Investor Ideas Potcasts #Cannabis News and Stocks on the Move: Village Farms (TSX: VFF) (NASDAQ: VFF), Westleaf (TSX-V: WL) (OTCQB: WSLFF), Canopy Rivers (TSXV: RIV), Gabriella's Kitchen (CSE: GABY) and Harvest One (TSXV: HVT) (OTCQX: HRVOF)
Delta, Kelowna, BC - April 1, 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: Village Farms (TSX: VFF) (NASDAQ: VFF), Westleaf (TSX-V:WL) (OTCQB:WSLFF), Canopy Rivers (TSXV: RIV), Gabriella's Kitchen (CSE: GABY) and Harvest One (TSXV: HVT) (OTCQX: HRVOF)
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 will be looking at announcements from Village Farms International, Inc. (TSX: VFF) (NASDAQ: VFF), Westleaf Inc. (TSX-V:WL) (OTCQB:WSLFF), Canopy Rivers Inc. (TSXV: RIV), Gabriella's Kitchen Inc. (CSE: GABY) and Harvest One Cannabis Inc. (TSXV: HVT) (OTCQX: HRVOF).
Village Farms International, Inc. today announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has exercised its option on the existing 1.1 million square foot Delta 2 greenhouse facility currently owned by Village Farms in Delta, British Columbia. The Delta 2 facility is a newer, nearly identical "sister" facility immediately adjacent to the 1.1 million square foot Delta 3 greenhouse facility, which is already one of the largest cannabis production operations in the world.
The addition of the Delta 2 greenhouse operation doubles Pure Sunfarms' total production area to 2.2 million square feet and, with conservatively targeted annual production of approximately 75,000 kilograms of dried cannabis, doubles its annual cannabis production potential to approximately 150,000 kilograms. Pure Sunfarms also expects to benefit from further economies of scale resulting from the concentration of 2.2 million square feet of production area at a single location, which will further support the Company's goal to be the high-quality, low-cost cannabis producer in Canada. The existing automated propagation operation (nursery) in the Delta 3 facility will provide propagation for the Delta 2 facility, enabling more of the footprint of the Delta 2 facility to be devoted to flower rooms than in Delta 3, which is expected to generate further cost efficiencies.
"With an ongoing shortage of supply from Canadian cannabis producers, Village Farms is thrilled that Pure Sunfarms' has made the decision to more than double its production capacity with the addition of Delta 2 - just three weeks after the option became exercisable," said Michael DeGiglio, Chief Executive Officer, Village Farms and Co-Chair, Pure Sunfarms.
Westleaf Inc. announced that it has launched its e-commerce site for sales across the entire province of Saskatchewan. The retail site at www.prairierecords.ca, provides consumers in the province convenient online access to a wide variety of products through the unique Prairie Records retail concept, which combines music and cannabis in an engaging online experience.
"The launch of online retail is an important next step in rolling out the Prairie Records brand across Saskatchewan and the rest of Western Canada over the coming months," said Scott Hurd, President and CEO of Westleaf. "The province of Saskatchewan has proven to be a positive regulatory environment to launch our retail operations and we are pleased it is the first jurisdiction with a Prairie Records online presence."
Canopy Rivers Inc. announced that its portfolio company, James E. Wagner Cultivation Corporation (TSXV: JWCA) (OTCQX: JWCAF), has received its cultivation licence from Health Canada for its Kitchener-based commercial scale production facility. This second licence launches the initial phase of JWC2, a 345,000 square foot production and distribution complex where JWC is rolling out more than 130 individual production rooms utilizing JWC's proprietary GrowthSTORM™ Dual Droplet cultivation platform and methodologies. With the newly licenced facility located just minutes from JWC's already licenced pilot facility, JWC is well-positioned for an efficient ramp-up and expects to commence cannabis production at JWC2 immediately.
"While optimizing production methodologies at their already licenced pilot facility, JWC has concurrently built out and implemented refinements and learnings for production at commercial scale," said Daniel Pearlstein, EVP, Strategy, of Canopy Rivers. "We are pleased to see Health Canada reward JWC for the quality of their operations, and their disciplined approach to expansion with the issuance of this second site licence."
Gabriella's Kitchen Inc., an innovative and leading-edge cannabis wellness company, announced the completion of its acquisition of all of the issued and outstanding shares of Sonoma Pacific Distribution, Inc., California's premier, independently-owned cannabis distribution company, which was previously announced on October 23, 2018. With the closing of the Acquisition, GABY gains an expansive distribution reach across the state of California, which currently represents the world's most thriving cannabis market as well as a permanent cannabis distribution license that was issued to Sonoma Pac by the California Bureau of Cannabis Control and the County of Santa Rosa on March 14, 2019.
"With the support of GABY and its executive team as well as the ability to leverage GABY's infrastructure, Sonoma Pac realized a record-breaking first quarter of 2019. For the three month period ending March 31, 2019, it is estimated that Sonoma Pac generated revenue that exceeds CDN$8 Million1 from the sale of our proprietary products," stated Aaron Browe, President of Sonoma Pac. "That number represents a massive 1,200% increase over same quarter last year."
Harvest One Cannabis Inc. announced today that it has acquired an initial 52% interest in Greenbelt Greenhouse Ltd. , an Ontario private company located in Hamilton, Ontario.
This strategic acquisition will supply Harvest One with high quality greenhouse grown cannabis from Greenbelt's 152,000 sq. ft. facility which will primarily be dedicated to Harvest One's expanding cannabis-infused health, wellness, and self-care products under the Dream Water and Satipharm brands, and expanding products resulting from the recently announced acquisition of Delivra, following the closing of that transaction. The Transaction ensures that Harvest One remains a vertically integrated house of brands by controlling the production of cannabis through cultivation and extraction, and ultimately to packaged goods for consumers.
In addition to the greenhouse, the Greenbelt facility also has a 42,000 sq. ft. headhouse which is an ideal location for future extraction and processing capabilities. Greenbelt has an application pending with Health Canada for a standard cultivation license and a standard processor license under the Cannabis Regulations.
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