Delta, Kelowna, BC, March 9th,
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:
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 announcements.
But first, Shelter
Craft Collective, a division of
1193269 BC Ltd., doing business as Shelter Cannabis announced that North 40 Cannabis (North 40)
was made available to retailers in Saskatchewan today.
North 40 is Canada's first licensed micro-cultivator and
processor. Based in Saskatchewan, the small family run grow with over thirty
years of cultivation experience will be bringing their first harvest to market
under Shelter's house brand, Farmstead.
"We are extremely pleased to be able to team up with
Shelter to get our products out to consumers," said Gord Nichol of North
40. "It's been a long time coming
and we couldn't be happier that our home province, Saskatchewan, will be first
in line to have access to our hand crafted, small batch cannabis."
Nichol went on to say he believes this is the start of a
turning point in the cannabis industry where quality will challenge the big
companies for consumers hearts and minds. "We trust our products will
meet, and hopefully exceed expectations."
Processed in Shelter's Agro-Greens facility, this
small-batch, hand-trimmed and non-irradiated craft cannabis is the first wave
of what many expect to be a coming craft revolution in Canada's cannabis
industry. "A lot of us lobbied for the inclusion of this class of license
and worked hard behind the scenes to make this happen," said Jamie Shaw,
Director of Communications and Culture for Shelter. "We are proud to be
bringing cannabis grown and processed in Saskatchewan to Saskatchewan
consumers, and we hope other provinces look to what Saskatchewan is getting
right."
Kiaro is one of the Saskatchewan retailers that have
anxiously been awaiting craft product. "We are excited to have the
opportunity to be working with the amazing teams at Shelter Brands and North 40
to feature their locally grown, small batch, hand crafted cannabis in our
Saskatchewan retail stores," said Andrew Gordon, Sr Vice-President of
Retail Operations and Community at Kiaro. "This is an important step
forward in realizing the dreams and aspirations of legalization for producers,
retailers and consumers alike; and we are committed to ensuring that small
scale, craft producers have an opportunity to thrive in the regulated
market."
BR Brands LLC, a
premier house of brands within the legal cannabis sector, and Dixie Brands Inc. (CSE: DIXI.U) (OTCQX: DXBRF), one of the cannabis industry's
most recognized consumer packaged goods companies, have signed an exclusive, binding term sheet
to merge. Under the terms of the deal, BR Brands will combine operations with
Dixie by assuming the publicly traded platform via a reverse takeover. This
transaction, expected to be completed by the third quarter of this year, will
create one of the cannabis industry's most comprehensive established house of
brands.
BR Brands is the owner of Mary's Brands™, a portfolio of cannabis products that includes the acclaimed
medical and topical brand Mary's Medicinals®. BR Brands' portfolio also
includes three California based brands; Defonce, Beezle and Rebel Coast. With
an ecosystem of operating assets and an infrastructure that currently spans 11
states and Puerto Rico, BR Brands is a market leader in geographic reach and
product diversity.
"BR Brands and its affiliates have had a long-standing
relationship with Dixie, rooted in a deep respect for its platform and product
portfolio," said Andrew Schweibold, Chairman of BR Brands. "BR Brands
was established to unite premium and emerging cannabis brands under one
umbrella, offering unparalleled access to top-tier operating talent and capital
expertise. With the consummation of this transaction, the resulting entity is
poised to build upon our product portfolio, develop best-in-class IP and expand
our geographic footprint, all while remaining laser-focused on continuing to
meet the needs of our consumers."
Dixie Brands has been a pioneer and leader in the
infused-cannabis industry since the launch of its iconic THC-infused Elixir in
2010. Recognizing early that the future of the cannabis industry lay in
embracing CPG principles, the company focused on developing industry leading
product development, production, distribution and marketing capabilities,
leading to the creation of one of the industry's broadest 'house of brands'.
The portfolio includes established brands such as Dixie™, Synergy™, AcesoHemp™,
Therabis™ and a strategic partnership with Herbal Enterprises, LLC, an
affiliate of the AriZona™ brand.
"The challenges of the current cannabis related capital
markets have guided Dixie to look for a strategic partner in order to solidify
a platform we can leverage for long-term, stable growth for our shareholders.
This strategic combination brings two of the most trusted and iconic brands together
on one of the broadest manufacturing and distribution platforms in the
industry," said Chuck Smith, President and CEO of Dixie. "We are very
pleased with the fundamentals of the deal as they will strengthen our balance
sheet by decreasing debt, improving our cash position, and providing
opportunities to enhance revenue growth and capture greater margin."
The Board of Directors of the merged company will be
comprised of three nominees of BR Brands and two nominees of Dixie. Chuck
Smith, President and Chief Executive Officer of Dixie, will become President
and Chief Executive Officer of the merged company and Andrew Schweibold will
serve as chairman of the board of the merged company. Unrelated to the deal and
for personal reasons, Dixie's Chief Financial Officer, Greg Robbins has
resigned effective immediately. Dixie's current Controller, Jared Lanser, will
assume the role of interim CFO of Dixie.
Planet 13 Holdings
Inc. (CSE: PLTH) (OTCQX: PLNHF), a leading vertically-integrated
Nevada cannabis company, announced that it served an average of ~2,200
customers per day in February while maintaining an average ticket of ~$100.00.
The addition of Phase II – the customer-facing production facility, restaurant,
and event space – along with increased awareness of the SuperStore has driven
year over year same store growth of 48% through the first two months of 2020.
"The customer-facing production facility and restaurant
have been a clear driver of customer traffic and have led to our visitors
spending more time enjoying all the unique features of the SuperStore complex,
increasing average ticket size. Our vision for the SuperStore is coming to
fruition. It is a one of a kind complex full of related activities and
attractions that improve the cannabis shopping experience, drives
cross-promotion, provides entertainment, and increases sales," said Bob
Groesbeck, Co-CEO of Planet 13.
Emerald Health
Therapeutics, Inc. (TSXV: EMH) (OTCQX: EMHTF) has signed a letter of intent under which
Sigma Analytical Services Inc., a full-service GMP-compliant testing laboratory
for cannabis, hemp, and derived products, may acquire Emerald’s Avalite
cannabis analytical testing operation. The companies also intend to establish a
preferred partner relationship. Terms of the deal have been agreed to in
principle and will be announced upon completion. Execution of definitive
agreements is subject to due diligence and board approval of both companies and
is expected to occur on or before April 19, 2020. Completion of the transaction
will be subject to a number of conditions including settlement of final
documentation and receipt of applicable regulatory and third-party approvals.
“We are very pleased to expand our testing services in
Western Canada. We see many benefits in being physically close to our clients
(licensed producers and processors) and building true partnerships with them to
enhance the quality of products. This is the main reason why we also started
expanding to Colombia in 2019,” said Dr. Kaveh Kahen, President and CEO of
Sigma. “We believe having a complete analytical and microbiology testing lab
for cannabis in BC would give us the opportunity to establish similar
partnerships with the thriving craft cannabis sector, as well as large
producers, in British Columbia and Alberta.”
Riaz Bandali, President and Chief Executive Officer of
Emerald, said, "We believe the analytical marketplace has excellent growth
dynamics based on the positive global trend to legalize cannabis. However, it
is necessary to have a critical mass of scientific expertise and scale. In our
view, the best growth opportunity for our Avalite operation is to integrate it
with a dedicated analytical services company. We are very pleased with the
opportunity to move forward with a constructive relationship with Sigma and its
group of experts in this segment.”
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