1933 Industries Is Taking The Initial Steps To Turn Around The Company Starting At The Top

1933 Industries Is Taking The Initial Steps To Turn Around The Company Starting At The Top

Last week, we had the opportunity to speak with the new Chief Executive Officer of 1933 Industries Inc. (TGIF.CN) (TGIFF) Paul Rosen. We left the conversation feeling increasingly excited about the direction that he is taking the business and believe that this is a turnaround story in the making.

When Paul was appointed as CEO a few weeks ago, he made a few immediate changes to the company that were centered around reducing expenses and bringing the business down a path to profitability. With Paul at the helm of 1933 Industries, we believe that the business will emerge from the current market environment in a better position than when it has entered.

When Paul initially took over the role of CEO, he put a major emphasis on strengthening the company’s balance sheet and has been executing on this strategy. 1933 Industries recently announced amendments to previously issued debentures that cleaned up the balance sheet and lowered the amount of debt that the business was holding.

By amending the previously issued debentures, 1933 Industries is better positioned for growth and we are favorable on this change. Paul is one of the largest shareholders of the company and we believe that he is putting his money where his mouth is by executing on this strategy. Another major focus for Paul is on the e-commerce side of the business, especially as to how it relates to Canna Hemp, a wholly owned subsidiary.

By putting a major emphasis on the e-commerce side of the business, we expect the cannabidiol (CBD) brands that fall under 1933 Industries’ umbrella to gain traction with consumers across the country. Over the long term, we expect this focus to have a positive impact on profit margins and are favorable on this aspect of the story.

1933 Industries’ Canna Hemp subsidiary has been approved to sell CBD products through several leading online retailers Amazon and Walmart. These relationships are expected to be a substantial catalyst for growth, and we believe that the market does not take these strategic partnerships into account when measuring the value of the business.

Another important vertical of 1933 Industries is Alternative Medicine Association (AMA) and we are bullish on the growth prospects that are associated with the new facility that it operates out of. Currently, 1933 Industries is producing considerably more cannabis than ever before, and we expect this to have a positive impact on the fundamentals of the business.

The addition of Paul to the 1933 Industries team is a significant development and we believe that the market underappreciates what he brings to the company. Paul is a pioneer in the cannabis sector and has been successful with several high-profile brands and leading businesses. The expertise that he brings to 1933 Industries is invaluable and we believe that he will play a key role in the success of the business.

Going forward, Paul is focused on optimizing the top line of the business, enhancing margins by minimizing expenses, recruiting strategic additions to the management team, and improving operations. We are favorable on the focus of the business and expect these initiatives to have a substantial impact on the long-term success of the operation.

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Authored By

Anthony Varrell

Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Published at Thu, 02 Jul 2020 11:26:08 +0000

Marijuana Stocks To Watch On July 4th

Marijuana Stocks To Watch On July 4th




Marijuana Stocks To Watch On July 4th | Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™
























Published at Fri, 03 Jul 2020 15:27:23 +0000

MPV Exploration Inc. Announces Definitive Agreement for Amalgamation with Entheon Biomedical Corp and Financing

MPV Exploration Inc. Announces Definitive Agreement for Amalgamation with Entheon Biomedical Corp and Financing

MONTREAL, July 02, 2020 (GLOBE NEWSWIRE) — MPV Exploration Inc. (“MPV” or the “Company”) is pleased to announce that it has executed a definitive agreement (the “Definitive Agreement”) with Entheon Biomedical Corp. (“Entheon”), whereby the Company will acquire all of the issued and outstanding shares of Entheon pursuant to a three-cornered amalgamation in accordance with Section 269 of the Business Corporations Act (British Columbia) as further detailed below (the “Transaction”). The Transaction will constitute a “Fundamental Change” of the Company as defined by Canadian Securities Exchange (“CSE”) policies.

Pursuant to the Definitive Agreement, the Company will complete a consolidation of its issued and outstanding common shares (the “Consolidation”) on the basis of one post-Consolidation common share (the “Company Shares”) for every three (3) outstanding common shares in the capital of the Company. Following the Consolidation, each of the shareholders of Entheon (the “Entheon Shareholders”) will receive one (1) Company Share in exchange for each share held in the capital of Entheon (the “Exchange Ratio”) and holders of convertible securities in Entheon will receive Company Shares, subject to the Exchange Ratio, in lieu of Entheon Shares that such holder is entitled to receive upon conversion of the Entheon convertible security. 

