Tuesday, March 2, 2021

Investor Ideas #Potcasts 537, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NASDAQ: $CGC) (TSXV: $NRTH.V) (TSXV: $HITI.V) (CSE: $AUSA.C) (CSE: $CHOO.C)

 


 

Investor Ideas #Potcasts 537, #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NASDAQ: $CGC) (TSXV: $NRTH.V) (TSXV: $HITI.V) (CSE: $AUSA.C) (CSE: $CHOO.C)

 

 

Delta, Kelowna, BC, March 2,  2021(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:

https://www.investorideas.com/Audio/Podcasts/2021/030221-StocksToWatch.mp3

 

Read this in full at https://www.investorideas.com/news/2021/cannabis-potcasts/03021WEED-CGC-NRTH-HITI-AUSA-CHOO.asp

 

Hear the investor ideas potcast on Spotify

 

Hear Investor ideas cannabis potcast on iTunes  

 

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.

 

48North Cannabis Corp. (TSXV: NRTH), a vertically integrated Licensed Producer focused on manufacturing high-quality cannabis products, building progressive and thought-provoking brands, and low-cost cultivation, has released its financial and operating results for the second quarter ended December 31, 2020. The Company's financial statements and related management discussion and analysis for the period are available on the Company's SEDAR profile at www.sedar.com and on the Company's website at www.48nrth.com/investors.

 

Financial and Operating Highlights for Fiscal Q2 2021

       Quarterly revenue of $7.6 million, representing a 346 per cent year-over-year increase over second quarter 2020 revenues of $1.7 million and a 11.7 per cent increase over first quarter 2021 revenues of $6.8 million.

       The Company improved its cash use in operating activities by 46 per cent from $5.7 million in Q1 2021 to $3.1 million in Q2 2021. Having made early investments in a state-of-the-art manufacturing, processing, and packaging facility, Good:House, 48North expects to continue to improve its cash use. This reduced cash burn well-positions the Company for sustainable growth and puts 48North on a clear trajectory to near-term profitability.

       Adjusted EBITDA1 for the quarter was $(2.9) million compared to $(4.7) million in Q2 2020, an improvement of 38.3 per cent.

       At the end of Q2, 48North had $4.1 million in cash and cash equivalents.

       48North closed its private placement offering with Cormark Securities Inc. ("Cormark"), to offer for sale 22,767,000 units of the Company at a price of $0.15 per unit for aggregate gross proceeds of $3,415,050. Cormark exercised its over-allotment option with respect to 2,767,000 Units for additional gross proceeds of $415,050.

       In addition, the Company announced that it had entered into a term loan with a senior secured lender for gross proceeds of $3.25 million.

       48North announced that Health Canada had granted the Company the required license for its state-of-the-art drying facility at Good:Farm and completed the Company's second annual harvest successfully.

       The Company launched Latitude, a brand with products ranging from sexual wellness, to beauty and beyond. Since launching, the brand has launched a number of innovative products, all in high-demand from both retailers and consumers.

       Looking ahead, 48North expects to redouble its commitment to high-quality products that delight the consumer as strengthened production and manufacturing capabilities continue to support revenue increases.

 

"48North's Q2 Fiscal 2021 results provide us with another strong demonstration that our strategy is working. The Company was successful in driving an increase in revenue while dramatically decreasing its cash burn. Looking ahead, there are additional efficiencies to leverage and significant organic growth opportunities to be capitalized upon, including increasing the reach of the Company's newest brands Trail Mix and Latitude, introducing new product formats, and maximizing retail penetration," said Charles Vennat, CEO of 48North.

 

"As a brand-led, consumer obsessed cannabis producer, 48North has never lost sight of the big picture. Our strategy of putting consumers first, working hand in glove with wholesalers and retailers to commercialize our products, and investing in a leading supply chain that is flexible to evolving market conditions has positioned us for continued success," continue Charles.

 

"The plan is simple: drive revenue for our products and significantly lower fixed costs. We expect our focus on increased margins, stronger cash flows, and shortening our cash conversion cycle to generate lasting shareholder value. We continue to expand our product pipeline with well-defined and trusted brands, and we are staying on our path to profitability by doing what we do best: bringing flower to the people," finished Charles.

