Investor
Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 387 (CSE: $PLTH.C)
(OTCQX: $PLNHF) (TSX: $VFF.TO) (NASDAQ: $VFF) (CSE: $IMCC.C)
Delta, Kelowna, BC, March 23, 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/03231PLTH-PLNHF-VFF-IMCC.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.
But
first, in recent
news, The
Alberta Cannabis Council (ACC), a not-for-profit industry trade group serving
the province’s cannabis industry stakeholders, shared a letter with the
Canadian government calling for it to grant the same access to economic relief
programs to the country’s cannabis industry.
The letter was
signed by 74 industry members and calls for the “equal and fair access to
significant support for all cannabis companies working to keep employees
employed, including access to wage subsidies as announced on March 18, 2020 by
the Prime Minister and Finance Minister.”
Additionally, the
letter asks that federal agencies offer “equal and fair access to funding
through federal agencies, EDC [Export Development Canada] or BDC [Business
Development Bank of Canada] as other industries have for credit instruments.
Presently, for example, BDC has indicated that the regulated cannabis sector
can not access the $10B in stimulus funding, part of which is available through
that crown corporation.”
John Carle, the
executive director for the ACC, along with the letter’s signatories, writes “We
are not asking for special treatment, but rather equitable treatment.”
The letter also
highlights the recent, non-COVID-19 related challenges the industry has faced
in recent months, including difficult access to investor capital and the loss
of more than 2,000 jobs across the industry.
“We are asking that
this industry, which has added a cumulative total of $8B to the Canadian GDP
over the course of the last year, specifically and explicitly be included in
all economic stimulus measures and provided the support that is being offered
to every other Canadian business at this time,” the letter reads.
Planet 13 Holdings
Inc. (CSE:
PLTH) (OTCQX:
PLNHF) announced last
Friday, March 20, 2020, that Nevada Gov. Steve Sisolak issued a declaration
ordering all recreational and medical marijuana dispensaries to close their
storefronts. Legal cannabis statewide will be available by delivery only. In
response to overwhelming customer demand, Planet 13 has significantly expanded
its delivery capabilities, moving from five to eight delivery vehicles, all of
which are now running twenty-four hours a day, seven days a week. The Company
expects to add an additional seven vehicles to its delivery fleet over the next
several days. Planet 13 offers delivery to Las Vegas and all other
municipalities in the greater Las Vegas Valley.
"We
have one of the largest delivery platforms in Nevada and will be expanding it
to ensure continuity of service to the greater Las Vegas Valley residents. As
one of the few companies with an existing delivery program, we have a
responsibility to our community to pick up the slack as other dispensaries
close," said Larry Scheffler and Bob Groesbeck, Co-CEOs and Co-Founders of
Planet 13.
Village Farms International,
Inc.
(TSX:
VFF)
(NASDAQ:
VFF)
announced that
its majority-owned joint venture for large-scale, low-cost, high-quality
cannabis production, Pure Sunfarms,
has received approval from Health Canada to operate the final components of its
65,000 square foot, state-of-the-art processing center located within the 1.1
million square foot Delta 3 greenhouse facility. The significantly expanded processing area
will enable Pure Sunfarms to generate additional production cost efficiencies,
further elevate the quality of its products, expand its product offerings and
increase its processing throughput.
Health
Canada's approval of the additional processing area permits Pure Sunfarms to
begin operation of:
●
11 additional drying rooms utilizing
advanced drying technology and processes to further enhance the quality of Pure
Sunfarms product;
●
5 additional packaging rooms;
●
2 additional testing areas;
●
6 additional storage areas; and,
●
7 extraction rooms with equipment capable
of processing 35,000 kilograms of biomass annually.
The
expanded processing center has been designed to satisfy full European Union GMP
compliance and certification requirements, which Pure Sunfarms is currently
pursuing. The 65,000 square foot
processing centre has capacity to serve both the Delta 3 and Delta 2 greenhouse
facilities, with a combined production area of 2.2 million square feet, at full
production.
"The
approval of this additional processing space enables Pure Sunfarms to enhance
our operations and quality processes to further support our commitment to
providing our customers with high-quality products at a great price," said
Mandesh Dosanjh, President and CEO, Pure Sunfarms. "Pure Sunfarms expects
to begin to realize the benefits of this new space in the coming quarter, allowing
us to build on our strong performance in the Canadian markets we serve."
