Thursday, December 5, 2019
Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move; (CSE: $DIXI.U.C) (CSE: $MYM.C) (OTCQB: $GBLX) (OTCQB: $TAUG)
Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move; (CSE: $DIXI.U.C) (CSE: $MYM.C) (OTCQB: $GBLX) (OTCQB: $TAUG)
Delta, Kelowna, BC, December 5th, 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 podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Read this in full at https://www.investorideas.com/news/2019/cannabis-potcasts/12051DIXI-MYM-GBLX-TAUG.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.
But first, The U.S. Food and Drug Administration (FDA) recently published a revised Consumer Update, titled “What You Need to Know (And What We’re Working to Find Out) About Products Containing Cannabis or Cannabis-derived Compounds, Including CBD,” where it clarifies the legality of marketing CBD products and airs its concerns about the hemp-derived compound’s prolonged health effects.
In the Consumer Update, the FDA emphasizes that of all the oils, lotions, food, beverages and numerous other CBD products on store shelves, only one has been approved by the FDA—Epidiolex, a prescribed oral solution used to treat two rare, severe forms of epilepsy.
Otherwise, CBD that is marketed as a dietary supplement, added to food or labeled as any sort of cure or treatment for an ailment is technically illegal, as CBD products are subject to FDA regulations.
The regulatory crackdown comes on the heels of the FDA issuing warning letters to 15 companies in late November for illegally selling CBD products in ways that violate the Federal Food, Drug, and Cosmetic (FD&C) Act. The companies are required to respond with plans to correct the violations within 15 working days.
Many of the companies that received letters now have disclosures on the bottom of their web pages that explain the products were not evaluated by the FDA and are “not intended to diagnose, treat, cure or prevent any disease.”
The warning letter left some wanting answers, including Shiloh Thibodeaux, a founding member of Organix Industries Inc., doing business as Plant Organix.
“We are left with several questions regarding the warning letter. Why were we, along with 14 other companies, singled out while hundreds are left to continue business as usual? Why would the federal government legalize production and sale if only to be derailed by its own agency?” Thibodeaux says. “We are duly licensed to conduct CBD business and will respond to the FDA with legal ingredients in our products, ensuring required labeling is in place.”
Dr. Gregory Smith, the CEO of Red Pill Medical Inc., another company that received a warning letter from the FDA, tells Hemp Grower he was “pleased” to receive guidance from the agency. “There is so much confusion in the marketplace that I see this as an opportunity to work with the FDA to give companies clear guidance on what they can and cannot say. At this point, the industry simply gets told what they can’t say or do, but what we need is exact guidelines on what we can say and do,” Smith says.
In its consumer update, the FDA says it recognizes the “significant public interest” in CBD but warns of the numerous unknowns involved with using the compound in products. It adds that it is working to answer the unknowns through ongoing efforts, such as feedback from a recent FDA hearing and information through a public docket.
“As part of the drug review and approval process for the prescription drug containing CBD, it was determined that the risks are outweighed by the benefits of the approved drug for the particular population for which it was intended,” the FDA says in the Consumer Update.
With limited data available on CBD’s health effects so far, the FDA says its chief concerns include:
● CBD’s potential to harm users before they become aware of its effects.
● Noticeable side effects of CBD, which include “changes in alertness” (or drowsiness), gastrointestinal issues and changes in mood.
● The unknown aspects of CBD, which include:
○ Its effect with prolonged use.
○ Its effect on the developing brains of children.
○ Its effects on developing fetuses or breastfed newborns.
○ Its effect on others in special populations, such as the elderly, adolescents, pregnant women and pets.
○ How it interacts with other herbs, botanicals and medications.
○ Its effect on the male reproductive system.
Of notable concern is CBD’s potential for liver injury, which the FDA says it discovered during its review of the marketing application for Epidiolex. FDA says the risk can be managed under medical supervision, but its effects on general CBD users who aren’t monitored are unknown.
