Delta, Kelowna, BC - September 12, 2019 (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 edition of Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
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In today's podcast we look at a few early announcements.
"In 2019 Aurora took its place as the global leader in cannabis production, research, innovation, and international market development. We are executing on all our strategic priorities," said Terry Booth, CEO. "Our best in class cultivation methods allow us to grow consistent, high-quality cannabis at scale. Because of this, we've delivered solid revenue growth in the fourth quarter. We are working to extend our reach in the U.S. markets. Our partnership with the UFC is a basis to explore CBD-from-hemp and hemp food products. We are also exploring additional opportunities and leveraging our Strategic Advisor. We are focused on building a sustainable, high-margin business while providing patients and consumers with access to safe and reliable medicine."
Glen Ibbott, CFO, added, "We continue to see strong growth in cannabis revenues in both medical and consumer categories. Our cultivation execution continues to drive production costs lower and improve gross margins. Aurora's diversified product portfolio remains in demand with patients and consumers alike. With the Canadian launch of derivative products in the coming months, we have made the necessary investments to ensure readiness and focus on a variety of value added products. We are very excited to supply an expanded consumer market with premium cannabis and new product forms."
Some of the financial highlights included the company's net cannabis revenue up 61% sequentially to $94.6 million, Canadian consumer cannabis revenue up 52% to $44.9 million, Medical cannabis revenue up 10% to $29.7 million with wholesale revenues of $20.1 million.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF), a leading producer of premium certified organic cannabis, announced that following its launch in Ontario at the end of August, which marked the Company's entrance into Canada's recreational market, initial demand has exceeded expectations. TGOD's high-THC signature strain, Unite Organic, is performing well online and at dispensaries, triggering a second order from the OCS earlier than initially anticipated.
"We are thrilled to witness such strong sales and positive feedback from retailers and consumers across Ontario, Canada's most populous province at 14.32 million people. We can see from the initial response that demand for high-quality flower is strong," commented Brian Athaide, CEO of TGOD. "Our team is working hard to ramp up production of our premium organic products as we get ready to expand distribution with additional strains and product forms as well as to other provinces in the months ahead. With our Hamilton hybrid greenhouse completed, and a second one nearing completion in Valleyfield, we are on track to distribute nationally early next year."
As highlighted in a study conducted by Hill & Knowlton earlier this year, over 50% of recreational consumers who intended to purchase cannabis stated that it is important that their cannabis be organic. TGOD's cannabis is grown in the Company's proprietary living soil, in accordance with all-natural principles and without irradiation. The Company's growing process is also certified organic by both Pro-cert and ECOCERT, two leading organic certification bodies, providing consumers with a safe, consistent, and enjoyable cannabis experience.
Valens GroWorks Corp. (TSXV: VGW) (OTCQX: VGWCF) announced it has entered into an arm's length, binding, five-year, white label cannabis infused beverage contract with the cannabis division of Iconic Brewing, one of the leading innovative beverage companies in Canada.
Valens is excited to announce a white label agreement with Iconic to provide high quality extracts, formulation services, and SōRSE emulsion IP for its cannabis infused beverages. Iconic will brand and market the final product across Canada. Under the terms of the agreement, a minimum of 2.5 million cannabis infused beverages will be produced over five years with the opportunity to expand on the partnership with new product offerings in the near future.
"We are thrilled to partner with Iconic Brewing, one of the fastest growing alcohol beverage companies in eastern Canada, to help create their new line of cannabis-infused beverages," said Tyler Robson, CEO of Valens. "Their ability to formulate and forecast trends is second to none, as demonstrated by the success of their current beverage products including Cottage Springs Vodka Soda, Picnic Wine Co, Liberty Village, and Cabana Coast. To service this agreement, we will be using our proprietary emulsion solution, SōRSE Technology, which creates oil-based ingestible products, including beverages, that offer a consistent experience with fast onset and offset."
Cole Miller, who leads Iconic's cannabis division, commented "We are extremely proud to partner with Valens on a new line of cannabis-infused beverages. We have an unwavering commitment to fostering a safe and comfortable experience for new cannabis users through low dosage and unparalleled product education. Coupled with Valens' proprietary emulsion solution, SōRSE Technology, we are excited to deliver on our promise of developing one of the world's most sought-after cannabis infused beverage lines."
Namaste Technologies Inc. (TSXV: N) (OTC: NXTTF) today announced that it has signed a distribution and marketing agreement with Cultivated Beauty, a subsidiary of leading skin care retailer Swisspharme Inc and Elizabeth Grant International, to offer a line of its specially formulated hemp-based skin care products through CannMart's online marketplace. These products are now available on the CannMart website.
"We're launching into the skin care market with one of Canada's top selling topical brands," said Meni Morim CEO of Namaste Technologies. "Cultivated Beauty's advanced luxury skin care products, infused with hemp, are a great match with CannMart's diverse customer base and leading online marketplace. CannMart will be able to leverage its AI-driven technology platform to build its customer-centric experience and help consumers get the right products and the best all-around purchasing experience possible."
"We pride ourselves on new and innovative concepts with brand partners who share our vision of delivering quality products to our customers. We see working with CannMart as an integral component to our sales and marketing strategy to expand Cultivated Beauty's brand and related sales," said Margot Witz, Vice President of Swisspharme Inc. "We appreciate CannMart's dedication to educating its customers about its products, a trait we incorporate into our own commercial efforts."
