Investor Ideas #Potcasts, #Cannabis News and #Stocks on the Move; Episode 407 (CSE: $CHOO.C) (TSX: $FAF.TO) (TSXV: $PCLO.V) (CSE: $TRUL.C) (CSE: $HOLL.C) (OTCQB: $HLIX)
Delta, Kelowna, BC, April 30, 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:
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.
Today’s podcast will be looking at a few public company announcements.
Choom™ (CSE: CHOO) (OTCQB: CHOOF), an elevated cannabis company, who has one of the largest national retail networks in Canada, announced that it has received the Approved In Principle (AIP) retail cannabis licensing for its Olympic Village location in Vancouver, BC.
Corey Gillon, CEO states, “Choom is extremely proud to have secured an AIP retail cannabis license through the BC Liquor & Cannabis Regulation Branch (BCLCR), Ministry of Attorney General. This is a big milestone for Choom in its expansion into the Province. We will be operating in three provinces as of mid-May and have further plans to open additional stores in Metro Vancouver over the next few months. During this very challenging time for the global economy, Choom is appreciative of the opportunity to provide a safe and elevated retail experience for Vancouver clients.”
This follows the company’s recent acquisition of its flagship location in Niagara Falls, Ontario.
Fire & Flower Holdings Corp. (TSX: FAF), today announced its financial and operational results for the fifty-two and thirteen-weeks ended February 1, 2020.
Some of the Financial and Operational Highlights for the 2019 Fiscal Year
Fifty-two weeks ended February 1, 2020 included:
● Achieved the target of 45 open and operating retail stores ahead of schedule, on January 13, 2020 across the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.
● Total revenue of $51.1 million at a gross profit of 36.4%, compared to revenue of $13.0 million at a gross profit of 38.4% for the 2018 fiscal year – representing a 294% increase in revenue.
● Closed the strategic investment with Alimentation Couche-Tard Inc. ("Couche-Tard") with an initial investment of $25.9 million (through 2707031 Ontario Inc., an indirect wholly-owned subsidiary). The strategic investment would result in Couche-Tard obtaining a controlling interest in Fire & Flower if all securities issued in connection with the strategic investment are converted/exercised in full.
● Completed numerous acquisitions relating to cannabis retail stores in British Columbia, Alberta and Saskatchewan.
● Secured more than $27 million of capital through a bought deal private placement financing in June of 2019.
● Hifyre launched the Spark Perks™ member program providing benefits such as Fastlane "click-and-collect" checkout, exclusive deals and access to member-only events. As of the end of the Company's fiscal year, the program has enrolled more than 60,000 members.
● Commercialized the Hifyre™ Digital Retail and Analytics Platform producing an independent high margin revenue stream.
● Hifyre entered into a strategic licence agreement with COVA Software Solutions, an industry-leading point of sale company to further commercialize the Hifyre Digital Retail and Analytics Platform across Canada and in international markets.
● Implemented a restructuring plan as part of normal-course retail operations to maximize profitability across the Retail Platform.
Subsequent Financial and Operational Highlights post February 2, 2020
● Maintained business continuity during the COVID-19 public health crisis through rapidly implementing safety operating procedures and the ability to continue to serve customers through the Hifyre Digital Retail and Analytics Platform including the Spark Fastlane™ "click-and-collect" service, curbside pickup and home delivery in select provinces.
● Closed two private placements for aggregate gross proceeds of $28 million with Green Acre Capital LP acting as the lead investor and AltaCorp Capital Inc. acting as the exclusive financial advisor to Fire & Flower in connection with the offerings.
● Entered into a commitment letter with ATB Financial for senior secured credit facilities of up to $10 million with an option to secure an additional $5 million, subject to ATB Financial's consent and other customary conditions.
● Hifyre's Spark Perks member program achieved more than 95,000 active members and continues to deliver highly engaged customers across the Fire & Flower Retail Platform
● Forced the conversion of all remaining licensed producer debentures through the issuance of 12,223,638 common shares
"The financial and operational results for our fiscal 2019 year and the fourth quarter demonstrate Fire & Flower's continued track record of meeting our organizational goals. This includes delivering on our store target of 45 open and operating retail locations by the end of the fiscal year and dramatically growing our sales," shared Trevor Fencott, Chief Executive Officer of Fire & Flower. "Looking forward to fiscal 2020, our focus will be on optimizing and growing our retail network where the Hifyre Digital Retail and Analytics platform continues to be our competitive advantage. We will focus on addressable markets and participating in those markets in a meaningful and accretive fashion to our business."
