Investor Ideas 'Potcast'; #Cannabis News and Stocks on the Move; (CSE: $BE.C), (TSXV: $SCYB.V), (OTCQX: $GRWG), (TSXV: $GENE.V), (OTC: $ IVITF)
Pt. Roberts, WA; Delta, BC - May 16, 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.
Listen to the podcast: http://www.investorideas.com/Audio/Podcasts/2018/051618-StocksToWatch.mp3
Investorideas.com potcast - cannabis news and stocks to watch CSE: BE, TSXV: SCYB, OTCQX: GRWG, TSXV: GENE, OTC: IVITF
Today's podcast overview/transcript:
Good afternoon and welcome to Investorideas.com potcasts following cannabis news, stocks to watch as well as insight from thought leaders and experts. Today we are going over some of the day's cannabis highlights focusing on Beleave Inc.( CSE: BE and OTCQX as BLEVF) Scythian Biosciences Corp (TSX V: SCYB) GrowGeneration Corp ( OTCQX:GRWG) and INVICTUS MD STRATEGIES CORP (TSXV:GENE and OTC : IVITF).
Starting with a look at Beleave Inc. who announced earlier today that its wholly owned subsidiary Beleave Kannabis Corp. has received its approval and provider number to service those who have qualified for cannabis coverage through Medavie Blue Cross including the Canadian veteran community. With over 1,000,000 card holders Medavie Blue Cross is one of Canada's leading Blue Cross plans and although each card holder's benefits may differ, cannabis coverage is available to patients approved by Blue Cross
Beleave CEO Andrew Wnek was quoted saying "We aim to help provide ease of access to those with Blue Cross coverage allowing patients to cut a multitude of steps typically needed to make a claim, Our team is ready to accept new patients and are confident in our ability to provide the highest quality service to all patients including our country's respected servicemen and women."
Next looking at Scythian Biosciences Corp. who announced that Colombian-based ColCanna SAS, a company that Scythian is in the process of acquiring, has received a licence for the cultivation and importation of non-psychoactive cannabis ("CBD") by the Ministry of Justice and Law of Colombia. Additionally, ColCanna has entered into an exclusive international supply agreement for Colombia with Aphria Inc., trading on the TSX as APH.TO which is one of the larger Canadian low-cost producer of medical cannabis.
"Through the expansion of our partnership with Aphria, it is with great pleasure that I announce our entry into the Colombia market as the first supplier of Aphria's pharma grade medicinal CBD oil in the country," said CEO Rob Reid. "As we work to finalize the acquisition of ColCanna, we are eager to work hand and hand with Aphria to establish ColCanna as an international supplier of research-backed cannabis products."
ColCanna is the first cultivator to receive a licence to grow CBD in the Colombian coffee zone. ColCanna has additional pending licences to cultivate THC and for the extraction and exportation of CBD and THC extracts.
Located in a temperate climate that supports four harvests a year, the first of which is expected in late 2018, this area is ideal for year-round cultivation without the need for artiﬁcial climate control. Currently, ColCanna is constructing over 500,000 square feet of total greenhouse production space and is planning to build its laboratory for the fabrication of cannabis extracts in a warehouse in Pereira. Following construction, ColCanna anticipates these facilities will be capable of producing over 2,600,000 ml of medicinal oil per year.
"We look forward to bringing the first cannabis grown in the hallowed soil of the coffee zone to hospitals, doctors and researchers across Colombia and eventually the international market" said CEO Rob Reid. "The pure, high grade, medicinal CBD will offer those in need the highest calibre medical treatment, and advances Scythian's mission to remain on the vanguard of medical research."
GrowGeneration Corp. released their 1st quarter financial reports earlier today. GrowGeneration is one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis markets.
Some of the 1st quarter highlights included Revenue of $4.4 million, up 70% compared to revenue of $2.6 million for the 1st quarter of 2017.
Darren Lampert, Co-Founder and CEO, said, "This was another great quarter of sales for GrowGeneration, clearly demonstrating the demand for our products and the scalability of our business as we continue our expansion plans." Further, Lampert stated, "our company continues to attract capital, raising $10.2 million in debt and equity financing for the quarter, strengthening our balance sheet to $8.8 million in cash and $14.3 million in working capital. Today, we have a strong balance sheet of almost $18 million in cash and strong strategic partners in Gotham Green Partners, Merida Capital Partners and Navy Capital. Our acquisition pipeline is robust, totaling over $25 million. For 2018, the company has set revenue guidance at $37 million."
And finally looking at INVICTUS MD STRATEGIES CORP. who also made announcements today that it has entered into a binding letter of intent for an option to acquire 100% of the outstanding shares of OptionCo
OptionCo has two properties. One is located in Delta, British Columbia ("Delta Facility") and is a state of the art, pharmaceutical grade, cannabis production and research facility, which has been submitted to Health Canada for final review and approval under the ACMPR. The Company expects to receive its cultivation license for the Delta Facility in second quarter of 2018. The other property is located in Mission, British Columbia ("Mission Location"). The Mission Location application under the ACMPR has been submitted and is awaiting construction of its first 50,000 square foot state of the art, pharmaceutical grade purposed built indoor facility
Subject to completion of satisfactory due diligence, Invictus intends to enter into a definitive option agreement for the purchase of the OptionCo on or before June 30, 2018.
Dan Kriznic, CEO and Chairman commented "This is a significant milestone for Invictus as we round out our ACMPR licenses through out the country. OptionCo will give us a significant footprint in British Columbia already adding to our large footprint in Alberta and Ontario. As we continue to build out our retail and distribution strategy, we need to have additional capacity and plan to aggressively build out the expansion in the short term as we gear up for the legalization of recreational cannabis."
Invictus owns and operates cannabis companies in Canada with the vision of producing a variety of high quality and low cost cannabis products and strains to the global market place and the companies Chief Evangelist Officer is none other then music legend Gene Simmons
That's our cannabis stock news for today. Lots of acquisitions in the works which will be good to keep an eye on moving towards this Friday when the ACMPR licenses are typically issued.
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