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Published at Fri, 15 Nov 2019 15:28:59 +0000
BOULDER, CO, Nov. 14, 2019 /CNW/ – PRESS RELEASE – Charlotte’s Web Holdings, Inc. a hemp CBD extract products company, has announced the appointment of Jacques Tortoroli to its Board of Directors.
Tortoroli, who most recently served as Chief Administration Officer of Bacardi Limited in Bermuda, brings extensive global experience in finance and operations at both private and public companies. As CAO of Bacardi, the largest privately held spirits company in the world, he was a member of the Global Leadership Team and responsible for global finance, operations, information technology and real estate.
Before joining Bacardi in 2014, Tortoroli had spent more than a decade at Viacom, Inc. He held a number of senior finance roles at the multinational entertainment company, most recently serving as both Executive Vice President of Finance for Viacom and as EVP and Chief Financial Officer for Viacom Media Networks, formerly MTV Networks. Prior to that, he held various executive leadership roles at Young & Rubicam, Inc., PepsiCo, Inc., and KPMG.
Tortoroli also recently accepted a position as Executive in Residence and Lecturer at St. Thomas Aquinas College in New York. He has been a member of the college’s Board of Trustees since 2001, serving on the Audit Committee and the Investment & Finance Committee. Tortoroli previously served as a Board Member of the International Baccalaureate, as head of the Audit and Finance Committee and member of the Compensation Committee, Geneva and Cardiff.
“Jacques’ appointment is timely, with the company exploring plans to expand globally as the market leader in CBD products,” said Charlotte’s Web Chairman of the Board and Co-Founder Joel Stanley. “His deep financial knowledge and breadth of international experience in public and private companies will make an important contribution during our next phase of growth.”
Tortoroli stated, “I am honored to serve on the Charlotte’s Web Board of Directors. It’s an exciting time in the growing CBD industry, and Charlotte’s Web has earned its dominant market position through a combination of innovative products and world class executive talent.”
Tortoroli, who will serve on the Compensation and Audit Committees, brings the number of Directors to seven. In addition to Joel Stanley, he joins Jared Stanley, the Company’s Co-Founder and Vice President of Cultivation Operations; Charlotte’s Web CEO Deanie Elsner; John Held, Executive Vice President, General Counsel, and Secretary of Omega Protein Corporation; William West, Co-Founder and President of Tesseract Medical Research; and Shane Hoyne, Managing Director & Chief Marketing Officer of Quintessential Brands Group.
Published at Sat, 16 Nov 2019 11:00:00 +0000
Isracann Biosciences Announces OTC Trading Symbol Change to “ISCNF”, Effective November 15, 2019
Isracann Biosciences Inc. (CSE: IPOT) (FRA: A2PT0E) (OTC: ISCNF) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both Israeli and European export sales, is pleased to announce that the Financial Industry Regulatory Authority, Inc. has approved the Company’s request to change its OTC ticker symbol to ISCNF, effective as of the opening of market trading on November 15, 2019.
The previous trading symbol was ATLED and has been changed to more accurately represent our corporate brand and primary operations in the cannabis sector. The Company is also pleased to announce that it has secured DTC eligibility by The Depository Trust Company (“DTC”) for electronic settlement and transfer of its common shares in the United States.
“Trading under the new OTC ticker symbol ISCNF and achieving DTC eligibility is a major step forward in making it materially easier for US-based investors who are intrigued by the idea of buying shares in an Israeli cannabis venture operated by sector experienced entrepreneurs and capital markets professionals. Our strategic aim is straightforward and leverages the national brand excellence of the Israeli agricultural industry combined with planned industrial scale production of low cost premium quality cannabis targeting export into the massive European marketplace. It’s a uniquely scalable venture that combines numerous positive attributes including a team that knows how to execute,” stated Darryl Jones, Company CEO. “This is an important step in propelling our story to wider audiences and to materially grow our investor base.”
No action is required to be taken by current shareholders with relation to the trading symbol change, and no changes have been made to the Company’s share capital, management, or control. Isracann’s shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol CSE: IPOT, as well as the Frankfurt Stock Exchange under the symbol FRA: A2PT0E.
