Investor Ideas #Potcasts #Cannabis News and Stocks on the Move: TSXV: $OGO.V, TSX: $WEED.TO, NYSE: $CGC, TSX: $APHA.TO, NYSE: $APHA, CSE: $CXXI.C
Delta, Kelowna, BC - November 2, 2018 (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 its series, Investorideas.com potcastsCM - cannabis news and stocks to watch plus insight from thought leaders and experts.
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Investor Ideas #Potcasts #Cannabis News and Stocks on the Move: TSXV: $OGO.V, TSX: $WEED.TO, NYSE: $CGC, TSX: $APHA.TO, NYSE: $APHA, CSE: $CXXI.C
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Today's podcast overview/transcript:
From company news sources
Good afternoon and welcome to another Investorideas.com Potcast - following Cannabis news, stocks to watch as well as insights from thought leaders and experts.
Today we will be looking at announcements from Organto Foods Inc. trading on the TSX-Venture as OGO and OTC as OGOFF, Canopy Growth Corporation trading on the TSX as WEED and the NYSE as CGC, Aphria Inc.trading on the TSX and NYSE as APHA and C21 Investments Inc. trading on the CSE as CXXI
Organto Foods Inc., an integrated provider of value-added organic vegetables and fruits today announces that it has entered into an agreement to acquire Medicannabis S.A.S. ("Medicannabis"), a privately held Colombian medicinal cannabis company that is a late stage applicant for licenses to enable it to cultivate and process cannabis in Colombia.
"We believe the acquisition of Medicannabis is a logical and complementary extension to our current organic vegetables and fruits business, given our diverse sourcing, processing, logistics, import, export and organic certification expertise." commented Steve Bromley, Chair and Interim Chief Executive Officer of Organto Foods Inc. "While organic fruits and vegetables will continue to be the mainstay of our business, we believe the addition of a self-standing cannabis division will ultimately lead to increased profitability and value creation for our shareholders."
Under the terms of the agreement, the transaction would proceed in two stages. In the first stage Organto acquires the shares of Medicannabis and undertakes the final stages of the licensing process. Subject to final due-diligence, this is anticipated to be completed during the week of November 5, 2018. In the second stage, which remains subject to the acceptance of the TSX Venture Exchange and shareholder approval, Organto issues up to 8,000,000 shares (the "Shares") to the original shareholders of Medicannabis upon receipt of a cultivation license which is one of a number of licenses Medicannabis has applied for. Should the transaction proceed, Organto will seek shareholder approval via shareholder consent resolutions, and is confident this can be obtained in a timely manner. The Shares would be subject to a four month hold period under applicable securities regulation and also be subject to contractual release limitations over a three-year period.
Full details of the acquisition, including Organto's plans in the cannabis sector, Medicannabis' unique cultivar breeds, and key personnel appointments, will be announced following closing, should it proceed, and is currently scheduled for the week of November 5, 2018.
Constellation Brands, Inc. (NYSE: STZ) and Canopy Growth Corporation announced the closing of Constellation's $5 billion CAD ($4 billion USD) investment in Canopy Growth, which was previously announced on August 15, 2018. The transaction was approved by an overwhelming majority of Canopy Growth shareholders and has been granted all required regulatory approvals, including by the Canadian government under the Investment Canada Act.
This investment provides Canopy Growth with significant funding needed to build scale in the more than 30 countries currently pursuing federally permissible medical cannabis programs, while establishing the foundation needed to supply new recreational adult-use markets as cannabis becomes legal in markets around the world.
"We're excited to expand our strategic partnership with Canopy Growth and to begin helping them build the global scale needed to win long-term," said Rob Sands, chief executive officer, Constellation Brands. "The global cannabis market presents a significant growth opportunity and Canopy Growth is well-positioned to establish a strong leadership position in this fast-evolving category."
Aphria Inc., who began trading on the NYSE under the new symbol APHA today, also announced that its Australian-based partner Althea Company Pty Ltd. has been granted a Manufacture Licence by the Australian Government's Office of Drug Control.
The license provides Althea with authorization to manufacture extracts and tinctures of cannabis and cannabis resin in accordance with relevant manufacture permits.
"We are excited to see our Australian partner achieve yet another milestone in receiving its Manufacture License. This is another step towards ensuring Australian patients have access to high-quality medicinal cannabis," said Vic Neufeld, CEO of Aphria.
C21 Investments Inc. announced that it has entered into definitive agreements for the July 9, 2018 announced acquisition of Swell Companies Limited. Swell is an extraction, manufacturer and distributor of THC and CBD products. Swell has more than 50 of its branded products available in over 275 licensed retail locations across Oregon. Raw oil, encapsulates and vaporizers are distributed under its in-house brands: Dab Society Extracts and Hood Oil. The capacity of Swell's Portland processing facility will reach up to 5,000 lbs of raw material throughput a month. This throughput will translate into 220,000 to 270,000 grams of processed high-quality oil-based extracts per month, making Swell one of the largest processing groups in Oregon. Additionally, a new state of the art facility located in Bend, Oregon, will be operational in December adding a further capacity to process 1,200 lbs of raw material per month delivering a further 65,000 grams of processed high-quality extracts monthly.
"Swell is C21 Investment's 4th US operation within its asset portfolio to sign a definitive agreement," said Robert Cheney, President and CEO of C21 Investments. "Acquiring Swell fulfills a critical segment in the Company's expansion strategy making C21 Investments a leading force in processing and manufacturing in the United States.
"Consumption of cannabis concentrates, such as vapes and edibles, saw a 49%1 increase in 2018," said Alleh Lindquist, CEO of Swell. "This segment is quickly becoming the most significant component in cannabis consumption and with the support of C21, Swell will have the necessary resources to further expand its extraction and manufacturing capabilities to new markets
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