Investor Ideas Potcasts, Cannabis News and Stocks on the Move: (TSXV: META), (NYSE: APHA), (CSE: COOL), (TSXV: WL), (OTC: EDXC), (CSE: VIDA)
Delta, Kelowna, BC - November 4, 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: (TSXV: META), (NYSE: APHA), (CSE: COOL), (TSXV: WL), (OTC: EDXC), (CSE: VIDA)
In today's podcast we look at a few of today's early announcements.
National Access Cannabis Corp. (TSXV: META), Canada's largest publicly traded recreational cannabis retailer by revenue, announced that it has registered "Meta Growth" as a business name and will begin to conduct business under the Meta Growth name effective immediately, with the formal name change to Meta Growth Corp. subject to shareholder approval. The Company also announced that it has entered into a definitive agreement (the "Agreement") to sell the Company's portfolio of medical cannabis clinics from National Access Canada Corporation to Evergreen Pacific Insurance Corporation for $4 million in cash, anticipated to close on November 30, 2019.
The Meta Growth corporate identity embodies the Company's strategy to be the preeminent cannabis retailer in Canada. The new corporate logo visually represents META's multidimensional commitment to cannabis culture, strength, passion and unique presence in the industry as pure play retail. All new recreational cannabis retail stores will be constructed under the new, cool and comfortable META banner. The Company has unveiled an updated investor presentation as part of this new identity, which is available on its new website, metagrowth.com.
"Aligning our corporate brand, with our retail brand and our stock ticker demonstrates our commitment to the Canadian retail market and creating value for our shareholders", said Mark Goliger, CEO of Meta Growth. "As the cannabis industry has evolved, our focus has shifted from medicinal to recreational cannabis, and today, retail is our portfolio and our future. Brand recognition and consistency are key to our success and META is ready to continue to maintain our leadership position in the Canadian retail market."
Meta Growth and Evergreen Pacific announced that a definitive agreement to sell the Company's non-core medical cannabis clinics has been executed. Meta Growth intends to use the net proceeds of the sale to fund the buildout of recreational cannabis retail stores, and for general working capital purposes. The transaction is subject to customary closing conditions and is expected to close on or about November 30, 2019.
"As Canada's largest recreational cannabis retailer, with a well-defined growth path ahead of us, this Agreement represents META's focus to maintaining its leadership position in the Canadian retail market, which we view as the most strategic and valuable portion of the recreational cannabis value chain," said Mark Goliger. "We are proud of META's medical cannabis roots and I would like to thank all of the employees who have had a role in growing this division over the past 3 years. This transaction allows us to monetize a non-core asset and redeploy the proceeds into our primary business unit, with a view to optimizing long-term returns on capital and generating shareholder value."
Aphria Inc. (TSX: APHA) (NYSE: APHA) announced that it has received a cultivation licence from Health Canada for Aphria Diamond, the Company's second Leamington, Ontario cannabis greenhouse facility, bringing an additional 1,300,000 square feet of production space with an annual growing capacity of 140,000kg. Combined with the Company's Aphria One facility and its subsidiary Broken Coast Cannabis, the Company now has more than 2,400,000 square feet of cultivation space capable of reaching a total annualized production capacity of 255,000kg.
"We are extremely pleased to receive the licence for our long-awaited Aphria Diamond facility, which more than doubles our Canadian production capacity," said Irwin D. Simon. "Reaching industry-leading production levels coinciding with the expansion into new categories and new opportunities for cannabis in Canada and around the world is a transformative moment for Aphria Inc."
Aphria Diamond is a 51%-owned subsidiary of Aphria Inc., through which the Company has partnered with Double Diamond, a company with multi-generational expertise in the commercial greenhouse industry. Aphria Diamond is situated on a 100-acre campus with a brand-new greenhouse facility covering 1,300,000 square feet that has been retrofit for the cultivation of cannabis.
Aphria Diamond features the industrial-scale automation technology that is the hallmark of Aphria One's Part IV and V expansions. The in-house designed automation will handle cultivation functions including transplanting cuttings, transporting plants through harvesting, de-budding and trimming, drying and curing, and waste disposal.
