Investor Ideas #Potcasts #Cannabis News and Stocks on the Move: TSXV: $OGI.V, TSX: $ACB.TO, CSE: $MDM.C
Delta, Kelowna, BC - September 14, 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: TSXV: $OGI.V, TSX: $ACB.TO, CSE: $MDM.C
Today's podcast overview/transcript:
Good morning 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 will be looking at announcements from Organigram Holdings Inc. trading on the TSX VENTURE as OGI, Aurora Cannabis Inc. trading on the TSX as ACB and the OTCQB as ACBFF and Marapharm Ventures Inc. trading on the CSE as MDM,
Organigram Holdings Inc., the parent company of Organigram Inc., a leading licensed producer of medical marijuana, updated the market on its proposed investment in Eviana Health Corporation. This information is meant to update and replace the information previously disseminated by Organigram on June 4, 2018 regarding a proposed investment in Eviana.
Organigram has signed a term sheet to participate as to 50% in a private placement debenture offering by Eviana comprised of 10,000 debenture units of Eviana, each consisting of: (i) $1,000 principal amount of senior unsecured convertible debentures of Eviana and (ii) one half of one common share purchase warrant of the Company. The balance of the Debenture Offering is proposed to be acquired by an institutional strategic investor.
Each full Warrant shall be exercisable by the holder thereof for 870 Common Shares in the capital of Eviana at an exercise price per Warrant Share of $1.30 for a period of 24 months from the closing date of the Debenture Offering. The Debentures will be convertible at a conversion price of $1.15 per Common Share at the holder's option, or upon mandatory conversion at the request of Eviana in the event that at any time following four months plus one day following the Closing, for any ten consecutive trading days, the daily volume weighted average closing price of the Common Shares on the CSE is greater than $2.15.
The Debenture Offering is expected to be completed on or about September 27, 2018, or such earlier or later date as the Strategic Investor, Organigram and Eviana may determine.
Organigram Holdings Inc. also announced that the Company has signed a supply agreement with the Newfoundland and Labrador Liquor Corporation (NLC) in anticipation of the launch of a legal, adult use recreational cannabis market in the province.
"We are pleased to have been accepted as a supplier to NLC," says Greg Engel, Organigram's Chief Executive Officer. "At Organigram, we are very proud of our Atlantic Canadian roots and the opportunities we have to offer our neighbours a broad choice of high-quality cannabis products."
According to the terms of the agreement, Newfoundland and Labrador cannabis retailers will have access to almost 100% of Organigram's entire product portfolio. Organigram will also play a role in the province's e-commerce plans, allowing for consumers to order directly on-line.
Aurora Cannabis Inc. and Australis Capital Inc. today announced the common shares and warrants of Australis are expected to commence trading on the Canadian Securities Exchange under the trading symbol "AUSA" at the opening of trading on September 19, 2018 immediately following the completion of the distribution of Units by Aurora to its shareholders.
To date, the medical use of cannabis is legal in 31 states, the District of Columbia and the territories of Guam and Puerto Rico. Nine states plus the District of Columbia have proceeded with consumer legalization. While momentum continues to build at the state level, cannabis remains a Schedule 1 controlled substance at the under the federally governed Controlled Substances Act. Consequently, the U.S. cannabis market is fragmented in nature and includes many high-quality operations and technology innovators with limited access to capital. This has created a compelling opportunity for well capitalized Canadian companies to invest in U.S. assets, especially considering anticipated market growth, with over 50% of the U.S. population currently living in states with legal access.
Recent changes in U.S. federal positioning with respect to cannabis have positively impacted the perception of risk to invest in U.S. cannabis assets. This has further incentivized capital market participants to seek opportunities to fund U.S. based operations.
Australis synthesizes decades of relevant expertise, its strong historical relationship with Aurora Cannabs and other strategic relationships, and capital investment execution to build value in the cannabis value chain in the United States. Targeting investments in cannabis and associated real estate opportunities, Australis is well positioned for early-stage access to attractively priced opportunities. Following an oversubscribed, non-brokered private placement, raising gross proceeds of $17 million, Australis is aggressively identifying high quality investment opportunities with strong growth potential. Australis has assembled a management team with significant U.S. capital markets, operating and regulatory compliance experience governed by an industry best board of directors and deeply rooted cannabis investment advisory committee.
Through aggressive and disciplined investment, access to capital markets, Australis will leverage strategic relationships with Aurora Cannabis and others to maximize deal flow and discounted investments.
Marapharm Ventures Inc. reported that Green Leaf Wellness Dispensary made profitable progress during the six-month California regulatory transition period to MAUCRSA (Medicinal and Adult-Use Cannabis Regulation and Safety Act).
During the transition period, January 1, 2018 to June 30, 2018, cannabis businesses were forced to sell their inventory of noncompliant flower, edibles and concentrates before the new stringent regulations of July 1, 2018; after which date all noncompliant products would have to be destroyed.
Management and staff at Green Leaf Wellness Dispensary took exemplary measures to prepare for the new regulations and have shown increase to profits and higher traffic volumes.
Their Manager was pre-emptive, placing orders for compliant product well in advance and ensuring its delivery by July 1st. In addition, restructuring the marketing of noncompliant product prior to the deadline with minimal loss to the dispensary.
Many dispensaries in the surrounding area suffered losses and were forced to close, due to lack of planning and access to compliant product. The United Cannabis Business Association (UCBA) estimated $400 million in losses of unsold and destroyed cannabis in California after July 1, 2018.
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