Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 451 (CSE: $GTII.C) (CSE: $TGIF.C) (TSXV: $EVE.V) (CSE: $ISH.C)
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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 company announcements.
Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, and Cookies, a leading North American cannabis lifestyle brand, today announced an exclusive partnership to open Cookies on the Strip in Las Vegas, the first Cookies store in Nevada. Cookies on the Strip will sell the acclaimed portfolio of Cookies, Lemonnade, Runtz, Minntz, Collins Ave, Run The Jewels and Grandiflora products in the brand’s signature retail environment and is expected to open in the first quarter 2021, subject to customary regulatory approvals.
Based in the Bay Area, Cookies' Founder and CEO Berner is a prolific rapper and entrepreneur along with his partner, Jai, a highly respected cannabis cultivator and breeder.
"We have been working on Las Vegas for a very long time and we wanted to do it right which is why we chose to partner with Green Thumb,” said Cookies Founder and Chief Executive Officer Berner. “Everybody comes to Vegas, whether it be for a wedding, bachelor or bachelorette party, birthday, anniversary or just to celebrate in general. Vegas has always focused on spoiling the visitor with five-star restaurants, hotels and entertainment. With a store right on the Strip and our cultivation partners dialed in, as well as an exclusive five-star menu dedicated just to the Nevada market, we are more than ready for Vegas. It won’t be hard to find us either, we have a very special design for our store."
The Essence and Rise™ retail locations in Las Vegas, Henderson, Spanish Springs and Carson City will also offer Cookies products including popular favorites such as London Pound Cake 75, Gary Payton and Cereal Milk.
Green Thumb Founder and Chief Executive Officer Ben Kovler said: “We have long believed that cannabis brands that offer a consistent and authentic customer experience is key to winning in the industry – and Berner has created a phenomenal brand with a loyal following. This partnership allows us to explore bringing the unique Cookies experience to market in a must-visit destination for Las Vegas visitors and residents.”
The Essence store located at 2308 South Las Vegas Boulevard will be rebranded to Cookies on the Strip. The store will remain open during the transition. Green Thumb currently owns and operates seven stores in the state, five of which are in the Las Vegas area, and manufactures and distributes its branded products including Cannabiotix, Dogwalkers, incredibles and Rythm in Nevada. The company has licenses to open six more retail stores in the state.
“Las Vegas remains an exciting growth opportunity for our business with ongoing strong demand for cannabis products,” Kovler noted. “This is a unique opportunity to collaborate with Berner and his visionary team in one of the most popular tourist spots in the world.”
1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF), a vertically-integrated cannabis consumer packaged goods company, announced the addition of top brand Five Star Extracts to its select roster of licensed partners in Nevada. The Company's subsidiary, Alternative Medicine Association LC ("AMA"), signed a licensing agreement with California-based Five Star Group, LLC, ("Five Star Extracts" or "Five Star") for the cultivation, manufacture and sale of Five Star Extracts branded products in Nevada for a one-year term.
The Company's newest partnership reaffirms AMA's position as a top producer of cannabis concentrates in Nevada. AMA's expertise in the field has been developed over several years as one of the first cultivation and production licensees in the state. AMA will manufacture Five Star products, including its exclusive flavored Double Shot line and flavored cannabis tinctures. Under the licensing agreement, AMA will manufacture, distribute and sell the licensed products, ensuring compliance with Nevada regulations as well as third-party laboratory testing and certification. The licensed products have already received the approval from the newly formed State of Nevada Cannabis Compliance Board (CCB).
Five Star Extracts are some of the highest quality THC products in the market. Five Star follows strict proprietary extraction procedures to achieve clarity and potency for a smooth cannabis product that stands above the rest. "We are excited to work with a team who shares the same high standards, passion and pride for crafting top quality cannabis products," stated Mr. Jordan Stroum, Director of Sales for 1933 Industries' brands and brand partners. "Five Star brings a differentiated approach to their product offerings with an innovative suite of products that are easy to consume, discreet and can be taken on the go.
The Double Shot line is a fast-acting beverage containing 20mg of THC in a variety of flavors and their cannabis-infused tincture beverage enhancers with mix and match flavours are unique to our brand offerings. We are excited to assist Five Star grow its brand in Nevada."
Mr. Jason Winkler, CEO & Co-Founder of Five Star Extracts, stated, "Five Star is very excited to expand the brands footprint in additional states with trusted and like-minded partners such as 1933. We are looking forward to having our Five Star quality product lineup and executing the same marketing initiatives we pride ourselves on within Nevada."
