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Will Sundial Growers' Wheeling and Dealing Pay Off?
Contributor
David Jagielski The Motley Fool
Published Jun 2, 2021 6:25AM EDT
https://www.nasdaq.com/articles/will-sundial-growers-wheeling-and-dealing-pay-off-2021-06-02
Sundial Growers (NASDAQ: SNDL) owes a lot to retail investors. If not for the stock's sudden and unexpected surge in value earlier this year, the company would not have been able to take advantage of its inflated share price when it decided to undergo not one, but two, offerings shortly afterward. Management's quick actions could pay off for the business in the long haul.
In recent months Sundial has been active on the M&A front, investing in other cannabis businesses. But are those moves good ones, and do they make the pot stock a more attractive buy today?
The company has been busy
The way that Sundial has been wheeling and dealing over the past few months, investors might think it's Black Friday on the markets. Here are all the deals the company has announced since February:
It made a strategic investment of 22 million Canadian dollars in Indiva, which makes edible cannabis products. In addition to buying shares of the company, Sundial will also provide Indiva with a term loan facility.
It created a joint venture, SunStream Bancorp, with SAF Group. The venture, which is split 50-50 between the two entities, will look at potential investment opportunities in the cannabis industry, both globally and within Canada, including possible SPACs. Sundial initially invested CA$100 million in March, and increased that to CA$188 million just a month later.
It acquired shares of Valens for just under CA$2 million. Together with its previous purchases, Sundial now owns more than 10% of the business. Valens is a cannabis extraction company that has generated CA$72 million in revenue over the trailing 12 months.
Its most recent acquisition was on May 5, when Sundial announced it would acquire all of the shares of cannabis retailer Inner Spirit in a cash-and-stock deal worth CA$131 million. Inner Spirit has 86 stores across Canada and plans to hit 100 as early as this summer. Last year the company reported CA$27 million in revenue.
Today, right now I would rather own Sundial with the Reddit effect.
Shares Outstanding = 1.9B and they are a money losing gusher.
After soaking their shareholders from survival motivated equity raises, Sundial might just be looking at their salvation as investing in other related cannabis companies that are going to be making money.
Their investment in Valens is already paying off.
You'd rather own Indiva and not Sundial?
Will Sundial Growers' Wheeling and Dealing Pay Off?
There could be plenty of deals still to come.
By: David Jagielski
https://www.fool.com/investing/2021/06/02/will-sundial-growers-wheeling-and-dealing-pay-off/
Jun 2, 2021 at 6:25AM
Sundial Growers (NASDAQ:SNDL) owes a lot to retail investors. If not for the stock's sudden and unexpected surge in value earlier this year, the company would not have been able to take advantage of its inflated share price when it decided to undergo not one, but two, offerings shortly afterward. Management's quick actions could pay off for the business in the long haul.
In recent months Sundial has been active on the M&A front, investing in other cannabis businesses. But are those moves good ones, and do they make the pot stock a more attractive buy today?
The company has been busy
The way that Sundial has been wheeling and dealing over the past few months, investors might think it's Black Friday on the markets. Here are all the deals the company has announced since February:
It made a strategic investment of 22 million Canadian dollars in Indiva, which makes edible cannabis products. In addition to buying shares of the company, Sundial will also provide Indiva with a term loan facility.
It created a joint venture, SunStream Bancorp, with SAF Group. The venture, which is split 50-50 between the two entities, will look at potential investment opportunities in the cannabis industry, both globally and within Canada, including possible SPACs. Sundial initially invested CA$100 million in March, and increased that to CA$188 million just a month later.
It acquired shares of Valens for just under CA$2 million. Together with its previous purchases, Sundial now owns more than 10% of the business. Valens is a cannabis extraction company that has generated CA$72 million in revenue over the trailing 12 months.
Its most recent acquisition was on May 5, when Sundial announced it would acquire all of the shares of cannabis retailer Inner Spirit in a cash-and-stock deal worth CA$131 million. Inner Spirit has 86 stores across Canada and plans to hit 100 as early as this summer. Last year the company reported CA$27 million in revenue.
That's a lot of activity in a short period. The cannabis producer is certainly diversifying its operations, while also making investments in other businesses. For a company that generated just CA$11.7 million in gross revenue in its first-quarter results for the period ending March 31 (for a year-over-year decline of 29%), these additional investments will give Sundial more opportunities to pad its struggling top line.
What I like in particular is its investment in Indiva, which could expand its product offerings. And its acquisition of Inner Spirit should complement its shift in strategy away from wholesale and toward branded sales. Sundial was strategic with its moves, and didn't blow all of its money on one big acquisition, leaving plenty of options on the table moving forward.
Sundial is still sitting on lots of cash
Although the company has been busy investing its money, investors shouldn't be surprised if it continues making more moves. Sundial reported that as of May 7, its unrestricted cash balance totaled CA$752.7 million. That's higher than the CA$719 million it reported on March 15, and more than 12 times the CA$60.4 million it had at the end of 2020.
What's great for investors is that the company isn't burning through all of its cash, so that money can provide stability for the business. In its most recent quarter, Sundial used up CA$34.4 million on its day-to-day operating activities. If it maintains that pace, its cash (assuming there are no other investments or acquisitions) should last for more than 21 quarters.
Should you invest in Sundial Growers?
There are many reasons Sundial looks like it may be a bad buy: The business isn't growing, it has incurred net losses of CA$330 million over the past four quarters, and it is spending most of its money on acquisitions rather than its core operations. But with a stockpile of cash and plenty of opportunities to grow its business through these new deals, none of those reasons should deter investors. I think Sundial is in the midst of a turnaround, and may look drastically different a year from now. And that's what likely has many investors excited about the pot stock, as it is expanding and making strategic moves that could put it in much better shape in the not-too-distant future.
However, I wouldn't invest in the company just yet -- I am curious what it will do with all these moving pieces and how well they fit into its overall strategy. While at first glance the business looks like it may be on the right path, it's far too early to tell right now. I'd definitely keep a close eye on Sundial, but I wouldn't pull the trigger and buy its stock just yet.
NEW Indiva Flower Coming Soon
https://manage.kmail-lists.com/subscriptions/web-view?a=P6GTmJ&c=LwKGhr&k=254c5adc42de1ba07014969916d17438&m=Vivfv6&r=xWkJA7r
Did someone say donuts? ??
No, we didn’t get into the baking business. Well, maybe we sorta did...but not in the traditional sense. Introducing Powdered Donuts, the newest strain from Indiva.
Powdered Donuts is a sativa-dominant hybrid strain with sweet, doughy flavours finished off with a hint of citrus. Featuring a unique terpene profile led by caryophyllene, limonene, and myrcene, this strain has a THC potential of 20-26%.
Powdered Donuts will be available as 3.5 g jars, which are coming soon to Ontario. Keep an eye out for Powdered Donuts in your area, and get ready to enjoy some “baked” goods without the dusty fingers.
Earnings Call Transcript--->>>Indiva Limited (NDVAF) CEO Niel Marotta on Q1 2021 Results - Earnings Call Transcript
Jun. 01, 2021 6:45 PM ETIndiva Limited (NDVAF)
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Indiva Limited (OTCQX:NDVAF) Q1 2021 Earnings Conference Call June 1, 2021 2:00 PM ET
Company Participants
Neil Lock - IR, Lock Consulting
Niel Marotta - President and CEO
Conference Call Participants
Neil Lock
Welcome everyone. Thanks for joining us. I hope you're having a great Tuesday. It is my pleasure to welcome Niel Marotta, President and CEO on Indiva. Niel, it's all yours.
Niel Marotta
Thanks Neil. Thanks for the introduction. I'm Niel Marotta, I'm the President and CEO of Indiva Limited. Thanks for joining us today and taking time out of your busy days. We're doing this in the middle of the day for a change, I think to accommodate everybody across all the time zones. So, this time works, I always appreciate feedback.
