Another Lift & Co. (TSXV:LIFT,OTCQB:LFCOF) cannabis expo kicked off on Thursday (June 6), with the business-focused first day bringing investors insights from experts.
During the day, a collection of panelists involved in the marijuana business took to the stage to discuss the current issues and changes in the market.
Some of these projections and comments came from Vivien Azer, managing director for consumer research in the beverages, cannabis and tobacco markets for Cowen (NASDAQ:COWN). She believes that edibles and infused products won’t become available in Canada before the end of the year.
“I would be very, very surprised if there’s ingestible cannabis in Canada for sale at any point in 2019,” Azer said.
Peter Aceto, CEO of CannTrust Holdings (NYSE:CTST,TSX:TRST), agreed with his fellow panelist on the edibles timeline prediction.
During a separate panel on what Canadian companies can do to capitalize on the legalization path the US has gone through, Azer suggested that there is a roadmap ahead for US President Donald Trump to legalize marijuana in some form.
“We think that the administration could very well (do it) … it really just comes down to timing,” the analyst said.
Azer explained that Trump might feel compelled to increase his polling numbers closer to the 2020 election and work alongside Senate Majority Leader Mitch McConell to pass some form of legalization program or the much anticipated STATES Act.
The STATES Act is a proposed bill that would create protections at the federal level for operations made legal by policies at the state level.
During a fireside chat, Mark Zekulin, co-CEO of Canopy Growth (NYSE:CGC,TSX:WEED), explained how important it is for the firm to share its IP and brands with Acreage Holdings (CSE:ACRG.U,OTCQX:ACRGF) as part of a proposed acquisition deal.
An audience member asked Zekulin if the company will acquire more brands in the US; while the executive said the focus is to grow Canopy’s existing brands, he admitted the company won’t be blind to thriving products in markets such as California.
Europe panel highlights market opportunities
Investors in attendance also heard about the possibility of companies entering the European market.
Deepak Anand, CEO of Materia Ventures, said many companies still fail to understand how significant and complicated obtaining an EU-GMP certification status is for any expansion plans in Europe.
Guillermo Delmonte, a former Organigram Holdings (NASDAQ:OGI,TSXV:OGI) executive, said that securing this status is a laborious, complex task that will take any company a long time.
Delmonte, who is now chief operating officer and president of RAMM Pharma, said he is surprised whenever a company lists an expectation of securing an EU-GMP certification in six months or less.
When asked about the benefits of participating in the European market, Anand said from a capital markets point of view investors are looking for international strategies from companies.
Fellow panelist Darren Karasiuk, chief commercial officer for Aurora Cannabis (NYSE:ACB,TSX:ACB), said a strategy in Europe also offers stability by showing a company’s expansion capabilities.
Anand said that he expects Europe to become the largest cannabis market in the world.
At the end of the session, the event’s host, Deborah Rosati, who is CEO of Women Get on Board, asked the panelists what they wish could change in the current cannabis market.
Amanda de Freitas, board member for the Redfund Capital (CSE:LOAN,OTC Pink:PNNRF) and a marijuana compliance expert in Canada, answered by asking for more attention from the capital markets for late-stage licensed producers needing support for a last push.
“Our domestic markets, we have a little bit of a shift from our domestic capital markets into the European markets and global markets,” she said.
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.
In the evolving rush of mergers and acquisitions (M&A) in the Canadian cannabis market, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced it will acquire The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) in a deal worth approximately C$435 million.
Meanwhile, a cannabis operator in the US confirmed this week that it will receive a financial boost from a partner to solidify its position in the burgeoning Pennsylvania state market.
The Board of Directors of Aphria Unanimously Recommends Shareholders Vote “For” the Arrangement
Aphria to Host Special Meeting of Shareholders on Wednesday, April 14, 2021 to Approve Proposed Aphria-Tilray Business Combination
Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), one of the UK’s leading CBD and Hemp product suppliers, announces that as part of the equity fundraise announced yesterday, Antony Calamita and Andrew Male, Directors of the Company, subscribed for 285,714 Ordinary Shares and 1,428,571 Ordinary Shares respectively. The subscriptions are at a price of 3.5 pence per ordinary share for a total of £60,000. Following these subscriptions, Antony Calamita is now interested in 54,385,714 Ordinary Shares, representing 8.61% of the Company’s share capital as increased by the fundraising, and Andrew Male is now interested in 6,138,196 Ordinary Shares, representing 0.97% of the Company’s issued share capital as increased by the fundraising
Further, the timetable for receipt of applications under the Broker Option, which was also announced yesterday, has been extended until 5:00 pm 9 April 2021 to capture additional interest which was unable to be completed yesterday.
Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, would like to provide the following dial-in information for the Company’s upcoming Annual and Special Meeting (the “Meeting”) scheduled to be held at 11:00 a.m. Eastern Daylight Time on April 12, 2021. Shareholders and proxyholders may access the Meeting via teleconference by dialing 647-723-3984 or 1-866-365-4406 from Canada or the United States, then entering participation code “8487744” followed by the pound (“#”) sign.
In consideration of the COVID-19 pandemic and the recent restrictions imposed by the Ontario Provincial Government, shareholders and proxyholders will only be able to attend the Meeting via teleconference and will not be permitted to attend the Meeting in person at the address provided on the Notice of Annual and Special Meeting of Shareholders.
Gage Cannabis Announces Exclusive Partnership With Blue River to Bring Award-Winning Cannabis Extracts to Michigan
Gage Growth Corp. (“Gage” or the “Company”) (CSE:GAGE), a leading high-quality craft cannabis brand and operator in Michigan, announced today that it has signed an agreement with Blue River™ Extracts & Terpenes (“Blue River™”) to bring the brand’s award-winning solventless technology and other trademark branded products to the state’s medical patients and cannabis consumers. The Company will have exclusive rights to Blue River™’s premium product offerings in Michigan.