Investor Ideas Potcasts #629, Cannabis News and Stocks on the Move (CSE: AUSA), (TSXV : MUSH) (TSX: WEED) (NASDAQ: CGC)
Delta, Kelowna, BC - April 1, 2022 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site 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 #629, Cannabis News and Stocks on the Move (CSE: AUSA) (TSXV: MUSH) (TSX: WEED) (NASDAQ: CGC)
Today's podcast overview/transcript:
In today's podcast we look at a few private and public company announcements.
AUDACIOUS (Astralis Capital Inc.) (CSE:AUSA) and Thai-based partner Golden Triangle Health have partnered to open the first Herbidus Medical Center in Bangkok, which is also the first medical cannabis clinic in Southeast Asia supported by a U.S. Multi-State Operator (MSO).
Herbidus is among the first clinics in Asia that can prescribe cannabis for medical treatments in compliance with the law. It uses medicine approved by the Government Pharmaceutical Organization and is staffed by doctors that follow global standards for use of cannabis in patient treatment.
"Interest in medical cannabis is expanding rapidly in Thailand," said Terry Booth, Chief Executive Officer at AUDACIOUS. "With the opening of the Herbidus Medical Center, we are looking forward to bringing AUDACIOUS' cannabis expertise and seasoned corporate leadership to the Thai cannabis market. This is one of several initiatives that we are embarking on with Golden Triangle Health, which along with its parent company enjoys robust distribution channels across Thailand, as well as nimble and powerful white label capabilities for cannabis product manufacturing."
Mr. Booth continued, "GTH will also receive support from our Chief Science Officer, Dr. Jason Dyck, and will be able to utilize his knowledge and experience. This provides Herbidus with access to one of the global leaders in medical cannabis science, resulting in Herbidus patients receiving the highest standards of care in the industry. This will leverage the years of research we have performed in Canada and other countries, including Dr. Dyck's studies on one of the world's largest databases of medical cannabis users to identify the primary reasons for medical cannabis authorization and the health outcomes of these patients."
As Thailand begins to more aggressively expand opportunities for legal cannabis businesses, AUDACIOUS and Golden Triangle Health are poised to serve the nation of 70 million people with cannabis services and products grounded in years of successful and professional cannabis pursuits in North America.
Itself a spin off from Thai public company NR Instant Produce PCL with market cap close to $400M, GTH is well positioned to grow rapidly in the nascent Thai market. Following a soft launch, Herbidus has already seen close to 800 patients, showing the pent-up demand in Thailand for medical cannabis related services. Dr. Jason Dyck, CSO at AUDACIOUS, commented, "Leveraging the knowledge gained from years of studying one of the world's largest databases of medical cannabis users, we have made significant advances in understanding the medical conditions that patients are seeking cannabis treatment for as well as studying the health outcomes of these patients. The results of these studies will now become an integral part of the knowledge base of the practitioners at our Herbidus clinics to help our patients."
Golden Triangle co-founder Tom Kruesopon said, "Golden Triangle Health already has strong brand equity in Thailand and across Asia. Our partnership with AUDACIOUS to open Herbidus helps propel us even further," "We believe that together, we can be one of the most important players in the Asian cannabis market, following our joint launch in the Asian CBD market earlier this year."
Added AUDACIOUS Chief Operating Officer Duke Fu: "We believe the nascent cannabis market in Asia offers thrilling new and massive addressable market for AUDACIOUS. Given Golden Triangle Health's extensive and positive track record with distribution, cannabis and hemp manufacturing and healthcare in Thailand, we know this partnership is ideal for showcasing the true medical and economic benefits of cannabis."
- The Company recorded $363,229 in sales revenue. 8.5 X growth from Q1.
- The majority of this revenue was derived from the launch of its hash in Quebec and the rest from its functional mushroom beverages.
- Gross profit margins were of $129,826 compared to $2,526 in Q1.
- Operating loss was of $241,148 compared to $371,865 in Q1.
MUSH, through its licensed subsidiary Teonan Biomedical Inc. (the "Subsidiary"), operates 2 cannabis brands; Nordique Royale™ and Velada™.
- Nordique Royale™ launched during Q2 while Velada launched in Q3 in both Quebec and Ontario.
- In Quebec, according to https://quebec.weedcrawler.ca/best_sellers, 5/10 best selling infusions are Velada™ products.
MUSH also operates Teonan™ functional beverages sold across north America.
- Teonan™ was accepted into the distribution networks of the two largest distributors in the USA, United Natural Foods and Kehe.
- The Company will be submitting its products to a variety of key retailers during the course of 2022, including Wholefoods, Albertsons Safeway, Wegmans along with a large number of regional players across the USA.
- Its products are now for sale in all Central Market locations in the USA.
The Company's CEO Eric Ronsse stated "We are pleased with the results of this quarter where we launched a new cannabis brand which continues to grow. We've analysed the sales data of our top performing products, identified key product attributes and have applied them to a variety of new hash based products which will be submitted for approval in Quebec and Ontario."
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and cannabis device company, announced the appointment of Judy Hong and Jonathan Di Tosto to its Executive Management Team, along with the creation of four new strategic roles within its Senior Leadership Team.
Effective immediately, Judy Hong has been appointed as the Company's Chief Financial Officer. With a proven financial and capital markets background built through more than 20 years of experience at Goldman Sachs & Co., Judy joined Canopy in 2019 as the Vice President of Investor Relations. Since arriving, Judy's deep knowledge of the consumer-packaged goods sector has helped shape Canopy's engagement with the financial community, as well as the Company's overall commercial strategy.
