Delta, Kelowna, BC – August 31, 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.
Listen to the podcast:
Investor Ideas Potcasts #601, Cannabis News and Stocks on the Move; (TSX-V: ENTG) (OTCQX: WDDMF), (TSX: VLNS) (OTCQX: VLNCF), (TSXV: KHRN) (CSE: IKNK.U)
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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.
Ikanik Farms, Inc. (
CSE: IKNK.U
)
announced
that it has completed the construction and state and local licensing of its Palm Springs dispensary, consumption lounge and home delivery.
“We are very excited to complete our flagship dispensary and consumption lounge that will set a new standard for cannabis experiences in the Palm Springs area, with operations targeted to begin October 2021.” said Brian Baca, CEO of Ikanik Farms.
Conveniently located one block from “Main Street” in the heart of Palm Springs, the licensed 1,800 square foot dispensary offers customers an open and modern shopping experience, a highly trained staff, and a wide assortment of California’s leading brands and Ikanik products, exclusive brand apparel and other soft goods, locally inspired to create a consumer centric shopping experience. An online reservation system will offer customers the convenience of shopping from their home and will support curbside pickup and home delivery.
The consumption lounge boasts 2,200 square feet of open and airy space, cascaded with natural light from its vaulted ceilings and a state-of-the-art ventilation and filtration system to provide an appealing venue for dispensary customers, private parties, and special events.
The company is excited to provide the Palm Springs area with employment opportunities ranging from store management to budtenders and support staff positions, with well-paying jobs that offer upward mobility and internal promotion opportunities.
“We will see dispensary revenue commence in Q4, with the completion of our California vertical integration supporting margin growth moving into 2022”, said Ryan Ciucki, CFO Ikanik Farms.
Khiron Life Sciences Corp. (
TSXV: KHRN
) (
OTCQX: KHRNF)
, a vertically integrated medical cannabis leader with core operations in Latin America and Europe,
announced
that it has received sanitary registration in Peru for Alixen 30 and Alixen 100, two CBD-rich products, which represent the Company’s first two registered finished medical cannabis products. As registered medical products, Alixen 30 and Alixen 100 will be available for distribution through traditional medical channels, including pharmacies, wholesale medical distributors, and dispensaries, greatly expanding product availability while streamlining distribution and prescription delivery.
Currently in Peru, the Company sells magistral preparations, or customized compound formulations, through its exclusive agreement with Farmacia Universal. In contrast, as shelf-ready medical cannabis products, Alixen 30 and Alixen 100 will be made widely available, on a non-exclusive basis in the country. Alixen 30 will target indications such as anxiety, insomnia, Parkinson’s Disease, and depression, while Alixen 100 will be used in the treatment of epilepsy. The Company also expects to have finished THC products available for commercial distribution in early 2022 to address additional pathologies, including chronic pain.
In the interim, the Company will continue to fill high-THC magistral preparation prescriptions in partnership with Farmacia Universal and work toward listing the Company’s registered medical cannabis products in major national pharmacy chains in Peru.
Alvaro Torres, Khiron CEO and Director, comments, “As we look to establish ourselves as the leading B2C medical cannabis company in Latin America, we are extremely proud to have received our first ever registration of medical cannabis products. Khiron-branded registered medical cannabis products from Colombia will be made available in Peru, providing patients with broader access and quicker prescription delivery through traditional distribution channels. Combined with the recent launch of our first Zerenia clinic in Peru, we have the pieces in place to expand in Peru and deliver on our Mission of improving patients’ quality of life through medical cannabis.”
The Valens Company Inc. (
TSX: VLNS
) (
OTCQX: VLNCF
) and Citizen Stash Cannabis Corp. (formerly Experion Holdings Ltd) (
TSXV: CSC
) (
OTCQB: EXPFF
)
announced
that they have entered into an arrangement agreement pursuant to which Valens will acquire all of the issued and outstanding common shares of Citizen Stash by way of a court-approved plan of arrangement under the Canada Business Corporations Act, in an all share transaction. The transaction is valued at approximately $54.3 million on an enterprise value basis.
Under the terms of the Arrangement Agreement, Citizen Stash shareholders will receive 0.1620 of a Valens common share for each Citizen Stash Common Share held. The Exchange Ratio implies a premium per Citizen Stash Common Share of approximately 35.1% based on the 15-day volume-weighted average price of the Citizen Stash Common Shares on the TSX-V and the Valens Shares on the TSX as of the close of markets on August 27, 2021.