Another concern cited by FDA is CBD’s potential effects on the male reproductive system. FDA says studies in laboratory animals showed male reproductive toxicity, including in the male offspring of CBD-treated pregnant females.
For some, the FDA’s concerns stir up outlandish claims not yet backed by solid evidence.
“It's ironic that the FDA sends warning letters to CBD companies for allegedly making false claims, or medical claims, while the FDA is arguably making inaccurate, scientifically insufficient, and evidence-lacking claims about CBD and its effect on human health,” Morris Beegle, the co-founder and president of a group of hemp companies called We Are For Better Alternatives, tells Hemp Grower. “What the FDA has suggested lacks facts. This is the same fear-mongering approach governments have been using for 80-plus years.”
Smith agrees that the FDA’s concerns regarding CBD are “a little misleading.”
“The studies showing these problems were mainly done in animals who were given incredibly high doses of cannabis (if extrapolated to humans, no one under normal conditions could consume that much cannabis or CBD) that lead to liver issues. Also, the metabolism and absorption of CBD in the mice/rat model is very different than in humans,” Smith says. “I have maintained that clinically, the safety profile of CBD is excellent, especially when compared to any prescription medication. This is not to say that consumers with medical problems taking prescription medications should not use CBD with caution. Our model since day one was to make sure that consumers that are being treated for chronic illnesses, taking prescription medications, not take CBD without consulting a physician who is educated in cannabinoid medicine.”
The FDA says it is continuing to evaluate its regulatory framework regarding CBD based on information it receives, but concrete answers from the agency may be far off.
As the agency works to wrap its head around the increasingly popular product, it’s unclear how its stance will shape the industry. CBD products, however, are still fully marketable as long as they aren’t added to food, aren’t labeled as a dietary supplement and don’t make false claims.
Brightfield Group, a CBD and cannabis research firm, estimates the CBD market, currently worth $5 billion, will reach $23.7 billion by 2023.
Dixie Brands Inc. (CSE: DIXI.U) (OTCQX: DXBRF) today announced that the United States Patent and Trademark Office will issue its wholly-owned subsidiary, Aceso Wellness, LLC, a patent for a unique range of formats providing for the delivery of cannabinoids, along with nutrients, in effervescent powder and/or aqueous liquid forms.
The patent application, entitled 'Cannabinoid Emulsion Product and Process for Making the Same', encompasses a broad set of popular formats and formulations that provide for various nutraceutical compositions including cannabinoids, supplements and vitamins. These compositions have been configured for specific uses such as the promotion of the immune system, improved energy levels, joint and bone health, reduced inflammation, and more efficient cellular energy metabolism.
"This patent is the culmination of a 3-year process and demonstrates our commitment to, and investment in, the potential power of the inclusion of cannabinoids to help support healthy lifestyles." says Jay Denniston C.F.S., Director of Science, Dixie Brands. "It provides proven, efficacious formats for consumers as they continue to explore cannabis as a plant-based, healthy alternative to traditional pharmaceutical products."
The Company's patented technology provides an extensive and protected platform to further access the burgeoning US Dietary Supplement market in addition to the rapidly emerging hemp-derived category. The US Dietary Supplement market is expected to grow to nearly US$57 billion by 2024 (Source: Matej Mikulic, Sep 19, 2019) lead by non-pill formats and fueled by increasing consumer awareness of nutrition, a focus on preventative health care and a desire for solutions that are perceived to be more natural.
"This is an incredibly exciting development for Dixie Brands, reflecting the depth of our R&D heritage, established over nearly a decade." said Chuck Smith, President and CEO, Dixie Brands. "As the FDA provides positive guidance and the category continues to grow, securing patents for our scientific intellectual property not only provides protection for key elements of our portfolio and optimizes shareholder value but also further supports the continued legitimization and normalization of the cannabis industry."
The patented technology has been commercialized by Aceso's range of hemp-derived sprays, dissolvable tablets and powder sachets. The effervescent powder lies at the center of the company's growth strategy in the hemp-derived CBD market due to the existing popularity of that format in the broader health and wellness category. The portfolio currently includes Calm, Soothe and Wellness variants and is available in more than 1,000 brick and mortar stores across the country. The breadth of the forthcoming patent protects the inclusion of cannabinoids in products across a broader range of formats and channels including the regulated cannabis marketplace.
