Investor Ideas Potcasts, Cannabis News and Stocks on the Move July 2nd (TSXV: KHRN) (OTCQB: KHRNF), (CSE: MYM) (OTCBB: MYMMF) (NASDAQ: OGI)
Also featured in today’s potcast- (CSE: HUGE) (OTCQB: FSDDF) (TSXV: OGI), (TSX: IN) (OTCQX: IMLFF)
Delta, Kelowna, BC - July 2, 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 July 2nd (TSXV: KHRN) (OTCQB: KHRNF), (CSE: MYM) (OTCBB: MYMMF) (NASDAQ: OGI)
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, Health Minister Simon Harris signed legislation which will now allow Irish citizens access to cannabis-based products for medical use on a pilot basis for five years. The new Medical Cannabis Access Programme allows medical consultants to prescribe medicinal cannabis of a standardised quality to patients who have failed to respond to standard treatments.
Minister Harris first proposed the programme two years ago, but its passage through the Dáil was delayed amid problems finding a quality-assured supplier of medicinal cannabis able to export its products to Ireland.
Earlier this year, it was confirmed that a supplier had been identified and the legislation was finally signed this morning.
The new scheme will facilitate access to medical cannabis for patients with the following conditions if they have failed to respond to standard treatments:
- Spasticity associated with multiple sclerosis
- Intractable nausea and vomiting associated with chemotherapy
- Severe, refractory (treatment-resistant) epilepsy
Commenting on the launch today, Mr Harris said: "It is important to state that there are no plans to legalise cannabis in this country.
"The purpose of this programme is to facilitate compassionate access to cannabis for medical reasons, where conventional treatment has failed.
"Ultimately it will be the decision of the medical consultant, in consultation with their patient, to prescribe a particular treatment, including a cannabis-based treatment, for a patient under their care."
Previously, there were no medical cannabis products available in Ireland and many sufferers were forced to spend thousands each year to access cannabis-based treatments in countries such as the Netherlands.
The new legislation means that commercial operators whose cannabis products meet the specified requirements will be able to supply products to the Irish market.
The Medical Cannabis Access Programme will operate on a pilot basis for five years before a review in 2024.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQB: KHRNF), commented on the EU-Mercosur Trade Agreement announced between the European Union and Mercosur, the Latin American trading block made up of Argentina, Brazil, Uruguay and Paraguay. Khiron is active among Mercosur jurisdictions with a recently completed acquisition of NettaGrowth International, a cannabis company based in Uruguay.
The trade deal between the European Union and Mercosur announced on June 28, 2019 at the G20 Summit in Japan, which is subject to ratification by member countries, establishes a trade framework for goods and services, including pharma and medical products, covering nearly 780 million consumers, making it the largest in the world in terms of population, and with an estimated trade in goods of 88 Billion Euros (Source: European Commission).
Alvaro Torres, Khiron CEO and Director, comments "As we build Khiron's dominant position in Latin America and Mercosur markets through our operations in Uruguay, we welcome this trade deal as it strengthens our ability to now directly supply the European medical cannabis market. This significant milestone is another step towards a globalized medical cannabis trade network where Latin America, with its strategic location, many natural advantages and regulatory leadership, will continue to play a significant part."
Khiron announced completion of the acquisition of NettaGrowth International on June 19, 2019. NettaGrowth, and its wholly-owned subsidiary Dormul S.A. is a Uruguayan company that has obtained one of the first licences to produce and export medical cannabis with THC for commercialization in Uruguay, and is positioned to serve Brazil and the growing Latin American market as part of the Mercosur trading block, adopting the Company's scalable model as markets develop.
MYM Nutraceuticals Inc. (CSE: MYM) (OTCBB: MYMMF) announced that its subsidiary in Colombia, Colombia Organica S.A.S, has signed agreements in principle to cultivate both THC and CBD-rich cannabis with independent farmers for an initial five acres.
Cannabis will be cultivated by farmers who will be licensees under the existing Colombia Organica cannabis cultivation licenses. The first crops cultivated on the initial five acres will function as test crops with the intention to add subsequent acreage. The climate in Colombia is ideal for cultivating cannabis, with the growing season being year-round it's possible to harvest three crops of THC or CBD-rich cannabis annually.
"Our team in Colombia has begun to execute on our plan to cultivate both THC and CBD-rich cannabis in South America," said Howard Steinberg, CEO of MYM. "The strategy of extending our licenses to neighbouring farmers to cultivate cannabis will serve to increase our biomass supply that we intend on processing and exporting to the global market."
Colombia Organica is committed to extending its licenses to the independent farmers for an initial period of five years. The farmers will be responsible for all costs associated with cultivation from seed to sale. Colombia Organica agrees to purchase the harvested biomass at a price to be determined at the time of delivery based on the average market price at that time.
MYM is currently finalizing the closing documents that will see its own 80% of Colombia Organica.