I'm going to launch right into it, I'll try not to -- going on 30 or 40 minutes, I'll try to keep it to a tight 15 minutes or so on the presentation, maybe a little longer, we've added some slides and then we'll open it up to Q&A, which is always fun for everybody I hope.
So, this is first slide that you see here, this shows a variety of our products, we reported our Q1 financial results today and the real takeaway there 89% of our revenue is from edible products. And so you can see Wana, Wana Quick, and Bhang Chocolate, along with some Ruby Sugar, which we have not launched yet on the title page. I'm going to go and review this forward-looking statements.
So, a quick overview, we are the number one edible company in Canada. We started -- we have 48% market share as at April according to Hifyre data that's across the entire edible category. We're very happy with that. The numbers continue to trend higher in Q2 and I'll break down some of that more specifically, we'll get into it. We're nine provinces in two territories, including the medical channel where we sell through medical cannabis by shoppers, whilst can markdown with medics.
And right now our current market cap is around $60 million. So, well below our peers. And I'll discuss that a little bit later on some of the slides that I have.
Cash balance at the end of the quarter were $7 million, our long-term debt is $14 million, none of which is due for another three years or so. And the convertible debentures make up $3 million of that and they are all well into money being priced at $0.20 and $0.25.
Here's a few pictures from our facility. We're in London, Ontario 40,000 square foot facility that we own, it's fully built and fully licensed. This is where we make all the gummies, the chocolates, the pruvals, and the capsules.
This is a little summary of the last few quarters. So, you can see on the revenue side, we did dip a little bit versus Q4, we got into that on the conference call, but short story is number one, very difficult comp, we had a big sell in in Q4 of new products we've want to seasonality-wise December is always a little stronger than January and February. And then of course biggest impact that we felt was the lockdown of the stores in Ontario, this makes a big a big difference.
We expect growth to -- sequential growth to resume in Q2, we made that public in our press release letter call and we would expect record revenue in Q2 based on the purchase orders that we've received. In terms of the gross margins. I see we've got a question here already about what do we expect our margins to be?
We're not going to give you an absolute margin guidance number, I think somewhere around double this would be great. Maybe even a little bit better. I'm going to talk -- I might as well do it now, but I think we've gotten into the distillate costs on our call, and I think it is worth unpacking. So in Q1, our gross margin was 19%, that's definitely better than 12 at Q4, but not good enough, in our opinion.
But our distantly costs are still quite elevated. So, average cost per milligram of distillate was about $0.05 in Q4. That dropped to $0.035 to $0.04 cents in Q1. Current COGS in Q2 would be going through in about a $0.015 and spot prices for distillate today are under a $0.01. So, what does that all mean?
In Q1, we sold 30 million milligrams and so if you were to duck to deduct say $0.03 or a little bit over $0.03 per milligram to get to where pricing is today, that would have added roughly a $1 million of profit to our EBITDA and we would have been EBITDA positive.
So, we reported minus $0.5 million, a loss of $0.5 million on the EBITDA line and had we got into the cheaper distillate sooner than I think we -- the bath would say all things being equal, we would have been even positive. So, this this has a big impact.
It will benefit Q2 and Q3. Just to give you some idea, I mean, we reported $6.2 million of net revenue and had we saved a $1 million of display costs in the quarter would have added, again, apples-to-apples, all things being equal would have added about 15 points to our gross margin, we would have been in the low to mid 30s. With still room to improve. So, I hope that answers the margin question, that's more detail than we've ever given. And I hope it doesn't hurt our pricing.
This, this is a look here at Canadian store growth. I mean, obviously, we've seen this isn't the growth in the number of stores, but we're at about 1,800 plus stores now. Ontario is over 700 stores and on track to be over 1,000 by the summer. So, let's hope that we open up soon and people can actually go in those stores.
With respect to Edibles directly, when we look at mature markets, the Edible category is typically sort of 15% to 20% of the total pie, sometimes a little bit lower, sometimes a little bit higher, depending on the market and season. So, in Canada and we'll get into these numbers shortly, but we think the Edible category itself has a lot of growth left ahead of it.
People need to remember, remember that Edibles weren't even illegal until December of 2019 and really didn't start getting into the market until January 2020. So, the entire Canadian edibles market is not even a year and a half old. We began shipping Bhang Chocolate in February of 2020 and we began shipping Wana Gummies, which is the number one edible in the country with over a third of the total category, not just the gummy category, it's more than half the gummy category. But when you look at Edibles, it's about 36% of the total. And we only began selling those in September. So, we've come a long way pretty quickly.
And just to back up real fast here to our revenue chart. This is why you see that jump in Q4 and Q1 that reflects launching gummies in late September and so we got the real full benefit in Q4.
I'm going to take you through a little bit of a walk on the Canadian market and what it all means to Indiva. So, right now we're at about $300 million a month in terms of the total market size, $3.6 billion annualize that continues to grow. And you can see that in the chart here.
And then on Edible sales, we hit about $13 million in the month of April. These are retail numbers from Hifyre. And so this next slide here that we've added shows how the category itself has grown. And what I point out is two things. One, it's always nice to see charts that go from the bottom left to the top right.
Secondly, there's a bit of an acceleration in the chart in September, because that's when we launched Wana Gummies. So, I would say we're contributing a good amount of this growth, I don't have the number off the top of my head of how much incremental growth in a category was driven by Wana and by Indiva, but a good a good part of it for sure.
This is the number that in U.S. markets is closer to 15%. So, I mean, I don't think it's unreasonable to expect this category to double in terms of its relative size or in size relative to the total pie. In fact, it probably should triple or more and that's going to be driven by new product introduction and innovation and education, all of which we plan to keep investing.
Inside the Edible category, this is really a breakdown. So, Gummies and Chocolates make up 95% of the category itself and what you can tell I think from this chart is the chocolate market is not expanding dramatically, it's really being driven by sales in Gummies and in terms of absolute dollars. So, we're the -- as you said, the category leader and the subcategory leader with over half the gummy market nationally. So, we're very proud of that.
Those of you that think that the Edible category is a small category, I guess 4% might sound small of a pie that's growing as quickly as it is. But again, I think we've -- you've heard me make the case for why we think the category will grow, but more importantly, having that category captaincy that we do have that's been powerful enough for us to be the 12th ranked LP in the country according to Hifyre data. That's for April.
And again, this is also against companies that sell product into Quebec, where we are not yet able to sell Edibles through the recreational channel. If you were to exclude Quebec from the data, our rank would rise to 10th. So, little odd thinking about our market cap and the success we've had and how well our products are liked by our customers, and the great feedback we get from the stores and the bud tenders, the provincial wholesalers. And you look at some of the names, some of which have been acquired in the last six months that are ahead of us on this list and it's a little bit puzzling.
I mean, looking down the list, I mean Ruby Cannabis just acquired for $935 million, I believe and $925 million I think, and Supreme 7ACRES was acquired not too long ago by Canopy for over $400 million. So, if you were to look at their respective market share, let's say on a per market share point basis, which is a bit of a goofy analysis, but, you'd probably -- it would work out to about 150 million of market cap per share of market share -- per point market share.
If given were attributed that kind of valuation, we'd be, probably a $3 stock at this point $2 or $3 stock, I'll call it 2% to 2.5% of the overall market, not just not just edibles, but the overall market. That kind of number would be a 300 million plus market cap, not 60 million. I can answer more questions about that, if that wasn't clear.
This actually shows our improvement. We chose January 20, because that is when edibles became legal. And that is our core business with close to 90% of our revenue coming from edibles. And you can see, according to Hifyre, we've gone from 23rd in the country to 12th.
And in on the OCS, side of things, OCS data, we've gone from 30th to 9th, and very happy that we've cracked the top 10 in terms of again, this is overall market share across all categories. Obviously, our sales are driven primarily by edibles, but this is against all categories.