 

High Tide Inc. (TSXV: HITI) (OTCQB: HITIF), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, filed its year-end 2020 financial results on March 1, 2021, the highlights of which are included in this news release. The full set of Consolidated Financial Statements and Management's Discussion and Analysis can be viewed by visiting High Tide's website at www.hightideinc.com, its profile page on SEDAR at www.sedar.com.

The Company will host a conference call to discuss results at 8:30 am Eastern time on March 2, 2021.

 

2020 Fiscal Year – Financial Highlights:

       Revenue increased by 118% to $24.9 million in the fourth quarter of 2020 and by 166% to $83.3 million for the year ended October 31, 2020. Note that the quarter does not include any contribution from META Growth Corp., the acquisition of which closed subsequent to the end of the quarter.

       Gross profit increased by 112% to $8.7 million in the fourth quarter of 2020 and by 172% to $30.8 million for the year ended October 31, 2020.

       Gross profit margin in the fourth quarter was 35%(*) and 37% for the fiscal year ended October 31, 2020.

       Adjusted EBITDA(1) for the fourth quarter was $3.6 million and $8.0 million for the year ended October 31, 2020.

       Geographically in the fourth quarter of 2020, $20.6 million of revenue was earned in Canada, $4.1 million in the United States and $0.2 million internationally. For the year ended October 31, 2020, $68.4 million of revenue was earned in Canada, $14.3 million in the United States and $0.6 million internationally.

       Segment-wise in the fourth quarter of 2020, $22.6 million of revenue was generated by Retail, $2.2 million by Wholesale, and an immaterial amount by Corporate. For the year ended October 31, 2020, $75.0 million of revenue was generated by Retail, $7.9 million by Wholesale and $0.4 million by Corporate, which compares to $24 million, $6.69 million, and $0.6 million, respectively, for the previous year.

       Cash on hand as at October 31, 2020 totaled $7.5 million. The Company's cash balance has subsequently increased to approximately $38 million as of today.

 

"Despite the global slump in retail sales associated with the pandemic, and thanks to the tireless efforts of our team, we closed the year with approximately $8 million in Adjusted EBITDA making 2020 the best year in High Tide's history," said Raj Grover, President and Chief Executive Officer. "We continued to run our operations tightly, ending the year off with the record levels of revenue and Adjusted EBITDA.  We are excited about our trajectory in the United States and continue to prioritize and look for opportunities in that market. Our integrated value chain which includes Cannabis Bricks & Mortar stores, e-commerce platforms for consumption accessories and hemp derived CBD products, along with manufacturing and distribution of licensed and proprietary consumption accessories, experienced sizeable growth on all fronts. We plan to continue to further strengthen our chain through organic growth and strategic acquisitions creating even more value for our shareholders.  Since the end of the fiscal year, we have already nearly doubled our size in Canada with the closing of the META Growth acquisition. For the fiscal first quarter of 2021 we expect to report revenue in the range of $37 million to $38 million," added Mr. Grover.

 

 

Australis Capital Inc. (CSE: AUSA) (OTC: AUSAFtoday announced that the Company has filed its financials and management discussion and analysis for the third quarter of fiscal 2021, the period ending December 31, 2020.

 

On November 17, 2020, an overwhelming majority of attending shareholders voted to support the new leadership team that was proposed by a group of concerned shareholders. Consequently, Dr. Duke Fu, Dr. Jason Dyck, Mr. Avi Geller, Mr. Hanoz Kapadia and Mr. John Esteireiro were elected as Directors of the Company. Dr. Duke Fu also was appointed as Interim CEO of the Company.

 

The period under review, Fiscal Q3 2021, relates to the period ended December 31, 2020. Results reported therefore relate predominantly to the legacy business and do not include any financials related to the proposed ALPS and Green Therapeutics LLC ("GT" or "Green Therapeutics") acquisitions (see press releases dated January 5, 2021, February 9, 2021 and February 24, 2021).

