Investor Ideas Potcasts #574, Cannabis News and Stocks on the Move; (CSE: CRFT), (TSX: VLNS) (OTCQX: VLNCF) (TSXV: KHRN) (OTCQX: KHRNF), (TSXV: LOVE) (OTCQB: LOVFF)
Delta, Kelowna, BC - June 10, 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 #574, Cannabis News and Stocks on the Move; (CSE: CRFT), (TSX: VLNS) (OTCQX: VLNCF), (TSXV: KHRN) (OTCQX: KHRNF), (TSXV: LOVE) (OTCQB: LOVFF)
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 private and public company announcements.
BC Craft Supply Co. Ltd., (CSE: CRFT), a diversified wellness company advancing cannabinoid and psychedelic innovation and psychotherapy, announced the launch of Grizzlers™, its flagship legacy cannabis brand into the markets of Ontario and Alberta.
Grizzlers™ is a legacy brand of pre-rolled craft cannabis; offering access to premium grown, hang dried, hand trimmed, and hand packed cannabis at accessible prices. Since its inception in 2017, Grizzlers™ quickly grew to be the most widely available legacy pre-roll producer in the country; achieving national distribution and wide-scale brand recognition.
Fueled by significant market anticipation, Grizzlers™ is launching two SKUs: a 7 x 0.5g (multi-pack) format and a 0.5g (single-serve) format, both in an Indica dominant Black Cherry Punch.
Market reception to date has been overwhelming. Ontario has ordered and shipped over 6,000 multi-packs, with re-orders already in tow from the Ontario Cannabis Store ("OCS"). Alberta has ordered 7,200 multi-packs, with over 20,000 single-serve packs ordered and shipped.
Grizzlers™ signature pre-roll Indica formats will be available to order at the OCS and through private retailers in Alberta as of June 15, 2021.
CRFT CEO, Matthew Watters, commented, "Our commitment to craft, focus on the flower, accessible pricing, and of course our legacy market clout, set Grizzlers™ apart from the rest. We're excited to offer customers something they've been waiting for - a legacy market product at a legacy market price."
Offering a reimagined vision for craft markets through collaboration, expertise, and adaptation, the Company has partnered with award-winning cannabis marketing company AHLOT, and cannabis cultivator and processor SAFARI FLOWER to expand Grizzlers™ distribution nationally and restore much need access to its existing following of loyal customers.
Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF), a vertically integrated producer of premium-grade cannabis and derivative products with one of the largest indoor cannabis cultivation facilities in Canada and the largest in Quebec, today announced that it has entered into a definitive agreement to acquire a one million square foot licensed cultivation and manufacturing facility in Valleyfield, Quebec from Medican Organic Inc., a wholly-owned subsidiary of The Green Organic Dutchman Holdings Ltd. , through an all-cash offer of $27 million plus the funding of certain deposit requirements of approximately $5.7 million.
"With this acquisition, Cannara continues to increase its footprint and create more jobs in its home province of Quebec," said Zohar Krivorot, President & Chief Executive Officer of Cannara. "Today's announcement reinforces our position as one of Canada's top leading producer of premium-grade cannabis and cannabis derivative products."
Located in Valleyfield, Quebec, the newly built state-of-the-art facility spans over 1,033,506 sq. ft. providing Cannara the ability to reach an annual cultivation capacity of 125,000 kg of premium-grade cannabis.
"While already marked by a strong balance sheet, we believe that this transaction significantly bolsters our business fundamentals, including annual output, profitability and overall financial position," said Nicholas Sosiak, Chief Financial Officer of Cannara. "Underlying this acquisition is our confidence in the broader market for competitively priced premium-grade cannabis products and our intention to capture a significant share of it."