On more slide here again, this is -- this is our market share. So you can see the edible share on the left at 48% there's the orange bars, and then our overall market share. I think that's around 2.2% as of April. And you can see the big increases we've had in the overall market share. I mean, we were well under 1% market share before we launched Wana. And so it's had a very positive and powerful impact on our company.
And this is the subcategory share, so the black line is Gummies, the orange line is chocolate. You can see the sharing Chocolate has been essentially flat. But our sharing Gummies is going up dramatically and still rising. So we're very pleased with that.
Back to Indiva specifically, I joke all the time I did a presentation in Vancouver before the pandemic started about a year and a half ago. And we had one lonely checkmark on this slide in the top left corner selling pre-rolls Ontario and now you can see we've dramatically expanded the breadth of our offering across the country as well as the depth of the product lineup. And you know, once again, obviously the Chocolate the one that Gummies they want to quick, I've had a huge, huge impact.
I'll let you look at this team on your own and happy to answer questions about it. But everybody in this team now is very, very familiar with the Cannabis industry. Most of these good folks here worked in the CPG industries elsewhere and brought that great knowledge to Cannabis. And we've got a great team, very happy to work with them every day.
These are our brands, so you all probably know Bhang and Wana, Artisan Batch is dedicated to craft cannabis. We can talk a little bit about that and we'll be launching our line of infused sugar salts and sweet tarts shortly.
On top of the page, we do use the corporate brand and even on some of our products namely a bit of Flower and Pre-rolls and Capsules, which sell well in Ontario. Artisan Batch, as I mentioned briefly, this is a brand dedicated to high premium, high quality craft cannabis, high potency, strong terpene profile usually typically over 3%, and so we were constantly looking to partner with more micro cultivators and bring the best flower product to market across the country. We're up to 10 SKUs now with Wana, you can see them there including the three Wana Quick SKUs that launched unfortunately in the -- in the middle of another lockdown in Ontario.
And so tough to quantify, but I'll tell you that that sales of Wana Quick are going better in the West where stores stayed open versus Ontario where they were closed, and I think that relates to helping educate customers about the differences between the products and Wana Quick is a fast onset product with a slightly higher price point, and I'm very hopeful that once the store is open again more customers become aware of the product and also aware of the different features and benefits and we hope that will drive sales in Wana Quick in Ontario.
We're up to seven Chocolate SKUs through Bhang. And the last two were that we've just launched on the bottom, the Caramel Mocha and the Cookies & Cream. The Cookies & Cream is sold very, very well. I would say probably ahead of our expectations, in the Mocha side of things, I would say, meeting expectations very well.
And then at the bottom there, you've got some more products that -- that will be launching in the second half of the year, there will be sugar, which is infused Cannabis Sugar, Sapphire, Infused Salt, and the Jewels that you see in the middle will probably launch those first.
And those are very much like a sweet tart or rocket it, it takes the Ruby Sugar, and it's pressed into a tablet with powderized fruit. And so it's an interesting product and very different from anything that's on the market currently. We're always looking for new partnerships. And I would say to everybody, please stay tuned.
I won't bore you with slide here, going through our corporate history since going public at the end of 2017. But what I would say is, since we did get our license to sell edibles, a little over a year ago, we said January -- end of January 2020. Obviously, the business is accelerated a lot. In many ways it's a completely different company. And so I would encourage you to look closely at the changes between 2019 and 2020, and even into 2021.
Question-and-Answer Session
A - Niel Marotta
First one was about margins. What do we anticipate for the rest of the year? I'm not really comfortable giving you an exact number. I think that's where the kind of environment where anything could happen. So I think it's difficult to say, but I would point back to, let's say, the mathematical guidance on the impact of distillate, and so certainly we expect to get to north of 30%, just based on those cost savings. The question is, how quickly do we get there?
When we get there in Q2, or Q3, that sort of being north of 30%. I guess you'll just have to stay tuned. But I'd like to think we could get to 40% gross margins, between the savings and distillate and some other improvements in efficiencies. But, certainly the big change, and the faster change will come from lower a distillate costs sort of filtering through.
Next question, here. I think this is kind of on the same line of things here that the mathematically packed to the distillate. Basically, the question boils down to would we have been EBITDA positive if just flip were costed at $0.15?
The answer is yes. Yes, we were.
With me here, next question. Okay. Question is regarding Sundial question is how did they $22 million investment from Sundial benefiting Indiva and how is the cash use?
Well, I think it certainly improved our balance sheet. I mean, at the end of Q4, we had about 300,000 of cash left and at the end of Q1 on the balance sheet anyway, and at the end of Q1 we had over 7 million. So certainly provided, let's say a lower risk balance sheet for our shareholders and provided more financial strength and better working capital. How are the funds used? I would say 60% plus were used to refinance all of our debt short term and long term. And so now we've got cheaper debt, less onerous and with a three year due date its interest only. So that was a big benefit.
And the balance is still with us, or went out the door and fees is, you know, probably all aware of -- that fees doesn't mean the management fees means to outside players. Didn't even retire all its debt, we did not retire all our debt, we refinanced our debt with a Sundial deal. So we -- still do have 11 million of long term debt plus 3 million a convertible debt. As I mentioned, that's all in the money. And the 11 million loan from Sundial, this is interest only.
Do I have an EBITDA positive timeline? Well, I mean, I could give you a date and maybe I'd be right maybe I'd be wrong. I think what we've done is probably more powerful I’m giving you the math on what the impact would have been had we had lower distillate costs in the quarter.
It's a process from buying the distillate, having a raw materials, putting it into finished goods, and finished goods going through the supply chain out the door, and obviously hitting a shelf and then someone buying it.
And so we've gone from $0.05 to $0.035 to $0.04. We think we'll be substantially lower in Q2, probably somewhere between $0.015 and $0.02. So you can kind of do the math and tell me when you think we're going to be EBITDA positive.
Next question. when you look at edible sales slide, as progressed over the last months, help us understand how much of that is online in-store? How do you expect to be able lock down and drive store sales?
Thanks, David. Look, online is a pretty small part of the business. So in a province like Alberta, it's maybe only 2% of all the sales in terms of people ordering right from provincial wholesaler. In Ontario, it's about 10%. So 90% of all the transactions happen in-store. During the pandemic and during the lockdowns that might typically rise to about 15%. So it's -- let's say, that the small majority is of all sales are happening online.
So that I mean, look, I mean, I think that ties into the second part of the question, once the lockdown ends, I absolutely expect people to go back to stores and I would expect the percentage of online sales to drop accordingly. And I think it will grow the whole pie. I mean, this might sound odd to folks that are cannabis enthusiasts, but there's a lot of people that still don't want to buy cannabis with a credit card. They want to go to a store, and they want to pay cash and leave with their product. So I think that combined with hopefully, just a sense of relief, and people are socializing again outside of their home, whether it's concerts or movies or restaurants, I think that will help drive growth.
And then the last piece is education. So when people go to a store and speak with a budtender, and edibles is a bit of a different category, right? I mean, people have sort of -- I think on balance people have worse, I would say, worse stories about edibles that they've heard secondhand, and other cannabis products, maybe with the exception of some of the stuff that was happening with vapes a year or two ago, but that seems to have corrected itself.
So education is important. People don't know how many milligrams to take. They want to have some guidance on what to take and what to expect. And that's very, very tough to do, if not impossible to do online. And we can read as much as you want. But nothing replaces speaking with another human being that has experienced with edibles and can help guide somebody. So we're very bullish on the impact once doors are open again, and hopefully they stay open.
Next question was about previous revenue guidance of $30 million to $35 million for the year?
Yes, I mean, I think we try and stay away from giving specific numbers. But look, we did a little over $6 million of net revenue in Q1. If all we did was annualized that number, we'd be at $25 million versus $15 million in 2020. And certainly, we expect and we've actually put in our press release that we expect record revenue in Q2, meaning, we would be above the $7 million in net revenue that we reported in Q4. So I have no problems with that range. But I think we're going to sort of stay away from giving specific numerical guidance.
