NEW YORK, Feb. 09, 2021 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: OrganiGram Holdings (NASDAQ: OGI), Icanic Brands (OTC: ICNAF) (CSE: ICAN), Red Light Holland (OTC: TRUFF) (CSE: TRIP), Sundial Growers (NASDAQ: SNDL).
Investors are cheering new and expected legislation which is opening new market opportunities for both cannabis and psychedelics globally. Wall Street Reporter highlights the latest comments from industry thought leaders in cannabis and psychedelics:
Icanic Brands (OTC: ICNAF) (CSE: ICAN) CEO Brandon Kou: “Ready to Scale with Quality Brands, and a Superior Gross Margin Profile”
“The Tesla of Cannabis” is what some savvy investors are calling Icanic Brands (OTC: ICNAF) (CSE: ICAN), after its recent presentation at Wall Street Reporter’s “Investors Discovery Day” livestream. ICNAF is a leader in the California market, and specifically in the pre-rolled space, with its award-winning, “Ganja Gold” brand, sold in hundreds of retail outlets. A key component of ICNAF’s success is its pre-roll manufacturing technologies which produce consistent, high-quality pre-rolls at high gross margins – a major competitive advantage in the cannabis industry.
Watch ICNAF NEXT SUPER STOCK video:
http://bit.ly/2Lz5l2E
In his livestream presentation, ICNAF CEO Brandon Kou outlined the company’s growth strategy, based on a “three pillar approach”: sales platform, technology, and vertical integration which led to a superior gross margin profile. With a profitable foundation established, ICNAF is now at an inflection point where it’s ready to start scaling revenues and expand with strategic M&A opportunities.
Watch ICNAF NEXT SUPER STOCK video:
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February 9, 2021 – ICNAF signs a binding LOI to acquire De Krown Enterprises LLC, a California based leading cannabis white label manufacturer and brand owner
De Krown Enterprises generated $324,000 USD in revenue last quarter with 54% gross margins.
De Krown has broad ranging product experience including: pre-roll manufacturing, cartridge filling, packaging, terpene extraction, topicals/salves, edibles, material procurement and, packaging/supply chain procurement, and has an existing capacity to manufacture over 118,000 pre-rolls per day.
January 5, 2021 – INCAF reports Q3 revenue of $2.65 million, up 45% from the previous year quarter ended October 31, 2019, and Gross margin of $1.21M (46%) resulting in 58.6% increase from the prior year period driven by Icanic’s commitment to automation and vertical integration. Adjusted EBITDA of $167,637, up from a Negative Adjusted EBITDA of $1,503,270 from the prior year period.
December 9 – ICNAF signs LOI to acquire THC Engineering, LLC, which manufactures one of a kind automation technology for the rapidly expanding cannabis manufacturing industry, and renowned for its world-leading, automated pre-roll technology. “Technology has always been a key focus and one of the three pillars that allows Icanic to truly differentiate itself and target a superior gross margin profile,” said Brandon Kou, CEO of Icanic. “The opportunity to acquire THC Engineering and its world class team was something that we could simply not pass up. This agreement reinforces our commitment to technology by bringing on a team that has built one of a kind manufacturing equipment for the likes of Tesla, Genentech and Johnson & Johnson.”
Watch ICNAF NEXT SUPER STOCK video:
http://bit.ly/2Lz5l2E
OrganiGram Holdings Inc. (NASDAQ: OGI) CEO Gregory Engel: “Expanding Profit Margins with Product Line Innovation and Automation”
“…We continue to see dried flower and pre-rolls as the two largest categories in the Canadian rec market. And based on US legal state data, we believe they will continue to dominate the foreseeable future even as alternative product forms gain traction.”
“We continue to leverage our indoor facility and our unique three-tiered cultivation rooms. Every Edison strain benefits from being grown in one of these data-backed strain-specific grow rooms with bespoke microclimates, designed to offer a distinct flavor and aroma profile and to ensure consistent quality. Variables such as humidity, temperature and light are customized to optimize the growth, cannabinoid and terpene profile of each strain….Opportunity to scale up new genetics require a patient and deliberate process where cultivation protocols are trialed for each cultivar and adjusted through multiple grow rooms before full roll out to multiple rooms in our facility.”
