Delta, Kelowna, BC – March 26, 2020 (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, Cannabis News and Stocks on the Move; Episode 389 (TSX: TGOD) (OTC: TGODF) (TSXV: NRTH) (TSX: ALEF) (OTC: ALEAF)
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 are looking at a few company announcements.
Starting with, Cannalogue, who has submitted an application to Health Canada to conduct a real-world clinical trial with medical cannabis for COVID-19 (Coronavirus). If approved by Health Canada, Cannalogue will enroll patients into the research study to determine if medical cannabis can reduce the symptoms caused by COVID-19 or any mutant strains of coronavirus.
“Cannalogue is committed to doing our part. The need is too great and we have to act now,” says Dr. Mohan Cooray, President and CEO of Cannalogue. Dr. Cooray, who is also a specialist in Internal Medicine, Gastroenterology, and Hepatology goes on to say, “We are not suggesting with the current knowledge of medical cannabis that it is a prevention, treatment or cure for COVID-19 or coronaviruses. However, plant cannabinoids have naturally occurring immunomodulatory properties that absolutely require expedited investigation given the current global COVID-19 pandemic,” he says.
Cannalogue is responding to the call by the Honourable Prime Minister of Canada to enforce wartime measures and for all Canadian businesses to stand united in the fight against COVID-19. The specialists at Cannalogue believe the active medical ingredients from the cannabis plant could potentially boost the immune system to reduce the severity of symptoms from COVID-19.
“Cannabinoid receptors are naturally found on immune cells in the body. If stimulated prior to an infection, it may dampen the inflammatory response that follows, which is a key factor in the severity of symptoms observed in patients,” says Dr. Cooray. “This appears to be a common mechanism of action for the current therapies being investigated for COVID-19 research studies. If we can’t flatten the curve, then we need to focus on reducing the number of deaths,” he says.
In support of the medical cannabis sector and scientific research community, Cannalogue will be releasing an exclusive insider health report that reveals key medical insights on emerging therapeutic areas with respect to medical cannabis.
The Company has postponed the start up of its Valleyfield facility in order to centralize cultivation operations at Ancaster. The Ontario facility is able to produce larger volumes than initially anticipated, enabling the Company to delay cultivation operations in Valleyfield saving costs and capital. The Company has temporarily laid off the majority of its Valleyfield employees and intends to restart operations there later in the year. Ancaster is not impacted and continues to grow and harvest premium organic cannabis for the recreational and medical markets.
This change does not impact TGOD’s timeline for the launch of its remaining Cannabis 2.0 products, with Infusers already launched and organic teas and vapes still on track to become available at the end of next month.
TGOD expects to imminently receive its licence amendment from Health Canada for the processing facility at Ancaster. Once it is received, the Company will be able to automate many of its processes reducing costs and further accelerating production.
As it continues to work towards becoming EBITDA and operating cash flow positive later this year, beyond the cost savings generated with the Valleyfield operation postponement, TGOD has undertaken another series of measures to aggressively reduce costs. This includes:
- Temporary salary reductions of 20% for salaried employees and 30% for certain executives
- A freeze on all non-essential recruitment and consultancy work
- Working with suppliers to identify further cost savings and efficiencies
“Multiple factors, most particularly the COVID-19 pandemic, are contributing to an environment in which we must be extremely prudent with how we manage our cost structure. These are unprecedented times, and the situation continues to evolve. With the support and unity I have seen from our employees, partners and stakeholders, I am very confident that TGOD can tackle this challenge and come out much stronger,” commented Brian Athaide, CEO of TGOD. “We have seen very strong consumer and medical patient feedback from our recent TGOD Infusers launch and are looking forward to having them available in more stores quickly. These along with our upcoming additional 2.0 products are very unique and deliver superior consumer experiences which will help further differentiate and build our TGOD organic brand positioning,” continued Athaide.
48North Cannabis Corp. (TSXV:NRTH), announced that it has shipped the first order of its vape product Avitas to the Ontario Cannabis Store for retail sale. The Avitas vape marks the Company’s first vape product available for sale.
Avitas, available in over 500 stores in Washington, Oregon and Colorado is one of the best-selling single strain vaporizer cartridges in the United States and represents 48North’s first product introduction as part of its vaporizer strategy. Avitas develops 100% additive free, single strain, ultra-refined and purified, vaporizer cartridges. Single strain vaporizer cartridges represent the fastest-growing, next-generation cannabis product category in the United States.
To start, 48North will be launching a Super Citrus Haze vaporizer cartridge, using flower that has been hand selected for flavor, aroma and cannabinoid profile. This unique sativa forward strain is earthy and citrusy to the tongue with terpenes that evoke herbs like black pepper and cloves. The Company uses a gentle extraction method to preserve the flower’s cannabinoid and terpene profiles, resulting in single strain, full spectrum oils – clean and simple.
Successfully launching the company’s first vape product to market is indicative of 48North’s renewed commitment to improving operations, investing in product design, and supporting high-quality experiences for Canadian consumers.
“Since the beginning, 48North has been committed to selling next-generation cannabis products to Canadian consumers. In response, the company has built landmark partnerships with brands like Apothecanna and Avitas to bring some of the highest-quality products to consumers. Bringing market-tested brands from the United States to Canada has been part of the 48North strategy from the beginning. In doing so, we capitalize on a head-start with brand building and fostering consumer loyality. We very excited to share this product with Canadians across the country,” said Kirsten Gauthier, CMO of 48North.
Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) announced launching its last-mile medical cannabis home delivery service. It will provide patients next-day, direct-to-home delivery on medical cannabis orders made in Ontario’s Greater Golden Horseshoe Region, home to over 9 million people.
By delivering directly to patients’ homes, the service provides safe, contactless delivery, eliminating the need for customers to pick-up products at post offices and post boxes. It also mitigates the risk to the Company of disruption of postal and third-party parcel delivery services during the COVID-19 pandemic.
The initial GGHR launch is anticipated to occur during the next two weeks, with a planned subsequent expansion to new Canadian markets, and the introduction of same-day, scheduled delivery.
“By controlling the last mile of our supply chain, we are providing a unique service to patients who want fast, secure and convenient access to their medicine,” said Aleafia Health CEO Geoffrey Benic. “Adapting to this challenging environment is critical. In addition to launching home delivery, earlier this month we transitioned to conducting 100 per cent of patient consultations remotely through telemedicine, with the goal of not missing a single patient appointment.
“Having said that, introducing home delivery has been long in the works and will be a permanent feature that we offer moving forwards.”
Aleafia Health’s home delivery benefits from the supply chain logistics experience of Benic and COO Greg Rossi, who were among the founding partners of the award winning online grocery fulfillment and delivery service, GroceryGateway.com. The pair have also worked as executive consultants on supply chain logistics projects for some of the world’s largest companies including Walmart Inc., Nestlé S.A., Kraft Heinz Company, Campbell Soup Company and Mondelez International. Benic and Rossi were also the architects of Trust Delivery, the first and only same-day Canadian medical cannabis delivery service.
Now lastly we look at two stories linking the alcohol industry with the cannabis sector, and how the alcohol industry is now adopting methods from the cannabis sector as their roles in society are reversed.
One company, Boozer Inc. announced the launch of a Canada-wide click-and-collect initiative in response to the continuing COVID-19 public health challenge. Complementing our existing same-day delivery platform, the click-and-collect feature will allow Canadian alcohol retailers, including independent retailers, craft breweries and distilleries, to stay open for business using the Boozer e-commerce platform for ‘take-out’ and ‘delivery’.
The click-and-collect service will allow age-permitted users to order their favourite alcoholic beverages and products for on-demand pickup from a licensed retail location near them, all through the existing Boozer platform. Employing an e-commerce solution allows both the customers and retail staff to maintain social distancing to the extent they feel comfortable, or as required by local authorities. “Retailers now more than ever need to provide a safe environment for consumers to purchase products. Today retailers are effectively needing to turn in-store shoppable retail spaces into click-and-collect and delivery fulfillment centers.
We are looking to support this activity by moving forward with this initiative that will keep local retail stores open and to provide much needed assistance to the retail sector,” commented Michael Kniazeff, CEO and Co-Founder of Boozer.
“Click-and-collect is well adopted by consumers in the grocery and restaurant industries, and we’re excited to bring this convenient experience to the retail alcohol space,” commented Ian Delves, President and Co-Founder of Boozer. “On the delivery front, like others Boozer has been seeing massive spikes in demand over the past week. We see the launch of click-and-collect as a way to help alleviate some of the strain the entire delivery community has been dealing with, as we navigate this unprecedented lift in orders,” he added.
The National Association of Cannabis Businesses (NACB) today announced the appointment of Mark Gorman as its new Executive Vice President and Chief Operating Officer. The NACB is the only cannabis industry trade group dedicated to promoting national standards for responsible advertising and marketing of cannabis products, as well as other best practice guidelines for businesses in the burgeoning sector.
Gorman joins NACB from the Distilled Spirits Council of the United States (DISCUS), where he served 20 years as the Senior Vice President for Government Relations overseeing the distilled spirits industry’s highly successful legislative, public policy and advocacy activities at both the federal and state levels.
“We are delighted to have Mark join our team as the leader of our governmental policy and outreach efforts,” said Gina Kranwinkel, NACB’s President and CEO. “Mark’s depth of experience with the challenges faced by highly regulated industries make him an ideal fit with our organization.”
Under Gorman’s direction, the NACB will work to broaden support among other cannabis groups, consumer protection agencies and government policy makers for its responsibility standards and best practice guidance.
“The distilled spirits industry weaves responsibility into every facet of its business from advertising and marketing practices to public policy and education initiatives. This commitment to responsibility has earned the industry respect on Capitol Hill and credibility in state capitols across the country. I look forward to applying this experience to help the NACB develop a successful legislative and regulatory path forward,” Gorman said.
Prior to joining DISCUS, Mark spent seven years leading government affairs at the National Restaurant Association and several years as deputy director at the Washington office of General Mills, Inc. He is also a Capitol Hill veteran having worked six years as a tax legislative assistant for Sen. John H. Chafee (R-RI).
The NACB, which was established in 2017, represents over 400 member-businesses and thousands of cannabis professionals around the country. They are the industry’s first and only self-regulatory organization, whose mission is to support the compliance, transparency and growth of legal cannabis businesses in the U.S.
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