Delta, Kelowna, BC - October 3, 2019 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today's edition of Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:Investor Ideas Potcasts, Cannabis News and Stocks on the Move: (TSX: WEED) (NYSE: CGC) (TSX: RIV) (OTC: CNPOF) (CSE: FONE) (OTCQX: FLOOF), (CSE: PLTH) (OTCQX: PLNHF)
In today's podcast we look at a few early announcements.
But first, Province Brands of Canada's co-located subsidiary, Evolved Canna-Innovation Labs, announced that it has received its research and development license from Health Canada. The license permits an in-house pharmacology and pharmacokinetics laboratory and cannabis research facility in Province Brands' 123,000 square-foot facility in Grimsby, Ontario. Province Brands' subsidiary will use the license to continue its ongoing R&D into creating valuable intellectual property, enabling the worlds' first fermented beverages brewed from the cannabis plant. This moves Province Brands one step closer toward a 2020 Canadian retail product launch for their versatile portfolio of premium and super premium adult cannabis beverages.
Province Brands is the only known company exclusively focused on brewed or fermented beverages to receive Health Canada's cannabis research greenlight. The Company has invested more than $CAN10 million in direct R&D costs and has assembled a team of globally renowned bioprocess chemists, bioprocess engineers, pharmacologists and cannabinoid researchers to develop premium cannabis beverages crafted in an entirely new brewing tradition. The patent-pending technology enabling this new tradition helps Province Brands avoid many of the problems and pitfalls commonly found in cannabis-infused beverages and helps bring the company closer to its goal of creating a less harmful alternative that can be used in all the same social and leisure settings as alcohol.
For the past three years, Province Brands' industry-leading R&D team has been conducting research at colleges, universities, Contract Research Organizations, and other appropriately-licensed venues. The company's researchers will now be able to work directly with cannabis in the 123,000 square-foot facility in Grimsby, Ontario.
With the newly granted research license, Province Brands will focus on increasing the carryover of cannabinoids from the plant matter into the Company's final products and continue development of technologies aimed at creating a beverage with a dose/response curve similar to that of alcohol. Additionally, the company will develop protocols for cell-based research to advance its understanding of the phytocannabinoid pharmacology for future product developments.
Check our past interview with Province Brands here.
StrainprintR Technologies Ltd. expanded their international reach with the addition of Tikun Olam, an award-winning medical cannabis cultivation and research company to their growing portfolio of cannabis-based businesses.
The world's first licensed cannabis company, Tikun Olam is the recognized global leader in cannabis research and developed the world's first-ever, high-CBD, low-THC, cannabis varietal Avidekel to treat adult and child patients alike with broad-spectrum cannabinoids without a psychoactive effect. Since 2002, the company has been on a mission to "Repair the World" with plant-based medicine. With operations in Israel, Canada, Australia, the UK, and the US, Tikun Olam is both a cultivator of multiple award-winning strains, as well as a premier producer of broad-spectrum CBD products.
"Tikun's unique proprietary strains have been developed specifically for symptomatic relief and efficacy and are backed by over a decade of research," said Stephen Gardner, Chief Marketing Officer of Tikun Olam. "Our commitment to producing the world's most effective therapeutic strains led us to Strainprint because of their unwavering endorsement of the scientific understanding of cannabis and its legitimacy as a therapy."
Tikun Olam will leverage the Strainprint Analytics web platform, the most sophisticated cannabis analytics source available to help identify patterns for the products they cultivate, process or distribute. The company will be able to broaden their already robust patient data and provide the best recommendations for medical cannabis prescription and delivery method to patients of all ages. The platform is built on top of the largest and most granular scientific data set of its kind in the world, with more than 1.4 million anonymized, patient reported medical cannabis outcomes and more than 70 million data points on strain efficacy.
Their medical cannabis patients will also have access to Tikun Olam's custom-branded version of the Strainprint mobile app. The app is free, allowing them to track their treatment sessions in real-time and understand how to achieve the best results for their symptoms. The custom-branded version of the app includes loyalty tools that drive engagement through redeemable discounts on merchandise.