As a condition to the completion of the Transaction, Subco (as defined below) must complete a private placement financing as detailed below (the “Concurrent Financing”). Upon completion of the Transaction, the Company will change its name to “Entheon Biomedical Corp.” or such other similar name as the parties may agree to (the “Name Change”).

Following completion of the Transaction, the Company will be carrying on the business of Entheon, which will be the research and development of psychedelic drug products for the purposes of treating addiction and mental health issues. Entheon intends to conduct clinical trials and submit drug products for regulatory approval in multiple jurisdictions.

The Transaction will be structured as a three-cornered amalgamation in accordance with Section 269 of the Business Corporations Act (British Columbia) in which Entheon will amalgamate with 1254912 B.C. Inc., a newly incorporated, wholly-owned subsidiary of the Company (“Subco”), formed solely for the purpose of conducting the Concurrent Financing and facilitating the Transaction. Following the Transaction, the amalgamated company will be a wholly-owned subsidiary of the Company.  

Concurrent Financing

In connection with the Transaction, MPV, through Subco, intends to complete a non-brokered private placement of subscription receipts at a price of C$0.375 (the “Subscription Receipts”) per Subscription Receipt such that there is at least C$2,000,000 in working capital in the Company at the closing of the Transaction.

Each Subscription Receipt will be deemed to be exchanged upon satisfaction of the Release Conditions (as defined below) without payment of any additional consideration, for one unit of Subco (each a “Unit”). Each Unit will be comprised of one Class A non-voting common share in the capital of Subco (each, a “Subco Class A Share”) and one-half of one share purchase warrant of Subco (each whole warrant, a “Subco Warrant”), which entitles the holder thereof to purchase a Subco Class A Share at a price of C$0.60 for a period of two years from the date the Subscription Receipts are converted into Units. Entheon, following completion of the Transaction, will use the net proceeds from the Concurrent Financing to carry out its preclinical and human proof of concept studies determining safety, tolerability and dose finding specific to DMT in the treatment of addictive disorders and for general working capital purposes.

The gross proceeds of the Concurrent Financing will be deposited in escrow on the closing date and shall be released to Subco upon MPV and Entheon having obtained the approval of the CSE and completion of certain other administrative matters (the “Release Conditions”).

Closing of the Concurrent Financing is subject to negotiation and execution of definitive documentation and receipt of all regulatory approvals.

About Entheon Biomedical Corp.

Entheon is a biotechnology company committed to the development of safe and effective psychedelic medicines in order to provide patients with access to evidence-based treatments for addiction disorders. Entheon’s objective is to address the lack of treatment options available to those suffering from addiction. Psychedelics have a long history in the treatment of addictive disorders, and the company is working alongside a growing community of scientists and medical professionals to dispel and overcome the many misconceptions with respect to the clinical use of psychedelic medicines.

Entheon is currently investing in research with the aim to develop and commercialize a portfolio of psychedelic therapeutic products for the treatment of addictive disorders. Initially, Entheon will utilize DMT, a psychedelic molecule with a long history of safe use in humans, intending to create the first clinical application of the molecule for addiction disorders.

About MPV Exploration Inc.

MPV Exploration Inc. is a mineral exploration company focused on base metals projects in the Chibougamau region of Northern Quebec. Its main asset is the UMEX Copper-Zinc project, which is located approximately 50 kilometers West of the town of Chapais on traditional Eeyou Istchee Territory and covers a total 7,000 hectares over a length of 16.8 kilometers. Documented mineralization on the UMEX property consists of volcanic massive sulphides (VMS) within the Abitibi Greenstone Belt, which is known for its numerous precious metals and polymetallic deposits.

About the Combined Company

Upon completion of the Transaction, the resulting Company (the “Combined Company”) will continue to carry on the business of Entheon.

Subject to an Exchange Ratio adjustment, it is expected that upon closing of the Transaction, the Combined Company will issue from treasury 29,845,805 Company Shares to the Entheon Shareholders (not including the issuance of Company Shares pursuant to the Concurrent Financing), and that after such issuances, the Company will have approximately 35,880,976 issued and outstanding Company Shares on a non-diluted, post-Consolidation basis (not including the issuance of Company Shares pursuant to the Concurrent Financing or the issuance of Company Shares pursuant to the exercise of outstanding convertible securities). Based on the foregoing, following completion of the Transaction, the current shareholders of the Company will hold approximately 16.82% of the outstanding Company Shares and the Entheon Shareholders will hold approximately 83.18% of the outstanding Company Shares on a non-diluted, post-Consolidation basis. The Company Shares issuable under the Transaction will be subject to the escrow requirements of the CSE and hold periods as required by applicable securities laws.

