Investor Ideas Potcasts 516, Cannabis News And Stocks On The Move- HEXO Corp, Molson Coors Beverage Company, Item 9 Labs Corp, Trulieve Cannabis Corp, AgraFlora Organics International Inc.
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Investor Ideas #Potcasts 516, #Cannabis News and #Stocks on the Move; (TSX: $HEXO.TO) (NYSE: $HEXO) (OTCQX: $INLB) (CSE: $TRUL.C) (CSE: $AGRA.C)
Delta, Kelowna, BC, January 13, 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.
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Read this in full at Investor Ideas Potcasts #516, Cannabis News and Stocks on the Move; (TSX: HEXO) (NYSE: HEXO) (OTCQX: INLB) (CSE: TRUL) (CSE: AGRA)
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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 will be looking at a few public company announcements.
Truss CBD USA, a joint venture between HEXO Corp (TSX: HEXO) (NYSE: HEXO) and Molson Coors Beverage Company (NYSE: TAP), today announced the U.S. launch of VeryvellTM, a new line of non-alcoholic, sparkling CBD beverages, exclusively available in Colorado.
VeryvellTM is a hemp-derived, adaptogenic, sparkling CBD water now available to Colorado-based consumers in three flavours: Focus (Grapefruit Tarragon), Mind & Body (Strawberry Hibiscus) and Unwind (Blueberry Lavender). VeryvellTM is Powered by HEXOTM, the recognized quality and innovation behind award-winning products.
“We are excited to launch VeryvellTM in Colorado through Truss CBD USA, in collaboration with our partner, Molson Coors. Our joint venture with Molson Coors Canada saw Truss Beverage Brands become the number one choice for consumers in Canada and we are expecting similarly great results in the US.” said HEXO CEO and co-founder Sebastien St-Louis. “We have near-term plans to invest additional capital in the USA to support Truss CBD USA and to further execute on our Powered by HEXOTM strategy with other potential CPG partners, outside of beverages, with whom we are currently in ongoing negotiations.”
VeryvellTM is produced and distributed within Colorado state lines following the state’s established regulatory framework for hemp-derived CBD in food and beverages and is exclusively distributed by Coors Distributing Company. Truss CBD USA is distinct from Truss Beverages, Molson Coors and HEXO’s joint venture in Canada that focuses on non-alcoholic, cannabis-infused beverages.
Item 9 Labs Corp. (OTCQX: INLB), a vertically integrated cannabis operator that produces premium products, today reported the Company's operating and financial results for the fiscal year (FY) ended September 30, 2020.
Key Financial Highlights for FY 2020
- Revenue increased 65% to $8.1 million
- Gross profit increased 39% to $3.3 million
- Operating loss decreased 46% to $5.4 million
- Operating expenses as a percentage of gross profit declined from 526% to 265%
- Adjusted EBITDA loss decreased 9% to $2.1 million
Key Business Highlights for FY 2020
- Ramped up cultivation and production operations
- Continued to improve the operating capacity of cultivation and processing facilities
- Signed definitive merger agreement with ONE Cannabis Group
- Named Mike (MIC) Keskey, retired former President of U.S. Retail for Best Buy Co., Inc. (NYSE: BBY), and Doug Bowden, a 30-year consumer electronics veteran with extensive experience in real estate investment and development, to Board of Directors
- Appointed Andrew Bowden as Chief Executive Officer
- Earned one Errl Cup and four 710 Degree Cup awards, Arizona's largest cannabis competitions
- Qualified to trade on OTCQX Market (upgraded from OTC Pink to OTCQB, then from OTCQB to OTCQX, both in August)
"This past year has been an exciting and successful time for our team," commented Item 9 Labs Chief Executive Officer Andrew Bowden. "We've seen strong, steady performance with sequential quarter-over-quarter growth rates of nearly 20% since my appointment as CEO at the start of our 2020 fiscal year. Our team continues to exceed expectations and has efficiently ramped production to meet heightened demand for our products, setting the stage for key strategic and operational developments in 2021. We anticipate increased business activities as we continue to pursue opportunities that position the company for growth and profitability."
Bowden continued, "We are still in the early stages of our growth and are already seeing an acceleration with Arizona's adult-use marijuana market opening in the first half of 2021, which we estimate will increase our consumer base by 500%. We're prepared to meet this demand through our streamlined production process and by expanding our operational cultivation footprint by more than 300% in the year ahead."