"Pure
Sunfarms' success is directly attributable to the decades of large-scale
growing and operational experience contributed by Village Farms, low-cost
production, efficient capital investment, disciplined cost management and the
installation of a smart, highly talented and experienced leadership team,"
said Michael DeGiglio, CEO, Village Farms. "It is a business model that
positions Pure Sunfarms to continue to be a leader in the Canadian cannabis
sector for years to come. The expansion
of this processing area significantly strengthens Pure Sunfarms' capabilities
to produce high-quality products, supports its ongoing pursuit of even greater
production efficiencies and sets the stage for the introduction of new product
formats to build on its leading sales performance in dried cannabis
products."
IM Cannabis Corp. (CSE:
IMCC), one of the world's pioneering medical cannabis
companies with operations in Israel and across Europe,
announced that Focus Medical Herbs Ltd., a licensed medical
cannabis producer in Israel, has signed a 12-month definitive supply agreement
with Intelicanna Ltd. (TASE:INTL) for a
minimum of 500kg and up to 1,000kg of medical cannabis. Additional purchases
may be made by Focus Medical under this agreement without a change to the
contracted price paid to Intelicanna. The final products will be sold to pharmacies
in Israel under the IMC brand.
Focus
Medical is one of eight original licensed producers in Israel with over 10
years of experience growing high quality medical cannabis in the Israeli
market. Focus Medical has an exclusive commercial agreement with IMC to
distribute its production under the IMC brand. IMC's strategy in Israel is to
pursue additional supply agreements of this nature in order to continue
increasing market share of the IMC brand.
"The
demand for medical cannabis in Israel is rising quickly and securing additional
supply with a premium cultivator is an excellent long-term development for the
IMC brand. This agreement also represents strong third-party validation of
Focus Medical's intellectual property in plant genetics which are unique and
favored by many Israeli consumers," says Oren Shuster, Chief Executive
Officer of IMC. "IMC will continue to pursue similar arrangements with
other medical cannabis suppliers as pharmacies in Israel demand more and more
quality products for their patients over the long-term."
The
Supply Agreement between Focus Medical and Intelicanna is for a term of 12
months from the date of the first planting in Intelicanna's facility. The
Supply Agreement is contingent on Intelicanna receiving IMC-GAP approval by
June 15, 2020.
Intelicanna
will obtain access to Focus Medical's unique and proprietary genetics for the
purpose of delivering product under the Supply Agreement but the genetics will
remain the exclusive property of Focus Medical. Intelicanna may not sell,
transfer or perform research with the genetics it accesses through this Supply
Agreement without consent from Focus Medical. Under the Supply Agreement,
Intelicanna is responsible for all production activities but Focus Medical will
have access to Intelicanna's growing facility to monitor the entire growing
process.
Focus
Medical will make a deposit against future deliveries of 427,500 NIS
(approximately CDN$170,000) within a month from the execution date of the
Supply Agreement. The balance of payments for future deliveries will be made by
Focus Medical within 30 days from delivery by Intelicanna.
Panaxia (TelAviv: PNAX), the largest manufacturer and
distributor of pharmaceutical cannabis products in Israel, and its partner
Ultra Health have
announced the arrival in Israel of the first shipment of hemp
extract, having been awarded a first-of-its-kind permit to export cannabis oil
from the US to Israel.
This
unique license was granted to the companies in light of their recent
qualification to manufacture and distribute at their joint New Mexico (Bernalillo)
facility, including hemp extracts of particularly low (<0.3%) THC
concentrations. The companies have recently been licensed to manufacture
products at the New Mexico facility and distribute them throughout the US. The
facility was designed by Panaxia US and is operated by it while Ultra Health
supplies raw materials and distributes the products. Manufacturing had begun
this month, and the extracts delivered to Israel will be used in the
manufacture of CBD-rich medicinal cannabis products under the premium brand of
Axiban.
Panaxia
aims to produce within a short period of time an inventory large enough to
satisfy several months of demand of all Israeli patients requiring this care.
The products are designated for the Israeli market only and may not be
distributed outside of Israel. Panaxia's CBD-rich oil is targeted at specific
group of patients that require a miniscule dose of THC (categories C20, C24)
among whom is a large group of children suffering from epilepsy or autism
spectrum disorder (ASD).
Dr.
Dadi Segal, Panaxia CEO: "We are pleased to be able to extend care to our
patients in Israeli who are in acute need of this kind of medicinal cannabis
care. Panaxia's superb R&D capabilities combined with the added value of a
high-quality strategic company such as Ultra Health prove themselves time and
again, especially with regard to the high quality of the products and stringent
regulatory compliance."
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
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