News from Planet 13 Holdings Inc., Neptune Technologies & Bioressources Inc., Canopy Growth Corporation, C21 Investments Inc., CannaRoyalty Corp.
Delta, Kelowna, BC - September 17, 2018 (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 its series, 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: CSE: $PLTH.C, NASDAQ: $NEPT, TSX: $WEED.TO, CSE: $CXXI.C, CSE: $CRZ.C
Today’s podcast overview/transcript:
Good morning 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 Planet 13 Holdings Inc. trading on the CSE as PLTH and the OTCQB as PLNHF, Neptune Technologies & Bioressources Inc. trading on the NASDAQ and TSX as NEPT, Canopy Growth Corporation trading on the TSX as WEED and the NYSE as CGC, C21 Investments Inc. trading on the CSE as CXXI and CannaRoyalty Corp. Trading on the CSE as CRZ.
Planet 13 Holdings Inc., a leading vertically-integrated Nevada cannabis company announced today that the OTC Markets Group has approved the listing of the Company’s common shares on the OTCQB Venture Market under the ticker symbol “PLNHF”. Trading will begin on the OTCQB at the opening of the market on Monday, September 17th, 2018.
“Planet 13 is entering a phase of significant growth. The grand opening of our 40,000 square foot Las Vegas Superstore is on track for November 1st, we continue to generate strong growth and profitability from our Medizin dispensary and discussions to open additional retail locations in other U.S. jurisdictions are underway,” said Robert Groesbeck, co-CEO of Planet 13. “A U.S. listing will both enable a broader investor base to participate in the Planet 13 story and enhance visibility as we build a premier portfolio of retail cannabis properties across the U.S., grounded in the Las Vegas experience.”
Neptune Technologies & Bioressources Inc. today announced that it has received a Confirmation of Readiness letter from Health Canada in regard to its application to become a Licensed Producer under the ACMPR (Access to Cannabis for Medical Purposes Regulations).
Health Canada’s positive response marks another important regulatory step forward to obtaining Neptune’s licence to produce cannabis oil supporting our timeline to commence commercialization this fiscal year. Neptune will notify Health Canada in the coming days and provide all additional required evidence to the agency to demonstrate the Corporation’s readiness to commence production. Upon satisfactory review by Health Canada of any additional information submitted by Neptune, the Corporation would receive its licence for cannabis extraction.
On August 14, 2018, Neptune announced the completion of its Phase I Investment of $5 million (CAD) in site security and equipment. This investment allows Neptune to make its GMP-certified Sherbrooke, Québec facility ready and compliant for the extraction of cannabis and production of cannabis oil. Neptune also recently began work on Phase II capacity expansion with a capital expenditure budget of $4.8 million (CAD). This next phase is expected to be completed the first quarter of calendar 2019 and will increase the total processing capacity to approximately 200,000 kg of dried cannabis using advanced extraction processes.
Canopy Growth Corporation announced that its Tweed Farms Inc. site has received licence amendments approving all remaining greenhouse space, bringing the Company’s total licensed footprint to approximately 3.2 million sq. ft. The Company’s Canadian platform is now 57% licensed with the balance under aggressive development towards the previously announced 5.6 million sq. ft. target production footprint. This target excludes significant production capacity projects underway at Canopy Rivers’ partners and supply available to Canopy Growth through third-party agreements.
With the recent announcement that C21 Investments Inc. had signed a letter of intent to acquire Grön Chocolate LLC and Grön Confections LLC in Oregon, the company surpassed US$75 million in pending and closed acquisitions in the United States since its relaunch as a cannabis company in January of 2018.
“C21 Investments continues to rapidly implement our strategy of acquiring established, revenue-producing and profitable cannabis operations involved in cultivation, processing, branding and retailing in selected American states,” said Robert Cheney, Chief Executive Officer, C21 Investments. “We believe the U.S. cannabis market presents an attractive opportunity for profitable growth, especially for firms like C21 Investments that are vertically integrated, and can add value for shareholders at each stage of the production and sales processes.”
Since C21 Investments announced in January that it will focus on the cannabis sector, it has acquired, or announced agreements to acquire, seven cannabis companies in Oregon and Nevada.
CannaRoyalty Corp., a leading North American cannabis products and brands company, announced today that it has signed a letter of intent with Australis Capital Inc. whereby Australis intends to purchase 2,200,000 shares of common stock (the “Share Purchase”) in the capital of Wagner Dimas Inc. from Cannroy Delaware Inc., a wholly-owned subsidiary of CannaRoyalty Corp. This announcement follows the announcement of the sale of the Company’s exclusive Canadian license for Wagner Dimas’ pre-roll technology to Aurora Cannabis.
Pursuant to the Agreement, Australis intends to purchase Cannroy Delaware’s 22% equity interest in Wagner Dimas. As consideration for the Share Purchase, Australis would pay C$3,000,000, payable in either common shares of Australis or cash.
Marc Lustig, Chairman and CEO of CannaRoyalty, said, “Over the past year, our team has been focused on building a platform that will position CannaRoyalty as the go-to home of origin for promising growth brands in the California market. To support these ongoing efforts, in early 2018 we outlined a plan to rationalize non-core assets. To date we have successfully executed that plan, generating significant returns for shareholders and non-dilutive capital to fund our California build-out.”
The Agreement is subject to customary closing conditions
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