Investor Ideas #Potcasts; #Cannabis News and #Stocks on the Move; (CSE: $HARV.C) (CSE: $HUGE.C) (OTCQX: $MRMD) (TSXV: $LIFT.V) (OTCQB: $LFCOF)
Delta, Kelowna, BC, January 6, 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/01061HARV-HUGE-MRMD-LIFT-LFCOF.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.
In today’s podcast we look at a few early announcements.
But first, while sales of Cannabis 2.0 products has begun in most every province already, the latest generation of cannabis products will now also be available for legal sale in Ontario starting today as The Ontario Cannabis Store releases 59 new products, including edibles, beverages, lotions and concentrates.
Like with dry flower the year previous, the OCS warns supplies are limited and expected to run out fast.
Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that negotiations to acquire Interurban Capital Group, Inc., the owner and operator of Have a Heart CC, have reached a stage that require disclosure.
Preliminary terms contemplate an acquisition price of approximately $87.5 million in Harvest stock and assumption of debt convertible into 205,594 multiple voting shares of Harvest stock, subject to applicable Canadian securities laws. Have a Heart assets include 11 operating dispensaries in California, Washington and Iowa and licenses for seven retail locations in California.
Prior to completion, the potential acquisition remains subject to, among other things, due diligence, the execution of definitive agreements, the receipt of regulatory approvals and the satisfaction or waiver of closing conditions customary for a transaction of this nature.
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) announced that its Class B Subordinate Voting Shares have been approved for listing on the NASDAQ Capital Market under the symbol 'HUGE'. Trading on the NASDAQ is expected to commence at market open on Thursday, January 9, 2020.
The Company's Shares will continue to be listed on the Canadian Securities Exchange under the symbol 'HUGE'.
"As we announce this much anticipated and coveted milestone, I want to congratulate the FSD Pharma team, our stakeholders, and, most importantly, our shareholders. I also want to extend my gratitude to the members of the Board of Directors of FSD Pharma, and especially to the founders of the Company, for their vision and for giving me an opportunity to lead the FSD Pharma team to achieve this strategic advantage. It is exciting to realize that once we begin trading on NASDAQ, we will be included in a select group of 12 Canadian-domiciled cannabis companies trading on either the NYSE or NASDAQ, and the first company in the history of the Canadian Securities Exchange (CSE) to be dual-listed on a major U.S. exchange," stated Raza Bokhari, MD, Executive Co-Chairman and CEO.
MariMed Inc. (OTCQX: MRMD) a leading multi-state cannabis and hemp operator focused on health and wellness, announced today that their Illinois dispensaries in Anna and Harrisburg saw a significant uptick in sales on the first day under new laws to legalize recreational use of cannabis throughout the state.
In May 2019, the Illinois General Assembly passed the HB 1438 law legalizing recreational cannabis use and sale in the state for adults which became effective January 1, 2020. Illinois is the 11th state in the nation to allow the sale of recreational marijuana. Thirty-three states allow the sale of marijuana for medical use, which Illinois legalized in 2013. Industry analysts estimate the new legal market for recreational, or adult-use cannabis, could exceed $2 billion annually. This new market is in addition to a surging medical marijuana market, which, according to Illinois government sources nearly doubled in size and number of patients during 2019, exceeding $200 million and nearly 90,000, respectively.
On Dec. 31, the eve of adult-use cannabis legalization in Illinois, Gov. J.B. Pritzker announced that he was pardoning more than 11,000 low-level cannabis-related convictions ahead of adult-use sales. The pardon cleared 11,017 convictions involving less than 30 grams of cannabis.
According to Marijuana Business Daily, the maximum number of adult-use dispensaries allowed in Illinois in 2020 is 185, or 1.5 retail stores per 100,000 residents. By comparison, Oregon currently has 15.7 recreational marijuana retailers per 100,000 residents. MariMed Inc. plans to open two additional Illinois dispensaries in the coming year.
