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Investor Ideas Potcasts #546, Cannabis News and Stocks on the Move; (TSXV: NRTH) (TSXV: N) (OTC: NXTTF) (OTC: MJNA) (TSX: HMMJ) (NEO: HMUS)

 

Delta, Kelowna, BC - March 30, 2021 (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.

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https://www.investorideas.com/Audio/Podcasts/2021/033021-StocksToWatch.mp3

Investor Ideas Potcasts #546, Cannabis News and Stocks on the Move; (TSXV: NRTH) (TSXV: N) (OTC: NXTTF) (OTC: MJNA) (TSX: HMMJ) (NEO: HMUS)

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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.

48North Cannabis Corp. (TSXV: NRTH) a vertically integrated licensed producer focused on manufacturing high-quality cannabis products and building progressive and thought-provoking brands, announced changes designed to streamline its operations and further improve margins.

48North will immediately cease operations at its "Good:Farm" outdoor cultivation facility located in Brant County, Ontario. This decision is an important step in the Company's path to profitability as it increases its focus on efficient product manufacturing, branding, and distribution. The decision comes during a significant transitional period for the industry and a nationwide excess of supply.

"48North has always been a brand-led, consumer-centric licensed cannabis producer with a mission to provide an expansive portfolio of high-quality, accessibly-priced products across the country," said Charles Vennat, CEO of 48North. "Today's announcement best positions us to execute this mission, by restructuring our workforce and redeploying resources towards commercialization, branding, innovation, and deepening relationships with retailers and wholesalers. This was a difficult decision. I want to thank the impacted employees who dedicated so much to their work with 48North," Charles Vennat continued.

As a result of the decision, 48North will reduce the size of its workforce by approximately 20 per cent. The Company is confident that supply from DelShen, the Company's indoor facility in Kirkland Lake, Ontario, combined with strategic partnerships with other licensed producers, will ensure the quantity and quality of cannabis products required to meet expected demand. Today's announcement is part of other ongoing initiatives focused on positioning 48North for sustainable growth and decreasing the Company's cash use as it accelerates its pathway to profitability. The Company expects the change will result in annualized fixed operating costs reductions in excess of $5 million.

The Company also announced that two of its senior leaders will be leaving. Kirsten Gauthier, who has been with the Company since 2017, most recently serving as its Chief Growth Officer, has made the decision to move on from 48North, effective March 29th. Sean Byrne, who joined the Company more recently, has also elected to resign from his role as Chief Financial Officer. Donnacha Rahill will serve in the role of interim CFO, effective immediately, while a search is conducted for a permanent replacement. Mr. Byrne has agreed to remain on hand to provide transitional support to Mr. Rahill until early April.

"It would be hard to think of another leader at 48North or any Canadian cannabis company who has brought more in the way of creativity, vision, and commitment to customers than Kirsten," said Charles Vennat. "Kirsten's hard work developing and nurturing brands that meaningfully connect with consumers will continue to be central to the Company's strategy. While Sean had a shorter tenure with the Company, we are immensely grateful for the experience, professionalism, and diligence he brought to his work with 48North."

"Starting with nothing but our ideas and conviction that the plant can give people the latitude to live well, we have built an incredible company. I am grateful to have been a part of it and will continue to be an enthusiastic supporter from the sidelines," said Kirsten Gauthier, Chief Growth Officer. "Despite making the decision to take a new professional path, I wish 48North nothing but the best. They have a strong team, a brand that meaningfully engages with customers, and a focused strategy to reach profitability," said Sean Byrne.

The Company makes this announcement from a position of strength in both market share and brand recognition, with the number one topical in Ontario, the number one concentrate in Ontario and Alberta, and dried flower and pre-rolls consistently ranked in the top ten in Canada. Today's Good:Farm closure and workforce allocation better position the Company to capitalize on this strength as it works towards profitability in the first half of fiscal 2022 and onward.

Namaste Technologies Inc. (TSXV: N) (OTC: NXTTF) a marketplace platform for cannabis and wellness products, reported its financial results for the year ended November 30, 2020. All financial figures are in Canadian dollars unless otherwise indicated.

Highlights of Consolidated Financial Results:

  • Gross revenue for the fourth quarter ended November 30, 2020 was $8.0 million (compared to $4.0 million in the same period last year), and for the fiscal year ended November 30, 2020 was $27.1 million (compared to $16.4 million in the fiscal year ended November 30, 2019), representing an increase of 100% from the same quarter last year and an increase of 65% from the prior year, respectively.
  • Net revenue for the quarter ended November 30, 2020 was $7.2 million (compared to $3.9 million in the same period last year), and for the fiscal year ended November 30, 2020 was $25.1 million (compared to $16.3 million in the fiscal year ended November 30, 2019), representing an increase of 85% from the same quarter last year, and an increase of 54% from the prior year, respectively.
  • The $3.3 million improvement in net revenue for the fourth quarter ended November 30, 2020 over the same quarter in the prior year ($8.8 million YTD) was primarily attributable to the increased revenues from the sale of cannabis products.
  • The Company's net loss has shown substantial improvement as compared to 2019. Net loss for the fourth quarter ended November 30, 2020 was ($6.4 million) compared to a net loss of ($29.7 million) for the fourth quarter ended November 30, 2019. Net loss for the fiscal year ended November 30, 2020 was ($26.4 million) compared to a net loss of ($63.2 million) in the fiscal year ended November 30, 2019. The Company is committed to maintaining these positive trends.
  • The Company's working capital position remains strong at $16.5 million as at November 30, 2020.
  • Subsequent to year-end, the Company successfully closed a $23 million bought deal offering.

