Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move - (CSE: $SOL.C) (TSXV: $DN.V) (TSX: $WEED.TO) (NYSE: CGC) (TSXV: $NRTH.V)
Delta, Kelowna, BC –August 9, 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/08091SOL-DN-WEED-CGC-NRTH.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.
SOL Global Investments Corp. (CSE:SOL) (OTCPK:SOLCF) announced today a proposed change of business of SOL Global from an international cannabis investment company to a U.S. multi-state cannabis operator ("MSO") under the Life Sciences category of the Canadian Securities Exchange.
The MSO's initial operations will include assets in three (3) of the top ten (10) cannabis markets by revenue in the U.S., as forecasted by ArcView market research – Florida, Michigan and California. The Company has focused in on a path to profitability by keeping the capital expense and operating expense low with an efficiency-driven model of integrating operations and streamlining management, brand deployment and the Company's proprietary delivery models across all three (3) states, all while being fully compliant with applicable U.S. state laws and regulations.
Brady Cobb, the CEO of SOL Global, says the timing of the proposed change of business is strategic, stating: "One of the innate strengths of SOL Global's management is knowing when to enter a market, as is evidenced with our early success in Canada and Florida. We have planned this transition and the market entrance of our MSO to coincide with the rapid growth of the legal U.S. cannabis marketplace amid a presumptive tail wind from federal policy reform initiatives related to cannabis, a process I've been deeply involved with. We believe that the timing of our MSO's entrance into the market will position us well to capture that growth."
Tantamount to the proposed change of business is the proposed change of the Company's name from SOL Global Investments Corp. to Bluma Wellness Inc. "Bluma" is an ancient Hebrew word which means to flower, bloom or blossom. The Company selected this name based on a key principle of the business: to ensure that our patients and consumers utilize our plant-based products to enhance their daily lives, namely to bloom and thrive.
Mr. Cobb says that the new name was chosen to be synergistic with the Company's new direction, stating that "We chose the name Bluma Wellness, as an appropriate way to honor the true intent of each seed that we cultivate, harvest, and deliver as a product to ensure that every single one of our customers has a consistent and enriching experience that allows them to flourish." He added: "We also look forward to bringing investors a new kind of MSO, one that is focused on profitability in the short term through operational and logistical efficiencies and a keen eye on the bottom line."
As part of the Company's initiative in shifting their focus of business to the vertically integrated expansion of its MSO operations, the Company plans to complete the previously-announced acquisitions of the proposed assets of the MSO which include the licensed dispensaries operated by MCP Wellness in Michigan as announced on April 24, 2019, their California acquisitions which include the famed Humboldt, California-based cultivator "Northern Emeralds" and the California-based dispensary chain "One Plant USA" as were announced on May 16, 2019, in addition to SOL Global's existing vertically integrated license in Florida, 3 Boys Farm. The MSO's resulting products will be powered by Northern Emeralds' genetics and innovative data-driven cultivation and processing techniques. The anchor will be the brands and products that SOL Global has invested in, which will be strategically deployed in the MSO's dispensaries including One Plant's robust retail arm across the states of Florida, Michigan and California (subject to the receipt of all required governmental approvals).
It is expected that the MSO will bridge the gap between traditional THC products and mainstay CPG products. All MSO Assets transactions are expected to close in October 2019, subject to all applicable conditions precedent being satisfied or waived including the receipt of all required governmental approvals.
DELTA 9 CANNABIS INC. (TSX-V: DN) (OTCQX: VRNDF) announced that is has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its common shares on the TSX.
"We are very excited to be in the final stages of qualifying to be up listed to the TSX. This is a major milestone in our strategic growth plan and for our shareholders," said John Arbuthnot, Chief Executive Officer of Delta 9. "This eventual listing on the TSX will help to increase trading liquidity, provide access a growing investor base interested in the cannabis industry, and raise capital for further investments."
