Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move: (CSE: $ISH.C) (CSE: $VAPN.C) (OTCQB: $DIGP) (CSE: $TER.C) (CSE: $OH.C)
Delta, Kelowna, BC –August 28, 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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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 early announcements.
But first, Scott McLeod, Gimaa (Chief) of the Nipissing First Nations, Ontario, commented on recent developments between the Ontario government and the Nipissing First Nations. "Last week the Province of Ontario exercised authority outside of its jurisdiction by issuing eight cannabis retail licenses to First Nations communities. The Cannabis Act has downgraded the autonomy of First Nations to maintain jurisdiction and create laws in our own territories by forcing us to work with the Provinces instead of the Crown. First Nations must have fair access to the economic potential to benefit our communities that the lawful cannabis industry presents yet we are unnecessarily held back because an error in the legislation is not being addressed because of an impending election. Our communities cannot wait for the government to play politics with our sovereignty or our potential to create jobs and economic opportunities for our people. Our communities have been actively reaching out to Canadian Government officials urging them to address this issue because we cannot afford to wait and be left behind once again."
Inner Spirit Holdings Ltd. (CSE:ISH), a Canadian company establishing a national network of retail cannabis stores under its Spiritleaf brand, today announced it has filed its interim Financial Statements and corresponding Management's Discussion and Analysis for the quarter ended June 30, 2019. The filings are available for review on the Company's SEDAR profile at www.sedar.com as well as on the Company's website at www.innerspiritholdings.com.
"The lifting of the moratorium on cannabis retail store licences by Alberta Gaming, Liquor and Cannabis (the "AGLC") during the second quarter was precisely the springboard needed for Spiritleaf to advance its business strategy. We also completed an over-subscribed $10 million financing in the quarter to help us further support the Spiritleaf franchise network as well as open corporate-owned retail cannabis stores in select locations. During the second quarter, we had six Spiritleaf cannabis retail stores open, operating and generating financial results for the full period. By the end of the third quarter, we're projecting our operations to include up to 33 Spiritleaf retail cannabis stores, of which eight will be corporate-owned outlets," said Darren Bondar, President and CEO of Inner Spirit.
"We continue to implement our business strategy by efficiently and effectively opening franchised and corporate-owned Spiritleaf retail cannabis stores in key locations across the country. We are operating in four provinces and growing our brand presence with 33 Spiritleaf stores projected to be fully operating by the end of the third quarter and more than 40 by the end of this year. Our franchise model, bolstered by selectively located corporate stores in jurisdictions where they are permitted, is proving to be effective in helping us deliver top-quality retail shopping experiences to more than 250,000 Spiritleaf customers to date. We have strong support from our key strategic partners and shareholders – Auxly, HEXO and Tilray – and we remain laser-focused on expanding our retail network, enhancing our financial performance and creating value for shareholders," said Bondar.
Vapen MJ (OTCQX:VAPNF) (CSE: VAPN) a fully integrated agricultural technology, services and property management company in the regulated cannabis industry, announced that it has been granted patent #10,231,948 for their metered dose inhaler from the United States Patent and Trademark office.
This utility patent has simply one claim, "an inhaler system consisting essentially of an actuator, a user interchangeable canister assembly, purified cannabinoid from cannabis, isolated terpene, ethanol, and a hydrofluorocarbon propellant. This patent is valid until 2038. Vapen MJ also has an unpublished patent pending for additional claims on the inhaler system.
Vapen MJ is currently also doing white label production of the CBD Inhaler and hopes to partner and/or license the patent to a high-volume manufacturer that can reach more of the market with the intrinsic benefits of the Inhaler delivery method.
The patent covers the Company's THC and CBD inhaler device which uses a propellant to atomize the THC or CBD oil so it can be deposited in the lungs, without heat. Vapen's inhalers offer a safe, easy-to-use alternative to smoking, using edibles or other traditional methods of consuming THC or CBD products. The Vapen inhaler administers a pressurized, metered 10 milligram (mg) dose of pharmaceutical grade pure THC or CBD Isolate. The result is a simple, convenient and accurate delivery system.
"We are very satisfied with the scope of this patent covering the device, the delivered content, and the use of a propellant, all key elements that enable this safe and convenient inhaler to give customers simply the best way to get a precise and measured dose," commented Thai Nguyen, Founder and Chief Executive Officer of Vapen MJ Ventures. "This broad utility patent brings tremendous value to our Company and our brand, as well as new opportunities to drive sales, expand our market presence, and increase shareholder value."
Digipath, Inc. (OTCQB: DIGP), a leading independent testing laboratory, data analytics and formulation firm focused on the developing cannabis and hemp markets, announced that GroSciences, its wholly owned subsidiary, has successfully completed beta-testing of its “Tru-Hemp ID” kit. Tru-Hemp ID distinguishes hemp cultivars from drug-type I cannabis (which are different genetic cultivars of cannabis) via a DNA test of the plant sample.
