Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move: (CSE: $HUGE.C) (CSE: $PLTH.C) (TSX: $VFF.TO) (NASDAQ: VFF) (TSXV: $META.V) (CSE: $CROP.C)
Delta, Kelowna, BC –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/04231HUGE-PLTH-VFF-META-CROP.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 FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF), Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF), Village Farms International, Inc. (TSX: VFF) (NASDAQ: VFF), National Access Cannabis Corp. (TSXV: META) and CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF).
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) and Prismic Pharmaceuticals Inc., a US-based specialty R&D pharmaceutical company, announced today that they have entered into a securities exchange agreement dated April 22, 2019 pursuant to which FSD Pharma has agreed to acquire all of the outstanding securities of Prismic. Prismic is developing novel non-addictive prescription drugs with unique safety profiles with the goal of addressing the opioid crisis based on formulations utilizing micro-palmitoylethanolamide's ("PEA") "entourage" effect on certain drugs impacting the endocannabinoid system.
Pursuant to the terms of the Agreement, FSD Pharma will acquire all outstanding common and preferred shares of Prismic for an aggregate purchase price of US$17.5 million (CAD$23.4 million based on an exchange rate of US$1 to CAD$1.3349), to be satisfied by the issuance of an aggregate of 102.7 million Class B subordinate voting shares in the capital of FSD Pharma at a deemed price of CAD$0.2275 (US$0.1704) per FSD Share representing the volume weighted average price of the FSD Shares on the Canadian Securities Exchange for the ten trading days prior to the execution of the Agreement. In addition, FSD Pharma has agreed to assume up to US$4.0 million of outstanding Prismic liabilities on terms to be mutually agreed by the two companies, some of which may, potentially, be settled by the issuance of additional FSD Shares. Additionally, all of the outstanding Prismic stock options and warrants will become exercisable into FSD Shares, with the number and exercise price of such securities to be adjusted in accordance with the Transaction's exchange ratio.
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF), a leading vertically-integrated Nevada cannabis company, announced today that April 20, 2019 ("420") was the single biggest shopping day since the Company's Cannabis Entertainment Complex opened on November 1, 2018. The store received over 6,000 visitors to the SuperStore, with almost 3,500 as paying customers and an average ticket of US$91.11.
"The unparalleled shopping and entertainment experience offered by the SuperStore has made it a draw for both cannabis connoisseurs from across the U.S. and internationally, as well as for the many casual cannabis users that come to Las Vegas every week for world-class entertainment," said Larry Scheffler, Co-CEO of Planet 13. "With our Phase II expansion underway and the Company's visibility increasing, we are well-positioned to continue growing both within our existing Las Vegas footprint and across the U.S."
Phase II construction remains on schedule for opening in Q3 2019. Phase II which includes a coffee shop, bistro, event space, and consumer-facing production facility is expected to drive additional awareness, traffic, and spend, cementing the Planet 13 SuperStore as a must-see destination for anyone from the cannabis curious to the cannabis connoisseur visiting Las Vegas.
Village Farms International, Inc. (TSX: VFF) (NASDAQ: VFF), today announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has, on schedule, completed planting of Quadrants 1 and 4 of its 1.1 million square foot Delta 3 greenhouse operation in Delta, BC. As a result, the entire 1.03 million square feet of growing area at the Delta 3 facility (composed of 16 individual grow rooms) is now in production. Pure Sunfarms remains on track to achieve full run rate annual production of 75,000 kilograms at the Delta 3 greenhouse operation by mid-2019.
"With the support of Village Farms' decades of experience developing and ramping up large-scale growing operations, the Pure Sunfarms team continues to execute on plan," said Michael DeGiglio, Chief Executive Officer, Village Farms. "We have great confidence in the team's ability to replicate the success of the Delta 3 cannabis operation with the nearly identical 1.1 million square foot Delta 2 'sister' facility, which will double Pure Sunfarms' annual production to 150,000 kilograms and support its goal to be the high-quality, low-cost producer in Canada."
As previously announced, Pure Sunfarms is targeting to complete its first harvest at the Delta 2 facility by mid-2020 and achieve full run-rate production at the Delta 2 facility in the fourth quarter of 2020. Village Farms also announced today that it will host a conference call to discuss its first quarter 2019 financial results on Friday, May 10, 2019 at 11:00 a.m. ET.
National Access Cannabis Corp. . (TSXV: META), Canada's largest private cannabis retailer, today announced it has received approval from the Alberta Gaming, Liquor and Cannabis Commission ("AGLC") to open a new store at 130, 5403 Crowchild Trail NW, Calgary Alberta.
"The Crowchild Trail store marks the 25th store in our portfolio," said Mark Goliger, CEO of NAC. "We're encouraged by increases in available inventory in Alberta where we have an additional 18 licenses submitted and awaiting approval. We have the largest footprint of retail cannabis stores in the province of Alberta, and Canada as a whole, and we expect to maintain this position by continuing to aggressively pursue expansion opportunities in the early stage, and extremely high growth, cannabis industry."
NAC is the national leader in retail cannabis. Currently operating in 3 provinces, NAC plans to open stores in British Columbia within 2019, and in Ontario within 2020. NAC's experienced team of retail industry professionals is focussed on achieving its business plan of having 40 operating stores by the end of calendar 2019, and 110 operating stores by the end of calendar 2020.
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) announced today that it has completed the construction of its 57,600 square foot nursery in Nye County, Nevada.
It has been equipped with trays and LED lighting specially designed to enhance the growth of plant starts for the 2019 CBD farms licenced on the company's various properties in the state. This was a key project in order to maximize yield, reduce farming risk and costs for the 2019 planting season.
CROP continues to gauge interest and review potential off take relationships for the 2019 season for its CBD products.
The global medical cannabis market value is expected to reach a value of US$ 45.4 Billion by 2024, with a CAGR of 22.9% during 2019-2024, according to IMARC research. The firm's estimate for last year was that it would to reach US$ 13.4 Billion.
CROP CEO, Michael Yorke, stated: "The CROP family of companies and subsidiaries continues to build strategic infrastructure in key states where we are present. These are one time builds that will streamline harvests, reduce risks and costs as well as maximize yields for many years to come."
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