Next question, what factors are bringing the cost of distillate down? And will there be further fluctuations in the price in the future?
It's basically just too much supply. There's -- and we started from a very, very high price point. So I mean, if you look at mature markets, probably somewhere between half a penny and a $0.01 a milligram is the right range, probably closer to half a penny. We're not quite there yet in Canada, although, we're getting close.
And really, there's -- the best analogy I can give you is, think of it like a toll booth where you don't have to use that road and you don't have to go to that toll booth. So there's a number of extractors in the country, public and private that have started up operations in the last three or four years or five years. That list is still growing.
There's a lot of biomass in the country. There's probably too much supply and far too much supply of low potency flower, which is ideal for extraction. So too much supply of flower means that the extractors can buy cheaper and then ultimately, we're getting -- they're seeing price pressure, and we're benefiting from this price pressure and price competition. Most of these extractors that again in my analogy of the toll booth, the reason you would choose toll booth A over B, it's just because of price. Once you get down to a very pure distillate really is commodity like and it's not exactly a completely a commodity, but very close to it. And so when you bet too much supply, prices come down.
In the future I don't expect huge amount of fluctuation, I don't think anything's going to slow down, let's say, all the grow operations in Canada, I don't think -- I would find it highly doubtful that there's some kind of newfound discipline on the supply chain in Canada. So I would expect still to see a good amount of supply distillate in prices, well, under a $0.01 for the foreseeable future. That's on a per milligram basis.
Next question is bubble hash is going to be the only hash that we’ll be selling?
This is a good question. We're starting with that. We're about to ship some product to Quebec. And so keep your eyes peeled for that if you're in Quebec. It's a two gram of brick of bubble hash that we've processed and we're sending off to Quebec.
I think we're -- in the background, we're speaking with different processors about products they can offer, and looking at that category and the different subcategories within extracts to see where we can be competitive and what makes sense and what's missing.
So the best answer I can give you really is stay tuned. But certainly, that's an interesting area. When you look at mature markets, flower tends to be sort of between 40% and 60% of the total, and then vapes are kind of 10% to 15% along with edibles and pre-rolls and these are broad numbers because they do fluctuate. But concentrates is a growing and interesting part of the pie. So we're taking a look.
Next question is on edibles, being number one for edibles, are there regulatory or other changes that you'd like to see or lobby for?
Good question. I think, certainly, there's a section of our customer base that is very vocal that they need -- well, they want to call it cheaper edibles, but I think what they really mean is more potent edibles. So maybe more bang for your buck, no pun intended.
So look, certainly, we're pushing for that. We'll see how it goes. I would not be surprised if at some point you are, or were allowed to make and consumers allowed to buy edibles that have more than 10 milligrams per package. It is a little bit strange that we sell a 30 count capsules that contain over 200 milligrams in that bottle, but when it comes to gummies, you can't have more than 10 milligrams in a package. So, maybe that relates to consumer behavior, and people are more likely to eat multiple gummies rather than take five or 10 capsules. But edibles are never the cheapest way to consume cannabis in any market.
The flip side of that is that I've got lots of customers that tell me regularly that 5 milligrams is too much for them. So I think it proves, again, everybody's different. And when regulations change to allow us to add more potency, we'll absolutely do it. But I don't think that the all, I should say, all the existing SKUs that have been in market for less than a year will go away.
Look, I think $8 is a fantastic price point for our gummies. And I think the market share speaks for itself, I don't see any reason to change that. And in the event that potency goes up, we'll have another SKU that that represents that.
Sorry, I'm just making my way through these questions here.
Next one, interest on our side are Sundial is to operationalize their investment, they recently bought a large retailer at west and growing capabilities, curious whether this has been discussed to a better in store in Indiva place even on the cost side?
Anything that's currently being discussed, I'm not at liberty to mention or talk about here. But what I will say is that the investment itself really didn't come with any contractual obligations. But we're very pleased having Sundial as our largest shareholder. Again, there's nothing contractual in place as a result of them acquiring or announcing the acquisition at least have of Inner Spirit, which all lead I think it's 85 or 86 Spiritleaf stores in the country. But we're very pleased to see that.
I think it's great imagery for Indiva shareholders if our biggest investor is also the largest retailer in the country. So I guess stay tuned. And we have more to add on that, we'll let everybody know.
Has Quebec shown any interest in allowing edibles in the future?
Probably the short answer is no. I certainly haven't seen any correspondence where they said we want to have edibles. But I should back up. It's not that all edibles are strictly forbidden. Quebec is just made -- I mean for instance, beverages which are not exactly an edible, it is a beverage. But beverages are allowed in Quebec.
But the chocolates and the gummies that we make, the provincial government feels that those are too appealing to children. Obviously, my opinion is different, but I don't set the rules. So, we're hopeful that we'll be able to innovate and bring an edible product of some kind to Quebec. But I just can't tell you what that's going to change.
It's unfortunate because when we look at the edible category, it's -- in that earlier slide, it's getting close to 4.5%, 4% or 4.5% of the total. But if you back out Quebec, it would be more like 5.5% of the total. So I mean, that gives you some idea of how much incremental revenue we would be doing on a monthly basis, if Quebec were actually part of the pie. And certainly, we're hopeful that at some point, if there's no real data showing that children are being harmed or young people are not ending up in a hospital or having a bad impact from edibles, say think there'd be some logic. And hopefully, we'll be able to sell edibles there shortly.
Next question, are we manufacturing flower products for Legend?
No, that is a separate brand altogether. That has nothing to do with us.
Do you think the Sundial position would deter other strategic buyers from takeover offers?
I don't know. I don't know if that's necessarily the case. I mean, their ownership is at 18%. They would absolutely have a say one way or the other. I think realistically, if anybody were to knock on our door and provide us an offer that we would take to the board, because that's our job. Obviously, they would more than likely -- the suitor would more than likely want somehow locked up if that were to happen. So I don't know that it necessarily deters anyone. I mean, maybe if they had a 40% interest or 51% interest, it would. Yeah, I mean, my short answer is no, I don't think it would deter anybody.
How would the supply chain or how would the supply chain cope with new demand for products in Canada?
Yeah. I mean, we've got plenty of capacity. Right now our annual capacity is close to 13 million units of edibles. And going full circle to talk again, about the Sundial investment, we have some plans to increase the automation that we use at the facility, certainly won't result in any headcount reduction, might mean that people are working in different areas, rather than let's say packaging, et cetera.
But we think with a very reasonable investment, with a one year payback or less, we can more than double our capacity and increase our fill rate and also, what's the best way to describe this, increase our fill rate at -- without any errors. It's inevitable, you'll have a little bit of human error, when you're putting 1000s and 1000s of packages out the door every day, we're getting pretty darn close to producing and selling a million units a month.
So -- yeah, look, I mean, I think the investment that we'll do in our capacity will be very helpful, but I'm not worried at all that that we won't be able to keep up. The capacity that I'm describing, really is without pushing overtime or 24/7, this is really based on a five day workweek. So we've got plenty of room to fill the market.
Next question, when COVID comes to an end, and every runs to their cottages and camps. Sounds great. Will Indiva be able to keep up with increased demand?
Yeah. Again, absolutely, there's no, I don't see any risk that demand will outstrip our ability to supply. I guess that would be the best kind of problem to have, but I don't anticipate any issues there.
Okay. One more. Not asking for guidance, but what do you see as a potential market share ceiling? I keep expecting your market share to tick down as the market keeps grow with now almost 50% nationwide? How long do you think you can sustain that?
Well, the risk of Santa Monica Brad [ph] obviously we can't go above 100. I don't know is the honest answer. I -- to be honest, if we ticked up a little bit further from here and then stabilize these levels, I don't think anybody would complain. I don't think it was ever expectation that we would get to 60% or 70% market share and edibles. We will take it if we get there that would be wonderful. But look, I mean, we haven't seen anything yet that has slowed our market share down. We've saw -- we've seen a lot of new entrants into the category at price points above us, at price points below us. And we keep growing our share overall. And we keep growing our share in the gummy space.