Completion of the Transaction is subject to a number of closing conditions, including the completion of the Consolidation, completion of the Name Change, completion of the Concurrent Financing, and applicable shareholder and regulatory approvals. There can be no assurance that the proposed Transaction or other transactions described in this news release will be completed as proposed or at all.

Upon completion of the Transaction the current directors and officers of the Company will be reconstituted and are expected to be comprised of the following:

Timothy Ko – President, Chief Executive Officer and Director

Mr. Ko is the Founder of Entheon and CEO since incorporation in June 2019. Mr. Ko has a broad background of leading private ventures in the Service Sector, Investor Relations, Retail and Technology. Most recently he served as Director of Hyperbridge Technology, a company focused on the development of decentralized technologies that facilitate crowdfunding.

Mr. Ko’s passion for the Entheogen space is shaped by firsthand knowledge of the shortcomings of the current mental health system and through his exposure to psychedelics which he credits with saving his life. Following the loss of a loved one to a decades’ long fight with mental health and addictions, and through his personal experiences, Timothy was delighted to commit himself to the lifesaving potential of this new frontier of medicine.

Brandon Schwabe, CPA, CGA – Chief Financial Officer

Brandon Schwabe, CPA, CGA has extensive professional experience in finance and accounting. He draws from over a decade working with private enterprises across the real estate and construction sector. Mr. Schwabe understands projects of all sizes and the unique challenges they face throughout their lifecycle. Mr. Schwabe works closely with senior management to assist in the development and support of strategic plans, budgets, cash management, financial reporting, and compliance.  

Mr. Schwabe is a Chartered Professional Accountant (CPA, CGA) who qualified in 2016. He also holds a Bachelor of Technology in Accounting degree with distinction from the British Columbia Institute of Technology and has completed the Canadian Securities Course (CSC) from the Canadian Securities Institute.

Dr. Andrew Peter Hegle – Chief Science Officer and Director

Dr. Hegle has been an adjunct professor of Pharmacology at the University of British Columbia since 2015. He has a background in molecular biology and biochemistry and has published research investigating the role of membrane receptor proteins in physiology, behavior and disease. Dr. Hegle’s main professional focus has been in the creation and management of laboratory operations. To that end, Dr. Hegle has held executive and operational management positions at several biotechnology companies, and was a cofounder of both Cannevert Therapeutics and Canalytic Laboratories in Vancouver. Dr. Hegle has a long-held interest in the therapeutic potential of psychedelic medicine and is delighted to commit himself to furthering this field.

Kelly Pladson – Corporate Secretary

Ms. Kelly Pladson is the current Corporate Secretary of Entheon. Ms. Pladson has provided corporate governance and regulatory compliance services to many TSX Venture Exchange and Canadian Securities Exchange listed companies since 2009. She works closely with Entheon’s officers, directors and legal counsel in maintaining corporate records and ensuring Entheon’s filings with the securities commissions and exchanges are accurately filed and in accordance with their deadlines.

Dr. Christopher Gondi, Ph.D., M.Sc. – Director

Dr. Gondi is a Research Assistant Professor – Departments of Medicine, Surgery and Pathology at the University of Illinois College of Medicine Peoria. Dr. Gondi is a professor of cancer biology and has extensive experience dealing with brain tumors and pancreatic cancer, for which the survival rates are very low. His passion for psychedelics is bred of his duty of care for patients during and after treatment of their cancer, whether the treatments fail or succeed. Knowing firsthand the difficulty many face as they approach the end of their lives, Dr. Gondi seeks to explore the therapeutic benefits of psilocybin and drugs like it in helping patients reconcile their views and prepare for whatever exists beyond life. He also sees the transformative potential of these drugs in positively affecting the lives of those suffering from substance use disorders. 

Entheon will appoint at least two further nominees to the board of the Combined Company and will disclose the name of such nominee when available.