 

Dr. Duke Fu, Interim CEO, commented, "We are delivering on the promises made to our shareholders when the new leadership team took over. We are executing at a very high pace, with two proposed acquisitions announced and moving towards completion, a completely new leadership team installed, ALPS firing on all cylinders with over $5 million in contracts signed in the past six weeks, and the team is progressing on further potential partnerships, transactions and strategic revenue enhancing initiatives. Consequently, we are exceptionally well positioned to leverage our assets and execute on our unique expansion strategy to transform AUSA into a meaningful, national MSO."

 

Jon Paul, CFO, added, "The Company's third quarter results were impacted by a number of non-cash impairment charges against legacy assets and operations, as well as one off charges related to the recent proxy battle and the resulting reorganization of the Company's board and management. Without these extraordinary expenses, net loss would have been limited to $2.3 million. The cash burn from operations during the quarter of $2.7 million was consistent with the first half of fiscal 2021. As we wrap up the restructuring of the legacy operations, we have a cleaner slate for focusing on the ALPS, GT and other potential acquisitions and partnerships as we scale our business."

 

Mr. Paul added, "Going forward into fiscal Q4, we anticipate a number of material events to boost our results. We expect to close on the ALPS transaction in early March, which is anticipated to bring a significant boost to revenues, even with less than one month left in the quarter. The full revenue impact from ALPS will be felt the following quarter, Q1 of fiscal 2022. Our investments in BAMM and Quality Green, as of today, are up by approximately $7.0 million. The sale of land held in North Las Vegas is expected to bring approximately $1.9 million cash when the land sale closes at the end of March."

 

Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF), a fast-expanding retail cannabis company announced its report of its financial and operating results for Q2 2021, ending December 31, 2020.

 

Q2 Financial Highlights:

      Q2 2021 revenue of $6.1M

      Increase of $4.7M and 350% over Q2 2020 revenue of $1.4M

      Q2 2021 Gross Margin of 36.37%

      Increase of 8.45% over Q2 2020 gross margin of 27.92%

      Q2 2021 General and Administrative of $0.9M or 14.09% of revenue

      Versus $1.3M or 95.25% of revenue Q2 2020

      Q2 2021 Salary and Wages of $1.1M or 18.22% of revenue

      Versus $0.7M or 49.41% of revenue Q2 2020

      Q2 2021 Adjusted EBITDA1 of $0.2M or 2.90% of revenue

      Versus -$1.8M or -135.86% of revenue Q2 2020

 

“Coming off the busy Q1 summer season, traditionally the highest grossing period for cannabis retail, we were happy to see such strong results for the second quarter” says Choom CEO, Corey Gillon “We continue to execute on our mission of providing the best retail cannabis experience across every market we serve”.

 

Sundial Growers (NASDAQ: SNDLannounced today that it will release its financial results for the full year and fourth quarter ended December 31, 2020 after market close on March 17, 2021.

 

Following the release of its full year and fourth quarter financial results, Sundial will host a conference call and webcast at 10:30 a.m. EST (8:30 a.m. MST) on March 18, 2021.

 

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and vaporization device company, has entered the high-potential U.S. CBD beverage category with the launch of Quatreau, a premium ready-to-drink CBD-infused sparkling water. The stateside launch follows the successful 2020 rollout of Canopy Growth's CBD-infused beverages in Canada, where Quatreau is now the top-selling ready-to-drink CBD beverage.

Quatreau sparkling water contains 20 mg of premium, U.S. grown hemp-based CBD and one of four refreshing flavors. With an MSRP of $3.99 per 12-ounce can, Quatreau is a functional zero-sugar drink that delivers a natural, low calorie beverage alternative at an accessible price point.

Product SKUs available at launch will include:

       Quatreau CBD-infused Sparkling Water in Cucumber + Mint

       Quatreau CBD-infused Sparkling Water in Passionfruit + Guava

       Quatreau CBD-infused Sparkling Water in Ginger + Lime

       Quatreau CBD-infused Sparkling Water in Blueberry + Acai

 

"We have proven our beverage strategy in Canada, where we are currently the market share leader in CBD-infused ready-to-drink beverages, said Canopy Growth President and Chief Product Officer Rade Kovacevic. "Beverages are fueling growth in the CBD category and we believe this product will resonate with U.S. consumers looking for a naturally flavored, zero sugar option."

