Investor Ideas Potcasts #Cannabis News and Stocks on the Move: (NASDAQ: $TLRY) (CSE: $CGOC.C) (CSE: $HARV.C)
Delta, Kelowna, BC - December 19, 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 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: (NASDAQ: $TLRY) (CSE: $CGOC.C) (CSE: $HARV.C)
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Today's podcast overview/transcript:
Good afternoon and welcome to another Investorideas.com “potcast”, looking at cannabis news, stocks to watch as well as insights from thought leaders and experts.
Today we are looking at announcements from Tilray Inc. (NASDAQ: TLRY), Harvest Health & Recreation Inc. (CSE:HARV) and Cannabis Growth Opportunity Corporation (CSE: CGOC)
Tilray Canada Ltd., a subsidiary of Tilray Inc., a global pioneer in the production, research, and distribution of medical cannabis, announcedthat it has entered into a global framework agreement to collaborate with Sandoz AG, a global leader in generic pharmaceuticals and biosimilars and a part of Novartis group, to increase availability of high-quality medical cannabis products across the world.
An evolution of an existing alliance between Tilray and Sandoz Canada, the Framework Agreement represents the intentions of the two companies to jointly operate in jurisdictions where cannabis is or will be approved for medical purposes.
Tilray, a global pioneer of medical cannabis, has products available in twelve countries and operations in Australia & New Zealand, Canada, Germany, Latin America, and Portugal. This agreement builds on Tilray’s pioneering track-record as a company committed to making pharmaceutical-grade medical cannabis products available to patients in-need. Tilray was the first licensed medical cannabis producer in North America to obtain current Good Manufacturing Practice (cGMP) certification in accordance with the European Medicines Agency’s (EMA) standards.
“This agreement represents a major milestone in the movement to provide access to safe, GMP-certified medical cannabis to patients in need across the world,” says Brendan Kennedy, Tilray Chief Executive Officer. “Tilray is a global company and we’re thrilled to build upon the success and momentum from our existing agreement with Sandoz Canada by taking our partnership global. Sandoz AG will be a valuable partner as we work together to improve access to the highest quality medical cannabis products in countries all over the world.”
Harvest Health & Recreation Inc., a vertically integrated public cannabis company with one of the largest footprints in the United States and now listed publicly on the CSE in Canada, today added to its existing retail license award in Pennsylvania by winning every license it applied for giving Harvest the ability to open more retail stores than any other company. Each license permits the recipient to open up to three retail stores. Harvest was chosen because it received the highest scores on all but one of its regional applications (where it placed 2nd overall) based on its responses to the criteria developed by the Pennsylvania Department of Health. The Department of Health issued a total of 23 dispensary permits for Phase II of the medical marijuana program. Harvest will now have six months to become operational before it begins dispensing medical cannabis. With these latest wins, Harvest and its subsidiaries now have a significant footprint in 12 states across the US. Harvest was previously granted a retail license for Pennsylvania's Southeast region in June of 2017, which includes its first store in Redding and two upcoming stores in the Philadelphia metropolitan area.
"As is true elsewhere, we are now ahead of schedule in the state of Pennsylvania, as we work to build the largest retail footprint in cannabis," said Steve White, founder and CEO of Harvest. "Pennsylvania, as a cannabis market, has exceeded our expectations. And Harvest is excited and proud to have been awarded these important licenses, allowing us to bring our leading products, storefronts, experience and approach to citizens throughout the state. Our real estate teams have already been deployed throughout Pennsylvania and will identify the best retail locations for our new stores. Pennsylvania is quickly becoming one of the most important states for our long-term plans."
Cannabis Growth Opportunity Corporation, a cannabis focused investment corporation with both public and private cannabis holdings, announced that the company's updated net asset value per common share ("NAV") of $2.40 at the close of business on December 17, 2018. This represents growth of 3.5% since our Initial Public Offering at the beginning of this year.
CGOC is now approximately 92% percent invested in companies operating in Canada, the U.S., Jamaica and Israel.
Jamie Blundell, President and Chief Operating Officer of CGOC commented, "CGOC realized a loss of 8.75% over last month compared to the North American Marijuana Index, which saw a 35.24% decrease. We continued to see downward pressure in the sector, compounded by tax loss selling this month. However, the NAV has remained relatively stable throughout a very volatile year. As well, one of our private holdings was acquired earlier this year while others realized subsequent liquidity events all of which reinforces the investment thesis of the diversified portfolio.
"Over the past 10 months of CGOC being in operation we have seen a continued evolution of regulations and legalization within new jurisdictions. As well, there were a number of significant catalyst events within the industry that drove the sector in both directions. We truly believe that as we market the benefits of an actively managed and truly diversified portfolio, that offers exposure to private as well as public companies, and as we announce the positive liquidity and milestone events of our private holdings, that CGOC will resonate with investors, and should provide a positive impact to our valuation going forward."
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