"We are naturally drawn to partners who share our drive to further understand the benefits of medical cannabis and continue to change society's perception, reducing social stigmas," said Strainprint CEO, Andrew Muroff. "We are so pleased that such a reputable global brand chose to work with us, trusting that we have the best tools and data available today. Tikun Olam is producing some of the highest medical value strains on the market, and we are thrilled to open up our technology platform to help take their research and development to the next level."
Tikun Olam will also have access to a "sandbox" testing environment of their own patient data. Here they will be able to test a variety of hypotheses about the data and analytics.
Check out our past interview with StrainPrint here.
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced that it has completed an all-cash transaction to purchase a majority stake in BioSteel Sports Nutrition Inc., a leading producer of sports nutrition products. The transaction provides Canopy Growth with a significant platform to enter the sports nutrition and hydration segment, and lays the groundwork for the adoption of CBD in future product offerings in accordance with regulations globally including products to be sold in the U.S. containing CBD sourced from federally permissible industrial hemp.
Founded in 2009, BioSteel's focus on premium natural ingredients, product transparency, and identifying the essential nutrients needed to power physical activity has led to the brand achieving a reputation for being the hydration product provider of choice for high performance athletes. BioSteel products have been purchased by over 70% of the teams in North America's four major sports leagues and ambassadors of the brand include: Ezekiel Elliott, of the Dallas Cowboys; Connor McDavid, of the Edmonton Oilers; WTA player, Eugenie Bouchard; Andrew Wiggins with the Minnesota Timberwolves; Tyler Seguin with the Dallas Stars; Jalen Ramsey, with the Jacksonville Jaguars; NHL Hall of Famer, Wayne Gretzky; Gleyber Torres, with the New York Yankees; and Smiths Falls very own, LPGA golfer Brooke Henderson. In particular, Elliott's agreement with BioSteel allows them to activate the star running back as the leading endorser of CBD products once permitted by the NFL. To date no active player has been able to do so.
In addition, BioSteel has national organizational partnerships with USA Hockey, Canada Basketball, Athletics Canada and the Professional Hockey Players Association. The company has 10,000+ points of distribution in Canada and the U.S. and continues to expand in both markets and into Europe.
"BioSteel has a reputation for being a best-in-class provider of natural sports nutrition products and all of its products are well positioned to benefit from the increasing trend of plant-based and all-natural products, preferred not only by professional athletes, but active consumers as well," commented Mark Zekulin, CEO, Canopy Growth. "This acquisition allows us to enter the sports nutrition space with a strong and growing brand as we continue towards a regulated market of food and beverage products that contain cannabis. We view the adoption of CBD in future BioSteel offerings as a potentially significant and disruptive growth driver for our business."
"The use and acceptance of CBD-based products in the professional sports landscape has changed. We have witnessed the negative effects of prescription painkillers and athletes are looking for healthier alternatives," said Michael Cammalleri, Co-Founder and Co-CEO, BioSteel Sports Nutrition. "Its presence is already commonplace amongst NHL players and as a regular CBD user myself, I couldn't be more proud to champion BioSteel's evolution and leadership in this space."
"Since inception, BioSteel has taken great pride in being at the forefront of healthy and natural sports nutrition. Joining Canopy Growth, the world leader in cannabis research, development and production, reflects the natural evolution of our brand and will allow us to expand our product offering and global distribution," said John Celenza, Co-Founder and Co-CEO, BioSteel Sports Nutrition. "The consumer market and many of our athletes have a growing knowledge of cannabis and CBD products and this partnership ensures that we will continue to raise the bar in the sports nutrition field."
Today's announcement further advances Canopy Growth's ongoing multi-faceted strategy to enter new markets with a platform spanning production, distribution and marketing of CBD products derived from hemp and cannabis in accordance with regulations across a number of different verticals. The transaction gives Canopy Growth a 72% stake in BioSteel with an agreed upon path to 100% ownership.