The launch of Quatreau in America coincides with an astrological event known as the Age of Aquarius – the zodiac's water bearer, which brings us to the cusp of a brand-new age. To celebrate this serendipitous event, Quatreau has partnered with iconic celebrity astrologist Susan Miller of Astrology Zone on a digital and social campaign.

"Astrology has made a major pop culture comeback as people turn to the stars for guidance during what has been an unsettling, uncertain, and stressful time for many," said Canopy Growth Vice President of Beverages Tara Rozalowsky. "With this campaign, we're highlighting the role functional ingredients like CBD can play in helping people manage their stress, find moments of calm and prioritize wellness during this once-in-a-lifetime transitional period."

This also follows the recent news from Seth Rogen’s brand Houseplant, part of the Canopy Growth Portfolio, will be coming to California in the next week. Shortly after delivering the news Houseplant’s website was overwhelmed and crashed.

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.

 

Learn more about our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp

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Breaking #CBD/#FunctionalMushroom #Stock news - Link Reservations Inc/LinkResPet (OTC: $LRSV) - Global Demand for Functional #Mushrooms is On the Rise; Ready to Capitalize on Growing Demand; @res_pet

 

Breaking #CBD/#FunctionalMushroom #Stock news - Link Reservations Inc/LinkResPet (OTC: $LRSV) - Global Demand for Functional #Mushrooms is On the Rise; Ready to Capitalize on Growing Demand; @res_pet

 


London, UK – March 2, 2021 - Brea
king CBD/functional mushroom stock news from Investorideas.com Newswire- Link Reservations Inc. (OTC: LRSVLondon, United Kingdom-- Functional mushrooms have become one of the top health and wellness stories of 2021. Used in a variety of health and wellness products, as well as pharmacological ones, functional mushrooms have seen an increase in demand due to their wide-range benefits, from boosting the immune system to providing a healthier dietary option. Understandably the increase in interest has kickstarted new opportunities in the wellness market, which LinkReservations Inc. (OTC PINK: LRSV) is poised to capitalise on.

 

Read this news, featuring LRSV in full at https://www.investorideas.com/news/2021/cannabis/03021LRSV-Functional-Mushrooms.asp

 

As a provider of wellness and cannabidiol (CBD) products for both humans and pets, Link Reservations Inc. has taken the step to expand its DailyLifeCBD product line to include a suite of functional mushroom-infused products. Starting with an assortment of non-edible lifestyle products, LRSV is looking to grow the range as the site and demand increases - adding specific products based on the plethora of benefits and varieties available.

 

After all, the benefits of the different mushroom varieties are wide-ranging. For example, some specific types of mushrooms have been shown to help increase mental clarity and assist with immune support. According to Mordor Intelligence, "A number of scientific studies have confirmed the ability of functional mushrooms and mushroom-derived supplements to increase the effectiveness of both innate and adaptive immune systems. The market is expected to experience huge demand for Reishi and Cordyceps, followed by the other types of medicinal mushrooms."

 

Another example is the Lion's Mane variety, which has shown to be "good for the brain", as reported by The New York Times, as "a study published in 2011 showed the mushroom reduced memory loss symptoms in mice," adding that in one study in older people "found that daily lion's mane supplements improved their mental functioning". Mushrooms in general have proved to have benefits for our immune system, according to dietitian Ryanne Lachman, as quoted by the Cleveland Clinic. "A big one tends to be with reducing inflammation. Mushrooms also contain antioxidants, which can help support the immune system".

 

Read the latest LRSV release (February 22, 2021):

Link Reservations Inc./LinkResPet To Roll Out Mushroom-Infused Wellness Products

 

For more information about DailyLifeCBD please visit: https://dailylifecbd.com/

DailyLifeCBD is sister brand to LinkResPet, a website focused on providing CBD pet products for dogs, cats and horses. For more information about LinkResPet, please visit www.linkrespet.com or follow them on Twitter on @res_pet.

