Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move: (CSE: $CRFT.C) (CSE: $OILS.C) (TSX: $TRST.TO) (NYSE: $CTST) (TSXV: $RIV.V)
Delta, Kelowna, BC –August 12, 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.
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Read this in full at https://www.investorideas.com/news/2019/cannabis-potcasts/08121CRFT-OILS-TRST-CTST-RIV.asp
Today's podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast we look at a few early announcements.
Pasha Brands Ltd. (CSE: CRFT) (OTC:CRFTF), North America's largest craft cannabis brand house, announced that its wholly owned subsidiary, BC Craft Supply Co. Ltd, has signed a supply agreement with Canada's first licensed micro processor, North 40 Cannabis.
Founded by Gord Nichol in Nipawin, Saskatchewan, North 40 Cannabis received its micro-cultivation and micro-processing licences from Health Canada on July 26, 2019. Under the agreement with Pasha, North 40 will supply BC Craft with North 40's annual production, to be sold as dried flower and other cannabis products in Canada.
"I'm absolutely thrilled to have signed an agreement with a company like Pasha," said Gord Nichol, founder of North 40 Cannabis. "They have shown micro cultivators like me that they are dedicated to ensuring craft producers in Canada will flourish under legalization. I'm excited to move ahead and looking forward to our first harvest this year." North 40 Cannabis will plant its first legal crop in August 2019 and harvest later in the fall.
With Canada's current licensed cannabis producers only able to supply an estimated 15 percent of what Canadians are consuming, Pasha is optimistic that, in addition to its previously established supply agreement with Hearst Organic, this new supply agreement with a licensed micro cultivator and micro processor will help correct the cannabis supply imbalance and bring exciting new products to market. Each micro cultivator in Canada will be able to produce approximately 500 kilograms of cannabis per year, while each micro processor can process up to 600 kilograms of cannabis per year. Canada has tens of thousands of craft producers operating in the illicit cannabis market and Pasha's wholly-owned subsidiary BC Craft Supply Co. is focused on helping as many small farmers transition into the regulated market as possible.
"Signing this agreement with Canada's first microprocessor is very significant as it affirms BC Craft's business model with not only the micro-cultivation market but also now with processors," said Jason Longden, CEO of Pasha Brands in reaction to the news. "North 40 has established a state-of-the-art cultivation and processing facility and we are proud to work with such an innovative team. This is simply the next step in fulfilling our goal of becoming the biggest producer of craft cannabis products in Canada and I'm confident North 40 will help us bring Canadians more of the cannabis that they're looking for.”
Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF), an extraction technology company that owns a portfolio of issued and pending patents pertaining to the Company's industrial-scale process of extraction and purification of cannabinoids, announced that the completion of two research and development projects with the National Research Council of Canada's Industrial Research Assistance Program ("IRAP"), and the Natural Science and Engineering Council ("NSERC").
During the yearlong IRAP project, Nextleaf successfully developed a media treatment process to remove undesirable elements such as chlorophyll, carotenoids, and anthocyanins from crude extract. The project was conducted using common hops (Humulus lupulus), a suitable analog for cannabis as the two are genetically related, and contain a similar pigment and oil profile.
The five-person research team - including four PhDs - was led by Nextleaf's Engineering Manager, Krupal Pal, PhD, P.Eng. "We found unique ways to adapt existing validated technology from complimentary industries such as oenology, as well as drawing on my previous experience in oil and gas refinement" stated Dr. Pal.
Technology developed during the IRAP funded R&D project will be applied within Nextleaf's patented extraction process and used in the production of THC and CBD distillates for vapes, edibles, and beverages once legalized in Canada. "Chlorophyll and other pigments can affect the consumer experience in a number of ways, including inferior taste and appearance," said Dr. Krupal Pal, "but more importantly chlorophyll can affect the functionality of vape hardware as it has a different temperature tolerance and vaporizes at a different rate compared to THC and CBD."
Additionally, Dr. Pal led efforts with regards to Nextleaf's collaborative research project with the University of British Columbia (UBC), and British Columbia Institute of Technology (BCIT) under the auspices of an NSERC grant. The project was anchored in a sustainability-driven outcome with the goal to repurpose post-extraction cannabis biomass, and minimize waste byproducts.
Hemp biomass, when reduced to ash under Nextleaf's incineration process, shows considerable promise as a replacement for fly ash as a key ingredient in Portland Cement due to the silica content. When leveraged as a biofuel during hemp ash production, power is generated and metric tonnes of biomass can be diverted from landfills and used as a supplementary cementitious material. Current estimates indicate close to a billion kilograms of biomass being harvested annually by the marijuana and hemp industry.
"We were adamant on finding an environmentally conscious way to put cannabis biomass waste used in our extraction process to good use, and the evidence suggests we've found it," stated Paul Pedersen, CEO of Nextleaf Solutions. "These two R&D projects speak to Nextleaf's talent for research collaboration and technological innovation, key pillars in our growth strategy."
CannTrust Holdings Inc. (TSX: TRST) (NYSE: CTST) provided an interim update concerning certain recent developments affecting the Company.
After trading hours on Friday, August 9, 2019, CannTrust received a report from Health Canada notifying the Company that its manufacturing facility in Vaughan, Ontario has been rated non-compliant with certain regulations. CannTrust has accepted Health Canada's findings and remedial actions are underway.
Heath Canada's rating was based on observations made during an inspection completed during the period July 10-16, 2019, which noted:
● The conversion of five rooms from operational areas to storage areas, which were used for storage since June 2018 without prior approval of Health Canada;
● The construction of two new areas without prior approval of Health Canada, one of which was used to store cannabis since November 2018;
● Insufficient security controls at the manufacturing facility;
● Inadequate quality assurance investigations and controls;
● Standard operating procedures that did not to meet the requirements under regulations; and
Documents or information that were not retained in a manner to enable Health Canada to complete its audit in a timely manner.
As previously announced, the Company implemented a voluntary hold on the sale and shipment of all cannabis products while Health Canada reviewed its Vaughan, Ontario manufacturing facility. CannTrust continues to work closely with Health Canada and will provide further details of the hold and other developments as they become available.
Under the direction of the recently constituted independent Special Committee of the board of directors of the Company and newly-appointed interim CEO, Robert Marcovitch, the Company has already begun the process of investigating and remediating the root causes of any non-compliance and expects to propose a robust remediation plan to Health Canada.
The Company's CEO Robert Marcovitch stated: "We are continuing to work hard to regain the trust of Health Canada, our patients, shareholders and partners. We have retained independent consultants who have already started addressing some of the deficiencies noted in Health Canada's report. We are looking at the root causes of these issues and will take whatever remedial steps are necessary to bring the Company into full regulatory compliance as quickly as possible."
Although the Company, under the supervision of the Special Committee, is preparing a remediation plan for submission to and consideration by Health Canada, Health Canada has advised the Company that it is currently unable to provide any guidance about the timing or content of its decisions concerning the Company.
Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF) announced that it has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its class A subordinate voting shares on the TSX.
"This represents another important milestone for Canopy Rivers and demonstrates the Company's continued growth and commitment to driving shareholder value," said Narbe Alexandrian, President and CEO of Canopy Rivers. "We believe that a TSX listing will substantiate our strong commitment to corporate governance and provide us with exposure to a broad new investor base that will enhance liquidity."
Final approval of the listing is subject to Canopy Rivers meeting certain standard and customary conditions required by the TSX. Upon receipt of final TSX approval, Canopy Rivers' Subordinate Voting Shares will be voluntarily delisted from the TSXV and commence trading on the TSX under the ticker symbol "RIV".
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