Investor Ideas Potcasts #577, Cannabis News and Stocks on the Move; (NEO: MEDI) (OTC: KONEF), (CSE: YOOM) (TSXV: MUSH)
Delta, Kelowna, BC - June 18, 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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Investor Ideas Potcasts #577, Cannabis News and Stocks on the Move; (NEO: MEDI) (OTC: KONEF), (CSE: YOOM) (TSXV: MUSH)
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.
The Good Shroom Co Inc. (TSXV: MUSH), announced that its wholly owned subsidiary, Teonan Biomedical Inc., has received authorization from Health Canada to commence the sale and the distribution of its beverages which are Canada's first cannabis infused beverage line made with functional mushroom extracts.
Teonan holds a micro-processing license delivered by Health Canada under the Cannabis Act, which allows it to manufacture and develop topicals, extracts and edible cannabis products which includes beverages. Before sales of the Velada beverages could commence, Teonan was required to demonstrate its finished products and quality control procedures complied with Health Canada's strict guidelines. Teonan's micro-processing license was amended by Health Canada allowing it to distribute the Velada products nationwide, through various provincial retailers, including the Societe Quebecoise du Cannabis (SQDC) which is Canada's largest provincial cannabis retailer. A micro-processing license has an annual cannabis extract processing limit of 150,000,000 mg per year. With Health Canada's limit of 10 mg of THC per unit, this equals up to 15,000,000 units containing THC which can be sold yearly. The Company has strategically chosen a micro-processing license instead of a standard processing license due to the high cannabis processing limit with the reduced cost associated to maintaining this type of license.
Velada is the first mushroom-based instant wellness beverage in Canada which contains cannabinoids. The beverage mixes which come in powdered form are vegan, dairy free, GMO free, gluten free and all contain 100 mg of functional mushroom extracts and a 30 mg dose of CBD per serving. The Company will also be offering a low THC version of the beverages with a 2:1 CBD:THC ratio for optimal effectiveness, with 4.5mg of THC and 9 mg of CBD per serving in order to have an expanded and versatile offering to appeal to a wider variety of customers. Flavours available for distribution include hot chocolate, coffee and golden milk latte. The Company anticipates expanding the Velada product line with additional flavours and products following market response and emerging industry trends. This authorization to begin sales also allows the company to initiate its agreement with its sales broker Velvet Management Inc., Canada's leading cannabis sales agency, which represents the company across Canada.
"We have been eagerly awaiting this authorization and we are ready to move forward" stated Eric Ronsse, the Chief Executive Officer of TGSC. "With relatively few established beverage suppliers and high barriers to entry, we expect the quality of our product, the variety of the offering and attractive price point, will allow us to capture a share of the market and build a strong and loyal consumer base." In Canada the cannabis-infused beverage market is estimated at $529 million per year.
In connection with the receipt of the authorization, the Company will issue 1,000,000 common shares to Mr. Scott Jardin, it's Chief Financial Officer, as per the terms of a performance share agreement entered into in September 2020. Under the Agreement, Mr. Scott is entitled to receive 1,000,000 common shares upon receipt of all regulatory permits and authorizations required for the commercialization of the Velada products. Mr. Jardin can earn additional tranches of common shares (maximum of 2,000,000) when the Company reaches targeted sales for the Velada products in the next 12 months. All shares issued pursuant to the Agreement are subject to a hold period until April 15, 2022, in addition to the escrow requirements of policy 5.4 of the TSX Venture Exchange which provides for a release over 36 months starting April 26, 2021 (please see Filing Statement available at www.sedar.com for details on the agreement and escrow release schedule).
Yooma Wellness Inc. (CSE: YOOM), a Toronto-based vertically integrated global wellness platform that develops and markets a portfolio of wellness brands, today announced that it will be discontinuing its operations in China, effective immediately.
The decision comes after China's National Medical Products Administration (NMPA) added CBD to its "List of Prohibited Use Cosmetic Ingredients" on May 28th, 2021. Beijing proposed the new legislation in March, with the China National Institute for Food and Drug Control inviting comments and suggestions from industry participants on its plans to list cannabis sativa and CBD as prohibited components of cosmetics. As a result of this announcement, a number of online marketplaces, including those which Yooma has historically relied on to distribute its CBD wellness products, have restricted promotion and marketing efforts for CBD products, such as keyword and traffic generating tools, platform events and live streams.
"The government's decision to ban the use of CBD and other cannabinoids in cosmetics eliminates the progress made by Yooma in selling CBD skincare and beauty products to Chinese consumers," said Lorne Abony, Chairman of Yooma. "However, we do not anticipate this change will lead to any revenue shortfall for Yooma this year, as the company is experiencing significant growth in other markets which has exceeded our expectations, and we expect any longer-term impact on Yooma's business to be minimal as we focus more of our attention on these other promising markets."
