Investor Ideas #Potcasts Episode 411- #Cannabis News and #Stocks on the Move– (OTC: $CSUI) (NASDAQ: $CRON) (TSX: $CRON.TO) (TSXV: $KHRN.V) (CSE: $TRUL.C) (CSE: $INDS.C) (CSE: $JUSH.C)
Delta, Kelowna, BC, May 8, 2020 (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.
Listen to the podcast:
Read this in full at https://www.investorideas.com/news/2020/cannabis-potcasts/05081CSUI-CRON-KHRN-TRUL-INDS-JUSH.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.
Today’s podcast is sponsored by Cannabis Suisse Corp. (OTC: CSUI), a research & development company licensed under Swiss Cannabis and tobacco regulations to cultivate and sell cannabis. The Company's facilities for producing cannabis are based in Zurich.
The Company grows high quality, organic cannabis with sustainable, all-natural principles. Cannabis Suisse products are laboratory tested to ensure the end users have access to a standardized, safe and consistent product.
In today’s podcast we will be looking at a few public company announcements.
But first, in recent news, “top officials at the independent agency that oversees the Massachusetts marijuana industry say they’re confident they can safely reopen recreational pot stores if Governor Charlie Baker reverses his emergency order forcing the businesses to close amid the coronavirus pandemic.”
Cannabis Control Commission chairman Steve Hoffman told reporters after the agency’s monthly meeting Thursday that he believes Massachusetts marijuana shops can operate safely by employing curbside pickup, appointment-only shopping, and other similar measures adopted by retailers that have remained open (including medical marijuana dispensaries overseen by the commission).
Hoffman said he “wants it known” that the commission is prepared to monitor the facilities and enforce state rules, including around social distancing, should they reopen. And in his strongest comments yet on the controversial cannabis shutdown, he noted that Massachusetts is the only state where marijuana is legal to have completely closed its recreational (or “adult-use”) industry. Marijuana firms are ineligible for federal bailouts, because the drug remains illegal under US law.
“It is unfair that Massachusetts adult-use operators are the only ones that are shut down across the country and are not eligible for any kind of federal assistance,” Hoffman told reporters during a virtual press conference. “I have no concerns whatsoever that we can operate this business safely. I think we’ve demonstrated that we can do so on the medical side of the business... [and] I think there’s absolutely no reason we can’t do exactly the same thing on the adult-use side.”
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) today announced its 2020 first quarter business results.
“Cronos Group started 2020 energized and determined to continue to see through our core strategic initiatives to drive long-term and sustainable growth. This quarter, we moved closer to officially entering the Israeli medical cannabis market with our Cronos Israel operations preparing to sell PEACE NATURALS™ branded dried flower products to medical patients. The Israeli medical market is a growing channel, and we look forward to serving this market in 2020 and beyond,” said Mike Gorenstein, CEO of Cronos Group.
“Despite the challenges and uncertainty posed by the COVID-19 pandemic, we remain agile and focused as a business. Our brand portfolio continues to launch innovative products to consumers as we adapt to an online-first distribution model in both the U.S. and Canada. We continue to reach our stakeholders and consumers through creative digital marketing. And our product innovation and R&D projects continue to progress. We believe the mission of our Company, to improve lives through cannabinoid innovation, resonates especially well during these times. We remain well-positioned and committed to generating sustainable, long-term value for shareholders and are confident 2020 will be a successful building year for Cronos Group.”
Some of the First Quarter 2020 Highlights included:
● Net revenue of $8.4 million in Q1 2020 increased by $5.4 million from Q1 2019. The increase year-over-year was primarily driven by continued growth in the adult-use Canadian cannabis market, sales resulting from the launch of cannabis vaporizers to the Canadian market, including both adult-use and direct-to-consumer, and the inclusion of the Redwood acquisition in our financial results.
● Gross profit (loss) of $(6.5) million in Q1 2020 decreased by $8.0 million from Q1 2019. The decrease year-over-year was primarily driven by an inventory write-down of $8.0 million on dried cannabis and cannabis extracts, as well as an increase in the marginal production cost at our Peace Naturals Campus, as we continue working towards operating at full capacity after the repurposing of the facility in the fourth quarter of 2019.
● The Company incurred an inventory write-down of $8.0 million, on dried cannabis and cannabis extracts, primarily driven by fixed-price contracts negotiated prior to cannabis product price compression due to broader trends of oversupply in the Canadian market. If we were to adjust for the effects of the inventory write-downs, gross profit in Q1 2020, would have been $1.5 million, representing a gross margin of 18%. We anticipate further inventory write-downs in the short-term due to pricing pressures in the marketplace and the impact of the Company's operational repurposing of the Peace Naturals Campus.
