Investor Ideas Potcasts, Cannabis News and Stocks on the Move; (TSX: WEED) (NYSE: CGC) (TSX: RIV) (CSE: AGRA) (TSXV: ENW)
Delta, Kelowna, BC - February 14, 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.
Listen to the podcast:
Investor Ideas Potcasts, #Cannabis News and #Stocks on the Move; (TSX: WEED) (NYSE: CGC) (TSX: RIV) (CSE: AGRA) (TSXV: ENW)
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.
But first, an upcoming event in Toronto, "Dope Cocktails" is Toronto's first public event of its kind and will be held at The Jam Factory on Thursday, February the 20th from 5pm to 10pm.
This groundbreaking event gives guests the opportunity to sip and sample non-alcoholic THC and CBD cannabis-infused cocktails. Dope Cocktails is an upscale-adult evening for people who want to relax and enjoy delicious handcrafted non-alcoholic, cannabis-infused cocktails.
THC cocktails: Diesel Sour, Cookies and Cream, Pineapple Express,
Canna-colada, Pink Panther Margarita, Couch Lock Collins
CBD cocktails: 416er Elixir, The Calm after the Storm, CBD Mojito
For the THC "canna-seurs" at the event, additional mgs/THC drops will be available, however, for the moderate and less experienced members of the cannabis community, we recommend that they enjoy our cocktails as they were professionally created for this event.
$135 plus taxes and fees
The event's one price, all-inclusive ticket includes admission to the event, DJ, art installations and 2 food items. Nine handcrafted dope cocktails will be gifted to each guest.
As well, the Cannabis Drinks Expo is slated for multiple locations this year with the Beverage Trade Network bringing the expo to San Francisco on July 30th and Chicago on August 3rd.
Historically drawing hundreds of cannabis industry leaders, the event's stated theme, "Growing Your Cannabis Drinks Business," is geared to prime attendees with critical information on a variety of important topics. Conference-goers will enjoy opportunities to interact with experts from all levels of the cannabis beverage ecosystem, including distributors and retailers, political and legal analysts, medical researchers, and marketing and branding experts.
The Bay City location is symbolic of the industry's charted direction. Longtime host city of events for the global wine and spirits industry, beverage industry enthusiasts have met to discuss its growth for many years; now, that growth path includes cannabis beverages.
"Choosing San Francisco as the host city for our first event this year made a lot of sense," noted Beverage Trade Network CEO and founder Sid Patel. "California has now emerged as an influential voice determining the future growth of the cannabis drinks industry."
The one-day B2B expo and conference will partially focus on the emerging relationship between California's wine industry and its freshly legalized recreational cannabis industry. Wine and cannabis industry experts will lead discussions on a myriad of topics, including the current regulatory and policy landscape for cannabis drinks, licensing requirements, and marketing opportunities within the hospitality and tourism sectors. Once viewed as a competitive threat, the cannabis beverage industry is recently being embraced by winemakers and grape growers to foster mutually beneficial collaboration, and the 2020 Cannabis Drinks Expo celebrates that evolving relationship.
For industry enthusiasts located closer to the Midwest, the summer's second Cannabis Drinks Expo will be held at the Midwest Conference Centre in Northlake, Illinois-approximately 30 minutes from Chicago. The event will consist of both a business conference and a trade show floor for exhibitors and presents attendees with an opportunity to meet new partners with expertise in growing, manufacturing, distribution, packaging and branding. The expo's tradeshow floor format allows for maximum interaction between participants and trade partners.
With potential exhibitors in a variety of verticals, such as medical marijuana production, cannabis production, wineries, breweries, distilleries, pharma companies, marijuana-infused products, edibles providers and more, the exhibition is set to provide a well-rounded view of the cannabis beverage industry's future alongside other established sectors.
Experts will offer sessions on a variety of industry-specific topics, including the following:
- Up-and-coming innovations
- Insights and innovations regarding the current legal and regulatory environment
- Emerging business models
- New routes to market and distribution channels
Some of the Third Quarter Fiscal 2020 Corporate Financial Highlights included:
- Revenues: Reported Net Revenues increased 62% over Q2 2020, or 13% excluding the impact of portfolio restructuring charges. Gross Recreational B2B revenue increased 8% over prior quarter due, in part, to over 140 stores becoming active in the quarter and higher sales of premium dried flower and pre-roll joints. Our acquired businesses including Storz & Bickel and This Works also performed well, contributing to organic growth this quarter.
- Gross margin: Gross margin before fair value impacts was 34%. Gross margin performance in quarter benefited from lower period costs due to higher facility utilization
- Operating expenses: Total operating expenses decreased 14% versus Q2 2020 primarily due to a $20 million reduction in G&A expenses and over $31 million lower stock-based compensation versus the prior quarter
- Adjusted EBITDA: Adjusted EBITDA loss of $92 million, a $64 million narrower loss versus Q2 2020 driven by higher sales, improved gross margins and lower operating expenses
- Cash Position: Gross cash balance was $2.3 billion, down from $2.7 billion in Q2 2020, reflecting the EBITDA loss, capital investments and M&A
"In Q3 we executed across Canada, in our international markets and in our strategic acquisitions to drive revenue growth," said David Klein, CEO. "We have a lot of work to do. We are eager to capitalize on the opportunity to create an unassailable position through a tight focus on the consumer and on critical markets."
