After securing a key relationship with a top tobacco maker, CEO Greg Engel says Organigram Holdings (NASDAQ:OGI,TSX:OGI) is ready to pursue the US cannabis market.
Last Thursday (March 11), the Canadian cannabis producer made headlines by confirming a C$221 million strategic investment from British American Tobacco (BAT) (NYSE:BTI,LSE:BATS).
The two will also collaborate on product formulations while sharing data and methods. As part of their new collaboration, a research and development hub will be set up to focus on formulation fine tuning.
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The money comes with few restrictions, except for a dedicated amount of around C$30 million to be used for what’s known as the “Center of Excellence,” the place the two companies will work on developing novel products. Engel said the rest of the sum can be used for working capital, and will put Organigram in a good position to leverage a strategy within Canada and internationally, primarily the US.
The Investing News Network (INN) caught up with Engel following the vital deal announcement to learn more about the immediate impact for Organigram and how Engel envisions this business relationship with BAT shaping up. Read on to learn what he said.
The following interview has been edited for clarity and brevity.
INN: Greg, this collaboration represents a landmark agreement for Organigram, and it goes to show the evolution of the cannabis industry at large within these past few years. Could you tell me about the origins of the conversations between Organigram and BAT, as well as how critical is it for Organigram to have secured this deal right now?
Greg Engel: It’s certainly been a significant number of months and has been an ongoing process. It was made a little bit more challenging certainly by COVID-19 and a lack of ability to actually meet face to face in person or do site tours at our facility. We did still end up doing them virtually.
I think it’s important to put (this in) perspective for us. I’ve been CEO of the company for four years, and over that time we’ve been actively looking for a strategic relationship that could bring a lot to the company. In the past, we’ve had discussions with a number of different companies in different verticals: consumer packaged goods (CPG) and alcohol.
What really excited us about BAT as a strategic investor, and how we’re approaching this, is that the two companies are very aligned in terms of innovation and product development. Both parties are bringing intellectual property to the product collaboration. The goal is to continue to create innovative new products that are going to change the whole experience for the cannabis consumer. And whether it’s CBD or THC in the future, that’s been the focus.
At the end of the day, that relationship brings three key things:
- One is a significant capital injection from a strategic investor, which will allow us in the future, as we develop new products, to look to not only bring those products to market in Canada, but to look at other markets, like the US and internationally.
- Secondly, this Center of Excellence that we’re working on together is going to be a combination of existing research and development staff at Organigram and BAT, as well as hiring new people. That focus is really on oral and vapor cannabis delivery.
- The third thing is we do gain the value of the strategic investor from the perspective of they have two board nominees, and one has already been filled by Jeyan Heper, who has extensive commercial experience for over 20 years.
We’re really excited about moving forward on this collaboration.
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INN: I was struck by your comment about how selective Organigram has been when it comes to finding the right company to align with and obtain an investment like this one. Was there a specific factor that helped solidify this transaction?
Also, besides the COVID-19 complications, I’m wondering if there’s been any sort of hesitancy to sign onto a deal like this one based on the way some other deals have gone down between big-name CPG corporations and Canadian cannabis players?
GE: For us the whole focus is to say this isn’t just a strategic investment, this is about creating, innovating and developing new products or the next version of products. Both companies have contributed intellectual property to this collaboration. That’s a big part of why this was the right agreement for us and I think that played a key role.
When you look at how the Center of Excellence is going to operate, it really is going to be developing these products and undergoing rigorous testing. There’s kind of an ethos there or a culture within both companies that is very focused on quality, innovation, new products and consumer health and safety at the end of the day.
INN: Before I ask you more specifically about the US market strategy, I’m very curious about the recent shift in the way Canadian cannabis companies talk about the US. The industry has latched onto trends and topics such as the path to Canadian legalization, Cannabis 2.0 products, international ventures and now it seems the US is becoming that hot talking point.
How much of your day-to-day time is spent evaluating the US and its long-term impact for the cannabis industry? How much of that is dominating the headspace for the Canadian cannabis space in general?
GE: For the last couple years we have spent a significant amount of time looking at the US. We have an agreement with the Green Solution, which is part of Columbia Care (CSE:CCHW,NEO:CCHW,OTCQX:CCHWF). That was an intellectual property agreement in the early days for Organigram. For Organigram, we were looking to learn from them and get market insights, both on the recreational market and to prepare for Cannabis 2.0 products. Through them we’ve actually learned a lot about the US market.