Updates relating to the additional corporate changes mentioned above will be announced as initiatives continue to progress.
ON BEHALF OF THE BOARD OF DIRECTORS
“Darryl Jones”
Darryl Jones
Chief Executive Officer and President
About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQX Best Market, the OTCQB Venture Market, and the Pink Open Market for 10,000 U.S. and global securities. Through OTC Link ATS and OTC Link ECN, the OTC Markets Group connects a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets Group enables investors to easily trade through the broker of their choice and empowers companies to improve the quality of information available for investors.
About the Depository Trust Company
The Depository Trust Company (“DTC”), a subsidiary of the Depository Trust & Clearing Corporation (“DTCC”) and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This reduces costs and accelerates the settlement process for investors and brokers, allowing the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
About Isracann Biosciences Inc. (CSE: IPOT) (FRA: A2PT0E) (OTC: ISCNF)
Isracann is an Israeli-based cannabis company focused on becoming a premier cannabis producer offering low-cost production targeting undersupplied, major European marketplaces. Based in Israel’s agricultural sector, Isracann will leverage its development within the most experienced country in the world with respect to cannabis research. The Company has secured agreements within Israel for medicinal marijuana cultivation. For more information visit: www.isracann.com.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ, materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.
Contact
Investor Relations
Toll Free: +1 855.205.0226
Email: inquiries@isracann.com
Web: www.isracann.com
News by QuoteMedia
www.quotemedia.com
Published at Fri, 15 Nov 2019 14:13:27 +0000
This Week in Cannabis November 15th
It was a tumultuous week in the cannabis industry, to put it mildly. Several Canadian cannabis companies released strong, profitable quarterly results this week. None of them rose in value.
Despite the current rock-bottom valuations in the cannabis sector. Despite mainstream media claims that it was “lack of profitability” that was causing cannabis stocks to fall. We thought it was time to take a hard look at what is going on in North American equity markets.
In the U.S., we looked at cannabis industry lobbying. Then we reported on another symptom of California’s unhealthy legal cannabis industry.
Monday, we began the week looking at a dramatic increase in lobbying by the U.S. cannabis industry. Nearly $4 million spent this year, and almost half of that in the last two months. We reported on who was doing the lobbying. And we looked at why greater political lobbying is badly needed in the United States.
We then reported on big news from Aleafia Health (CAN:ALEF / US:ALEAF / GER:ARAH). Aleafia’s first Canadian outdoor harvest (10,300 kilograms) has produced cannabis at a cash cost of CAD$0.08 per gram. We called that a “a game-changer for Canadian cannabis” in the battle to phase-out the cannabis black market.
Aleafia jumped 30% on the news. Then those gains were immediately clawed back, despite Aleafia announcing its first profitable quarter, the next day. We had more to say about this incredible, perverse move in Aleafia’s share price.
Tuesday, we struck a more positive note. In a past/present/future look at the Canadian cannabis industry, we explained how and why Canadian cannabis retail is poised for an “explosion”. Lots more stores. Lots more consumers. Lots more products. And enormous potential for sustained future growth.
We then reported on another profitable Canadian cannabis company, MediPharm Labs (CAN:LABS / US:MEDIF). Revenues up 38% from the previous quarter. Gross profit up 30%. Net income up 32%. The share price? Down.
Wednesday, we took the gloves off and took a swing at North American equity markets. We have a cannabis industry that, despite government-related delays, continues to advance steadily. We have companies that are steadily building markets and increasing their revenues.
Now, despite the early stage of the legal cannabis industry (especially in Canada), increasing numbers of these companies are already becoming profitable. But all of these companies are seeing their share prices relentlessly decline.
We addressed a subject that is taboo to the Corporate media (which are all large, publicly-listed companies): market corruption. We’re past the point where we can refer to cannabis stock valuations as “irrational”. We explained why “sentiment” no longer exists in our markets – where 75% of trading is done by price-fixing computer algorithms, not people.
There is “blood in the streets” of the cannabis industry. Today, it is the blood of cannabis longs. When these valuations reverse, it will be cannabis shorts doing all of the bleeding.