"This is a major transition point for the Company, as we continue to execute our plans, allowing us to significantly reduce our debt while right-sizing our operations in Quebec without disruption," commented Sean Bovingdon, TGOD's CEO and Interim CFO. "Furthermore, we are pleased to be in position to provide for potential future growth in cultivation in Quebec through the leaseback of an appropriate portion of the Quebec Facility. Our portfolio of products is receiving positive reviews across the country and we look forward to providing Quebec with locally grown products, as demand continues to increase. Our balance sheet is being strengthened through the sale of excess assets and the elimination of term debt, and we expect annualized net cashflow savings of approximately $4 million in interest and overhead costs. This sets the foundation for the Company to take advantage of other growth opportunities in Canada and the United States," added Bovingdon.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF), a vertically integrated cannabis leader with core operations in Latin America and Europe, today announced the launch of its first ZereniaTM clinic outside of Colombia, in Lima, Peru. Following the success of the Company's clinic strategy in Colombia, the new clinic has been established as a strategic partnership between Khiron and Clinica Montesur, a specialized medical provider in Lima with over 90 physicians and more than 11,000 patient transactions annually.
Alvaro Torres, CEO and Director comments, "I am pleased to announce the first expansion of our Zerenia brand beyond Colombia. Knowing that prescription rates at our Zerenia clinics are 14 times higher than those of our external clinic partners, we are excited to bring a proven marketing, sales, and distribution model to a market of over ten million people. To date, our Zerenia clinics have played a vital role in not only introducing patients to Khiron products, but also in developing an exceptional patient experience and growing base of returning patients. As we continue to develop our unique, service-oriented platform, we are proud to introduce Zerenia to the Peruvian market, where initial reception to our products has been strong since sales began late last year."
With over 30 years of experience in Peru, Clinica Montesur is dedicated to high quality care across 19 areas of specialization, including oncology, dermatology, ophthalmology, and psychology. As part of the strategic partnership, Clinica Montesur will provide clinic infrastructure, including its medical facility, clinic permits, systems, and medical staff, among others. The partnership will leverage Khiron's unique ZereniaTM medical cannabis model, including the Company's medical cannabis education platform, real-world evidence, and standard operating procedures. Patients of the clinic will be able to fill prescriptions for High THC and Low THC (CBD) medical cannabis at ten Farmacia Universal S.A.C. locations throughout Lima, as previously announced by the Company.
The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF), a leading manufacturer of cannabis products, today announced that it has joined the Cannabis Council of Canada ("C3") - the national membership organization representing cannabis producers and processors licensed under the Cannabis Act. C3's mission is to advocate for and support the development, growth and integrity of Canada's legal cannabis industry.
Alongside other leading federal licensees and C3 affiliate members, Valens looks forward to contributing to a variety of initiatives geared toward shaping the growth of the legal cannabis industry and its commitment to protecting public health and safety. This includes working with all levels of government on policy development and regulatory reform related to responsible consumer education and marketing; sustainable recycling and environmental stewardship; and effective provincial distribution programs. Valens expects to participate in C3's established caucuses and committees, including those working on vape product safety standards and the taxation of cannabis vaping products. As a participant in C3's Sustainability Caucus, and in partnership with leading Canadian e-recycling provider Quantum Lifecycle Partners, Valens also expects to play a role in expanding C3's national vape recycling program, helping consumers dispose of vape hardware through cannabis retail locations across Alberta, British Columbia, and Ontario.
"C3 shares the same passion for bringing the benefits of regulated and legal cannabis to Canadians as we do, and we have long admired their efforts to create and uphold the highest standards for the industry," said Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company. "We look forward to working alongside our peers and sector leaders to influence and contribute to some of the most pressing matters facing Canada's legal cannabis industry."
C3 brings together licensed cultivators and licensed processors from across Canada and leads their advocacy and regulatory efforts in support of a trusted, sustainable, and socially responsible legal cannabis industry. C3's current efforts are focused on the legal industry's ability to create jobs, growth and progress, through the elimination of the excise tax on medical cannabis, reform of the cannabis beverage equivalency formula, and expungement of criminal records for minor cannabis convictions amongst other initiatives.
"Valens is an established cannabis industry leader whose commitment to product safety and innovation are making an important contribution to the success of Canada's legal cannabis industry," said George Smitherman, President & CEO of C3. "Their experience, expertise and industry relationships are welcome assets in support of C3's ongoing advocacy and regulatory efforts."
For more information on C3 and its advocacy efforts, please visit www.cannabis-council.ca.
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