Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move: (CSE: $TRUL.C) (TSX: $TRST.TO) (CSE: $PLTH.C) (CSE: $HITI.C)
Delta, Kelowna, BC –September 6, 2019 (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 Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
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Read this in full at https://www.investorideas.com/news/2019/cannabis-potcasts/09061TRU-TRST-PLTH-HITI.asp
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 early announcements.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), announced that in response to the catastrophic damage left behind by Hurricane Dorian in the Bahamas and the southeastern US seaboard, the company has launched a statewide relief effort to help the affected areas as they recover from the storm's wake.
Through its established statewide distribution system, Trulieve will be accepting donations of necessary and critical supplies at each of their 31 Florida locations. Requested items include, but are not limited to: water, non-perishable foods, first aid items, batteries, baby food and formula, diapers, cleaning supplies, toiletries, pet food, and more. These items will be distributed directly to those in need in partnership with third-party relief organizations.
"After experiencing Michael and seeing the devastation left behind in our own state last year, we understand all too well the need that people affected by Dorian are facing. Our communities were eager to step up last year to help us rebuild and we are fortunate to be able to help organize a collection drive to help efforts again this year," said Trulieve CEO Kim Rivers. "Our statewide distribution system is in place and will be collecting supplies from each store, which will be delivered to the communities in need through local relief organizations. We aim to help as many people affected by Hurricane Dorian as possible."
CannTrust Holdings Inc. (TSX: TRST) (NYSE: CTST) announced that both the Special Committee of its Board and its new executive leadership team continue to make progress on bringing CannTrust's operations and procedures into full regulatory compliance and ensuring the Company's future. As part of these efforts, the Company is reducing its workforce.
"We have made the extremely difficult decision to restructure our workforce to reflect the current requirements of our business," said Mr. Robert Marcovitch, CannTrust's interim Chief Executive Officer. "These changes also position the Company to better serve our patients and customers with high quality, innovative products in the future."
CannTrust reduced its workforce by approximately 180 people, or 20%. This action is expected to result in annual cash savings of about $9 million, as well as the Company recording approximately $2 million in severance costs. The majority of the affected employees were in cultivation and customer service support roles.
"Over the past two months, we have moved swiftly to assess and address the Health Canada report indicating areas of non-compliance in our operations, as well as the findings of the Special Committee's independent investigation," continued Mr. Marcovitch. "We remain fully committed to building the organization we need for future success and rebuilding the trust of all of our stakeholders."
"CannTrust is committed to acting decisively on the findings from the Special Committee's investigation and on executing its Remediation Plan in a timely manner," concluded Mr. Marcovitch. "Furthermore, we are currently developing a comprehensive go-forward business strategy. I look forward to sharing our vision for CannTrust's successful future over the weeks and months to come."
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) announced that the Cannabition Cannabis Museum has entered into a lease with Planet 13 to be part of the Las Vegas Cannabis Entertainment Complex. Cannabition previously operated a 10,500 sq. ft. cannabis-themed immersive art museum in Las Vegas featuring more than 20 unique, cannabis inspired installations that celebrate the art, culture and history of the medical and recreational cannabis experience. For more details on Cannabition please visit https://cannabition.com. To view Cannabition's plans for the SuperStore please visit here.
"Cannabition's multi-level immersive cannabis art museum fits perfectly with the SuperStore mission to create an interactive and differentiated cannabis-based experience," said Larry Scheffler Co-CEO of Planet 13. "The SuperStore's addition of a Café, Pizzeria, event center, customer facing production facility, and now Cannabition will continue to cement the SuperStore's reputation as a one-of-a-kind shopping and entertainment destination in Las Vegas. Creating an experience that no dispensary in the world can replicate."
J.J. Walker, Founder of Cannabition added, "The SuperStore, which already hosts over 3,000 cannabis enthusiasts per day, is the perfect location to bring Cannabition to a huge new audience and to be a part of the premier cannabis destination in the world. Our interactive cannabis-themed art museum has been featured on CNN, Conan O'Brian, and CNBC and I know Planet 13 visitors will love our immersive exhibits, innovative event space and curated retail store."
The lease is for a five-year term, with an option to extend for an additional three years. As of the date of this press release, the anticipated size of the Cannabition premises is 7,000 square feet. Although the final opening date remains subject to obtaining regulatory approvals in Nevada, the parties anticipate that the facility will open in Q2 of 2020.
High Tide Inc. (CSE:HITI) (OTCQB:HITIF) announced that the Canna Cabana retail stores located in Unit #610 at 20 Crowfoot Crescent NW in Calgary and at 4806 50 Avenue in Vegreville both received their first deliveries of cannabis products from Alberta Gaming, Liquor and Cannabis ("AGLC") and has begun selling recreational cannabis for adult use.
Grand opening festivities will be held at each of the New Stores on Saturday, September 7. The Company currently has 23 branded Canna Cabana locations selling recreational cannabis products across Canada, inclusive of the New Stores.
High Tide's next Canna Cabana location is licensed and expected to be operating as a retail cannabis store by mid-September. With the opening of the first KushBar location in the coming weeks, the Company will soon have 25 branded retail cannabis locations across Canada, barring any changes to the current rate of licensing by AGLC.
"Our company continues to execute on its growth plans by adding a great location in northwest Calgary while expanding into the new market of Vegreville," said Raj Grover, President and Chief Executive Officer of High Tide. "With every new store we are solidifying Canna Cabana as Canada's favourite retail cannabis brand, which is becoming clear from our top-ranked customer reviews," added Mr. Grover.
The remaining Canna Cabana and KushBar stores needed to achieve the AGLC's maximum of 15% market share are currently under various stages of development and construction. Outside of Alberta, High Tide currently has a Canna Cabana retail cannabis store in Swift Current, Saskatchewan, along with 3 branded locations in Hamilton, Sudbury and Toronto, Ontario.
Potcast Sponsor
Today’s podcast was sponsored by CBDollars. CBDollars is the first group of its kind designed to turn everyday people into entrepreneurs of one the largest, most profitable industries that will ever happen in this country. CBDollars will teach its members how to invest in the cannabis industry through stocks, ETFs, and as Angel Investors; start a wholesale store for a brick and mortar business; start an online store as a dropshipper; private label your own products from edibles to beauty & More. Join CBDOLLARS to lean more. Follow us on Facebook
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