Listing Statement and Caution

Further details about the Transaction and the Combined Company will be provided in a listing statement of the Company to be prepared and filed in respect of the Transaction. Investors are cautioned that, except as disclosed in the listing statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

Trading in the Company Shares

Trading in the common shares of the Company will be halted as a result of this announcement. Trading in the common shares will remain halted pending the review of the proposed Transaction by the CSE. There can be no assurance that trading in the common shares will resume prior to the completion of the Transaction.

For more information, please contact the Company or Entheon at:

MPV Exploration Inc.

Jean-Francois Perras, President and CEO

(514) 667-7171

Entheon Biomedical Corp.

Timothy Ko, President and CEO

info@entheonbiomedical.com (604)-562-3932

Forward Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the closing of the Transaction, the conditions to completing the Transaction, completion and terms of the Concurrent Financing, timing and receipt of regulatory, shareholder and exchange approvals, future plans and business objectives of the Combined Company and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that the proposed Transaction or related matters will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company’s ability to continue operations if the Transaction is not completed, the Company’s ability to raise further capital upon terms acceptable to the Company or at all, the Company’s ability to complete the Concurrent Financing, the Company’s ability to obtain regulatory, shareholder and exchange approvals, and the Company’s ability to complete the Transaction as currently proposed or at all. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
 

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Published at Fri, 03 Jul 2020 15:17:11 +0000

Red Light Holland Names Medical and Scientific Division

Red Light Holland Names Medical and Scientific Division

Toronto, Ontario–(Newsfile Corp. – July 3, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (“Red Light Holland” or the “Company”), an Ontario-based corporation positioning itself to engage in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce the naming and establishment of its medical and scientific division, “Scarlette Lillie Science and Innovation.” The establishment of Scarlette Lillie Science and Innovation marks an early move by Red Light Holland, to position itself to expand its business into the medical psychedelics market in the future, at such time as market and regulatory conditions present a viable business opportunity.

“While we are focusing on the recreational truffles market in the Netherlands, we are also keen on the medical market, in which we see tremendous future opportunities for Red Light Holland to help make a larger, positive change in the world,” said Todd Shapiro, the Company’s Chief Executive Officer and Director. “Scarlette Lillie Science and Innovation is named after Scarlette, my nine-month old daughter, and Lillie, the daughter of the Company’s President, Hans Derix. And so this is indeed a very proud day for both the Company, and for Hans and myself. As fathers, we want to see a better future for both of them, and for your family’s as well. We firmly believe we need more research and development into psilocybin and its potential benefits. We absolutely look forward to being an official part of that process,” added Mr. Shapiro.

Scarlette Lillie Science and Innovation is expected to be funded by a portion of Red Light Holland’s available funds from time to time, and once operational, is expected to allow Red Light Holland to initiate and expedite various science, innovation and research activities focused on, among other things, exploring the potential medical and health benefits of psilocybin and whole fungi-medicine.

Dr. Joseph Geraci, Advisor of Red Light Holland and Chief Executive Officer of Netramark Corp., added: “I’m pleased to help advise and work closely with Scarlette Lillie Science and Innovation. This division aligns tremendously well with the over two decades of efforts that I’ve personally and professionally made within neuroscience, psychiatry and important research and data collection. I believe that working with psilocybin can have an impact in helping with mood disorders and beyond. I look forward to being a part of this synergistic mission to prove these theories out, and I’m also excited to introduce my contacts from the science and medical fields to our team of visionaries.”

About Red Light Holland Corp.

The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information on the Company:

Todd Shapiro
Chairman and Chief Executive Officer
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Company will be able to execute on its business plan and/or enter into the medical psychedelics market as proposed, (ii) the Company will receive one or multiple licenses, permits, and authorizations from time to time necessary to execute on its business plan and/or enter into the medical psychedelics market, (iii) the Company’s financial condition and development plans do not change as a result of unforeseen events, (iv) there will continue to be a demand, and market opportunity, for the Company’s product offerings, (v) the Company will be able to establish, preserve and develop its brand, and (iv) the Company will be successful in attracting and retaining required personnel), although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this press release may not be indicative of, and are not an estimate, forecast or projection of the Company’s future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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Published at Fri, 03 Jul 2020 15:33:41 +0000

Why Sugarmade Inc (OTCMKTS:SGMD) Shares Have Doubled

Why Sugarmade Inc (OTCMKTS:SGMD) Shares Have Doubled

Sugarmade Inc (OTCMKTS:SGMD) shares have actually done quite a bit more than double in the past month, moving up by as much as 250% in recent weeks. The move has come on a steady rise in volume, and investors may be asking why.