Our chocolate share has been relatively flat. But I think that's partly because the chocolate market itself has been pretty flat. Maybe there's even a case to be made that all the new gummies out there have taken perhaps some of the incremental demand away from other subcategories and move them into gummies. But look, I don't see any reason why our share can't keep expanding. But we're also aware that when you have the number one position, you have a bit of a target on your back. And I think a lot of people are looking at the category and trying to enter it.
Our relationships are getting stronger with the provincial wholesalers in many ways. And as I said, our ranking in Ontario overall for April was nice, it's not say it will always stay there, it will fluctuate from month to month as the market changes and evolves. But we're in a very good spot where we might have a small market cap, and we might not have multiple facilities in multiple countries. That's pretty much by design. And we're very happy with the impact our products have had in the Canadian cannabis market.
A few more coming in here. Neil, you can stop me when we run out of time. I'll just keep going. Okay. Most of Indiva's competitors are trading large exchanges still looking up list. And what's the timeframe?
Yeah. Look, I think the short answer is yes, we are still looking to up list and hesitate to give you a timeframe, potentially this year, but maybe next. I think we just need to assess what the impact will be on our internal resources. It's probably worth noting, I mean, it's all public that we had a management cease trade order, because we're not in a position to file our financials by April 30. I think all the reasons for that have been well disclosed at one point I'd packing them again.
But uplisting to the TSX would shorten our reporting requirements to 90 days for your end and 45 days for the quarter. That's appealing just to be in the same reporting cycle as our peers for the most part. But we want to make sure that both internally and externally, we have all the resources in place to meet those deadlines. We don't want to go through the uncertainty that recall, sort of surrounded that MCTO again.
Question about our contracts transferable, if we merged with another LP or taken over?
Yeah. The short answer is they do survive any acquisitions.
Do you think the Always Available are meaningful positive to demand?
I think so. It's tough to quantify though. For those that are not aware Always Available. We have six SKUs listed as Always Available, three, gummies and three, chocolates. This is with the OCS this designation and this sort of special category. There are about 75 different products listed as Always Available 125 SKUs last I checked.
The reason for that is that let's say flour comes into 3.5 gram jars, 7 gram jars, 28 gram that would be one product in my mind that 3 SKUs. So we have six of the 125 SKUs. And they're six individual products. So I guess in a way, six of the 75 products are from Indiva, which is really great. Always Available essentially means that you can always get them. And whether you're a store or customer, they'll always be listed on the website.
So, I think, is it meaningful?
Yes.
But can we quantify it?
Not yet. I'm not sure that we know what the incremental demand was for those products. And again, I think the cross current of having store closures and lockdowns during COVID doesn't help. It's just very tough to discern what the trends are, when you've got stores that are open and closed. And I mean in Toronto, it feels like the stores been closed for six months. So maybe we'll have better data on that by your end.
Neil Lock
I think that's it, Niel, I think that's it. It was a great amount of questions and love the new slides. Like to get into more details. After the event, I'm going to look at those slides again. And I think that's it for the presentations. Did you want to add anything at this point?
Niel Marotta
No, I mean, look, I think we're constantly trying to provide a little bit extra disclosure to help people understand the story where it's frustrated with where our market cap sits, is anybody else on this call I assure you and we're just going to get back to working keep executing on the plan. We have got lots of growth baked in the cake with the bell publicly disclosed. We were expecting record revenue for Q2 and our gross margins to improve, so we'll just go and get back to work and make sure that happens.
Neil Lock
Well look forward to see you in the result over the next couple of months. Thanks for the presentation and everything was fantastic, and thank you again everybody for joining us, we will see you in a few months.
Niel Marotta
Okay. Thanks everyone. Feel free to reach out.
Neil Lock
Thank you.
Comments too: INDIVA REPORTS FIRST QUARTER FISCAL 2021 RESULTS
Indiva to Report First Quarter Results for Fiscal Year 2021 on Tuesday June 1st
Wed, May 26, 2021, 7:00 AM·2 min read
https://finance.yahoo.com/news/indiva-report-first-quarter-results-110000716.html
LONDON, Ontario , May 26, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, will report first quarter fiscal 2021 results on Tuesday June 1st.
CONFERENCE CALL - Tuesday, June 1, 2021 at 8:30 am EST:
The Company will host a conference call to discuss its results on Tuesday, June 1, 2021 at 8:30 am EST. Interested participants can join by dialing 416-764-8658 or 1-888-886-7786. The conference ID number is 13464934.
A recording of the conference call will be available for replay following the call. To access the recording please dial 416-764-8691 or 1-877-674-6060. The replay ID is 464934#. The recording will remain available until Wednesday, June 30th, 2021.
INVESTOR PRESENTATION – Tuesday, June 1st at 2pm EST (11am PST):
Niel Marotta, President & CEO will be hosting an online presentation for shareholders, analysts, investors, media representatives and other stakeholders on Tuesday, June 1st at 2pm EST (11am PST). A recording of the presentation and supporting materials will be made available on Indiva’s investor section on www.indiva.com. To register, RSVP to Anthony Simone at ir@indiva.com or 1-416-881-5154 or you can register online by using this URL: https://app.livestorm.co/lockconsulting/indiva-investor-presentation-tsxv-ndva.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Wana Quick, Ruby® Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
CONTACTS
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Interesting --->>> ARTISAN BATCH - MAY 12, 2021
Getting to know: KRFT Cannabis
Canadian communities across Canada have deep roots in the cannabis world—and no, that’s not just a play on words. Countless craft and microgrowers throughout the nation have spent years cultivating the best cannabis the country has to offer. Artisan Batch was created to bring these growers to the national stage—giving small batches big reputations.
KRFT Cannabis takes the pride of the east coast and infuses it into their product. Situated in George’s Brook, Newfoundland, KRFT has spent the last five years growing uniquely phenohunted strains with exceptional terpene profiles and high THC potential. They boast a rare genetic portfolio, making KRFT Cannabis unlike anything else Canadians have experienced.
KRFT Cannabis Cereal Milk Bud
“We aim to achieve a higher standard, continuous improvement, and innovation.”
Carefully handcrafted in Newfoundland, KRFT cannabis is “inspired by the bold, natural, and raw environment” of the province. Each strain is grown in KRFT’s 5,000 sq.ft low-carbon facility, specially designed to grow premium cannabis in small batches.
KRFT grows their plants hydroponically indoors, using Eazy Grow coco pyramids. They’re then hang dried and cold cured, burped every day for 21 days to let moisture and CO2 to escape the jars. From there, KRFT’s dedicated and passionate team hand trims each plant to keep the buds intact, stunning, and poised for consumers.
“We aim to achieve a higher standard, continuous improvement, and innovation,” says Master Grower Nick Langor. “Real KRFT cannabis.”
Because KRFT Cannabis is grown in a clean, sterile environment, following Good Production Practices and Standard Operating Procedures, there’s no need for antimicrobial treatment on their products.
KRFT Cereal Milk Consumer Jar
KRFT Cannabis Cereal Milk
One of the unique strains KRFT grows is Cereal Milk, which will be available through Artisan Batch. This rare and evenly balanced hybrid strain is a cross between Y Life (Cookies x Cherry Pie) and Snowman, a uniquely phenohunted strain.
Thanks to being carefully hand-trimmed, Cereal Milk has beautiful dark green and purple heart-shaped buds, dusted in sugary trichomes. The strain’s flavour profile reminds you of the fruity milk leftover after your morning bowl of breakfast cereal.
“This cultivar was uniquely selected by us and for good reason,” says Langor. “It is a truly incredible experience to grow and consume. We are proud to introduce Cereal Milk and many more in the future, setting the standard for ultra-premium KRFT Cannabis.”
