Investor Ideas Potcasts, Cannabis News and Stocks on the Move May 9th (NYSE: CGC) (TSXV: RIV) (NYSE: ACB) (CSE: AHG) (CSE: THC)
Delta, Kelowna, BC - May 9, 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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Investor Ideas Potcasts, #Cannabis News and Stocks on the Move May 9th (NYSE: $CGC) (TSXV: $RIV.V) (NYSE: $ACB) (CSE: $AHG.C) (CSE: $THC.C)
Today's podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "potcasts", looking at cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today's podcast I look at a few of the day's earlier announcements.
But first, Gov. Doug Burgum has signed a bill into law making North Dakota the 25th state in the nation to eliminate the threat of jail time for possession of small amounts of marijuana.
HB 1050 reclassifies possession of up to a half ounce of marijuana by adults 21 and older as an infraction punishable by no jail time and a maximum fine of $1,000. Previously, it was a misdemeanor punishable by up to 30 days in jail in addition to a fine. The bill also reclassifies penalties for possession offenses involving amounts greater than a half ounce, and it calls on the Legislative Assembly to "consider studying the implications of the potential adoption of an initiated measure allowing the use of recreational marijuana." A more detailed summary of HB 1050 is available here.
"This legislation is far from ideal, but it is a substantial step in the right direction," said Matthew Schweich, deputy director of the Marijuana Policy Project. "It is very encouraging to see a conservative state like North Dakota acknowledge and rectify the injustice of jailing people for possession of small amounts of marijuana. Lawmakers can no longer ignore public support for marijuana policy reform, which is growing quickly in every part of the country."
Gov. Burgum also recently signed a series of bills designed to expand and improve access to medical marijuana for patients registered under North Dakota's existing medical marijuana law, which voters approved in 2016.
As well, after the first year as a unified national industry association, and with the framework of cannabis legalization firmly established, the Cannabis Council of Canada has announced its newly elected Board of Directors. As the association embarks on its second year of operations, the Board is tasked with supporting its members and continuing to work with key stakeholders on the advancement of the legal cannabis industry in Canada and around the world.
C3's general membership represents almost 90% of Canada's legal cannabis industry, and has elected the following individuals to the Board:
Megan McCrae - Aphria Inc., Board Chair
John Fowler - The Supreme Cannabis Company, Vice Chair, Adult Use
Philippe Lucas - Tilray, Vice Chair, Medical
Darren Karasiuk - Aurora Cannabis Inc.
Alison Gordon - 48 North Cannabis Co.
Jeff Jacobson - Cronos Group
Jeff Ryan - Canopy Growth Corporation
Ray Gracewood - Organigram
Isabelle Robillard - HEXO Corp.
Gerald Proctor - Sundial Growers Inc.
Ruth Chun - Newstrike/UP Cannabis
The board members bring a wealth of diverse experience in the following areas: scientific research, marketing and communications, strategy and innovation, market analysis, business development, government relations, policy development, law and non-profit.
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced today that it has signed an offtake agreement with PharmHouse Inc., a 49 per cent-owned joint venture of Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF). Under the terms of the agreement, PharmHouse has agreed to allocate high quality cannabis flower from an additional 20 per cent of the flowering space available at its Leamington greenhouse facility over the next three years.
Boasting 1.3 million square feet of greenhouse grow space, and leveraging the resources of Canopy Growth, Canopy Rivers and its joint venture partner have worked diligently since October 2018 to prepare the facility for licensing. PharmHouse will leverage Canopy Growth's genetics - selected and supplied by the Company - and flower will be returned to the Company to be sold under Canopy Growth's diverse brands and banners. Under the terms of the new offtake agreement, PharmHouse is committed to producing GMP-certified, high quality cannabis flower within 18 months of its cultivation license and the flower must comply with the Company's high standards for cannabis quality. GMP, or Good Manufacturing Practices, certification is the internationally recognized system to ensure all produced goods meet the highest consumer health and safety standards, allowing the Company to export the flower to its international divisions. Including this new agreement, 30 per cent of PharmHouse's total flowering space has been committed to Canopy Growth.
"We have witnessed Canopy Rivers and its joint venture partner pour their hard work into the PharmHouse facility in Leamington and couldn't be more satisfied with how it has turned out," said Bruce Linton, Chairman & Co-CEO of Canopy Growth Corporation and Chairman & CEO of Canopy Rivers. "We expect the same for the flower quality that PharmHouse will be providing to Canopy Growth. This is further evidence that the ecosystem model we had hoped for from Canopy Rivers is demonstrating its value and this new offtake agreement with PharmHouse speaks to how well we are managing our numerous assets."
Following that, one of America's most influential tastemakers, best-selling author and business executive Martha Stewart will speak at the World Cannabis Congress (WCC) in Saint John, NB being held this June 16-18. Stewart is an example of big brands and high-profile personalities that are entering into the cannabis space as outdated stigma gives way to mainstream growth opportunities.