"We believe the introduction of our proprietary automation technology at Aphria Diamond will provide us with the ability to cultivate high-quality cannabis with great efficiency and at an unprecedented scale," continued Simon. "As we remain focused on sales growth and profitability, this unique advantage is expected to enable Aphria to continue to create long-term value and drive the evolution of the industry through innovation and the development of leading brands."
Core One Labs Inc. (CSE: COOL) (OTCQX: CLABF) announced that it has signed a Definitive Agreement to acquire Rainy Daze Cannabis Corp., a British Columbia corporation. The corporation's assets include a long term lease for a facility currently under construction and scheduled to be completed in the 2nd Qtr of 2020. The facility comprises 2,210 square feet of canopy space and 3,500 square feet of operational purpose built building. Also included are 15 top proprietary genetics with the necessary farming protocols and SOPs to ensure both maximum yield and compliance.
The corporation being acquired was organized by Chadwick Clelland, currently CEO of a fully licensed Canadian LP with Cultivation and Medical Sales licenses. The facility under construction has a license application in process.
The facility will be operated by experienced staff with LP credentials. Seed to sale software and distribution agreement will guarantee shelf space with a group of over 12 licensed locations in western Canada. This is an opportunity to independently brand all of Core One Labs' products in the Canadian market. Extraction capabilities on site will permit this corporation to enter the edibles and extracts markets.
With this acquisition, Core One Labs will be positioned to build a foundation in Canada for national distribution and international export of all COOL products, including CannaStripsTM.
The CEO of Core One Labs Inc., Brad Eckenweiler, commented, "The estimated revenue numbers for this facility, when completed, suggest an ROI of over fifty percent annually. The guaranteed flower purchase with a growing number of licensed dispensaries is very attractive to the COOL business model for Canada. The location of the facility in British Columbia where COOL currently has offices is an additional benefit." The Company will continue to update the market on the progress of this project as we proceed to its completion.
Westleaf Inc. (TSX-V:WL) (OTCQB:WSLFF) announced that the conditions precedent to the white-label cannabis derivative product sale agreement between the Company's wholly owned subsidiary Westleaf Labs LP and Delta 9 Cannabis Inc. (TSX: DN) (OTCQX: VRNDF) have been completed, and Westleaf Labs has received the first order from Delta 9 for an initial three-month supply of vape pens and cartridges. This first order represents anticipated revenue of ~$740,000 starting as early as January 2020.
"This is another important milestone in the development of Westleaf, as we add the critical processing and manufacturing component to our vertically integrated strategy," said Scott Hurd, President and CEO of Westleaf. "This operationalizes a key component in the cannabis supply chain and one that we expect will see increase in demand as we enter Cannabis 2.0, and the legalization of a myriad of new products."
The White-Label Agreement provides for Westleaf Labs to produce a minimum of ~$4 million of white labelled cannabis derivative products, with the option to increase to $16 million per annum. The one-year agreement was announced on July 24th and Westleaf Labs received its Health Canada Standard Processing Licence on October 11th and is set to begin processing.
The White-Label Agreement is expected to create value added products to be sold through both Delta 9's retail stores in Manitoba, through Westleaf's wholly-owned Prairie Records stores in Saskatchewan as well as through provincial wholesalers.
With the onset of Cannabis 2.0 and the legalization of a wide variety of new derivative cannabis products, Westleaf is expecting strong industry wide demand for efficient and high-quality extraction, processing and product manufacturing to meet the needs of the new product manufacturers.
The company announced that Delta 9 has filed a Notice of New Cannabis Product Application with Health Canada and will be proceeding to produce commercial batches of an ingestible cannabis oil using Nanosphere patented technology. Once produced, the initial commercial batches will require final review and approval by Delta 9 and Health Canada prior to being sold under the Delta 9 - Evolve brand in the Canadian Market.
Per NanoSphere Health Sciences CEO, Dr. Mark Percival: "This marks an important phase in our company's development and our entry into the Canadian Market. It also marks the beginning for Canadian consumers who are looking to expand on the benefits they have experienced using cannabis products. The new products being launched by Delta 9 are the first in Canada to utilize aspects of our patented NanoSphere Delivery System. Medical cannabis patients and seasoned recreational users alike will appreciate the difference more effective delivery makes to their experiences".