MYM Nutraceuticals Inc. (CSE: MYM) (OTCBB: MYMMF) announced that it has paid back the Trichome loan in full, is now completely debt-free, and maintains a healthy cash-positive bank balance.
Although the Trichome loan has been fully paid and there are no further obligations from MYM to Trichome with respect to the loan, Trichome remains supportive of the Company exploring potential acquisitions in the future. As such, the Company will continue its exploration to find great value, given current market conditions, and looks forward to working with Trichome on future projects.
"We are committed to our strategy of focused opportunistic acquisition. We remain debt-free with the ability to potentially access additional capital should the right opportunity present itself," said Howard Steinberg, CEO of MYM. "With the increasingly complex capital market environment in the cannabis industry, we believe there are companies with valuable core assets that are poised to benefit from the restructuring expertise our team can bring, in terms of both capital and management support."
"While we are pleased to have been repaid on our loan, we remain supportive of MYM as they pursue strategic options that may arise," said Michael Ruscetta, Trichome Financials' Chief Executive Officer.
GB Sciences, Inc. (OTCQB: GBLX) announced the execution of a Binding Letter of Intent for the Sale of 75% of its membership interests in the Company's Las Vegas, Nevada cultivation and production operation. This transaction will significantly reduce the Company's operating expenses, generate near-term working capital, and provide ongoing cashflow to enable the Company to focus solely on its biopharmaceutical and wellness assets.
The transaction is the next step in the Company's exit from cannabis cultivation and production. The Company is pivoting to focus all of its capital and efforts on advancing GBS Global Biopharma, Inc.'s scientific programs including its three patents, four patent applications and four provisional patent applications. This is in anticipation of interim data on the Parkinson's Disease animal studies expected later this month, which will be readying the Parkinson's formulation for a first-in-human trial. The Company is also developing a wellness business, utilizing its formulations for licensing as nutraceuticals and natural health supplements which allows earlier monetization of its patent portfolio.
At Closing, the $6 million sale of its interests in the Las Vegas operation shall include a $3 million cash payment and a $3 million promissory Note to GB Sciences with the opportunity to sell the remaining 25% interest to the Purchaser in 18 months from Closing. Due to the moratorium on license transfers in Nevada, a Closing date will be set when the moratorium is lifted. The Purchaser will immediately manage the Las Vegas facility relieving GB Sciences from those operational expenses, provide a $500,000 credit line to operations and GB Sciences shall benefit from any available cash flow. The Sale immediately eliminates $5.77 million of annual operating expenses and $5 million for construction to expand the facility's capacity to approximately 300% of its current output. After Closing, GB Sciences will continue to receive 25% of the net profits with none of the expenses.
Andrea Small-Howard, Chief Science Officer of GB Sciences, stated: "We think this transaction is important to the continued success of the Company and its shareholders. It will free-up capital to focus on our most valuable assets through continued development of clinical cannabis and wellness formulations for which the Company has filed numerous patents, progressing the research on our Parkinson's Disease and Chronic Neuropathic Pain formulations towards clinical trials and allowing us to build a robust portfolio of nutraceutical formulations for global licensing. The Company's pivot offers tremendous opportunity to create substantial shareholder value in this untapped segment of the cannabis sector."
Tauriga Sciences, Inc. (OTCQB: TAUG) today announced its plans to develop a Cannabigerol (“CBG”) Infused product to complement its existing Cannabidiol (“CBD”) Isolate Infused product line(s): Tauri-Gum™ and Tauri-Gummies™. The Company may, alternatively, decide to acquire a CBG Infused product or product line – should such opportunity prove synergistic with existing business activities and infrastructure.
