Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move; (TSX: $WEED.TO) (NYSE: $CGC) (OTCQB: $CANB) (NEO: $HALO) (OTCQB: $OWPC)
Delta, Kelowna, BC, December 9, 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 podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
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.
Canbiola, Inc. (OTCQB: CANB), a developer, manufacturer and supplier of a variety of hemp-derived THC-Free Cannabidiol (CBD) Isolate products such as oils, drops/tinctures, creams, moisturizers, chews, and capsules, announced that it has executed an agreement for an all-stock transaction to acquire 51% of Green Grow Farms Inc from Iconic Brands, Inc. In addition, Canbiola is negotiating an option to purchase the remaining 49% minority interest from NY Farm Group. The transaction will consist of all stock valued at $1 million, full terms can be found in the Company’s current 8K filing filed December 6, 2019.
Green Grow Farms Inc is licensed by New York State to grow hemp under the Hemp Research Pilot Program. Green Grow Farms grows industrial hemp for grain, flower, and CBD. Green Grow Farms has successfully grown and harvested 6 Acres on two farms in Calverton, NY this year, yielding in excess of 12,000 pounds of dried biomass. The current New York inventory consists of Suver Haze and Sweetened varieties with CBD content ranging from 13% to 16%. This product is being sold as biomass for processing into isolate and/or distillate and to wholesalers and retailers for processing as smokable flower and pre-rolls. Additionally, Green Grow Farms has a cultivation partnership with Fox Trot Farms LLC in Meigs County, Tennessee. This 50/50 partnership is a 35 acre grow with over 100,000 Late Sue variety clones which have reached maturity and are presently being harvested. Additionally, various quantities of different varieties have been harvested. This product will be mostly processed to raw material for their consumer product line.
The close of this transaction will further the full vertical integration goals of Canbiola. The company now has successful consumer brands under the Pure Leaf Oil, Seven Shakra’s and Canbiola names and a full company-owned production facility in Lacy, Washington where all the products are manufactured, and white label services are provided. In addition, the Company announced in July of this year our joint venture with Shi Farms to be minority equity partners in a full processing facility in Pueblo, Colorado and with the intended acquisition of Green Grow will have our own Company-owned grows to further, control our process.
After closing, the Company will have an update forthcoming on our plans for 2020 to complete the initiative of being a true full vertically integrated company in the burgeoning CBD and Premium Hemp market. Through Green Grow Farms and in conjunction with their NY Hemp Depot subsidiary the company intends to develop their operations in New York to not only grow, but to provide automated harvesting, bucking, drying, and processing services.
Halo Labs Inc. (NEO: HALO) (OTCQX: AGEEF) announced that it has signed a strategic partnership agreement with OG DNA Genetics Inc., one of the most awarded names in cannabis, to exclusively develop its genetics in Oregon through breeding, growing, phenotyping and processing. The initial term of the partnership agreement is five years with successive five-year renewals.
Partnership Highlights
● DNA Genetics has garnered over 180 awards in the cannabis industry including High Times top 10 strain of the year, seedbank Hall of Fame, and Trail Blazers award
● Their strains and derivative products command a premium in the market and are highly demanded by cannabis consumers
● 5-year exclusive partnership will expand on Halo’s already prominent genetics library to establish a new standard of cannabis in Oregon
● Partnership aligns with the 1 acre increase in the grow operation in East Evans Creek
● Halo will be only grower and manufacturer of DNA Genetics brand products in Oregon
Founded in Amsterdam in 2004, DNA Genetics is a leading influencer in the global cannabis industry, developing high-quality seeds using a professional, responsible and technical approach. DNA Genetics created some of the most well-known products by combining high quality genetics and expert growing practices. With a win in every single category of the HIGH TIMES Cannabis Cup, many of the top seed companies in the industry use DNA within their breeding programs.
DNA will take that expertise and award-winning track record to produce strains that will be exclusive to Halo in the state of Oregon. The exclusivity requires that companies in Oregon that seek access to the DNA strains must license them from Halo.
Andreas Met, Co-founder and COO of Halo commented, “We have seen that consumers demand quality and the top brands in our industry. DNA Genetics provides just that. We expect that demand for our products across the board will benefit from the co-branding opportunities this alliance presents.” Mr. Met went on to state, “Our recent cultivation expansion provides us an opportunity to capitalize on the DNA Genetics partnership. We will refine genetics of the cannabis that Halo currently produces while introducing new DNA strains into circulation.”
“We are very excited to partner with Halo Labs. They have an impressive footprint with first-class established product categories,” said Charles Phillips, CEO of DNA Genetics. “This is a multiplier for two fast-growing cannabis companies with additional partnership opportunities on the horizon. With both companies actively expanding business activities and global footprint – we expect this to be a very successful and mutually beneficial partnership.”