"I look forward to sharing my knowledge and experience in the lifestyle space with this tailored audience," says Stewart. "As I begin to collaborate on products for the CBD market, and as the demand for these types of product grows, I'm very interested in the conversations and connections at this event."
The World Cannabis Congress is renowned for convening major influencers, thought leaders, policy makers and government officials to help shape and advance the cannabis industry worldwide. The curated, invite-only event is one of the most sought-after tickets in the industry, bringing together the right people in the right place at the right time to drive the industry forward. Stewart's participation comes at a time when interest in CBD and cannabis-infused food and beverages have become hot topics, with Canada set to legalize edibles later this year.
"Martha Stewart is the perfect example of where the cannabis industry is headed," says Derek Riedle, Publisher of Civilized. "This is an industry that's quickly moved from the backroom to the boardroom. We're able to attract phenomenal, top-tier talent and experts like Martha Stewart because of the legitimacy the cannabis industry is amassing, as well as the calibre of the audience we have in the room at WCC. We can't wait to hear what Martha Stewart has to say about expanding her brand in this new market."
Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) announced today that the Company, through its wholly owned subsidiary Aurora Deutschland, has been selected by the Luxembourg Health Ministry as the exclusive supplier in a public bid to supply a second delivery of medical cannabis to Luxembourg.
Under the terms of the bid, the medical cannabis produced will be sold to Luxembourg's Division de la Pharmacie et des Medicaments, representing the second time the Company has received an order directly from the Luxembourg government. While the initial bid quantities are small, the award confirms Aurora's position as a trusted and preferred supplier to international jurisdictions and reflects the Company's ability to work with local governments and regulators in complex, restricted markets.
"We are proud to continue serving as the exclusive supplier of medical cannabis to the Luxembourg Health Ministry," said Neil Belot, Chief Global Business Development Officer. "Adding to the many achievements of our European team, which also includes our recent selection as one of only three companies to establish domestic production in Germany, our expanded supply agreement with Luxembourg reinforces Aurora's ability to act as a trusted partner that can readily meet the complex needs of diverse international markets."
Alternate Health Corp., (CSE:AHG) (OTCQB:AHGIF), an international leader in technology and extraction solutions for the regulated cannabis industry, announced today a key step forward in the Company's pharmaceutical-grade CBD product manufacturing strategy, having signed a joint venture agreement with Oltecate Enterprises, a COFEPRIS-licensed Mexican CBD distributor, with an eye for expansion throughout Latin America.
Alternate Health's expansion into the Latin American CBD market complements the Company's recent US$20 million acquisition of Blaine Labs, previously announced on May 5, 2019. With 23 years of experience producing FDA-approved and cGMP-certified medical products, Blaine Labs is uniquely positioned to manufacture a wide range of CBD products that meet international export standards. As Alternate Health rapidly expands Blaine Labs CBD product line, the Company expects Mexico to be a key growth market for future sales and a jumping off point for further distribution throughout Latin America.
"With this acquisition, we are taking another major step in consolidating the global CBD market," says Howard Mann, CEO of Alternate Health. "We now boast the addition of nation-wide Mexican CBD licenses to our hemp-based medical product assets, including extraction, distribution and product development."
Based in Tecate, Baja California, Mexico, Oltecate's headquarters are strategically located along the US-Mexican border with California. Oltecate currently holds four federal CBD licenses issued by COFEPRIS, the Mexican equivalent of the U.S. Food and Drug Administration (FDA). Currently, Mexican law prohibits cannabis and hemp cultivation and extraction, but imports of CBD products are legal with the appropriate COFEPRIS license. These licenses allow Alternate Health to import and distribute products in numerous growing markets across Mexico.
THC BioMed Intl Ltd. (CSE: THC) THC BioMed reported that it has entered into an agreement with the BC Liquor Distribution Branch ("BCLDB") to supply a number of its products exclusively to British Columbia.
The agreement was entered into after the BC Liquor Distribution Branch (BCLDB) met with THC BioMed management and toured THC's flagship facility in Kelowna B.C.
The BCLDB will provide purchase orders to THC BioMed for the product quantities listed in the appendix to the agreement three months in advance of the available supply month.
- THC BioMed Ltd. has committed to:
- Supplying all produced dried flower product intended for the non-medical market, exclusively to the BCLDB until December 2019;
- Maintaining Wholesale Cost incl. Excise as listed in the appendix to the Agreement until December 2019; and
- Supplying the product as per the quantities and schedule listed in the appendix to the Agreement.
THC BioMed has agreed to exclusively supply the BCLDB with several flower strains in 3.5-gram and 7-gram formats until December 2019.
"We are proud that our products will be featured in our home province of BC. We continue to strive to produce cannabis products that are pure, clean and potent. We also look forward to launching THC Kiss, a pure organically produced cannabis beverage, when regulations permit" commented John Miller, CEO and president of THC BioMed.
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