The move really shouldn’t be surprising. What should be more surprising is that it took the stock until June to start moving higher given that it secured a controlling stake in BudCars, Sugarmade’s cannabis delivery business, way back in early Q1. And by the end of March, the company was already talking about the remarkable growth underway in its new operating entity.

The big catalyst for the run we are seeing appears to be linked to a combination of factors that deserve some attention.

Organic Growth

The first is simple: the data is looking great. The stock’s initial pop followed a few days after the company gave a monthly performance update for May, showing record growth data for BudCars sales during the month, featuring nearly 30% sequential monthly growth over April sales. It also noted in that release that it continues to see week-over-week sales growth at 10%, suggesting that BudCars will surpass $10 million in annualized sales by the month of August at its Sacramento location.

Sugarmade Inc (OTCMKTS:SGMD) shares started to advance a few days later

Then, after pushing up about 50% in three days on growing volume, the company announced that this wasn’t just a topline revenue pop. It was also seeing record growth in gross profits and gross profit margins for BudCars sales during the month of May (up 46% on a sequential month-over-month basis), and continued strong signals so far during the first half of June, with gross profits growing 9.9% on a week-over-week basis.

“As we gear up to open our first new hub in the Los Angeles regional market, we continue to see very good signs from our Sacramento hub, with the very rapid topline growth clearly translating to the bottom line as margins hold up and even improve,” commented Jimmy Chan, CEO of Sugarmade. “As we recently reiterated, BudCars is not a delivery business comparable to GrubHub or Uber Eats. It is a top cannabis retail business with very consistent 46-52% gross margins on a wholesale inventory with very secure logistical underpinnings. This differentiation has been a source of misunderstanding, and it is critical to fully appreciating our value proposition and our strategy as a Company moving forward.”

Just to make sure people have gotten the point here (ie, this is for real), the company just put out its June performance update featuring some really remarkable growth trends: BudCars is ramping in average daily sales (+41% m/m), total orders (+34%), average order size (+2%), sales (+36%), and gross profits (+31%). Those are all month/month data points. Annualized, we would be talking about thousands of percentage points in growth across every major category.

As Chan put it: “June was another breakout month for BudCars growth across basically every single metric important to gauging our progress. Our pricing improved. Our average order improved. We did more business with more people and booked a significant jump in gross profits while holding our 47% gross margin level as volume increased.”

Drop the mic.

Geographic Growth

The next point is the idea gradually being baked into the cake that Sugarmade – given all of its success with BudCars, which is basically just operating in the Sacramento regional market – is about to “level up” and launch BudCars LA.

In a recent release, Sugarmade Inc (OTCMKTS:SGMD) put out a couple guidance points on this launch. First, management believes that the establishment of an LA regional BudCars presence will mean at least $20 million in new annualized sales in the mix. Second, the company also said it feels the evolution of data analytics for BudCars Sacramento represents a valid model for operational forecast analysis anticipating BudCars LA.

In other words, expect the strong margins and rapid growth in orders, customers, sales, ticket sizes, and profits. But, potentially on a bigger scale because the LA is probably the biggest municipal cannabis market on planet Earth.

Anyone who spends any time researching the global legal cannabis market knows that LA is ground zero. This is the promised land for pot producers.

“As we gear up to open our first new hub in the Los Angeles regional market, we continue to see very good signs from our Sacramento hub, with the very rapid topline growth clearly translating to the bottom line as margins hold up and even improve,” commented Chan. “As we recently reiterated, BudCars is not a delivery business comparable to GrubHub or Uber Eats. It is a top cannabis retail business with very consistent 46-52% gross margins on a wholesale inventory with very secure logistical underpinnings. This differentiation has been a source of misunderstanding, and it is critical to fully appreciating our value proposition and our strategy as a Company moving forward.”

Margin Growth

Finally, the other big theme driving the action right now is the margins. We believe – and based on communications, so does the company – that there was a misunderstanding about BudCars before a few weeks ago: that it was a delivery business (ie, GrubHub, Uber Eats, etc… but for cannabis).

That isn’t at all the case. And the company has recently taken great strides to clear up any confusion. BudCars is a retail dispensary business that has delivery as a core value proposition.

In other words, the company doesn’t monetize through delivery fees. It builds a wholesales cannabis inventory and sells it at retail prices. But the transaction happens at your door rather than in a dispensary somewhere else.