Eve & Co Incorporated (TSXV: EVE) (OTCQX: EEVVF) announced that its wholly-owned subsidiary, Natural MedCo Ltd., has signed a supply agreement with Colio Estate Wines, one of Canada’s leading wineries and the company behind the top-selling domestic flavoured wine beverage brand, Girls’ Night Out1 on August 5, 2020.
The supply agreement contemplates developing a premium cannabis-infused wine-based beverage for distribution by Eve & Co and licensing for the Girls’ Night Out brand. The term of the license agreement is for an initial three-year period with a two-year option in favour of NMC and contemplates licensing royalties for the cannabis-infused beverage to enter the adult-use market in 2020.
“We are very excited to be working with Colio and the tremendous team behind the Girls’ Night Out brand. The combination of Colio’s expertise with our high-quality cannabis extract allows us to provide consumers with a new cannabis-infused beverage which aligns very well with our female-oriented vision,” said Melinda Rombouts, President and Chief Executive Officer of Eve & Co.
Jim Clark, President and CEO of Colio noted that “Colio is delighted to be working with Eve & Co to produce a new cannabis-infused beverage that builds on the success of the Girls’ Night Out brand at satisfying the tastes and palates of female wine aficionados or connoisseurs.
Inner Spirit Holdings Ltd. (CSE: ISH), a Canadian company that has established a national network of Spiritleaf retail cannabis stores, today announced additional Spiritleaf store openings and the continued expansion of its retail cannabis store network in Alberta and Ontario. The Company also announced it has surpassed the one million customers served milestone for 2020 during the month of July. It recorded its highest-ever monthly customer count in July as well with 205,000 guests served.
"We're very pleased to continue our expansion of the Spiritleaf brand into additional communities. We have aggressive growth plans and we're staying focused on adding outlets to serve more Canadians. We have numerous franchise partners either working through licensing or constructing their stores at this time. Our franchise model is extremely effective as we partner with local entrepreneurs and enable them to invest their capital, share their passion and knowledge of cannabis with customers, and contribute to the success of the Spiritleaf brand. We're proud of every single customer we've served this year as that reflects the care and the attention we bring to the shopping experience at our stores for new visitors as well as our loyal repeat customers," said Darren Bondar, President and CEO of Inner Spirit.
The Company celebrated the opening of its 55th Spiritleaf location on July 24 with a franchised store in Calgary, Alberta's Southland community located at the Brick Plaza on Macleod Trail. The Company has a franchise location in Fish Creek Village in Calgary fully built and awaiting final licensing and has conditionally secured five additional franchise locations in Calgary and two additional corporate store locations in Edmonton in anticipation of the Alberta Gaming, Liquor & Cannabis increasing the licensing cap to over 45 permitted stores per operator this fall.
In Ontario, Spiritleaf franchised stores opened in the suburban community of Stittsville near Ottawa on July 25 and in London's Masonville neighbourhood on July 27. A corporate-owned store in Nepean just south of Ottawa opened on July 29 bringing the total number of Spiritleaf stores operating to 58. These stores follow on Spiritleaf stores in Toronto, Ottawa, Guelph and Kingston. In total, the Company has nine Spiritleaf stores serving customers in Canada's most populous province and an additional 17 locations under various phases of development.
Additional store locations have been conditionally secured in British Columbia, Saskatchewan, Manitoba, and Newfoundland and Labrador helping to solidify Spiritleaf as Canada's only coast-to-coast retailer. Please visit www.spiritleaf.ca for information on store opening times and operating hours.
Due to the COVID-19 pandemic, all Spiritleaf stores are operating with enhanced customer service processes to ensure the safety of employees and customers. Spiritleaf's Select & Collect service enables customers to pre-shop and order online prior to pick-up. Customers can also connect with their local Spiritleaf store through the Spiritleaf Collective customer benefits program to further streamline and individualize the shopping experience. The fast-growing Collective program now has over 85,000 members.
To acknowledge the support from these members, the Company has been running a virtual Spirit Bus Tour across Canada this summer to spread peace, love and harmony. The tour is making "stops" at each Spiritleaf store where Spiritleaf Collective members can access exclusive promotions and special edition festival swag. Bus tickets are available in-store or by email or text for Collective members and no purchase is required. Please visit www.spiritbustour.ca for tour dates and details.
An updated version of the Company's investor presentation as well as a video interview with CEO Darren Bondar on BNN Bloomberg have been added to www.innerspiritholdings.com/invest/. The Company expects to file its Financial Statements and Management's Discussion and Analysis for the quarter ended June 30, 2020 on or about August 24, 2020.
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