MariMed’s dispensaries in Anna and Harrisburg, which operate under the Thrive brand, saw customers waiting outside for hours before opening. MariMed worked hard prior to January 1st to prepare for expected demand by recreational users while ensuring valued medical customers would still receive the attention, service and access to products that they have come to expect. It was positive to see demand appearing to be as high in rural areas as in the more concentrated and competitive urban areas of the state.
According to Gorgi Naumovski, MariMed’s Director of Operations in Illinois, “The customers were thrilled to legally purchase recreational cannabis in Illinois for the first time. This was the single busiest day in over 3 years of operations with customer count more than 5 times that of a normal day. We are excited for the industry and what the future holds for the state of Illinois and MariMed.”
During 2019, under MariMed management, revenue from sales to medical patients grew significantly. With the addition of recreational clientele, MariMed is expected to realize significant revenue growth in 2020 which will be reflected in MariMed’s reported financial results.
MariMed CEO, Bob Fireman, noted that, “We are excited to see the response by the people of Illinois to the new law. Gorgi and his team led by Rosie Naumovski, worked diligently servicing our medical patients while preparing for the recreational launch in our two dispensaries. They are in the process of developing two additional adult use dispensaries in Illinois allowed under our licenses. They have been valuable advocates for the Illinois cannabis programs from their inception providing guidance to both state and local authorities. We are proud to have them as part of the MariMed team. With our consolidation on track, MariMed’s revenue from these licensed businesses will now be included in our financial results in 2020 which in turn, will generate greater long-term value for our shareholders.”
Lift & Co. Corp. (TSXV: LIFT) (OTCQB: LFCOF) returns to Vancouver this week with the annual Lift & Co. Cannabis Business Conference on Thursday, January 9 at the Vancouver Convention Centre. Canadian and international industry and business leaders will be taking the stage for a day of dedicated talks on the topmost topics affecting cannabis going into 2020.
The Lift & Co. Cannabis Expo then takes over the VCC for a massive two-day trade show on Friday, January 10 and Saturday, January 11.
Tapping into this trend, this year’s 2020 LCBC keynote will be Data: The New Soil For Cannabis Growth, for which Lift & Co. will be joined on stage by two of North America’s leading data and consulting firms, Nielsen and EY Canada. This trio of presentations, moderated by Ipsos, will address the future of data insights and how analytics will propel cannabis into the next major CPG category.
Lift & Co. will also be on the Fire & Flower Stage at the Expo on Friday for a deeper dive into cannabis consumer insights with a second data talk alongside Ipsos and BDS analytics.
“We’re so excited to welcome CPG insights heavyweights like Nielsen, Ipsos, and EY Canada to elevate the cannabis conversation this year,” said Matei Olaru, CEO of Lift & Co. “Their presence signals an important shift for cannabis in year two, and will set the tone for a three-day event that will offer attendees the earliest view into cannabis in 2020. Lift & Co. has always strived to drive important topics forward at our events, and we’re looking forward to what is shaping up to be our most important Vancouver conference to date.”
These data sessions come on the heels of the launch of Lift & Co.’s consumer insights platform Cohesion in 2019, and recently announced strategic partnership with Nielsen to create an industry-first consumer segmentation tool for early 2020.
Additional LCBC talk highlights include:
● The Power and Potential of Psychedelics: Leading researchers and entrepreneurs provide insights into this uncharted industry
● Lessons from California: Building a Brand and an Industry: California-based cannabis leaders will share their insights and some lessons Canada can take away
● Trust after CannTrust: Rebuilding Confidence in the Industry: three presentations each touch on how brands can reframe the conversation to establish and maintain customer confidence
The Lift & Co. Cannabis Expo Vancouver 2020 takes place following LCBC, on January 10 and 11. The Expo features over 280 exhibitors and two full days of talks on the Fire & Flower Stage. Together, LCBC and Expo are Canada’s largest cannabis consumer and industry convention, with last year’s Vancouver event drawing in more than 18,000 visitors.
Investorideas.com and this podcast will attending the conference as media and will be doing interviews on the Friday, January 10th at 11am, 12pm and 1pm in the MEDIA ZONE
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