Investor Ideas Potcasts #Cannabis News and Stocks on the Move: (TSXV: $ZENA.V) (TSXV: $PCLO.V), (TSX-V: $WL.V), (TSXV: $NINE.V), (CSE: $LDS.C), (OTCQX: $LDSYF) and (TSXV: $N.V) (OTCMKTS: $NXTTF)
Delta, Kelowna, BC - January 28, 2019 (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 Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
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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 Zenabis Global Inc. (TSXV: ZENA), PharmaCielo Ltd. (TSXV:PCLO), Westleaf Inc. (TSX-V: WL), Delta 9 Cannabis Inc. (TSXV: NINE), Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF) and Namaste Technologies Inc. (TSXV: N) (OTCMKTS: NXTTF).
Zenabis Global Inc. announced that on January 22, 2019, Zenabis completed the acquisition of 51% of Hillsboro Corp Inc. ("True Buch").
True Buch is a kombucha company with expertise in the creation of cultured tea beverages. True Buch cultured tea beverages are raw, unpasteurized, gluten free and non-GMO, with over 11 distinct flavours. Zenabis and True Buch intend to draw on each other's expertise to infuse cannabis into True Buch beverages when permitted under applicable laws and regulations, creating a cultured tea beverage CBD or THC product.
Zenabis has acquired 51% of True Buch in consideration of the issuance to the True Buch shareholders of 455,097 common shares of Zenabis. In addition to this closing payment, the True Buch shareholders are entitled to cash earn-out payments based on the future financial results of True Buch exceeding the forecast on which the closing payment was based.
Zenabis has the option, on or after the second anniversary of the date of the agreement, to purchase the remaining 49% of the equity in True Buch at eight times the EBITDA for the preceding 12 months payable in cash.
PharmaCielo Ltd., the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S., announced today its entry into the Mexican market through an equity joint venture with MINO Labs S.A. de C.V. ("MINO Labs"), a specialty pharmaceutical company and medical supply distributor based in Mexico, based on an agreement signed on January 25, 2019. The JV is called PharmaCielo S.A. de C.V. ("PharmaCielo Mexico").
The announcement marks a key milestone in PharmaCielo's plan to become a leading global exporter of high-quality medicinal-grade cannabis oils and derivative products. Cannabis oil delivery under the JV to the Mexican market is expected to commence in Q4 2019, subject to the JV and PharmaCielo obtaining the requisite registrations and licences. PharmaCielo's ability to carry out the contemplated business under the JV will be subject to the approval of the TSX Venture Exchange (the "TSXV").
"We are thrilled about the opportunity to join forces with MINO. Ultimately, our plan is to bring our high-quality cannabis oils to Mexico," says David Attard, Chief Executive Officer of PharmaCielo. "Our premium quality oils are extracted from proprietary strains of dried flower at flower cost levels below $0.05 per gram. This enables us to focus our efforts and financial investment on the creation of the highest-quality oil-based health and wellness products, which when combined with the expertise of Mino Labs, will enable the JV to participate in the advancement of the medicinal cannabis industry in Mexico."
Westleaf Inc. announced that it has signed a definitive agreement to acquire Delta 9 Cannabis Inc.'s 50% interest in the Delta West extraction facility, bringing Westleaf's total ownership to 100%. Under the Definitive Agreement, Westleaf has agreed to issue an aggregate of 5,600,000 common shares in the capital of Westleaf in consideration for the acquisition of Delta 9's 50% interest in the project. Closing is expected to occur on or about January 31, 2019.
The Delta West facility is approximately 60,000 square feet with Phase I (~15,000 sq. ft.) to include R&D, processing, extraction, manufacturing and order fulfillment, all built to EU GMP specifications with the intent to access international export markets. Phase II of the facility is designed to produce new derivative product lines in preparation of Health Canada's legalization of derivative products, expected to occur on October 17, 2019. The Delta West facility is scheduled to open in the summer of 2019.
"This transaction is another step in the direction of becoming a significant vertically integrated player in the Canadian cannabis industry," said Scott Hurd, President and CEO of Westleaf. "It is our view that over time, a diversified offering of derivative cannabis products will account for the majority of consumer demand. We are positioning to formulate unique, high quality derivative products and leverage our expertise in building and running these types of facilities." Hurd refers to the senior management team at Westleaf who have combined, designed, built and operated multiple cultivation and extraction facilities in Canada and in U.S. where medicinal or recreational cannabis has been legalized.
Lifestyle Delivery Systems Inc. announced that its subsidiary, CSPA Group, Inc., received a purchase order from lbs. Distribution for distribution of CannaStripsTM into the California cannabis market.
CSPA Group will fill the order for its flagship product, CannaStripsTM, this week. The CannaStripsTM batch has already passed state certification testing and is ready for delivery. Each package will contain ten (10) individually-sealed strips.
CSPA Group's marketing director, Casey Fenwick, stated, "With the extensive network of 120+ licensed retailers throughout California, we are certain that our engagement with lbs. Distribution will increase CannaStripsTM availability to a broader audience, doing so in a legal and professional manner. We are confident that the convenience, efficacy, and affordability of CannaStripsTM will be a market disruptor."
Namaste Technologies Inc. reported on a critical step in the export of medicinal cannabis from Israel and its significance to the Company and its Israeli partner, Cannbit Ltd.
The Israeli government has approved the export of medical cannabis, a significant milestone for the Company and its Israeli partner, Cannbit, as a late-stage applicant, GMP-certified producer of medical cannabis which is publicly listed on the Tel Aviv Stock Exchange. The Company owns 10% of Cannbit, has a collaboration and supply agreement to purchase medical cannabis, and a Collaboration Agreement whereby Cannbit consults with the Company in relation to Namaste's Israeli operations. For Namaste, the Company intends on facilitating the import of medical cannabis from the Israeli market to Canada and other jurisdictions, subject to regulatory approvals as required, and adding Cannbit's cannabis to Cannmart's product line later this year.
"This is an important milestone for our Israeli partners, Cannbit, and our Cannmart customers," said Sean Dollinger, Co-Founder, President and CEO of Namaste Technologies. "Our goal is to import medical cannabis from the Israeli market and offer it to Canadian patients. Furthermore, this approval opens the door for Namaste to potentially import product into other key markets."
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