Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 494 (TSX: VFF) (NASDAQ: VFF) (CSE: HOLL) (OTC: HSTRF), (NEO: HALO) (OTC: AGEEF)
Delta, Kelowna, BC - November 11, 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 494 (TSX: VFF) (NASDAQ: VFF) (CSE: HOLL) (OTC: HSTRF) (NEO: HALO) (OTC: AGEEF)
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 will be looking at a few public announcements.
Village Farms International, Inc. (TSX: VFF) (NASDAQ: VFF) announced that Village Farms' wholly owned subsidiary, Village Farms Clean Energy, Inc. ("VFCE"), has renewed and extended its existing contract with the City of Vancouver under which VFCE receives landfill gas captured by the City of Vancouver at the City's landfill site in Delta, BC. The 20-year extension period, with an option for an additional five-year extension period, commences upon start-up of the Delta RNG Project commercial operations.
The renewed and extended COV LFG Contract enables Village Farms to transition VFCE to a more attractive long-term business model based on the conversion of landfill gas to high-demand Renewable Natural Gas (RNG), which will also generate food-grade liquid CO2, significantly reducing Village Farms' and Pure Sunfarms' reliance on natural gas to produce CO2 in their operations. The reduction in natural gas requirements is expected to eliminate 28,000 tonnes of CO2 emitted through natural gas production, or the equivalent of taking more than 6,000 automobiles off the road, annually.
VFCE has entered into a partnership with Mas Energy, LLC ("Mas Energy") for the Delta RNG Project, under which Mas Energy will design, build, finance (including all capital expenditure for construction), own and operate the Delta RNG facility.
"Throughout our history, Village Farms has been committed to environmental sustainability and clean agricultural technologies," said Michael DeGiglio, CEO, Village Farms. "The Delta RNG Project will allow Village Farms to take this commitment to the next level to meet the evolving energy needs of the region and further contribute to the reduction of greenhouse gases in the Fraser Valley, while the City of Vancouver will benefit from higher beneficial landfill gas utilization. Village Farms' and especially Pure Sunfarms' Delta greenhouses, will benefit from a reduced reliance on fossil fuel-sourced natural gas, as well as an improved earnings profile, with lower ongoing capital expenditure requirements. It's a win-win-win for the region, our Company and our shareholders."
"The City of Vancouver is pleased to continue our longstanding partnership with Village Farms for beneficial use of landfill gas from the Vancouver Landfill. Their new venture to convert the landfill gas into Renewable Natural Gas supports our on-going efforts to address the climate emergency and cut carbon pollution in Vancouver by 50% by 2030," said Albert Shamess, Director of Zero Waste and Resource Recovery, City of Vancouver.
"Mas Energy is proud to partner with Village Farms and the City of Vancouver on this exciting project," said Michael Hall, Principal at Mas Energy. "We look forward to starting site activities very soon and delivering the benefits of cleaner energy and air to the citizens of the Vancouver region for a long time to come."
Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF), a diversified cannabis branding company with products in over 280 dispensaries throughout California, and over 80 dispensaries throughout Arizona, announced the launch of its direct to consumer cannabis delivery platform, Dreamy Delivery ("Dreamy" or the "Platform").
The company soft launched Dreamy Delivery to friends and family in the San Francisco Bay Area of Northern California ("Bay Area"), to ensure a seamless customer experience in early Q4 of 2020. The Company has expanded the Platform, with Dreamy now successfully delivering to legal cannabis consumers in the Bay Area. The Company hopes to launch Dreamy in Sacramento and the Central Coast of California by late Q4 of 2020 with the ultimate goal of delivering Cannabis statewide.
Carl Saling, CEO of Hollister, shared: "This is a major first step in our quest to be the dominant direct to consumer platform delivering cannabis to the entire state of California."
Halo Labs Inc. (NEO: HALO) (OTC: AGEEF) has closed its previously announced acquisition of U.K. based cannabis distributor, Canmart Ltd. As a result of the Acquisition, Halo has acquired 100 percent of Canmart's issued and outstanding common shares and, in doing so, one of the few distribution platforms for cannabis-based products for medicinal use ("CBPMs") in the U.K.
- Upon closing the Acquisition, Halo has secured:
- All the licenses needed to import and wholesale CBMPs in the U.K.
- Operations in a 30,000-square-foot , third-party logistics warehouse in southeast England managed by Canmart, focusing on the pharmaceutical and healthcare industries.
- A management team with over sixty years of combined logistics and distribution experience in the pharmaceutical and healthcare sectors to grow the business.
- In addition, the terms of the Acquisition provided for:
- The entering into of a pooling agreement whereby the Canmart Shareholders have agreed not to, in the aggregate, during any trading day, sell on a Canadian stock exchange such aggregate number of Halo Shares that would exceed ten percent of the prior trading day's total volume of sale orders in Halo Shares.
- The entering into of an escrow agreement whereby ten percent of Halo Shares issued to the Canmart Shareholders on closing of the Acquisition will be escrowed for a 24-month period after closing.
- Consultation services provided by Anmoho LLC - an arm's length consultant for the Company - which includes general and advisory review, due diligence, the preparation of a valuation in exchange for an aggregate of 10,156,250 Halo Shares. Anmoho LLC entered into a volume restriction agreement whereby Anmoho will not during any trading day sell on a Canadian stock exchange such aggregate number of Halo Shares that would exceed five percent of the prior day's total volume of sales orders in Halo Shares.
