Investor Ideas Potcasts, Cannabis News and Stocks on the Move June 21st (TSX: WEED) (NYSE: CGC) (TSXV: WL) (OTCQB: WSLFF) (NYSE: ACB) (TSX: ACB)
Delta, Kelowna, BC - June 21, 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 June 21st (TSX: $WEED.TO) (NYSE: $CGC) (TSXV: $WL.V) (OTCQB: $WSLFF) (NYSE: $ACB) (TSX: $ACB.TO)
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.
Today we are looking at a few early announcements.
But first, the Honourable Ralph Goodale, Minister of Public Safety and Emergency Preparedness, issued the following statement:
"People who have a criminal record only for simple possession of cannabis should be allowed to shed the burden and stigma of that record, making it easier to get a job, get an education, rent an apartment, travel, volunteer in their community and simply move on with their lives.
The passage of Bill C-93, An Act to provide no-cost, expedited record suspensions for simple possession of cannabis, marks an important step in closing the gap on the social injustices caused by the past criminalization of cannabis. Once in effect, this legislation will expedite the pardons process (also known as a record suspension) for people convicted only of simple possession of cannabis, taking the unprecedented step of completely eliminating the $631 application fee and the up to ten-year wait period.
This new law removes many obstacles and expenses that could prevent someone convicted of simple possession of cannabis from getting a pardon. Given the enforcement of cannabis laws in the past had disproportionate impacts on marginalized communities, particularly visible minorities, Indigenous people and those in our most vulnerable neighbourhoods, it is important for the process to be as simple, straightforward and accessible as possible.
By streamlining the current record suspension process for those convicted only of simple possession of cannabis, we are providing important relief and removing barriers to reintegration so that these individuals can benefit from the same opportunities as other law-abiding citizens."
As well, The U.S. House of Representatives approved a measure 267-165 yesterday that is intended to prevent the federal government from interfering with state laws regulating marijuana for all purposes, including adult use.
"Today's vote is the most significant step Congress has ever taken toward ending federal marijuana prohibition," said Steven Hawkins, executive director of the Marijuana Policy Project. "Congress is recognizing that the federal government must let the states decide on cannabis legalization - and not the other way around."
The bipartisan amendment, offered by Reps. Tom McClintock (R-CA) and Earl Blumenauer (D-OR) and Del. Eleanor Holmes Norton (D-DC) to the House version of the Commerce, Justice, Science and Related Agencies Appropriations Act, prohibits the Justice Department, including the Drug Enforcement Administration, from using funds to interfere in the implementation of state laws that allow the use, possession, cultivation, and distribution of marijuana. The measure is broader than previous amendments, which applied only to medical marijuana laws. Since 2014, Congress has upheld a rule preventing federal interference in states' medical marijuana programs.
The Senate is expected to take up companion legislation in the coming weeks.
Statement from Steven Hawkins, executive director for the Marijuana Policy Project:
"Poll after poll shows that an overwhelming majority of Americans believe states should be allowed to establish their own marijuana policies, and it appears most members of the House agree.
"Two in three Americans support legalizing marijuana, and more than 25% of the U.S. population lives in a jurisdiction where marijuana is legal for adults. We must protect these state laws and prevent federal arrests for people operating state-legal marijuana businesses.
"MPP has worked on this amendment since Rep. McClintock first introduced it in 2015, when it was narrowly defeated in the House (206-222). With more and more states legalizing cannabis, there clearly is no national consensus to warrant a federal ban on cannabis. It is time for Congress to step aside and let states serve as the laboratories of democracy as the Framers intended."
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced its financial results for the fourth quarter and fiscal year ended March 31, 2019. The audited Consolidated Financial Statements and Management's Discussion and Analysis for the twelve months ended March 31, 2019 will be filed on SEDAR after financial markets close today, Friday, June 21, 2019 and will be available at www.sedar.com. This press release is intended to be read in conjunction with the Company's Financial Statements and Management Discussion & Analysis, which will be available at www.canopygrowth.com and filed on SEDAR.