Commenting on the full potential Kiran Sidhu, Co-founder and CEO of Halo said, “We are excited to partner with DNA Genetics to build upon our strains in Oregon. DNA Genetics is renowned through the cannabis industry as a top breeder. Having exclusive rights to their genetic developments in Oregon reaffirms our leading position in this market and will help the Oregon market reach new heights.” He added, “We hope this is the first of many markets in which Halo and DNA will collaborate.”
One World Pharma Inc. (OTCQB: OWPC), a fully licensed pure-play cannabis and hemp ingredient producer in Colombia, announced today that it has partnered with Colombia’s FEDECORE to provide seed-to-sale assistance to qualified local populations in Colombia.
FEDECORE is the ‘Colombian Federation of Regional Advisors,’ which defends human rights, promoting inclusive policies, programs, and projects. It is tasked with developing social projects in post-conflict, underdeveloped and struggling municipalities of Colombia to improve the quality of living of the citizens in those regions. Under the joint venture, OWP owns 51% of the shares of Colcannapy S.A.S., a Colombian company, with FEDECORE owning the remaining 49%. Through Colcannapy, the parties intend to execute a new initiative with selected populations across the country to produce high-quality industrial hemp for subsequent international sales.
Colcannapy holds a valid seed license and 24 registered cultivars that will be provided to the designated groups to be used in FEDECORE’s industrial hemp project. The program will aim to educate local growers as to the modern, most efficient cultivation techniques for Colombia’s growing climate. OWP intends to then purchase up to 50% of all harvested plant material and sell it in the international marketplace, while FEDECORE will purchase the remaining biomass to be used domestically throughout Colombia.
Through FEDECORE’s efforts, Colombia’s government is fulfilling its promise to empower and enrich people who suffered through previous domestic conflict. OWP was chosen in part because of its significant expertise in seed characterization and its stated mission to beneficially partner with indigenous people. This is aligned with Colombia’s emerging subsidy program, which has been established to develop a leading international industrial hemp program nurtured by local farmers.
“It is a great tribute to our reputation in Colombia that we have been selected to partner with FEDECORE,” stated Brian Moore, President, One World Pharma. “Our Company’s initiatives include partnering with local farmers and indigenous people in a mutually beneficial way. Our partnership with FEDECORE is expected to allow us to do this on a large scale,” added Moore.
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced that effective January 14, 2020, David Klein has been appointed as the Company's Chief Executive Officer.
David brings a wealth of expertise to this role, having served in a number of senior leadership capacities over the past 14 years at Constellation Brands. His capabilities include extensive CPG and beverage alcohol industry experience, strong financial orientation, and experience operating in highly regulated markets in the U.S., Canada, Mexico and Europe. David is an experienced strategist with a deep understanding of how to build enduring consumer brands while leveraging operational scale across a dispersed production footprint. He is a strong leader with a proven track record of developing diverse and high performing teams.
In his current role as executive vice president and chief financial officer at Constellation Brands, David oversees all aspects of the company's finance operations, all mergers and acquisitions, as well as the company's information technology function. He is widely respected among members of the U.S. investment community, earning recognition as a top CFO by Institutional Investor magazine the past three years. David serves as a member of Constellation Brands' executive management committee. He has served on the Canopy Growth Board of Directors for over a year and is presently Canopy Growth's Board Chair. This familiarity with the Company's current leadership team and strategy will allow David to integrate quickly, a major benefit in the fast-moving cannabis sector.
"Canopy Growth sits at the forefront of one of the most exciting new market opportunities in our lifetime," said Klein. "Thanks to the efforts of Mark and the entire team at Canopy Growth, no company is better positioned to win in the emerging cannabis market. I look forward to working with the team to build on the foundation that has been laid, to develop brands that strongly resonate with consumers, and to capture the market opportunity before us. Together we will drive sustainable, industry-leading growth that benefits employees, shareholders and the communities in which we operate."
The appointment of David Klein follows a thorough recruitment process overseen by a special Hiring Committee of the Board using global recruitment company Heidrick & Struggles, which saw a wide variety of exceptional candidates vetted and interviewed. David will step down from all other positions he currently holds, remaining a member of the Canopy Board of Directors. The Company intends to appoint a new Chairperson upon David's effective date as CEO.
Consistent with the previously announced transition plan, with a new CEO identified Mark Zekulin will be stepping down from his role as CEO and resigning his seat on the Board of Directors of Canopy effective December 20, 2019. As a founding employee of Canopy Growth (then Tweed Marijuana Inc.), Mark was instrumental in building Canopy into what it is today first in the role of President, then President and Co-CEO, and finally as CEO.
"It has been an incredible six years at Canopy Growth, and I have witnessed the team and Company grow from five people in an abandoned chocolate factory, to thousands of people across five continents," said Zekulin. "Canopy today is positioned to win with the resources, infrastructure, team, and award-winning culture needed to succeed. It has truly been an honour to be part of building a unique, Canadian success story like Canopy, and I look forward to seeing the Company continue to evolve and grow under David's leadership."
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