Investor Ideas #Potcasts: #Cannabis News and #Stocks on the Move (OTC: $ACRGF) (TSX: $TGOD.TO) (OTC: $TGDOF) (CSE: $GGB.C) (OTC: $SING) (CSE: $TTT.C)
Delta, Kelowna, BC –June 27, 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 “potcasts”, looking at cannabis news, stocks to watch as well as insights from thought leaders and experts.
Today we are looking at a few early announcements.
Acreage Holdings, Inc. (CSE: ACRG.U) (OTC: ACRGF) and Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced the implementation of Acreage's previously announced arrangement under section 288 of the Business Corporations Act (British Columbia) with Canopy Growth.
Pursuant to the Arrangement, the Acreage articles have been amended to provide Canopy Growth with the option to acquire all of the issued and outstanding shares in the capital of Acreage, with a requirement to do so, upon a change in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana or to remove the regulation of such activities from the federal laws of the United States, subject to the satisfaction of the conditions set out in the arrangement agreement entered into between Acreage and Canopy Growth on April 18, 2019, as amended on May 15, 2019. Canopy Growth is permitted to waive the Triggering Event.
"On behalf of Canopy Growth, I thank the shareholders of both companies for their vote of confidence in this historic transaction. We have experienced a tremendous year of growth and this deal has activated the accelerator in terms of where we will take both companies in the coming years," said Canopy Growth Chairman and co-CEO Bruce Linton. "In leading an industry that is full of firsts, this agreement is moving both Acreage and Canopy Growth into unprecedented territory of strength. Giving their team access to all of the key learnings we've gleaned over the last few years, will in turn create a truly turnkey entry point into the US market and deepen the value returned to our shareholders once we are federally permitted to close."
Acreage will continue to operate as a stand-alone entity and to conduct its business independently, subject to compliance with certain covenants contained in the Arrangement Agreement and the Subordinate Voting Shares will remain listed on the CSE and the OTCQX.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF) announced that its flagship Valleyfield, QC facility has received its organic certification from Pro-Cert, an internationally recognized leader in organic certification.
Once completed, TGOD's Valleyfield facility is going to be the world's largest organic cannabis facility at over 1.3 million square feet. This Pro-Cert recognition adds another certification to the Company's portfolio, in addition to TGOD's already certified organic growing facilities in Canada and Europe, and shows TGOD's commitment to cement its position as the leading organic cannabis brand globally.
"It's exciting to reach new milestones as we begin commercial production. Growing certified organic cannabis at scale is a highly complex process which has taken time, great care and extensive research to refine. Each of our facilities goes through a robust certification process, in line with the high standards we have set, ensuring operational excellence at all stages," commented Brian Athaide, CEO of TGOD. "The proprietary methods our team has developed leverage the benefits of growing in living soil and guarantees the organic integrity of the products throughout the entire production chain."
Pro-Cert's certification programs are ISO 17065 compliant and accredited, providing global recognition and international access to the products and brands they certify. The certification process includes validation of inputs, production methods and preparation procedures according to Canadian organic product regulation.
Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) today announced the expansion of its partnership with Abercrombie & Fitch, a division of Abercrombie & Fitch Co. (NYSE: ANF). The specialty retailer trialed GGB's Seventh Sense Botanical Therapy products in 10 Abercrombie & Fitch stores and it will now carry the CBD products in more than 160 A&F stores.
The expansion includes Seventh Sense's CBD-infused body lotions, muscle balms, lip balms and sugar scrubs, and is Green Growth Brands' second major wholesale agreement since the passage of the Agriculture Act of 2018 in December 2018.
"Abercrombie & Fitch understands how to connect with their target-customer, not just in the U.S. but across the globe," said Green Growth Brands CEO, Peter Horvath. "They have incredible brand recognition in our current target markets and beyond, and we are excited at the prospect of building our partnership together."
SinglePoint Inc. (OTC: SING) announced today that it has signed a $109,465,000 contract with Elite Foundation LLC of North Carolina to supply more than 275,000 pounds of premium hemp flower over a period of 15 months. The client has approved and taken receipt of the second batch of product and Elite has approved approximately 5000 pounds of varietal strain hemp flower which has been reserved for their next 4 to 6 shipments expected every other week.
“We are grateful for the opportunity to work with SinglePoint in continuing to establish ourselves as the Southeast’s preferred hemp provider, trusted to satisfy our clientele’s growing demands by ensuring quality, consistency and variety for the downline. This alliance potentiates a cascade of mutual benefits across many sectors within the burgeoning hemp industry, and we look very much forward to generating these positive energies together!” states Max Alexander, Chairman and CFO of Elite Foundation.
According to President Wil Ralston, “There is very little high-quality hemp flower in the United states so were pleased that our client can take advantage of our supply before its available to other supermarket clients. After visiting with our suppliers yesterday it is clear that the market is drying up quickly and we have access to supply the best flower available to the market with additional greenhouse quality flower coming to market as well. This has been a great development for SinglePoint and our VP of Sales, Don Smith, has done a wonderful job of closing this contract. He is currently working with additional clients in need of hemp flower as well as many other raw materials such a biomass. We look forward to the closure of these deals among others in our pipeline including private labeled finished goods for retail distribution. We see a large opportunity to put end user product throughout retail distribution in the coming months. Industrial derived hemp has created a wave of new products and opportunities in which SinglePoint has been able to drive additional revenue and profit.”
BDS Analytics and Arcview Market Research project that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024 while New York-based investment bank Cowen & Co, estimates that the market could pull in $15 billion by 2025. The smokable hemp market currently represents approximately 2% of the overall CBD market, but with a 250% growth from 2017 to 2018, Brightfield Group, a Chicago-based cannabis market research firm, identifies dried and smokable hemp flowers as one of the fastest-growing segments of the CBD market. SinglePoint’s bold entry into the hemp flower market positions the company as one of the leading hemp flower wholesalers in the country.
TruTrace Technologies Inc. (CSE: TTT) (OTC: TTTSF), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, today announced that Zenabis Global Inc. (TSX:ZENA), a Canadian licensed cultivator of medical and recreational cannabis, will employ the Company's StrainSecure™ platform to collect, register, manage, track and publish verified testing data of its cannabis plant DNA and strains.
Use of the StrainSecure platform is intended to enable Zenabis to validate its cannabis strains and provide its customers with increased transparency about the authenticity, quality and origin of its products. In addition, Zenabis is joining the Shoppers Drug Mart and TruTrace medical cannabis verification pilot project announced last week at the World Cannabis Congress.
"This initiative continues to gain momentum with the signing of a forward-thinking cannabis cultivator like Zenabis who recognizes the value of providing verified product data to their patients and customers," said TruTrace Technologies CEO Robert Galarza. "The recent launch of this traceability pilot project with Canada's leading pharmacy brand demonstrates the importance of standardization and traceability in designing and evaluating treatment programs for patients."
Zenabis' Chief Revenue Officer, David Lluncor, added, "We're extremely excited to be part of the pioneer group of licensed producers partnered with TruTrace Technologies and Shoppers Drug Mart, who are committed to increasing transparency, traceability, and standardization in the cannabis industry. In particular, we're happy to be able to play a role in offering Canadian medical patients and adult-use consumers assurances that they are being supplied safe, high quality, cannabis and hemp CBD products."
Under the StrainSecure program, the TruTrace team collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.
Phase 1 of the Pilot Project is expected to be completed by July 31, with full production and implementation targeted for late November 2019.
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