Investor Ideas #Potcasts 568, #Cannabis News and #Stocks on the Move; (TSX: $VLNS.TO) (OTCQX: $VLNCF) (TSX: $WEED.TO) (NASDAQ: $CGC) (CSE: $AAWH.U.C) (NEO: HALO) (OTC: $HCANF)
Delta, Kelowna, BC, May 21, 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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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 company announcements.
The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF), a leading manufacturer of cannabis products, announced that it has received its first purchase order for Valens-manufactured products from Cannabis NB, a subsidiary of New Brunswick Liquor Corporation (ANBL) and the only legal recreational cannabis retailer in New Brunswick. With this purchase order, The Valens Company becomes an official supplier of cannabis products in the Province of New Brunswick.
"Our expansion into New Brunswick marks the third regional market we have entered since the beginning of 2021– a milestone we are incredibly proud of," said Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company. "While we recently announced our first foray into the CBD market in the US, we also remain committed to continuing our growth here at home in Canada as we continue to increase sales channels expected to drive revenues and national market share. We are focused on leveraging our expanding domestic distribution network to bring more Canadian consumers a range of new and unique products we expect to launch with our partners throughout the summer and beyond."
Cannabis NB currently operates 20 stores across 15 communities and offers a diversified portfolio of cannabis products including flower, extracts, concentrates, edibles, beverages and accessories. Valens' first shipment to New Brunswick will include a range of products from categories such as flower, pre-rolls, vapes and concentrates, with the opportunity to expand this offering in the coming quarters. Products created in partnership with Verse Cannabis will be included in the first shipment, such as the Verse Originals vape cartridges in Summer Berry and Sunset Peach and the newly launched Live Terp Killer Kush vape cartridge from the Verse Concentrates line. One of the first of its kind in the Canadian cannabis market, the Live Terp Killer Kush vape cartridge is comprised of pure live cannabis terpenes in a full spectrum extract created from fresh, flash frozen ultra-premium and BC-sungrown Killer Kush cannabis, offering a rich terpene profile. Valens-manufactured products are expected to be available in store and online in New Brunswick at the beginning of the third quarter.
In addition to New Brunswick, the Company's distribution network also includes Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, and Yukon Territory. Valens continues to engage in discussions to bring its high-quality products to other private and government-regulated retailers across the country.
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, CBD and vaporization device company announced the appointment of Martha Stewart as the company's official strategic advisor. In this new role, Martha will expand upon her existing relationship with the company, leveraging her vast knowledge of product development and branding expertise, to provide the company with dedicated counsel ranging from product innovation to format development and strategic partnerships.
Martha's appointment comes on the heels of the successful launch of Martha Stewart CBD in partnership with Marquee Brands and Canopy Growth. Launched in Fall 2020, the product line offers high-quality, CBD wellness supplements including gummies, softgels, and oil drops with flavor profiles inspired by some of Martha's most popular recipes. Martha Stewart CBD for Pet also launched earlier this year and includes oil drops and soft-baked chews in three gourmet flavor combinations and formulas designed to support pet mental and physical well-being.
Since launch, the product line-up has extended into top-selling gift boxes for occasions including Mother's Day and Valentine's Day, which sold out prior to the holiday due to high consumer demand. As mainstream awareness for CBD continues to increase, coupled with Martha's legacy as a trusted source for living well, the product line will continue to serve as a key area of growth for the business.
"Canopy Growth is committed to providing consumers with trusted CBD products with quality ingredients, and Martha Stewart has been a champion of our commitment since the inception of our partnership," said David Klein, Chief Executive Officer of Canopy Growth. "We are thrilled to deepen our relationship with Martha through this new advisory role. With her expansive business acumen and years of experience with the Canopy team, together we'll unleash the power of CBD to improve lives and create an unparalleled portfolio of brands."
Martha will play a pivotal role in shaping Canopy's product innovation pipeline through her counsel in the development of novel concepts, formats, flavors and strategic alliances. From the curation of new Martha Stewart branded products to curating products for Canopy's wider portfolio of brands, Martha's advisory role will help shape the future of the company's product development trajectory.
"Over the past year, demand and awareness for CBD products has skyrocketed. Working with the top researchers and scientists at Canopy Growth, I saw first-hand how dedicated the company is in producing high quality, safe and consistent products," said Martha Stewart. "Deepening my relationship with the business is a natural fit given our aligned dedication and passion for bringing consumers innovative and quality CBD products and I'm thrilled to share the benefits of CBD with consumers all over the country."
As momentum for the brand continues and demand for the Martha Stewart CBD product portfolio grows, Canopy Growth has also signed a distribution deal with Southern Glazer's Wine and Spirits, the world's pre-eminent distributor of beverage alcohol, as the select distributor for Martha Stewart CBD across the U.S. market. The distribution deal follows the recent announcement with Southern Glazer's and Canopy Growth to distribute Quatreau, Canopy's first line of CBD-infused beverages sold in the U.S. market. Southern Glazer's will initially distribute Martha Stewart CBD across seven states, with additional states in the months to come.