There were also other financial results announcements today from PharmaCielo Ltd. (TSXV:PCLO) (OTC:PCLOF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S.; Vibe Bioscience Ltd. (CSE:VIBE)(OTC:VBSCF), a vertically integrated cannabis retailer and cultivator; and Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), a globally focused, multi-state cannabis and hemp operator who expects to report its financial results for the fourth quarter and full year ended December 31, 2019 as well as its accompanying management discussion and analysis before the market opens on Thursday, May 7, 2020.
Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States, today announced the launch of a new product, Blue River™ Rosin Cart, through the successful partnership with Blue River™.
Blue River™ Rosin is a strain-specific, full-spectrum, solvent-less hash oil. The Blue River™ Rosin Cart offers patients a safe, convenient, and controlled way to vaporize in a strain-specific solventless manner. Using advanced mechanical separation techniques, Blue River™ can naturally preserve a higher concentration of full-spectrum cannabinoids and terpenes without the use of water, chemical solvents, or other additives.
"Trulieve is excited to extend our partnership with Blue River, adding to their award-winning terpene extracts, THCa and other trademark branded products on Trulieve's shelves for Florida's growing patient base," said Trulieve's Chief Marketing Officer, Valda Coryat. "Blue River's Rosin Cart adds to our innovative focus, delivering more effective and enhanced experiences for our Truliever community."
Commenting on the launch, Tony Verzura, CEO Blue River™ said, "Over a year ago, we installed our proprietary extraction equipment and began training the Trulieve team on our advanced mechanical separation techniques in an effort to bring our catalog of solventless products to patients in Florida. We made history together by successfully launching Blue River™ Rosin, a strain-specific concentrate, and again with THC-A, which is made through mechanical refinement of that Rosin, and was well-received in the Florida market.
Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF), a diversified cannabis branding company with products in over 220 dispensaries throughout California, announced that further to the signing of the definitive agreement, as amended, the Company has now closed its acquisition of AlphaMind Brands Inc., a growth stage company, that is developing a portfolio of certified legal mushroom based natural health products.
"We are very pleased to close our acquisition of AlphaMind", shared Carl Saling, Founder and CEO of Hollister. "It is our continual objective to broaden our product scope and Alphamind, with its experienced management team, is a perfect foothold for us in the fast-growing market for medicinal mushrooms and complements our existing cannabis and hemp-based product offering. We are excited to bring another promising brand under the Hollister umbrella, especially in such a fast growing and exciting sector."
"We are very pleased to have closed this transaction", shared Dr. Nikos C. Apostolopoulos, Chief Product & Research Officer of Alphamind Brands. "We are looking forward to working with Hollister to build out our medicinal mushroom based product line and conducting further R&D to develop an exciting IP portfolio surrounding psilocybin based pharmaceutical treatments."
Helix Technologies, Inc. (OTCQB: HLIX), the leading provider of critical infrastructure services to the legal cannabis industry and Hypur Inc., the premier provider of compliant, safe, and sustainable payment and banking options for high-risk, cash-intensive businesses, today announced a new partnership to help power operational logistics and financial capabilities for each other’s customer networks. Together, these market-leading technology companies will help cannabis businesses maintain compliance while continuing to grow amid surging consumer demands and evolving retail expectations for services, including curbside pickup and delivery during COVID-19.
“We continue to build upon our network of partners to provide the cannabis industry with high-caliber technology tools and resources to help businesses thrive,” says Tyler Beuerlein, CRO at Hypur. “Our team is impressed by the standard of Helix BioTrack’s products and services, and we’re confident our partnership will help boost companies in this fast-growing market.”
As part of the partnership, Hypur will support Helix BioTrack’s cannabis retailer network with modern, digital payment products. Cannabis businesses who choose to partner with Hypur and leverage its technology can utilize the company’s digital Hypur Pay™ product to create a safer, more convenient payment ecosystem for the cannabis industry.
Hypur’s reliable and compliant technology reduces cash handling, eliminating the extra step of stopping at an ATM, and physical contact at checkout. With its new “safe checkout” product feature, Hypur provides contactless payments for in-store, delivery, and curbside pickup purchases, alongside an added tipping feature for delivery drivers and budtenders.
The availability of digital payment solutions for cannabis deliveries and purchases is crucial as the cannabis industry has been deemed “essential” in many cities and states around the country. As a result, many have been experiencing a surge in consumer sales during the current global novel coronavirus (COVID-19) pandemic, which urges “social distancing” and “shelter-in-place” mandates to uphold public health and safety.
“Our team is dedicated to creating a seamless experience for cannabis businesses—especially now as many merchants are navigating changes resulting from the pandemic,” says Moe Afaneh, COO at Helix BioTrack. “We are excited to be partnering with Hypur, a company that shares our vision to provide critical infrastructure, in this case payments, to the extensive base of customers we serve.”
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