Cannabigerol (“CBG”) is a non-psychoactive cannabinoid that plays an important role in the biochemistry of the cannabis plant. CBG acts as a chemical precursor to other cannabinoids such as THC and CBD. This conversion typically takes place 6-8 weeks in the flowering cycle. CBG is present only in trace amounts in most cannabis strains, however some hemp strains are specifically cultivated to generate higher yields of this cannabinoid.
CBG holds promise to be a key constituent in the overall medicinal benefits cannabis may provide. As cannabis research continues to rapidly evolve, CBG may emerge as one of the most therapeutically applicable and diverse cannabinoids to offer a wide range of possible remedies.
CBG is not scheduled by the UN Convention on Psychotropic Substances. In the United States, it is not a controlled substance under the Controlled Substances Act as long as it is not produced from the controlled parts of the cannabis plant.
Tauriga’s CEO Seth M. Shaw expressed, “Over the past 18 months, the Company has established a considerable Research and Development infrastructure and capacity. With respect to the industry landscape and overall retail marketplace, the Company believes that the timing is prudent to develop or acquire a CBG Infused product offering as a diversification to Tauriga’s existing product lines. The Company places great emphasis on staying ahead of the curve and being innovative as opposed to reactionary.”
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The #MJBizCon Canna Buzz for #Cannabis #Stocks - (OTCQB: $SING) (OTC: $KSHB), (NYSE: $ACB) (TSX: $ACB.TO) (CSE: $TRUL.C) (OTC: $TCNNF)
The #MJBizCon Canna Buzz for #Cannabis #Stocks - (OTCQB: $SING) (OTC: $KSHB), (NYSE: $ACB) (TSX: $ACB.TO) (CSE: $TRUL.C) (OTC: $TCNNF)
Exhibitor SinglePoint Inc. to Showcase Smokable Hemp - one of the fastest growing segments in the industry
Point Roberts WA, Delta, BC – December 5, 2019 - Investorideas.com, a leading investor news resource covering cannabis and hemp stocks releases a special report looking at the upcoming MJBizCon event in Las Vegas, December 11th-13 and some of the many attending industry leaders and exhibitors expectations, including SinglePoint Inc. (OTCQB: SING), KushCo Holdings, Inc. (OTC: KSHB), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) and Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF).
MJBizCon is an annual three-day event where cannabis industry professionals network, listen to premier keynote speakers and explore the more than 150 exhibiting businesses. The event brings together many top-level individuals and businesses that are working to advance the cannabis industry while also increasing its visibility on a global scale.
Read this in full at https://www.investorideas.com/news/2019/cannabis/12051MJBizConCannaBuzz.asp
When asked about how this year's event has evolved to differ from last year, Tess Woods from the MJBiz Team commented, “Each year we produce MJBizCon, it is important for us to highlight the advancements the industry has made. This year, we are launching the Investor Intelligence Conference and the MJBizDaily Awards. For the first time, we will also surpass 35,000 attendees from more than 70 countries.”
Woods also commented on the noticed trends and industry trajectory saying, “It’s clear if you look at market data and consumer behavior in medicinal and adult use markets that the industry has only begun to develop here in the United States and the globe. Our annual Marijuana Business Industry Factbook recently projected the enormous YOY growth rates for the next five years. I have no reason to believe those types of curves won’t continue to be seen far into the future.”
While the industry may have suffered somewhat from negative press and underwhelming financials, companies, investors and conference attendees have renewed optimism in the industry looking to 2020.
SinglePoint Inc. (OTCQB: SING) President Wil Ralston, one of the industry exhibitors said, "We are extremely bullish on the sale of our pre-rolled hemp. We are currently selling our 1606hemp.com and have completed our first large purchase from a distributor. Smokable hemp is one of the fastest growing segments in the industry and we are at the forefront of it. Being federally legal through the passing of the 2018 Farm Bill, we are able to ship nationwide through distributors, direct to store and direct to consumer."
