Delta, Kelowna, BC, February 8, 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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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 and private company announcements.
Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF) today announced that it has repaid in full the C$19.9 million (approximately US$15.6 million) promissory note, plus accrued interest of C$621,534.25 (approximately US$486,849.78), that it originally issued to Emerald Health Therapeutics, Inc. as partial consideration for the November 2020 acquisition from Emerald of the 36,958,500 common shares of Pure Sunfarms Corp. that Village Farms did not own. Village Farms no longer owes any amounts to Emerald with respect to the Pure Sunfarms Transaction.
Village Farms also announced that it has exercised a portion of its option to make an additional equity investment in Altum International, one of the Asia-Pacific's leading cannabinoid platforms, increasing the Company's equity ownership in Altum to just under 10% from 6.6%.
"The Altum team is making strong, steady progress on the execution of its business plan and we are pleased to be able to increase our equity stake in the company on similar terms to that our of original investment," said Michael DeGiglio, CEO, Village Farms International.
"Our international cannabis/CBD strategy is to target select emerging markets with significant long-term potential through partnerships with local experts who are early movers in their respective regions. Our investment in Altum represents a capital efficient means by which to participate in the significant opportunity in the Asia-Pacific region, which represents approximately one-third of the world's GDP1."
Village Farms continues to retain the remaining portion of the option that it did not exercise, which offers the Company the ability to further increase its ownership in Altum in the future on similar terms to its original investment. Village Farms made its original investment in Altum in August 2020.
Water Ways Technologies Inc. (TSXV: WWT) announced that it has received its fifth commercial and first international order for its Medical Cannabis IOT Irrigation and fertilization system. The CAD$160,000 order was received from a Licensed Producer in Southern Africa who is currently building a 10,000 Square meters (approximately 110,000 Sq. ft.) Medical Cannabis Cultivation facility. The order was received through a greenhouse integrator who is building the complete facility.
The system is an Internet of Things ("IOT") controlled irrigation and fertilization system for Cannabis cultivators and growers. Water Ways believes the system is one of the first in the world that was designed for the specific needs of Cannabis growers and cultivators worldwide. The Company expects to deliver and install the system by the end of May 2021.
The system was developed in Israel by the Company's engineers using the Company's unique knowhow gained in the irrigation industry and tailored specifically to the Client's specific needs.
Ohad Haber the Company's Chairman and CEO commented: "I am pleased that our technology is gaining traction in the international Cannabis market. This is the first international order for a Medical Cannabis irrigation system. We received this order following the success we gained is delivering Irrigation systems to the Medical Cannabis Industry in Israel among them to Cronos Israel. We will continue to focus our efforts on selling similar systems around the world."
“Charlie's extensive experience in commercial growth and operations will be instrumental as we continue to expand our footprint in the US. We are excited to bring such established leadership to the team as we ramp up to support the growth initiatives of Truss CBD USA, our joint venture with Molson Coors, and for potential non-beverage CPG partners with whom we are in ongoing discussions,” said HEXO CEO and co-founder Sebastien St-Louis.
Bowman is based in the US and will be responsible for all implementation aspects of HEXO’s US operations including stand up and commissioning of production facilities, overseeing operations, supply chain and logistics, and building the team.
“Over the coming months, we expect to begin deploying capital to build out production and processing facilities in the State of Colorado for our Powered by HEXOTM technology, and consider the US to be strategically important to our future growth,” continued St-Louis.
Bowman brings a wealth of experience tailoring natural biotech ingredients for the health, wellness and nutritional beverage markets, a diverse global background and nearly three decades of experience to the HEXO USA team. He has held senior leadership roles at leading global ingredient suppliers including BGG and Solix Algredients (Natural Antioxidants), Solazyme, now TerraVia (Algae Oils & Proteins), CP Kelco, and Cargill (Hydrocolloids). Throughout his career, Bowman has strengthened customer partnerships, customized innovations through extraction expertise and accelerated growth in customer facing operations. An executive known for talent and leadership development, Bowman has mentored nutrition and beverage executives in US, China, Japan, Brazil and across Europe. He graduated from Virginia Tech with a Degree in Food Science & Technology and holds a Master of Business Administration from Averett University.
