Investor Ideas Potcasts #547, Cannabis News and Stocks on the Move; (TSX: WEED) (NASDAQ: CGC) (NASDAQ: CLVR)
Delta, Kelowna, BC - April 1, 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.
Listen to the podcast:
Investor Ideas Potcasts #547, Cannabis News and Stocks on the Move; (TSX: WEED) (NASDAQ: CGC) (NASDAQ: CLVR)
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.
Ikanik Farms Inc. (Formerly Canadian Imperial Venture Corp.) announced that, further to its news release dated March 30, 2021, the Company has received final approval from the Canadian Securities Exchange and will commence trading on the CSE under the symbol "IKNK", beginning April 6, 2021.
"I would like to thank our investors for their patience, and everyone involved who helped us get to where we are today. We are excited for what lies ahead in our pursuit to deliver value to our shareholders," said Brian Baca, CEO of Ikanik.
"We are pleased to begin trading on the CSE and proud of the major milestone it represents for our company" said Borja Sanz de Madrid, President Ikanik International Inc.
The Company has remained focused on international operations and Latin America positioning, completing all certifications required to export pharmaceutical grade cannabis flower and full-spectrum cannabis oil to international clients. Ikanik has entered the global, pharmaceutical cannabis market through its Colombian operations, Pideka SAS ("Pideka") and will support the European Union and Latin American markets with flower and finished ingredient cannabis oil, produced in its Casa Flores facility. Pideka was the first company in Colombia to export THC for commercial sale and the first to export THC to Mexico, contributing to the legalization of the process in both respective countries, when the process was complete. Pideka is also the first indoor, vertical cultivator of pharmaceutical grade cannabis producer in Colombia. The Company's certifications and operating efficiencies enable production of cost-effective, indoor cannabis and provides access to international markets.
Ikanik is in the process of entering the Mexican cannabis market, through the acquisition of Delta 9 Corporation in 2020. Through D9C, Ikanik holds the sole legalized "Amparo" in Mexico permitting the importation and registration of cannabis and hemp seeds, legalizing the commercial process to cultivate, manufacture, distribute both finished and bulk products nationally. The principals of D9C are seasoned regulatory and political experts who have been working hand-in-hand with legislators and heads of government to advance the legal framework for cannabis legalization in the country.
Ikanik's California operations have been led by its state-of-the-art technology-based distribution platform to execute and deliver value and efficiency to its customers. The Company's derives strength from the wholesale of house brands and third-party service offerings, such as co-packing, order fulfillment, and sales services to brands and cultivators.
Ikanik's 9,600 square foot indoor, vertical cultivation facility in Sacramento, CA is anticipated to be fully operational by May 2021, with a first harvest delivery of Ikanik's award-winning flower in Q2, to support both company operated and third-party dispensaries.
The Company is set to open its first dispensary and consumption lounge in Palm Springs with a target opening in June 2021. The dispensary features 2,200 square feet of retail space and an 1,800 square feet lounge, which we designed to accommodate the post-COVID consumer, through online order reservations, curbside pickup, and doorstep delivery options.
Additionally, Ikanik has expanded its category offering to include hemp-based CBD topical lotions and sports rubs under both Ikanik and Pideka brand names to independent sports retail stores and country distributors and sold over fifty-thousand units in the first quarter of this year. To support the Ikanik brand the Company has partnered and enrolled global athletes into its ambassador program with the recent signing of legendary surf icon, Rob Machado, a 30-year professional surfer and one of the sport's largest names.
The Company has teamed with up-and-coming snowboarding phenom, Toby Miller, to support and promote the Ikanik CBD brand among the athletic community. Toby has placed in the X games before and has made the invitation list to compete on this year's "invitation-only" platform. Along with earning a position on the US Snowboard team, for the men's halfpipe competition in the up coming winter Olympics.
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced that it has completed the acquisition of AV Cannabis Inc. ("Ace Valley") - one of Ontario's leading cannabis brands. With a strong focus on ready-to-enjoy ("RTE") products and a loyal following of millennial and Gen-Z consumers, the acquisition will strengthen Canopy's industry leading house of brands.
Through this acquisition, Canopy Growth will acquire 100 percent of Ace Valley with the intention of leveraging the Company's best-in-class national sales, marketing and distribution capabilities to expand the product portfolio and scale the brand across Canada.
"The team at Ace Valley has built a premium cannabis brand, with an impressive consumer following and we're excited to deploy the full distribution power of Canopy Growth to expand the brand to consumers across Canada," said Rade Kovacevic, President & Chief Product Officer of Canopy Growth. "Ace Valley's complementary consumer positioning fits perfectly into Canopy Growth's strategy of building authentic brands that truly resonate with consumers."