The Citizen Stash Acquisition is expected to be accretive to Valens in 2021 and 2022 before synergies, and will provide Valens with strategic, asset-light expansion into flower and pre-rolls, the largest segments of the Canadian cannabis market currently accounting for over 70% of retail sales. This acquisition is anticipated to solidify Valens’ position as a top tier cannabis company by enhancing the Company’s market share and adding an innovative, premium flower brand to its portfolio. Closing of the Citizen Stash transaction will mark the third acquisition Valens has made this year, which will accelerate Valens’ strategic initiative to create a leading global manufacturing platform, capture market share through innovative product launches with unique consumer experiences, and expand on its existing domestic and international distribution network to better capitalize on the global opportunity.
Citizen Stash is a licensed cultivator and processor of premium craft cannabis products based in Mission, British Columbia, and will provide Valens the opportunity to unlock additional growth with its extensive and specialized product portfolio in the premium flower and pre-roll segments. Citizen Stash operates a unique, asset-light platform comprised of a network of craft contract growing partners from which it selectively sources premium bulk flower grown from Citizen Stash’s industry leading proprietary genetics. Citizen Stash manufactures and packages flower and pre-roll products primarily through manual processes.
Citizen Stash is one of the top performing premium brands in the flower and pre-roll categories. Based on Hifyre data for the flower category during March to May 2021 in the markets of Ontario, Alberta and British Columbia, Citizen Stash is the highest ranked premium brand by market share in the flower category with an average selling price above $13.00 per gram and is the only brand in the top 20 by market share with an average selling price above $13.00 per gram. Within the pre-roll category during March to May 2021 in the markets of Ontario, Alberta and British Columbia, Citizen Stash is the third highest ranked premium brand with average selling price above $13.00 per gram and one of only five within the top 20 overall brands. The Citizen Stash brand has demonstrated very impressive strength in the competitive flower and pre-roll categories with year-over-year market share gains unlike many other competitor brands – a testament to the product quality and consumer loyalty borne out of Citizen Stash’s industry leading genetics.
Tyler Robson, Chief Executive Officer and Chair of the Board of The Valens Company, said, “We are excited to join forces with Citizen Stash’s experienced team and broaden our offerings in the flower and pre-roll verticals with a best-in-class brand. The premium price tier of the flower and pre-roll segments represents the best expansion opportunity for Valens in the flower category, as premium brands are the hardest to build, while also capturing the highest margins. Citizen Stash’s asset light model, and proprietary genetics will provide us significant operational flexibility and an opportunity to leverage the growing capabilities of our existing LP partners. In short, this strategic acquisition will allow Valens to significantly expand its presence in the recreational market and capture a share of the largest categories of the Canadian cannabis space without the burden of a high-cost growing infrastructure. We are opportunistically expanding our product offering to align with consumer demand for high quality craft cannabis flower and pre-rolls.”
Entourage Health Corp. (formerly WeedMD Inc.) (
TSX-V:ENTG
) (
OTCQX:WDDMF
), a Canadian producer and distributor of award-winning cannabis products and brands,
announced today
that its subsidiary and licence holder WeedMD RX Inc. has signed agreements with BBCCC, Inc., a subsidiary of the The Boston Beer Company, Inc. (
NYSE: SAM
) (‘BBC’), and Ontario-based Peak Processing Solutions (‘Peak’), a subsidiary of Althea Group Holdings Ltd (
ASX:AGH
), to launch a new portfolio of non-alcoholic cannabis-infused beverages in Canada, with production commencing in Q4, 2021.
Under the terms of the five-year development, supply, manufacturing, sales and marketing agreements, BBC and Peak will develop the beverages with Entourage’s cannabinoid-rich input biomass processed at Peak’s Windsor, Ontario facility. Entourage will be the exclusive distributor of the cannabis-infused beverages in Canada leveraging Entourage’s expansive local sales and marketing network.
“The cannabis market is constantly evolving and with a growing base of consumers seeking consumption alternatives, we’re excited to partner with Boston Beer and Peak to elevate our offerings with Canadian-made, cannabis-infused beverages developed by one of North America’s most iconic craft beer brands,” said George Scorsis, Interim CEO and Executive Chair of Entourage. “We are proud to expand into another consumer vertical with award-winning partners of well-known products that will focus on all segments including the emerging self-care market. Our collective industry expertise coupled with extensive cannabis research and advanced branding strategies will lay the foundation for new product collaborations and further market expansion opportunities at scale. Our strong industry presence, sales force and reputation for consistently delivering award-winning brands in Canada makes this an ideal collaboration.”
Peak Founder and President, Gregg Battersby added: “The team at Peak are delighted to partner with two industry leaders in Entourage Health and The Boston Beer Company to develop what promises to be an exciting range of cannabis-infused beverages. This collaboration is further validation of Peak’s significant and unique capabilities in the Cannabis 2.0 space, and the latest in a growing list of strategic and innovative partnerships.”
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