Investor Ideas Potcasts #592, Cannabis News and Stocks on the Move; (TSX: FAF) (TSX: WEED) (NASDAQ: CGC) (CSE: DELC) (OTCQB: DELCF) and (OTC: KONEF)
Delta, Kelowna, BC - August 4, 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 #592, Cannabis News and Stocks on the Move; (TSX: FAF,) (TSX: WEED) (NASDAQ: CGC) (CSE: DELC) (OTCQB: DELCF) and (OTC: KONEF)
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.
Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF) and its wholly-owned subsidiary Hifyre™ Inc., today announced the acquisition of certain assets from subsidiaries of Wikileaf Technologies Inc. (CSE: WIKI), an online platform for cannabis enthusiasts and consumers, as part of its innovative new digital strategy focused on enhancing the Company's proprietary data-driven retail platform.
Wikileaf, which generates significant user traffic through engaging content and domain name strength, will be boosted through the incorporation of Hifyre's unique data-driven technology solutions into its existing platform. Hifyre will transform the Wikileaf website into a virtual online dispensary for cannabis and accessory products utilizing the same e-commerce proprietary technology platform that powers the Fire & Flower retail network. Accessory products will be fulfilled through Fire & Flower's agreement with Humble & Fume (CSE: HBML) announced last month.
A key aspect of the new digital strategy, Hifyre will create white-labelled online dispensaries fulfilled initially by the Fire & Flower retail network, that can be expanded to other cannabis dispensaries and delivery channels both in Canada and the U.S. In addition, users of all white-labelled websites will be enrolled into Fire & Flower's proprietary Spark Perks membership loyalty program, expanding upon its ability to capture a high level of engagement and understanding of cannabis consumer preferences and habits both in Canada and the U.S.
"Hifyre's expanded digital strategy offers a significant opportunity to expand the Company's e-commerce revenue channels through an asset-light and highly scalable model both in Canada and the U.S.," shared Trevor Fencott, Chief Executive Officer of Fire & Flower. "The branded online dispensary model is accretive to our retail channel as it offers the opportunity to capture new customers and drive an additional stream of high margin revenue through our Hifyre platform."
"We believe owning the customer relationship is the most prized part of the value chain and this has been successfully achieved through membership in our Spark Perks program," shared Matthew Hollingshead, Chief Innovation Officer of Fire & Flower and President of Hifyre. "Our ability to white-label our e-commerce platform offers the opportunity for any brand to create a virtual online cannabis dispensary through our proprietary technology."
In a recent article from MJBIZDaily, Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) executives received more than 4 million CAD ($3.2 million USD) in cash bonuses after making "solid progress in the year," according to a regulatory filing, even as the company lost CA$1.7 billion and laid off hundreds of workers.
The Smiths Falls, Ontario-based company disclosed the executive compensation figures for fiscal year 2021 in a proxy statement sent ahead of its annual general meeting, scheduled for Sept. 14 via webcast.
The executives' compensation packages consist of salary as well as bonuses awarded as part of the company's short- and long-term incentive plans.
For fiscal 2021, which ended March 31, the board approved short-term incentive plan bonuses totaling CA$4 million for five of the company's top executives.
The company's long-term incentive-plan (LTI) bonuses, typically granted annually in March, were awarded June 9, 2021.
The LTI bonuses were not reported in the total compensation table because they were issued after the fiscal year ended.
"On a go forward basis, we have determined to fix the regular timing of our annual LTI grants to occur in June of each year, beginning in Fiscal 2022," the proxy noted.
"As such, no LTI awards were granted in Fiscal 2021, with the prior LTI grants having been made in late March 2020 at the end of Fiscal 2020."
In an emailed statement, a company spokesperson told MJBizDaily that "Canopy Growth's executive compensation supports our strategy of attracting and retaining top talent that is necessary to support the company's ambitious growth plans and is structured to ensure close alignment between the interest of shareholders and leadership."
The company uses four performance measures related to corporate objectives to help guide short-term bonus payouts where executives earn an annual cash bonus.
Free cash flow has the heaviest weighting (50%) among the performance measures, followed by net revenue (20%), adjusted EBITDA (20%) and individualized objectives (10%).
The company failed to meet its fiscal 2021 goals for net revenue and adjusted EBITDA, but the goals for free cash flow and individualized objectives were achieved.
According to the proxy, Canopy aimed for net revenue of $455 million but came in at $414 million.
Free cash flow was negative $478 million, or half the shortfall the company anticipated.
Adjusted EBITDA, which serves as a measure of profitability, came in at negative $258 million, a slightly worse performance compared with the company's objective of negative $246 million.
Canopy's short-term cash bonuses amounted to:
- CA$2.2 million for David Klein, CEO.
- CA$579,000 for Mike Lee, chief financial officer.
- CA$659,000 for Rade Kovacevic, president and chief product officer.
- CA$360,000 for Julious Grant, chief commercial officer.
- CA$351,000 for Phil Shaer, chief legal officer.
According to the proxy statement, Canopy's compensation committee "affirmed that the executive leadership team performed well in progressing the company's revised CPG strategy and reorientation towards a path of reduced financial losses and sustained success, all while acknowledging the challenging environment created by the COVID-19 pandemic."
The executives also received grants on June 9 as part of their annual LTIP.
Those ranged from 22,352 options and 11,176 share-based awards for Shaer to 139,488 options and 69,744 share-based awards for Klein.
The share-based awards were granted in the form of performance share units (PSUs).
