Delta, Kelowna, BC – July 1, 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 #582, Cannabis News and Stocks on the Move; Happy Canada Day! (TSX: VFF) (NASDAQ: VFF), (OTCQX: MRCQF), (NASDAQ: CGC) (TSX: WEED)
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com “Potcast” featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast we look at a few public and private company announcements.
Village Farms International, Inc. (TSX: VFF) (NASDAQ: VFF) today announced that its wholly owned subsidiary, Pure Sunfarms, Canada’s premiere cannabis cultivator and brand, has received from Health Canada an amendment to the cultivation license for its 1.1 million square foot Delta 2 greenhouse facility, permitting Pure Sunfarms to cultivate cannabis immediately in the half of the Delta 2 facility for which conversion to cannabis production has been completed. Under the License Amendment, Pure Sunfarms is also permitted to begin cannabis production in the remaining half of the Delta 2 facility when conversion of that half of the facility for cannabis production has been completed.
The amendment to the Delta 2 cultivation license immediately increases Pure Sunfarms’ total cultivation capacity to 1.65 million square feet, all of which is at a single location in Delta, British Columbia. Pure Sunfarms expects to begin planting in the completed half of the Delta 2 facility in September of this year, with the first harvest expected in November of this year. Pure Sunfarms expects to further increase its cultivation capacity to 2.2 million square feet during the second half of 2022 upon completion of the conversion of the remaining half of the Delta 2 facility for cannabis production.
“As many licensed producers in Canada scale back operations, we are proud and excited to be significantly expanding production to meet the expected continued growth in Pure Sunfarms’ retail branded sales, driven by Pure Sunfarms’ leading brand market share in dried flower against the backdrop of the overall growth in the Canadian market, as well as additional opportunities that we are pursuing both within Canada and in international markets,” said Michael DeGiglio, CEO, Village Farms. “Pure Sunfarms has delivered three consecutive quarters of 20 percent or greater growth in retail branded sales, and during the first two months of the second quarter of 2021 was once again the top-selling brand of dried cannabis in Canada’s largest provincial market, as it has been in every quarter since it launched its retail branded products in the fourth quarter of 2021.”
Mr. DeGiglio added, “With this expansion, we expect to benefit from additional economies of scale and other efficiencies that will further support our unique ability to not only offer premium quality cannabis products at an everyday price but to do so while consistently generating profitability. As it has done with the existing Delta 3 facility, which is currently operating at full production, Pure Sunfarms will prudently deploy Delta 2’s production capacity to meet sales demand while continuing to effectively manage inventory levels.”
GH Group, Inc., one of the fastest-growing, vertically integrated cannabis and hemp companies in the U.S., announced the completion of its business combination with Mercer Park Brand Acquisition Corp. (NEO: BRND.A.U) (OTCQX: MRCQF), a special purpose acquisition company (SPAC), to create Glass House Brands Inc., with the intent to focus on branded product businesses in cannabis and/or cannabis-adjacent industries. The subordinate, restricted and limited voting shares and warrants of Glass House are approved for listing on the NEO Exchange under the symbols “GLAS.A.U” and “GLAS.WT.U”, respectively. Trading will commence on July 5, 2021.
“With one of the strongest retail and wholesale networks in our industry combined with best-in-class cultivation processes and our scaled and highly efficient cost structure, we are exceptionally well-positioned to capitalize on the growing statewide and national consumer packaged goods (“CPG”) opportunity,” said Kyle Kazan, Glass House Chairman and CEO. “We look forward to leveraging our leadership position in California to introduce high-quality, sustainably grown, craft cannabis to the market to support the health and enjoyment of our consumers, as well as our environment and our community.”
Graham Farrar, President of Glass House added, “This is a significant milestone for our business, and I would like to thank all of our employees, the entire Mercer Park team, our shareholders, and our advisors for their efforts in making this transaction a success. We have brought together some of the strongest operators and assets in our industry to lead the world’s largest cannabis market by consolidating additional brands and bringing them to scale to deliver strong value for our shareholders.”
David Culver, Vice President of Global Government Relations at Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), issued the following statement regarding Mexico’s Supreme Court striking down laws which criminalized the recreational use of cannabis:
“Canopy Growth applauds Mexico’s Supreme Court for striking down the prohibition on recreational adult-use cannabis. This landmark decision paves the way for Mexico to end injustices caused by the criminalization of cannabis. Canopy also joins the court in urging Mexico’s lawmakers to finalize and pass legislation that provides legal certainty and establishes a responsible, constructive cannabis marketplace.
In an 8-3 ruling Monday, Mexico’s Supreme Court declared unconstitutional the prohibition of recreational marijuana use in Mexico, clearing a path to legalization.
Mexico’s lower house passed a legalization bill in March, but it is still awaiting legislative approval in a gridlocked Senate. The decisive court ruling, clearing legal obstacles, could push lawmakers to finalize the legislation.
“Today is a historic day for liberties,” court president Arturo Zaldivar said in a video after the ruling. “The right to free development of the personality is consolidated in the case of … recreational use of marijuana.”
Cartel Blue, Inc. and Cartel, Inc., a Delaware Corporation founded in 1998, announced it will increase its business operations in Mexico for expansion of its product lines.
Cartel Inc. announced expanded product strategies after the Supreme Court of Mexico ruled for decriminalization and legalization of recreational Cannabis and Hemp in Mexico on June 30, 2021. Addressing its expansion strategy, the company previously obtained Trademarks in Mexico which were approved. All the company’s products and processes, including Cartel Accessories, hemp cultivation and approval of its line of hemp-hip-hop-clothing sold under the brand “Cartel Blue”, are a part of this implementation. Cartel Inc. and Cartel Blue, Inc. have secured purchase orders for pre-rolled “Premium Mini Hemp Cigars” for August 1, 2021, delivery under all Mexico Licensing guidelines.
Cartel Blue, Inc. is the first and only hemp Apparel company listed on the Major Marijuana | Hemp Stock Index.
As the move into Mexico and a planned move into other countries are anticipated, it was determined by Cartel Inc. management to earlier make a name change which aligns with a global branding strategy for its products.
This announcement coincides with an Agreement between Cartel Inc., and Maui Third Wave, Inc of Kihei, Maui, Hawaii to purchase HINA Organic Hemp grown in the rich volcanic soil of the island. This agreement marks a significant date in the history of Cartel Inc., as it will be producing quality Mini Hemp cigars packaged for immediate sales in Hawaii, the Mainland, and through the newly announced chain of Cartel Cigar Lounges in selected hotels and specified venues. Nashville, Tennessee will be home to the very first Cartel Cigar Lounge, which will be owned and operated in a Licensing Agreement between Cartel Inc., and Music City Botanicals, of Nashville. Further information is available through Investor Relations at Cartel Inc.
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