Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 505 (CSE: $PULL.C) (TSXV: $HITI.V) (TSX: $WEED.TO) (NASDAQ: $CGC) (TSXV: $ENW.V)
Delta, Kelowna, BC, December 9, 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.
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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 will be looking at a few private and public company announcements.
Pure Extracts Technologies Corp. (CSE: PULL), a plant-based extraction company focused on cannabis, hemp and the rapidly emerging functional mushroom sector, announced that it has signed a letter of intent (LOI) with The Nutraceutical Medicine Company Inc., owner of the PURICA™ brand of full-spectrum mushroom derived wellness products, to support Pure Extracts’ expansion into the functional mushroom sector and to co-develop CBD-full-spectrum mushroom wellness combinations.
PURICA has a track record of more than 20 years of bringing its customers the very best that nature has to offer; skillfully-formulated natural and whole food products solidly-backed by science. Based in Duncan, B.C. on Vancouver Island, PURICA is an award-winning company whose Immune 7 formulation has been named by Canadian retailers two years running as the gold award winner as the best immunity product in Canada in the prestigious alive Awards (2019 and 2020).
PURICA is also a leader in educating the public about the uses and benefits of medicinal full-spectrum mushrooms with formulations targeting immunity and stress relief, sleep, heart health, weight management, endurance, performance, hormonal balance and a host of other conditions.
Pure Extracts CEO, Ben Nikolaevsky, commented, “We are excited to be working with the experts at PURICA on functional mushroom products and novel CBD formulations. They have an impressive history of product development, customer retention and an unwavering dedication to high standards.”
The marriage of full-spectrum mushroom extracts and CBD would be a ground-breaking achievement and would uniquely position Pure Extracts at the confluence of two very powerful trends – the rapid adoption of CBD oil as a mainstream medicinal product and the explosive growth of functional mushroom wellness products. With the help of Pure Extracts’ scientific advisor, Dr. Alexander MacGregor, President of the Toronto Institute of Pharmaceutical Technology, the Company believes that it can expedite the formulation of this new category of wellness products with the highest bioavailability in the market today.
High Tide Inc. (TSXV: HITI) (OTCQB: HITIF), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of smoking accessories, announced that it has submitted an initial application to list on The Nasdaq Stock Market, and has retained Pryor Cashman LLP as legal counsel. The Company is pursuing a Nasdaq listing to enhance its investor profile as a part of its capital markets initiative with the goal of enhancing shareholder value. This initiative allows the Company to accelerate its business strategy focused on the United States, both in attracting institutional and retail investors and M&A opportunities within the US. The Company already earns approximately 23% of its revenue in the US, and is seeking to expand its footprint in the US in businesses that complement the Company's business divisions that focus on CBD and accessories, while ensuring that it remains in compliance with all applicable laws and regulations in the US.
"We are very excited about the prospect of listing on Nasdaq. With our recent acquisition of Meta Growth, we are now the largest Canadian retailer as measured by revenue. Listing on Nasdaq would allow the Company to expand its shareholder base, enhance shareholder value and accelerate the Company's M&A initiatives in pursuing strategic opportunities in the US." said Raj Grover, President and Chief Executive Officer.
In advance of an anticipated listing on Nasdaq, High Tide will file a Registration Statement with the United States Securities and Exchange Commission. The listing of the Company's common shares on Nasdaq remains subject to the review and approval of the listing application and the satisfaction of all applicable listing and regulatory requirements, as well as effectiveness of the registration statement. The Company will continue to maintain the listing of its Shares on the TSX Venture Exchange under the symbol "HITI."
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) today announced a series of Canadian operational changes designed to streamline its operations and further improve margins.
Canopy Growth will cease operations at the following sites: St. John's, Newfoundland and Labrador; Fredericton, New Brunswick; Edmonton, Alberta; Bowmanville, Ontario; as well as its outdoor cannabis grow operations in Saskatchewan. Approximately 220 employees have been impacted as a result of these closures.