"We delivered significant gross improvement in the third quarter driven by stronger revenues and higher capacity utilization. Actions taken earlier this year are expected to meaningfully reduce stock-based compensation in FY21, and we have started to implement tighter cost controls across the organization," said Mike Lee, EVP & CFO. "We plan to take further steps to reduce our costs and right-size our business to ensure that we can generate a healthy margin profile and cash generation in the coming years."
Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today released its financial results for the three and nine months ended December 31, 2019. The Company's unaudited condensed interim consolidated financial statements for Q3 2020, and its management's discussion and analysis for Q3 2020, are available under the Company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and on the Company's website at www.canopyrivers.com/investors/financials-and-public-filings.
All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.
"In the third quarter, we continued pursuing our goal to become the leading venture capital firm building the cannabis industry of tomorrow," said Narbé Alexandrian, President & CEO, Canopy Rivers. "We focused primarily on follow-on investments in our existing portfolio of innovative companies, further developing the Canopy Rivers ecosystem through collaborative partnerships, and evaluating where we think the next wave of disruption will come from as the global cannabis market continues to evolve and mature. Our aim is to build on this momentum as we look to have a successful 2020."
"It was a challenging end to 2019 for the valuations of publicly-traded cannabis companies, which naturally impacted our results for the quarter," said Eddie Lucarelli, CFO, Canopy Rivers. "However, we continue to believe that these headwinds for the cannabis sector are temporary, and that the strength of our balance sheet positions us well to weather the storm. A strong pipeline of global investment opportunities, positive trends in supply chain and retail developments in Canada, and impending milestones at our portfolio companies truly excite us for what's to come in 2020."
AgraFlora Organics International Inc. (CSE: AGRA) (OTC: AGFAF), a growth oriented and diversified international cannabis company, announced that the Company has taken steps to accelerate the market growth of Whole Hemp Health, a proprietary line of hemp-derived cosmetic products developed/owned/manufactured by Canutra Naturals Ltd., a wholly owned subsidiary of AgraFlora. The Company, via Canutra, has engaged Gatekeeper Growth Partners, an elite performance-marketing firm, to assist Canutra in driving the growth of its Whole Hemp Health products on online marketplaces such as Amazon.
Pursuant to a definitive agreement entered into between Canutra and Gatekeeper, Gatekeeper will deploy a proven arsenal of digital marketing tools to acquire new customers for Whole Hemp Health with the primary goal of accelerating growth through online and direct-to-consumer channels. This includes supporting the current Whole Hemp Health sales force with a proprietary suite of marketing technologies, including data-driven advertising campaigns that have a proven track record of driving conversions and sales for wellness products. In particular, the Company will leverage Gatekeeper's strong knowledge of and history of success on the Amazon platform, as well as other ecommerce marketplaces.
"We are pleased that we conform with Gatekeeper's strict product criteria and to be selected as a partner to their proven sales model, which de-risks our online advertising strategy," stated Canutra CEO Tony Harris. "Gatekeeper only selects a few clients per year to partner with, and it is a testament to the quality and market potential of our products that they have chosen to work with Whole Hemp Health."
EnWave Corporation (TSX-V:ENW) (OTC: NWVCF) announced today that it has agreed to modify its Equipment Purchase Agreement with Medican Organic Inc., a subsidiary of The Green Organic Dutchman Holdings Ltd. (TSX:TGOD)(OTC:TGODF), that was previously announced on March 26, 2019. Under the terms of the original Purchase Agreement, TGOD purchased three 120kW Radiant Energy Vacuum ("REV™" ) machines equipped with Optional Support Equipment and Robotic Arms for installation at its Valleyfield, Quebec facility.
At the request of TGOD, due to its revised processing requirements and a phasing of the Valleyfield facility buildout, the capacity of REV™ machinery to be delivered to TGOD has been reduced to a single 120kW REV™ machine with an Optional Support Equipment and Robotic Arm system. TGOD has already taken possession of a 60kW REV™ machine for processing at its Ancaster, Ontario facility, which is slated for commissioning in the coming months.
TGOD has fully paid EnWave for the first 120kW REV™ machine and partially paid for the two REV™ systems that will no longer be delivered following the modification to the Purchase Agreement. The cash collected by EnWave related to the two REV™ systems that will not be taken by TGOD fully covers all the costs incurred by the Company related to fabrication, including an acceptable margin. The Company did not incur any losses as a result of the Purchase Agreement modification.
Pursuant to the Purchase Agreement modification, EnWave now owns the two partially fabricated 120kW REV™ systems and will seek to redeploy the systems in alternative projects within cannabis or food verticals.
The royalty-bearing commercial license agreement between EnWave and TGOD remains in good standing, and TGOD plans to leverage the operational benefits made possible through REV™ for the high-precision, controlled, rapid dehydration of cannabis. The Company anticipates receiving the first royalties from TGOD in fiscal year 2020.
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