Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 409 (CSE: BEV) (OTC: BVNNF) (OTC: SING) (OTC: HEMP) (TSX: RIV)
Delta, Kelowna, BC - May 5, 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 409 (CSE: BEV) (OTC: BVNNF) (OTC: SING) (OTC: HEMP) (TSX: RIV)
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.
Today's podcast we will be looking at a few public and private company announcements.
Under the license agreement (the "Agreement") dated April 30, 2020, BevCanna will act as the exclusive licensee and co-packer for the award-winning Keef lines of beverages in Canada. BevCanna will leverage its extensive experience in developing and launching beverages in the Canadian market to maintain responsibility and compliance with Health Canada, as well as all related national sales and distribution efforts.
In addition to BevCanna's role as licensee for Keef in Canada, BevCanna has engaged Keef, via its network of licensed manufacturing partners, to co-pack and distribute BevCanna's cannabis-infused beverage products in the United States. BevCanna will leverage the extensive Keef manufacturing and distribution network, which includes thousands of licensed dispensaries and delivery services across Colorado, California, Arizona, Nevada, Michigan, Oklahoma, and Puerto Rico. An April 2020 Headset Insights report also found that Keef Brands offers six of the top ten-selling cannabis beverages in Colorado, as well as three of the top ten-selling in California. The Agreement as it relates to Canada, the United States, and other markets is described in further detail below.
"This partnership with Keef Brands is a fantastic opportunity for BevCanna," said John Campbell, Chief Strategy Officer at BevCanna. "Keef's robust U.S. co-pack and distribution network will be a significant asset to BevCanna's expansion plans in the U.S., and BevCanna's expertise in the Canadian infused beverage market will build Keef's Canadian presence. It's a strong combination, with excellent potential for both companies."
Buddi, a Canadian company based in Vancouver, BC, and the Canadian leader in cannabis menu services, announced the release of cannabis click & collect payments and cannabis delivery services in Ontario. The services will be made available Canada-wide as permitted by provincial regulatory bodies.
"The Alcohol and Gaming Commission of Ontario was quick to adjust regulations to allow online payments and delivery in response to COVID-19. We made it our top priority to ensure our existing and new clients can adjust to the new reality, which is that their businesses will begin to rely heavily on online ordering. Online ordering is definitely the new normal." - Ryan Lalonde, CEO of Buddi
Buddi has partnered with payment processing companies Merrco and Moneris, who service a large majority of the Canadian cannabis industry, to allow retailers who are using either payment gateway to utilize Buddi Click & Collect payments. Buddi also partnered with cannabis logistics firm Cannalogic to enable retailers to offer and manage their delivery services.
Buddi Click & Collect menus can be embedded within any website so that retailers can sell directly to their customers without customers having to go to marketplace sites that also promote competitors. The system integrates with leading cannabis POS solutions, such as Cova, Greenline POS, TechPOS, Shopify, and Profitek.
"Many people are surprised to learn that our solutions are free, and it's because of our unique business model that is based on advertising or analytic insights for licensed producers. Ultimately, this allows the solution to be entirely free for retailers, helps them sell more, and leads to them getting better quality products and customer service from their LP vendors - it's a win-win."
SinglePoint Inc. (OTC:SING) announced starting Q2 with strong numbers and the focus on continued growth. After evaluating reports for Q2, SinglePoint's Hemp vertical is on track to double sales in its second quarter alongside the launch of 1606 Hemp six-pack counter top display. 1606 Hemp has seen a sales growth rate of 133% this quarter over the previous, a 233% growth in sales up to this point of the month compared from the previous month at the same point. The company has placed a focus on self-generated in store placement by hiring professional sales representatives to acquire new stores for the sales of our products over the next four weeks. 1606's goal is to grow by more than 250 retail accounts throughout multiple states.
As the company continues to see success, management believes 1606 Hemp will be able to provide approximately $2,750,000 to $5,500,000 in revenue selling to just 1,000 stores. As the roll out is successful and we achieve 250 accounts in the next four weeks, 1606 Hemp will bring on additional individuals to scale up to as many as 2,500 stores as quickly as possible in order to achieve reorders from 1,000 stores. Management believes the current total addressable market is approximately 125,000 locations or more.
As new accounts have been established, we have received a noticeable increase in reorders and sell-through rates at stores as customers are becoming more familiar with the brand. In the past month, we have been able to grow our social media presence to over 10,000 followers and millions of impressions. The 1606 Hemp website has also had a major lift this month seeing nearly a 40% increase in new users and 33% increase in page views across the site. Users are also spending more time on the site than in previous months, leading to more conversion and engagement for the brand.
1606 Hemp is working to become the leading recognized brand in the combustible hemp market which is the second fastest growing market in the hemp category. The big differentiator for 1606 Hemp is the ability to place a countertop display unit at retailers across the nation. While others are working to dominate the online market, we have a general belief this type of consumable product will continue to be bought in convenience stores, smoke shops and bodegas throughout the nation.