"In addition to continued growth in Arizona, we look forward to closing our pending merger with ONE Cannabis Group and their cannabis franchise, Unity Rd. We expect the combination of our premium, award-winning cannabis products with the nation's leading dispensary franchise will elevate our brand footprint through national distribution across Unity Rd.'s locally owned and operated dispensaries. This will ease new market product entry and create recurring revenue streams through franchise royalty fees," Bowden concluded.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company based in the United States, announced today the opening of a brand-new Florida dispensary, the Company's 76th nationwide. The new, 6,000 sq. ft. location marks the Company's 2nd in Gainesville, broadening patient access to Florida's largest and broadest assortment of medical cannabis products.
The new dispensary also supports Trulieve's goal of expanding and ensuring direct, reliable access to medical cannabis across its home state of Florida. It joins the Company's 70 other dispensaries statewide, including the original Gainesville location and those in nearby Ocala and Lake City.
"2020 presented challenges, but Trulieve focused on patient-driven customer service and organic growth to ensure access and product innovation, and that's what our continued focus will be for 2021," said Trulieve CEO Kim Rivers. "We look forward to building relationships with our Truliever community in Gainesville for many years to come."
In honor of the Company's brand-new dispensary, all patients — from those new to Trulieve to the dedicated Truliever community — will be eligible for a 25% in-store discount at the new College Park location on opening day. In line with policies adopted statewide, all visitors are required to wear masks for the duration of their dispensary visit. Additionally, only patients and their state-approved caregivers will be allowed inside the waiting room and dispensary at this time.
In stores and online, patients will find Florida's largest selection of THC and CBD products in a variety of delivery methods, including edibles, smokable cannabis, concentrates, tinctures, topical creams, vaporizers, and more. Trulieve also offers home delivery statewide for patients and convenient in-store pickup at each of its 71 dispensaries in Florida.
To assist patients with ordering, Trulieve has made our entire catalog of products available for online ordering, with in-store pickup and statewide home delivery options available. In addition, patients can schedule a complimentary 30-minute virtual consultation with a Trulieve certified consultant to help navigate questions on products, devices, or to review their doctor's recommendation.
Furthermore, to assist with CDC recommendations for social distancing and in compliance with additional company-enforced safety guidelines, several measures have been taken to ensure the health and well-being of employees and patients, including modifications to the layout of all stores, installation of plexiglass partitions and HEPA air filtration scrubbers in every dispensary, increasing access to masks and sanitizer throughout the store for staff and visitors, utilizing visual aids to direct traffic throughout the store, and increasing the frequency of deep cleanings for all dispensaries.
Trulieve is closely monitoring the coronavirus situation and will update store policies as needed to ensure the highest level of safety of our patients and staff. All updates will be shared directly on Trulieve's website as they are enacted.
The Office of Medical Marijuana Use recently announced the registry has surpassed 460,000 registered medical marijuana patients with an active ID card, with Trulieve consistently selling approximately half of the state's overall volume per the Florida Department of Health. To support the state's rapidly growing patient base, there are more than 2,700 registered ordering physicians in the State of Florida.
AgraFlora Organics International Inc. (CSE: AGRA) (OTC: AGFAF) announced an update on the Company’s entrance to the edibles market with the completion of the first phase of R&D trials at its Health Canada licensed 51,000-Square-foot fully-automated edibles manufacturing facility in Winnipeg, Manitoba (the “Edibles Facility”).
Prior to receiving a standard processing license from Health Canada, AGRA commenced (See press release dated August 27, 2020) cultivating long-term production relationships through Research and Development (“R&D”) trials utilizing the Company’s Health Canada R&D license. The development phase of the R&D trials is now complete and the company has created efficient processes for desired formulations and product varieties and expects to enter the edibles market in Q1 of 2021.
James Fletcher, EIC Co-Founder and Operational Manager stated, “Supply contracts continue to move forward with our Licensed Producer relationships, and we are confident that our gummies with consistent and flavourful variants will soon dominate the gummies category. Our family’s 97 years of confectionary experience provides us a solid culture of quality, craftmanship and efficiency to offer a variety of infused gummy products to multiple LP clients at a time.”
“The Company believes that their infused cannabis activated pectin and gelatin gummies variants are well timed given the strength of demand for consistent, quality and tasty gummy products. A recent OCS report showed the gummy category carried the highest market share in the edibles segment compared to chocolate and brownie alternatives at 65% with demand expected to continue to rise.” Commented the Agraflora Board of Directors.
The Edibles Facility will utilize its current state of the art laboratory set up to produce approximately 60,000 pieces per eight-hour shift and can manage a variety of brands at once given the efficient nature of the automated production line. The facility’s equipment and design allow EIC to easily pivot and provide specific dosing and custom gummies that meet regulatory requirements and customer specifications. These efficiencies also allow AgraFlora to produce saleable products at a lower cost.
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