Investor Ideas #Potcasts 565, #Cannabis News and #Stocks on the Move; (CSE: $TRUL.C) (OTCQX: $TCNNF), (CSE: $EATS.C) (OTC: $EATBF) (TSX: $HEXO.TO) (NYSE: $HEXO)
Delta, Kelowna, BC, May 14, 2021 (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 podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
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https://www.investorideas.com/Audio/Podcasts/2021/051421-StocksToWatch.mp3
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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 public and private company announcements.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States, announced its results for the quarter ended March 31, 2021. The Company became a U.S. reporting company effective February 4, 2021 and the consolidated financial statements are reported in accordance with U.S. Generally Accepted Accounting Principles (GAAP). All currency is expressed in U.S. dollars.
Q1 2021 Highlights
● Achieved record quarterly revenues of $193.8 million, a sequential increase of 15% over Q4 2020
● Generated net income of $30.1 million
● Delivered Adjusted EBITDA of $90.8 million
● Achieved gross profit of $135.3 million and gross margin of 70%
● Delivered $60.4 million in cash flows from operations
2021 Operational Highlights and Recent Events
● Recently announced definitive agreement to acquire Harvest Health & Recreation Inc., the largest cannabis acquisition announced in the U.S. to date.
● Harvest reported first quarter revenue of $88.8 million and Adjusted EBITDA of $26.9 million
● Reported first full quarter of operations in Pennsylvania and opened phase 1 of our new cultivation facility adding 45,000 square feet for a total of 80,000 square feet of cultivation
● Well-positioned to become a first-mover, vertically-integrated operator in West Virginia through successful application wins and the recent acquisition of Mountaineer Holding
● Expanded our Florida operations by eight stores and 116,000 square feet of cultivation, ending the quarter with 82 stores and over 2 million square feet of cultivation in Florida
“During Q1 we continued to execute on growth in Florida as well as our national hub
expansions. Our record revenue and industry leading EBITDA margins demonstrate our continued focus on execution," stated Kim Rivers, Trulieve CEO. "The pending acquisition of Harvest will be transformative and will build on our profitability, expanding our runway for growth."
Rivers continued, "Our continued strength in our home state of Florida, as well as the build out of our northeast hub, with progress in Pennsylvania, Massachusetts and West Virginia, has generated momentum for an exciting remainder of the year. We expect many positive catalysts in the months ahead, which align well with the current political environment and heightened focus on cannabis in this country."
Trees Corporation announced the closing of the acquisition of 5 retail cannabis stores in Ontario previously licensed under the name Metro Cannabis. Three of the acquired stores are open and will operate under the TREES Cannabis brand with the remaining 2 stores anticipated to open early this summer.
Newly acquired stores to operate as TREES CANNABIS:
● 1735 Kipling Ave, Etobicoke – (OPEN NOW)
● 76 St. Claire Ave W, Toronto – (OPEN NOW)
● 5485 Dundas St E, Etobicoke – (OPEN NOW) (Toronto's first drive-through)
● 3812A Bloor St, Etobicoke – (Summer 2021)
● 62 Overlea Blvd, Toronto – (Summer 2021)
TREES also announced the opening of Toronto's first convenient drive-through cannabis retail service at 5485 Dundas St E, Etobicoke. Customers can order online and easily pick up their order without leaving the comfort and security of their car. The speed and convenience of the service is unique in Toronto and has already proven to be widely popular among customers.
Inclusive of this Transaction, TREES holds a portfolio of 15 retail cannabis stores in Ontario, with 5 locations currently open and an additional 10 stores anticipated to open through the summer and early fall of 2021.
In British Columbia, the Company is awaiting provincial approval to close its previously announced acquisition of 8 stores (5 in Victoria, 2 in Nanaimo and 1 in Vancouver). With 3 stores currently operating, the next 2 scheduled to open later this month, and the remaining 3 scheduled to open this fall, the TREES Cannabis brand is quickly re-establishing itself in British Columbia and building on its prior legacy of respect and loyalty among the Vancouver Island cannabis community.
Upon closing of the acquisition of the British Columbia stores, the Company will own and soon operate 23 stores across Canada and anticipates further growth this year through organic store openings and strategic acquisitions.
Eat Beyond Global Holdings Inc. (CSE: EATS) (OTC: EATBF), an investment issuer focused on the global plant-based and alternative food sector, announced that it has invested in Daydream Drinks Inc. Daydream is an Ontario-based beverage company that has created Canada's first sparkling water infused with hemp extracts and adaptogens.
Daydream's hemp oil contains below 0.03% CBD and zero THC, making Daydream a non-cannabis product. Hemp and adaptogens have a range of benefits, making them a suitable option for Canadian grocery and retail stores.
Eat Beyond joins Global Edge Investments, a Toronto-based investment and management company, and other industry veterans, such as Jorn Socquet, a 14-year executive from ABinBEV, as an early-stage investor in Daydream.
"When creating Daydream, our vision was based on the fundamental principle that there was a gap in the market for something that wasn't coffee or an energy drink, but instead a healthy, plant-based alternative, with no caffeine, sugar, or artificial sweeteners," said Alex Simonelli, Founder and CEO of Daydream. "Adaptogens help the body tap into natural energy reserves to provide focus and clarity. They are also well known for balancing stress levels by supporting the endocrine system, and keeping inflammation in check."
Daydream has seen impressive growth since launching in late 2019, with year-over-year revenue jumping 550 percent in 2020. The distinct, colourful gradient cans are comfortably on pace to reach more than 1000 stores across Canada by the end of 2021, a roughly 2,300 percent increase from its debut year. Projections show Daydream is on track for another triple-digit year of revenue growth.
"Eat Beyond welcomes its first beverage company to our ever-growing food technology portf
olio. We like the idea that not only can people eat better but drink better too," Eat Beyond CEO Patrick Morris said. "Daydream has shown impressive growth in its brief history and is well-positioned to capture even more of the beverage market in the years ahead. Its unique and strong branding has positioned it well in the industry for organic, word-of-mouth growth, which is critical for any product that contains hemp as an ingredient in Canada."
HEXO Corp (TSX: HEXO) (NYSE: HEXO) today announced Purchase and Sale Agreements in relation to its first US production facility, through a wholly owned US subsidiary. The ~50,000 sq. ft. facility, located in Northern Colorado, will provide US CPGs and consumers access to the Powered by HEXO® technology.
“Signing the Purchase and Sale Agreements is an important milestone as we continue to expand into the US market. The Colorado facility will be instrumental to successfully executing on our US strategy, which includes the supply of high quality Powered by HEXO ® technology to our current and potential multinational CPG partnerships in the United States,” said HEXO CEO and co-founder Sebastien St-Louis. “The facility will provide HEXO with the necessary infrastructure to begin production and enable the Company to continue expanding our joint-venture with Molson Coors to create Truss CBD-infused beverages, while also creating the necessary capacity to support future, non-beverage CPG partnerships.”
The Colorado production facility, HEXO’s first in the US, is zoned for production of a full range of cannabinoids and offers multiple operational capabilities. The site will support Powered by HEXO initiatives across the country, in compliance with all applicable laws and regulations.
Powered by HEXO® is the trusted solution for leading CPG companies to safely enter the cannabinoid market, combining HEXO's expertise in cannabis with CPG partners’ expertise in their industries to co-develop best-in-class cannabinoid-infused products.
The closing of the transaction is subject to a due diligence period as well as usual customary closing conditions, which is anticipated in the fourth quarter.
Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment.
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