Investor Ideas Potcasts, Cannabis News and Stocks on the Move; (TSX: RIV) (OTC: CNPOF) (TSXV: JWCA) (CSE: CL) (OTCQB: HLIX) (CSE: BEV)
Delta, Kelowna, BC - January 8, 2020 (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 podcast edition of 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; (TSX: RIV) (OTC: CNPOF) (TSXV: JWCA) (CSE: CL) (OTCQB: HLIX) (CSE: BEV)
Today's podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today's podcast we look at a few early announcements.
Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) portfolio company BioLumic Ltd. has received approval from the New Zealand Ministry of Health to apply its proprietary ultraviolet light technology to medical cannabis. While BioLumic's approach has been successful in increasing yields in certain crops, such as strawberries, by up to 60%, this approval marks the first time the company's UV light technology will be used on cannabis. BioLumic hopes that its research will show increased yields in the cannabis plant and help producers meet the rising demand for medical cannabis and cannabis-derived products.
To bring its cannabis research program to life, BioLumic is partnering with two established cannabis companies. The company will work with Canada-based cannabis cultivator and Canopy Rivers portfolio company James E. Wagner Cultivation Corporation (TSXV: JWCA) (OTCQX: JWCAF), as well as Auckland-based medical cannabis company Helius Therapeutics. With the support of these partnerships, BioLumic plans to begin conducting medical cannabis commercial trials in New Zealand and Canada by June 2020.
"The partnership between BioLumic and JWC is another sign of strong collaboration in the Canopy Rivers ecosystem," said Narbé Alexandrian, President & CEO, Canopy Rivers. "We expect that BioLumic's expertise in non-cannabis agriculture technology will help cannabis cultivators like JWC produce high-yield, sustainable strains that meet consumer demands and patient needs."
BioLumic's UV light technology treats plants to increase yields and enable plants to more effectively defend themselves against disease or pest attacks. By exposing seeds and seedlings to short duration UV treatments, BioLumic aims to increase yields and improve tolerance to drought, diseases, and pests.
"Working with Canopy Rivers has opened the door for us to expand into cannabis, and that starts with the application of our technology to the cannabis plant," said Jason Wargent, Chief Science Officer, BioLumic. "From accessing capital to bring on new staff in science and AI, to introductions to companies such as JWC, we believe our ongoing relationship with Canopy Rivers is a catalyst for building the industry's understanding of how to improve the way cannabis is grown."
"The BioLumic research program is an exciting opportunity to push the boundaries of our knowledge of cannabis cultivation," said Nathan Woodworth, President & CEO, JWC. "JWC is committed to expanding our understanding of advanced cultivation techniques as they apply to cannabis, and our partnership with BioLumic is just one of the ways we are meeting this commitment."
For its cannabis research program, BioLumic will combine photogenics - the control of plant signalling responses to UV light - and artificial intelligence ("AI") to focus on improving the yield of the fast-growing cannabis crop, with a focus on cannabinoids such as cannabidiol. BioLumic has hired additional science and AI-focused staff at its Palmerston North, New Zealand facility to accelerate its cannabis research program.
Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it has closed the previously announced acquisition of CannaRoyalty Corp. d/b/a Origin House by way of a plan of arrangement. With the closing of the Arrangement, Cresco has significantly increased its footprint and accelerated its entry into the California market.
"This is a transformational deal for Cresco and represents the culmination of the better part of a year's work for both the Cresco and Origin House teams," said Charlie Bachtell, Cresco's CEO and Co-founder. "With the closing of this transaction, Cresco is in a position to accelerate its entry into one of the largest legal cannabis markets in the world, while adding valuable expertise in wholesale distribution and brand development, which we expect will drive significant value for all of our shareholders as we scale across the country in the coming years. We also see meaningful synergies across our national footprint through the addition of Origin House's ultra-premium indoor cultivation team, which we expect will assist us in our goal to consistently outperform the market on yield and quality metrics."
Mr. Bachtell continued, "In an industry that is in flux, Cresco is one of the most fundamentally sound and best-positioned multi-state cannabis operators in the U.S. The Company has built an engine that is designed to execute operationally, develop leading brands and get them into the hands of consumers to drive growth and value across all three horizons - short, medium and long term."
Marc Lustig, Chairman and CEO of Origin House commented, "Cresco's focus on the middle two verticals of the value chain - brands and wholesale distribution - as the key to creating long-term shareholder value, is aligned with the philosophy we had at Origin House. Speaking as one of the largest former shareholders of Origin House and now an enthusiastic and significant Cresco shareholder, I am looking forward to the opportunity for this combined team to create value for all of our shareholders."