Yooma also announced today that CEO Ron Wardle will be leaving the company. Jordan Greenberg, who has been serving as President and CFO of the company, has been appointed by the board as the new CEO, effective immediately. Joshua Lebovic has been appointed by the board as interim CFO.
KetamineOne Capital Limited (NEO: MEDI) (OTC: KONEF), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments and associated research, provided guidance on several new strategic initiatives on behalf of its wholly-owned contract research organization, KGK Science Inc. KGK is rapidly being integrated into Ketamine One's mental health platform, accelerating the ability to foster value creation through the Company's clinic portfolio, grow its work with existing third-party clients and establish a leadership position in psychedelic research and clinical trial work. Being at the forefront of psychedelics research strongly positions Ketamine One and KGK to generate defendable intellectual property and secure first mover advantages. Further, the Company is pleased to report that KGK has recently been awarded a new clinical trial contract, a research project and has also completed two studies.
Psychedelic Research Highlights:
- Working with five unique clients in psychedelic drug studies including but not limited to Numinus (TSXV: NUMI) and Psyched Wellness (CSE: PSYC).
- Conducting two ongoing clinical trials, one of which is the previously announced preliminary study of Numinus' proprietary psilocybin mushroom extract in healthy adults.
- Developing a network of vertically-integrated clinics within Ketamine One for the conduct of psychedelic clinical trials. This will be a critical step in it achieving its goal of becoming the premier CRO in the psychedelic medicine industry and integrating with Ketamine One's clinical assets.
- Collaborating with Zentrela, the maker of the Cognalyzer™, to adapt the device for use in psychedelic medicine with the goal of providing the sector with a revolutionary tool to be used in human research and the clinical application of psychedelic drugs.
- Improving virtual trial conduct through the implementation of a novel platform and technology with the other subsidiaries of Ketamine One, which is expected to be launched over the next year.
- Working with the Ontario-based contract manufacturer Acenzia to provide a joint solution for the production and study of psychedelic compounds and final products. Acenzia plans to produce psychedelic mushrooms as well as formulate and manufacture psychedelic products at their EU GMP-accredited facility.
New Proposals, Recent Wins and Completed Work:
- Emerging from COVID-related restrictions, KGK is seeing significant growth in new projects and requests for proposals, including a substantial expansion in psychedelics-related work. Requests for proposals and other quotes have increased by almost 60 per cent over the past 12 months as compared to the same prior period.
- Recently awarded a clinical testing trial for two novel human milk oligosaccharides produced by a large Japanese firm.
- Contracted to facilitate preclinical studies of a novel vitamin ingredient, the results of which are planned to be used to support the submission of a New Dietary Ingredient Notification to the US FDA.
- Anticipated to complete a clinical trial investigating the efficacy of a multi-ingredient formulation on self-reported memory complaints in healthy adults in the fall of 2021. KGK has extensive experience in conducting clinical trials in the areas of cognition and stress and plans on pursuing more work in this growing area of research.
- Year to date, completed two pharmacokinetic clinical studies for nutraceutical products.
"KGK was ahead of its time when it started in the Natural Health Products industry over 24 years ago by working with clients to provide evidence of safety and efficacy in an industry that heavily relied upon testimonials. It was the first to offer these services on a one-stop-shop basis, which speaks to innovative roots of KGK," said Najla Guthrie, President & CEO of KGK. "Five years ago, we successfully extended our clinical work into the cannabis space, becoming one of the first experts in the cannabis research field. And since 2020, our business has broadened its focus yet again to include psychedelic research and working with companies to develop their pathways to market, regulatory strategies and pre-clinical safety work. As a result of Ketamine One's existing clinical platform and KGK's complementary research capabilities, we are well positioned to capitalize on the inflow of capital and talent to psychedelics-focused companies," added Ms. Guthrie.
Lastly, in recent news Cannabis retailers in British Columbia can start delivering recreational cannabis products to their customers beginning next month.
The B.C. government announced yesterday that all licensed non-medical cannabis sellers will be permitted to deliver their products starting July 15.
The Ministry of Public Safety and Solicitor General says it's another reason for cannabis consumers to "go legal" when buying cannabis in B.C.
"Since the federal legalization of non-medical cannabis, we've been working to support a strong and diverse cannabis industry, shrink the illicit market and keep products out of the hands of children and youth," said Mike Farnworth, Minister of Public Safety and Solicitor General, in a statement Thursday.
"Allowing direct delivery to consumers isn't just an advantage retailers have told us is vital to the viability of their sector, it's also a way we can further our public safety goals," Farnworth added.
The announcement follows the government's decision last August to allow cannabis retailers to sell their products online.
Only adults will be allowed to receive cannabis delivery orders, and anyone who appears to be under 19 years old will have to present two pieces of identification, the province says.
The customer will not have to be a resident at the address or the person who placed the order. However, they will have to provide their name and signature to take delivery.
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