(MENAFN – Investor Ideas) Delta, Kelowna, BC – November 15, 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.carelease today’s edition of Investorideas.com potcastsCM – cannabis news and stocks to watch plus insight from thought leaders and experts.
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Investor Ideas Potcasts, #Cannabis News and #Stocks on the Move; (NYSE: ACB) (TSXV: VIVO) (TSX: VFF) (TSX: FIRE) (TSX:TGOD) (TSXV:XLY)
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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 early announcements.
But first, Athletes For CARE (A4C), the leading athlete support care organizationannouncedtheir brand new Canadian Medical Cannabis Patient Support Program. This innovate and simple-to-use support system will allow athletes to have easier access to medical cannabis prescriptions and treatment, as well as key tools that will support them throughout their journey with medical cannabis.
Athletes for CARE is a not-for-profit organization with a community of athletes finding support, opportunity and purpose in life after a career in sports by using their influence for social change. Founded in 2016 by passionate individuals who recognized the need to advocate for the health, safety and wellbeing of more than 2 billion people of all ages who compete annually in sanctioned sports globally.
“We’re excited to bring this new medical cannabis support program to life for our Canadian athletes,” said Christina Michael, Director, Canadian Activation, Athletes for CARE.
“This further strengthens our growth and ability to improve the health and wellness options for individuals who may be living with physical and mental health challenges and looking to medical cannabis as a potential therapeutic option to help.”
The organization will be working alongside Strainprint® Technologies Ltd. (Strainprint), the leader in medical cannabis data and analytics to support patients with an Athletes For CARE version of the Strainprint app. The companion and mobile journaling tool will help patients understand which strains and ingestion methods work best for them.
“With more than 70 million data points and 1.4 million tracked medical cannabis patient outcomes and real-world observational data, we know that current and retired athletes often face a multitude of pain and stress related issues. By aligning with Athletes for CARE we’ll be able to provide a real-time strain recommendation guide and journaling tool that can help athletes easily determine which strain is best suited to treat their symptoms,” said Jessica Moran, Director, Marketing & Communications for Strainprint. “Our organization has been created by patients for patients, and we see this as the beginning of an exciting relationship with Athletes for CARE. In addition to providing patient support, we look forward to a future of our mutually shared vision in advancing medical cannabis research throughout the entire athletic community.”
Athletes for CARE is also excited to announce the involvement of Dr. Mike Hart, Cannabis Physician and Lifestyle Strategist who in addition to participating as an Ambassador for Athletes for CARE will be providing medical services and treatment guidance to A4C athletes.
“Most athletes have experienced a tremendous amount of physical trauma that has caused pain, insomnia and poor recovery. Fortunately, many athletes have responded favourably to cannabis; I believe every athlete should be offered cannabis as first-line treatment,” said Dr. Hart. “I am excited to broaden my support of the athletic community through Athletes for CARE and I am equally passionate about their mission to unite the athletic community for support, research and education.”
VIVO Cannabis Inc. ( TSX-V: VIVO ) ( OTCQX: VVCIF )releasedits third quarter 2019 financial and operating results.
VIVO’s net revenue increased to $6.3 million during Q3 2019, a 19% increase relative to Q2 2019, reflecting the ramp-up of the Company’s increased licenced capacity which is expected to result in further revenue growth in Q4 2019. VIVO also continued to sustain top-tier prices for its dry flower products, with a net average selling price of $7.15 per gram in Q3 2019.
Adjusted EBITDA was ($2.1) million in Q3 2019 compared to ($1.2) million in Q2 2019, primarily attributable to some one-time expenses, including those associated with VIVO’s ramp-up of increased licenced capacity. As at September 30, 2019, cash and cash equivalents (excluding strategic equity investments) were approximately $50 million.
“Our focus for the first half of the year was to satisfy the needs of the evolving adult-use market, provide consistent supply of quality products to medical patients, and execute our plans for cannabis 2.0,” commented Barry Fishman, Chief Executive Officer of VIVO. “We continue to execute against our four strategic priorities and are sharply focused on accelerating our path to profitability.”
Village Farms International, Inc. ( TSX: VFF ) ( NASDAQ: VFF )announcedits financial results for the third quarter and nine-month period ended September 30, 2019.
Produce sales were US$38.3 million compared with US$39.7 million and the company had a net loss before tax of (US$6.5 million) and included the loss from Pure Sunfarms Corp. of (US$0.9 million). Loss per share was (US$0.10) compared with loss per share of (US$0.04) and EBITDA loss was (US$2.4 million), including the positive contribution from Pure Sunfarms of US$5.0 million (C$6.6 million), this compares with an EBITDA loss of (US$2.0 million); and subsequent to quarter end, completed a bought deal offering of 3,059,000 common shares at a price of C$9.40 per share for aggregate gross proceeds to the Company of C$28,754,600.
“We are pleased to report another quarter in which Pure Sunfarms continued to set the standard for performance as a best-in-class cannabis operation, which again drove strong financial performance,” said Michael DeGiglio, Chief Executive Officer, Village Farms. “Pure Sunfarms’ achieved its fourth consecutive quarter of positive EBITDA, with an industry leading all-in cost of production of C$0.63, gross margin of 69% and EBITDA margin of 56%. In the 12 months since adult-use cannabis was legalized in Canada in October 2018, Pure Sunfarms has already generated C$47 million in EBITDA, an especially impressive number given that its operations were ramping up throughout most of that period.”
“Pure Sunfarms is now proving itself as a leading cannabis brand, ranking as the number one selling dried flower brand by a wide margin with the Ontario Cannabis Store in October, and having the overall top selling dried flower product, as well as three of the seven top-selling dried flower product. We look forward to Pure Sunfarms building on this tremendous initial success as it launches its pre-rolled dried products, adds provincial supply agreements, starts its extraction operations online for the roll out of oils and other new product forms under Cannabis 2.0 in the first half of next year, and more than doubles its output, further supporting its low production costs.”
The Supreme Cannabis Company, Inc. ( TSX: FIRE ) ( OTCQX: SPRWF )announcedthe release of its financial and operating results for the first quarter ended September 30, 2019.
The Company also announced that it has entered into a credit agreement with Bank of Montreal as Lead Arranger and Agent on behalf of a group of lenders for $90 million of senior secured credit facilities consisting of a term loan of $70 million and a revolving credit facility of $20…