"The fourth quarter wraps up a historic year with major steps taken in Canada to build-out our national platform while scaling all of our processes to bring cannabis to market. The third quarter of the year benefitted from months of advanced production while the fourth quarter relied more on efficient throughput and a more automated platform," said Bruce Linton, Chairman and Co-CEO of Canopy Growth. "With more product formats coming to the Canadian market later in the year, we are working hard to ensure that we are ready to hit the ground running with products, formats and brands that Canadians trust."
Some of the highlights included achieving an annual net revenue growth of 191% to $226.3 million, generating $140.5 million of gross revenues from new Canadian recreational channel and $78.9 million in global medical sales, fourth quarter revenue growth of 13% versus third quarter with additional revenue being generated through value-added products, extraction services, and clinic partners, shipping of 24,300 kilograms and kilogram equivalents during the fiscal year, including 16,300 kilograms of dry flower and 8,000 kilogram equivalents of oil and softgels and canadian cannabis harvested is expected to increase to approximately 34,000 kilograms in Q1 fiscal 2020, with further licensed capacity still to come.
"Adding another customer-centric feature is all part of enhancing the Prairie Records brand among our customers and making it that much easier to purchase our premium products," noted Adam Coates, Chief Commercial Officer, Westleaf Inc.
Prairierecords.ca is the online e-commerce outlet of Prairie Records, a distinctive cannabis retail concept with three stores operating in the Saskatoon region. Prairie Records combines music and cannabis in a unique retail shopping experience for both the cannabis connoisseur and people new to the products. You can find a Prairie Records store at 3020 Preston Ave (Unit #170) at 720 Broadway Avenue, and in Warman, Saskatchewan at 100 2nd Ave. N.
The same day delivery service is being provided by Pineapple Express Delivery, a unique cannabis delivery company with in-depth security and delivery protocols to facilitate same-day delivery services within a defined geography. Pineapple Express has been delivering recreational cannabis since day one of legalization in Canada and medicinal cannabis for a number of years.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), today announced its plans for the highly-anticipated expansion of the consumer cannabis market into vapes, concentrates, and edibles. The Company is also preparing to launch a national public awareness campaign this fall, educating consumers, provinces and retailers about the safe usage and consumption of these new derivative products.
Through a combination of new and enhanced facilities, Aurora intends to produce new, high-quality products across the country in a variety of product categories. Aurora recently entered into a supply agreement with PAX Labs Inc., a leading consumer technology brand in cannabis. With the PAX partnership, the Company will have the market leading PAX Era device to compete in the Closed Loop category and will also launch a new range of vape products, at various price points, targeted to all major consumer markets through both 510 thread cartridges and disposable single-use units.
"Aurora is the world's leading producer of high-quality cannabis and we're ready to introduce high-value product additions to this improved, federally legal market," said the Company's CEO Terry Booth. "From the beginning, we've invested in industry-leading production and distribution technology, and in consumer research to drive products to market that consumers will desire. These things, together with the dynamic partnerships we've entered into on the accessory and technology fronts, position us well for this new market launch in December as per Health Canada's recent regulatory amendments."
On the issue of product education and awareness, Booth said: "We will show leadership when it comes to educating consumers on the safe, responsible consumption of cannabis edibles. Over the next few months we will be rolling out educational campaigns across Canada to help provide consumers with the information they need to make safe and sound decisions."
To support the successful launch of vapes, concentrates, and edibles products, and to continue to ensure sufficient supply for domestic and international markets, Aurora has established production hubs in Western Canada, on the same federal property as Aurora Sky at the Edmonton International Airport, and in Eastern Canada at Aurora River, in Bradford, Ontario and at Aurora Vie in Pointe-Claire, Quebec near Montréal. These centres will provide centralized production, packaging, logistics and distribution capabilities. In total, they comprise more than 450,000 square feet and are strategically located to efficiently distribute our products to markets across the country.
Aurora Air, a 20,000 square foot manufacturing facility, is now in the final stages of receiving its Health Canada license. Located near the Edmonton International Airport and Aurora Sky, Air will be home to several of the new production lines for edible products. New industrial extraction systems have also been installed at Aurora Sky and Aurora River.
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