Then we turned back to California’s cannabis industry. Valuations for U.S.-based companies are also artificially compressed. But political incompetence also continues to undermine the industry.
Two California-based cannabis companies just announced lay-offs. It’s not because of a lack of “cannabis demand”. It’s because three-quarters of California’s cities and counties have chosen to support the cannabis black market. Only one-quarter are supporting the legal industry. And the irredeemable idiots in Sacramento allow this to continue.
Thursday, the provincial government on Ontario was in our crosshairs. We reported on how the legal cannabis industry has (literally) been reduced to publicly begging Ontario’s government to license more cannabis stores.
We suggested that instead of begging, Canada’s cannabis industry should advertise.
Let Ontario’s 10+ million voters know about the $100’s of millions in cannabis revenues that Doug Ford pissed down the drain. The $10’s of millions in lost tax revenues. And $10’s of millions in additional, direct losses by the Province. [Editor’s note: Friday, news came out that Ontario’s government has wasted at least CAD$10 million on spending for cannabis stores that never opened.]
Speaking of Ontario, Ontario-based Canopy Growth Corp (US:CGC / CAN:WEED) reported another weak quarter. Not surprisingly, shareholders are being punished.
It’s not all the fault of Ontario’s government. But Ontario represents roughly 40% of Canada’s population yet has only 3% of its cannabis stores. That’s why Canada’s legal cannabis industry is now begging Doug Ford for more cannabis stores.
Friday, we wrapped up the week looking at the quarterly results of another Canadian cannabis heavyweight, Aurora Cannabis. Here there was a much different picture.
Revenues were down (as had been telegraphed to the market). But Aurora reported a CAD$53.7 million gross profit. Gross margins were 58%. (Indoor) cultivation cash costs fell to an industry-leading CAD$0.85 per gram.
Yet even with Aurora already nearly 70% off of its 2019 high, it fell an additional 17% by market close. We again addressed the issue of corruption in equity markets.
It was a strong week for the cannabis industry, with several more Canadian cannabis companies announcing profitability. But it was another ugly week in equity markets. And it was another ugly week in terms of the political ineptitude that continues to undermine the cannabis industry.
It’s going to get better. But probably not tomorrow. Next week, we plan on starting the week with our suggestions on the cannabis companies that could lead the way in the Next Rally.
Published at Fri, 15 Nov 2019 22:29:49 +0000
New Mexico Medical Cannabis Program Sees Dramatic Increase in Out-of-State Enrollees
ALBUQUERQUE, N.M., Nov. 13, 2019 (GLOBE NEWSWIRE) — PRESS RELEASE — Patient enrollment in New Mexico’s Medical Cannabis Program reached 78,362 patients as of Oct. 31, 2019, according to data compiled by Ultra Health and released by the New Mexico Department of Health (NMDOH). October’s enrollment represents an increase of 25% over patient participation in October 2018.
A total of 130 patients who reside outside of New Mexico have been issued three-year patient cards that allow them to purchase medical cannabis while in the state. The out-of-state enrollment increased by 118 patients during the month of October alone.
Out-of-state patients are coming from several states including Texas, Arizona, Oklahoma, Colorado, Kansas, Illinois and Michigan. A majority of out-of-state patients are coming from Texas. Mexican nationals are also enrolling in the program, according to data released by NMDOH via public document inspection.
The increased out-of-state enrollment is the result of Santa Fe District Court Judge Bryan Biedschied’s ruling that ordered NMDOH to issue three-year patient cards to nonresidents. New Mexico’s Medical Cannabis Program is the first and only program to allow nonresidents to receive three-year cards and purchase medical cannabis while in the state.
Given New Mexico’s proximity to Texas, enrollment is expected to make substantial leaps as the public becomes aware that nonresidents are officially allowed to enter the program.
“Four of New Mexico’s five border states have their own medical cannabis programs. The exception, Texas, is home to over 26 million people, roughly two million of whom live within two hours of the New Mexico border. If one percent of Texans living in close proximity to the New Mexico border enroll in the MCP, the program will add 20,000 patients and demand will increase by 18.4 million grams annually,” states a public comment on plant count written by economist Kelly O’Donnell in May of 2019.
