Investor Ideas
‘Potcast’; #Cannabis News and Stocks on the Move; Cannabis
Wheaton (TSX V:
$CBW.V), ICC Labs (TSXV: $ICC.V), WeedMD
(TSXV: $WMD.V), MYM Nutraceuticals (CSE: $MYM.C)
Pt. Roberts, WA; Delta, BC –May 31, 2018
(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 edition of
its new series, Investorideas.com potcasts - cannabis news and stocks to watch plus
insight from thought leaders and experts.
Listen to the podcast:
Read this in full at http://www.investorideas.com/news/2018/cannabis/05311Potcast-TSXVCBWICCWMDCSEMYM.asp
Today’s podcast overview/transcript:
Good afternoon and welcome to another Investorideas.com potcast –
looking at cannabis news, stocks to watch as well as insights from thought leaders
and experts. Today we are looking at announcements from Cannabis Wheaton Income Corp. (TSX
V: CBW), ICC Labs
Inc. (TSXV:
ICC), WeedMD Inc. (TSXV:
WMD and OTC:
WDDMF), MYM
Nutraceuticals Inc
Cannabis
Wheaton Income Corp. announced the closing of its previously announced bought
deal public offering of 82,225,000 units of the Company at a price of C$1.40
per Unit for gross proceeds of $115,115,000. The syndicate of
underwriters for the Offering was led by BMO Capital Markets, together with
AltaCorp Capital Inc., Mackie Research Capital Corporation and INFOR Financial
Inc.
The Company
plans to use the net proceeds from the Offering for capital expenditures
relating to domestic and international operations and capacity expansion, for
potential new investment opportunities and for general working capital
purposes.
ICC Labs Inc
announced that it has filed its interim financial results for the first quarter
of this year.
The
financial statements are available on the System for Electronic Document
Analysis and Retrieval ("SEDAR") at www.sedar.com and on ICC Labs' website at www.icclabs.com.
During the
first quarter of 2018, the Company continued to take steps to expand its
footprint in the Latin American market, and to gain access to the European and
Canadian markets. The Company’s investment in Global Group Kalapa S.L., a
Spanish company based in Barcelona, is part of ICC Labs’ strategy to gain a
foothold in the European markets, and in particular with respect to B2B
distribution channels for the Company’s ‘BIDIOL’ branded CBD oil and other
products it intends to sell. This investment remains subject to TSX Venture Exchange
approval.
Having
obtained all medicinal cannabis production licenses currently available in
Colombia, ICC Labs became the first company to become fully licensed in two low
cost jurisdictions in Latin America. Further, in Colombia, the Company continues
to build its 124,000 sq. ft. greenhouse to grow THC plants and prepares for its
first outdoor hemp crop on 250 acres that it expects to commence sowing in
June, also subject to approval of the TSX Venture.
The Company
has also proceeded with the construction of its CO2 extraction
laboratory in Uruguay which has an expected annual capacity of 150,000 kg of
dry flowers and is being built in accordance with international Good
Manufacturing Practices (GMP) guidelines. The Company expects the laboratory to
be completed by the end July. In the interim, the Company has completed the
construction of a temporary extraction laboratory in Uruguay where its first
CBD extracts will be produced.
WeedMD Inc. who is a
federally-licensed producer and distributor of medical cannabis, has reported
its financial and operating results for the first quarter of this year.
The company
reported revenues of $1.14 million with sales up 33%. The revenues consisted of the sale of dried
medical cannabis, live cannabis plants and cannabis oils, to both patients and
through wholesale B2B channels. The Company also maintained a strong cash
balance of $48 million as of the end of the quarter.
Other highlights for the quarter included closing the previously
announced, oversubscribed $34.5 million bought deal equity financing and
commencing the sale of cannabis oil products under the company’s Entourage™ and Axis™ brands. The company also
appointed Kevin McGovern, chairman of McGovern Capital and founder of the
beverage company SoBe, as a board director, as well as Dr. Jonas Vanderzwan, a
physician with more than 15 years of primary care experience, as Medical
Director and Chair of the Clinical Advisory Board.
The rest of the company’s financial and operational results can be found
on SEDAR.
Next MYM Nutraceuticals Inc., announced the hiring of Joel Lalancette as
Master Grower at the company's 1.5 million square foot medicinal cannabis
greenhouse facility, currently under construction in Weedon, Quebec.
Mr. Lalancette brings with him thirteen years of experience in the
greenhouse industry. He is an integrated operator who has been a leader in
establishing numerous greenhouse businesses. His most recent experience saw him
establish himself as one of Quebec's largest producers of microgreens.
Finally,
WelCan Capital a cannabis-focused venture capital firm, announced the launch of
the first impact investment fund focused on bolstering the cannabis industry
and addressing the challenges and injustices stemming from cannabis
prohibition. Leveraging a ‘people + purpose + profits’ philosophy, the new fund
will invest in four core verticals across plant-touching and ancillary
businesses in the cannabis sector: Business Services, Emerging Technology,
Software and Licensed Operations.
“The lack of
institutional capital in the space creates a compelling opportunity for
investors,” said Vikas Desai, partner at WelCan Capital. “Our focus is to drive
performance, while also playing a vital role in shaping the future of key
issues today: sustainability, medicinal research, criminal justice reform and
our nation’s opioids crisis.
Investor ideas remind all listeners to read
our disclaimers and disclosures on the Investorideas.com website and this
podcast is not an endorsement to buy products or services or securities.
Investors are reminded all investment involves risk and possible loss of
investment
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