Delta, Kelowna, BC – July 13, 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 #586, Cannabis News and Stocks on the Move; (NASDAQ: OGI) (TSX: OGI), (CSE: CURA) (OTCQX: CURLF) (CSE: PULL) (OTC: PRXTF)
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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 private and public company announcements.
Organigram Holdings Inc. (
NASDAQ: OGI
) (
TSX: OGI
), a leading licensed producer of cannabis,
announced
its results for the third quarter ended May 31, 2021 (“Q3 2021”).
“We are pleased with the growth in revenue in Q3 as we were better staffed to fulfill the demand for our revitalized product portfolio, which continues to resonate well with consumers,” said Paolo De Luca, Chief Strategy Officer. “The ongoing investment in our genetics and cultivation program has yielded some exciting new dried flower products with more genetics and derivative product launches planned for the near term. Sales are trending higher to date in Q4 supported by a strong outlook for the industry as the number of cannabis retail stores continues to grow and existing stores are permitted to re-open their doors to customers.”
* Adjusted gross margin, adjusted gross margin % and adjusted EBITDA are non-IFRS financial measures not defined by and do not have any standardized meaning under IFRS; please refer to the Company’s Q3 2021 MD&A for definitions and a reconciliation to IFRS.
** Excluding non-cash share-based compensation.
“On the expense front, we are encouraged by the progress we have made in reducing cultivation costs and capturing economies of scale as we ramp up cultivation,” said Derrick West, Chief Financial Officer. “In combination with commercial strategic initiatives, we have also identified a number of additional cost efficiency opportunities focused on enhancing our gross margin profile. We anticipate starting to see the benefits from these cost reductions during Q4 Fiscal 2021.”
According to
Reuters
, “The healthcare sector added 3.8%, on track for its best session in more than a month, as shares in OrganiGram surged 17% after the pot producer reported a jump in quarterly net revenue.”
B Noble Inc. and Curaleaf Holdings, Inc. (
CSE: CURA
) (
OTCQX: CURLF
), a leading international provider of consumer products in cannabis,
today announced
the launch of the B Noble brand in Massachusetts and Maryland, with a national rollout continuing into Fall 2021.
B Noble was founded by well-known visual artist, filmmaker and hip-hop pioneer, Fab 5 Freddy, to raise awareness and create funding to defend people from cannabis-related criminalization. The brand is dedicated to telling the story of namesake Bernard Noble, who was arrested in Louisiana and sentenced to 13 years hard labor in prison for possessing the equivalent of two joints. In 2017, Bernard’s case began to draw attention across the country, and he quickly became a national symbol for the need to reform the country’s unjust drug laws, sparking advocacy and a movement to free him. As a result, Bernard was released seven years into his sentence.
To call attention to Bernard’s harsh sentence, the B Noble brand will partner with Curaleaf today, on 7/13 (a date representing the 7 years of a 13-year sentence that Bernard served), to release two-packs of high-quality one-gram pre-rolls, symbolizing the two grams of cannabis for which Bernard was arrested.
“Making the film ‘Grass is Greener’ for Netflix, I got an in-depth education about the history and truth around cannabis,” said Fab 5 Freddy. “And the many lies told that led to this vital plant’s criminalization and the thousands of lives damaged, like Bernard Noble’s, which became a call to action for me.”
“My life re-started when I walked out of prison with the cameras rolling on me, and I met Fab. I’m excited to now be working with Curaleaf in helping to educate, inform and bring a high-quality product to the people,” said Bernard Noble.
Ten percent of proceeds from the sale of each B Noble product will be donated to a local organization dedicated to advancing social equity and providing opportunities to those directly impacted by the War on Drugs. Massachusetts products will benefit MASS CultivatED, an organization that supports cannabis reform and helps provide pathways toward a successful post-incarceration future. In Maryland, proceeds will go toward Changing Perceptions, an organization working with previously incarcerated individuals seeking to re-enter the workforce. These carefully selected organizations are supporting those who were incarcerated for non-violent cannabis-related charges and working to remove the residual societal barriers associated with a cannabis-related conviction, setting up newly liberated citizens for a successful transition home and for future opportunity.
“We are incredibly proud to bring this brand and product to market with Bernard Noble and Fab 5 Freddy. Bernard’s life epitomizes the countless individuals who share his story, and this partnership serves as a reminder of the change and opportunity that can happen when people work together,” said Curaleaf Chief Executive Officer Joe Bayern. “We at Curaleaf are thrilled to use our national platform to advance social equity in cannabis, and support a brand with such tangible purpose.”
This partnership with B Noble is Curaleaf’s first large-scale brand venture in alignment with its dedicated social equity work, as a part of its Rooted in Good corporate social responsibility program. Led by Vice President of Corporate Social Responsibility Khadijah Tribble, Rooted in Good delivers social impact by focusing efforts within three key pillars: Diversity, Equity, and Inclusion; Social Equity; and Sustainability, ultimately achieving key goals through the Company’s strategic social partnerships.
B Noble Pre-Rolls can be found in Massachusetts and Maryland Curaleaf retail locations and at key wholesale partner stores, with additional states to come. To learn more about B Noble, please visit:
www.curaleaf.com/BNOBLE
.
