Investor Ideas 'Potcast'; Investor Ideas 'Potcast'; #Cannabis News and Stocks on the Move - Canopy Growth (TSX: $WEED.TO, NYSE: $CGC), Maricann Group, Sunniva
Pt. Roberts, WA; Delta, BC - May 30, 2018 (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 its new series, Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts.
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Investor Ideas 'Potcast'; #Cannabis News and Stocks on the Move; Canopy Growth, Maricann Group, Sunniva Inc.
Today's podcast overview/transcript:
Good afternoon and welcome to another Investorideas.com potcast - looking at cannabis news, stocks to watch as well as insights from thought leaders and experts. Today we are looking at announcements from Canopy Growth (TSX: WEED, NYSE:CGC), Maricann Group Inc. (CSE:MARI and OTCQB :MRRCF), and Sunniva Inc. (CSE: SNN and OTCQX: SNNVF).
First looking at Canopy Growth Corporation who announced that the they've acquired Daddy Cann Lesotho PTY Ltd., trading as Highlands.
Based in the Kingdom of Lesotho, Highlands holds a license to cultivate, manufacture, supply, hold, import, export and transport cannabis and its resin. Lesotho is a high altitude mountainous kingdom that boasts over 300 days of sunshine per year and was the first African nation to legalize medical cannabis in 2017. It has ideal humidity and growing conditions for greenhouse cultivation. Together with very low operating and resource costs, this places Canopy Growth in a position to produce large quantities of high quality medical cannabis at a low cost. Lesotho is also strategically positioned for the future medical cannabis economy of Southern Africa including the potential market of South Africa, with a population of over 55 million people, where medical cannabis laws are being developed.
"Lesotho is Canopy Growth's first step into Africa and we look forward to working with the strong local team at Highlands to establish production and distribution capabilities consistent with Canopy's global standard for high-quality, regulated medical cannabis products," said Mark Zekulin, President, Canopy Growth.
Combining the domestic and regional knowledge of Highlands with the global experience and expertise of Canopy Growth is the latest example of the Company establishing a meaningful local presence. With the objective of future local production to serve the regional market, these operations are part of Canopy Growth's commitment to the Lesotho economy including supporting job creation and lasting community engagement.
All key members of Highlands's management team will continue to lead the organization as part of the Canopy Growth family.
"We're excited to join the Canopy Growth family and bring together our strong entrepreneurial experience and local knowledge in the region with Canopy Growth's track record and quality standards in the global medical cannabis industry," said Jody Aufrichtig, Founder, Highlands. "Lesotho and Southern Africa have enormous potential and we look forward to building a responsible medical cannabis business across the region."
Maricann Group Inc. reported its financial and operating results for the first quarter ended March 31, 2018 and has filed the full report on SEDAR. All figures are stated in Canadian Dollars. Maricann recognized revenue of $600,591, down from $1,143,167 in Q1 of 2017. The decline in revenue can be explained by the timing of a large bulk transaction of Switzerland-based cannabis cultivator HAXXON AG which subsequently closed in Q2. As a result, current sales for Q2 of 2018 total approximately $905,000 to date (unaudited).
Consistent with previous guidance, the Company is positioned for export to the European market, having achieved European Medicines Agency Good Manufacturing Practice (EMA-GMP) certification for its facilities at 150 8th Concession Road, Langton ON ("Site 150"), a prerequisite to export cannabis to the European Union. Additionally, the Company is preserving inventory for both export to Europe and the adult use market in Canada, when legal.
"We maintain our position that establishing sustainable baskets of margin for our products that will be preserved over the long term is more important than immediate gross revenue. We base all our business decisions in the interest of long term value creation for our shareholders," Stated Ben Ward, CEO.
Some Other Highlights for the quarter include:
- Strengthened the Company's balance sheet by raising $40,250,000 by way of private placement.
- Positioned with Provinces for supply to the upcoming recreational market.
- Signed an exclusive agreement with Colorado-based Rare Dankness to provide their award-winning genetics to the Canadian market. Rare Dankness is a multi-year winner of the prestigious Amsterdam Cannabis Cup.
- The first room in phase 1 of Maricann's world class grow facility was ready for cultivation. Subsequently, the Company received its third License from Health Canada to move ahead with cultivation activities and is now propagating 2,639 plants in the new facility.
And finally, Sunniva Incorporated's wholly-owned subsidiary, Natural Health Services Ltd. ("NHS"), Canada's largest referral network of medical cannabis patients to Licensed Producers in Canada, held an open house for media and the public, today at the grand opening of its clinic located at 7900 Anchor Drive in Windsor, Ontario. The facility is one of seven owned and operated patient-centric clinics operating in Alberta, Saskatchewan, Manitoba and Ontario.
NHS provides consultation, medical cannabis education and an introduction to the products and strains available through Licensed Producers across Canada. NHS clinics are staffed by physicians, nurses, educators and patient care representatives on-site.
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