Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 453 (TSX: WEED) (NYSE: CGC) (TSXV: KHRN) (TSX: FIRE)
Delta, Kelowna, BC - August 10, 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 453( TSX: WEED) (NYSE: CGC) (TSXV: KHRN) (TSX: FIRE)
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 public company announcements.
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) today announced its financial results for the first quarter fiscal 2021 ended June 30, 2020. The stock also rose by nearly $2 at the start of the day upon the release of the financial results.
"We're proud of our strong first-quarter performance, despite unprecedented volatility and uncertainty in the market and across the globe," said David Klein, CEO. "We grew our revenue year-over-year and are seeing market share improvement, notably achieving number one market share in cannabis-infused beverages in the Canadian market. We are implementing a renewed corporate strategy with the appointment of a new leadership team which will focus on delivering quality products to our consumers, positioning our business for continued growth. The proposed retooled Acreage announcement refocuses our entry for the evolving U.S. market, where we are seeing increased momentum."
"Following our previously announced restructuring actions, we have substantially reduced our expense and cash burn in this quarter in addition to reducing headcount by over 18% since beginning of this calendar year. Our marketing and R&D investments are being re-allocated to programs with high-return potential in order to drive sales," added Mike Lee, CFO. "Our gross margins in the quarter came in below our expectations due to under-utilization of our large-scale infrastructure. We've already proven we can deliver 40%-plus gross margin and are confident that we can return to that level as we work toward higher capacity utilization across our facilities as demand for our cannabis products continue to grow. In the meantime, we are focused on further optimizing our operating footprint through a full end-to-end strategy that looks at people, process, technology, and infrastructure that we believe will lead to best in class margins over time."
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) announced that it has signed a distribution deal for its KuidaTM CBD cosmeceutical brand with DNO Group, a leading distributor for the Asia Pacific market. Kuida skin and body care products will be distributed by DNO Group through their network of retail and online channels in Hong Kong, with first orders anticipated in Q4 2020. Distribution is conditional on TSXV approval.
"With this distribution deal we establish a significant footprint in Hong Kong for our Kuida brand and gain access to the Asian Pacific beauty and skincare market, the world's largest region for skincare products. DNO Group have a large distribution network of over 50,000 points of sales in the region, including prominent pharmacy, beauty retail and online channels that we know from experience in other jurisdictions are where our customers are choosing to purchase Kuida products. Importantly, DNO Group brings valuable insight into the Asian consumer profile, further supporting the impact of the brand roll-out in Hong Kong," comments Alvaro Torres, Khiron CEO and Director.
Hong Kong is a market that serves both the local population of 7.2 million and serves as an import hub for mainland China. The Hong Kong personal care and cosmetics market is experiencing robust growth with estimated revenue of US$2.7 billion achieved in 2018 and continues to expand with many beauty and personal care items considered daily necessities, as rising health awareness and image-consciousness drives demand.
Seven Kuida SKU's will be distributed into the Hong Kong market, with first orders anticipated in Q4 2020. This continues the Khiron strategy to target specific, high-value global CBD skincare market opportunities. Kuida is now available at over 350 points of sale in Colombia, as well as the UK and recently announced entry to Spain. Khiron was recently recognized by Technavio Research as one of the top global players in the CBD cosmetics market, alongside L'Oreal SA and The Estee Lauder Companies. Technavio is a leading global technology research and advisory company focused on emerging market trends.
"Kuida CBD based skincare products are well suited for consumers in Hong Kong, as well as for our portfolio and distribution capabilities. Furthermore, the efficacy of the products themselves is impressive. We expect a highly positive sales development for Kuida in Hong Kong going forward," said DNO Group's Managing Director, Ofri Shaysh.
The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) today announced the launch of Hiway, a new brand dedicated to providing frequent cannabis consumers with affordable products that do not compromise on quality.
"While we continue to see a strong market for our premium 7ACRES products, we are also seeing a tremendous consumer response to more affordable cannabis offerings; in July, dried flower products priced under $6 per gram accounted for approximately 40% of flower sales in Ontario," said Beena Goldenberg, President and CEO of Supreme Cannabis. "With Hiway, we aim to exceed consumer expectations for value products by delivering a quality product at an affordable price. Hiway benefits from our strong reputation and leading practices for growing and processing high-quality cannabis products. With the launch of this value-oriented brand, we are leveraging our competencies, capacity and efficiencies to build market share and create an exceptional experience for more cannabis consumers."
Hiway enters the Canadian cannabis market with Hiway Hash, a 2g solventless concentrate made by compressing dry sift kief from trichome dense, whole plant hang dried cannabis. The result is a picturesque brick of blonde hash that is divided into 2g pieces and packaged with care. This high-value hash boasts aromatic notes of sour citrus, diesel and spice as well as robust lemon and pepper flavours. Hiway Hash will initially launch in Alberta, British Columbia and Ontario and will quickly be available in more provinces.
Supreme Cannabis expects to expand Hiway's product portfolio to include large format flower, additional concentrate products, extracts and vapes. Supreme Cannabis will be promoting Hiway and its new offerings across Canada through its innovative sales partnership with Humble & Fume Inc., one of the industries premiere sales agencies.
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