Pursuant to the Arrangement, Cresco will appoint Marc Lustig, Chairman and CEO of Origin House, to the Cresco board of directors, following receipt of certain U.S. regulatory approvals.
The acquisition of Origin House makes Cresco a leading wholesale distributor in California, selling into over 575 dispensaries, representing approximately 65% of California's storefront dispensaries. Origin House's Continuum distribution platform distributes 13 third party brands, including Kings Garden.
Helix Technologies, Inc. (OTCQB: HLIX), the leading provider of critical infrastructure services to the legal cannabis industry, successfully completed the launch of the state tracking system for adult use marijuana sales in Illinois. The successful transition of the tracking system from medical to adult use allowed businesses to sell over $3.2 million of cannabis products on the first day of sales.
The historic rollout marked the first state to legalize cannabis through legislation instead of a ballot initiative and is also the second, and most populous state in the Midwest to allow adult use marijuana, signaling a growing acceptance of the plant in the traditionally conservative region. Illinois represents the largest market in the Midwest, with first day sales topping nearby Michigan by over 10 times.
On its first day, the Biotrack system successfully processed over $3.2 million in transactions representing over 70,000 item sales. The strong first-day sales showed little sign of slowing with the first week seeing more than a quarter million transactions totaling over $11 million. These numbers are expected to grow as more licenses are issued in the State.
"Our biggest challenge upon launch was ensuring that all users had the requisite knowledge prior to going live," said Dr. Moe Afaneh, COO of BioTrack. "Our support and training personnel have been putting in long hours, especially over the holidays, to make sure everything went smoothly and that focus hasn't ceased in the last week. The success of this launch is a testament to their hard work and customer service focus."
"Biotrack was nothing short of excellent concerning its collaboration of this massive Illinois launch at our Sunnyside Dispensaries. The Biotrack team was extremely informative, professional and executed real time adjustments to fix any issues we ran into daily/nightly. They were truly a wonderful partner in this process, proactively reaching out to us and checking in to see that the system was operating smoothly," said Jourdan Kurtz, EVP of Retail Operations at Cresco Labs.
"This was the largest single deployment in industry history, and I am honored that the State of Illinois selected BioTrack as its partner. Our team demonstrated a real passion and drive to complete this effort flawlessly," said Helix Technologies CEO and Executive Chairman Zachary L. Venegas. "I also want to thank our many commercial clients who continue to trust our services and integrate us into their business."
BevCanna Enterprises Inc. (CSE:BEV) (OTCQB:BVNNF) announced that Chief Commercialization Officer Emma Andrews, RHN, NPDP, will be featured at this week's Lift & Co Expo, sharing insights into the infused cannabis beverage category and consumer. The conference is being held on January 9-11, 2020 at the Vancouver Convention Center.
The Lift & Co. Cannabis Business Conference will bring together leading experts from across the industry to tackle subject matter from a uniquely Canadian perspective. The conference ignites discussion around both the medical and recreational-use cannabis markets, as well as Canada's position of leadership on the world business stage.
Ms. Andrews will bring her experience in developing and marketing cannabis-infused beverages to the Lift & Co. main stage session The Future of Social Consumption. Industry leaders Andrew Freedman, Co-Founder, Freedman & Koski, Inc. and Abi Roach, Founder of HotBox Holdings, will join Ms. Andrews, discussing consumption lounges and infused beverages, how close these may be to becoming a reality, how they will comply with regulations, and how they may change the social fabric.
"Now that infused products are regulated, and beginning to roll out in Canada, consumers are exploring new ways to participate and explore cannabis culture" said Ms. Andrews. "BevCanna has conducted significant research into the way Canadians want to enjoy their cannabis, and consuming infused beverages in social settings, to relax and unwind, and even address health concerns are at the top of the list".
BevCanna will also participate in the Lift & Co Expo portion of the conference, acting as Hydration Partner for the Expo and offering samples of two of BevCanna's original cannabis-infused beverage brands, Anarchist Mountain™; and Grüv™, at Exhibit Booth 641.
The Anarchist Mountain™ brand is inspired by natural botanicals found throughout the Pacific Northwest and is based on lightly sparkling spring water. The Anarchist Mountain™ is THC-dominant, and designed for social occasions. The Grüv™ brand represents an easy-drinking range of classic iced tea profiles. Grüv™ is composed of an equal balance of THC and CBD, making it an approachable choice for current and newer cannabis consumers alike.
As Hydration Partner, BevCanna is sponsoring a steady supply of fresh water for all Lift Expo attendees. Visit one of the two Hydration Stations located on the Expo floor. The first 2,000 people to stop by the Hydration Stations will receive a complimentary reusable BevCanna water bottle.
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