So, it’s more like Domino’s Pizza than GrubHub… but for weed.

The difference is night and day. And its margins show that, with 47% gross recorded for May and June, according to company materials.

However, the other big theme in play for SGMD now is “verticalization”, which, in this case, means that the company is starting to set up the ability to cultivate and manufacture its own cannabis products rather than buy its wholesale inventory entirely from other suppliers.

Some quick back-of-the-napkin analysis will reveal that this could significantly widen margins accelerating gross profit growth.

To that end, the company has already secured a property containing a 5,000 square-foot indoor premium cannabis cultivation facility located in very close proximity to its Sacramento BudCars hub. Management for SGMD went on to note that this facility would be outfitted with as many as 250 high-quality LED lights, suggesting production potential for as much as 250 lbs of premium dried cannabis flower per month.

If you do the math, that could produce a stream of cannabis supply worth as much as $1.6 million in additional sales per month for Sugarmade shareholders to celebrate. And, as noted above, even more of that cash coming in the door would flow to the bottom line given that it would represent an in-house supply coming into the BudCars system at a much better cost basis than by paying someone else for their weed and their mark-up for doing business.

This article is part of JournalTranscript.com Networks. Read the JournalTranscript.com Networks Disclaimer.

Published at Thu, 02 Jul 2020 06:05:15 +0000

MediPharm Labs Sets Date to Release Second Quarter 2020 Financial Results

MediPharm Labs Sets Date to Release Second Quarter 2020 Financial Results

MediPharm Labs Corp., (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce it will release its second quarter financial results for the three and six month period ended June 30, 2020 before markets open on Thursday, August 13, 2020.

MediPharm Labs executive management team will also host a conference call and audio webcast on Thursday, August 13, 2020, at 8:30 a.m. eastern time to discuss its financial results and outlook.

Conference Call Information:
Toll-free number: 833-502-0471 / International number: 236-714-2179 / Conference ID: 7466989
Due to higher than normal volumes, participants are asked to dial in approximately 15 minutes before the start of the call.

Audio Webcast:
An audio webcast will be available in the Events section of the MediPharm Labs’ Investor Relations website https://ir.medipharmlabs.com/news-events or by visiting the following link: https://event.on24.com/wcc/r/2396284/F4C00F984F456423A382BAA28AAD1997

For those who are unable to participate on the live conference call and webcast, a replay will be available approximately one hour after completion of the call.

Replay Information:
Replay number: 800-585-8367 / International replay number: 416-621-4642/ Conference ID: 7466989

About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facilities with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian extraction facility. MediPharm Labs Australia was established in 2017.

For further information, please contact:
Laura Lepore, VP, Investor Relations and Communications
Telephone: 416-913-7425 ext. 1525
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

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Published at Thu, 02 Jul 2020 11:36:35 +0000

Los Angeles Amends Rules for Cannabis Licensing Amid Backlash Surrounding City’s Social Equity Program

Los Angeles Amends Rules for Cannabis Licensing Amid Backlash Surrounding City’s Social Equity Program

FORT LAUDERDALE, Florida (July 1, 2020) -PRESS RELEASE- Kaycha Labs, a national cannabis and hemp testing technology company, is excited to announce that both their Davie and Gainesville, Flordia labs have been awarded the Florida Department of Health’s Certified Marijuana Testing Laboratory (CTML) status.

This is the first time the Florida Department of Health has awarded CMTL certifications and by doing so, it now means that state-mandated testing requirements will go into effect. These requirements specify that all retail products containing marijuana can be randomly sampled and tested.

“It’s a testament to our team that has worked so hard to get to where we are,” John Schwartz, chief operating officer of Kaycha Labs, said. “We are excited to receive this distinction in our home state. Our investment in people and technology has and will continue to serve the people of Florida.”  

Both the Davie and Gainesville labs are ISO 17025 accredited and perform marijuana and hemp product testing for clients to help ensure that Medical Marijuana Treatment Centers remain compliant with all state and federal regulations. Kaycha Labs provides fast and accurate full panel testing for potency, homogeneity, heavy metals, microbial contamination, mycotoxins, residual solvents, terpenes, pesticides, and more.

 Kaycha has the ability to implement over 500 procedures and methods to test cannabis and hemp products. These procedures and methods comply with standards set by the United States Food and Drug Administration (FDA), International Standards Organization (ISO), United States Department of Agriculture’s (USDA) Food Safety and Inspection Services, and Association of Analytical Communities (AOAC).