"As part of the end-to-end review of our operations that we outlined during our second-quarter earnings call, we have made the decision to close a number of our production facilities. These actions will be an important step towards achieving our targeted $150-$200MM of cost savings and accelerating our path to profitability. We are confident that our remaining sites will be able to produce the quantity and quality of cannabis required to meet current and future demand," said David Klein, CEO, Canopy Growth. "This was a difficult decision but I believe it is the right one. I want to thank all of the employees impacted by this decision for their efforts in helping build Canopy Growth."
These decisions are the partial outcome of an ongoing end-to-end review designed to improve the Company's margins. The end-to-end review was announced during the Company's Q2 earnings call and looks at people, process, technology, and infrastructure. The Company expects to record estimated total pre-tax charges of approximately $350-400MM in the third and fourth quarters of Fiscal 2021.
The production sites impacted represent approximately 17% of the Company's enclosed Canadian footprint and 100% of its Canadian outdoor production footprint.
EnWave Corporation (TSX-V: ENW) announced today the successful research and development results of a new terpene retention process for drying cannabis using Radiant Energy Vacuum (“REV™”) dehydration technology.
Third-party, lab-verified results demonstrate that EnWave’s patented REV™ technology can deliver a higher percentage of retained terpenes, approximately 10% higher, than traditional cannabis drying methods such as air drying or rack/room drying. The Company offers scaleable, continuous REV™ machinery that can process up to 28 metric tons of high-terpene, dried cannabis per year using the Terpene Max™ process, and up to 46 metric tons of dried cannabis to be used for extraction purposes per year.
This new process, branded as Terpene Max™, further demonstrates the advantages of the Company’s scaleable, proprietary vacuum-microwave drying technology for the global cannabis industry. Terpene Max™ ensures that drying temperatures remain well below 40 degrees Celsius for the entire drying process, which takes less than two hours.
The chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6e0f4eb4-c3f4-4f77-b798-a234a3f713cc
Chart: The data in the chart above was analyzed at an independent testing facility. The results shown represent the average percentage of terpenes retained from three separately analyzed samples of the same batch of dried cannabis.
The initial quantitative results from using the new Terpene Max™ drying program on a specific low-THC cannabis strain demonstrated an average terpene retention level of 88 percent when compared to the fresh flower, making it materially superior to traditional air or rack/room drying where terpene retention averages 79 percent.
The tests were conducted for the Company by accredited, third-party testing facilities using cannabis product dried with large-scale, continuous REV™ technology at a licensed partner’s facilities against standard room-dried protocols. Further data, analysis and certified results will be released in a white paper that will be published in January 2021.
Terpenes are known to have therapeutic effects and are foundational to aromatherapies. Industry research shows that terpenes from cannabis work synergistically with cannabinoids to deliver a better user experience.
EnWave believes that the Terpene Max™ process has the potential to create an ultra-premium consumer product. The Company will be executing further trials with multiple cannabis strains in the coming months to understand the full potential of Terpene Max™ on ultra-premium combustible flowers.
Since obtaining Health Canada’s approval for its independent cannabis research and development lab, EnWave has used this opportunity to expand research and to develop programs such as Terpene Max™. With a fully commissioned R&D facility, the Company is now available to perform cannabis testing and demonstrations for prospective partners evaluating the use of REV™ technology to process cannabis.
With EnWave now able to conduct on-site trials with various cannabis strains, the perceived technology risk is reduced for prospective licensees.
REV™ drying technology provides cannabis producers with a rapid and gentle drying solution that produces premium cannabis products for both extraction and combustion while significantly reducing processing delays. The REV™ process can also reduce the bioburden in the product and lowers the risk of crop loss due to microbes and other quality issues. REV™ has been embraced by several licensed cannabis and hemp producers in Canada, Switzerland, New Zealand, Australia, and the United States of America.
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