 

About Link Reservations Inc.

Link Reservations Inc is CBD Petcare provider dedicated to improving the health and life conditions of pets worldwide. Developing and marketing hemp-based CBD products for cats, dogs and horses, the Company is currently present in Europe and in the US. A pioneer in the area, Link Reservations Inc products can be found under its brand LinkResPets (www.linkrespet.com).

 

Forward-Looking Statements & Disclaimers:

The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

 

Link Reservations Inc:
400 Thames Valley Park Drive
Reading Berkshire RG6 1 PT
United Kingdom
Phone: +44 330 808 0897

 

Paid News -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 investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. 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. Disclosure : this news release featuring LRSV is a paid for news release on Investorideas.com  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/ and tickertagstocknews.com

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Friday, February 26, 2021

Investor Ideas #Potcasts 536, #Cannabis News and #Stocks on the Move; (CSE: $DELC.C) (OTCQB: $DELCF), (TSX: $CWEB.TO) (TSXV: $N.V)

 


Investor Ideas #Potcasts 536, #Cannabis News and #Stocks on the Move; (CSE: $DELC.C) (OTCQB: $DELCF), (TSX: $CWEB.TO) (TSXV: $N.V)

 

Delta, Kelowna, BC, February 26, 2021 (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:

https://www.investorideas.com/Audio/Podcasts/2021/022621-StocksToWatch.mp3

 

Read this in full at https://www.investorideas.com/news/2021/cannabis-potcasts/02261DELC-DELCF-CWEB-N.asp

 

Hear the investor ideas potcast on Spotify

 

Hear Investor ideas cannabis potcast on iTunes  

 

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.

 

Delic Holdings Inc. (CSE: DELC) (OTCQB: DELCF), a psychedelic wellness-focused company, announced that it has executed a definitive share purchase agreement to acquire all of the issued and outstanding shares in the capital of Complex Biotech Discovery Ventures ("CBDV"), a licensed psilocybin and cannabis research laboratory focused on extraction, analytical testing, and chemical process development. Founded by award-winning chemist, Dr. Markus Roggen, and UBC Professor, Glenn Sammis, CBDV supports the psychedelic industry with high precision chemical analytics and metabolomic identification. Following the Transaction, CBDV expects to change its name to "DELIC Labs".

 

Transaction Highlights

       The acquisition of CBDV will further establish DELIC as a diversified psychedelics organization: The addition of CBDV will allow DELIC to add scientific-based research and analytics to its product offerings. CBDV recently received its Section 56 Exemption granted by Health Canada, enabling CBDV to focus on research and intellectual property development with psilocybin.

       Building an Intellectual Property ("IP") portfolio: CBDV plans to use its analytical tools for psychedelic mushroom compounds that advance clinical and end-user testing. Development of psilocybin analogs that could be used in future medical treatments.

       Enhanced exposure of CBDV to drive growth: DELIC expects to drive customers to CBDV through its media platform, allowing CBDV to expand its current customer base and potential product offerings.

       History of profitability: CBDV has a history of profitability, with a focus on extraction optimization, analytical testing, and chemical process development to advance the cannabis and psilocybin industry. Current and past customers are well-established global enterprises who require the cutting-edge cannabis and soon, psilocybin research, which CBDV provides services to.

       Management expertise. Dr. Roggen, who will remain as an employee of CBDV following closing of the Transaction, brings a wealth of knowledge and industry experience to DELIC, in a critically important and evolving space.

 

Matt Stang, Founder and CEO of DELIC, commented, "Joining forces with CBDV is a foundational transaction for DELIC. Science and research is the backbone of the psychedelic renaissance and adding the talent, know-how and expertise of CBDV will bear fruit both now and in the years to come. The fact that the company has a world-class team, history of profitability, more than 50 blue chip clients, and is on track for significant growth, makes this a compelling acquisition for DELIC and one that makes it a pillar of the Company. Going forward, with the discussions we currently have in place with the many entrepreneurs worldwide within the DELIC ecosystem, we see an opportunity to potentially commercialize this science in the near term."

