Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 495 (TSX: $TGOD.TO) (OTC: $TGODF) (OTCQB: $AMMJ) (TSX: $FIRE.TO) (CSE: $RVV.C)
Delta, Kelowna, BC, November 12, 2020 (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:
https://www.investorideas.com/Audio/Podcasts/2020/111220-StocksToWatch.mp3
Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/11121TGOD-AMMJ-FIRE-RVV.asp
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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 will be looking at a few public announcements.
American Cannabis Company, Inc. (OTCQB: AMMJ), a full-service business-to-business cannabis and hemp consulting solutions provider, announced its approval for an Operator’s License by Colorado’s Marijuana Enforcement Division (MED).
On November 10, 2020, Colorado’s Marijuana Enforcement Division (MED), approved the Company’s application for an Operator’s License, allowing it to now manage and operate both recreational and medical cannabis operations throughout Colorado. This recent approval is key in the Company’s plan to effectively roll out its management services to operators who seek to improve their overall business efficiencies. In addition to this approval for an Operator’s License, the Company recently received MED approval for a Suitability License, establishing the Denver-based company as one of the few publicly traded companies authorized to acquire and operate various cannabis licenses throughout Colorado.
Terry Buffalo, Chief Executive Officer of American Cannabis Company, commented, “We are happy to now have the ability to deploy our operational management platform across the Colorado market as we seek to continually expand our service offerings. We provide our suite of management services to those who may need guidance in various areas of business related to cultivation, retail or extraction operations. In having secured both suitability and operators licenses within Colorado, we now have a multi-pronged approach in advancing our brand forward in this market. As we effectively work to implement our growth strategies, we will actively deploy our management platform while continuing to pivot our business model and advance brand expansion efforts by looking at multiple operational acquisition opportunities.”
The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) announced that the Company has entered into a supply agreement with Medical Cannabis by Shoppers Inc., a subsidiary of Shoppers Drug Mart Inc.
Under the terms of the supply agreement with Medical Cannabis by Shoppers Inc., the Company will offer Truverra-branded medical cannabis products through the Medical Cannabis by Shoppers™ online sales platform accessible to patients across Canada.
"This is an important development that establishes Truverra as a valuable medical cannabis brand and provides further diversification of our revenue," said Beena Goldenberg, President and CEO of Supreme Cannabis. "We are particularly pleased to introduce Truverra to Canadian patients, who will be able to order dried flower, pre-rolls and full-spectrum CBD oil. Included in our offering will be our Jean Guy strain, which is a tribute to the legendary variety offered by the Montreal Compassion Club. Also, through the Shoppers portal, patients can be assured of expert customer service from a trusted brand."
The Medical Cannabis by Shoppers online platform is a convenient and trusted source of quality medical cannabis, providing patients with single-source access to a broad range of products. Through their national online platform, the Medical Cannabis by Shoppers business connects patients with cannabis products that meet the highest quality and safety standards and provides guidance and support via a dedicated team of cannabis-trained advisors and Pharmacists.
Revive Therapeutics Ltd. (CSE: RVV) (OTC: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, provided an update on its oral thin-film delivery system with psilocybin being developed under a research partnership agreement with Reed Research Group out of the University of Wisconsin-Madison.
Following several months of prototyping on a wide range of dosage forms, the Company has completed an oral thin-film strip product with psilocybin with dosage forms ranging between 1 mg and 20 mg and demonstrating its versatility through physio-chemical characterization (e.g. tensile strength of films) of bio comparable tannin-chitosan composite materials, dissolution and disintegration testing, and rate of psilocybin release from composites. Currently technical and scientific data is being processed and finalized.
“We are very pleased to have achieved this development milestone of our orally dissolvable thin film strip for psilocybin, which can be used in FDA human clinical studies and as a unique product for medical use in states where psilocybin therapy use is permitted, such as Oregon following the passage of Measure 109,” said Michael Frank, CEO of Revive. “There is a significant market opportunity for our unique oral thin film strip technology for not only delivering psilocybin but also delivering numerous psychedelic-based medicines to treat various diseases and disorders that would benefit from such a delivery method. Also, we are in a position to begin partnering with life sciences companies seeking to add unique offerings in their psychedelic-based product pipeline and with companies operating in the U.S. where psilocybin therapy use is legal.”
Under its sponsored research partnership with the Reed Research Group out of the University of Wisconsin-Madison, the Company is developing its tannin-chitosan composite of orally dissolvable thin films which offers a unique delivery platform for therapeutic doses (1-20mg) of psilocybin into the oral cavity. The Company has finalized the prototypes and is preparing to scale for manufacturing for future clinical studies involving psilocybin and other psychedelic-derived medicines.
There are a number of advantages and benefits of an orally dissolvable psilocybin thin film such as the rapid dissolving and onset of action to the bloodstream, the ease and convenience for patients to administer without the need of water, chewing or swallowing, the potential of improved therapeutic outcomes and efficacy for underserved diseases and disorders including the flexibility to create accurate dosing and tasteful options.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF), announced its financial results for the third quarter of 2020 ended September 30, 2020, and leadership changes. These filings are available for review on the Company's SEDAR profile at www.sedar.com.
The Company also announced that Brian Athaide has left his positions as Chief Executive Officer ("CEO") and board director effective immediately. TGOD Chief Financial Officer, Sean Bovingdon, has been appointed Interim CEO. In addition, Michel Gagné, Vice President of Operations, has been appointed Chief Operating Officer ("COO"), overseeing the Company's cultivation and processing operations, supply chain and product development. In his new role as COO, he will work closely with the CEO on the Company's overall strategy and execution.
The board of directors decided that a change in leadership was necessary to drive the Company forward as it enters its next phase of growth and continues to work towards achieving positive EBITDA and cash flow as rapidly as possible. Under the Company's new leadership, TGOD will operate with a renewed commitment to executional excellence and cost discipline as the Company drives revenue growth and operational stability.
"On behalf of the board of directors, we thank Brian Athaide for his contribution to TGOD and I am pleased that Sean has agreed to lead the Company at this critical juncture," commented Jeff Scott, Chairman of the board. "He recognizes the challenges we must confront, and I look forward to working with him and the rest of the TGOD team to pave a new way forward for the Company," added Mr. Scott.
"During the third quarter, despite certain production challenges that have now been addressed, we continued to deliver growth following the launch of our mainstream brand, Highly Dutch, in Quebec as well as teas and RIPPLE dissolvable powders. Our focus will continue to be on improving the execution of our existing production while developing innovative and distinctive products to introduce into more stores across the country," commented Sean Bovingdon, Interim CEO of TGOD. "We saw encouraging numbers in October as we sold more flower, additional RIPPLE and tea variants, and launched hash in Quebec. We are looking to build on this growth while focusing on financial discipline throughout the Company," added Mr. Bovingdon.
Some of the financial highlights included:
● Total revenue of $5.71 million, an increase of 119% over Q3-2019
● Canadian cannabis revenue of $3.84 million, an increase of 41% quarter over quarter
● Loss from operations reduced by 68% to $6.34 million compared to Q3-2019
● G&A expenses continue to decrease, down to $5 million for the quarter
● Company records non-cash impairment charge of $67.84 million
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