Investor Ideas #Potcasts 528, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NASDAQ: $CGC) (OTC: $OWPC) (TSX: $TGOD.TO) (OTC: $TGODF) (NASDAQ: $CLVR)
Delta, Kelowna, BC, February 9, 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:
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 and private company announcements.
One World Pharma Inc. (OTC: OWPC), a U.S. based, fully licensed, pure-play hemp and cannabis ingredient producer in Colombia, announced an agreement with ISIAH International, LLC, the holding company of its CEO, Isiah Thomas, to invest $3 million into One World Pharma, Inc.
The $3 million investment will fund the expansion of farm operations, additional certifications for THC seeds already approved by the government of Colombia, Global GAP (Good Agricultural Practices) certification and the build-out of a GMP certified state-of-the-art THC/CBD extraction facility. The investment will be made in installments over six months, with the first tranche of $250,000 having already been funded. The farm expansion through this funding is expected to allow One World Pharma to significantly increase revenue in the second quarter of 2021 through the increased sale of seeds, newly approved cuttings, and extracted oil.
Isiah Thomas makes this substantial financial commitment through ISIAH International based on his belief in the bright future of the global cannabis market, which leading research firms assert will reach $47 billion in annual sales by 2025. ISIAH International is a holding company with interests in a diversified portfolio of companies. Wholly owned by Chief Executive Officer Isiah Thomas, ISIAH International invests in companies with strong market positions and growth potential.
“We could not be more thrilled. When Isiah Thomas assumed the role of CEO he lent us his good name and his world-renowned leadership and business acumen. Today, he provides the funding for the Company to truly execute on its plan to become a leading international supplier of the finest cannabis ingredients,” stated Dr. Kenneth Perego, OWP’s Executive Chairman.
Isiah Thomas, on behalf of ISIAH International, stated, “After extensive analysis of Colombia, the world market and these most recent developments at the Company, I passionately believe there is a tremendous opportunity to build a world class, valuable, environmentally and socially conscious company that is a significant player in the global cannabis and industrial hemp industries. There are few, if any, reliable, industrial scale, global supply chain companies in this space and we intend to be one. I am pleased to initiate this next chapter of growth.”
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) today announced its financial results for the third quarter fiscal 2021 ended December 31, 2020. All financial information in this press release is reported in millions of Canadian dollars, unless otherwise indicated.
“We delivered another quarter of record net revenue, with growth across all our businesses, led by improved commercial and supply chain execution," said David Klein, CEO. "We are building a track record of winning in our core markets, while also accelerating our U.S. growth strategy with the momentum building behind the promising cannabis reform in the U.S."
"We are executing against our cost savings program, with several initiatives already completed and more underway to build a leaner and more agile business," added Mike Lee, CFO. "These cost savings, along with our top-line growth and continued cost discipline, puts Canopy firmly on a path to achieve profitability during Fiscal 2022, with further improvement anticipated beyond."
Medium-Term Financial Milestones
With their new strategy in place, their organizational changes complete, and their operational cost savings program now underway, the Company is in position to establish the following medium-term financial targets:
● Net revenue CAGR of 40%-50% from FY 2022 to FY 2024;
● Positive Adjusted EBITDA during the second half of FY 2022 and 20% Adjusted EBITDA margin for the full year FY 2024; and
● Positive operating cash flow for the full year FY 2023 and positive free cash flow for the full year FY 2024.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF), a leading producer of premium certified organically grown cannabis, today announced preliminary unaudited revenue for fourth quarter 2020 and provided an update to the previously provided twelve-month Canadian revenue forecast for the period November 1, 2020 to October 31, 2021, as disclosed in the shelf prospectus dated November 27, 2020 (the "Prospectus Forecast").
Preliminary and unaudited consolidated gross revenue for the fourth quarter 2020 is expected to be approximately $10.9 million, reflecting growth of 235% over the prior year, and an increase of 91% over the third quarter of 2020. This reflects the significant progress and growth achieved in Canadian operations and sales, which accounted for $8.6 million of the fourth quarter 2020 gross revenue total.
"Our increase in revenue reflects the collective efforts of the TGOD team, resulting in improvements in the quality of our flower which is being well received by the market," said Sean Bovingdon, CFO and Interim CEO of TGOD. "We are also encouraged by the traction we are gaining with our Highly Dutch flower and hash, and look to continue expanding distribution of these along with new premium flower strains and 2.0 product offerings, though we are monitoring the effects that the COVID crisis is having on this progress."
While the revenues achieved for the fourth quarter were encouraging, the Company continues to assess the economic climate post year-end, specifically with many provincial governments imposing lockdowns and stay-at-home orders due to COVID-19, and some revising listing mandates. The Company believes these measures will hamper the rate of revenue growth in Canada that was expected in the first half of 2021 and impact the timing of market entry for its new sativa strains and some 2.0 products. Without these conditions, TGOD would expect to be able to meet the Prospectus Forecast, however TGOD now notes an increased risk in achieving the Prospectus Forecast of $61.5 million net sales for the period November 1, 2020 to October 31, 2021. As such, it expects revenue to grow at a slower rate with the revised Canadian net revenue forecast for that period being in a range of $40 million to $45 million. The Company expects that due to these changing conditions, it will not meet its previous expectation of achieving positive monthly Canadian operating cashflow by the end of Q1 2021. Consequently, TGOD is proactively managing costs to correlate with sales activity levels and still expects to achieve positive monthly Canadian operating cashflow later in 2021.
Clever Leaves Holdings Inc. (NASDAQ: CLVR), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, announced today its branded nutraceutical manufacturer, Herbal Brands, has entered into a strategic partnership with the LooperGroup and TruSource Hemp Group (“TruSource”), a leading provider of services for the hemp industry, to import the Company’s first commercial shipment of CBD into the United States. Clever Leaves´ Colombian facilities are the first and only cannabis operations in LATAM to have a Good Manufacturing Practices certification from the European Union (EU-GMP).
"This partnership will capitalize on both Clever Leaves’ and TruSource’s combined expertise within the hemp industry, resulting in significant access to high quality grade CBD products for the U.S. marketplace,” said Kyle Detwiler, CEO of Clever Leaves. The CBD industry is estimated to reach $20 billion by 20241, and the Company expects this U.S.-based strategic partnership to unlock opportunities to provide high quality, cost-effective raw materials for the U.S. market.”
“TruSource offers Clever Leaves the deployment expertise for an important new market, enabling our company to import its first commercial shipment of CBD into the U.S.” he added.
“The partnership between Clever Leaves, TruSource, and the LooperGroup is a powerful alliance. Clever Leaves’ expertise in large-scale cultivation, evolving formulations, and industry innovation will provide U.S. hemp commercial customers with access to an unprecedented, vertically integrated supply of CBD isolate, extracts and finished solutions,” said D. Williams, TruSource Hemp Group’s President & CEO.
Andrés Fajardo, President of Clever Leaves, said, “Our efforts are aimed toward manufacturing products of the highest quality. To that end, we operate under rigorous international pharmaceutical-grade quality standards. Thus far, our products have been widely accepted in more than 15 different countries across five continents.”
He added, “This partnership enables our Herbal Brands business, which currently has access to more than 10,000 retail distribution points in the U.S., to manage every aspect of our CBD topical product development from 'seed to consumer' and allows us to provide the highest quality CBD products to the U.S. market."
This first shipment successfully cleared customs in the United States in Q1 of 2021.
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