It’s hard to say how much time, but it’s certainly top of mind. There’s some hurdles though, right? I mean, we’re not in a position today, because of the legal and regulatory restrictions on the THC side, to look to imminently enter that business.
On the CBD side we could, and I think part of our rationale for finding this strategic investor and working on this collaboration is that it will allow us to develop products we feel will be more advanced and undergo more rigorous testing than a lot of the products that are out in the market.
Editor’s note: Organigram’s deal with the Green Solution was announced in September 2016. Columbia Care closed its acquisition of the Green Solution in 2020.
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INN: Let’s dive deeper into the US cannabis market. There’s been a transition in the way this segment is understood in relation to Canadian companies and the way the US-based operators are valued through the open market.
When you look at the US, you already highlighted some of the ways this deal benefits your company in relation to that territory, but I’m wondering if you could expand on the general vision you have for this market and its relationship to Organigram? What are your priorities in the US, and what do you think of the general approach of Canadian cannabis operators pursuing entryways into the US?
GE: If you look at how that market is going to evolve, it more than likely could evolve in stages. You’re going to see potentially the MORE Act and the SAFE Banking Act both pass; you (could) see the shift in banking regulations, and then that would move to allow NASDAQ, NYSE, TSX, TSXV companies to invest in US companies. And I think that’s going to happen over time. Early indications, certainly for the current administration, is that it may move in steps.
When we look at the market, I think today what you have is a very fragmented US market where you have multi-state operators, but they’re siloed within each state. They may be vertically integrated, but in the future is that the model that’s going to work and is going to be required? If you have federal legalization and there’s an ability to move products across state borders, being vertically integrated with any one state is not going to be advantageous.
As we look to enter the US with this agreement, both companies are in a position to commercialize any and all the products we developed through this collaboration. This is a perpetual royalty-free basis for us.
We can enter directly, we can find a contract manufacturer to produce for us in the US. There are some potential licensing opportunities as well — those do have some restrictions on them, but certainly there’s a lot of different ways that we could enter the marketplace in the US.
We could look at, and we certainly have spent a lot of time looking at, CBD companies today, and (it is about) determining whether or not that would be the best approach. Do we potentially acquire or invest in a CBD company today as a way to get in the market? That still hasn’t been determined if that’s the direction we would go or not.
INN: As a last thing, would you be able to expand on the initial response you have seen so far to this announcement in regards to your investors and the market at large?
GE: We had an investor call (on March 11) and we had a number of analysts come out with support. We’ve had some upgrades on the company as a result of this deal. The initial response has been very positive in terms of, from a capitalization perspective it certainly elevates us and gives more certainty around our position.
There’s a lot of interest and excitement about where this can go in the future. We’re focusing on fundamentals and building for the long term here, and I think that’s what has spurred people’s interest.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or ” Ayurcann “), a Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, is pleased to unveil further details of its Phase 2 expansion plans.
Ayurcann has commenced trading on the Canadian Securities Exchange (” CSE “) on April 8, 2021 and subsequently announced a private placement of up to $500,000 (” Financing “), as per the Company’s press release dated April 12, 2021. The proceeds of the Financing are intended to be used to further pursue Phase 2 of the expansion of the production capacity of the Company’s Pickering facility.
Following the closing of the Financing, the Company expects to continue the Phase 2 expansion, which is intended to increase the extraction capacity of the facility by 50% from 200,000 kgs to 300,000 kgs of biomass on an annualized basis. Ayurcann has continued to consistently secure over 1,000 kgs of hemp biomass and 1,000 kgs of cannabis biomass on a bi-weekly basis through multiple suppliers at attractive prices, and the Company estimates the increased production and current inventory translates to potential revenue of approximately $1 million per month.
This supply schedule currently enables the Company to produce over 300 kgs of high-quality distillate on a monthly basis, which may be used for bulk wholesale sales, or to produce higher margin value-added cannabis 2.0 concentrate products such as vaporizing pens, topicals, and edibles for our B2B clients.
Igal Sudman, CEO of Ayurcann, commented, “We wish to thank our shareholders for their support as we’ve made our successful debut on the CSE. We believe this is an opportune time to showcase the progress that we’ve made over the last several years and to highlight the steps we’re taking to aggressively accelerate sales.” Mr. Sudman continued: “We believe that our current facility offers one of the larger extraction capacities among the Canadian LPs and completion of our Phase 2 expansion plans will allow us to service more customers, which, we believe, will help increase revenues.”