Final approval of the listing is subject to the Company meeting certain standard requirements of the TSX on or before November 5, 2019. The Company expects to satisfy all of the requirements and will make a further announcement once the TSX has issued a bulletin confirming the date on which trading on the TSX will commence. Upon completion of the final listing requirements, the Common Shares, 2017 Warrants, 2019 Warrants and Debentures will be delisted from the TSXV and begin trading on the TSX under the symbols, "DN", "DN.WT", "DN.WT.A" and "DN.DB", respectively.
"As one of Canada's only vertically integrated cannabis companies, we are excited about the opportunities in this rapidly growing market to drive shareholder value and continue Delta 9's success story. The TSX is the premier listings destination and this achievement highlights the strength of our experienced management and team, our commitment to growing shareholder value," said John Arbuthnot, Chief Executive Officer of Delta 9.
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced that it has entered into an agreement to acquire the global cannabinoid-based medical researcher Beckley Canopy Therapeutics. The acquisition brings together Canopy's wholly owned research program with the Beckley Canopy research platform which is partly owned by Canopy Growth in order to combine the best teams, programs and clinical work all under a single strategic plan. The research arm in turn directly supports the commercial efforts of Spectrum Therapeutics around the world. As part of the acquisition, Canopy Growth also acquires the outstanding shares in Spectrum Biomedical UK, the commercial arm of the Company in the United Kingdom, as that markets begins to develop into a commercially viable opportunity.
With the acquisition of C3, and Canopy Growth's expanding research and development plans worldwide, the Company is solidifying its status as a truly global leader in cannabinoid research. Spectrum Therapeutics will leverage Beckley Canopy's intellectual property, accelerate its comprehensive research programs, build evidence around the Company's products and formulations and ultimately improve patient access to cannabinoid-based medicines globally.
"The acquisition of Beckley Canopy will allow Spectrum Therapeutics to continue expanding its medical cannabis leadership around the world, strengthening our foothold in the UK and more broadly across Europe – a region that wants to see stronger clinical evidence around cannabis-based medicines," said Mark Zekulin, CEO, Canopy Growth Corporation. "We're excited to continue working with the incredible management team at Beckley Canopy to accelerate our shared vision to create evidence-based cannabis formulations that will serve patients in need around the world."
Beckley Canopy was formed as a joint venture in January 2018 between Beckley Research & Innovations ("BRI") and Canopy Growth to research and develop clinically validated cannabis-based medicines, with a strong focus on intellectual property protection. The research platform combined European and North American-based leaders in cannabis research from BRI and Canopy Growth to create a strong and complementary UK-based European partnership. Since its inception, Beckley Canopy has made significant progress in three initial areas of research, namely cancer pain, opioid sparing, and smoking cessation, with further research in progress.
Once the acquisition is complete, Beckley Canopy will be fully integrated into the current Spectrum Therapeutics platform and management team in Europe, a region of focus for the Company as policy surrounding medical cannabis and patient access continues to evolve. The leadership team at Beckley Canopy has demonstrated a strong track record of success in the short period since its inception, and the senior research team boasts a combined 75 years of pharmaceutical research globally.
48North Cannabis Corp. (TSXV:NRTH) announced today that it has successfully shipped its first order of cannabis to the Ontario Cannabis Store ("OCS") for retail sale. The shipment marks the Company's first foray into Ontario's recreational retail market.
Today's shipment is just the beginning of the Company's relationship with the OCS. Looking ahead, 48North has agreed to supply 1,200 kilograms of sun-grown outdoor organic cannabis from Good:Farm and 180 kilograms of its high-quality craft indoor-grown cannabis from its northern cultivation facility, delshen. Today's shipment pertains to the 180 kilograms from its indoor facilities.
"48North is looking forward to sharing our high-quality cannabis with Ontario consumers. Today's shipment marks a major milestone for the Company. As we look ahead, the Company is well-prepared to deliver on all of its supply agreements, we look forward to sharing our products with consumers across the country," said Alison Gordon, co-CEO of 48North.
By the end of the year, 48North products will be available for retail sale in Ontario, Alberta and Quebec. 48North has committed approximately 5,000 kilograms of cannabis from its three facilities to provincial distributors in 2019.
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