Investor Ideas 'Potcast'; #Cannabis News and Stocks on the Move; Cannabis Wheaton (TSX V: $CBW.V), ICC Labs (TSXV: $ICC.V), WeedMD (TSXV: $WMD.V), MYM Nutraceuticals (CSE: $MYM.C)
Pt. Roberts, WA; Delta, BC - May 31, 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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Investorideas.com potcasts - cannabis news and stocks to watch; Cannabis Wheaton, WeedMD, MYM Nutraceuticals
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 Cannabis Wheaton Income Corp. (TSX V: CBW), ICC Labs Inc. (TSXV: ICC), WeedMD Inc. (TSXV: WMD and OTC: WDDMF), MYM Nutraceuticals Inc
Cannabis Wheaton Income Corp. announced the closing of its previously announced bought deal public offering of 82,225,000 units of the Company at a price of C$1.40 per Unit for gross proceeds of $115,115,000. The syndicate of underwriters for the Offering was led by BMO Capital Markets, together with AltaCorp Capital Inc., Mackie Research Capital Corporation and INFOR Financial Inc.
The Company plans to use the net proceeds from the Offering for capital expenditures relating to domestic and international operations and capacity expansion, for potential new investment opportunities and for general working capital purposes.
ICC Labs Inc announced that it has filed its interim financial results for the first quarter of this year.
The financial statements are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on ICC Labs' website at www.icclabs.com.
During the first quarter of 2018, the Company continued to take steps to expand its footprint in the Latin American market, and to gain access to the European and Canadian markets. The Company's investment in Global Group Kalapa S.L., a Spanish company based in Barcelona, is part of ICC Labs' strategy to gain a foothold in the European markets, and in particular with respect to B2B distribution channels for the Company's 'BIDIOL' branded CBD oil and other products it intends to sell. This investment remains subject to TSX Venture Exchange approval.
Having obtained all medicinal cannabis production licenses currently available in Colombia, ICC Labs became the first company to become fully licensed in two low cost jurisdictions in Latin America. Further, in Colombia, the Company continues to build its 124,000 sq. ft. greenhouse to grow THC plants and prepares for its first outdoor hemp crop on 250 acres that it expects to commence sowing in June, also subject to approval of the TSX Venture.
The Company has also proceeded with the construction of its CO2 extraction laboratory in Uruguay which has an expected annual capacity of 150,000 kg of dry flowers and is being built in accordance with international Good Manufacturing Practices (GMP) guidelines. The Company expects the laboratory to be completed by the end July. In the interim, the Company has completed the construction of a temporary extraction laboratory in Uruguay where its first CBD extracts will be produced.
WeedMD Inc. who is a federally-licensed producer and distributor of medical cannabis, has reported its financial and operating results for the first quarter of this year.
The company reported revenues of $1.14 million with sales up 33%. The revenues consisted of the sale of dried medical cannabis, live cannabis plants and cannabis oils, to both patients and through wholesale B2B channels. The Company also maintained a strong cash balance of $48 million as of the end of the quarter.
Other highlights for the quarter included closing the previously announced, oversubscribed $34.5 million bought deal equity financing and commencing the sale of cannabis oil products under the company's Entourage™ and Axis™ brands. The company also appointed Kevin McGovern, chairman of McGovern Capital and founder of the beverage company SoBe, as a board director, as well as Dr. Jonas Vanderzwan, a physician with more than 15 years of primary care experience, as Medical Director and Chair of the Clinical Advisory Board.
The rest of the company's financial and operational results can be found on SEDAR.
Next MYM Nutraceuticals Inc., announced the hiring of Joel Lalancette as Master Grower at the company's 1.5 million square foot medicinal cannabis greenhouse facility, currently under construction in Weedon, Quebec.
Mr. Lalancette brings with him thirteen years of experience in the greenhouse industry. He is an integrated operator who has been a leader in establishing numerous greenhouse businesses. His most recent experience saw him establish himself as one of Quebec's largest producers of microgreens.
Finally, WelCan Capital a cannabis-focused venture capital firm, announced the launch of the first impact investment fund focused on bolstering the cannabis industry and addressing the challenges and injustices stemming from cannabis prohibition. Leveraging a 'people + purpose + profits' philosophy, the new fund will invest in four core verticals across plant-touching and ancillary businesses in the cannabis sector: Business Services, Emerging Technology, Software and Licensed Operations.
"The lack of institutional capital in the space creates a compelling opportunity for investors," said Vikas Desai, partner at WelCan Capital. "Our focus is to drive performance, while also playing a vital role in shaping the future of key issues today: sustainability, medicinal research, criminal justice reform and our nation's opioids crisis.
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