For further information, please contact:
Igal Sudman, Chairman and CEO
Ayurcann Holdings Corp.
Tel: 416-720-6264
Email: igal@xtrx.ca
Investor Relations:
Ryan Bilodeau
Tel: 416-910-1440
Email: ir@ayurcann.com
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is striving to become a partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements, including but not limited to statements relating to the Company’s expansion plans and future production capacity. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, failure to obtain regulatory approval, ability to increase production at the Company’s facilities, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, Further, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Public health crises, including the ongoing novel coronavirus (COVID-19) pandemic, could have significant economic and geopolitical impacts that may adversely affect the Company’s business, financial condition and/or results of operations. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
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New findings suggest the COVID-19 pandemic, combined with expanded state legalization, has attracted new consumers to the category and accelerated cannabis acceptance and adoption.
- YouGov study indicates the number of current cannabis consumers has increased 56% within just two years compared to the 16% of Americans who reported current consumption in 2018.
- 23% of current consumers say they tried cannabis for the first time within the past year.
- More than half of cannabis consumers say they will purchase or try a new product or format this 420, indicating that the holiday is becoming increasingly focused on exploration and trial.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, released the results of a survey today showing one in four Americans currently consume cannabis, reporting they’ve tried some form of cannabis within the past twelve months. That’s a significant increase since 2018* when just 16% of U.S. adults reported current consumption, representing a 56% increase in just two years. What’s more, 23% of current cannabis consumers say they tried cannabis for the first time over the past year, suggesting the COVID-19 pandemic, combined with expanded state legalization, has rapidly accelerated cannabis acceptance and adoption in America.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210420005460/en/
Sunnyside conducted a nationwide survey in partnership with YouGov that found 25% of Americans now consume cannabis; consumption up 56% since 2018. (Photo: Business Wire)
These findings are part of a national study conducted by global public opinion and data company YouGov in partnership with Sunnyside , the national retail dispensary brand of Cresco Labs . The study, conducted in March 2021, examined cannabis consumption, attitudes and purchase behaviors of nearly 5,000 Americans representative of the U.S. population.
Key findings from the study indicate that cannabis is attracting new consumers from a variety of demographics:
- 44% of cannabis-consuming parents with children under 18 tried it for the first time in the past year.
- 43% of Seniors (65+) who consume cannabis tried it for the first time in the past year.
- Men and women are consuming cannabis equally as often during the year, month, week or day.
- 62% of women believe that the 420 holiday is no longer only for “stoners” or heavy cannabis consumers.
- 62% of parents who consume cannabis believe celebrating 420 has become more acceptable.
“ We were curious to learn how current conditions have impacted consumer attitudes and cannabis consumption behaviors ahead of what we expect to be an unprecedented 420 celebration,” said Cris Rivera, SVP of Customer Experience at Cresco Labs. “Whether it’s the stressors of a global pandemic, quality of life enhancement, or increased accessibility due to expanded state legalization, the industry is ready to meet these new consumers to introduce them to its precisely dosed lab-tested products, safe and professional packaging, and welcoming retail locations.”
New Mexico became the 18 th state to enact legislation to regulate cannabis for adult use, on the heels of adult-use legalization announcements from New York, New Jersey and Virginia. A total of 37 states and the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands have approved comprehensive, publicly available medical cannabis programs.
According to YouGov, people’s cannabis preferences vary by region:
- The Northeast is the most likely (64%) to consume cannabis for anxiety/stress relief.
- People in the South and West Coast consume cannabis for social occasions more than the rest of the country.
- The South is more likely (32%) to consume cannabis for intimacy than the rest of the country.
- The Midwest (61%) is consuming edibles and beverages more than the rest of America.
- 74% of Midwestern consumers, and 64% of all cannabis consumers, believe if more people embraced cannabis, the world would be a better place.
As cannabis legalization continues to sweep the U.S, beliefs and behaviors surrounding 420, once considered a “stoner holiday,” are shifting to become much more mainstream and inclusive.
How will America celebrate 420 this year?
- 57% of cannabis consumers view 420 as a national day of rest, relaxation and wellness.
- 50% of people 21-54 will try or will consider trying a new product on 420 this year.
- 60% of young cannabis consumers (21-34) plan to try out a new form of cannabis on 420.
- 57% of cannabis consuming parents with children under 18 plan to try a new form of cannabis on 420.
- 46% of men plan to try a new product on 420, while 25% of men plan to shop deals.
