Investor Ideas #Potcasts
521, #Cannabis News and #Stocks on the Move; (TSX: $ACB.TO) (NYSE: $ACB) (CSE: $MCUR.C) (OTCQB: $MCURF) (NYSE: $HEXO) (TSX: $HEXO.TO)
Delta, Kelowna, BC, January 22, 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:
https://www.investorideas.com/Audio/Podcasts/2021/012221-StocksToWatch.mp3
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at https://www.investorideas.com/news/2021/cannabis-potcasts/01221ACB-MCUR-HEXO.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 will be looking at a few public company announcements.
Aurora
Cannabis Inc. (TSX:
ACB)
(NYSE:
ACB)
announced that it
has entered into an agreement with a syndicate of underwriters led by BMO
Capital Markets and ATB Capital Markets, under which the underwriters have
agreed to buy on bought deal basis 12,000,000 units of the Company, at a price
of US$10.45 per Unit for gross proceeds of approximately US$125 million. Each
Unit will be comprised of one common share of the Company and one half of one
common share purchase warrant of the Company. Each Warrant will be exercisable
to acquire one common share of the Company for a period of 36 months following
the closing date of the Offering at an exercise price of US$12.60 per Warrant
Share, subject to adjustment in certain events.
The Company has granted the
Underwriters an option, exercisable at the offering price for a period of 30
days following the closing of the Offering, to purchase up to an additional 10%
of the Offering to cover over-allotments, if any. This option may be exercised
by the Underwriters for additional Units, Common Shares, Warrants or any
combination of such securities.
The net proceeds of the offering
will be used for general corporate purposes, which may include opportunistically
reducing debt. The Company believes that the Offering fits with its broader
strategy to have a strong balance sheet while maintaining maximum flexibility
to invest and build towards being a leader in global cannabinoids.
The closing of the Offering is
expected to take place on or about January 26, 2021 and will be subject to
customary conditions, including approvals of the Toronto Stock Exchange and the
New York Stock Exchange.
A prospectus supplement to the
Company’s short form base shelf prospectus dated October 28, 2020 will be filed
with the securities commissions or securities regulatory authorities in each of
the provinces of Canada, except Quebec, and with the U.S. Securities and
Exchange Commission (the “SEC”) as part of the Company’s registration statement
on Form F-10 (the “Registration Statement”) under the U.S./Canada
Multijurisdictional Disclosure System. The Prospectus Supplement, the Base
Shelf Prospectus and the Registration Statement contain important detailed
information about the Company and the proposed Offering. Prospective investors
should read the Prospectus Supplement, the Base Shelf Prospectus and the
Registration Statement and the other documents the Company has filed for more
complete information about the Company and this Offering before making an
investment decision.
Copies of the Prospectus Supplement,
following filing thereof, and the Base Shelf Prospectus will be available on
SEDAR at www.sedar.com and copies of the
Prospectus Supplement and the Registration Statement will be available on EDGAR
at www.sec.gov. Copies of the
Prospectus Supplement, following filing thereof, the Base Shelf Prospectus and
the Registration Statement may also be obtained from BMO Capital Markets by
contacting BMO Capital Markets, Brampton Distribution Centre C/O The Data Group
of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at
(905) 791-3151 Ext 431 or by email at torbramwarehouse@datagroup.ca or from BMO Capital
Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor,
New York, NY 10036 (Attn: Equity Syndicate), or by telephone at (800) 414-3627
or by email at bmoprospectus@bmo.com. Copies
of such documents may also be obtained from ATB Capital Markets Inc., Attn:
Gail O'Connor, 410-585 8th Ave SW, Calgary, Alberta, T2P 1G1, (403) 539-8629 or
by email from atbcm_dealflow@atb.com.
Mind
Cure Health Inc. (CSE:
MCUR) (OTCQB:
MCURF) announced its
inclusion among 17 psychedelic companies in the first ever Psychedelic ETF. Horizon's
Psychedelic ETF, is expected to commence trading Jan. 26, 2021 under ticker
PSYK on the NEO exchange.
The ETF includes companies in the
Canadian legal psychedelics industry, as well as U.S. companies engaged in
legal activities involving psychedelic drugs and substances. The purpose of the
ETF is to "invest in, and indirectly derive revenues from, companies in
the psychedelics industry engaged in legal activities involving psychedelic
drugs and substances."
"We are honoured to be selected
as part of the first ever Psychedelic ETF. This is a milestone moment for our
industry and for MINDCURE, as we continue to explore, develop and commercialize
products to give hope and healing to a world in pain and suffering from a
mental health crisis. This solidifies our position amongst peers and gives
investors a great opportunity to support our industry as a whole," said
Kelsey Ramsden, President & CEO, MINDCURE. "We congratulate our peers
and believe it is a privilege to build a new category of care and investment
together."
Lastly we look at Canadian cannabis
product recalls over the month of January. While many investors focus heavily
on company financials as well as company news, focussing on product recalls has
been a more underrated segment of cannabis business considerations.
On January 12th,
2021, Hexo Corp. (NYSE:
HEXO) (TSX:HEXO) had a
product recall, announced by the
Ontario Cannabis Store (OCS) online retailer, which impacted three types of
disposable vape pens.
Hexo told Marijuana Business Daily the
vapes were sold in Alberta, Manitoba, New Brunswick, Ontario and Saskatchewan
as well as to medical cannabis clients.
The producer
attributed the recall to “a mechanical hardware defect, in which prolonged
auto-ignition may lead to excess heat in the battery cell, which in turn may
cause melting of the plastic shell.”
“As an immediate
corrective action, Hexo has implemented enhanced third-party hardware approval
criteria including the use of an independent third-party accredited lab to
assess all devices under consideration,” Shannon McCoy, Hexo vice president of
quality, wrote in a statement emailed to MJBizDaily.
“Hexo expects the
financial impact of the voluntary recall to be minimal, and well within the
normal course of business,” McCoy added, without specifying the exact number of
recalled vape pens.
On January 7th,
2021, The Agro-Greens had a recall
issued by Health Canada which affected 752 units of North 40 Black Cherry Punch
cannabis bud sold to medical cannabis clients via mail and by recreational
cannabis retailers in Saskatchewan.
“The affected
product may contain mold,” Health Canada said in its recall notice, adding that
Agro-Greens had received four complaints about the lot and one report of an
adverse reaction.
Now this cannabis
product was flagged by one Grower North 40 Cannabis, who flagged the mold issue
to the public in a Dec.
27 tweet, “All environmental conditions were on point
throughout the drying and curing,” North 40 noted in its tweet. “It looks like
a very isolated incident.”
The moldy bud was
also identified in a late December post on a Reddit message board, said David
Purcell, chief revenue officer at Shelter
Cannabis, which is in
the process of acquiring Agro-Greens.
Another recall
issued on January 8th, 2021 involved 600 units of cannabis bud with erroneous
THC and CBD values. The 3.5-gram packages of Oceanic Sea Breeze Cannabis, grown
by Delta 9 Bio-Tech of Manitoba and
sold at stores in Newfoundland and Labrador, had
“incorrect cannabinoid values, where the labelled
total THC and total CBD are higher than the actual values,” said Health
Canada’s recall notice.
Inaccurate
cannabinoid labeling has caused the majority of cannabis recalls in Canada
since recreational legalization in 2018.
In the past year,
labeling-related recalls have affected products such as flower from Aurora Cannabis subsidiary MedReleaf, pre-rolls from Sundial Growers, beverages from AgMedica Bioscience and ingestible
cannabis oil from Voyage Cannabis.
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or securities. Investors are reminded all investment involves risk and possible
loss of investment.
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