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Investor Ideas Potcasts #Cannabis News and Stocks on the Move: (TSX: $APHA.TO) (NYSE: $APHA) (CSE: $ROMJ.C) (OTCQX: $ROMJF) (NASDAQ: $TLRY) (CSE: $CURA.C) (OTCBB: $CURLF)
Delta, Kelowna, BC - January 11, 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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Investor Ideas Potcasts #Cannabis News and Stocks on the Move: (TSX: $APHA.TO) (NYSE: $APHA) (CSE: $ROMJ.C) (OTCQX: $ROMJF) (NASDAQ: $TLRY) (CSE: $CURA.C) (OTCBB: $CURLF) Hear Investor ideas cannabis potcast on iTunes
Today's podcast overview/transcript:
Good afternoon and welcome to another Investorideas.com "potcast", looking at cannabis news, stocks to watch as well as insights from thought leaders and experts.
Today we will be looking at announcements from Aphria Inc. ( TSX:APHA ) ( NYSE:APHA ), Cannara Biotech Inc., Rubicon Organics Inc. ( CSE:ROMJ ) ( OTCQX:ROMJF ), Tilray Inc. ( NASDAQ:TLRY ) and Curaleaf Holdings, Inc. ( CSE: CURA ) ( OTCBB: CURLF ).
Aphria Inc. today reported its results , for the second quarter ended November 30, 2018, and the decision by its Chief Executive Officer, Vic Neufeld, and Co-founder Cole Cacciavillani, to transition out of their executive roles over the coming months. Mr. Neufeld and Mr. Cacciavillani will remain in their current roles until such time. The Key results for the quarter were:
- 92% increase in kilogram equivalents1 sold, reflecting partial period sales from the opening of the Canadian adult-use market, as well as continued sales of medical cannabis to existing and new patients
- Adjusted gross margins of 47% of net revenue, compared to 64% in prior quarter, as expected, due to lower effective selling prices in adult-use market, as well as temporarily lowered yields and higher production costs related to facilities expansion and implementation of automation
- Ended quarter with strong balance sheet and liquidity, including $152.1 million of cash and $32.7 million of liquid marketable securities, to fund announced Canadian and International growth and facilities expansion
Commenting on the quarter, Vic Neufeld stated, "This is the first quarter to partially include adult-use sales, helping to drive 63% quarter-over-quarter net revenue growth, as did continued strength in sales to the medical-use market. As expected, gross margins declined, reflecting lower effective selling prices in the adult-use market, as well as temporarily lower yields and higher production costs in the quarter as we moved aggressively to build out production facilities and implement new automation processes."
Cannara Biotech Inc., a vertically integrated Cannabis company focused on cannabis derivative products, announced that its common shares will begin trading on Monday, January 14, 2019 on the Canadian Securities Exchange ("CSE") under the symbol "LOVE".
"Since early 2017, we have been quietly assembling and advancing the necessary infrastructure to build Canada's premier cannabis company," said Zohar Krivorot, President and CEO of Cannara. "Today, with one of the largest indoor facilities in Canada and the largest in Quebec, we are well positioned to execute on a strategic plan including cultivation, product branding, derivative products and development of intellectual property. We are excited to begin our next phase as a public company and to continue our growth trajectory."
Cannara Biotech is building the largest indoor cannabis cultivation facility in Quebec, a modern and secure 625,000 square foot facility located in Farnham, less than 45 minutes from downtown Montreal. Leveraging Quebec's low electricity costs, Cannara will produce high-grade indoor cannabis and derivative products for the Canadian and international markets.
Rubicon Organics Inc., a super-premium organic cannabis company with operations in Canada, California and Washington, announced that the Company has secured eligibility by The Depository Trust Company ("DTC") for its shares on the OTCQX. DTC is a subsidiary of the Depository Trust & Clearing Corp. that manages the electronic clearing and settlement of publicly traded companies in the United States. DTC eligibility will simplify the process of trading and is expected to enhance liquidity of the Company's common shares on the OTCQX marketplace where Rubicon Organics now trades under the symbol "ROMJF".
"We are pleased to announce that we have obtained DTC eligibility, effective January 10, 2019. Electronic trading is the standard in today's financial markets, and becoming DTC-eligible greatly simplifies the process of trading and exchanging our common shares. We continue to make positive steps to grow the Company into the market leader in super-premium certified organic cultivation. We would like to thank our DTC Advisor, VStock Transfer, LLC, for their guidance through this process", commented Jesse McConnell, CEO.
Tilray Inc. traded up 25% today on the news that Privateer Holdings Inc. (Privateer), the world's first and leading private equity firm investing exclusively in the emerging legal cannabis industry, today issued the following statement, strongly emphasizing that it does not have plans to register, sell or distribute the 75 million shares that Privateer owns in Tilray, Inc. when the lock-up expires next week.
Statement from Michael Blue, Managing Partner of Privateer Holdings, in response to market speculation regarding its Tilray shareholding:
"Privateer Holdings strongly believes in Tilray's long-term global growth strategy and pioneering role in shaping the future of the legal cannabis industry. Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019. When we decide to distribute shares, we will do so in an orderly and deliberate manner to maximize tax-efficiency considerations for Privateer investors, while also taking into consideration potential impacts on Tilray's public float. And we will do it in a way that reflects our long-term confidence in Tilray's business model and management team."
PalliaTech Ohio, LLC, the Ohio affiliate of Curaleaf Holdings, Inc., a leading vertically integrated cannabis operator, announced that it has been selected to receive a provisional medical cannabis processor license from the Ohio Department of Commerce. Curaleaf currently operates 10 processing facilities across the country and has a presence in 12 states, including managing 42 dispensaries. Curaleaf is recognized for its premium products and sets the standard for quality, care, and consistency within the industry. When the processing facility officially opens, medical cannabis patients in Ohio will have access to Curaleaf's diverse medical-grade products.
"Ohio's medical cannabis industry is still very nascent, and we are excited about the growth opportunity in the state. We look forward to bringing our premium products and services to the medical patients of Ohio," said Joe Lusardi, CEO of Curaleaf.
"So far in 2019, Curaleaf has opened two dispensaries in Florida, one in New York, and announced a management agreement with multiple dispensaries in Maryland. Our entry into Ohio furthers our multi-state operating strategy," Lusardi continued.
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