Investor Ideas #Potcasts 566, #Cannabis News and #Stocks on the Move; (TSXV: $HITI.V) (OTCQB: $HITID), (TSX: $VIVO.TO) (OTCQX: $VVCIF), (TSXV: $NOVC.V), (TSX: $WEED.TO) (NASDAQ: $CGC) (OTCQB: $GPFT)
Delta, Kelowna, BC, May 18, 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.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2021/051821-StocksToWatch.mp3
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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 look at a few public and private company announcements.
High Tide Inc. (TSXV: HITI) (OTCQB: HITID), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced today that it has been added to the Cannabis ETF (NYSE: THCX). Listed on New York Stock Exchange's Archipelago Exchange, the THCX tracks the Innovation Labs Cannabis Index, a portfolio of 33 stocks that are expected to benefit from the growth of the legal global marijuana, cannabinoid and hemp industries.
"High Tide's inclusion in THCX is a significant vote of confidence in the progress we have made growing and expanding our business, particularly in the United States", said Raj Grover, President and Chief Executive Officer of High Tide. "Today's news provides us with an additional tool to broaden our reach and profile among U.S. investors who are attracted to High Tide's consistent track record of delivering profitability and results for shareholders. With our pending listing on Nasdaq, we hope that more institutions and ETFs will continue to take positions in High Tide", added Mr. Grover.
VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) today released its first quarter 2021 financial and operating results.
"In the first quarter of 2021, VIVO made significant contributions to its organizational foundation with the EU-GMP certification of the Vanluven Facility and by strengthening its balance sheet with an equity offering completed in February 2021." said Rick Fitzgerald, interim-CEO of VIVO. " We also continue to enhance our Cannabis 2.0 line of products with the formulation of our new brick hash offering and our soon to be released topical offering."
The Canadian Cannabis industry continues to face strong headwinds caused by retail price compression and customer inventory rationalization.
Net revenue for Q1 2021 was $5.5 million, representing a 11% decrease quarter-over-quarter as compared to Q4 2020, driven by a one-time $0.6 million excise tax underestimate, a late Q4 2020 Australian shipment and overall Canadian market compression in the quarter.
VIVO continued to sustain top-tier prices for its medical and adult-use dry flower products, with a net average selling price (net of excise) of $6.28 per gram in Q1 2021, up 5% from Q4 2020 due to product mix.
Sales, general and administrative expenses were $4.1 million in Q1 2021, compared to $5.1 million in Q4 2020, a reduction of 20% driven by targeted cost reduction activities and one-time restructuring costs incurred in Q4 2020.
The Company's adjusted EBITDA(1) was ($2.4) million for the quarter, compared to ($4.8) million in Q4 2020, the difference primarily driven by targeted cost reduction activities and restructuring in the prior quarter.
VIVO continued to strengthen its balance sheet through its $8M capital raise. The cost reduction activities and the capital raise allowed for an increase in its cash and cash equivalents balance from $5.7M in Q4 2020 to $16.9M in Q1 2021.
Nova Cannabis Inc. (TSXV: NOVC) today released its unaudited condensed interim consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2021.
"Nova has been executing its growth strategy to bring everyday value for real cannabis consumers through the Value Buds banner," said Darren Karasiuk, CEO of Nova. "The increase of over 120% in the sales from the first 18 stores we've converted to Value Buds in the last few weeks is evidence of our strategy's effectiveness. As Alcanna experienced with their Deep Discount trial stores in 2020, we expect further increases in sales in the coming weeks and months as more consumers in those trade areas discover our value proposition and as we expand the Value Buds footprint through more conversions and new store openings."
"Nova now has 53 stores operating and a further 30 stores in development, with the majority scheduled for completion in 2021. This is exclusive of a number of other potential sites that we are evaluating, and we continue to lever Alcanna's relationship with national landlords to identify store locations that we believe represents sustainable value. We plan to build one of the largest retail cannabis footprints in Canada, but what we believe sets us apart is our strategic focus on the high-volume value-conscious consumer and our ability to offer a truly better alternative to the illicit market."
Business and Operating Highlights:
● Converted eighteen (18) stores from either the Nova Cannabis or the Deep Discount Cannabis banners to the Value Buds banner in Alberta in Q1 and to date in Q2 2021.
● Early performance from the stores converted to the Value Buds banner have already seen, on average, transaction count and sales increases of in excess of 120% compared to the period before conversion:
○ Increased sales under the Value Buds banner were realized at a gross margin as a percentage of sales of approximately 19% compared to approximately 32% in the period before conversion; and
○ As we continue to increase the number of Value Buds locations and introduce this banner to more customers, we anticipate that our gross margin as a percentage of sales will blend out to be approximately 12% to 15% in the second half of 2021 and we anticipate that the sales increases already realized to date will continue and possibly accelerate.
