Delta, Kelowna, BC, March 10, 2021 (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 look at a few public and private company announcements.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF), a leading producer of premium certified organically grown cannabis, reports its results for the fourth quarter and fiscal year ended December 31, 2020. These filings are available for review on the Company's SEDAR profile at www.sedar.com.
Some of the financial highlights included:
- Fourth quarter revenue of $10.92 million, a 91% increase quarter-over-quarter
- Canadian cannabis revenue of $8.55 million for the quarter, an increase of 122% over the prior quarter
- G&A reduction of 59% compared to the same period in 2019
- Full year revenue of $24.51 million, a 120% increase year-over-year
The Company announced that its board of directors has appointed Sean Bovingdon as Chief Executive Officer (CEO), and member of the board, effective immediately. Mr. Bovingdon had previously been appointed as Interim CEO in November 2020 while continuing to serve as CFO. He will continue as interim CFO while the Company undertakes a search for a permanent Chief Financial Officer.
"Sean has been very effective in leading the company through these extremely challenging past few months. He stepped into the interim-CEO position and has demonstrated outstanding leadership," stated Jeff Scott, Chairman of the board. "Sean has the strategic vision and experience to effectively guide TGOD through its next phase of growth. On behalf of the board of directors, I am very pleased to appoint Sean as CEO of the company."
"We delivered strong growth in 2020 thanks to the expansion of our product assortment, including the launch of Highly Dutch, and continuous improvements to our supply chain. This accomplishment, realized against a challenging backdrop, reflects the quality of our products, underpinned by our talented and committed team," commented Sean Bovingdon, TGOD's CEO and interim CFO.
"We remain laser-focused on operational execution as we chart the course for future growth, including opportunities in Europe, Mexico and the United States. We remain optimistic about the Company's financial prospects but envision a path forward where continued financial discipline will play a key role. While our Canadian facilities continue to remain open as providing an essential service to our customers during the COVID-19 pandemic, we note several retailers were not able to remain fully open especially during Q1-2021, and therefore we expect a delay in the rate of growth until at least Q2-2021. Our recently launched Organic Sugar Bush, a high-THC Sativa variety, reflecting the quality and potency improvements we have achieved, and our new Hash SKUs are expected to provide an added boost to our sales mix in the coming months." added Bovingdon.
Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF), a leading cannabis retailer with a proprietary digital retail and data platform, today announced that its wholly-owned indirect subsidiary, Hifyre Inc., has entered into a strategic agreement with BDS Analytics Inc. to incorporate Hifyre's Canadian digital retail and analytics into BDSA's existing online U.S.-based market research platform. As part of the agreement, BDSA will offer Hifyre IQ™ Canadian cannabis data to its U.S.-based clients and Hifyre™ will be able to provide U.S. data from BDSA to its Canadian clients, allowing both companies to offer enhanced, crossborder data to their respective consumer bases.
Matthew Hollingshead, President of Hifyre, Inc., commented, "A key aspect of Fire & Flower's growth strategy is to strategically incorporate alternative high-margin revenue streams into our business model in order to drive profitability, while building a leadership role in key cannabis markets around the world. Our Hifyre IQ™ analytics platform has proven successful in Canada as it has presented one of the strongest avenues of high-margin growth for our business and is recognized by licensed cannabis producers, equity research analysts, investment banks, hedge funds and consulting firms as a leading cannabis data platform in the country. Extending this platform into the U.S. is an excellent opportunity to accelerate this revenue stream."
Hollingshead continued, "Our unique Hifyre IQ™ platform has generated widespread demand from other leading cannabis companies looking to efficiently capture consumer data and meet customer demand. BDSA's extensive U.S. cannabis database and ability to quickly adapt to changing regulations in the U.S. makes them a prime partner. Through this agreement, both Fire & Flower and BDSA anticipate enlarging our respective consumer bases while supporting each other's continued growth in the cannabis industry."
Greenline announced its new financing service, Greenline Capital, a platform providing fast and easy access to short-term capital for cannabis retailers using the Greenline platform. The platform offering is supported by Merchant Growth Ltd., a leader in providing financing solutions to small businesses in Canada.
"Due to the classification of cannabis retail as 'high-risk', one of the biggest barriers to growth in our industry is access to capital," said Calvin Ho, COO of Greenline. "That's why we're introducing Greenline Capital to help cannabis retailers grow their businesses."
We understand that the Canadian cannabis industry is not high risk - retailers sell highly regulated products in government-licensed locations with predictable high demand. This is why Greenline is collaborating with Merchant Growth to offer two new services through Greenline Capital for Greenline customers: short-term financing and lines of credit. "We are pleased to partner with Greenline POS to offer a unique financing solution to its growing customer base," said Aidan Vaandering, Director of Business Development of Merchant Growth.
Provided a business has at least 3 to 6 months of business history, Greenline customers can be approved in 24 hours for up to $500,000 CAD in financing with flexible repayment terms, and up to a $125,000 CAD line of credit.
"This amount of capital could be a game-changer for cannabis retailers looking to expand into multiple locations, or simply have a line of credit ready for financing purchase orders and marketing," said Albert Kim, CEO of Greenline. "We have heard many times from our rapidly growing customer base that access to capital has been one of the most frustrating roadblocks to expanding their businesses. Greenline Capital is designed to solve this problem."
Myconic Capital Corp. (formerly, Auralite Investments Inc.) (CSE: MEDI) announced that the Company has entered into a letter of intent for the acquisition of all of the issued and outstanding shares of Mindscape Ketamine & Infusions Therapy, PLLC, a mental health and pain clinic based in Houston, Texas.
Mindscape was founded by Dr. Quang Henderson, an experienced emergency medicine physician who earned his MD credential and completed his residency at the University of Texas. Prior to founding Mindscape in 2018, Dr. Henderson was a Co-Founder of Neighbors Emergency Center, a network of emergency care facilities in Texas which currently has six locations. After ketamine-based treatments helped to alleviate depression-related symptoms experienced by his wife, Dr. Henderson was inspired to open Mindscape to avail such treatments to the general public. The Houston-based clinic, which administers ketamine through intravenous therapy (“IV”), is characterized by its spa-like atmosphere designed to put patients at ease. The Mindscape patient experience is augmented by a selection of multimedia including music and tailored virtual reality (“VR”) content which are intended to enhance the effects of a ketamine dosage.
Ketamine was first synthesized in 1962, and was successfully patented as a human anaesthetic in the United States in 1966. During the Vietnam War, ketamine was the most widely used battlefield anaesthetic, and has been listed in the World Health Organization’s Essential Medicines List since 1985. Usage of ketamine in veterinary medicine began in the 1970s, and it is presently the most widely used anaesthetic in this area of medicine1. In 2000, research conducted at Yale University determined that in a sample group of patients with major depression, the improvement in their symptoms realized within 72 hours could qualify the drug for use as an antidepressant. These findings were complemented six years later by a National Institutes of Mental Health (“NIMH”) study which showed that ketamine reduced depression symptoms more quickly than a placebo2.
As ketamine continues to gain popularity as a treatment for a variety of conditions, Myconic treats its acquisition of Mindscape as a strategic investment with which the Company can build out its holdings in the health and wellness category.
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