Investor Ideas #Potcasts #Cannabis News and Stocks on the Move: CSE: $VGW.C, CSE: $ISH.C, TSXV: $BVO.C, TSXV: $N.V
Delta, Kelowna, BC - October 29, 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: CSE: $VGW.C, CSE: $ISH.C, TSXV: $BVO.C, TSXV: $N.V
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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 Valens GroWorks Corp. trading on the CSE as VGW, Inner Spirit Holdings Ltd. trading on the CSE as ISH, Bevo Agro Inc. Trading on the TSX-Venture as BVO, National Access Cannabis trading on the TSX-Venture as META and Namaste Technologies Inc. trading on the TSX-Venture as N.
Valens GroWorks Corp., a multi-licensed, vertically integrated provider of cannabis products and services utilizing proprietary extraction processes announced that it has signed a share purchase agreement with Australian-based RotoGro International Limited to sell one of the Company's wholly owned subsidiaries, Supra THC Services Inc., which currently holds the Company's second Dealers License, for total consideration of $11,000,000. Concurrently with the transaction, the Company will transfer all of the existing assets of Supra, except the license, into a new subsidiary Valens Labs Ltd. and sell the remaining entity to RotoGro. Valens Labs will provide the new platform for the Company's lab service business and ensure a seamless transition following the sale of Supra.
The purchase price will be paid at four milestones and will be comprised of $2,000,000 in cash, and 18,900,000 shares of RotoGro with a current estimated value of $9,000,000.
"RotoGro is very excited to have the opportunity to fast track its entry into the Canadian cannabis market with the acquisition of an existing Dealers License from Valens GroWorks," says RotoGro International Limited Managing Director Michael Carli. "We were very fortunate for Valens multi-license position with Health Canada and look forward to collaborating with them as we enter the Canadian market with our Ontario-based operations."
With the sale of Supra, the Company's strategic focus remains unchanged as it retains licenses from Health Canada that permit cultivation, processing cannabis oil, as well as analytical testing of cannabis.
Inner Spirit Holdings Ltd. announced that the Alberta Gaming and Liquor Commission ("AGLC") has granted final licenses to operate recreational cannabis dispensaries to three Spiritleaf franchise locations in Brooks, Lethbridge and St. Albert, Alberta. In addition, Spiritleaf's Moosejaw, Saskatchewan location has also received its license from the Saskatchewan Liquor and Gaming Association ("SGLA"). All four of these Spiritleaf franchise locations are expected to open in the next week.
The Company also announces that the AGLC has advised Spirit Leaf Inc., its wholly-owned subsidiary, that it has completed its due diligence and has found the Company suitable to hold a Retail Cannabis Store Licence. Spirit Leaf Inc. and its franchise partners will continue to work with the Alberta government on final approvals of its additional 24 municipally approved Alberta sites that are in various stages of construction while simultaneously working with local municipalities on the approval of its other conditionally secured locations.
Bevo Agro Inc. and Sun Pharm Investments Ltd. "Sun Pharm" announced that Zenabis Ltd. has (indirectly through Sun Pharm) entered into subscription documents with National Access Cannabis for up to $15 million of common shares of NAC following the completion of certain milestones.
NAC is a best practices leader in delivering secure, safe, and responsible access to legal cannabis in Canada. Through its Canada-wide network of medical cannabis clinics, partner pharmacies, NAC Bio's clinical research division, Meta Cannabis Supply Co.™ and NewLeaf Cannabis™ recreational cannabis retail stores, NAC enables patients and the public to gain knowledge and access to Canada's network of authorized Licensed Producers of cannabis.
"We are elated that Zenabis has chosen to invest in NAC," said Mark Goliger, CEO of NAC. "This financing represents a great validation of NAC's retail recreational and medical cannabis pharmacy models. NAC is ready to play a dominant role in providing safe and responsible legal access points across Canada, via an expected footprint of 200+ retail cannabis stores across five private retail provinces over the next 18 months under our brands, Meta Cannabis Supply Co. (META) and NewLeaf Cannabis and 100+ pharmacy partnerships."
Namaste Technologies Inc. announced that the Company's wholly-owned subsidiary, NamasteMD Inc., has signed a Patient Services Agreement with Buds2go.ca. Buds2go is an online platform which holds over 80,000 users in its database with over 100,000 weekly sessions. Subject to the terms of the Agreement, Buds2go will offer users access to medical cannabis consultations through the Company's wholly owned subsidiary and online patient portal, NamasteMD Inc.
The Company expects to see a significant increase in patient acquisition through NamasteMD, as Buds2go not only maintains a large database of users but also has very strong organic search traffic rankings. By leveraging NamasteMD's platform, Buds2go is able to offer users with access to a simple and convenient platform to access medical cannabis consultations with a trained professional. While the Company is focused on rapid expansion of its patient database through NamasteMD and in on-boarding new patients the Company is also actively focused on expanding its offering and securing a strong supply chain for the future.
Namaste Technologies Inc.also announced that the Company's wholly-owned subsidiary, Cannmart Inc., has signed a medical cannabis supply agreement with RMMI Corp.'s (CSE: RMMI) wholly-owned subsidiary, Rocky Mountain Marijuana Inc., whereby Cannmart will purchase medical cannabis from RMMI to offer in its online platform. Subject to the terms of the Agreement, Cannmart will have the right of first refusal ("ROFR") on 20% of RMMI's gross production.
Cannmart holds the first "sales-only" license to be issued to a non-cultivator. Cannmart's goal is to offer a unique selection of high-quality cannabis products sourced from Licensed Producers across Canada. This strategy is the cornerstone of Cannmart's business model which is focused on enhancing the user experience and offering industry-leading customer support. The Agreement with RMMI which includes the 20% ROFR is important to the Company as it guarantees products for our patients and strengthens Cannmart's supply chain. Subject to the terms of the Agreement, Cannmart will purchase packaged, pre-labeled and tested products from RMMI to offer through its online platform.
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