● Currently, thirty (30) new stores are under development/construction – nineteen (19) in Ontario and eleven (11) in Alberta; most are expected to open in the second half of 2021. In addition, Nova has another thirty (30) new store locations in Ontario under active negotiation.
● To date in May, converted Nova's original Ontario store on Queen Street West to Value Buds and opened one (1) new Value Buds store at Bloor and Lansdown in Toronto, Ontario.
The Company expects to adopt an aggressive and disciplined stance toward growth focusing on:
● Organic store openings
● Opportunistic and sensible acquisitions to complement organic growth
● Same-store sales growth
● Private label
● Basket size growth
When it comes to both organic growth and acquisition opportunities, the Company is focused on store locations that have long-term viability. Management recognizes that in Ontario, due to its historically slow retail cannabis store rollout, many existing cannabis retail locations have enjoyed monopoly-like positions in very large trade areas. These monopolies have provided many cannabis retailers with revenues that we believe are unsustainable with greater competition and vulnerability to new retailers who can offer better pricing as well as traditional retail fundamentals such as visibility, parking, and proximity to other customer draws.
Additional store conversions to the Value Buds banner will continue in Q2 and Q3 2021. Store banner conversions from the legacy banners of YSS and Sweet Tree to our new discount-focused banner, Value Buds, have been delayed by the world-wide microchip shortage resulting in longer than expected lead times to acquire point-of-sale hardware and other equipment necessary to properly operate the stores as Value Buds; however, we believe that these conversions will be substantially completed in Q3 2021.
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) will release its financial results for the fourth quarter and fiscal year 2021 ended March 31, 2021 before financial markets open on June 1, 2021.
Following the release of its fourth quarter and fiscal year 2021 financial results, Canopy Growth will host an audio webcast with David Klein, CEO and Mike Lee, EVP & CFO at 10:00 AM Eastern Time on June 1, 2021.
A live audio webcast will be available at:
https://produceredition.webcasts.com/starthere.jsp?ei=1455554&tp_key=5f1698b420
A replay will be accessible by webcast until 11:59 PM ET on August 30, 2021 at:
https://produceredition.webcasts.com/starthere.jsp?ei=1455554&tp_key=5f1698b420
Grapefruit USA, Inc. (OTCQB: GPFT), a diversified California-based cannabis and hemp company, today announced that it has commenced accepting cryptocurrency as payment at its recently launched e-commerce store: www.hourglassonlinestore.com
Grapefruit’s customers who prefer to use Bitcoin, Ether, Bitcoin Cash, Litecoin, Dogecoin or Monero will now be able to “convert” their crypto of choice at checkout to make purchases at the Company’s new e-commerce store.
With respect to the Company’s novel acceptance of cryptocurrencies, Bradley J. Yourist, GPFT CEO, commented, “Grapefruit’s THC-free hemp-derived CBD Hourglass technology-driven products, just like cryptocurrencies and the blockchain, are the future, and Grapefruit’s acceptance of crypto as payment demonstrates GPFT’s outreach to the explosively growing demographic of crypto early adopters and other ‘younger’ buyers who also seek the holistic benefits of Grapefruit’s THC-free, hemp-derived Hourglass time-release CBD products. Everyone, young and old, experiences sore muscles from working out and other aches and pains, and our THC-free hemp-derived CBD Hourglass-powered products can provide a solution for all demographics – whether they choose to pay by American Express Platinum or Dogecoin on our accurate and secure payment platform. We envision the days after Sen. Schumer succeeds in his efforts to decriminalize THC and customers from the 50 states and throughout the world will be able to use crypto to pay for purchases of our full-spectrum THC Hourglass time-release technology-powered products through our e-commerce platform.”
Grapefruit is devoted to selling only the highest-quality, plant-based, independently tested and reliable cannabis and hemp products and will make no claims unless clinically validated. All of Grapefruit’s THC-free hemp-derived CBD-based products to be marketed and sold on the new e-commerce website will be thoroughly tested and include a QR coded certificate of analysis, which will provide consumers with a complete list of third-party-verified ingredients certifying each product’s cannabinoid content, purity and safety. The Company does not recommend investing in cryptocurrencies without doing your own due diligence and obtaining the advice of an investment advisor or other counsel.
To learn more about the new Grapefruit Affiliate Program, please visit:
https://hourglassonlinestore.com/affiliates/
To learn more about the new e-commerce store, please visit:
https://hourglassonlinestore.com/
To learn more about Grapefruit, please visit InvestorBrandNetwork:
https://www.investorbrandnetwork.com/clients/grapefruit-usa-inc/
To learn more about Grapefruit’s new sustained-release Hourglass™ THC + Cannabinoid Topical Delivery Cream, please watch this promotional video, https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be, and visit our website at
https://grapefruitblvd.com/hourglass/.
To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com/investor-relations/
Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that 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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