Recent Corporate Highlights:

  • Launched CannMart.com into the USA offering Americans hemp derived CBD and smoking accessories.
  • Announced the addition of leading licensed producers to the CannMart.com platform: Auxly Cannabis Group, Hexo Corp and The Green Organic Dutchman Holdings (TGOD).
  • Received a standard processing licence from Health Canada for CannMart Labs Inc., our state-of-the-art BHO extraction facility.
  • Announced expansion to broaden our total addressable market and to evolve into a pre-eminent wellness company, connecting consumers to their wellness needs of tomorrow.

"We are pleased with the progress made by the team to achieve the highest recorded quarterly revenue for the company to date," said Meni Morim, CEO of Namaste. "We achieved significant year-over-year growth of revenue as cannabis sales through CannMart's distribution channels made an important contribution to the revenue stream. The Company is in a strong financial position today made possible from the considerable work undertaken in 2020 to lay the foundation for long term growth as Namaste continues its evolution to be the world's foremost personalized wellness marketplace."

Horizons ETFs Management has completed the quarterly rebalances of the constituent holdings of the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ) and the Horizons US Marijuana Index ETF (NEO: HMUS).

HMMJ is the world's first ETF that offered direct exposure to North American-listed securities having significant business activities in the marijuana industry. This quarter, 11 constituents were added to HMMJ's portfolio:

Company Name

Ticker

Exchange

Agrify Corp.

AGFY

NASDAQ

Cardiol Therapeutics Inc.

CRDL

TSX

GrowGeneration Corp.

GRWG

NASDAQ

GTEC Holdings Ltd.

GTEC

TSX-V

Hydrofarm Holdings Group Inc.

HYFM

NASDAQ

Namaste Technologies Inc.

N CV

TSX-V

Rubicon Organics Inc.

ROMJ

TSX-V

Willow Biosciences Inc.

WLLW

TSX

WeedMD Inc.

WMD

TSX-V

XPhyto Therapeutics Corp.

XPHY

CSE

Zenabis Global Inc.

ZENA

TSX

"After the Canadian cannabis sector's powerful resurgence in late 2020, all eyes were on the industry's forward momentum into 2021," said Steve Hawkins, President and CEO of Horizons ETFs. "We have continued to see strong sales momentum across the provinces and an increasingly competitive marketplace, as highlighted by the amount of new additions to HMMJ – all positive signs for the sector's ongoing health."

HMUS is the world's first U.S.-focused marijuana index ETF. HMUS seeks to replicate, to the extent possible, the performance of the US Marijuana Companies Index, net of expenses. This index, which also rebalances quarterly, has been designed to provide exposure to the performance of a basket of publicly listed companies with significant business activities in, or significant exposure to, the marijuana or hemp industries in the United States. Constituents of this index are selected from Canadian and U.S. exchanges.

This rebalance resulted in 15 additions to the HMUS portfolio:

Company Name

Ticker

Exchange

Australis Capital Inc.

AUSA

CSE

Body & Mind Inc.

BAMM

CSE

Bluma Wellness Inc.

BWEL

CSE

Empower Clinics Inc.

CBDT

CSE

Centr Brands Corp.

CNTR

CSE

Flower One Holdings Inc.

FONE

CSE

Greenlane Holdings Inc.

GNLN

NASDAQ

Harborside Inc.

HBOR

CSE

High Tide Inc.

HITI

TSX-V

Juva Life Inc.

JUVA

CSE

Next Green Wave Holdings Inc.

NGW

CSE

Stem Holdings Inc.

STEM

CSE

Cansortium Inc.

TIUM

CSE

Vibe Growth Corp.

VIBE

CSE

Vireo Health International Inc.

VREO

CSE

 

"With key cannabis reform bills slated for introduction and voting in the coming months, 2021 might prove to be the year that defines marijuana legalization in the United States," said Mr. Hawkins. "Following the recent passage of marijuana legalization in Mexico, the United States is now flanked on both its borders by countries with legal marijuana regimes. Not only could that create greater social and economic pressure for federal reform but it offers the multi-state operators additional markets for potential expansion once the opportunity is available."

Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, announced that its subsidiary HempMeds® is proud to welcome X Games world record-holding skateboarder Italo Penarrubia as its newest brand ambassador.

"We are excited to bring Penarrubia on as a part of our team and it is heart-warming to know how much our products have helped him over the years. We believe his support and recognition will help us further educate athletes and the general public on the health and wellness benefits of hemp-based cannabidiol (CBD) products," said HempMeds® CEO Raul Elizalde.

Penarrubia is a renowned skateboarder and has performed in several X Games competitions, including his most recent appearance in X Games Minneapolis in 2019. At the 2017 X Games in Minneapolis, he earned a world record for the highest SKB Big Air height ever recorded at the X Games. After spending several years training in the U.S., Penarrubia recently relocated back to Brazil to continue his career and raise his family.

"I have been using HempMeds' CBD products for years to aid in recovery after long days of training," said Penarrubia. "My goal is to help bridge the knowledge gap for athletes around the world that could benefit from using CBD but are afraid or unsure of how to use the products."

Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment.

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