 

CBDV is one of a handful of licensed research psilocybin labs in Canada and has an aggressive plan to build out a suite of novel compounds and delivery methods for the industry. The company is also a leading cannabis analytical and research company boasting clients that include some of the largest brands in the world. CBDV intends to apply for its dealer's license, to eventually commercialize its psilocybin research and associated IP.

Dr. Roggen, CEO of CBDV, stated "This is a very exciting moment for us at CBDV. Partnering with DELIC was an easy choice. The combination will allow us to use their platform to share our findings with the psychedelic and medical community while also gaining new clients on the cannabis front. It's a great opportunity to work in tandem with the DELIC team to help these new age treatments become accessible for all."

 

Matt Stang continues, "The DELIC ecosystem will benefit greatly from the IP that will come out of CBDV. As new jurisdictions start to decriminalize and legalize psilocybin, we feel we will have the IP that everyone will want. On top of that, our roots in cannabis are deep and we feel we can direct significant revenue in our network towards CBDV's cannabis business." 

 

Charlotte's Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF), the market leader in hemp CBD wellness products, today announced a long-term scientific collaboration between McLean Hospital, a Harvard Medical School affiliate, and the Company.  Funding and product support are provided by the CW Labs division of Charlotte's Web Inc.

 

Two distinct clinical trials will be overseen by lead researcher/investigator Dr. Staci A. Gruber, Ph. D, Associate Professor of Psychiatry at Harvard Medical School and Director of the MIND program at McLean Hospital in Belmont, Mass.  These two studies will investigate the efficacy of a custom-formulated, hemp-derived high-CBD product. Clinical trial results are to be published in 2022. Dr. Gruber is also conducting a number of other studies, including a longitudinal observational study of Veterans who use a Charlotte's Web product.

 

Dr. Gruber's Marijuana Investigations for Neuroscientific Discovery (MIND) Program, established in 2014, is the first of its kind, and is dedicated to studying the long-term impact of cannabis and cannabinoids for medical and adult use which utilizes various clinical and cognitive tools as well as multimodal neuroimaging techniques.

 

"We are honored to be working with Dr. Gruber, Harvard Medical School and McLean Hospital on these important clinical trials," said Tim Orr, President of Charlotte's Web's CW Labs divison. "Charlotte's Web remains dedicated to supporting third-party research on hemp CBD investigated by some of the country's top scientists."

 

Namaste Technologies Inc. (TSXV: N) (OTC: NXTTF) a marketplace platform for cannabis and wellness products, announced that www.CannMart.com is live in the USA offering Americans hemp derived CBD and smoking accessories. Namaste is excited to be leveraging its VendorLink technology in collaboration initially with DankStop and PeakBirch Logic, Inc., and looks forward to adding more partners to the platform.

 

The announcement of this expansion in the USA underscores Namaste’s intention to increase its total addressable market and exploration into other verticals and geographies as regulation evolves and other adjacent complementary market opportunities present themselves.

 

“With ever stronger signals that the regulatory landscape in the USA is evolving, our entry into the jurisdiction through the sale of hemp derived CBD and accessories will position us strategically to begin capturing new market share and build a first mover advantage if and when cannabis becomes legalized federally,” said Meni Morim, CEO of Namaste. “This development also further validates our investment in technology, as the expansion will be facilitated via our marketplace technology. We look forward to building on this positive momentum as we continue to execute our strategy to position Namaste as a leading global cannabis and wellness company.”

 

“Our goal will be to aggressively expand our footprint into the USA as we scale up our marketplace platform,” said Chad Agate, CTO and VP of Marketplace at Namaste. “We are not growing or exporting products from Canada into the USA, we are simply carving out our role as the facilitators using CannMart.com and our VendorLink platform. American and other companies that wish to sell legal products in the USA can now use our innovative platform to conduct business similarly to Amazon. We look forward to adding more partners selling their innovative products throughout the USA.”