"This is a Canadian success story and proof of the enduring value of authentic, thoughtfully crafted brands and we're proud to have built a strong and loyal consumer following behind Ace Valley," said Mike Wagman and Jesse Dallal, Founders of Ace Valley. "Having collaborated with Canopy Growth through the early success of the brand, we're confident that the integrity of Ace Valley will endure as the talented team at Canopy Growth takes it to the next level."
Ace Valley holds top 5 and top 10 market positions in Ontario across its range of SKUs1 and complements Canopy Growth's existing portfolio of premium vapes, pre-roll joints, and gummies. Ace Valley has carved out a leading position and a particularly strong following among millennial and Gen-Z consumers. This success to date is a perfect example of the continued value of consumer-focused brands, confirming that many cannabis consumers are looking for premium, RTE products from brands they connect with.
Clever Leaves Holdings Inc. (NASDAQ: CLVR), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, today announced an agreement with Verdemed Holdings Inc. ("Verdemed"), a Latin American pharmaceutical cannabis company based in Toronto, Canada, to supply finished CBD products for the Brazilian and Peruvian markets. The initial portfolio of products includes finished formulations of CBD oral solutions with different concentrations used for different indications.
Verdemed supplies cannabis products in Brazil under the compassionate use model and has submitted applications to register finished products in Brazil and Peru. The products manufactured under this partnership will be registered as pharmaceutical products and sold into distribution channels such as pharmacies and drugstores.
"Verdemed is an important player in the Brazilian market with existing access to patients and is well-positioned to tackle the high regulatory hurdles in Brazil and Peru. This partnership expands Clever Leaves' presence in one of the largest markets in South America," said Kyle Detwiler, CEO of Clever Leaves. "We are committed to increasing access for the millions of patients within the growing Brazilian and Peruvian markets, and they will soon have access to the high-quality products we produce thanks to Verdemed's network."
"Partnering with Clever Leaves aligns with Verdemed's mission to offer the best cannabinoid products to all Latin Americans," said Jose Bacellar, CEO of Verdemed. "Clever Leaves' products meet all of the regulatory and product quality standards in each of our key markets, and their EU GMP and INVIMA GMP certifications distinguish their products and bring higher value to patients."
The Brazilian and Peruvian markets are expanding, and it is estimated that the Brazilian medical cannabis user base could reach close to 3 million people in the next few years. According to Prohibition Partners, with a population of 32 million, Peru's medical cannabis market is estimated to be worth approximately $100 million. As of September 2020, almost 8,000 patients were registered in the DIGEMID, Peru's drug regulatory authority database.
Finally, in legalization news, the states of New York, Virginia and New Mexico have put through new cannabis legislation.
New York legalized the use of recreational marijuana, enacting a robust program that will reinvest millions of dollars of tax revenues from cannabis in minority communities ravaged by the decades-long war on drugs.
Gov. Andrew M. Cuomo signed the cannabis legislation on Wednesday, a day after the State Legislature passed the bill following hours of debate among lawmakers in Albany.
New York became the 15th state to legalize the recreational use of cannabis, positioning itself to quickly become one of the largest markets of legal cannabis in the nation and one of the few states where legalization is directly tied to economic and racial equity.
New Mexico lawmakers also approved a bill to legalize marijuana for adults during a special legislative session on Wednesday, sending the years-in-the-making legislation to the desk of Gov. Michelle Lujan Grisham (D), who is expected to sign it into law. Lawmakers also passed separate legislation to expunge past convictions for low-level cannabis crimes.
Legal retail sales of cannabis are scheduled to begin by April 1, 2022.
"This is a significant victory for New Mexico," Lujan Grisham said after the vote. "Workers will benefit from the opportunity to build careers in this new economy. Entrepreneurs will benefit from the opportunity to create lucrative new enterprises. The state and local governments will benefit from the additional revenue. Consumers will benefit from the standardization and regulation that comes with a bona fide industry."
"And those who have been harmed by this country's failed war on drugs, disproportionately communities of color, will benefit from our state's smart, fair and equitable new approach to past low-level convictions," she said.
In Virginia the governor on Thursday officially proposed pushing up the timeline to implement marijuana legalization—one of a series of amendments to the reform legislation that he's submitting to lawmakers, who will consider them next week.
Gov. Ralph Northam (D) also addressed concerns over provisions dealing with home cultivation, expungements and worker protections.
Top legislators and reform advocates have been pushing for many of these changes, particularly moving up the effective date. The governor's proposal would make it so possession of cannabis by adults 21 and older would be legal on July 1, rather than in 2024 as the measure currently stipulates.
Home cultivation would be allowed starting on July 1 as well. Plants would have to be labeled with "identification information, out of sight of public view, and out of range of individuals under the age of 21," a summary states.
"Our Commonwealth is committed to legalizing marijuana in an equitable way," Northam said in a press release. "Virginia will become the 15th state to legalize marijuana—and these changes will ensure we do it with a focus on public safety, public health, and social justice. I am grateful to the advocates and legislators for their dedicated work on this important issue, and I look forward to this legislation passing next month."
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