SinglePoint recently released a recap of their successful 2019 and a look ahead to 2020 as the company comes off its largest 3rd quarter in history, exceeding $1,000,000 in revenue for the quarter. The company continues to see expanded growth in two major markets, Hemp and Solar and throughout Q4 and into 2020, SinglePoint will focus on growing these two market segments as demand increases for both. SinglePoint recently launched 1606 hemp which will have its major debut at the December 11-13, 2019 MJBIZCON where thousands will converge at the Las Vegas Convention Center to see the latest products in the industry. SinglePoint expects the sale of 1606 to be a large contributor in 2020 to overall company growth.
“We are excited for the launch of our 1606 Original Pre-rolled Hemp. We believe we can quickly scale the sales of this product via ecommerce and retail buyers. The Hemp Pre-rolls have a major profit margin which will support continued organic growth,” states Wil Ralston, President of SinglePoint.
1606 Original Hemp cigarettes are nicotine and tobacco free. Some research suggests that smoking hemp cigarettes could be a potential tool to replace tobacco and nicotine addictions.
According to a Brightfield Group survey of more than 5,000 CBD users in the US:
· 24% have used it to help quit smoking.
· Quitters are often replacing cigarettes with either smokable hemp or vaping.
· 41% of quitters have entirely replaced traditional smoking with hemp CBD.
According to a June 2019 market research report published by MarketsandMarkets™, the industrial hemp market is projected to grow from $4.6 billion in 2019 to $26.6 billion by 2025, recording a compound annual growth rate of 34.0% during the forecast period. The CBD market is on track to grow to $23.7 billion through 2023, according to Brightfield Group. The firm also estimated the smokable hemp market to be valued at $11.5 million in 2018, a growth of 250% from 2017.
“We have an exceptional strategic plan in making SinglePoint one of the biggest publicly traded companies in the Smokable hemp space. We believe we offer investors and our current shareholders tremendous value given our leadership position in several explosive markets including ecommerce, Hemp and Solar. As SinglePoint continues to grow revenue and profit we continue to strive for meeting the qualifications to apply for a listed exchange,” states Greg Lambrecht, SinglePoint CEO.
SinglePoint predicts growth in its markets will continue. Support for legalization passed recently when lawmakers in the House Judiciary Committee approved a Bill that stands to decriminalize marijuana at the federal level. The Marijuana Opportunity Reinvestment and Expungement Act of 2019 (the “MORE Act”) passed by a wide margin with bipartisan support. This bill will now head to Senate; this is just the first of many steps but as support continues, SinglePoint believes it will only continue to open up options for businesses to obtain legal payment processing accounts. SinglePoint is currently growing its portfolio of accounts and as soon as the company believes there is a viable, stable payments option it will be able to onboard additional clients.
As SinglePoint’s Hemp business continues to blossom, Direct Solar of America drives additional expansion. Direct Solar, a subsidiary of SinglePoint Inc. (SING), a leading residential and commercial solar brokerage, continues to exceed revenue growth targets and has been pivotal to improving the Company’s financials.
Direct Solar of America is filling a gap in the solar market by providing homeowners the knowledge and comfort throughout the solar purchasing cycle. There are many complexities when it comes to the purchases including tax credits, leasing vs. buying, installers among other decisions to make. Direct Solar separates itself by becoming experts in the intricacies of solar in each market. Direct Solar has surpassed over $900,000 in revenue in just six months of operations.
KushCo Holdings, Inc. (OTC: KSHB), the premier producer of ancillary products and services to the legal cannabis and CBD industries, will also be exhibiting at MJBizCon after having recently reported its financial results for its fiscal fourth quarter and full year ended August 31, 2019.
For the Fourth Quarter the company saw a net revenue increased 135% year-over-year to $47.0 million, a gross profit was 20.1%, compared to 18.1% in the prior year period on a GAAP basis and, excluding the impact of certain non-recurring items, gross profit was approximately 22.1% on a Non-GAAP basis.
For the Full Year the company saw a net revenue increased 186% year-over-year to a record $149.0 million, enabling the Company to achieve its previously issued guidance of between $145.0 million and $150.0 million, a gross profit was 16.5%, compared to 25.6% in the prior year on a GAAP basis and excluding the impact of certain non-recurring items, gross profit was approximately 21.3% on a Non-GAAP basis.