A separate estimate of the impact of the new legislation was put forth by the NMDOH. “…if only five percent of two million Texas residents were to enroll in the New Mexico Medical Cannabis Program, enrollment in the Program would increase by 100,000, more than doubling the current enrollment of approximately 77,000 patients,” NMDOH Secretary Kathy Kunkel stated in an Affidavit on Sept. 12, 2019.
The increasing number of out-of-state patients enrolling in the Medical Cannabis Program is expected to impact cannabis policy changes across the U.S., as portability of access and participation is advocated to ensure continuity of care.
Out-of-state enrollment is also expected to strengthen the medical program by increasing medical cannabis sales in New Mexico and overall enrollment. The New Mexico program is expected to surpass 80,000 patients by the end of the year.
Published at Wed, 13 Nov 2019 19:41:00 +0000
Innovative Industrial Properties Inc (NYSE:IIPR) Closes A Sale-Leaseback Deal With Grassroots
Innovative Industrial Properties Inc (NYSE:IIPR) closed on a sale-leaseback deal worth $10.5 million with
a subsidiary firm of GR Companies Inc. for a property based in Litchfield. This
property comprises around 70,000 square feet of an industrial area.
Concurrent with the
agreement closure, Innovative Industrial finalized a triple-net lease deal for
the property with Grassroots. The company would continue to run the property as
registered cannabis grows and processing center. Grassroots is also anticipated
to work on additional tenant developments for the property. This includes a
planned expansion, for which the company will give reimbursement of up to
around $17.7 million. Assuming full reimbursement, the company’s total
investment in the leased property will be around $28.2 million.
Mitchell Kahn, the
Founder and CEO of Grassroots expressed that associating with a proven real
estate capital firm, was a logical choice for them. This helps them to free
their funds to be redeployed into their operations. Innovative Industrial team
has been acting quickly to address Grassroots real estate capital requirements
with a perfect solution for them. With the expansion of production capacity,
Grassroots can address the demand of customers and patients of Illinois. Kahn
leads an extremely proficient management team with an exceptional track record
of establishing and running highly successful firms in a broad range of
markets, including finance, real estate, merchandising consumer products, and
cannabis.
As a leading real
estate investment trust for the medical-use cannabis market, Innovative
Industrial partners with proficient medical-use cannabis firms and provides
funds by acquiring and leasing back operators’ real estate assets.
Grassroots is one of
the top cannabis operators, with its businesses in Illinois, Pennsylvania,
North Dakota, Maryland, Ohio, Michigan, Nevada, Vermont, Connecticut, Arkansas,
and Oklahoma.
Paul Smithers, the
CEO and President of Innovative Industrial, expressed that they are thrilled to
finalize this real estate deal with Grassroots. With their reputation for top-quality
products and using their team’s deep expertise, Grassroots has become one of
the top firms in the regulated cannabis market.
More recently, Bill Hodson, the CEO and Chairman of Livewire Ergogenics Inc (OTCMKTS:LVVV)
discussed…
Integrated Cann (OTCMKTS:IGPK) issued an update on the form S1
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Published at Tue, 12 Nov 2019 13:16:45 +0000
PharmaCyte Biotech’s (OTCMKTS:PMCB) To Validate Its Cell-In-A-Box Encapsulation Technology
PharmaCyte Biotech’s (OTCMKTS:PMCB) encapsulation technology could soon transform the treatment and
management of difficult-to-treat diseases.
The company is nearing the second phase of clinical evaluation in
locally advanced pancreatic cancer, which will give patients hope by shrinking
tumors for easier surgical removal.
Usually, clinical trials are very important in developing new treatments. In this case, PharmaCyte will conduct the upcoming trial with two objectives in mind. They will be focusing on the future of encapsulation technology as well as its treatment for pancreatic cancer. The ability to shrink tumors will significantly address a genuine unmet medical need for unresponsive patients to first-line therapies. Equally, the other significance for PharmaCyte is to use its first clinical trial invalidating or proving that the Cell-in-a Box encapsulation tech is safe and effective to use in patients.