● Reported operating loss of $45.1 million in Q1 2020 increased by $34.9 million from Q1 2019. The reduction year-over-year was primarily driven by an increase in general and administrative expenses as a result of increased headcount, internal review costs of $4.4 million related to the restatement of our 2019 interim financial statements, higher sales and marketing costs related to brand development, and research and development costs related to our Ginkgo partnership, activities at Cronos Fermentation, and spending on vaporizer innovation at the Cronos Device Labs research and development center.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTC: KHNRF) announced that President Chris Naprawa will present live at Canaccord Genuity's 4th Annual Global Cannabis Virtual Conference on Tuesday, May 12, 2020 at 11:40am ET (8:40am PT).
Canaccord Genuity's Annual Global Cannabis Conference is an investor-focused virtual event that engages a global network of leading players in the cannabis industry. To join the presentation from Mr. Naprawa visit: http://wsw.com/webcast/canaccord39/khrn
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), also announced that Chief Executive Officer Kim Rivers will present at the Canaccord Genuity's 4th Annual Cannabis Conference. The live presentation is scheduled for Tuesday, May 12, 2020, at 11 A.M. EST.
A webcast of Rivers' presentation will be available live on the "Investors Relations" section of Trulieve's website and can be accessed here: http://wsw.com/webcast/canaccord39/tcnnf. A replay of the presentation will be posted on the Trulieve website following the event.
Indus Holdings Inc. (CSE: INDS) (OTCQX: INDXF), announced that Mark Ainsworth, Indus Co-Founder and Chief Executive Officer and George Allen, Indus Chairman of the Board and Founder of Geronimo Capital, will present via webcast at the Canaccord Genuity 4th Annual Cannabis Conference on Tuesday, May 12, 2020, at 2:40 p.m. EST. They will also be available for one-on-one virtual meetings throughout the day with investors.
This virtual presentation comes weeks after the company announced its US$15.1 million recapitalization financing, along with its fiscal year end 2019 financial and operational results, and preliminary first quarter 2020 highlights. Mr. Ainsworth and Mr. Allen will discuss the company’s top priorities, which involve finalizing its cultivation expansion, improving operational efficiency, and focusing on the most profitable parts of the business. The company will present its strategic plan and path to self-sustaining profitability, operational improvements underway and 2020 go-forward strategy.
InMed Pharmaceuticals Inc. (TSX: IN) (OTCQX: IMLFF), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol (CBN), announced that Eric. A. Adams, President & CEO of InMed, will present a corporate overview as part of the upcoming virtual conference:
● Canaccord Genuity's 4th Annual Cannabis Conference on Tuesday, May 12th, 2020 at
12:00 PM PST / 3:00 PM EST.
12:00 PM PST / 3:00 PM EST.
A webcast of the presentation will be available at: http://wsw.com/webcast/canaccord39/imlff as well as from the Investor page of the InMed website at https://investors.inmedpharma.com/.
Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), a globally focused, multi-state cannabis and hemp operator, announced that Erich Mauff, Co-Founder, Co-President and Director of Jushi, will present in Canaccord Genuity’s 4th Annual Global Cannabis Conference to be held virtually on Tuesday, May 12, 2020.
Mr. Mauff will present via live webcast at 8:40 a.m. Eastern Time in Track 2. The live presentation can be accessed at the following link: http://wsw.com/webcast/canaccord39/jushf
Once again, today’s podcast was sponsored by Cannabis Suisse Corp. (OTC: CSUI), a research & development company licensed under Swiss Cannabis and tobacco regulations to cultivate and sell cannabis. The Company's facilities for producing cannabis are based in Zurich.
The Company grows high quality, organic cannabis with sustainable, all-natural principles. Cannabis Suisse products are laboratory tested to ensure the end users have access to a standardized, safe and consistent product.
Investor ideas reminds all listeners to read our disclaimers and disclosures on the
Investorideas.com website and 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
Learn more about our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
Investorideas.com podcasts are also available on iTunes, Spotify, Google Play Music, Stitcher, Spreaker, YouTube via Spreaker, iHeartradio and Tunein.
Potcasts is now a certified word mark Trademark on the blockchain through Cognate, Inc. CM Certification-Registration Number: 10468217708
About Investorideas.com - News that Inspires Big Investing Ideas
Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye .
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: CSUI is a paid featured cannabis stock on Investorideas.com More disclaimer info:
https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy:
Investor Ideas does not condone the use of cannabis except where permissible by law. Our site does not possess, distribute, or sell cannabis products.
Contact Investorideas.com
800 665 0411
