Investor Ideas #Potcasts: #Cannabis News and #Stocks on the Move: (TSX: $APHA.TO), (CSE: $GGB.C), (TSX: $NEPT.TO), (CSE: $TGIF.C), (CSE: $CHM.C)
Delta, Kelowna, BC –April 15, 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 insights from thought leaders and experts.
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Read this in full at https://www.investorideas.com/news/2019/cannabis-potcasts/04151APHA-GGB-NEPT-TGIF-CHM.asp
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 experts and industry leaders.
Today we are looking at announcements from Aphria Inc. (TSX: APHA) (NYSE: APHA), Green Growth Brands Inc. (CSE: GGB) (OTC:GGBXF), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), 1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF) and Chemistree Technology Inc. (CSE: CHM) (OTCQB: CHMJF).
Aphria Inc. (TSX: APHA) (NYSE: APHA) today announced that it has entered into a series of transactions that will accelerate the expiry date to April 25, 2019 for the previously announced take-over bid by Green Growth Brands Inc. (CSE: GGB) (OTC:GGBXF) and will terminate the arrangements with GA Opportunities Corp. for consideration of $89.0 million.
Irwin D. Simon, Aphria's Chairman and Interim Chief Executive Officer stated, "We are very pleased to move forward with this favorable resolution as we continue to focus on the long-term growth of our leading cannabis business. We plan to use the $89.0 million in proceeds from the transaction to fund our strategic global expansion initiatives. On behalf of our Board of Directors and management team, we continue to recommend that Aphria shareholders reject the GGB offer and do not tender their Aphria shares to the GGB offer."
Aphria has entered into a shortened deposit period agreement with GGB to facilitate the acceleration of the expiry of GGB's offer to purchase all of the issued and outstanding shares of Aphria (the "GGB Offer"). In that regard, Aphria has agreed to reduce the initial deposit period of the bid to 92 days from January 23, 2019, the date that GGB commenced the GGB Offer. GGB will be mailing a Notice of Variation providing that the GGB Offer will expire at 5:00 p.m. on April 25, 2019. Based on the closing price of $3.86 per GGB share on the Canadian Securities Exchange ("CSE") on April 12, 2019, the implied consideration under the GGB Offer would be $6.07 per Aphria share, representing a significant 54.7% discount to Aphria's closing price on the Toronto Stock Exchange of $13.41 per share on the same day.
In light of the foregoing and for the reasons previously disclosed, Aphria continues to recommend that Aphria shareholders reject the GGB Offer and do not tender their Aphria shares to the GGB Offer.
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) announced that its Solutions Business has begun offering turnkey product development solutions with hemp-derived ingredients to business customers in the United States. A U.S.-based supply chain of licenced hemp extract producers has been established, and initial purchase orders are now being processed.
Neptune boasts long-standing experience in the management of custom and white label turnkey product development solutions comprising a diverse array of product forms including softgels, liquids, topicals, emulsions, and water-dispersible powders. Branded ingredients and products that have contributed to Neptune's success, such as MaxSimil® and ECSentialsTM formulations, could potentially be used in unique combinations with hemp ingredients, particularly as the U.S. regulatory framework around hemp extracts and cannabidiol (CBD) evolves.
"The U.S. market for hemp is developing rapidly and represents a significant opportunity for the consumer products industry. Neptune is now offering products and services to American brands that want to create a unique hemp-based portfolio, with products made exclusively in the U.S. for the U.S." said Jim Hamilton, President and CEO of Neptune.
1933 Industries Inc., a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, announced the execution of an exclusive licensing agreement (the "Agreement") between Gotti's Gold Ex LLC and Alternative Medicine Association LC ("AMA"), for the launch of Gotti's Gold in Nevada, a new line of branded cannabis products in partnership with legendary hip-hop artist Kurupt. The Agreement expires on November 9, 2019, and is subject to renewal for an additional twelve (12) month term.
Gotti's Gold is an exclusive premium collection of fine cannabis products intended to appeal to adult-users of all demographics. Having served as Executive Vice President of Death Row Records, Kurupt is one of the most influential hip-hop artists in the business, playing an instrumental role in the launch of the early careers of some of the biggest names in hip-hop from 2Pac and Warren G to Dr. Dre and Snoop Dogg. Kurupt entered the cannabis business as the original creator of now world-famous Moonrocks, and has been working with AMA since 2017, when it launched "The Real Kurupt's Moonrocks" in Nevada.
"We've teamed-up once again with the legendary Kurupt and we are proud to continue to build on our relationship with the launch of Gotti's Gold in the active Las Vegas market," said Mr. Joe Bleackley, Chief Operating Officer of the Company. "AMA has delivered consistent product quality and we are honored that Kurupt has selected AMA as a partner for his new line of premium products."
Chemistree Technology Inc. (CSE: CHM) (OTCQB: CHMJF). announced that its wholly owned U.S. subsidiary, American CHM Investments Inc. has signed a letter of intent to partner with Applied Cannabis Sciences of New Jersey, a New Jersey-based medical retail dispensary applicant in the upcoming New Jersey round of Request for Applications, which is anticipated in 2020.
Applied Cannabis Sciences has been established by a team of seasoned professionals from the legal medicinal and adult use marijuana industry whose collective experience exceeds 50 years and includes over 20 cultivation, processing, and manufacturing licenses across four states (Washington, Oregon, California, and Colorado) within the U.S. The ACS team is predominantly made up of professionals that reside and currently operate from New Jersey and maintain multiple strategic relationships. Recently appointed Chemistree board member, Nico Escondido, is a founding member of the ACS team.
The application, if successful, will provide ACS with a fully integrated cultivation, manufacturing/processing and retail sales license in the state of New Jersey of which there are currently only 12 issued.
"We are excited about partnering with ACS, a highly experienced group recognized in the medical and recreational cannabis space that bring a track record of innovation and success. The potential to expand Chemistree's presence outside of California and Washington state and ultimately introduce our signature brand Sugarleaf to the large New Jersey consumer base by partnering with ACS is consistent with our growth strategy," stated Karl Kottmeier, President of Chemistree. "New Jersey is home to over nine million people currently being served by only 12 cannabis operators in its medical program. New Jersey is a logical place for Chemistree to expand into and bring the Sugarleaf brand to the New Jersey market. I would like to specifically thank Nico Escondido, our newest board member for the introduction to this exciting opportunity and I am impressed with the significant impact he is already clearly having on our Company."
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