Kenneth
Waggoner, the CEO of PharmaCyte, indicated that the company was on the verge of
transforming future treatment. He added that there is constant development of
new cell lines especially genetically engineered ones for the treatment of
various diseases. Therefore with the validation
of the Cell-in-a-Box technology, it will be possible to help the cell lines
becomes successful in the treatment of diseases per the design of the cell
line.
During the Phase 2b clinical trial, the company will introduce the technology to the public. Cell-in-a-Box is a cellular therapy protecting over 20,000 genetically engineered live cells. The tech will be under FDA trail, and if it can demonstrate that it can shrink tumors in patients, that will be a huge milestone. Similarly, it could be a success if the cells in the microcapsule can remain viable as well as be within the area they are placed.
The lead
investigator in the clinical trial will be a renowned clinician and oncologist,
Manuel Hidalgo. Hidalgo stated that the objective of the trial is to establish
the efficacy of the approach relative to other treatments in managing locally
advanced pancreatic cancer. The technology will become a therapeutic option for
LAPC patients if it meets the endpoint.
Like most disasters, nobody ever knows when a medical
emergency is about to happen. This is why it is…
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Published at Fri, 08 Nov 2019 05:53:11 +0000
Livewire Ergogenics Inc (OTCMKTS:LVVV) Evolution Continues With Estrella Ranch Property
More recently, Bill Hodson, the CEO and Chairman of Livewire Ergogenics Inc (OTCMKTS:LVVV)
discussed the company’s growing role in the cannabis industry. The CEO, who
joined NNW’s Stuart Smith in an interview, said that the cannabis market is
growing at an exceptional pace in California.
Going with the trend, they have decided to pivot the
firm as a health and wellness entity for the equine and human sector in the
cannabis industry. They are confident that with a product that has massive
potential, they can expand their reach in the cannabis market.
Livewire has recently bought the Estrella Ranch property
to support its evolution in the cannabis market. Estrella Ranch currently has
three large residences, around 50,000 square feet of present buildings. The
company would be transforming Estrella ranch into the “Estate Grown Weedery.”
It has already started to develop the ranch into a vertically integrated,
premium cannabis center and cannabis-based wellness retreat with outdoor and
indoor cultivation.
The CEO of Livewire said that this development is
going to be extremely different and special for the market. Investors or
shareholders would understand the massive potential once they visit the ranch
property. It is one of the most beautiful pieces of property and is a gem in
the center of the California wine country,
Estrella Ranch boasts excellent infrastructure,
abundant water supply, perfect micro-climate, and sufficient power to put out
the premium product and build an extensive portfolio of high-end brands. Estrella
Weedery would come as a central location to support its operations, and this
marks as a big achievement for the company. In the last few years, the company
has performed its environmental and legal research, secured many vital permits
that have placed Livewire in the competitive race. Hodson added that they are
well-positioned for exceptional success.
Hodson’s expertise
as a marketing professional and consummate CEO offers a privileged dynamic to
the company. Under his leadership, Livewire started exploring the cannabidiol
industry over five years ago.
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filing. It has kept S1 filing on hold…
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(OTCMKTS:NXTTF) has
reported marginally lower revenues of 3.8 million CAD in…
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Slang Worldwide Inc
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Published at Mon, 11 Nov 2019 13:05:23 +0000
This Week in Cannabis Investing November 8th
There was almost too much for cannabis investors to soak up this week from the world of cannabis. We took another look at Alberta’s cannabis success and Ontario’s continued stumbles – even as local governments in Ontario warm up to legal cannabis.
We looked at two, important emerging markets for the legal cannabis industry. We reported on the call of a “bottom” for cannabis stocks. In the U.S., cannabis entrepreneurs in California were coming up with a new marketing angle, while we looked at some interesting numbers from Colorado’s cannabis industry. Finally, we ended the week asserting that Canada is still #1 for cannabis investing.