CBD Unlimited, Inc. (OTC: EDXC) formerly known as Endexx Corporation, a provider of innovative phytonutrient-based food and nutritional products, announced a momentous advancement of the company's new partnership with First Foods Group, Inc. (OTCQB: FIFG), a leading chocolate manufacturer, to launch hemp-based premium chocolate product line under the brand name, "Southeast Edibles."
Backed by a proven track-record, First Foods Group will assist in furthering CBD Unlimited's goals of continuously expanding and innovating its product suite. First Foods Group has launched its first hemp-based chocolate product line under the name Southeast Edibles. CBD Unlimited will play a significant role in regulating the distribution, as well as assisting with the development of high-quality CBD-infused chocolates. Critical applications provided under the agreement include identifying unique food concepts, funding options, and manufacturing services.
Through this collaboration, First Foods Group and CBD Unlimited expect this initial launch to promote the continued development of distinctive ingestible CBD products. Southeast Edibles will offer a variety of premium chocolate flavors with different concentrations of CBD Unlimited's top-rated CBD.
"First Foods Group will be a significant contributor to CBD Unlimited's growth strategy as we advance into the food category. According to Arcview Market Research, U.S. CBD sales are expected to hit $20 billion by 2024. As this forecast includes the increase in CBD-infused food products, we are excited to accelerate into this market," commented Todd Davis, CEO & Chairman of CBD Unlimited. "We look forward to working closely with First Foods Group and leveraging their knowledge and expertise in CBD-infused food innovation."
"We are excited to work with CBD Unlimited to bring our newly launched Southeast Edibles product line to market. Our thorough, thoughtful approach to developing only the highest quality CBD chocolate edibles is an ideal match with CBD Unlimited's scientific approach to perfecting the accuracy of CBD dosage in all-natural food products. CBD Unlimited's loyal customer base and expanding market access gives us confidence that they are an ideal partner to help bring our products to discerning customers who demand quality chocolate edibles that have an exceptional taste and deliver a consistent and reliable dose of hemp-based ingredients," according to Harold Kestenbaum, CEO and Chairman of FIFG.
Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) announced the closed beta launch of its e-commerce site, Wikala.com, an online CBD marketplace for US vendors. Phivida previously launched the private beta for its accessories site in May, 2019, following its acquisition of Wikala.com Inc., which was subsequently rebranded as Bloomgroove.com and released live in September 2019.
Wikala is now live in closed beta and, while it is not yet available for general access, it is presently populated with Phivida's current roster of products. In addition, the site is also in closed beta for independent businesses that can register through the sellers' portal. Once the sign-up process is complete, and Wikala has fully launched, approved vendors will be able to create digital storefronts to list and sell CBD products across the United States. Wikala is expected to be fully live for online shopping on December 1, 2019.
Wikala will provide leading CBD product companies in the industry with a new and robust sales channel that can expand their consumer reach. Through Wikala, Phivida is building a standalone CBD marketplace in the United States. Wikala is aimed at providing an online shopping option that will connect customers directly to third party sellers and manufacturers.
David Moon, President of Wikala.com Inc., commented: "We're excited to see this vision finally coming together. We've gotten some great feedback that has allowed us to refine the integration between customer and vendor. We're continuing to make the necessary tweaks, and we will be using this final open beta stage to ensure we get the process right."
Jim Bailey, Chief Executive Officer of Phivida, added: "Wikala will provide us with direct access to both the vendor and customer, allowing us to focus on providing the best possible shopping experience. By connecting customers with high-quality CBD vendors, we expect this aspect of our business to be less exposed to the stringent regulatory requirements that are required in the traditional bricks and mortar retail channel."
What sets Wikala apart from other eCommerce sites is its proprietary technology. Wikala is a highly customizable online platform that offers merchants powerful features that, to Phivida's knowledge, no other CBD online stores currently offer. Platform features now include a streamlined seller dashboard, advanced smart search, and product comparison tools, among others.
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