TerrAscend is the first and only cannabis company with sales in Canada, the U.S., and Europe. TerrAscend's international cannabis portfolio includes a robust research and development platform, domestic and international cultivation, processing, and distribution facilities, and a portfolio of medical and adult-use branded cannabis products, and is one of a select group of industry operators to have been recognized with a European Good Manufacturing Practices certification. TerrAscend is also an active participant in the Canopy Rivers ecosystem, with significant agreements in place with Canopy Rivers portfolio companies PharmHouse Inc. and James E. Wagner Cultivation Corporation.
"We think TerrAscend is uniquely positioned to meet the evolving consumer demands in the three largest cannabis markets worldwide," said Narbe Alexandrian, President & CEO of Canopy Rivers. "We strongly believe in TerrAscend's ability to execute on its global strategy, market a diversified brand portfolio, and build on its recent acquisitions, and this additional investment is an affirmation of that belief."
Check out our interview with Narbe Akexandrian here.
Flower One Holdings Inc. (CSE: FONE) (OTCQX: FLOOF), announced that it has initiated its West Coast expansion. After successfully delivering the largest facility in Nevada, from conception to revenue generation in less than 14 months, Flower One has now set its sights on California as its next strategic market.
At 455,000 square feet, Flower One's existing Nevada facility is the largest cannabis greenhouse and production facility in the state. Plans for California entry will see the Company leverage the many cannabis-specific operational proficiencies and manufacturing methodologies it has developed in Nevada, to make it an industry leader and innovator in the state of California.
"Flower One's expansion to California is a natural and logical progression," said Ken Villazor, President and CEO of Flower One. "With California's proximity to Nevada, we are able to leverage processes and efficiencies already established as they relate to cannabis production and cultivation, as well as management, purchasing, training, and brand engagement. Our experienced team and the expertise gained from our successful Nevada market entry and roll out, provides us with an excellent foundation to seed our California operations."
Building off of its success in Nevada, where it achieved record cannabis yields and boasts the lowest reported production cash cost per gram in the industry at US$0.45 (US$205 per pound), Flower One's strategic efforts for market entry into California have been underway for the better part of a year. Leveraging the skills of a highly specialized and experienced team, the Company has conducted thorough analyses of various locations for climate, water, power, tax structures, and labor quality and supply. Strong engagement with local government entities including City, County and State has allowed the site selection process to narrow and negotiations to begin for purchase of a property.
"What Flower One has accomplished in Nevada is nothing short of spectacular," said Kellen O'Keefe, Chief Strategy Officer at Flower One. "We are confident in our team's capabilities – armed with over 25 years of experience in building and operating some of the largest greenhouse facilities in the world. We can't wait to bring Flower One to the largest legal cannabis market in the U.S."
According to leading market research firm Arcview, California will grow from its current market of $3.1 billion in sales to over $7.2 billion by 2024. Flower One is positioning itself to become one of the largest and most important seed to shelf cannabis brand fulfillment companies on the West Coast.
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) announced that has it served an average of 1,970 customers per day in September at an average ticket of $94.73 from the Planet 13 Las Vegas Cannabis Entertainment Complex.
"We have been experimenting with different combinations of pricing, product deals, and advertising to determine the optimal mix to maximize gross profit. You can see this effect in September resulting in a significant pickup in average ticket and our second highest average daily revenue month. This large per day revenue number was achieved despite West Desert Inn Road, where Planet 13 is located, being under construction for most of the month. The county has added new pedestrian lights and crosswalk in front of the store to help pedestrians cross the street safely at all times," said Bob Groesbeck, Co-CEO of Planet 13. "Starting in October we will be driving additional traffic from our restaurant, café, event center and customer-facing production facility. Over the course of Q4 and Q1 2020 our internal goal is to grow sales of non-flower in-house brands to drive additional margin and create lasting brand recognition."
Construction on Phase II expansion, which includes a restaurant, café, event center, and customer-facing production facility, is largely complete as of October 1st, 2019. The restaurant is expected to open on or around October 11th, 2019 pending final inspection and approval from County and Health inspectors.
The 15,000 sq. ft. customer-facing production facility is expected to begin operations on or around October 15th, 2019 pending final approval of transfer of production license from Planet 13's existing 2,000 sq. ft. production facility.
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