- 20% of women are planning a day of wellness.
- 53% of cannabis consumers plan to celebrate 420 with others this year, either in person or virtually.
“As one of America’s leading retailers of medical and adult-use cannabis products, we are on a mission to normalize and professionalize the shopping experience so consumers feel comfortable and confident adding cannabis to their everyday wellness,” said Rivera. “We believe 420 should be a mainstream and inclusive holiday, and this data set shows that people all over America are planning to embrace it in new ways this year.”
With 32 dispensaries across seven states including Illinois, Arizona, and Massachusetts, Sunnyside offers one of the largest selections of cannabis on the market—including premium flower, vapes, edibles, concentrates, and medicinal products from the most trusted brands in the cannabis industry. The company is offering discounts, special promotions, and door prizes as its locations across the U.S. Please visit Sunnyside.shop for more details.
* As reported by the National Survey on Drug Use and Health, 2018 .
About Cresco Labs
Cresco Labs is one of the largest vertically integrated, multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness Co., FloraCal and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco’s national dispensary brand, is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco provides the industry’s first national comprehensive Social Equity and Educational Development (SEED) program designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com .
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020 expected to be filed on March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs’ shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210420005460/en/
Media:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com
Investors:
Jake Graves, Cresco Labs
Manager, Investor Relations
investors@crescolabs.com
For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com
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Acquires Three Operating Dispensaries in Northeast Pennsylvania
Purchase price represents a mid-single digit multiple of KCR’s expected 2021 EBITDA
TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE:TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced it has entered into a definitive agreement to acquire GuadCo, LLC and KCR Holdings LLC (collectively “KCR”) for an implied enterprise value of US$70 million (the “transaction”). Upon close, the transaction will add three retail dispensaries located in Bethlehem Allentown and Stroudsburg to complement the Company’s existing retail footprint in Southeastern Pennsylvania .
As an operator of three well managed dispensaries in the Northeast region of Pennsylvania , KCR expands TerrAscend’s retail footprint, diversifies the Company’s customer base and enhances margins through deeper vertical integration. The transaction will be immediately accretive upon closing, which is expected to occur in the second quarter, subject to customary regulatory approvals.
“The Pennsylvania medical cannabis market is a key focus for the Company,” said Jason Wild , Executive Chairman of TerrAscend. “This transaction doubles our owned footprint to six dispensaries in the state and provides patients in Pennsylvania’s Northeast region access to TerrAscend’s outstanding products, service, and support. This expanded retail footprint further solidifies our position as the leading branded cultivator and manufacturer in Pennsylvania .”
Transaction Details
TerrAscend currently owns 10% of KCR and will acquire the remaining 90% of the equity for total consideration of $63 million , comprised of $36 million in stock, $20.25 million in cash and a $6.75 million note. The purchase price is expected to represent a mid-single digit multiple of KCR’s 2021 EBITDA.
The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
About TerrAscend
TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania , New Jersey , and California in addition to operating as a licensed producer in Canada . TerrAscend operates an award-winning chain of Apothecarium dispensary retail locations as well as scaled cultivation, processing and manufacturing facilities on both the East and West coasts. TerrAscend’s best-in-class cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use market. The Company owns several synergistic businesses and brands, including The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information, visit www.terrascend.com .
Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and include statements with respect to future revenue and profits. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States ; and the risk factors set out in the Company’s most recently filed MD&A, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com .
The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States . Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States . Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.
SOURCE TerrAscend
View original content: http://www.newswire.ca/en/releases/archive/April2021/20/c8191.html
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TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) subsidiary Lyfted Farms has much to commemorate this 420 (April 20th) known as the international day of celebration and celebratory consumption of cannabis.
The Company fulfilled an impressive $100k initial order of 25 pounds of premium indoor exotic cannabis flower and concentrates that hit the shelves of 14 famed STIIIZY retail locations throughout California last week, just ahead of the biggest day in cannabis counterculture.
STIIIZY retail stores are renown in the industry for their experiential, state-of-the-art immersive experiences such as art gallery quality exhibits, LED light tunnels featuring immersive projected imagery and scenes, and observation windows into real-time grow house cultivation giving participants the complete seed-to-sale experience.
“Penetrating the STIIIZY ecosystem is a huge win for Lyfted Farms – enabling us to better reach and expand our consumer base in a pivotal new way,” said Shaun Serpa, Director of Marketing for Lyfted Farms. “This next level of customer reach and more mainstream exposure is a great “coming of age” milestone for us.”