Nugg Club, the nation's first true cannabis subscription box featuring full-sized products curated by experts and personalized to each customer, announced today the launch of Schedule 1, a new cannabis brand that seeks to provide instrumental support towards the mission of declassifying marijuana as a controlled substance by the Drug Enforcement Agency (DEA). Specifically, proceeds from Schedule 1 will be donated to lobbying efforts that seek to reclassify marijuana, and to Last Prisoner Project to free individuals in prison on non-violent cannabis charges who are serving jail because of marijuana being defined as a Schedule I drug.
The Controlled Substances Act (CSA) places all substances which are in some manner regulated under existing federal law into one of five schedules. Drugs like marijuana, opioids and heroin are classified as Schedule I drugs and are defined as those with no currently accepted medical use and a high potential for abuse. They also carry heavy penalties and jail time, sometimes mandatory, in the criminal justice system.
Yet, according to the Marijuana Policy Project there are over 4.3 million patients in the U.S. who rely on cannabis to ease the symptoms caused by myriad conditions, from cancer to post traumatic stress disorder and epilepsy. In fact, the U.S. already has patents on cannabinoids, including THC, based on their ability to prevent age-related brain damage and trauma.
While some bills have supported rescheduling cannabis to a less harsh category, state-legal cannabis businesses would still be unprotected from federal prosecution. Rescheduling also wouldn't protect private citizens from arrest. Nugg Club aims to have Schedule 1 create a self-sustaining platform that supports removing cannabis from the list of controlled substances and helps to free people incarcerated for nonviolent marijuana crimes due to federal scheduling.
"The federal Controlled Substances Act was written more than half a century ago and is based on flawed, unscientific and extremely outdated data. Cannabis is now commonly used to successfully treat intractable seizures, cachexia, chronic debilitating pain and many other life-threatening disorders. It's proven its utility within the medical community, yet it's still classified as Schedule I," said Joe Brottman, Creative Director of Nugg Club. "We're launching Schedule 1 to not only increase awareness but provide instrumental support to the mission to end the prison state."
At launch, Schedule 1 will include three flower strains available in Nugg Club subscription boxes and online for members to purchase via the Nugg Club add-ons menu. The strains include:
- Mimosa: This sativa-dominant strain is a cross between Purple Punch and Clementine. A daytime pick-me-up, Mimosa is great for chasing sleep away, relieving stress and sparking creativity. Its mood-boosting terpenes, limonene and beta caryophyllene, make for a zesty experience that tapers off gradually.
- MAC 1: Directly sourced by legacy-grower Capulator, MAC 1 is a smooth hybrid strain with impressive plant parents — Alien Cookies crossed with Starfighter and a Columbian landrace (aka Miracle 15). Connoisseurs can trace spice, diesel, and sour citrus in the strain's pungent aromas.
- Sunset Cookies: A proprietary phenotype sourced from Thin Mint Cookies and Sherbet genetics, Sunset Cookies is carefully bred in Coachella Valley to produce a mellow hybrid boasting with notes of fruity blueberry and lavender citrus. Sunset Cookies provides a super sweet balance between hazy and clear-headed effects.
The launch of Schedule 1 follows the company's recent announcement of a more broad-ranging partnership with Last Prisoner Project. This month, Nugg Club will be sending a special box to subscribers that is rebranded to showcase the names of people imprisoned across the country for nonviolent cannabis offenses. Products in the February box will feature brands that specifically support social justice work, including Schedule 1. The box will also include a call to action for Nugg Club members to participate in LPP's "Letter to a Prisoner'' program and donate to the organization.
"We're at a unique turning point in history. It's become clear that if we want to deschedule cannabis, it's going to be up to us. We already have one-third of our population living in states that allow legal recreational marijuana. Yet we still have prisoners serving life sentences for weed--some for tiny amounts," said Erik Murray, Last Prisoner Project Board Member. "Last Prisoner Project is proud to partner with Nugg Club at the launch of Schedule 1 so we can push for change in Congress and make sure our prisoners come home in the process."
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