Pure Extracts Technologies Corp. (
CSE: PULL
) (
OTC: PRXTF
), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector,
announced
that its wholly-owned subsidiary, Pure Mushrooms Corp., has submitted a licence application to Health Canada’s Natural and Non-Prescription Health Products Directorate for a blended functional mushroom wellness product.
This application for a blend of cordyceps, reishi and lion’s mane follows-up on the Company’s successful launch on its Amazon online e-Commerce store of sales of its reishi and maitake formulations. These 2 products are appealing to both men and women with 57% of purchases coming from men and 43% from women with the most sales occurring in California followed by Florida, then Georgia.
The new blended formula provides antioxidants that help protect cells against the oxidative damage caused by free radicals. It is also used in Herbal Medicine as a liver tonic, to support the immune system and as an adaptogen to help increase energy and resistance to stress. Product launch is expected to occur in Q4 2021.
Pure Extracts’ CEO, Ben Nikolaevsky, remarked, “We are excited to be creating our next Pure Mushrooms’ products for our direct-to-consumer, online store. The functional mushroom wellness market is experiencing robust sales as many consumers are trying to boost their immune systems in light of the COVID-19 pandemic. As we build-out our mushroom extraction facility, we plan to bring more products to market.”
CannSell, the sole mandated cannabis retail training platform in the Province of Ontario,
announced
the initial results of its recent product knowledge expansion partnership with PAX Labs, a San Francisco, California-based leader in premium cannabis vaporizer technology.
In an effort to provide thorough vape category leadership and education to cannabis retailers, PAX has created the PAX Certified education program (“the Program”), now available to budtenders, retailers, clinics, partners and licensed producers across Canada. In addition, CannSell and PAX are pleased to offer authorized budtenders the opportunity to access PAX Certified through the CannSell platform, with the goal of enhancing their product knowledge and furthering the authority, confidence and knowledge base of participants in advising on cannabis vapour tech and products.
Through this ongoing partnership and the PAX Certified program, CannSell and PAX Labs will continue to pursue the goal of increased product and vape category knowledge and leadership throughout the industry.
At the time of this writing, the PAX Certified Program has over 1400 graduates, with over 400 participants in the process of completing their certifications. Since the partnership between PAX Certified and CannSell began, the number of PAX Certified users enrolled in the Program has increased by more than 50%, and continues to grow along with the number of new graduates and participating retailers, clinics and other partners.
“Considering the pace of the cannabis industry and the high volume of new products being introduced to the category, education plays an unsurprisingly vital role. The PAX Certified program is being well received, highlighting the importance of category specific education – in this case, vaporization. Partnering with CannSell continues to help us reach the budtenders that inform and connect directly with our customers each and every day,” stated Shawn King, Head of Marketing for PAX Canada & International.
“CannSell’s partnership with PAX is a great example of how high quality educational content can inform budtenders as the front-line gatekeepers of cannabis and cannabis accessory retail. CannSell is emerging as the definitive resource for leading industry brands to showcase their products in an engaging and educational way, keeping them top-of-mind with retail staff in their consumer interactions. The engagement that PAX has seen so far as a result of the partnership is testament to the effectiveness of CannSell as a product knowledge training platform,” stated Andy Deonarine, Director, CannSell.
In
recent news
, Atlas Growers Ltd. is recalling some dried cannabis pre-rolls sold in retailers in Alberta, Northwest Territories, and Yukon.
Three lots of its Zour Apples Full Flower dried cannabis pre-rolls were flagged by Health Canada after hazards of yeast, mould, and bacteria were identified.
The affected lots include P200027, P200044, and P210008, and were sold between Dec. 1, 2020 and July 7, 2021.
According to Health Canada, certain individuals who use the affected dried cannabis pre-rolls may experience allergic symptoms such as sneezing, coughing, itchy or watery eyes, wheezing, and runny nose or nasal congestion.
As of July 8, no serious reactions were reported from the recalled lots, Health Canada said.
Approximately 11,304 units of product are affected by the recall and were sold at licensed retailers in the two territories and Alberta and to patients at Medical Cannabis by Shoppers Drug Mart. No specifics were given on which locations sold the affected products.
Consumers are being asked by Health Canada to return the product to the retailer where it was purchased or dispose of it.
Lastly, in a recent article from
Global News
, The United States Anti-Doping Agency (USADA) has been reported saying it wants more flexible rules for athletes who test positive for
cannabis
after the White House was reported to be seeking a meeting with the World Anti-Doping Agency
(WADA)
to discuss easing restrictions.
The debate over cannabis use by athletes was reignited after American sprinter Sha’Carri Richardson tested positive for the drug last month at the U.S. Olympic Track & Field trials.
The 21-year-old, who was seen as the top contender for the 100 meters gold at the July 23-Aug. 8
Tokyo Games
, got a one-month ban, making her ineligible for the U.S. team.
Richardson said in an NBC Interview that her action came while she was dealing with the news of the death of her mother.
The suspension sparked an outpouring of sympathy, including from President Joe Biden, and calls for a review of anti-doping rules from the White House according to the Financial Times.
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