Investor Ideas Potcasts, Cannabis News and Stocks on the Move; (CSE: CHV) (CSE: HITI) (TSXV: PCLO) (CSE: XPHY) (CSE: MGRO)
Delta, Kelowna, BC - January 27, 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; (CSE: CHV) (CSE: HITI) (TSXV: PCLO) (CSE: XPHY) (CSE: MGRO)
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 of this week's announcements.
Canada House Wellness Group Inc. (CSE: CHV) announced that its wholly owned subsidiary, Abba Medix Corp., has now registered its 100th medical patient in less than three months. This news comes on the heels of Abba's January 22, 2020 announcement that it has added three additional strains to its product portfolio and now has a total of four strains available for sale to registered Abba patients. Abba anticipates its patient growth rates will rise sharply as awareness of Abba's excellent variety of dried flower spreads throughout the Canadian medical cannabis landscape, and more specifically to veteran medical patients.
"A key strategy of Canada House is to increase Abba's patient base by expanding relationships with users of medical cannabis and cannabis clinics across the country," says Canada House CEO Chris Churchill-Smith. "In addition, we have listened to our patients and have increased the selection of cannabis products to meet their needs. This important milestone drives Canada House and Abba revenues and demonstrates progress on Canada House's Path to Profitability."
"Registering Abba's 100th medical patient is an important milestone for our organization and is emblematic of our dedication to medical cannabis patients. We are committed to offering high quality strains that best serve those medical patients looking for solutions to a variety of health and wellness needs and as Abba's patient base continues to grow, we will strategically and selectively add complementary strains that our patients covet," said Michael Orrbrooke, Abba's President and the Chief Revenue Officer of Canada House. "In addition to offering a more comprehensive selection of strains, we intend to offer our products in new formats to provide our medical patients with many options while maintaining our industry leading customer service and online customer experience."
High Tide Inc. (CSE:HITI) (OTCQB:HITIF), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, has completed the acquisition of the Canna Cabana retail cannabis store in Hamilton, Ontario. The acquisition of the Hamilton Store, one of a limited number of premier cannabis retail stores operating in the province, marks the Company's first step towards acquiring its interest in all three current Canna Cabana locations across Ontario. The Hamilton Store has a strong operating history with unaudited gross sales exceeding $14 million for the nine months since opening on April 20, 2019, with gross margins of approximately 28%.
As consideration for the acquisition, High Tide paid to the vendor $2,097,816 in cash and issued to the Vendor 4,761,904 common shares in the capital of the Company. The Transaction, which was completed with the consent of the Alcohol and Gaming Commission of Ontario following the expiry of certain restrictions on change of control established under the rules applicable to the first cannabis retail lottery conducted by the AGCO on January 11, 2019. In connection with the Transaction, the Company acquired all of the issued and outstanding shares of a numbered company that was wholly-owned by the holder of a cannabis retail store authorization issued by the AGCO in the First Lottery.
"High Tide is excited to add the Hamilton store to its corporately-owned portfolio of stores, with its large and loyal customer base and top-tier financial performance," said Raj Grover, High Tide's President & Chief Executive Officer. "Over the coming year, we look forward to growing our presence in the Ontario market and reaching the maximum of 10 stores per operator as quickly as possible," Mr. Grover added. Through this Transaction, High Tide has made its first move towards significantly expanding its retail network in Canada's most populous province.
PharmaCielo Ltd. (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., announced that it has entered into a three-year agreement with XPhyto Therapeutics Corp. (CSE:XPHY), whereby PharmaCielo will supply medicinal-quality cannabis extract oils and isolates, including those containing THC, to XPhyto for analysis, further processing, product development and manufacturing at its European Union Good Manufacturing Practice-certified facility in Biberach in the state of Baden-Württemberg, and thereafter for sale into the German market.
"PharmaCielo has a significant opportunity to export an ever-expanding range of medicinal products into the German market, including those containing THC, and we are very excited to work with XPhyto to leverage this opportunity," said David Attard, CEO of PharmaCielo Ltd. "As the largest medicinal cannabis marketplace in Europe, Germany is also the most demanding in terms of product quality. Our ability to meet market requirements for verifiable quality parameters was essential to establishing the relationship. We expect to generate meaningful revenue through this agreement over the next three years and are focused on continuing the ramp-up of our sales efforts through 2020."
XPhyto is a Canadian headquartered company focused on cannabinoid-based formulations and clinical validations. The company owns two German subsidiaries, Bunker Pflanzenextrakte GmbH and Vektor Pharma TF GmbH, and is expanding its current licensed German cultivation, processing and product R&D to address near-term medicinal product opportunities in the German marketplace.
MustGrow Biologics Corp. (CSE: MGRO) (OTC: MGROF), an agricultural biotech company developing and commercializing a portfolio of natural, science-based biological crop protection products, announced the filing of patents related to method-of-use and composition-of-matter claims for a biological non-selective bio-herbicide, based on MustGrow's signature mustard-derived approach to controlling unwanted pests and diseases.
MustGrow has completed a series of application rate tests with Canada's National Research Council to determine the applicability of MustGrow's natural mustard-derived technology as a bio-pesticide. Using multiple application methods, herbicidal control was achieved after only 72 hours - controlling the trial plants from the root up. This strong data validates MustGrow's natural science-based approach, utilizing the mustard seed's natural defence mechanism, not only as a bio-pesticide, but also as a bio-herbicide.
MustGrow's intellectual property suite is a platform for several crop protection categories, aiming to disrupt global agriculture markets that have traditionally been dominated by chemistry-based products. This filing enhances MustGrow's current patent portfolio covering many crop protection categories. MustGrow's existing patent portfolio protects both method-of-use and composition-of-matter claims for MustGrow's signature mustard-derived approach to controlling unwanted pests, diseases, and now weeds.
"The efficacious properties of our active ingredient as a bio-pesticide, bio-nematicide and bio-herbicide represent a key milestone for MustGrow," remarked MustGrow COO Colin Bletsky. "MustGrow has plans to further expand our data set and focus testing on hard to kill and herbicide-resistant weeds as well as to expand applications of our remarkable natural mustard-based technology."
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