"The number of PSUs granted represents 100% of the target number of PSUs. The minimum PSU award is equal to 50% of the target number of PSUs, and the maximum PSU award is 150% of the target number of PSUs," the filing noted.
Going forward, the filing adds, half of the executives' long-term incentive grants will consist of restricted share units and performance share units, and in fiscal 2021, "no performance conditions were imposed on share unit awards granted in March 2020 due to the difficulty in establishing reasonable performance metrics due to the impacts of the COVID-19 outbreak."
Big thanks to Matt Lamers of MJBiz Daily for producing such a great article.
Delic Holdings Inc. (CSE: DELC) (OTCQB: DELCF), the leading psychedelic wellness platform, today announced that Itefayo Harvey will serve as one of the event's mainstage speakers. Meet Delic is the world's premiere psychedelic and wellness edutainment event catering to both curious newcomers, businesses and thought leaders. Harvey is the Founder and Board President of the People of Color Psychedelic Collective, long-time advocate for promoting drug policies grounded in science, compassion, and human rights, as well as the Social Media Manager for Caring Across Generations, an organization which creates a new way to live well and age with dignity in America.
Harvey states, "I am excited to push the boundaries of how we talk and think about wellness in our society at Meet Delic. I want our society to truly value and create wellness for everyone."
During her tenure at The Drug Policy Alliance, which is the nation's leading organization advocating to end the war on drugs, Harvey fought hard for people to no longer be punished for what they put in their bodies. This created a deep desire within Harvey to further champion that individuals be given the sovereign right and choice to use alternative medicines such as psychedelics without fear and impunity.
The experiential event will feature dancers, music, 3D mapping, new technologies and research, thought-provoking presentations and the world's largest psychedelic business expo.
"It is an honor to have Itefayo Harvey speak at our conference and bring her unique perspectives on health, life and culture to our attendees," said Delic co-founder, Jackee Stang. "She is a powerful voice in the movement toward embracing psychedelic wellness and reform and her work to right many wrongs in the 'war on drugs' is remarkable."
The twenty hours of panels and keynotes will include a broad array of topics such as: "How Psychedelics Can be Effectively Used for Physical Optimization," "PTSD Reset and Recovery," "Ketamine Clinics Today, Psilocybin and MDMA Therapy Tomorrow," microdosing, activism, sexuality, and "Drug Use for Grown-Ups." Musical and entertainment acts are scheduled both evenings following the panels and expo.
KetamineOne Capital Limited (NEO: MEDI) (OTC: KONEF), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, announced that it has signed an exclusive agreement for the use of virtual reality ("VR") technology in psychedelic treatments with OVR Tech LLC ("OVR Technology") to provide its INHALE Wellness Platform over an initial term of two years in Ketamine One's clinics. The INHALE Wellness Platform is an olfactory-enabled VR platform designed to deepen immersion, promote relaxation and help manage stress.
Pursuant to the terms and conditions of the exclusive agreement, OVR Technology will provide its proprietary technology and services for Ketamine One to use with its psychedelic-assisted treatments involving ketamine, psilocybin, DMT and MDMA in order to help improve patient outcomes. OVR Technology's INHALE Wellness Platform combines the benefits of mindfulness, breathwork and meditation with the next generation of aromatherapy. It includes a head-mounted display, the ION device (the "ION") and scent cartridges, as well as several scent-focused nature scenes. The ION is lightweight, wireless and emits scent particles in coordination with VR technology designed to deepen a patient's immersive experience.
OVR Technology's Architecture of Scent® platform brings together software, Scentware™, and hardware via the ION, while also including replaceable cartridges and an Olfactory Experience Engine that allows scent to be triggered during a VR experience. Scents delivered through the ION are water-based and made from a combination of natural and synthetic ingredients that have undergone extensive testing. While VR technology is widely known to incorporate sight and sound, this partnership provides Ketamine One with the capability to generate more realistic Immersive Virtual Reality ("IVR") service offerings via scent at its network of clinics, which is expected to enhance experiences and help improve patient treatment outcomes.
The concept for the Architecture of Scent® and ION device was based on the idea that scent in VR could dramatically increase immersion. Computer simulations in which patients can interact within virtual three-dimensional environments can help put patients in calming settings and improve relaxation through the addition of scents. Research has shown that scents elicit emotional and evocative associations and can immediately alter mood.1 Other research shows that, as soon as an odor is registered by the brain, it activates the amygdala-hippocampal complex in the limbic system where emotions, memories, and associations are processed, nearly instantaneously.2
"We believe that the ION device contains the most accurate on-mask scent technology currently available on the market. The ability for our clinicians to alter perceptual experiences with VR and the ION is extremely promising. Optimizing the therapeutic setting is one of the main goals of our VR-based research and development program and being able to utilize the sense of smell to help patients relax, reduce tension and lower stress is expected to result in the development of a comprehensive treatment," said Dr. Quang Henderson, Chair of Ketamine One's Clinic Innovation Council.
"Our access to a large patient population and enhanced research capabilities through our wholly-owned contract research organization, KGK Science, along with OVR Technology's innovative platform, on a combined basis have the potential to lead to clinically validated solutions for use not only in our facilities, but also in patients' homes, through the development of a portable digital therapeutic offering in the future," added Adam Deffett, Interim CEO of Ketamine One.
"This is the first VR platform that understands user behavior in the virtual world and responds with real-time sensory stimulation. It has the potential to significantly enhance the wellness capabilities of an already promising technology," said Aaron Wisniewski, CEO and co-founder of OVR Technology.
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