Myrcene, limonene, and caryophyllene lend Cereal Milk creamy berry and fruity citrus flavours with hints of gassy notes. This strain features 20-26% THC and <1% CBD.
KRFT Cannabis Cereal Milk will be available in 3.5 g jars through Artisan Batch in the coming months, so make sure you keep an eye out in your area. Ask your local budtender about availability!
If you want to see more from KRFT Cannabis, you can visit their website at www.krft.ca, follow them on Twitter @KRFTCannabis, or on Instagram @krft.ca.
INDIVA REPORTS RECORD FOURTH QUARTER AND FISCAL YEAR 2020 RESULTS
Good News--->>>Indiva to Report Year End Results for Fiscal Year 2020 on Thursday May 13th
May 12, 2021 08:36 ET
Source: Indiva
LONDON, Ontario, May 12, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, will report fiscal 2020 year-end results after the close of markets on Thursday May 13th.
CONFERENCE CALL
The Company will host a conference call to discuss its results on Thursday, May 13, 2021 at 4:30 pm EST. Interested participants can join by dialing 416-764-8658 or 1-888-886-7786. The conference ID number is 96254765.
A recording of the conference call will be available for replay following the call. To access the recording please dial 416-764-8691 or 1-877-674-6060. The replay ID is 254765#. The recording will remain available until Thursday, June 3, 2021.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Wana Quick, Ruby® Jewels Chewable Tablets Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
CONTACTS
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Indiva Granted Management Cease Trade Order
Mon, May 3, 2021, 7:42 PM·5 min read
https://finance.yahoo.com/news/indiva-granted-management-cease-trade-234200154.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABvCM68MOGXbdMyc4oVruTHeDIdz3i4R_ZEWX3wol3B86zRhY0Z5sDIKZuCxx0Fi5xo_5WrHHW4j7tz897uoHMFiKagmG9z9FpHsl3p2yKOo2K2DDjSLEJb1ve7I92kb7My6MfjyBVp4bOaxWTec9zAaWGK6y25kTV21777K88J2
LONDON, ON, May 3, 2021 /CNW/ - Indiva Limited ("Indiva" or the "Company") (TSXV: NDVA) (OTCQX: NDVAF) announces that its principal regulator, the Ontario Securities Commission, has accepted the Company's application for, and has granted, a management cease trade order (the "MCTO"). As previously announced on April 23, 2021, the Company applied for the MCTO due to a delay in filing its annual audited financial statements for the year ended December 31, 2020, its related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the "Required Filings") which were due April 30, 2021.
The MCTO restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in the securities of the Company.
The Company's management is diligently working with its auditors to expedite the finalization and filing of the Required Filings. Indiva is not aware of any specific accounting or audit concerns at this time. Indiva anticipates that, with the benefit of additional time and likely no later than May 14, 2021, it will be in a position to complete the Required Filings, including receiving an unqualified audit opinion on the year-end financial statements. The Company will announce details regarding the announcement and release of financial results and the conference call timing in the coming days.
During the MCTO, the Company confirms that it will comply with the provisions of the alternative information guidelines as set out in the National Policy 12-203 – Management Cease Trade Orders, including issuing bi-weekly default status reports in the form of a news release, so long as it remains in default of the filing requirements set out above. The Company confirms that there is no material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release.
COVID-19
Government and private entities are still assessing the present and future effects of the COVID-19 pandemic. Indiva has continued to operate with enhanced health and safety protocols in place to protect its employees. The Company continues to assess the customer, supply chain, and staffing implications of COVID-19 and is committed to making continuous adjustments to minimize disruption and impact. Indiva will remain proactive in its response to the pandemic and compliant with any and all provincial and/or federal policies enacted to protect Canadians.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's ability to file the Required Filings in the time required, dependence upon regulatory approval, the failure of third parties to comply with their obligations to the Company or its affiliates, risks related to COVID-19, future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain and maintain the necessary regulatory and other third parties' approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company's products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Indiva Limited
CRUD--->>>Indiva May be Delayed in Filing Annual Audited Financial Statements
https://finance.yahoo.com/news/indiva-may-delayed-filing-annual-230000756.html
Indiva
Fri, April 23, 2021, 7:00 PM
4 min read
LONDON, Ontario, April 23, 2021 (GLOBE NEWSWIRE) -- Indiva Limited ("Indiva" or the "Company") (TSX-V: NDVA) (OTCQX: NDVAF) announced today that it may be delayed in filing its annual audited financial statements for the year ended December 31, 2020 and its related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the "Required Filings") by the prescribed filing deadline of April 30, 2021.
Although the Company and its auditors continue to work diligently toward completing the Required Filings by the filing deadline, the Company has made an application to the Ontario Securities Commission (the "OSC") for a management cease trade order ("MCTO"). If the Company has not made the Required Filings on or before April 30, 2021, the MCTO, if granted, would restrict all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company until the default is remedied. There is no guarantee that an MCTO will be granted. If the MCTO is not issued by the OSC, the applicable Canadian securities regulatory authorities could issue a general cease trade order against the Company for failure to file its annual audited financial statements within the prescribed time period.
The Company and its auditors have experienced certain delays in completing year-end accounting and auditing tasks under "work-from-home" mandates as a result of the ongoing COVID-19 pandemic. Indiva is not aware of any specific accounting or audit concerns at this time. Indiva anticipates that, with the potential benefit of additional time and likely no later than May 14, 2021, it will be in a position to complete the Required Filings, including receiving an unqualified audit opinion on the year-end financial statements.
The Company intends to comply with the provisions of the alternative information guidelines as set out in the National Policy 12-203 – Management Cease Trade Orders for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release.
About Indiva
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
For further information, please contact:
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's ability to file the Required Filings in the time required, dependence upon regulatory approval and the uncertainty of the OSC granting an MCTO, the failure of third parties to comply with their obligations to the Company or its affiliates, risks related to COVID-19, future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain and maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company’s products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
IMO, mgmt isn't too proud this month since it's been a month and 10 days since the last bragging PR.
https://www.indiva.com/press-releases/releases-2021/indiva-reports-record-market-share-for-february-2021/
Outstanding Shares
110,525,619
02/26/2021
INDIVA DOES NOT QUALIFY
GOOD:
LOW O/S
GOOD % GROWTH
BAD:
LOW PROFIT MARGIN
LOW REVENUE NUMBERS
CANNABIS STOCKS TOP 10
My criteria;
#1. I like to see at least 100M in annual sales.
#2. I like to see an outstanding share number of less than 300M.
#3. The stock must have momentum. Especially right now.
#4. On the way to EBITDA break-even, if not there yet.
#5. Maybe a turnaround story, or legit, right out of the box.
#6. Typically, will be focused on the U.S., not Canada.
#7. For now, will be marijuana only. No hemp.
1) TILT TLLTF HOLD ADD ON SALE
2) High Tide HITIF HOLD ADD ON SALE
3) Columbia Care CCHWF HOLD ADD
4) Harvest Health HRVSF HOLD ADD ON SALE
5) 4Front FFNTF HOLD ON SALE
The Charles Report
Outstanding Shares
110,525,619
02/26/2021
INDIVA DOES NOT QUALIFY
GOOD:
LOW O/S
GOOD % GROWTH
BAD:
LOW PROFIT MARGIN
LOW REVENUE NUMBERS
CANNABIS STOCKS TOP 10
My criteria;
#1. I like to see at least 100M in annual sales.
#2. I like to see an outstanding share number of less than 300M.
#3. The stock must have momentum. Especially right now.
#4. On the way to EBITDA break-even, if not there yet.
#5. Maybe a turnaround story, or legit, right out of the box.
#6. Typically, will be focused on the U.S., not Canada.
#7. For now, will be marijuana only. No hemp.