Hemp, Inc. (OTC: HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers, including the 85,000 square foot multipurpose industrial hemp processing facility on 9 acres in Spring Hope, NC, a 55,000 square foot state-of the art local processing center in White City, Oregon, a 500-acre hemp growing Veteran Village Kins Community in Golden Valley, Arizona, two model "Small Family Hemp Farms" in North Carolina and Arizona, a pre-roll blending manufacturing facility in Las Vegas, NV, and a 5,000 square-foot retail store in Kingman, Arizona, has announced the launch of the King of Hemp™ website where Bruce Perlowin's King of Hemp™ pre-rolls, made from premium, smokable hemp flower, are available for purchase.
Hemp, Inc. CEO Bruce Perlowin's King of Hemp™ pre-roll line offers high-end products that are an effective and flavorful, smokable alternative to cigarettes and other hemp consumption methods. The newly launched King of Hemp™ pre-rolls are compliant with the 2018 Farm Bill, federal regulations, and regulations in the markets where they are available for purchase. The King of Hemp™ pre-rolls can be purchased individually or in packs of 6. Each pre-roll is 1 gram and does not exceed 0.3% THC.
King of Hemp™ pre-rolls use A and B hemp colas which are derived from Pre-98 OG Bubba Kush, one of the top selling cultivars on the market. The strain, rich soil and climate lend themselves to these colas being among the highest quality buds, positioning them to be some of the best tasting for consumption.
The Company's new website for its King of Hemp™ line (www.kingofhempusa.com) also has CBD oil tinctures available for purchase. The tinctures are available in two flavors, Natural and Peppermint, and contain full-spectrum hemp oil extracted from the flowers and leaves of hemp plants sustainably sourced from Colorado. They are also compliant with the regulations created by the Colorado Department of Agriculture in regards to industrial hemp. The tinctures contain .3% or less THC and are compliant with the 2018 Farm Bill.
"The King of Hemp™ pre-rolls were well received during our soft launch and have been lauded as one of the best smokes out there. We crafted them with great care -- from concept to the cola, and now with our official launch," said Hemp, Inc. CEO Bruce Perlowin. "We really wanted to give this product line the time and respect it needed to be brought to market. I'm very excited for hemp enthusiasts, CBD patients and first-time hemp smokers to enjoy the King of Hemp™ pre-roll line."
Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) announced a C$2 million investment in Dynaleo Inc., an Edmonton-based company focused on white-label manufacturing edible cannabis gummies for the Canadian market. Through this investment in what the Company anticipates may become a leading industrial scale Canadian gummies manufacturer, Canopy Rivers believes it is capitalizing on a significant opportunity in what is currently an underserved and underdeveloped segment of the cannabis market. Once Dynaleo receives the required licencing from Health Canada, it expects to begin operating its 27,000 sq. ft. purpose-built facility with the goal of producing enough gummies to take a sizable bite out of the projected edibles market.
"We believe that Dynaleo is positioned to become a market leader in cannabis edibles manufacturing in Canada," said Narbé Alexandrian, President & CEO, Canopy Rivers. "In the gummies market specifically, we see a significant supply and demand imbalance and a move towards outsourcing products to leading manufacturers. We think Dynaleo's manufacturing capabilities, combined with its capable management team, position it to help close this supply gap in the short term and become a trusted manufacturer of cannabis edibles in the long term."
When Cannabis 2.0 launched in Canada, regulatory uncertainties around the gummy format led many license holders to focus on other edible cannabis formats, with only some licensed producers investing in the infrastructure to produce gummies. As a result of this, initial market observations suggest that the demand for edibles is significantly ahead of supply, with limited product availability and consistently high out-of-stock rates relative to other products.
Headset data from mature U.S. markets, combined with Deloitte's projection that Canada's edibles market could be worth $1.6 billion annually, indicates that there is an opportunity for increased gummy production in Canada. In Colorado and California, Headset reports that gummies were the top selling edible product, accounting for 55% and 56% of edible cannabis sales respectively in 2019. Assuming that Canadians emulate these consumption habits, Canadian licensed producers may not yet have the production capacity or partnerships to fulfill this demand.
And finally, Nevada Governor Steve Sisolak announced on April 30, 2020 that marijuana dispensaries in Las Vegas and throughout Nevada could begin selling their products for curbside pickup beginning on May 1st. Initially, Gov. Sisolak declared marijuana dispensaries essential, but quickly moved to allow home delivery only. Many dispensaries were unprepared to switch to a delivery only model and had remained closed from March 20th until now. There are expectations that wholesale and retail sales will slowly rise as all of the State's dispensaries reopen for curbside pickup. The recently formed Nevada Cannabis Compliance Board, which will take over regulatory authority from the Department of Taxation on July 1, 2020, is overseeing the dispensary re-openings and their plans for curbside pickup.
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