Investor Ideas #Potcasts
549, #Cannabis News and #Stocks on the Move; (CSE: $VEXT.C) (CSE: $CURA.C)
(TSXV: $KHRN.V) (OTCQX: $KHRNF), (CSE: $BLO.C)
Delta, Kelowna, BC, April 7, 2021 (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/2021/040721-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2021/cannabis-potcasts/04071VEXT-CURA-KHRN-BLO.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 look at a few public company announcements.
Vext
Science, Inc. (CSE:
VEXT) (OTCQX:
VEXTF) a cannabinoid brand leader based in Arizona,
leveraging its core expertise in extraction, manufacturing, cultivation and
marketing to build a profitable multi-state footprint, announced
today that it has entered into three separate purchase and
sale agreements to acquire: (i) a vacant industrial facility located in Eloy,
Arizona; (ii) the Company's operated indoor cultivation facility in Phoenix;
(iii) and the Company's operated indoor cultivation facility in Prescott Valley
(collectively, the "Transactions"). Vext will pay approximately $6.55
million in aggregate cash consideration upon the closing of the Transactions,
representing the outright purchase of the Eloy facility, and deposits on the
Phoenix and Prescott Valley facilities. The Company expects to enter into
vendor financing arrangements for the balance of the Phoenix and Prescott
Valley facilities.
"Arizona represents one of the
most exciting growth opportunities in the U.S. cannabis market today, and by
adding wholly-owned cultivation capacity, we are ensuring that Vext is
positioned to maximize its share of this growth through both retail and
wholesale channels," said Eric Offenberger, CEO of Vext. "With the
move to adult-use legalization in January and recent expansion announcements in
other industries such as semiconductor production, we expect it to become
increasingly challenging to find suitable cultivation locations within
proximity to key population centers. By owning and expanding our cultivation
capacity, we ensure stability of supply and solid margins both for the
production of our award-winning Vapen brand, and our operated dispensaries. The
Transactions offer us the flexibility to sell high-quality production into the
wholesale market in the short term to generate additional cash flow, while
looking to accretively add to our Arizona retail footprint."
Curaleaf
Holdings, Inc. (CSE:
CURA) (OTCQX:
CURLF), a leading international provider of consumer
products in cannabis has
successfully completed the previously announced acquisition of EMMAC Life Sciences Limited, the
largest vertically integrated independent cannabis company in Europe, for base
consideration of approximately US$50 million in cash and 17.5 million shares of
Curaleaf, with additional consideration to be paid based upon the successful
achievement of performance milestones. Curaleaf has simultaneously established
Curaleaf International Holdings Limited in Guernsey to hold the EMMAC
investment and further its European expansion.
To accelerate the expansion of
Curaleaf International, Curaleaf has secured an investment of US$130 million
from a single strategic institutional investor in exchange for 31.5% equity
stake in Curaleaf International, implying a $413 million Post Money valuation,
with US$80 million in cash available to spend. The subscription will fund the
entire cash portion of the EMMAC acquisition consideration of US$50 million
with the remaining US$80 million to be used to fund Curaleaf International's
current capital expenditures plan through 2022, as well as its pipeline of
potential acquisitions. This infusion of outside capital into Curaleaf
International significantly accelerates Curaleaf's expansion plans in Europe by
fully funding Curaleaf's cash outlay for the EMMAC acquisition and providing
the capital required to support Curaleaf International's near-term European
rollout. With its foreseeable expansion budget fully funded, Curaleaf's new
international business can focus on executing its further European expansion.
Curaleaf and the strategic investor
have entered into a shareholders' agreement regarding the governance of
Curaleaf International pursuant to which Curaleaf will have control over
operational issues as well as raising capital and the ability to exit the
business. In addition, the strategic investor's stake is subject to put/call
rights which permits either party to cause the stake to be bought out by Curaleaf
for Curaleaf equity starting in 2025.
Boris Jordan, Executive Chairman of
Curaleaf, stated, "The successful completion of our acquisition of EMMAC,
and the formation of our new Curaleaf International business, marks a
transformational launching point for our entrance into the European cannabis
market. Building on our market leading position in the U.S., this transaction
establishes Curaleaf as the global, pure play, cannabis market leader by
revenue and geographic reach. With our single strategic institutional investor,
we have set a strong foundation for Curaleaf International's future growth
trajectory. On behalf of the Curaleaf Board of Directors and management team,
we are thrilled to welcome Antonio Costanzo, co-founder and CEO of EMMAC, as
the CEO of Curaleaf International, and the entire EMMAC team to Curaleaf."
