Investor Ideas Potcasts #507, Cannabis News and Stocks on the Move: (CSE: PULL) (OTCQB: DRVD) (CSE: HOLL) (CSE: STEM)
Delta, Kelowna, BC - December 15, 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 #507, Cannabis News and Stocks on the Move: (CSE: PULL) (OTCQB: DRVD) (CSE: HOLL) (CSE: STEM)
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 private and public company announcements.
Pure Extracts Technologies Corp. (CSE: PULL), a plant-based extraction company focused on cannabis, hemp, and the rapidly emerging functional mushroom sector, announced their support of Health Canada's proposed intent to revise the Special Access Programme (SAP) and related regulations to permit certain authorized uses of psilocybin-assisted psychotherapeutic treatments. The intended SAP revision, announced on December 11th, could lead to important new medical applications, particularly in the complex and growing mental health sector.
Health Canada's announcement could act as a milestone achievement driving advanced research initiatives forward. This includes several ongoing clinical trials that consistently indicate breakthrough therapy potential of psilocybin-assisted psychotherapy for a number of mental health patients suffering from conditions where conventional therapies have failed or have proven unsuitable.
The proposed SAP update emphasizes the strategic importance of Pure Extracts engagement of a globally recognized operations, compliance, and regulatory consulting firm to advise on the Company's application to Health Canada for a Dealers Licence under the Controlled Drugs and Substances Act (CDSA). The CDSA and its Regulations provide the framework for legal access to controlled substances, and the control and regulation of production, distribution, and sale. One of Health Canada's responsibilities is to provide the licensing and oversight framework for the legal production of controlled substances.
Upon acceptance, a Dealer's License could allow Pure Extracts to engage in the following activities:
- Procurement of controlled substances, including by import, synthesis, propagation, cultivation and harvesting of psychedelic mushrooms for psilocybin extraction
- Research and manufacture of controlled substances such as psilocybin and psilocin
- Business to business sale of controlled substances, including by export
- Sale of controlled substance via pharmacies
Expanding upon the strategic importance of the SAP review, Pure Extracts recently announced a collaboration with Dr. Alexander MacGregor as a key scientific advisor to the Company. Pure Extracts and Dr. MacGregor are collaborating on the development and research of optimum psilocybin extraction methodologies in preparation to service the needs of the rapidly advancing growth and demand in the sector.
As previously noted, Dr. MacGregor is the Dean of Faculty, a distinguished Professor of Biopharmaceutics, and current President of the Toronto Institute of Pharmaceutical Technology (TIPT) - North America's premier post-graduate institute of pharmaceutical sciences, technology and research. He is also the CEO of TIPT's parent company, Transpharm Canada Inc., which holds a Health Canada Drug Establishment License, a Cannabis Drug License, and a Dealer's License issued under the Controlled Drugs and Substances Act (CDSA). Transpharm Canada conducts clinical trials, drug development and is licensed to possess psychedelic drug compounds.
Pure Extracts CEO Ben Nikolaevsky states, "The Special Access Programme may prove to be the tipping point and fundamental milestone event that eventually transforms an entire segment of the medical community's outlook towards the treatment of mental health conditions. With greater and more open access to trials, researchers can move towards larger and more comprehensive studies eventually including thousands of patient candidates. Through multiple large-scale studies, we see great promise in determining treatment safety, efficacy, and desired outcomes. Our research suggests a broad spectrum of products encompassing multiple formulations will be required to service demand across potentially intensive therapies through to microdosing protocols. Exact formulations and high-quality products will be required, and that is fundamentally the sort of work we understand and excel at. Here at Pure Extracts, we believe in the future of the mushroom-based drug development sector and are committed to building value based on the growing number of positive indicators for future success."
Driven Deliveries, Inc. (OTCQB: DRVD), one of California's fastest-growing e-commerce cannabis retailers and direct-to-consumer logistics companies, today announced it has secured preliminary approval for a new e-commerce delivery hub in the Fresno County region. Driven has also submitted its application for this new cannabis non-storefront retail license to the State of California which is expected to be approved in the near-term. Plans for Driven's acquisition by Stem Holdings, Inc. (OTCQX: STMH) (CSE: STEM) later this month are continuing on schedule, creating Driven By Stem trading under Stem's current symbols.