1) TILT TLLTF HOLD ADD ON SALE
2) High Tide HITIF HOLD ADD ON SALE
3) Columbia Care CCHWF HOLD ADD
4) Harvest Health HRVSF HOLD ADD ON SALE
5) 4Front FFNTF HOLD ON SALE
The Charles Report is going to dive into one of the better performing Cannabis stocks since the "Reddit Rush."
Indiva ruling edibles! --->>> Ontario’s legal weed market share climbs to 40%, OCS says
Ontario led all provinces in Q4 with $251 million in legal weed sales, according to the OCS's latest quarterly report
By: Jared Gnam
March 8, 2021
Check out Indiva's the full line of products here: https://www.indiva.com/products/
Does Indiva only make edibles?
Really good news for Indiva coming from another company --->>> Good for The Valens Company - From November to December 2020, the edibles & concentrates product categories grew nearly twice as fast as the overall market despite consumers having a constrained selection in these products.
For more insights sign up for our investor newsletter: https://bit.ly/3mYck2Y
3:22 PM · Mar 11, 2021·Sprout Social
From November to December 2020, the edibles & concentrates product categories grew nearly twice as fast as the overall market despite consumers having a constrained selection in these products.
— The Valens Company (@TheValensCo) March 11, 2021
For more insights sign up for our investor newsletter: https://t.co/f3InWvmwlZ pic.twitter.com/V00E7ao4x2
Yeah, if it is market share of the edible market, that's nice. When/if they get their poop in a group over mg and total limits, it will be a decent share of the whole market. And that is when things gets nice-nice.
I am pretty amazed at the market share INDIVA edibles are capturing.
Whenever they are finally allowed to upgrade THC content to 10mg like in the USA, then IMO edibles will cut deeply into flower sales.
Many don't want to smoke or vape. Edibles are discrete.
If edibles ever get the training wheels taken off, they will do some significant numbers. This I believe to be true. The limits Canada is dealing with is comical but I am not laughing.
Thanks excellent DD.
Canadian lobbiest need to be loading up Congress with cash to keep the door open.
1st of all, welcome to the board fink.
You may not know; Indiva has the Canadian and global distribution rights except for USA where the brand started. They pay royalties to the USA company.
I don't anticipate the USA allowing imports.
I don't anticipate without national THC recreational legalization that interstate commerce will be permissible.
I am definitely holding long term. Besides, I would anticipate someone wanting to buy them out by the time they are posting $10M - $15M quarterly revenues and pushing money to the bottom line. There aren't many accretive acquisition candidates in canadian cannabis.
Might be a good one to hold.
Gummies are it. Who wants to smoke that chit. It reeks.
Canadian supply has Canadian demand covered, so market share is king.
My biggest question. When America goes to pot, will it allow product to cross its boarders?
Or do American pot lobbyist keep Mexican and Canadian product out?
Will States allow interstate commerce?
Texas and Fla alone will consume all American pot supplies in a snap.
I only want to invest in edibles.
Smoking and vaping is nasty
INDIVA REPORTS RECORD MARKET SHARE FOR FEBRUARY 2021
They're thinking about making people think they are bigger than they are now.
Interesting, what fo you think they are up to
Indiva Engages Independent Trading Group as Market-Maker and Investor Relations and Marketing Firm
https://www.globenewswire.com/news-release/2021/03/05/2188221/0/en/Indiva-Engages-Independent-Trading-Group-as-Market-Maker-and-Investor-Relations-and-Marketing-Firm.html
March 05, 2021 17:12 ET
LONDON, Ontario, March 05, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, today announced that it has engaged the services of Independent Trading Group Inc. ("ITG") as market-maker for its common shares on the TSX Venture Exchange and Stonegate Capital Partner ("Stonegate"), to lead a new investor communications and outreach program.
Market Maker
Under the terms of the agreement, the Company has engaged ITG for a period of three (3) months and the agreement will renew for subsequent one (1) month periods, until either party has terminated the agreement with thirty (30) days' notice. The Company will pay ITG a monthly fee of $5,000 for market making services. At the time of this agreement, neither ITG nor its principals have any direct or indirect interest in Company securities. The engagement of ITG remains subject to the approval of the TSX Venture Exchange.
ITG is Canada's only brokerage firm dedicated specifically to professional trading. As Canada's foremost Market Making Firm, ITG provides Market Making and Liquidity Provider services that are objective and focused. ITG employs real traders and provides real liquidity, with an underlying emphasis on integrity and success. ITG was established by a group of Toronto Floor Traders in 1992 with the intent of developing a business where Market Makers could conduct business in a professional manner without conflict or compromise.
Investor Relations and Marketing Contract
The Company has engaged Stonegate, a Dallas-based firm, to lead a new investor communications and outreach program. Under the terms of the agreement, the Company has engaged Stonegate for one (1) month and the agreement will renew for subsequent one (1) month periods, until either party has terminated the agreement with ten (10) days' notice. The Company has agreed to pay Stonegate US$3,000 per month for an initial term and any renewal term. Stonegate will work closely with the Company's management to refine and deliver the company's message and assist with outreach to investors. Stonegate is a privately held firm that aims to help companies like Indiva enhance its shareholder value by delivering the right message to the right audience, and building high quality, long-term relationships in the investment community. Stonegate will also publish a research report on the Company. Stonegate is a leading advisory firm founded in 1972. The Company specializes in capital markets advisory with a focus on institutional investor outreach for publicly traded companies. Additional information can be found at www.stonegateinc.com. To the Company's knowledge, Stonegate does not have any direct interest in the Company or its securities. The engagement of ITG remains subject to the approval of the TSX Venture Exchange.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
CONTACTS
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company’s products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Indiva Ships Wana Quick Gummies
https://finance.yahoo.com/news/indiva-ships-wana-quick-gummies-133000266.html
Thu, March 4, 2021, 8:30 AM·5 min read
Product to Hit Canadian Shelves in March 2021
LONDON, Ontario, March 04, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, is taking a bite out of the cannabis edible market with the launch of Wana Quick gummies (“Wana Quick”).
Produced in Canada by the same team that launched Wana Sour Gummies, the best-selling edible in the country, Indiva is now poised to launch three new Wana Quick flavours nationally in March 2021. The product will be available in Orchard Peach sativa, Pineapple Coconut indica and Strawberry Lime 1:1 hybrid. All Wana Quick gummies contain 10 mg of THC per package and are enhanced with over 30 terpenes to create an entourage effect for a greater experience.
Wana Quick gummies are made with pectin, not gelatin, which not only gives the gummies a great texture, but also makes them vegan and gluten-free. All gummies are handcrafted using a recipe intended to reduce melting.
“We couldn’t be more excited to present our new, terpene-enhanced cannabis gummies with all the great taste that Canadians have come to expect from Wana. Indiva has become synonymous with innovation, and Wana Quick gummies are a revolutionary product that really delivers,” said Leah Thiel, Marketing Director, Indiva.
Wana Quick uses a technology called Azuca TiME Infusion™, a patent-pending culinary innovation.
“We’re proud of the positive response we’ve received to Wana Sour Gummies across Canada and look forward to continuing to bring new and innovative products into the space,” added Thiel. “By putting Canadians’ desires first, we’re finding new ways to surprise and delight consumers with extraordinary cannabis experiences.”
The launch of Wana Quick comes on the heels of Wana Sour Gummies’ recognition from budtenders, receiving kind Magazine’s kind Award for 2020 Best Edible of the Year.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
CONTACTS
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
ABOUT WANA BRANDS
Included in the 2020 Inc. 5000 list at #2,074 and boasting a three-year growth rate of 203%, Wana Brands is the No. 1 edibles brand in North America. Wana™ leads the Canadian industry in providing a range of different options that enable customers to create the specific cannabis experience they want. Wana products offer diverse product forms, four different CBD/THC ratios as well as a variety of different dosages. The portfolio is designed so products can be used singly or in combination to address specific recreational preferences. Wana Brands is available internationally in Canada through Indiva Inc. Follow Wana™ Canada on Instagram.
