before visiting stores. Understanding the
availability of a strain can make or break a decision to visit a store.
Click-and-collect
is an increasingly in-demand feature for stores that are competing on
convenience. It allows customers to reserve their orders online, and pick up in
store for a seamless purchasing experience.
"With
the emergence of click and collect in Canada, we are excited to integrate with
an innovative retail solution like Greenline," said Ross Lipson, CEO of
Dutchie. "With real-time menus and streamlined order fulfilment, the
Dutchie and Greenline integration offers a premium experience for both
consumers and retailers."
SparqOne, the
fastest-growing distribution company in California, announced
today it has entered into distribution agreements with
best-in-breed cannabis brands Kushy Punch, Church, Mindset Organics, Branded
and Smoakland to reach over 400 dispensaries statewide. SparqOne has rights to
distribute these throughout the state of California.
“We
are so pleased to welcome these exceptional companies and brands to our growing
portfolio, and now have a full vertical product line-up to meet every category
and pricing tier our dispensary partners offer,” said SparqOne General Manager
Andrew Dorsett. “We have built our company on three core tenets — superior
customer service, next day delivery, and real time sales and inventory
management.”
SparqOne
has distribution hubs in Los Angeles, Oakland, Orange County and Sacramento,
which provide the platform for its next-day delivery service to dispensaries
statewide. Every crew member goes through an extensive two-week training for compliance,
product knowledge and customer relations. In addition to Dorsett, a highly
decorated Marine Corps veteran, the team is comprised of a diverse group of
experts from the logistics, cannabis and biotech sectors including Marine and
Navy veterans, budtenders and cultivators.
Dorsett
added, “From Eureka to El Centro, Santa Barbara to Needles, we have strong
relationships with nearly every shop in the state. We work tirelessly with each
to improve their sales and profits through smart in-store education and product
positioning, frequent patient appreciation days, and bringing fresh, innovative
brands and products to their customers.
“You
will see our crew members sporting our distinctive S1 racing colors and apparel
with every delivery to reflect our ‘cannabis on demand’ service to shops and
customers throughout the state.”
CURE Pharmaceutical (OTC:CURR), an
innovative drug delivery and development company,
today announced the allowance of Chinese Patent No.
ZL201480039313.6. The new patent covers the loading of high amounts of active
drug on an oral thin film using its proprietary drug delivery systems,
including its lead drug product, CUREfilm Blue™, a soluble thin film for oral
administration of sildenafil citrate (Viagra™) to treat erectile dysfunction
(ED) in China.
“Securing
this key patent supports our global commercialization strategy for CUREfilm
Blue as well as follow-on drugs delivered using thin film,” said Rob Davidson,
CEO of CURE Pharmaceutical. “We are focused on the Asian market for this first
product, and in particular China, a high-demand ED drug market where consumers
are early adopters of innovative dosage forms.”
The
ED drug market is expected to reach USD $6.5 billion at a 6% compound annual
growth rate by 2025, according to QYResearch. The report points out that the
Asia Pacific market will be one of the fastest growing markets for ED medicine.
Sildenafil is leading the ED drug market worldwide with more than half of all
global sales.
The
new patent covers methods of preparing edible thin films that can deliver high
doses of active ingredients that are encapsulated using lipids to form micelles
or liposomes. This enables CURE to differentiate its oral thin film product
from sildenafil oral soluble films.
Investor
ideas reminds all listeners to read our disclaimers and disclosures on the
Investorideas.com
website and 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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