In a 2019 study, the International Energy Association reported 255 tons of cannabis were sold in the U.K. at a cost of £2.6 billion (CAD$3.4 billion) to three million consumers1. A 2019 publication by Dr. Daniel Couch of the Centre for Medical Cannabis estimated that each year 1.4 million U.K. citizens self-medicate with cannabis illegally.2 It is thus understandable why experts predict as a result of loosening restrictions by 2024, that the legal U.K. medical cannabis market has the potential to reach 400,000 active patients and £1 billion ($1.3 billion) in value. Factoring affordability and easier access, and up to 52 treatable conditions, leading market intelligence firm, Prohibition Partners3, estimates that the total patient base for medical cannabis use in the U.K. could reach four million during the same time period.
Additionally, the Extract Industry advocacy group recently reported the following positive developments in the U.K. cannabis industry that demonstrate the adoption rate of legal medical cannabis:
- The number of cannabis clinics has increased by 50 percent in 2020 with over 10 separate locations across the country.
- Cannabis clinics now have an ever growing waiting list with the biggest chain of 1,000 patients.
- After a patient has been seen by a provider, prescription rates have grown to 96 percent.
- The Care Quality Commission has authorized the use of telemedicine consultations to treat patients as a result of the COVID-19 pandemic.
In December 2018, Canmart was one of the first movers to anticipate the growing legalization of medical cannabis in the U.K. With expertise in cannabis education, storage and distribution, Canmart holds all relevant licenses to attain bulk importation, as well as store and distribute CBPMs. Canmart possesses the necessary logistics expertise, storage facilities, solid pharmaceutical and healthcare relationships in order to meet the country's growing patient base and demand for medical cannabis products.
"We are so enthusiastic about the acquisition of Canmart and our growth plan for the United Kingdom," Co-Founder and Chief Executive Officer of Halo Labs, Kiran Sidhu said. "Since the attainment of our cultivation site operated by Bophelo Bioscience & Wellness in Lesotho, South Africa, we've been able to achieve the cultivation and distribution of high-quality cannabis, derived from exclusive, proprietary genetics under license from OG DNA Genetics. The closing of the Canmart acquisition will allow us to further expand our reach of medicinal cannabis to patients looking for individualized treatment in the United Kingdom and create new international avenues for distribution while raising Halo's gross margin."
New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF), a management and investment organization dedicated to evaluating and accelerating advanced stage operations in the North American Cannabis sector announced an agreement whereby its New Leaf USA venture operations with brand license operator New Leaf Enterprises has concluded an agreement with Washington state-based Schilling Hard Cider for the creation of proprietary formulations, brand and distribution strategies for a family of cannabis infused beverage products.
"We have entered into a collaborative strategic partnership with Schilling Hard Cider," notes New Leaf's Operations Chief, Boris Gorodnitsky. "We intend to launch our strategy with two exciting lines of casual beverages with around 2-4mg of THC in conventional six packs of 12-ounce cans or bottles. Our plan is to create a beverage that has the same drinkability as beer or hard cider, suitable for 1-3 bottles or cans consumed in an evening to achieve a light to medium effect. Schilling Hard Cider's seasoned team will create the final formulations and branding. They will consult with us regarding production methods and provide licensing for the base formulations that we will infuse with high quality THC. Then New Leaf will put the product into cans, package and distribute it."
Founded in Seattle, Schilling Hard Cider has become a high-profile success story. Their innovative flavor forward beverage formulations provide the basis for New Leaf's move into the casual cannabis beverage sector. Schilling is ideally positioned, as an article by The Craft Brewing Business noted that ready-to-drink (RTD) products in 2019 were the fastest growing beverage alcohol category over the past three years. This is fueled by the innovation and convenience of hard seltzers in the US. Trend data suggests innovation, affordability, refreshment, convenience and youth appeal have contributed to sales growth. Colin Schilling, Co-Founder and CEO of Schilling Hard Cider brings multi-generational entrepreneurial family history and values to the team at Schilling which combines that outlook with modern cider-making techniques to produce innovative, high quality and complex hard ciders and custom formulations.
Colin Schilling comments, "We aim to bring the same approach to creating superior results in this whole new class of THC-infused products as we do with our traditional beverages. In many ways I'm delighted to see the big players are getting involved as this shows the market has serious growth potential. But I'm a believer in craft quality and the importance of local cultures. In that regard, we believe the team at New Leaf have a similar outlook. Together, I think we can do great things for the casual beverage marketplace both here in Washington and someday across the nation."
Michael Stier, CEO of New Leaf Ventures states, "When the team in Seattle brought this concept to us it virtually sold itself. The revenue numbers for the beer and hard cider markets alone are astronomical. By any reasonable measure, capturing even a slice of the available percentages and growing a solid brand built on quality, taste, and measurable effect is a winning concept. Our strategy has both near and long-term upsides with an initial launch planned for early 2021 with retail sales commencing in Washington state recreational cannabis stores with an eye on expanding to other states. The Company is also looking at CBD beverage options which could be sold at thousands of retail outlets across the Country. The relationship with Schilling also brings access to their strong relationships with national beverage distributors. So as product pathways begin to open, New Leaf will be well positioned for category placement in supermarkets and convenience stores. This is an exciting opportunity for the Company, our shareholders, and consumers alike. We look forward to working closely with the team at Schilling."
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