Some of the company’s recent operational highlights included significantly expanded CBD footprint with launch of new hemp trading business, named Sentia Wellness as first CBD brand partner under new Retail Services division, completed $30.1 million registered direct offering, providing additional capital to execute on the Company's growth strategy and help achieve positive adjusted EBITDA and entered exclusive distribution agreement with global anti-counterfeiting and authentication solutions provider De La Rue to authenticate products throughout the supply chain.
Nick Kovacevich, Co-founder, Chairman and Chief Executive Officer, commented: "Since we became a public company in 2016, we have more than doubled our annual revenue in each of the last four fiscal years, with revenue for fiscal 2019 increasing 186% year-over-year to a record $149.0 million, helping us achieve our guidance of between $145 million and $150 million in revenue. Substantially all of this robust growth was organic, driven primarily by our continued success in penetrating both new and existing markets and cross-selling deeper into our 6,000+ strong customer base with our significantly expanded offerings. Perhaps more importantly, we have supplemented this solid topline growth with increasing margins, as we have driven further improvements and efficiencies in our business. In fact, our gross margins have been increasing every quarter since we started fiscal 2019 from 13% in fiscal Q1 to 20% in fiscal Q4. Given that we are continuing to gain scale and efficiency in our core business, while launching and ramping up higher-margin service offerings, we expect to see continued gross margin enhancement in the near future.
"Over the past couple of months, KushCo and the entire regulated cannabis industry has been dealing with a vaping crisis that increasingly appears to be connected to counterfeited, adulterated, and untested vape products being sold in the black market, which we do not service. While we have been seeing a slight pullback in sales for the overall vape market, it's important to note that we service the entire regulated cannabis and CBD sector, and as a result, benefit from some consumers potentially shifting to other form factors, such as flower, edibles and pre-rolls. That being said, we believe there will be some topline softness in the first half of fiscal 2020 related to vape, as our customers have been more cautious with their spending and have been slowing down their vape purchasing activity to limit any potential inventory or regulatory risk should there be additional temporary state bans affecting vape product sales. Looking out to the second half of fiscal 2020, we expect orders for vape products to pick up again.
"Longer term, we believe this crisis will drive more consumers from the illicit market to the legal market and incentivize operators to upgrade to higher-quality, premium and tested products-both drivers that should help our business. However, we remain focused on gradually diversifying away from vape, which we have been communicating and executing on for the past several quarters, especially with the launch of newer and higher-margin initiatives, such as our retail services, our custom branded anti-counterfeiting and authentication labels, and most recently our hemp trading business. These offerings not only further diversify our business, adding incremental defensibility and sustainability, but also drive higher margins which help us achieve our primary goal of adjusted EBITDA profitability in the second half of fiscal 2020.
"KushCo is one of the few companies in the cannabis and CBD industries that has historically been profitable, and we believe we can achieve this status again, only now at a much higher level of scale, diversification, and customer and market penetration. Our strategy of achieving adjusted EBITDA profitability is centered around three main drivers: 1) continued topline growth in our core business; 2) the successful ramp up of our newer and higher-margin initiatives; and, 3) a healthy level of restructuring and cost-cutting to right-size the business, enhance margins, and improve cash flow. Already, we have made significant inroads across each profitability driver.
"Overall, fiscal 2019 was a major leap forward for KushCo, as we once again drove significant topline growth, enhanced our margins, expanded our offerings, and further penetrated our deep customer base. Now, with industry conditions becoming more challenging, we have our sights set on further expanding the business, but doing so in a more efficient and profitable manner. Our recent capital raise of $30.1 million, along with our revolving credit facility with Monroe Capital for up to $50 million, should give us enough sprint capacity to execute on this strategy, achieve our goal of becoming financially self-sufficient, and put ourselves in a much stronger position to power the global cannabis ecosystem. We believe this will ultimately drive the highest returns for our shareholders."
