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Delta, Kelowna, BC –October 21, 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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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 of today’s early announcements.
Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, announced the retail launch of its Pura Earth™ derma-cosmetics line of CBD products, which are now available at approximately 59 high-end retail locations throughout Colombia, including Blind prestige beauty shops and Cromantic professional beauty markets.
Avicanna's Anti-Aging Treatment, Anti-Aging Serum, Clear Skin Treatment and Intensive Skin Conditioning Treatment, which are the first four of the nine Pura Earth product lines, are currently available at retail. Additionally the Pura Earth line will be offered on e-commerce platforms, including Percos, Cormantic, and Blind, as well as Avicanna's own platform, which is currently dedicated to Pura Earth.
The registration of the Pura Earth products as final products in Colombia will enable Avicanna to export such products into international jurisdictions that permit such products. Avicanna expects to launch the Pura Earth brand in additional international jurisdictions in early-2020.
The Pura Earth products were produced with Avicanna's proprietary formulations using cannabidiol ("CBD") isolate extracted by the Company's majority owned subsidiary, Santa Marta Golden Hemp S.A.S. ("SMGH"), from cannabis grown and cultivated by SMGH in Santa Marta, Colombia. SMGH's CBD isolate is derived from its USDA organic certified hemp (non-psychoactive cannabis). Additionally, the Pura Earth products will be supported by clinical data from studies conducted by the Centro de Atención e Investigación Médica CAIMED S.A.S. in collaboration with Avicanna.
"We are thrilled to start offering customers the world's first premium CBD skin care line with advanced formulations and substantiated claims through clinical evidence. The initial launch of Pura Earth in Colombia at these prestige beauty retailers is just the beginning of our global commercial strategy. Our vertically integrated operations have the scalability to support manufacturing a full range of premium CBD products and supply the global marketplace," stated Aras Azadian, Avicanna's Chief Executive Officer.
Colombia is one of the top four cosmetics markets in Latin America showing high growth rate in the cosmetics industry. The Latin America cosmetics industry is continuously expanding and has placed itself as one of the fastest growing and most vibrant cosmetic markets across the world. As per Goldstein Research, Latin America cosmetics market has reached a value of USD $31.98 billion in 2017 and is anticipated to grow at a CAGR of 4.49% during the forecast period 2017-2025.
Indiva Limited (TSXV:NDVA) (OTCQX:NDVAF) announced that Health Canada has approved its licence amendment, adding 10,000 square feet of production space, including three new grow rooms and two additional processing rooms. This additional square footage will, subject to applicable regulatory approvals, be used to manufacture edibles, increase Indiva's flower production capacity, and enable new growth in the production, manufacturing, processing and refinement arms of the business.
"We are excited to open up these five additional rooms. This new space significantly increases Indiva's revenue potential by adding more capacity to our production, processing and refinement operations," Niel Marotta, Indiva's President and Chief Executive Officer, said. "The approval of this licence amendment powers the next step in our journey; infusing our cannabis into gourmet chocolate as well as other derivative products. We stand committed to following Health Canada's regulations and are proud to receive clearance to continue forward with our strategy to meet the expectations of our supply agreements with provincial wholesalers. We look forward to bringing our exceptional cannabis and cannabis-infused products to more Canadians."
Indiva intends to begin populating its three new flower rooms immediately. The cannabis grown in this space is expected to be turned into flower, pre-rolls, oil and distillate. The two newly-licensed processing rooms are expected to be dedicated to Indiva's pre-roll production and chocolate manufacturing operation.
Indiva also announced plans to submit its evidence package to Health Canada for the final phase of its London, Ontario facility by the end of October. Once licensed, this will provide an additional 10,000 square feet of processing space.
THC BioMed Intl Ltd. (CSE: THC) (OTC: THCBF) announced that it has purchased, through its subsidiary THC BioMed Ltd., an additional strata lot in the industrial complex in Kelowna it currently occupies.
THC previously announced the purchase of additional strata units in the same building in July, April, March and January of this year and in December, October, and June of 2018.
THC purchased this property as a part of its expansion plan due to high demand for its products. The new strata lot will be used for production purposes.
The purchase price was $391,500 plus fees and taxes, for a total of $400,148.82. THC purchased the strata lot for cash and did not require a mortgage.
FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF), a technology company focused on the analytical cannabis and hemp testing market, announced that it has been selected as one of the top 15 up and coming startups of the year by StartUp Calgary. As a result of its selection FluroTech will have a booth at the 10th Annual Launch Party at The Big Four in Stampede Park in Calgary on Tuesday, November 12 from 6:00 PM to 9:00 PM. Anyone interested in learning more about FluroTech or any of the other great Calgary startups are encouraged to join the evening’s festivities.
