Wednesday, November 30, 2022
Psychedelic Stock News - Red Light Holland (CSE: TRIP) Reports Second Quarter 2023 Financial Results
Psychedelic Stock News - Red Light Holland (CSE: TRIP) Reports Second Quarter 2023 Financial Results
Investor Ideas #Potcasts 639, #Cannabis News and #Stocks on the Move- (CSE: $IWIN.C), (OTCQB: $XBRAF), (NASDAQ: $VLNS), (CSE: $RIV.C), (Nasdaq: $HITI)
Investor Ideas #Potcasts 639, #Cannabis News and #Stocks on the Move- (CSE: $IWIN.C), (OTCQB: $XBRAF), (NASDAQ: $VLNS), (CSE: $RIV.C), (Nasdaq: $HITI)
Vancouver, Delta, Kelowna, BC, November 30, 2022 (Investorideas.com Newswire), investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2022/113022-StocksToWatch.mp3
Read this in full at https://www.investorideas.com/news/2022/cannabis-potcasts/11301IWIN-XBRAF-VLNS-RIV-HITI.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
Today’s podcast overview/transcript:
In today’s podcast we look at a few public company announcements covering areas such as membership programs, beverages, Canadian LP’s and Psychedelics.
High Tide Inc. (Nasdaq: HITI) (TSXV: HITI) announced the launch of Cabana Elite, an optional paid membership upgrade for Cabana Club members. Starting today, customers can sign up for ELITE in-store and online at www.cannacabana.com. The Company expects that ELITE will extend the Cabana Club membership program, attract new customers and instil even greater customer loyalty. The Company anticipates that further discounts, benefits and promotions will be regularly added to ELITE.
"I am delighted to finally announce the launch of ELITE, the next evolution in our innovative discount club model and a huge milestone for High Tide. The continuous innovation from our team has positioned us as a top-performing Canadian cannabis company, and ELITE is the natural result of this success. By leveraging the strengths of our diversified cannabis ecosystem, we are providing additional value to ELITE members by offering discounts on High Tide's global online consumption accessories platforms. We see this as a big step towards building our loyalty program into a global cannabis community as we continue to convert price-conscious consumers from the illicit market into our legal cannabis ecosystem," said Raj Grover, President and Chief Executive Officer of High Tide.
"Our goal is to sign up as many Cabana Club members to ELITE as possible within the first year, following which we anticipate an even greater financial impact in subsequent years. During these inflationary times, we decided to offer the ELITE membership at a 50% discount for a limited time to allow our customers to try out the new program at a minimum cost. Once our customers see what ELITE has to offer, we anticipate they will look to maintain their status in subsequent years. Launching ELITE was not an easy task, given the varied regulatory landscape in the Canadian provinces where we operate. Our team has been working hard on this project for many months, and I want to take this opportunity to extend my sincere gratitude to our team members and provincial regulators, who helped us get to this pivotal day. We are confident ELITE will generate excellent returns for our shareholders, who can rely on High Tide for continued innovation and execution," added Mr. Grover.
RIV Capital Inc. (CSE: RIV) (OTC: CNPOF), an acquisition and investment firm with a focus on building a leading multistate platform with one of the strongest portfolios of brands in key strategic U.S. markets, today released its financial results for the three and six months ended September 30, 2022 ("FQ2 2023").
FQ2 2023 Highlights
● Received New York State Cannabis Control Board ("CCB") and New York State Office of Cannabis Management ("OCM") approval for Etain, LLC's change of control request, clearing the path for the Company to complete the final closing of the previously announced acquisition of ownership and control of Etain IP LLC and Etain, LLC (collectively, "Etain") (the "Etain Acquisition")
● Entered into a lease agreement with Zephyr, a leading California-based developer, for the development and operation of a planned new flagship cannabis cultivation and manufacturing facility in Buffalo, New York
● $165 million of cash on-hand to, among other things, support the completion of the Etain Acquisition, the expansion and development of Etain's cultivation and processing facilities, and to pursue new growth opportunities
● Reported a net loss of $142.3 million, including a goodwill impairment charge of $138.9 million related to the Etain Acquisition
"Having cleared all regulatory hurdles, we are eager to complete the final closing of the Etain Acquisition before the end of 2022, establishing RIV Capital as a strongly positioned, vertically integrated cannabis operator in New York," said Mark Sims, President and CEO of RIV Capital. "With the long-awaited drafts of New York cannabis market regulations approved for publication last week, we are looking forward to continuing to work with the State to help create an efficient market where registered organisations can operate effectively. We intend to provide our feedback during the public review period and continue to work with the regulators to support the creation of rules that are mutually beneficial for all stakeholders."
"The draft regulations further support our thesis that there will be a robust wholesale market in New York, where the most successful companies will be those that can build the strongest brands. New York continues to offer us the best platform to launch our brand-focused strategy, and our expanding cultivation footprint designed to support the premium New York market provides RIV Capital with attractive wholesale opportunities."
Eddie Lucarelli, Chief Financial Officer of RIV Capital, added, "In this environment where access to capital and liquidity continues to be challenging for many cannabis companies, we believe we remain well positioned with a strong balance sheet to execute our expansion strategy in New York and simultaneously evaluate other growth and capital allocation opportunities."
The Valens Company Inc. (TSX: VLNS) (NASDAQ: VLNS) announced that its shareholders have voted in favour of the resolution approving the plan of arrangement pursuant to which SNDL Inc. will acquire all of the issued and outstanding common shares of Valens on the basis of 0.3334 of a SNDL common share for each outstanding Valens common share, on and subject to the terms of the arrangement agreement dated August 22, 2022 to which Valens and SNDL are parties. Over 96% of votes cast at the Company's special meeting of shareholders held on November 29, 2022 were in favour of the Resolution.
