Investor Ideas #Potcasts; #Cannabis News and Stocks on the Move; TSX: $APH.TO, TSX: $HEXO.TO, CSE: $MMEN.C, CSE: $MYM.C, TSXV: $VIS.V
The United States' legal cannabis market is projected to reach $11 billion in consumer spending in 2018 and more than $23 billion by 2022- Arcview Market Research
Pt. Roberts, WA; Delta, BC - June 28, 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 series, Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
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Investor Ideas #Potcasts; #Cannabis News and Stocks on the Move; TSX: APH, TSX: HEXO, CSE: MMEN, CSE: MYM, TSXV: VIS
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's podcast features news announcements from MedMen Enterprises Inc. trading on the CSE as MMEN and OTCQB as MMNFF, Aphria Inc. trading on the TSX as APH and the OTCQB as APHQF, MYM Nutraceuticals Inc. trading on the CSE as MYM and the OTC as MYMMF, Visionstate™ Corp. trading on the TSX-Venture as VIS and The Hydropothecary Corporation trading on the TSX as HEXO.
The United States' legal cannabis market is projected to reach $11 billion in consumer spending in 2018 and more than $23 billion by 2022, according to the "The State of Legal Marijuana Markets, Sixth Edition" (SOLMM6) released today by Arcview Market Research in partnership with BDS Analytics. This growth has the potential to generate more than 467,000 full-time equivalent jobs in 2022.
According to SOLMM6, despite federal prohibition the U.S. legal cannabis industry experienced 31% growth in 2017 to reach $8.5 billion. Arcview forecasts that the continuing state-by-state roll-out of medical-use programs and then adult-use legalization, will bring nationwide spending in the U.S. to $23.4 billion in 2022, growing at a 22% compound annual growth rate over that five-year forecast period.
The Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, introduced by a bipartisan group of Congressional sponsors June 7 and endorsed by President Trump June 8, would legalize that economic activity for the first time at the federal level.
"The end of marijuana prohibition is in sight and what that means for this market cannot be overstated," said Troy Dayton, CEO of the Arcview Group. "There are billions of dollars in institutional capital chomping at the bit to take advantage of this shift, but so far haven't found a major way in. This leaves a limited window for businesses to get a foothold and build value for liquidity events that might come sooner than any of us thought possible just a few months ago."
"Uruguay and Canada are leading the way on adult-use legalization, and Germany broke barriers in 2017 on medical-use availability. This means worldwide spending on legal cannabis should hit $32 billion by 2022," said Tom Adams, Editor-in-Chief at Arcview Market Research and Managing Director of BDS Analytics' Industry Intelligence Division.
MedMen Enterprises Inc. announced the forthcoming opening of its marquee location in the heart of Downtown Las Vegas.
Today, MedMen is scheduled to assume ownership and licensed operation of the New Amsterdam dispensary located at 823 3rd Street. The store will be remodeled and rebranded with MedMen's signature design. A grand reopening is planned for mid-July.
Nevada is one of the fastest growing state-sanctioned marijuana markets in the country. According to the Nevada Department of Taxation, cannabis accounted for about $386 million of the total statewide taxable sales for the period of July 2017 through March 2018, about 19.3 percent of the state's growth in taxable sales compared to the same period last year.
Aphria Inc. announced that it has closed its short form prospectus offering, on a bought deal basis, including the exercise in full of the underwriters' over-allotment option. A total of 21,835,510 common shares of the Company were sold at a price of $11.85 per Share, for aggregate gross proceeds of $258,750,794. The Offering was underwritten by a syndicate of underwriters led by Clarus Securities Inc. and included Canaccord Genuity Corp., Cormark Securities Inc., Haywood Securities Inc. and INFOR Financial Inc.
The net proceeds of the Offering are expected to be used to finance the Company's recently announced state-of-the-art Extraction Centre of Excellence, its capacity increase at Aphria Diamond, as well as the construction of additional cannabis production facilities globally in both foreign and Canadian jurisdictions where cannabis is legally permitted and the evaluation of strategic acquisitions and investments and other industry related transactions.
MYM Nutraceuticals Inc. and Sherbrooke College announced the signing of a partnership agreement to develop a training program for MYM's employees assigned to the production of cannabis. The educational curriculum will be expanded and offered as a diploma (AEC) program as part of the Sherbrooke College (CEGEP) course offerings.
Under the terms of this agreement, MYM retains the services of the Sherbrooke College (CEGEP) Continuing Education Center to develop and deliver tailor-made training and learning programs leading to a diploma (AEC) in the fields of production, agricultural management and associated laboratory techniques specific to the production of cannabis. The agreement is valid for a five-year period, beginning July 1, 2018. Upon construction of the Company's production facility in Weedon, Québec being completed, the Company anticipates using such facility to provide certain physical and technical resources to the Continuing Education Center.
Visionstate™ Corp. announced that it has made a strategic investment in Alberta-based Freedom Cannabis Incin a round of seed funding. The investment into Freedom Cannabis was made on the basis of synergies that exist between the businesses with respect to potential sensor development for monitoring production processes and opportunities to leverage solar powered backyard greenhouses for the home growing market through Visionstate's investment in Exceed Solar Inc.
The Cannabis Act was recently passed in the Canadian Senate, with production and use expected to become legal on October 17th 2018. "As the cannabis industry emerges in Canada, we see tremendous opportunity in partnering with Freedom Cannabis," says Visionstate Corp. CEO John Putters, "particularly for integrating our IoT connected sensors and solar applications into the production process."
Visionstate Inc., a wholly owned subsidiary of Visionstate Corp., is an Internet of Things (IoT) company that specializes in data collection and analytics through sensor data. The Company's core product, WANDA™, is an IoT touch-screen solution that collects information on cleaning activities, monitors supply inventories, collects foot-traffic data using people sensors and provides detailed analytics, with a reporting dashboard that enables data-driven operational decisions.
"The cannabis industry offers huge potential for sensor applications, particularly in monitoring and quality control," Putters explains. "Our relationship with Freedom Cannabis provides the opportunity to enter this potentially lucrative market."
The Hydropothecary Corporation reported its financial results for the three and nine months ended April 30, 2018, the third quarter of the 2018 fiscal year. The management discussion and analysis for the period and the accompanying financial statements and notes are available under the Company's profile on SEDAR at www.sedar.com and on its website at www.HEXO.com. All amounts are expressed in Canadian dollars.
The highlights include:
- Revenue per gram increased to $9.24 per gram equivalent from $8.99 in the prior quarter, and $8.62 in the third quarter of fiscal 2017.
- Weighted average cash cost of dried inventory sold per gram of $0.88 has decreased 57% year-over-year compared to the third quarter of fiscal 2017.
- Revenue increased 5% to $1,240,172 and the volume of medical cannabis sold increased 2% to 134,253 gram equivalents from the second quarter of fiscal 2018.
- Finalization of the commercial supplier agreement with Société québécoise du cannabis (SQDC) to supply approximately 200,000 kg of cannabis over a five-year term.
- 20,000 kg of cannabis to be supplied to the SQDC in year one of the supplier agreement post legalization.
- Cash and short-term investments of $248.9 million as at April 30, 2018, debt-free balance sheet.
- Launch of the new recreational adult-use cannabis brand HEXO.
- First plants planted in newly licensed zones of the new 250,000 sq. ft facility.
- Graduated to the Toronto Stock Exchange (TSX) from the TSX Venture Exchange (TSXV) with the common shares now trading under the symbol HEXO.
- Announcement of intention to change the Company name to HEXO Corp. from the Hydropothecary Corporation.
Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment
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