 

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRONtoday announced its 2020 fourth quarter and full-year business results.

“Our fourth quarter 2020 results are the summation of the hard work and perseverance the Company has put into this past year despite the challenges of 2020. As we look to 2021, I’m incredibly excited about the teams we have supporting our brands and the breakthrough research and development ("R&D"), innovation and exciting marketing campaigns Cronos Group plans to execute on. We are poised to build upon the growth we experienced in 2020 as we continue to push cannabinoid innovation and differentiated product offerings under our portfolio of brands,” said Kurt Schmidt, President and CEO of Cronos Group. “My goals this year will be to focus on building a winning team by fostering a collaborative, performance-driven culture; continue to focus on creating disruptive technology and innovation; grow and develop our brands and strengthen our ability to compete through R&D, strategic global infrastructure and engaging in the legislative process in key markets.”

Fourth Quarter 2020

      Net revenue of $17.0 million in Q4 2020 increased by $9.7 million from Q4 2019. The increase year-over-year was primarily driven by continued growth in the adult-use market in Canada, sales in the Israeli medical market and growth in our U.S. segment. Partially offset by non-recurring wholesale revenue in the Canadian market in Q4 2019 and strategic price reductions on various adult-use cannabis products in Canada in Q4 2020.

      Gross loss of $14.9 million in Q4 2020 decreased by $5.2 million from Q4 2019. The decrease in losses year-over-year was primarily driven by a decline in inventory write-downs and increased gross profit in the U.S. segment. Offset by third party purchased flower associated with adult-use products in Canada and a decline in wholesale sales in Q4 2020 versus Q4 2019.

      The Company incurred an inventory write-down in Q4 2020 of $15.0 million on dried cannabis and cannabis extracts, primarily driven by cannabis product price compression in the Canadian market. The Company may incur further inventory write-downs due to pricing pressures in the marketplace.

      Adjusted EBITDA loss of $53.1 million in Q4 2020 increased by $1.5 million from Q4 2019. The increase in losses year-over-year was primarily driven by an increase in general and administrative expenses and an increase in R&D spending.

      Capital expenditures of $11.0 million in Q4 2020 increased by $10.2 million from Q4 2019. The increase year-over-year was primarily driven by spending at the Company's Peace Naturals campus, Cronos Fermentation, our Israeli facility, and our new ERP system.

Full-Year 2020

      Net revenue of $46.7 million in Full-Year 2020 increased by $23.0 million from Full-Year 2019. The increase year-over-year was primarily driven by continued growth in the adult-use market in Canada, growth in our U.S. segment, which included a full-year of the Redwood business as opposed to 117 days in Full-Year 2019, and sales in the Israeli medical market. Partially offset by non-recurring wholesale revenue in the Canadian market in Full-Year 2019 and strategic price reductions on various adult-use cannabis products in Canada in Full-Year 2020.

      Gross loss of $25.8 million in Full-Year 2020 increased by $8.2 million from Full-Year 2019. The increase in losses year-over-year was primarily driven by third party purchased flower associated with adult-use products in Canada and a decline in wholesale sales in Full-Year 2020 versus Full-Year 2019. Partially offset by increased gross profit in the U.S. segment due to a full year of results from the Redwood business and a decrease in inventory write-downs in the ROW segment.

      The Company incurred an inventory write-down in Full-Year 2020 of $26.1 million, on dried cannabis and cannabis extracts, primarily driven by cannabis product price compression in the Canadian market. The Company may incur further inventory write-downs due to pricing pressures in the marketplace.

      Adjusted EBITDA loss of $147.3 million in Full-Year 2020 increased by $48.9 million from Full-Year 2019. The increase in losses year-over-year was primarily driven by an increase in gross loss, increased general and administrative expenses, higher sales and marketing costs related to brand development and R&D spending.

      Capital expenditures of $35.4 million in Full-Year 2020 decreased by $3.6 million from Full-Year 2019. The decrease year-over-year was primarily driven by a reduction in spending at the Company's Peace Naturals campus and Cronos Israel. Partially offset by an increase in spending at Cronos Fermentation.

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