Under the 2018 Farm Bill that legalized hemp cultivation, hemp is defined as having less than 0.3% delta-9-THC by dry weight. As a result, compliance with the 2018 Farm Bill is usually determined by analyzing the THC content of a particular plant sample. Tru-Hemp ID offers a simpler method for determining the strain of a particular plant in the form of a genetic test. A full analysis of all data collected thus far using the Tru-Hemp ID kit that correlates the genetic outcome of samples with their actual THC content will be forthcoming.
“Hemp farmers in North Carolina and Vermont were very receptive to using the Tru-Hemp ID kit,” stated Cindy S. Orser, PhD, Chief Science Officer, Digipath, Inc. “Farmers want to have the ability to definitively verify what they are buying, particularly when purchasing hemp seeds from other states or countries, or cannabis clones.”
Dr. Orser also spent time with the Vermont Department of Agricultural staff, including the Vermont hemp program director, Cary Giguere. Vermont, a progressive cannabis state, already provides for the use of genetic testing to discriminate hemp cultivars from drug-type I cannabis in lieu of a chemical analysis of the mature flower for delta-9-THC content under the 2018 Farm Bill.
“It is rewarding to see our first genetic product entering a successful beta test phase,” added Dr. Orser. “We are enthusiastic about the market opportunity and the interest from hemp farmers and hemp regulators.”
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) the first and only cannabis company with sales in Canada, the US and the EU, today announced the signing of definitive agreements for a series of transactions to purchase ABI SF, LLC, which operates a Bay Area cannabis cultivation facility and owns the State Flower brand. State Flower is known for its ultra-premium cannabis flower and is currently sold through dispensaries in California and Nevada, including The Apothecarium. TerrAscend recently closed a series of transactions with The Apothecarium as noted in the Company's press release of June 6, 2019. By agreeing to purchase State Flower and bring aboard elite cultivation talent, TerrAscend will continue to provide high quality product through its retail locations and will expand the State Flower brand in multiple states.
TerrAscend has agreed to initially acquire 49.9% of the equity of State Flower for total consideration of US$2.85M from conversion of a previously issued convertible debenture and subject to regulatory approvals.
TerrAscend has also extended a line of credit of up to US$3.75M to State Flower for cultivation facility improvements to expand production capacity. While State Flower implements facility improvements, the parties will begin the regulatory approval process for the full purchase of State Flower, under a Securities Purchase Agreement. TerrAscend also has future rights to use the State Flower brand pursuant to a license agreement.
TerrAscend has agreed to purchase the remaining 50.1% equity of State Flower for total consideration based on future revenue over a predetermined twelve-month period. The transaction is subject to regulatory approvals by various local and state authorities, as well as certain customary closing conditions. Several of the owners of The Apothecarium and their related entities have an ownership interest in State Flower.
"We're excited to add the prestigious State Flower brand to our portfolio," said Matthew Johnson, President of TerrAscend Corp., and TerrAscend USA, Inc. "Daniel Wacks and Jeremy Cohen are skilled cannabis cultivators with years of experience operating in a highly regulated market and we are thrilled to work with them to expand the State Flower facilities and brand presence. "
"Through our work with The Apothecarium and TerrAscend, it's clear that we've found a great strategic and cultural fit," said Daniel Wacks, President of State Flower. "We're proud of the brand we've built and excited to have found a partner who recognizes the quality of our team. We look forward to working together to build best-in-class cultivation capabilities in all jurisdictions where TerrAscend operates, to expand the State Flower brand presence, and become part of an inspirational team that's making major progress towards becoming one of the top companies in the sector."
CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF), a North American cannabis products and brands company today announced its financial results for the three and six-month periods ended June 30, 2019. All figures are reported in Canadian dollars ($), unless otherwise indicated. Origin House's financial statements are prepared in accordance with International Financial Reporting Standards.
For a more comprehensive overview of the Corporate and Financial highlights presented in this press release, please refer to Origin House's Management Discussion and Analysis of the Financial Condition and Results of Operations for the three and six months ended June 30, 2019, and the Company's Condensed Interim Consolidated Financial Statements for the three and six months ended June 30, 2019, which will be filed on SEDAR by August 29, 2019.
Marc Lustig, Chairman and CEO of Origin House commented, "I am very proud of the entire Origin House team for generating another quarter of record revenue growth, leveraging the California brand support and distribution platform we built over the past several years, to deliver results for shareholders. It speaks to the strength and maturity of our organization that we were able to increase our share of shelf in California while preparing to integrate with Cresco Labs. To that end, in this quarter, we successfully executed on the sale of Alternative Medical Enterprises LLC generating a 156% return on investment, our distribution division Continuum entered into a distribution agreement with Cresco and began distributing Cresco branded products across California, and we have made substantial progress on post-closing groundwork."
Mr. Lustig continued, "In California, we have built a foundation that is capable of supporting a much larger business and expect to begin to drive significant operating leverage as we continue to grow revenue. With additional regulatory pressure on the illegal market in California, we expect 2020 to be a big year in the state. I am as confident as ever that the combination of Cresco Labs' scale, expertise and brand portfolio with Origin House's proven track record of leveraging our California-wide distribution footprint, is the best way for shareholders to participate in this growth. Together, we will be well-positioned to build a national, and one day, global house of brands."
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