Delta, Kelowna, BC - June 18, 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 430 (TSX: VLNS) (CSE: IMCC) (TSXV: WMD) (OTCQX: WDDMF)
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.
Valens GroWorks Corp. (TSX: VLNS) (OTCQX: VLNCF), a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products, today announced that it has signed a custom manufacturing agreement with Vancouver-based boutique brand house, FPS Brands Inc., to launch ufeelu, a line of craft, hemp-derived CBD products.
Under the terms of the two-year agreement, The Valens Company has agreed to manufacture a minimum of 250,000 units across a variety of branded products in the ufeelu portfolio. Valens will initially focus on the development of cannabis oils, vapes and topicals, with specialty drinks expected to be added to the product line shortly. The Valens Company will be responsible for providing premium extracts, filling, packaging and manufacturing services, in addition to national distribution of the ufeelu branded products. Fees equal to the predetermined wholesale price will be earned by The Valens Company for all branded products manufactured, shipped, and sold, in addition to a brokerage fee on monthly revenue. FPS Brands will receive revenue upon the sale of products to provincial cannabis regulators. A minimum production deposit will be provided upfront by FPS Brands.
FPS Brands is a Vancouver-based boutique brand house focused on creating innovative and approachable cannabinoid-based products. The ufeelu product line uses Canadian-grown hemp and carefully selected plant-based terpenes to craft naturally enhanced broad spectrum CBD blends in various consumable methods. The low THC line of products is designed for those who want to embrace whole plant extracts without the psychoactive effects.
"We are excited to launch ufeelu with our new partner FPS Brands, a fellow Western Canadian company focused on crafting artisanal CBD products," said Tyler Robson, CEO of The Valens Company. "Their ability to dream up original brands such as ufeelu perfectly complements our expertise in using plant-based science to create customizable oil-based products. The ufeelu line will leverage Valens' vast terpene database, in addition to botanical extracts, to bring these meaningfully curated CBD products to Canadian consumers in fall 2020."
IM Cannabis Corp. (CSE:IMCC), one of the world's pioneering medical cannabis companies with operations in Israel and across Europe, announced that Focus Medical Herbs Ltd. has successfully received its first shipment of medical cannabis from an EU-GMP certified indoor cultivator of medical cannabis based in Canada. This first shipment is comprised of approximately 200kg of medical cannabis and will be sold by Focus Medical under the IMC brand to medical patients in Israel.
IMC has now secured seven suppliers producing under the IMC brand: five domestic suppliers in Israel, and EU-GMP suppliers in both Spain and Canada. With the Israeli government now accepting applications for export of medical cannabis, this supply base could be used to fulfill the growing demand in the European market subject to regulatory approval. Furthermore, the first shipment of 200kg of medical cannabis from Focus Medical's EU-GMP supply partner in Spain is being sold under its previously announced pharmacy sales agreements and is receiving positive reviews. The next shipments from Spain to Israel are expected in the third quarter.
"We have great respect for Canada's global leadership in the development of its local and international cannabis industries. With our ambition for IMC to become a leading global brand in medical cannabis, it is a strategic imperative to have deep ties with Canadian licensed producers," said Oren Shuster, Chief Executive Officer of IMC. "The outlook for the cannabis industry in Israel is very promising following the Israeli government's announcement last week of its intention to develop a cannabis decriminalization framework with legislation to increase access to cannabis for more users across the country. We are very confident that this will result in increased demand for high quality cannabis products as more users access cannabis through legal channels as we have seen in North America. IMC remains in an excellent position to increase its brand's market share in Israel and expand its international recognition by providing cannabis products known for quality, consistency and purity."
WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF), a federally licensed producer and distributor of medical-grade cannabis, announced the launch of its same-day medical cannabis home delivery service. The pilot project called 'PatientDirect' will service local patients in the greater Toronto-area starting in June, with order fulfillment from the Company's Bowmanville, Ontario distribution centre located just outside Toronto.
PatientDirect is intended to ease potential third-party postal and delivery service disruptions
resulting from the current business conditions. The service will be offered to new and existing Starseed Medicinal patients commencing in June with eligible patients being notified by email. The service will expand to WeedMD patients in the coming weeks. Over time it is expected to become a standard service option.
"Expanding our in-house delivery options for more timely transport to our medical patients was a strategic goal for the year which we recently accelerated as an immediate solution to potential postal delays," said Angelo Tsebelis, CEO of WeedMD. "By centralizing a medical fulfillment operation in our Bowmanville processing centre, we can fast-track deliveries to patients in the greater Toronto area. Launching PatientDirect required thoughtful planning and resource allocation and I'm proud of our team for expediting this to better serve our patients' needs and add long term value to our offerings."
"Ensuring our patients have reliable access to medical cannabis through a trusted and safe delivery system is paramount for promoting health and wellness in our community," said Moe Jiwan, Chief Customer Officer, WeedMD and Starseed. "After listening to our patient's feedback, it was clear there was a need for a more reliable, safe, and speedy delivery option and we're thrilled to confirm the launch of our PatientDirect service."
As part of its ongoing rapid expansion across Ontario, The Hunny Pot Cannabis Co. announced the launch of its first express cannabis stores, located in the heart of the Yonge and Eglinton neighbourhood.
The two new express stores are located at 2591 Yonge St and 2103 Yonge St and will depart from The Hunny Pot's original concept and layout of the brands flagship stores in favour of contactless, express models that reduce the need for person to person contact. The two new locations will mark the brands third and fourth locations and is the first cannabis retail store for the community.
The move to a more digital, contactless framework is on par with industry trends across the globe.
"There's been a significant drive for many industries to offer a more intuitive framework that focuses on customer experience and efficiency first and foremost," said Hunny Gawri, Owner of The Hunny Pot Cannabis Co. "The Hunny Pot flagship stores are larger in format and focus on enhancing the retail experience from all angles, including personalized budtenders, but as digital technologies are changing the way consumers shop, we opted for a smaller, more flexible format with these express stores."
Both stores will also offer the popular curbside pickup and same day delivery that was launched by The Hunny Pot in April 2020. The Hunny Pot is now offering same day delivery starting at $0 to customers in Toronto and Hamilton.
"We've already seen these express models being adapted successfully in grocery stores, restaurants and hotels, and we are excited to be applying this format to the cannabis space. Our customers can expect the same quality and customer service they have come to know from our brand, but with a smaller footprint and improvements made to allow for a quicker, expedited retail experience," said Hunny Gawri.
In light of the ongoing COVID-19 pandemic, the store comes at a time that consumers are looking for safer and more innovative ways to shop.
"This express concept was in the works well before the pandemic hit, but it's evident that it's come at the right time. The pandemic has really reinforced that the way we shop is changing and is going to continue to change," said Hunny Gawri.
"While it's not a conventional approach to secure two stores so close to one another, there is a considerably high demand for legal cannabis in this area. Our hope is that with two locations in such close proximity, we will be in a strong position to better service the neighbourhood in less time, ultimately helping more customers experience legal cannabis in a safe and welcoming space," said Hunny Gawri.
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