Ascend Wellness Holdings, Inc. (CSE: AAWH.U), has announced the opening of its Rochelle Park, New Jersey medical-use dispensary. The opening marks AWH's second Ascend location in the state and the first dispensary to operate in Rochelle Park.
Located at 174 Route-17 N, the dispensary will benefit from its position along one of the most highly-trafficked corridors in the country, seeing over 100,000 vehicles per day on average. It is the first cannabis dispensary to open in Rochelle Park, offering patients access to a wide selection of high-quality products across flower, pre-rolls, vapes, ingestibles and topicals.
The dispensary will employ 65 staff and immediately begin accepting new patients. The store is designed to accommodate high throughput, providing multiple customer touchpoints and offering patients express service through its streamlined online ordering and in-store pickup.
"We are thrilled to open Ascend Rochelle Park and remain committed to meeting patients' needs through an elevated patient journey," said Chris Melillo, Chief Revenue Officer of AWH. "Built to complete the customer purchase process quickly and at scale, our new location will help meet the rising demand for affordable, safe medical cannabis products in New Jersey. We are grateful for the support of Deputy Mayor Gail Artola and Rochelle Park residents in the opening of our dispensary."
There are currently 13 medical-use dispensaries in New Jersey serving the state's more than 100,000 registered medical marijuana patients. Ascend Rochelle Park dispensary is a key addition to New Jersey that will increase supply of medical cannabis products to better meet patients' needs.
AWH has proudly partnered with the Last Prisoner Project, a nonprofit organization dedicated to cannabis criminal justice reform, as part of its social equity and corporate responsibility initiative. AWH has matched the $125,000 total raised in customer donations ahead of the July 2021 goal.
Halo Collective Inc. (NEO: HALO) (OTC: HCANF) announced that its wholly-owned subsidiary Bophelo Bioscience & Wellness (Pty) Ltd. today welcomed Lesotho's Prime Minister, The Rt. Honorable Dr. Moeketse Majoro and six of his Cabinet Ministers to tour Bophelo's site. Ms. Louisa Mojela, the Executive Chairman of Halo and the Founder and Chairman of Bophelo, affirmed the groundbreaking opportunity created by the Lesotho Government by being the first country on the African continent to legalize the growing and cultivation of medicinal cannabis. On behalf of Halo and Bophelo, Ms. Mojela expressed her most profound gratitude for the Prime Minister and his cabinet's momentous visit. This important milestone for the country has brought meaningful and transformative change to the community and contributes to Lesotho's economy.
The Prime Minister has declared the Mafeteng area as the first Special Economic Zone ("SEZ") in Lesotho and the first in the world to include medicinal cannabis. Bophelo is currently the only enterprise that is fully operating in the SEZ and has plans to further maximize the benefits afforded by the zone. To the Company's knowledge Bophelo is the first cannabis company in the world to be part of an SEZ. The Mafeteng Special Economic Zone was created to attract the leading private sector participants to develop a center of innovation for the agriculture and pharmaceutical industries.
Halo and Bophelo have made great strides in developing the local labor force and infrastructure, becoming one of the larger employers in Lesotho with hundreds of local employees.
Andreas Met, Managing Director of Bophelo and Co-Founder of Halo, says, "It was a great honor to show our accomplishments—and specially to introduce our young Basotho leadership team, including Moeti Marai and Puleng Mabula. It's incredible to be working hand-in-hand with a national government that shares our mission and fully supports the cultivation of medicinal cannabis as a key industry, understanding the huge positive impact cannabis can make in peoples' lives as both a medicine and an economic driver wealth creation for the people of Lesotho."
Halo and Bophelo are expected to receive both Good Manufactures Practices ("GMP") and Good Agricultural and Collection Practices ("GACP") certifications from the quality growing and manufacturing consultant, Pharmaconsulta Ltd., following multiple site visits and a comprehensive review of the company's standard operating procedures. With the addition of these certifications, the company will be able to supply the European market with sun-grown quality cannabis and further invest in African economies and provide growing support for the people of these communities.
Ms. Mojela said, "Bophelo is committed to developing young talent through the creation of much-needed jobs, transfer of skills, and enterprise development. I am personally committed to creating a company that has strong environmental, social and corporate governance ("ESG") principles."
In addition, Kiran Sidhu, CEO of Halo, states: "We have remained committed to building a strong relationship with Lesotho over the past few years, we have tried a lot of different cannabis strains over the past two years and gained valuable knowledge to be able to produce very profit-oriented cannabis flower on a large scale."
Sidhu continues: "We are thrilled to be a part of Lesotho's economic growth and additionally to create work and learning opportunities for young people. This program will only grow with the GACP certification and remains our stated priority."
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