Organigram Holdings Inc. (NASDAQ: OGI) (TSXV: OGI), the parent company of Organigram Inc., a leading licensed producer of cannabis, announced today it will report its third quarter earnings results for its fiscal year ended August 31, 2019 on Monday, July 15, 2019 before market open.
The Company will host a conference call to discuss its third quarter 2019 earnings results at 8am EST.
A replay of the webcast will be available within 24 hours after the conclusion of the call at https://www.organigram.ca/investors and will be archived for a period of 90 days following the call.
FSD Pharma Inc. (CSE:HUGE) (OTCQB: FSDDF) and Prismic Pharmaceuticals Inc., a U.S.-based specialty R&D pharmaceutical company, have announced that, on June 28, 2019, they finalized the acquisition by FSD Pharma of all of the issued and outstanding securities of Prismic for an aggregate purchase price of approximately US$17.5 million, satisfied by the issuance of approximately 102.7 million Class B subordinate voting shares in the capital of FSD Pharma at a deemed price of CAD$0.2275 per FSD Share. In addition, FSD Pharma has agreed to assume approximately US$3.05 million of outstanding Prismic long- and short-term liabilities.
FSD Pharma will continue to be led by Raza Bokhari, MD, executive co-chairman and CEO. Zachary Dutton, co-founder of Prismic, will continue to serve as the CEO of Prismic, reporting to Edward Brennan, Jr. MD, FACS, president of the FSD Biosciences Division.
Peter Moriarty, co-founder and previous chairman of the board of Prismic, has been named chairman of the newly-formed FSD BioPharmaceutical Industry Advisory Board.
Bokhari stated, "On behalf of the FSD Pharma shareholders and Board of Directors, it is with immense pleasure that I welcome Prismic shareholders and stakeholders to the FSD Pharma family. Over the past several weeks, Dr. Brennan and our M&A team have worked very closely with the Prismic leadership to finalize this transaction under budget and ahead of schedule. I must commend Dr. Brennan on his laser sharp focus and attention to detail and I must also express my special gratitude to Zach Dutton and Peter Moriarty for their efforts in resolving some outstanding issues to close the transaction."
Bokhari continued, "The Prismic acquisition represents strategic depth in the vision and mission of FSD Pharma and signals a paradigm shift in the overall outlook of the company. We are relying heavily on the expertise of Dr. Brennan, who is a seasoned pharmaceutical industry veteran with substantial experience from working at Glaxo Smith Kline and Johnson & Johnson to navigate us through the various stages of the FDA approval process for drug development, with the goal of eventually making synthetic cannabinoid prescription medications available for commercial use to help alleviate the pain and suffering of patients. We are confident, Peter Moriarty, another well-known pharmaceutical industry veteran, who was also one of the founders of Shire Pharmaceuticals, will make a meaningful contribution to the FSD Pharma story as the chairman of the BioPharmaceutical industry advisory board."
InMed Pharmaceuticals Inc. (TSX:IN) (OTCQX:IMLFF), a biopharmaceutical company developing a proprietary biosynthesis technology for cannabinoid-based pharmaceuticals to treat severe diseases, today announced the appointment of Catherine Sazdanoff, JD, to its Board of Directors.
Ms. Sazdanoff joins InMed's Board with 35 years of experience in the healthcare industry. She held various global VP roles in business development and corporate development at Takeda Pharmaceuticals, which she joined in 2006. Prior to Takeda, Ms. Sazdanoff served in senior global legal and pharmaceutical business roles at Abbott Laboratories since 1984, including litigation, international commercial and transactional legal roles, marketing, and business development. At both companies, she completed numerous collaborations and transformational M&A transactions, including Abbott's acquisition of Knoll Laboratories (including the mega-blockbuster drug Humira®), and Takeda's acquisition of Millennium Pharmaceuticals and Nycomed S.A.
Ms. Sazdanoff is an independent director of the Board of Meridian Bioscience, Inc. (NASDAQ: VIVO). She is currently President and CEO of Sazdanoff Consulting LLC, where she acts as Business Advisor to Strata Oncology, Inc., a private precision oncology company, and works with other healthcare companies on strategy and corporate/business development. Ms. Sazdanoff has a BA in English from the University of Notre Dame, and a JD from Northwestern University School of Law.
"We are enthusiastic to welcome Catherine to our Board of Directors at an exciting time in the Company's evolution," commented Eric A. Adams, President and Chief Executive Officer. "Her diverse business development and legal experience, built from over 35 years in the pharmaceutical industry, will be important as we accelerate the development of our therapeutic pipeline and scale-up our innovative biosynthesis platform technology. Importantly, Catherine's rich experience in pharma deal making will be highly beneficial to InMed as our assets mature and we begin strategizing about potential transactions."
"InMed has unique opportunities to bring significant medical advances to important patient populations with its differentiated cannabinoid-based therapeutic pipeline and novel biosynthesis manufacturing technology," stated Ms. Sazdanoff. "I am delighted to join the team and look forward to working closely with the Company's management as InMed drives towards long-term value creation."
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