"With this announcement, we are one step closer to combining two best-in-class cannabis companies that have extremely complementary assets to create a true market leader. This pro forma company will create Canada's first large vertically integrated cannabis company that unites SNDL's exceptional balance sheet and largest cannabis retail network in Canada with Valens' low-cost manufacturing platform. We look forward to taking Valens' brands to new heights and unlocking 2.0 products for the SNDL platform," said Tyler Robson, Chief Executive Officer of The Valens Company. "We believe the pro forma company provides investors with attractive exposure not only to the highest revenue generating cannabis company in Canada trading well under its tangible book value but also a dominant platform that can become a global leader in cannabis."
Xebra Brands Ltd. (CSE: XBRA) (OTCQB: XBRAF) announced that its cannabis infused beverage Vicious Citrus OG, is a top performer, based on multiple metrics, in Ontario, Canada's largest Cannabis market where more than 1,300 cannabis retailers are based.
OG is the first launch of several non-carbonated lemonade products under the Vicious Citrus brand. OG, which stands for "Original", is differentiated by its non-carbonated profile and the addition of CBN, a unique cannabinoid that works synergistically with THC, to enhance the overall effect.
Vicious Citrus OG launched in Ontario in August 2022, and in only approximately 10 weeks, is the best-selling non-carbonated lemonade, the best-selling lemonade, the fastest growing lemonade in sales, in the top 20% of all cannabis beverage SKU's sold in Ontario, and in the top 1/3 of all cannabis beverage brands based on sales.
Vicious Citrus OG is also retailing in Saskatchewan, and is expected to be available soon in British Columbia, Alberta and Manitoba.
"Vicious Citrus OG is off to a strong start in Canada," said Jay Garnett, CEO of Xebra Brands, "Budtender and consumer feedback has been exceptionally positive, and we are confident the brand will continue to grow in current markets as well as expand into new ones."
Xebra management is considering introducing the Vicious Citrus brand outside Canada and is taking steps to assess opportunities.
Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) announced today that it reached a binding, arms-length, agreement to acquire Serenity Health, LLC in Louisville, Kentucky, on November 25, 2022. The move continues Irwin’s national ketamine clinic rollup strategy that has seen the Company move quickly toward its goal of building Irwin Naturals Emergence into the world’s largest chain of psychedelic mental health clinics. Irwin Naturals was founded in 1994, building itself into a nationally renowned company with its first-in-class line of nutraceuticals that are available in more than 100,000 stores across North America. The Irwin Naturals brand is recognized in 80 percent of American households.
Klee Irwin, CEO of Irwin Naturals, said, “With each clinic we bring under the umbrella of Irwin Naturals Emergence, we take another step toward the forefront of this new approach to mental healthcare. We are the world’s first household name to enter the space and are moving fast with the goal of being the first mover in this market.”
Irwin Naturals Emergence already includes clinics in Florida, Vermont, New Hampshire, Iowa, and Georgia. Currently, ketamine is the only psychedelic available for use in the United States outside of clinical trials when used as prescribed. However, MDMA and psilocybin may be authorised for therapeutic use in the future. This creates the possibility of radically changing the way we treat mental-health concerns.
Beth Ann Nevius, co-founder and CEO of Serenity Health, said, “What impressed us about Irwin’s approach to America’s mental health crisis is its philosophy of using national scale to drive down patient costs. Furthermore, the Irwin team has proven itself capable of building a national brand with an exceptionally faithful customer base. We are looking forward to becoming part of the Irwin team and taking this great brand nationwide, making mental healthcare accessible to all.”
Irwin Naturals Emergence is a wholly owned subsidiary of Irwin Naturals, and it was formed when the Company decided to enter the fast-growing sector of psychedelic mental healthcare. Over the past year, Irwin Naturals Emergence has identified ketamine clinics that practise a high standard of care to explore the possibility of adding these clinics to the national chain. This offers the possibility of increased economic efficiency because of the national scale of the operation that could help drive down operating costs, making it possible to pass savings along to the consumer in the form of sliding-scale discounts and even pro-bono treatments for those in need. Irwin Naturals’ name and reputation makes it an impactful voice in this new area of mental healthcare due to the Company’s history in safely caring for the health of its patients vouching for the safety and the efficacy of psychedelic treatment.
Irwin added, “We see ourselves as the Coca Cola first mover, and will be leveraging our brand equity and status as a cult brand to expand rapidly as society embraces the psychedelic mental health revolution. This is important because, as a psychedelic, ketamine is an effective treatment for many mental health disorders. However, some Americans are not clear on its potential. The trusted Irwin brand will be the welcome face of a familiar friend in a crowd of strangers – making this life-saving solution a bit less intimidating to those in need.”
The Agreement is subject to certain customary closing conditions and regulatory approvals. The total consideration will be paid in upfront and deferred consideration. Also included are contingent payments based on milestones related to expansion and profitability goals.
Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment.
To hear more Investorideas.com podcasts visit: https://www.investorideas.com/Audio/.
The Investorideas.com podcasts are also available on iTunes ( Apple Podcasts) , Audible , Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio , Google Podcasts and most audio platforms available.
About Investorideas.com - Big Investing Ideas
We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders. Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast , Cleantech and Climate Change Podcast, Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast. We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: GTCH is a paid featured Ai stock .More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Contact Investorideas.com
800 665 0411
Monday, November 28, 2022
Wednesday, November 23, 2022
Thursday, November 17, 2022
Subscribe to:
Posts (Atom)