Looking forward KushCo expects annual net revenue for fiscal 2020 to be between $230 million and $250 million. Included in this financial guidance is the Company's expectation that net revenue from its newly launched hemp trading business will total at least $25 million for the fiscal year.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) who recently opened its flagship retail store in The West Edmonton Mall, the largest mall in North America, will also be exhibiting at MJBizCon this year.
The roughly 11,000-sq.-ft. Aurora’s flagship store will offer different products and events. The retail cannabis store will offer “a safe, age-gated retail experience in full compliance with all relevant federal and provincial regulations,” according to a company statement.
Designed by Bruce Mau Design and GMC Architects, the flagship store will host world-class researchers, creators and culture makers to lead sessions with artists, chefs, local innovators and experts in the emerging world of cannabis. The cannabis store will offer visitors access to over 42 different cannabis products from the Aurora family of brands.
“Aurora is proud to call Edmonton home. It’s here where we established our roots and built our business. There’s no better place for us to open the doors to our flagship store and to welcome consumers from all over the world to join us in celebrating how far the cannabis movement has come and how quickly it continues to grow,” Aurora CEO, Terry Booth stated.
The company also recently announced that one of its oil products has obtained approval for use under Ireland’s new Medical Cannabis Access Programme.
The company’s high CBD Oil Drops have been added to a regulatory schedule by the Irish Minister of Health, allowing the importation and prescribing of the oil. It's one of two products to receive such an approval, Aurora said.
Ireland’s Medical Cannabis Access Programme allows for a consultant to prescribe medical cannabis to patients suffering from spasticity related to multiple sclerosis, difficult nausea and vomiting connected to chemotherapy and severe refractory epilepsy. The program was approved in June by Irish Minister of Health, Simon Harris and is set to last for five years.
"Aurora is pleased to be able to assist patients who are seeking treatment with high quality EU-GMP (good manufacturing practice) certified pharmaceutical-grade medical cannabis in Ireland,” Dr. Shane Morris, Aurora's Chief Product Officer, said in a statement.
“We are very proud to be one of the first approved suppliers of medical cannabis under the MCAP. We want to acknowledge the efforts made by many people, especially the patients and doctors who have campaigned for access to these medicines."
Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States, will also be attending this year’s MJBIzCon after having recently announced that CEO Kim Rivers was featured on a presenting panel Multi-State Operators take on Medicinal Cannabis speaking with other leading cannabis executives in the healthcare sector at Piper Jaffray's 31st Annual Healthcare Conference on December 3rd, 2019.
Ms. Rivers is scheduled to speak on the Licensing: Ins and Outs – Ensuring Continued Compliance in a Changing Regulatory Landscape panel at the MJBiz Conference at 10:30 a.m. PST on Thursday, December 12th, 2019 in Las Vegas.
CEO Kim Rivers was also recently among the 50 most influential women to be recognized across the cannabis industry at the High Times Female 50.
Trulieve Cannabis Corp., like many of the other above listed exhibitors also released its financial results for the third quarter of 2019 ended September 30, 2019.
"Our third quarter results reflect our continued customer loyalty, growth, and leadership position. Trulieve's strong brand, wide-ranging access to stores, and authentic customer experience have resonated with our customers and patients," stated Kim Rivers, Trulieve CEO. "The third quarter was also successful in further strengthening our position in our existing markets as well as preparing for new market entry. We continue to build operational efficiencies and financial discipline to ensure a solid foundation, cash reserves, and the right tools at our disposal to expand our footprint. Looking ahead, this is an exciting time as we execute on our strategic vision to be one of the top performing cannabis companies in North America."
This year’s MJBizCon kicks off next week on December 11th and it seems many of the exhibitors are looking to use this event, filled with industry professionals and investors, to help reinvigorate the industry and update the cannabis market on their recent developments. Reflecting, 2019 may not have been all we hoped for when looking at the hemp and cannabis sector but it seems 2020 is inciting many companies to be optimistic as we start to see real revenue generation and an improved regulatory environment.
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Wednesday, December 4, 2019
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