“In addition to revenue upside beyond fiscal Q2, we’ve identified a number of opportunities which have the potential to greatly enhance gross margins…A greater proportion of our portfolio is being dedicated to higher volume SKUs, such as multipack pre-rolls and 1g vape cartridges, which attract higher margins. We continue to invest in automation to drive cost efficiencies and reduce dependence on manual labor…”
OrganiGram (NASDAQ: OGI)
Earnings Call Highlights:
http://bit.ly/3cU4GEP
Red Light Holland (OTC: TRUFF) (CSE: TRIP) CEO Todd Shapiro: “Psychedelics is Next Billion Dollar Market Opportunity”
Cannabis industry pioneer Bruce Linton is relishing his new role as Advisory Board Chairman at Red Light Holland (OTC: TRUFF) (CSE: TRIP). Recently he joined TRUFF CEO Todd Shapiro on Wall Street Reporter’s NEXT SUPER STOCK investors livestream to discuss the coming global boom in psychedelics. TRUFF produces and sells recreational grade psychedelic Magic Truffles to the current legal adult use market in the Netherlands, and is planning global expansion as legislation is rapidly changing globally. In his Wall Street Reporter interview, Bruce Linton explains why he sees “Psychedelics is the New Cannabis”, and how he is helping TRUFF get positioned to capitalize on this generational market opportunity for psychedelics.
Watch TRUFF Next Super Stock livestream Video:
http://bit.ly/2XKX1zT
January 7
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TRUFF announces its bought deal financing with Eight Capital has been upsized to C$8.5 million.
December 30 – TRUFF enters into non-binding letter of intent to acquire 100% of Mera Life Sciences LLC (“Mera”), a company focused on developing a modern medicinal industry in St Vincent and the Grenadines, with their issued Psychedelic Licenses, which includes the following plants and compounds: Mushrooms/Truffles – Psilocybin, Ketamine, Ayahuasca, Methylenedioxymethamphetamine (MDMA) and other compounds. “The acquisition of Mera and its coveted licenses would allow Red Light Holland to perform high quality psychedelic product research and development, cultivate, extract and process, and export not just Psilocybin, but with compounds such as Ayahuasca, MDMA, DMT, Peyote, Ketamine and many other natural based plants as well. We are The People’s Company and we want to work closely with countries wishing to develop plant and fungus-based remedies – including treatment clinics, and we now understand that St. Vincent and the Grenadines shares our vision,” said Todd Shapiro, CEO and Director of Red Light Holland.
December 15 – TRUFF announced it has commenced growing its second crop of approximately 1,000,000 (1 Million) grams of magic truffles consisting of three different strains, including Psilocybe Mexicana, Psilocybe Galindoi, and Psilocybe Tampanensis. “Red Light Holland is ecstatic to announce that we have started to grow our second batch of magic truffles, expected to be 10X the original batch’s size totalling an expected 1,000,000 (1 Million) grams of Magic Truffles. We are proud as a company, in the Psychedelic sector to actually produce product now, as opposed to making mere projections about the future. We believe in providing responsible adult access now, through education and information and we are happy to be moving so quickly and efficiently.”
Watch TRUFF Next Super Stock Video:
http://bit.ly/2XKX1zT
Sundial Growers (NASDAQ: SNDL), CEO Zach George: “Evolving to Deliver Higher THC Potency Meeting New Consumer Demands”
“…Canadian cannabis consumer preferences are evolving, but are currently biased towards high THC potency. We have had to rapidly adapt our cultivation processes to meet those demands over the last six months….the modular nature of our facility provides Sundial the ability to rapidly adapt to evolving market conditions and we continue to be agile in our response. The scale and modular room design of Sundial’s cultivation facility make it one of the best in Canada. Since inception, we’ve compiled a broad spectrum of cultivation statistics, including more than 600 harvests, including 243 in 2020 and 52 in the third quarter alone. Sundial has leveraged his data analytics capabilities to focus on key improvement areas. I am proud to say that just last month in October we generated the highest average potency results since Sundial’s inception…”
“…To continue to serve evolving consumer preferences Sundial has also acquired an expanded library of genetics. We expect these genetics to have a financial impact in early 2021. …We exited Q3 with lower costs, greater efficiencies and dramatic improvements to our balance sheet. Despite underperforming on revenue, we reached several key operating milestones. As we continue to improve our processes, we are also working to elevate our customer experience while driving long-term growth…”
Sundial Growers, Inc. (NASDAQ: SNDL) Q3 2020 Earnings Highlights:
https://bit.ly/3oFJgO7
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. Nothing in this news summary shall be construed as investment advice. Quotes/content may be edited for brevity and context. Full disclaimer, and relevant SEC 17B disclosures here: http://bit.ly/39kkE7K
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