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Delta, Kelowna, BC – April 24, 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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Good afternoon and welcome to another Investorideas.com “potcast”, looking at cannabis news, stocks to watch as well as insights from thought leaders and experts.
BLOCKSTRAIN TECHNOLOGY CORP. (TSXV: DNAX) (OTC: BKKSF), announced that, further to its News Release dated April 15, 2019, the TSX Venture Exchange has approved the change of name of the Company to TruTrace Technologies Inc. The Name Change became effective at the opening of the market today and the company will trade under the new symbol "TTT" on the TSX Venture Exchange.
"We're excited to continue the strong work we started under this new banner TruTrace Technologies. It is a more accurate reflection of our expanded full service enterprise software solution and better captures the full breadth of our offerings," said Chief Executive Officer Robert Galarza. "It also better communicates the true extent of the opportunities for our technology that provides value and integrity, not just to the cannabis industry but other industries as well."
Innovative Properties Inc. d/b/a Nabis Holdings (CSE:NAB) (OTC: INNPF), a leading Canadian investment company with specialty investments in assets across multiple divisions of the cannabis sector, today announced that it has completed its investments ("Investments"), in strategically located property in Bangor City, Michigan ("Bangor City"), that has received municipal approvals for ten cultivation licenses and one processing license. This property allows Nabis to grow indoor, outdoor and greenhouse cannabis with an unlimited stacking ability of cultivation licenses.
Cultivation at the property is expected to commence in the first quarter of 2020. Nabis Holdings will be developing a 60,000 sq. ft. indoor cultivation and processing centre and a 45,000 sq. ft. hybrid greenhouse.
"In early 2020, our Bangor property will become a critical cultivation center for our Michigan operations, with projected harvest of more than 40,000 pounds per of dry flower per year and have the capability of producing over 35,000 pounds of high grade distillate at its full capacity," said Shay Shnet, CEO & Director of Nabis. "We remain committed to our aggressive cross-country expansion as we seek out additional opportunities in limited license states that will bolster our cultivation capabilities and expand the Company's footprint."
Cannvas MedTech Inc. . (CSE: MTEC) (OTC: CANVF), a leading digital cannabis education and analytics company, announced that it has joined the International Cannabis Alliance, bringing advancements from existing legal cannabis markets to new and evolving legal cannabis markets around the globe, as its exclusive provider of cannabis education. The InterCannAlliance is an international project led by New Frontier Data, an independent, technology-driven analytics company specializing in the cannabis industry.
"We are proud to join the International Cannabis Alliance in its efforts to educate future leaders in the global cannabis industry and develop a framework for delivering unbiased and evidence-based consumer education around cannabis as laid out in its nine founding pillars," said Shawn Moniz, Chief Executive Officer, Cannvas MedTech. "This opportunity extends the global reach of the Cannvas brand, opens doors to exciting new ventures and projects with partners spanning the globe, and strengthens our market position as a leader in cannabis education in Canada and across the world."
Cannvas will work with the InterCannAlliance to deliver physician-backed and evidence-based cannabis education powered by its digital cannabis learning resource Cannvas.Me. With a focus on audiences in new and evolving legal cannabis markets, InterCannAlliance will review all original content on Cannvas.Me and work with the Cannvas team to identify appropriate learning modules to adapt and make available to their community. The partnership also opens the door to opportunities for Cannvas to explore projects with New Frontier Data as part of its cannabis analytics platform Cannvas Data, as the two organizations share the same mission of elevating the discussion around the legal cannabis industry globally by providing unbiased vetted information and educating stakeholders to make informed decisions.
Some of the financial highlights included: revenue totals of $5.0 million, up from $1.8 million in the third quarter of 2018 and $0.0 million in the fourth quarter of 2017, a net loss of $11.7 million or $0.13 per share, compared with a net loss of $778 thousand or $0.02 per share for the fourth quarter of 2017 and as of December 31, 2018, the Company held $21.7 million in cash and cash equivalents.
"We are pleased with our performance in the fourth quarter and have laid the groundwork for success in 2019," said Michael Nashat, CEO of TerrAscend. "We are experiencing strong sales momentum in Canada and are making substantial progress towards becoming a leading US multi-state operator. We look forward to sharing more information on our international expansion plans, US growth in both cannabis and hemp-derived CBD businesses, and additions to our senior leadership team."
Grown Rogue International Inc,. (CSE:GRIN) (OTC: NVSIF), a vertically-integrated, multi-state cannabis company, and Decibel Farms, Inc., a fully organic and sustainable producer and processor of fine cannabis products in southern Oregon, have executed a binding letter of intent which sets out the general terms and conditions pursuant to which Grown Rogue will acquire the assets, including real estate, intellectual property and other assets of Decibel for aggregate consideration of USD$3,000,000.
Decibel is a family owned and operated, 5-acre sungrown and greenhouse farm located in the Applegate Valley in the heart of Southern Oregon with a 2,500 square foot processing center in Medford, Oregon. Decibel owners Shawn Bishop and Buddy Wilson are veterans of cannabis cultivation. Over the past 3 years, Decibel has built a truly sustainable cultivation facility that utilizes biological cultivation practices and has garnered several prestigious quality awards.
Obie Strickler, CEO of Grown Rogue, explained the value of the acquisition stating, "Grown Rogue is continuing to see significant month over month sales growth, such that demand for our award winning products is surpassing our current capacity to deliver in Oregon. This acquisition addresses this demand by immediately adding Decibel's inventory valued at more than US$1 million wholesale to Grown Rogue's supply. The acquisition also adds another well respected brand into the Grown Rogue portfolio of brands, enabling us to continue growing our market share. Decibel will expedite our ability to ramp up product supply by adding Decibel's 40,000 sq ft cultivation and manufacturing capacity, as well as a very experienced management to the Grown Rogue leadership team."
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