Investor Ideas Potcasts #Cannabis News and Stocks on the Move: TSX: $APHA.TO, NYSE: $APHA, TSXV: $N.V, TSXV: $GTEC.V, CSE: $LDS.C
Delta, Kelowna, BC - November 7, 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: TSX: $APHA.TO, NYSE: $APHA, TSXV: $N.V, TSXV: $GTEC.V, CSE: $LDS.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 Aphria Inc.trading on the TSX and NYSE as APHA, Namaste Technologies Inc. trading on the TSX-Venture as N, GTEC Holdings Ltd. trading on the TSX-Venture as GTEC and the OTC as GGTTF and Lifestyle Delivery Systems Inc. trading on the CSE as LDS.
But first, with mid-term election results in for the US, Michigan voted to legalize the recreational use of cannabis, while Utah and Missouri legalized it for medical use. A recreational measure in North Dakota failed, though medical cannabis remains legal there. They join 31 other states that have already gone the medical route, and nine others that have gone fully recreational.
Also in the news, it appears Mexico's next interior minister plans to submit a bill to create a medical marijuana industry and allow recreational use. Senator Olga Sanchez, Mexican President-elect Andres Manuel Lopez Obrador's choice for interior minister, told Reuters that the bill would be presented this week in Congress.
If the bill passes, Mexico would join Canada, Uruguay and a host of U.S. states that permit recreational use of the drug and allow its commercialization and it would also be one of the most populous countries to roll back prohibition.
Aphria Inc. and Perennial Inc., a subsidiary of DATA Communications Management Corp. (TSX: DCM) announced that they have closed the transaction announced on August 14 to establish a joint venture devoted to creating original, consumer-driven brands and products for the adult-use cannabis market.
The JV will leverage Aphria's expertise as a leading global cannabis producer and Perennial's experience with international brand development and strategy to introduce new, cannabis-infused products to the Canadian and legal international markets. The JV will look beyond just edibles and beverages to a range of products designed to meet consumer demand in the cannabis and wellness space. Perennial has a successful track record of creating go-to-market strategies for major CPG and retail clients throughout North America and around the world.
"With this partnership, Aphria is advancing its industry-defining approach to developing the cannabis-based products of tomorrow," said Jakob Ripshtein, President of Aphria. "The long-term future of this industry will be driven by consumer-centric R&D, innovation-led product and brand development and the ability to execute. Aphria is setting this standard today, and we will continue to pursue the most strategic opportunities and partnerships to bring consumer-focused innovations that define the future of this global industry."
Namaste Technologies Inc. announced that the Company's wholly-owned subsidiary, Cannmart Inc., has signed a product acquisition agreement with AgMedica Bioscience Inc., whereby Cannmart will purchase medical cannabis from AgMedica to offer in its online platform. AgMedica is a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"), who hold a cultivation and sales license.
Subject to the terms of the Agreement, Cannmart has placed its first order with AgMedica, and will be launching AgMedica products in its online medical cannabis marketplace. Cannmart will offer AgMedica products pre-packed in 5g, 10g, and 15g allocations. The Company's goal is for Cannmart to offer patients a unique user-experience and a variety of cannabis products and strains sourced from multiple licensed producers.
GTEC Holdings Ltd. announced that it has entered into a binding letter agreement (the "First Agreement") with a private British Columbia corporation ("AssetCo") to purchase the business assets of AssetCo (the "Acquisition"), which primarily consist of two cannabis dispensaries located in Vancouver, BC. AssetCo has ceased all operations and is currently in the process of converting the locations from municipally licensed medical cannabis retail stores, into Provincially licensed private non-medical cannabis retail stores.
The Acquisition is subject to, the completion of due diligence by GTEC, the successful assignment of municipal development permits for a cannabis retail store at each of the two locations and the receipt of non-medical cannabis retail store licenses from the British Columbia Liquor and Cannabis Regulation Branch.
Under the terms of the First Agreement, all the business assets of the AssetCo will be purchased by GreenTec Retail Ventures Inc., a wholly owned subsidiary of GTEC, for a total purchase price of CAD $5.5 million. The purchase price will be comprised of $1.5 million cash and $4 million by way of issuance of GTEC common shares at a 10-day volume weighted average price.
Additionally, GTEC has entered into a binding letter agreement with a society created pursuant to the laws of British Columbia to purchase all the assets of SocietyCo, which consist primarily of one medical cannabis dispensary, and a medical cannabis consulting clinic, both of which are located in Vancouver, BC. SocietyCo has ceased all operations and is currently in the process of converting the location from a municipally licensed medical cannabis retail store into a Provincially licensed private non-medical cannabis retail store.
"As GTEC evolves into a revenue generating company, the addition of these locations will complement our initiative to achieve market share, brand awareness and consumer loyalty within the premium segment of the market," said Norton Singhavon, Chairman & CEO of GTEC. "Upon successful Provincial licensing and completion of these acquisitions, this will place our retail footprint across all three Western Provinces- BC, Alberta and Saskatchewan, with an estimated 12 locations operational in 2018 and 30+ locations to be operational in Q1 of 2019."
Lifestyle Delivery Systems Inc. announced that for the month ending October 31, 2018, Rêveur Corporation (formerly known as CSPA Group, Inc.) recorded $1,171,389 (USD$900,376) in revenue from its Adelanto operations.
Rêveur Corporation continues to increase its revenue month over month, and the Company expects this trend to continue for the month of November 2018. LDS' CEO, Brad Eckenweiler, stated, "These revenue numbers are very encouraging and are possibly the best representation of the future outlook for the Adelanto facility." Mr. Eckenweiler continued by saying, "The ability for our shareholders to directly connect Rêveur Corporation revenue to LDS is beneficial for the Company and its shareholders, we are looking forward to our fourth quarter revenue results. Rêveur Corporation has generated over two million dollars in revenue to date."
Rêveur Corporation (formerly knows as CSPA Group, Inc.) is a wholly-owned subsidiary of Rêveur Holdings Inc., a wholly-owned subsidiary of LDS. Rêveur Corporation is located in Adelanto, California and is a City permitted and State Licensed manufacturer and distributor/transporter in the California cannabis industry manufacturing extracted oils and distillates, and producing CannaStripsTM under a license agreement with Lifestyle Delivery Systems Inc.
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