The new Curaleaf International
platform includes cultivation, EU GMP-certified processing, distribution, and
R&D operations across several key European medical cannabis markets,
including the United Kingdom, Germany, Italy, Spain and Portugal. Terra Verde,
Curaleaf International's European market cultivation facility in Portugal, is
one of the oldest licensed cannabis growing facilities in Europe with
approximately 2 hectares of cultivation area and is an industry leader on the
cannabis production cost efficiency front. The Portugal based cultivation
facility provides Curaleaf International with the potential to serve customers
across key European medical cannabis markets as well as supporting exports to
countries such as Israel, among others. Curaleaf International plans to
significantly increase its cultivation capacity in 2021, and to exceed 10 tons
per year by 2022, in order to accommodate future growth related to the
expansion of access to cannabis across the major European medical and
adult-use, as well as export markets. Curaleaf International also has an
operational presence and partnerships in European Union countries that are
enacting new medical cannabis access programs. Curaleaf International will also
serve as the platform for other possible acquisitions in Europe and adjacent
areas, and for its participation in pilot adult use programs.
Joseph Bayern, CEO of Curaleaf,
commented, "As the consumer and political liberalization trends around
cannabis that are sweeping the U.S. are increasingly taking hold across Europe,
our expansion into the international cannabis market presents tremendous new
long-term growth opportunities for Curaleaf. With the European population of
nearly 748 million, the potential European addressable market is more than
twice the size of the U.S. addressable market. With the ability to operate our
new European business across country borders, with one or two cultivation sites
and one manufacturing center to serve the entire region in most cases, combined
with our ability to leverage the strength of our consumer packaged goods
strategies and innovations from our U.S. operations, we see enormously positive
implications for our ability to quickly and efficiently scale the business
across Europe."
Khiron
Life Sciences Corp. (TSXV:
KHRN) (OTCQX:
KHRNF), a vertically integrated cannabis leader with core
operations in Latin America and Europe, provided
an operational update with regards to its supply of EU-GMP
medical cannabis products to the UK. To help alleviate bottlenecks and stock
outs, the Company has established an offshore inventory of dried flower, for
the express purpose of serving UK patients.
Furthermore, the Company is broadening
its product portfolio by introducing Khiron 1/14, a high-CBD flower to the UK
in Q2/21. This follows a successful launch in Germany, where it is prescribed
for indications such as anxiety, substance use disorder, and migraines. Khiron
1/14 will complement Khiron 20/1, a high-THC flower, which is already being
prescribed to patients in the UK. Prescribing specialists will also be able to
prescribe smaller quantities of our flower products in 5- gram jars (pictured
below), thanks to enhanced capabilities at the Company's EU-GMP certified
fulfillment partner.
Tejinder Virk, President of Khiron
Europe, commented, "The European market is growing and Khiron is well
positioned through our differentiated education platform, mounting clinical
evidence, and EU-GMP certified products ready for prescription. Our team
continues to work diligently to increase patient access to medical cannabis
products, and patients will now benefit through greater product variety and
volumes. In the coming months, we plan to introduce additional cannabis-based
medical products from our registered Colombian strains, elevating the level of
clinical data available to medical professionals in the UK."
Cannabix
Technologies Inc. (CSE:
BLO)
(OTC:
BLOZF), developer of the Cannabix Marijuana Breathalyzer for
law enforcement and the workplace, reported that it
will begin beta testing its THC Breath Analyzer (“THCBA”) with a private drug
testing clinic located in the Northwestern United States. Cannabix expects to
deliver its version 3.0 THCBA prototype to this clinic in the coming weeks to
begin a breath testing with select patients. The Company and the clinic have
entered into a non-disclosure agreement. The collaborating clinic has a robust
drug testing operation and is one of the top drug testing providers to
employers within its respective state. The high-volume clinic has a diverse
range of patients and focuses on private sector testing for alcohol and illicit
drugs. The clinic has extensive experience beta testing with new drug testing
technologies. In the recent past, the collaborating clinic was selected to be
an early tester of oral swab devices, which have been authorized for use in
certain jurisdictions.
Beta-testing of the THCBA prototype
will be focused on training the device’s machine learning database, to help
determine sensitivity ranges and improving user and administrator experience.
Furthermore, this data will help with identifying cross-reactivity of other
substances with the study population. The THCBA is a drug screening device for
employers and other markets who are seeking a way to quickly, easily and
non-invasively test for recent use of ∆9-tetrahydrocannabinol (“THC”) - the
psychoactive component of marijuana that causes impairment.
Current forms of testing for
marijuana use can identify THC ranging from minutes to days prior to actual
use, making it difficult to show the difference between the two. Studies¹ have shown that breath is a better
indicator of impairment than saliva and urine because THC is present in breath
for a relatively short period of time (1-3 hours); whereas, it is excreted at
detectable levels in other body fluids for many hours, days, or even weeks after
smoking. This short time period of detection in breath aligns with the peak
impairment window.
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