48North Cannabis Corp. (TSXV:NRTH) announced that it has secured 1,000,000,000 mg of high-quality active CBD oil from Iverson Family Farms Inc. based in Willamette Valley, Oregon through an industrial hemp production contract.
Under the terms of the contract, Iverson will harvest industrial hemp on 33 acres of land in 2019 for 48North for the purposes of providing the Company with high-quality active CBD oil.
Announced on the heels of the Company's expansion into the United States, the Company intends on leveraging the high-quality active CBD oil to solidify and expand its U.S business operations.
The CBD oil will be used for three primary purposes:
- the launch of Quill's full-spectrum, hemp-based, CBD-specific, internationally distributed, all-in-one vaporizer pen;
- to launch other farm-bill compliant, federally legal, and centrally distributed CBD-based products across the United States; and
- future B2B sales.
Iverson was started by Ross and Dorothy Iverson in 1950. After Ross developed terminal liver cancer, his family used CBD to help manage his pain. This firsthand experience with CBD led them to begin growing high CBD hemp in 2016 and a year later the installation CO2 processing and manufacturing facility. Today, Iverson is one of the largest vertically-integrated CBD operations in the world. The 2019 grow season includes 600 acres with manufacturing contracts for many of the largest CBD companies, including Charlotte's Web (TSX: CWEB), a market leader in the production and distribution of innovative CBD wellness products.
"48North knows that strategic U.S expansion with a focus on federally legal CBD-derived products is critical to both the long- and short-term success of cannabis companies focused on brand and product for the recreational consumer market. The Company is laser-focused on securing robust distribution channels, further building and maintaining brand loyalty, and developing an innovative and diverse product offering for the increasingly competitive recreational cannabis market globally," said Alison Gordon, CEO of 48North.
Pasha Brands Ltd. (CSE: CRFT) (OTC:CRFTF) announced that it has submitted a product call application package in consideration for supplier approval from the BC Liquor Distribution Branch (BCLDB), in hopes of becoming the first vendor to supply British Columbia's provincial distributor with craft cannabis products. This is the second application of its kind for Pasha, the first being for the Ontario Cannabis Store (OCS) earlier this year, and marks the company's ability to bring quality craft cannabis products from recognized pre-legalization brands to market in an efficient and timely manner.
Through Pasha's numerous craft brands, this application offers the Province of British Columbia the opportunity to access to its differentiated consumer-focused products from accomplished local brands and Canadian craft farmers. By way of its recently acquired Vancouver Island-based licensed producer, MedCann, currently undergoing a name change, Pasha will process wellness-use craft products including pre-rolled premium flower, extracts, capsules, edibles, vaporizer oils, and topicals.
Pasha is proud to submit products from its prohibition-era brands family, brands firmly rooted in British Columbia's craft cannabis industry, to the BCLDB - the only public legal retailer of cannabis in the province. Brands included in the 32-product initial application package include several brand names and production formulations: CBD Therapeutics (CBD isolates and oil formulations), Beard Brothers Collective (cannabis oils, vape pen inhalants, and shatter distillates), Theraveda (craft cannabis flower), Aurion (Craft cannabis gel capsules, distillates, and vape oil products), Roll Model (premium flower pre-rolls and vape oils), Grizzlers (sativa and indica flower pre-rolls), and Earth Dragon Organics (CBD-infused skincare and bath products).
Submitting this application to the BCLDB signifies that Pasha and its subsidiaries are ready to enter the legal market with these products. "These brands were built by people with long-range vision and, for most, their narratives are small business established by locals in British Columbia," said Dr. Brigitte Simons, Chief Scientific Officer at Pasha Brands, who oversaw the submission. "It's time to bring these highly sought-after craft products to the BC consumers who love them."
Jason Longden, CEO of Pasha, added, "Seeing all the Pasha brands coming together and creating a team transitioning from the traditional market to offer unique craft cannabis products is really exciting. It will be a privilege to share our mindfully developed products with a larger demographic."
SOL Global Investments Corp. (CSE: SOL) (OTCQB: SOLCF) announced that 3 Boys Farms, LLC, which owns and operates one of the original fourteen (14) medical marijuana treatment center licenses in Florida, has obtained Good Agricultural Practices-Farm (GAP) and Good Manufacturing Processing (GMP) approvals for its state-of-the art cannabis cultivation facility in Ruskin, Florida with 100% scores on both. SOL Global completed its acquisition of 3 Boys Farms in April 2019 through the closing of its purchase of CannCure Investments Inc., and has invested over $8 million dollars USD to upgrade both the operations team and facilities to scale up for a statewide launch of cannabis medicine via its proprietary home delivery system and retail dispensaries.
"A big congratulations is in order to the 3 Boys operations and cultivation team, who in the span of less than five (5) months worked tirelessly to upgrade the Ruskin facility to meet and exceed GAP and GMP industry standards," said SOL Global's interim chair Brady Cobb. "These certifications will allow us to deliver the best possible cannabis flowers and products to Florida's medical patients. Our model in collaboration with GMP and GAP certifications allows 3 Boys Farm to literally be the only cannabis cultivator in the state using organic living soil while following strict organic principles in all practices."
ASI, which is accredited by the American National Standards Institute as an SQF Certification Body, conducted the audit for 3 Boys Farm on September 3rd 2019 and found the facility met the highest possible global food and farm safety standards.
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