Monday, The Seed Investor saluted the province of Alberta as Canada’s “pot juggernaut”. Alberta opened up over 300 cannabis stores in Year 1 of full legalization in Canada. What does it plan for an encore? Five hundred legal stores by the end of 2020.
At one point, the province had opened as many cannabis stores as the rest of Canada combined. We also compared Alberta’s performance to U.S. states. Only Colorado has accomplished more in legalizing cannabis. But that state has a five-year head-start.
Also on Monday, we reported on Ontario communities that are now ready to welcome legal cannabis. This comes as the provincial government has demonstrated still more incompetence and neglect in licensing new cannabis stores in Ontario. More on that later.
Tuesday, we led off coverage with a large, potential market for the legal cannabis industry that no one is talking about – yet. Cannabis as a weight management supplement.
Evidence mounts that cannabis use helps to moderate people’s weight and (in particular) help people to stay at a healthy weight. Globally, the weight-loss industry takes in over $200 billion per year while delivering extremely dubious results for the majority of its customers.
Cannabis can’t do worse for people wanting to lose weight. And it could easily do better – safely and cheaply.
After that, we covered yet more news from Choom Holdings (CAN:CHOO / US:CHOOF). Choom has secured another retail location site for Vancouver’s large, under-served cannabis market.
Closing out Tuesday coverage, we reported on something that will be music to the ears of long-suffering cannabis investors. A New York-based analysis has gone further than merely saying that cannabis stocks are oversold. Pablo Zuanic of Cantor Fitgerald is “calling a bottom”.
Zuanic added that “positive catalysts far outweigh negative ones”. This is precisely what we have been saying at The Seed Investor over the past two months.
Wednesday, The Seed Investor trumpeted Canada’s “fastest growing group of cannabis users”: senior citizens. We explained how and why it is inevitable that consumption growth rates among older people will outpace younger consumers going forward. This is yet another reason why long-term growth in the cannabis sector is likely to greatly exceed current estimates.
Then we headed south. California is once again in the news for an innovative approach to cannabis marketing. First it was a “cannabis open house”, then a “cannabis café”. Now the state is planning to be first to offer cannabis-themed hotels.
Thursday, it was a tale of two extremes. We looked at some surprising numbers from Colorado’s extremely successful cannabis industry. And we pointed to yet more futility from Ontario’s provincial government in regulating cannabis commerce.
In Colorado, to our great surprise, we noted that (as of May 1, 2019) nearly two-thirds of Colorado’s cities and counties ban legal cannabis stores. This isn’t far behind the numbers from California. And California’s legal industry remains a train-wreck in progress.
The bottom-line is that this suggests even more long-term growth potential is still on the table in Colorado.
Then we took another (painful) look at Ontario’s provincial government. The province has “promised” 50 new cannabis store licenses. It’s only considering about 30 applications at present. And now the government has gone silent as to any progress on these new licenses.
It gets worse. A new estimate is that Ontario’s failure to roll out legal cannabis has cost the Canadian cannabis industry as much as CAD$325 million – already. We suggested that even that number could be a significant understatement.
Friday, we got more upbeat. We (once again) reviewed the strengths of the Canadian cannabis industry. And for several reasons, we still see Canada as the #1 jurisdiction for cannabis companies and cannabis investing.
Our analysis was a mixture of reviewing the past, examining the present, and looking ahead to the near-term future. Higher cannabis consumption rates, a (much) stronger corporate climate, and much more outside investment capital all play into Canada’s advantages.
We ended up this week looking at a new joint venture for the Canadian cannabis market, between music superstar Drake and cannabis heavyweight Canopy Growth (US:CGC / CAN:WEED).
It’s a marketing coup for Canopy (and Drake himself). However, we pointed out how this illustrates the inconsistency (and plain stupidity) of cannabis advertising restrictions in Canada.
That filled out plate for the week in reporting on the cannabis industry. The U.S. remains at a critical stage on several regulatory fronts. Canada continues to gear up for Cannabis 2.0. There is no reason to expect any drop-off in news and activity in the cannabis industry.
DISCLOSURE: Choom Holdings is a client of The Seed Investor.
Published at Fri, 08 Nov 2019 21:55:28 +0000