Published at Thu, 02 Jul 2020 15:19:00 +0000

Field Trip Psychedelics Inc. Launches Field Trip Basecamp for combat veterans, first responders and healthcare workers

Field Trip Psychedelics Inc. Launches Field Trip Basecamp for combat veterans, first responders and healthcare workers

New program offers psychedelic-assisted psychotherapy that enables ‘frontliners’ and others in high-pressure occupations to “return, reset and relaunch” 

TORONTO, July 2, 2020 /CNW/ — Field Trip Psychedelics Inc. (“Field Trip” or the “Company”), the company redefining mental health and well-being through its ground-breaking work in psychedelics and psychedelic-enhanced psychotherapy, today announced the launch of Field Trip Basecamp, a program focused on serving individuals suffering from debilitating mental health issues as a result of high-pressure occupations. The immediate focus of the new program will be on “frontliners,” including combat veterans, first responders, emergency room doctors and other professionals regularly exposed to traumatic experiences while on the job. 

Veterans and first-responders experience disproportionately high levels of trauma and stressor-related mental health conditions like post-traumatic stress disorder (PTSD), depression, anxiety and substance abuse and dependency. Field Trip’s Basecamp therapy program offers a personalized, behavior-focused approach with the goal of “return, reset and relaunch,” allowing frontliners to reconnect with their families, rediscover their sense of purpose and reengage with life on their terms. Utilizing the dissociative psychedelic ketamine, participants will receive a unique form of enhanced psychotherapy that helps break old and harmful thought patterns, and maximizes the window of neuroplasticity created through the ketamine treatments. 

“Trauma has a way of robbing life of meaning. Home doesn’t feel like home and work doesn’t seem important. Veterans have long dealt with the lasting effects of PTSD and, throughout the COVID-19 crisis, more and more of our frontline healthcare workers are suffering similar effects,” said Ronan Levy, Executive Chairman of Field Trip Psychedelics. “The long-lasting trauma frontliners face is often treated with pharmaceuticals that fail to address the underlying cause of mental illness. We believe psychedelics and psychedelic-assisted psychotherapy can be the solution to reconnect frontliners with themselves and provide a new lease on life.” 

At launch, Field Trip Basecamp will be available at the Company’s clinic located in Toronto and will be available in clinics opening in New York and Los Angeles later this summer. Field Trip is also partnering with veteran service organizations, first-responder associations and charities to reach potential participants and assist with treatment and travel costs. 

“As a former Navy SEAL, I have watched teammates suffer from PTSD, depression, and multiple traumatic brain injuries. I have seen how existing pharmaceuticals like SSRI’s can affect the minds of high-performance individuals,” said Adam Wright, Director of Field Trip Basecamp. “Unfortunately, these medications can take at least six weeks to kick in, have terrible side effects and the treatment response is often highly variable. With Field Trip Basecamp, our treatment protocol is far more integrated, leveraging the psychedelic and neuroplasticity-enhancing effects of ketamine to support the custom-developed psychotherapy protocols that our team of psychiatrists, physicians, psychologists and psychotherapists have developed specifically for people in high-intensity professions.”

People interested in learning more, or those interested in being screened to participate in the Basecamp program, can find information at http://fieldtripbasecamp.com. 

About Field Trip Psychedelics Inc. 
Field Trip is the world’s first mental wellness company at the forefront of the scientific re-emergence of psychedelics and psychedelic-enhanced therapies. With Field Trip Health centres opening across North America, and drug development and advanced research on plant-based psychedelics through Field Trip Discovery, we help people to heal and heighten engagement with the world. 

Learn more at https://fieldtriphealth.com and https://fieldtripdiscovery.com

SOURCE Field Trip Psychedelics Inc.

For further information: Nick Opich / McKenna Miller, KCSA Strategic Communications, 212-896-1206 / 347-487-6197, nopich@kcsa.com / mmiller@kcsa.com
 

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Published at Thu, 02 Jul 2020 15:02:34 +0000

Virginia Will Decriminalize Cannabis on July 1

Virginia Will Decriminalize Cannabis on July 1

NEW YORK, June 30, 2020 /PRNewswire/ -PRESS RELEASE- AWH (formerly Ascend Wellness Holdings), a multi-state, vertically integrated cannabis operator, today announced its partnership with Last Prisoner Project. LPP is a nonprofit organization dedicated to clemency and expungement, re-entry programs and advocacy for individuals with cannabis convictions. The partnership will launch on July 1 with a commitment to raise $250,000 through a customer donation program at all AWH retail locations, which includes a company match of $125,000.