This new strategically-located hub will enable Driven to serve central California with greater efficiency and speed, and will be led by key experienced employees transferring to this location to ensure a smooth and flawless launch. This is expected to create 50 new jobs in the local area and afford significant cost savings in both general and administrative costs, as well as local taxes, with savings of $1.2 million annually vs. servicing this market from a remote hub.
"Securing a license in Central California is a key component in Driven's focus on building market share with increasing operational efficiencies in new and current markets," commented Salvador Villanueva, interim CEO of Driven, and founder of its Budee e-commerce brand acquired earlier this year. "Our focus on expanding our footprint in California with our Budee and Ganjarunner e-commerce stores as well as new markets will be the key to driving profitability in 2021," he concluded.
"We are pleased that this first step in our plan to integrate Driven into Stem's operations is nearing completion," stated Adam Berk, CEO of Stem Holdings. "Sal and the team have made great strides over the last 60 days as part of our 'On Your Mark' initiative to prepare for a seamless assimilation of Driven that will quickly build value for our shareholders," he remarked.
Driven currently has delivery hubs located in Oakland and Los Angeles, California, and will be expanding to the Oregon market in which Stem already operates by year-end.
Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) has its roots in the birthplace of the American biker, and Easyriders has been the definitive voice of motorcycle culture for half a century. As part of Easyriders' 50th-anniversary celebration, the Company signed an exclusive agreement with Hollister Biosciences to introduce a national line of cannabis products that embody the biker spirit and ethos. It is anticipated that the new line will make its debut next month with pre-rolls and mini pre-rolls, followed by a cannabis tattoo balm that's applied directly to the skin after new ink, with a full line of products coming in 2021.
The Company feels the market potential for these products is significant, but so is the cultural significance considering the two companies involved.
Easyriders magazine debuted shortly after the groundbreaking 1969 film Easy Rider in which Peter Fonda and Dennis Hopper portray bikers traveling across the American Southwest. Similarly, Hollister Biosciences is based in Hollister, California, home to an infamous 1947 biker rally that birthed the outlaw biker image and inspired the Marlon Brandon film The Wild One. Cannabis, which had developed its own outlaw culture a few decades before, became a staple among bikers in the late '60s onward. As epitomized in the pages of Easyriders, this vibrant biker culture grew beyond its outlaw origins to inspire an independent spirit that embraces exploration, Americana and the sense of freedom that only comes from riding.
This is a culture that accepts nothing less than total authenticity. That includes its choice in cannabis, and that is why Hollister Biosciences and Easyriders were destined to take this ride together. From their historic roots in biker culture to their embrace of its visual iconography, these companies will offer the first truly authentic cannabis products for one of the most iconic cultures in modern American history.
"My vision for Hollister has always been to pay homage to the amazing biker culture that has permeated the global landscape over the past few decades by combining it with amazing cannabis products," says Carl Saling, the Co-Founder, CEO and Director of Hollister Biosciences. "Easyriders is one of the most iconic and recognizable global biker brands. We are proud to be their exclusive cannabis partner, and we look forward to producing a truly authentic experience across the cannabis SKUs we develop and distribute across America."
Hollister Biosciences, whose products are currently found in nearly 300 dispensaries in California and more than 80 in Arizona, takes a seed-to-shelf approach that carefully scales up small-farm style production that meets the highest quality standards. As part of the new agreement, the company will introduce Easyriders pre-rolls and tattoo balms into the California market in early 2021 with a full line of products to follow. Like an eastbound ride on Route 66, Arizona comes next, and the rest of the American markets will follow.
Pepper Foster, President of Easyriders, stated, "My vision for Easyriders has been to pay homage to the 50 years of this iconic magazine and to Joe Teresi who launched Easyriders in the late 1960s. The first magazine hit the stands in June 1970, and 50 years later, we are proud to carry the torch, expanding upon that yen to be devoid of restraint by taking a broader look at what it means to be a biker in the 21st century while staying connected to our original roots. In continuing our commitment to authenticity, we are proud and excited to partner with another iconic brand, Hollister. We invite you to take the ride with us. Ride hard. Ride fast."
The terms of the deal are; 2-year exclusive agreement on all cannabis products in the US with an 80:20 net revenue split in favour of Hollister with options to renew for subsequent terms.
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