“We appreciate the community nominations and the recognition by StartUp Calgary of our efforts. Transitioning from the research stage to sales is a major milestone for the Company this year,” stated Danny Dalla-Longa Chief Executive Officer. “We are excited to showcase FluroTech and the CompleTest™ amongst an amazing cohort of startups, entrepreneurs, community leaders and investors.”
FluroTech’s proprietary spectroscopy-based technology was originally developed by Dr. Elmar Prenner at the University of Calgary and is now being commercialized for the cannabis and hemp industries. The CompleTest™, an affordable and easy-to-use analytical testing device, allows growers, brokers, and extractors of cannabis to reliably and accurately test for potency or contaminants in a fast and affordable manner.
Nutritional High International Inc. (CSE: EAT) (OTCQB: SPLIF) announced that it has entered into a five-year binding framework agreement with Golden Triangle Health Company Ltd. to manufacture and distribute branded products in North America, effective immediately. To begin, Golden Triangle clients will import products to the US to be infused and packaged.
Golden Triangle is a Thailand-based health and wellness company with a strong family of brands including Smooth-E, P80 Natural Essence, Siang Pure Oil, SLC Clinic and the Traditional Thai Herbal Association. Golden Triangle is actively soliciting additional brands from Asia to its portfolio specifically with the purpose of manufacturing and distributing CBD and Cannabis infused products in North America and once permitted, in Asia and Europe. Nutritional High will be responsible for providing North American market assessments for the Clients’ products, and for those products selected will be responsible for infusion, packaging, marketing, distribution and sales of those products in jurisdictions where they are legal.
Products targeted for import already have a strong following in Asia and will initially include: P80 Natural Essence, an all-natural Longan juice clinically proven to improve sleep and made using an exclusive manufacturing process; Siang Pure Oil Red, a topical oil derived from 100% natural herbal ingredients and designed to relieve various bodily discomforts such as aches and insect bites; and Smooth-E Facial Cream, recommended by dermatologists and pharmacists to diminish scars, heal chapped skin and smooth away wrinkles. Nutritional High will also work closely with SLC Clinic and the Traditional Thai Herbal Association to bring additional brands and product lines to North America. SLC Clinic is the leading provider of skin care solutions in Thailand and the Traditional Thai Herbal Association has proprietary formulations for an array of organic herbal products including food, drinks, bath and body, cosmetics, and skin care.
As per the Agreement, the Company will receive a sales fee totaling 35% of gross sales, as well as a fee for each initial product assessment plus applicable expenses. The Company will receive 75% of the sales fee and Golden Triangle will receive 25%. As consideration for entering into the Agreement, Nutritional High has issued 1,050,000 common shares of the Company to Golden Triangle.
“We are proud to have attracted Golden Triangle as a key strategic partner to allow us to be a first mover in Asian focused products, and eventually in Asia,” commented Nutritional High CEO, Adam Szweras. “Golden Triangle is licensing successful products throughout Asia and this partnership allows us to leverage our extensive distribution network and robust manufacturing footprint for a brand-new emerging category with limited risk.”
The partnership between Golden Triangle and Nutritional High is a result of the collaborative efforts between the Company and Tom Kruesopon. Based in Thailand, Mr. Kruesopon is a political operator and businessman who played a major role in advocating for cannabis legalization in his home country. Cannabis was legalized for medical use in Thailand in December 2018.
“The cannabis industry in Thailand is still in its infancy but there are a plethora of opportunities in North America,” added Mr. Kruesopon. “Nutritional High is building a strong brand offering and combined with their existing infrastructure, is the perfect partner for Golden Triangle’s foray into North America. The reverse is true as well. As we see the cannabis industry mature in Thailand and the rest of Asia, Nutritional High will have a dedicated partner on the other side of the Pacific ready to expand into Asian markets as regulations permit.”
The Company's unaudited condensed interim consolidated financial statements and management's discussion and analysis of financial results for the six months ended September 30, 2019 will be available on the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on the Company's website at www.canopyrivers.com/investors/financials-and-public-filings.
Certain preliminary financial information pertaining to the Company may also be found in the financial results released by Canopy Growth Corporation (TSX: WEED) (NYSE: CGC), which are currently scheduled to be released on November 14, 2019. All financial information with respect to the quarter pertaining to the Company in the financial results of Canopy Growth Corporation are preliminary and are unaudited and subject to change and adjustment as the Company prepares its consolidated financial statements for the six months ended September 30, 2019. Accordingly, investors are cautioned not to place undue reliance on the preliminary financial information. The preliminary financial results constitute "forward-looking information" within the meaning of applicable Canadian securities laws and are subject to a number of risks and uncertainties. Actual results may differ materially. See "Forward-looking Statements".
Following the release of its second quarter fiscal year 2020 financial results, Canopy Rivers will host a conference call and audio webcast with Narbe Alexandrian, President and CEO and Eddie Lucarelli, CFO at 10:00 AM Eastern Time on November 14, 2019.
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