As a leading private multi-state operator, AWH recognizes its urgent responsibility in dismantling an unjust justice system that disproportionately incarcerates Black and brown individuals for cannabis-related offences while legal companies are openly profiting off of the sales of the same plant.  

Starting on July 1, the company will launch a three-tiered approach to support and build awareness along with the corporate match to LPP.  AWH retail locations will also ask customers to donate $1 to LPP at checkout. To further incentivize participation, the company will offer customers who donate to the program entry into a monthly raffle for a $250 gift certificate prize. AWH will be matching every dollar donated for a total of $250,000. To build awareness for LPP, retail locations will provide each customer with a postcard that features a story of a person who has been impacted by the criminalization of cannabis.

“As part of our company ethos, we’ve built external local partnerships to recruit and hire employees who come through re-entry programs and we offer record-sealing clinics, but we needed to do something bigger and more impactful, said Andrea Cabral,” CEO of Ascend Mass. “The harm caused by the over-policing and over-prosecution of Black and brown people, especially for cannabis, is ongoing and for many as relentless as it’s ever been. LPP’s precise mission and method is what drew us: Change laws, change policies, build job skills and support networks and above all “don’t stop until the last cannabis prisoner is released.”

AWH will incorporate Last Prisoner Project donations in all future dispensary launches to bring awareness to the organization and challenge state governments to reform local cannabis incarceration policies. In addition to donation matching, the program will also launch an e-commerce and text message campaign to benefit LPP. In the coming months, the company plans to launch a campaign in Illinois that will name a flower strain after a local LPP client, highlight the individual’s life story and donate a portion of product sales back to the individual.

“Our industry will only become more powerful when we work together to lift up those who have been harmed by these discriminatory policies,” said Mary Bailey, managing director of LPP. “I am encouraged to see large operators like AWH stepping up and recognizing the need for more social advocacy in the cannabis industry.”

“Legal companies can no longer stand idly by and profit off of cannabis while individuals like Michael Thompson are serving a 60 year sentence in Michigan for selling the same thing,” said Abner Kurtin, founder of AWH. “This is the largest financial commitment made to LPP by an MSO and we are proud to lead the way towards corporate responsibility and providing greater financial commitments to LPP from the industry. We will work with LPP to encourage other companies to join us at the champion sponsor level.”

Published at Tue, 30 Jun 2020 20:30:00 +0000

California Offers License Fee Deferrals to Additional Licensees

California Offers License Fee Deferrals to Additional Licensees

SACRAMENTO, Calif., June 29, 2020 -PRESS RELEASE- The three state cannabis licensing authorities of California announced today that businesses with state commercial cannabis licenses expiring between July 1, 2020 and August 31, 2020 may request 60-day deferrals of their license fee payments. This allows for fee deferral financial assistance to be provided to additional licensees.

The license fee deferrals are intended to provide immediate financial assistance to state cannabis licensees impacted by COVID-19. Though deemed an “essential business” under Executive Order N-33-20, the cannabis industry is excluded from federal or banking-dependent assistance for small businesses, due to cannabis’s status as a Schedule I controlled substance federally.

RELATED: California Regulators Offer 60-Day License Fee Deferrals to Cannabis Businesses During COVID-19 Pandemic

“We hope that today’s announcement will provide assistance to the industry as we continue to work together to address the challenges created by the pandemic,” said Lori Ajax, chief of the Bureau of Cannabis Control.

The Bureau of Cannabis Control (BCC), California Department of Food & Agriculture (CDFA) and California Department of Public Health (CDPH) are currently accepting requests for fee deferrals. Refunds will not be given for fees that have already been paid. Additional fee deferrals are not available for licenses that expired before July 1, 2020. License fee payment due dates for fee deferrals already granted are not extended.

A licensee who is unable to comply with a licensing requirement due to the pandemic may submit a disaster relief request to their respective licensing authority. To provide immediate assistance to licensees, licensing authorities have been providing relief from certain regulatory provisions unrelated to fees since the time of the first stay-at-home orders.

Published at Mon, 29 Jun 2020 20:22:00 +0000