Lyfted Farms product is now available in STIIIZY stores in San Francisco, Modesto, Los Angeles, Rancho Mirage, Davis, and Alameda.
Strains and products delivered to STIIIZY include: Vice Channel Star “The Donkmaster” Sage Thomas’ 3.5gr Heads Up Pro Tree; Taste Deez Treatz Founder AG Cubano 3.5gr Fidel OG, and Maracuja; Fresca- Off The Couch; and Lyfted Farms/Summit Boys- 1gr Mobert X Unicorn Poop Caviar Badder, and the Leafly award winner Nump’s Garlic Noodles.
Lyfted Farm’s brand association with STIIIZY bolsters its caché in the industry as an authentic brand with a loyal consumer bond and solid ‘street credentials.’
Like Lyfted, STIIIZY has stayed true to its honest, grass-roots commitment to cannabis lifestyle and culture since its inception. California-based STIIIZY exploded onto the scene in 2017 gaining instant popularity with their eponymous vape pen among cannabis enthusiasts and skate boarders. In addition to its premium product, experiential retail locations and extreme consumer popularity, STIIIZY leads the charge in good corporate citizenship, promoting minority own businesses, ensuring diversity across its brand, and donating partial sales proceeds to U.S. Military Veteran affairs, homelessness, and social equity.
“The addition of STIIIZY stores and greater SoCal market penetration ties in perfectly with the expansion and increased output of our Daly facility,” said Mr. Serpa. “This revenue growth and increased consumer exposure is all part of our consumer-connected strategy and our lifelong focus on serving and celebrating cannabis culture and cannabis enthusiasts.”
About TransCanna
TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
TransCanna‘s wholly owned subsidiary Lyfted Farms is California’s authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new cultivation facility in Daly, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.
On behalf of the Board of Directors
Bob Blink, CEO
Corporate Communications:
investor@transcanna.com
604-200-8853
For updated information with respect to our company, please see our filings on SEDAR at www.sedar.com and on the CSE at www.thecse.com.
FORWARD-LOOKING INFORMATION:
Certain information in this release may contain forward-looking statements, such as statements regarding future expansions and cost savings and plans regarding production increases and financings. This information is based on current expectations and assumptions, including assumptions concerning the completion of the expansion of the Daly Facility, government approval of pro-cannabis policies, greater access to financial services and increased cultivation capacity, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include unexpected increases in operating costs, a continued strain on farmers due to fires and the Coronavirus pandemic and competition from other retailers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this release are made as of the date of this release and are included for the purpose of providing information about management’s current expectations and plans relating to the future. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80912
News Provided by Newsfile via QuoteMedia
Curaleaf Holdings, Inc. (CSE: CURA OTCQX: CURLF) (“Curaleaf” or the “Company”) a leading international provider of consumer products in cannabis, today announced that it will report its financial and operating results for the first quarter ended March 31, 2021 after market close on May 10, 2021 .
Management will host a conference call and audio webcast that evening at 5:00 p.m. ET consisting of prepared remarks followed by a question and answer session related to the Company’s operational and financial highlights.
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Event: |
Curaleaf First Quarter 2021 Financial Results Conference Call |
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Date: |
Monday, May 10, 2021 |
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Time: |
5:00 p.m. ET |
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Live Call: |
+1-888-317-6003 (U.S.), +1-866-284-3684 (Canada) or +1-412-317-6061 (Int’l) |
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Passcode: |
6935525 |
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Webcast: |
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For interested individuals unable to join the conference call, a dial-in replay of the call will be available until May 17, 2021 and can be accessed by dialing +1-877-344-7529 (U.S.), +1-855-669-9658 ( Canada ) or +1-412-317-0088 (International) and entering replay pin number: 10155488.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States , Curaleaf currently operates in 23 states with 105 dispensaries, 23 cultivation sites and over 30 processing sites, and employs over 4,600 team members. Curaleaf International, is the largest vertically integrated independent cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com .
Investor Contact:
Curaleaf Holdings, Inc.
Carlos Madrazo , SVP IR & Capital Markets
IR@curaleaf.com
Media Contact:
Tracy Brady , VP Corporate Communications
media@curaleaf.com
View original content: http://www.prnewswire.com/news-releases/curaleaf-to-report-first-quarter-2021-financial-and-operational-results-301271920.html
SOURCE Curaleaf Holdings, Inc.
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