Investor Ideas Potcasts #Cannabis News and Stocks on the Move: Canopy Growth (TSX: WEED) (NYSE: CGC), 48North (TSXV: NRTH), Pure Global (TSX.V: PURE) (OTC: PRCNF), MYM Nutraceuticals (CSE: MYM), and AgraFlora Organics (CSE: AGRA)
Delta, Kelowna, BC - March 20, 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.
Listen to the podcast:
Investor Ideas Potcasts #Cannabis News and Stocks on the Move: Canopy Growth (TSX: WEED) (NYSE: CGC), 48North (TSXV:NRTH), Pure Global (TSX.V: PURE) (OTC: PRCNF), MYM Nutraceuticals, (CSE: MYM)and AgraFlora Organics (CSE: AGRA)
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 Canopy Growth Corporation (TSX: WEED) (NYSE: CGC), 48North Cannabis Corp. (TSXV:NRTH), Pure Global Cannabis Inc. (TSX.V: PURE) (OTC: PRCNF), MYM Nutraceuticals Inc., (CSE: MYM) (OTCBB: MYMMF) and AgraFlora Organics International Inc. (CSE: AGRA) (OTCPK: PUFXF).
Canopy Growth Corporation and HollyWeed Manufacturing & Extracts Inc. announced today that they have entered into a multi-year processing and extraction agreement. HollyWeed North Cannabis Inc., the parent company of HollyWeed Manufacturing & Extracts Inc., is a female-led, LGBTQ2-positive company based in British Columbia that operates several subsidiaries specializing in the growth, manufacturing, licensing, and production of cannabis and other pharmaceutical grade products.
Under the terms of the two-year agreement, HollyWeed Manufacturing & Extracts Inc. will process dried cannabis provided by Canopy Growth, in their advanced manufacturing facility in Victoria and will return the high-quality oil and resin back to the Company. The increased supply of this contracted extraction throughput adds to the Company's in-house capacity and supports Canopy Growth with additional throughput as it brings a suite of new products to the market later this calendar year. The extraction services provided by HollyWeed will build on the Company's own in-house manufacturing and production based in Smiths Falls, Ontario and will extend Canopy Growth's production commitment in British Columbia, where it currently has more than three million square feet of fully operational grow space located in Delta and Aldergrove.
"This is an opportunity for Canopy Growth to build a strong partnership with another high-quality Canadian company. The cannabis resin we get from HollyWeed will be used for our current offering of oils and softgels, as well as our future advanced manufacturing products," said Bruce Linton, Chairman and co-CEO of Canopy Growth. "Ensuring we continue to offer the highest quality cannabis oil and resin will be essential for our entry into the edibles market and supports our overall goal of making a wide variety of high-quality products available to our customers."
"The addition of 48North to the HMMJ signals market validation of the Company's strong position in the Canadian cannabis industry. 48North's inclusion, along with a select group of its peers, is a proof-point that the Company is being watched closely by the investment community. Investors are taking note of the disruptive potential that, pending Health Canada's approval, 48North's significant outdoor cultivation will have on the industry as a whole," said Alison Gordon, co-CEO of 48North.
In addition to the HMMJ, 48North is also listed on the Horizons Emerging Marijuana Growers Index ETF (TSX:HMJR), a select group of primarily North American publicly-listed companies involved in the cultivation, production and/or distribution of marijuana.
Pure Global Cannabis Inc., an integrated, growth-oriented life sciences and consumer products cannabis company, through its wholly-owned subsidiary PureSinse Inc., a Health Canada licensed producer under The Cannabis Act, announced a partnership with Velvet Management Inc., to be its Canadawide sales and distribution agent for its premium wellness, recreational, and craft cannabis products to be sold through provincially licensed stores and online retailers.
Velvet, a company created by the largest wine distributor in Canada, Philippe Dandurand Wines Ltd., will serve to ensure a strong retail and brand presence for Pure Global's non-medical lines of cannabis products with provincially regulated channels. With sales teams in every province, Velvet brings a deep expertise with driving brand visibility and commercial retail presence.
Dandurand is the largest wine importer/agent in Canada, responsible for over 4 million cases or $625 million of annual sales volume across 3,000 retail points, with the largest wine salesforce in the country. One in ten imported bottles of wine in Canada is sold by Dandurand. In operation for over fifty years, with 125 employees in Calgary, Montreal, Toronto, and Vancouver, Dandurand has won Partner of the Year for the last three years by the Liquor Control Board of Ontario ("LCBO"). The LCBO operates the Ontario Cannabis Store and will distribute cannabis to provincially licensed retailers. Velvet Management is dedicated to the cannabis sector and will duplicate the model that achieved them the number one status in the wine category.
MYM Nutraceuticals Inc., announced that it has increased its stake in Colombia Organica to 80%.
Colombia Organica currently holds 3 licenses which include: production of cannabis derivatives, cultivation of psychoactive cannabis, and cultivation of non-psychoactive cannabis. Licenses include the capacity to export. Colombia Organica has submitted an application to certify cannabis seeds for commercialization. In addition, it holds a lease for a 36-acre property located 44 kms from Medellin. The region's climate is conducive for growing cannabis with an average temperature of 16-18 °C, and an elevation of 2,475 meters above sea-level. They have secured an option to buy the property.
MYM and Colombia Organica are building a production facility near Medellin, Colombia for the cultivation and processing of cannabis and cannabis products. Currently, Colombia Organica is developing and registering seed strains with the Colombian Agricultural Institute.
MYM will acquire eighty 80% of Colombia Organica from its existing shareholders for consideration of cash, equity and loans to the company for a total package of up to $2.26 million. MYM will employ Colombia Organica principals Daniel Alonso and Gabriel Ramirez as Territory Managers for South American operations.
AgraFlora Organics International Inc., a growth oriented and diversified international cannabis company, announced that it is acquiring an additional 10% of the shares of Propagation Services Canada Inc. for $14 million payable by common shares of AgraFlora at a price of $0.68 per share, equivalent to 20,588,235 common shares. The transaction has been agreed to in principle and approved by both boards of directors of AgraFlora and PSC. Following the transaction, the ownership of PSC will consist of AgraFlora as to 60%, the Houwelings Partnership Group as to 30% and the investors of Delta Organics Cannabis Corp. ("DOCC") as to 10%.
"It is important for AgraFlora to continue to have a majority stake in the joint venture company Propagation Services Canada," said Derek Ivany, President and CEO of AgraFlora. "The Delta Greenhouse Complex will become our marquee facility with 2.1 million square feet of greenhouse space and 100,000 square feet in production facilities. Progress on the retrofit continues to be on target and we expect to submit our licensing application video to Health Canada by the end of June."
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