The Company is also pleased to welcome Jonathan Di Tosto to the Executive Management Team as the Company's new Chief Operations Officer (COO). Jonathan assumes the role of COO from Andrew MacCorquodale, who is building upon his five years of dedication to Canopy by transitioning into a strategic advisory role. Jonathan joined Canopy in May 2021 as Vice President, Supply Chain, where he has focused on optimizing Canopy's global supply chain organization. Prior to Canopy, Jonathan spent 16 years with George Weston Limited, most recently as VP, Planning & Logistics, where he was accountable for the end-to-end supply chain strategy, process, and execution throughout Canada and the U.S.
"As Canopy evolves, so does our leadership team and I'm pleased to welcome both Judy and Jonathan who have demonstrated their capabilities as leaders to drive our business forward," said David Klein, CEO, Canopy. "As we enter our new fiscal year and continue our focus on accelerating growth and advancing on our path to profitability, I feel strongly that we have the right team and strategy to realize our important ambitions for the benefit of our customers, team members, and shareholders.''
The new executive leaders join the Company at a pivotal time, as Canopy enters Fiscal Year '23 on Friday, April 1st with a focus on continued discipline and execution against its strategic priorities, including further expanding Canopy's premium flower portfolio and growing overall premium share in Canada, scaling the Company's high-impact global brands like BioSteel and Storz and Bickel, and continuing to develop Canopy's U.S. THC ecosystem pre- and post-permissibility.
To support the continued advancement of Canopy's U.S. strategy, the Company has created four new strategic roles within the Senior Leadership Team. These roles will be led by seasoned executives who previously held leadership roles at Constellation Brands and bring with them a breadth of experience, perspective, and capabilities to help Canopy achieve its business goals in the U.S. cannabis market in four focused areas: commercial sales, marketing, operations, and strategic alliances.
"These roles were developed to leverage Constellation's well-established understanding of the U.S. market, established commercial relationships, and extensive operational capabilities," said Klein. "Accessing Constellation's world-class in-market expertise will allow Canopy to strengthen our competitive positioning as we continue to build a foundation for long-term success in the U.S. market."
MAPS Public Benefit Corporation (MAPS PBC) announced that Michael Mullette, an experienced drug development and commercialization expert, has joined its senior leadership team as Chief Operating Officer. Mullette most recently served as the Vice President and Managing Director of North America for Moderna, where he oversaw commercialization of the company's COVID-19 vaccine during the height of the pandemic.
Mike is a highly talented, effective, and mission-driven leader who has repeatedly built teams and organizations that succeed in the face of big and novel challenges, most recently in his work at Moderna. He brings to MAPS PBC a wealth of experience in drug development, expertise in drug commercialization, and a global perspective. With Mike, MAPS PBC is taking another major step in building a world-class pharmaceutical organization capable of meeting the enormous need for novel treatments for PTSD and other mental health conditions. I'm thrilled to expand our team with another experienced partner who shares our values.
Amy Emerson, CEO, MAPS PBC
Mullette joins MAPS PBC after more than 20 years in the pharmaceutical industry. Prior to his work at Moderna, Mullette developed broad pharmaceutical expertise with Sanofi in a variety of management roles in the U.S., Australia, France, Japan, and Canada. He holds a B.S. in Marketing from Villanova University, and an M.B.A. from Lehigh University.
I am extremely excited to join MAPS PBC as COO at a critical time of growth for the organization. Millions of people living with PTSD today need more effective treatment options, and MAPS PBC is breaking ground with their innovative approach. I look forward to working with the team to bring MDMA-assisted therapy and other potential FDA-approved treatments in our pipeline to help those in need.
Michael Mullette, COO, MAPS PBC
Mullette's primary responsibilities will include:
- Developing the organization's long-term vision and strategy alongside the CEO and Board.
- Ensuring the company operates effectively and efficiently across all domains.
- Achieving a successful first-in-class commercial launch in the United States.
- Helping to ensure a high-performing portfolio and psychedelic medicine pipeline.
- Developing and executing a strategy for global expansion and global commercialization of MDMA-assisted therapy.
The Multidisciplinary Association for Psychedelic Studies and its wholly-owned subsidiary MAPS PBC have further invested in team members to build the organization and company:
- Fede Menapace has been named MAPS' Chief Strategy Officer. For the past two years, Fede has served as MAPS' Director of Strategy, focusing on organizational growth, financing strategy, and pharma business development. As CSO, the scope of his role will grow to include the development of additional revenue-generating initiatives and MAPS' global humanitarian efforts to bring psychedelic healing to the countries and populations most in need.
- Steven Huang has joined MAPS as Justice, Equity, Diversity and Inclusion Officer (JEDI), reporting to the Deputy Director. Steven will guide the JEDI Council, a cross-functional team of employees across MAPS and MAPS PBC that guides internal policies and the Health Equity initiative.
- Debra (Deb) De Angelo, Ph.D., has joined MAPS PBC as Head of Medical Affairs. Deb was most recently Senior Director of Medical Affairs at Kaléo and formerly Head of Medical Strategy at Indivior. She will lead the company's engagement with the medical community through publications, conferences, real-world evidence generation and other means.
- Dawn Lundin, M.S., has joined MAPS PBC as Head of Global Quality Management Systems. Most recently Director of Compliance at the University of Pennsylvania's Perelman School of Medicine, Dawn previously held senior Quality Assurance roles over the course of two decades at Merck. Dawn remains a faculty member at Penn directing the QA course of study for the ITMAT Masters program. She will oversee the quality systems in support of clinical development activities, ensuring MAPS PBC continues to follow best practice standards
- Theresa Gorenc, M.P.H., has joined MAPS PBC as Head of Market Access. Theresa most recently led market access analytics teams at AbbVie, where she contributed to the success of over 30 different medicines. Theresa is responsible for securing coverage and reimbursement for MAPS PBC's therapeutics and ensuring accessibility for patients.
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