Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 384 - Cannabis Coronavirus Closures (TSX: WEED) (NYSE: CGC) (TSXV: LIFT) (OTCQB: LFCOF)
Delta, Kelowna, BC - March 17, 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; Episode 384 - Cannabis Coronavirus Closures (TSX: WEED) (NYSE: CGC) (TSXV: LIFT) (OTCQB: LFCOF)
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 company announcements.
Canopy Growth Corporation (TSX: WEED)(NYSE: CGC) has been monitoring the COVID-19 outbreak and paying close attention to the guidance given by public health bodies around the globe. Canopy Growth's leadership team has made the decision to temporarily close all corporate-owned Tokyo Smoke and Tweed retail locations across Canada, effective at 5:00 p.m. local time today, March 17.
"We have a responsibility to our employees, their families, and our communities to do our part to "flatten the curve" by limiting social interactions. For us, that means shifting our focus from retail to e-commerce," said David Klein, CEO, Canopy Growth. "This is a big decision but it was also an easy one to make - our retail teams are public-facing and have been serving an above-average volume of transactions in recent days. Given the current situation, it is in the best interest of our teams and our communities to close these busy hubs until we are confident we can operate our stores in the best interest of public health."
Canopy Growth also has a responsibility to its customers and medical patients to continue providing access to their desired cannabis products and prescribed medication. The Company has established, fully supported e-commerce platforms available to our recreational and medical customers across the country to provide business continuity for people seeking our products.
The decision affects the 23 corporately-owned stores in Newfoundland, Saskatchewan, and Manitoba as well as the Tweed Visitor Centre in Smiths Falls, ON.
Patients will be able to continue purchasing medical cannabis through Spectrum Therapeutics. Adult consumers within Manitoba and Saskatchewan are able to purchase Canopy Growth products through Tweed and Tokyo Smoke e-commerce platforms, all other provinces and territories will be supported through government-run online retail.
In other COVID related news, Lift & Co. Corp. (TSXV: LIFT) (OTCQB: LFCOF), announced today that it has temporarily laid off members of its workforce and paused operations of non-profitable business segments due to extenuating circumstances outside of the Company's control.
Specifically, due to the COVID-19 pandemic and the effects the pandemic is having on event businesses around the world, the Company has made difficult and strategic decisions intended to preserve cash and long-term shareholder value. The Company remains committed to continuing its profitable Lift & Co. Expo and CannSell lines of business which will be operationally unaffected by these changes.
"We are incredibly saddened by these necessary and difficult actions. Our team members have been tirelessly dedicated to driving shareholder value and building Cohesion and this pandemic and its impact on our operations is a shock to us all," said Matei Olaru, CEO of Lift & Co. "We are doing everything possible to preserve jobs long term at Lift & Co as we commit to preserving shareholder value and profitably servicing our valued clients during these uncertain times."
As the COVID-19 pandemic continues to grow and impact commerce globally, Lift & Co. is focusing on ensuring the safety and well-being of its employees and viability of the Company. The Company intends to rehire those affected by the temporary layoffs if and when the COVID-19 pandemic is resolved.
Following up from yesterday's announcement regarding Cova POS, now Greenline POS has announced partnering with Dutchie.
"Cannabis retailers now, more than ever, need online solutions to increase their inventory visibility and add convenience to customers' ordering experiences," said Albert Kim, CEO of Greenline POS. "We're proud to be working with Dutchie to bring click and collect to Canada."
Online menus are critical for cannabis retailers in a competitive landscape where customers research online first before visiting stores. Understanding the availability of a strain can make or break a decision to visit a store.
Click-and-collect is an increasingly in-demand feature for stores that are competing on convenience. It allows customers to reserve their orders online, and pick up in store for a seamless purchasing experience.
"With the emergence of click and collect in Canada, we are excited to integrate with an innovative retail solution like Greenline," said Ross Lipson, CEO of Dutchie. "With real-time menus and streamlined order fulfilment, the Dutchie and Greenline integration offers a premium experience for both consumers and retailers."
SparqOne, the fastest-growing distribution company in California, announced today it has entered into distribution agreements with best-in-breed cannabis brands Kushy Punch, Church, Mindset Organics, Branded and Smoakland to reach over 400 dispensaries statewide. SparqOne has rights to distribute these throughout the state of California.
"We are so pleased to welcome these exceptional companies and brands to our growing portfolio, and now have a full vertical product line-up to meet every category and pricing tier our dispensary partners offer," said SparqOne General Manager Andrew Dorsett. "We have built our company on three core tenets - superior customer service, next day delivery, and real time sales and inventory management."
SparqOne has distribution hubs in Los Angeles, Oakland, Orange County and Sacramento, which provide the platform for its next-day delivery service to dispensaries statewide. Every crew member goes through an extensive two-week training for compliance, product knowledge and customer relations. In addition to Dorsett, a highly decorated Marine Corps veteran, the team is comprised of a diverse group of experts from the logistics, cannabis and biotech sectors including Marine and Navy veterans, budtenders and cultivators.
Dorsett added, "From Eureka to El Centro, Santa Barbara to Needles, we have strong relationships with nearly every shop in the state. We work tirelessly with each to improve their sales and profits through smart in-store education and product positioning, frequent patient appreciation days, and bringing fresh, innovative brands and products to their customers.
"You will see our crew members sporting our distinctive S1 racing colors and apparel with every delivery to reflect our 'cannabis on demand' service to shops and customers throughout the state."
To place your order for any of the products SparqOne carries, contact email@example.com.
CURE Pharmaceutical (OTC:CURR), an innovative drug delivery and development company, today announced the allowance of Chinese Patent No. ZL201480039313.6. The new patent covers the loading of high amounts of active drug on an oral thin film using its proprietary drug delivery systems, including its lead drug product, CUREfilm Blue™, a soluble thin film for oral administration of sildenafil citrate (Viagra™) to treat erectile dysfunction (ED) in China.
"Securing this key patent supports our global commercialization strategy for CUREfilm Blue as well as follow-on drugs delivered using thin film," said Rob Davidson, CEO of CURE Pharmaceutical. "We are focused on the Asian market for this first product, and in particular China, a high-demand ED drug market where consumers are early adopters of innovative dosage forms."
The ED drug market is expected to reach USD $6.5 billion at a 6% compound annual growth rate by 2025, according to QYResearch. The report points out that the Asia Pacific market will be one of the fastest growing markets for ED medicine. Sildenafil is leading the ED drug market worldwide with more than half of all global sales.
The new patent covers methods of preparing edible thin films that can deliver high doses of active ingredients that are encapsulated using lipids to form micelles or liposomes. This enables CURE to differentiate its oral thin film product from sildenafil oral soluble films.
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