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company’s products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Indiva Announces Appointment of New Director and Option Grant
https://www.globenewswire.com/news-release/2021/03/01/2184084/0/en/Indiva-Announces-Appointment-of-New-Director-and-Option-Grant.html
March 01, 2021 07:00 ET
LONDON, March 01, 2021 (GLOBE NEWSWIRE) -- Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, is pleased to announce that Mr. Russell Wilson has been appointed to the board of directors of the Company.
“We are very pleased to have Mr. Wilson join our board of directors. Mr. Wilson’s experience with several public company boards will provide an additional layer of oversight and governance, and his involvement in the cannabis sector will prove invaluable with respect to Indiva’s strategy going forward,” said Niel Marotta, Chief Executive Officer of Indiva Limited.
Mr. Wilson is Vice President, Business Development with W. Brett Wilson’s holding company Prairie Merchant Corporation ("PMC"), a private investment company based in Calgary, Alberta. Mr. Wilson has worked with PMC since the fall of 2016 where he manages PMC’s portfolio of cannabis and technology holdings, as well as participation in the company’s extensive and diversified holdings in real estate, power/energy, sports and agriculture. Mr. Wilson splits his time between Brisbane, Australia and Calgary, Alberta. Mr. Wilson also sits on the Board of Inner Spirit Holdings Ltd., a Canadian company that has established a national network of SpiritLeaf cannabis retail stores. This could be significant. SpritLeaf is a 40+ store chain. But Mr. Wilson also sounds like a "serial-board-member". - FUNMAN
Additionally, the Company announces that its board of directors has approved a grant of options for 150,000 common shares (the "Options") to Mr. Wilson in his role as director of the Company pursuant to the Company's stock option plan. The Options have an exercise price of $0.59 per share and a term of 5 years. 50,000 Options vest immediately, 50,000 Options vest on the 12-month anniversary of the grant date and 50,000 Options vest on the 24-month anniversary of the grant date. The grant of the Options is subject to the approval of the TSX Venture Exchange.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
CONTACTS
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties’ approvals and licensing and other risks associated with regulated entities in the cannabis industry, future sales, the demand for the Company’s products and cannabis products generally and the continued operations of the Company in the ordinary course. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
'tooltimetim ', welcome to the board. - FUNMAN
If gloating makes you feel good, fine. Just know it is not really a good look. Personally, I am all for others to do well, but that is just how I roll. I doubled my money and got out. I’ll be fine.
Does what feel good, wanting my investment to keep going up, instead of retracing. Then yup, feels Great
Did that feel good tool? I don't know what you were going for, so let me know if I am supposed to feel mad, sad or glad. I am doing just fine, but if you need me to change my attitude to suit you, that is what I am here for tool.
How's this working out for ya lmao, to the moooooooon
Sundial and Indiva Announce Closing of $22 Million Strategic Investment
Brokered Private Placement Offering of $11,000,000 and $11,000,000 Term Loan Facility
CALGARY, Alberta and LONDON, Ontario, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Sundial Growers Inc. ("Sundial") (NASDAQ: SNDL), a Canadian licensed producer of recreational cannabis and Indiva Limited (“Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), a leading Canadian producer of cannabis edibles, are pleased to announce the closing of the previously announced $22,000,000 strategic investment (the “Investment”) into Indiva by Sundial.
The Investment was completed by way of a brokered private placement (the "Placement") led by ATB Capital Markets Inc. ("ATB" or the "Agent") of 25,000,000 common shares of Indiva (the "Common Shares") at a price of $0.44 per Common Share, raising gross proceeds of $11,000,000 (the "Equity Investment"), and a secured non-revolving term loan facility to Indiva in the principal amount of $11,000,000 (the "Term Loan"). Sundial was the sole subscriber in the Placement and sole lender of the Term Loan.
The Term Loan matures on February 23, 2024 (the "Maturity Date") and bears an interest rate of 9% per annum. 50% of accrued interest is payable in cash on the last day of each month and the remaining 50% of accrued interest is payable, at the option of Indiva, (i) in cash on the last day of each month, or (ii) payable in arrears on the Maturity Date. The Term Loan was issued at an original issue discount of 4% and provides that upon a change of control of Indiva, Sundial shall have the option exercisable within 60 days to require Indiva to prepay 104% of the outstanding principal amount of the Term Loan and all accrued and unpaid interest.
Pursuant to the Investment, Sundial and Indiva entered into an investor rights agreement (the "IRA") whereby Sundial was granted the right to participate in future equity financings to maintain its pro-rata ownership in Indiva and registration rights, subject to customary limits and exceptions. In addition, the IRA provides that in the event Indiva completes a further offering of securities, which contain warrants, in the ninety (90) days following the closing of the Investment (a "Further Offering"), it shall issue to Sundial, for no additional consideration, and on the terms of such warrants offered in the Further Offering, such number of warrants equal to the number of warrants Sundial would have received had the Equity Investment been made in the Further Offering (the "Conditional Warrants"). Any issuance of Conditional Warrants is subject to the prior approval of the TSX Venture Exchange (the "TSXV") and if issued, will contain a provision preventing their exercise if, following such exercise, Sundial or its affiliates would hold greater than 19.9% of the issued and outstanding Common Shares and have a maximum term of five (5) years.
Indiva intends to use the net proceeds of the Investment to retire its outstanding debt in full, which includes its demand loan and promissory note, as well as for working capital and other general corporate purposes.
The Investment is subject to the final approval of the TSXV. The Common Shares issued under the Placement will be subject to a statutory hold period of four months and one day following the closing of the Placement.
Pursuant to the Investment, Indiva paid to ATB: (a) a cash commission equal to $330,000 being 3.0% of the aggregate gross proceeds from the Placement; and (b) a financial advisory fee of $220,000, being 2.0% of the principal amount of the Term Loan.
Early Warning
Immediately prior to the Placement, Sundial and its affiliates held no Common Shares. Upon the closing of the Placement Sundial and its affiliates exercise control and direction over 18.45% of the issued and outstanding Common Shares. Sundial and its affiliates do not currently own any convertible securities of Indiva. The Common Shares are being acquired for investment purposes and, as of the date of this news release, Sundial and its affiliates have no current intention to acquire control or direction over additional securities of Indiva above 19.9% of the issued and outstanding Common Shares, either alone or together with any joint actors.
The securities to be offered pursuant to the Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT SUNDIAL GROWERS INC.
Sundial is a public company with common shares traded on Nasdaq under the symbol "SNDL”. Sundial is a licensed producer that crafts cannabis using state-of-the-art indoor facilities. Our ‘craft-at-scale modular growing approach, award-winning genetics and experienced master growers set us apart. Our Canadian operations cultivate small-batch cannabis using an individualized “room” approach, with 448,000 square feet of total space. Sundial’s brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands. Our consumer-packaged goods experience enables us to not just grow quality cannabis, but also to create exceptional consumer and customer experiences. We are proudly Albertan, headquartered in Calgary, AB, with operations in Olds, AB, and Rocky View County, AB. For more information on Sundial, please go to www.sndlgroup.com.
For more information:
Sophie Pilon, Corporate Communications
Sundial Growers Inc.
O: 1.587.327.2017
E: spilon@sundialgrowers.com
ABOUT INDIVA LIMITED
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
For more information:
INVESTOR CONTACT
Anthony Simone
Phone: 416-881-5154
Email: ir@indiva.com
DISCLAIMER AND READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the receipt of regulatory approval and third party consents, the ability of Indiva to satisfy its existing debt obligations with the proceeds of the Placement and Term Loan, use of proceeds and other risks associated with regulated entities in the cannabis industry.
The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
4 Reasons Why The Cannabis Industry Has Become So Profitable
By: Green Market Report
February 19, 2021
CANADA’S PREFERENCE FOR CANNABIS 2.0 PRODUCTS INCREASES
February 18, 2021 2min read
Cannabis Edibles Are Quickly Outpacing Vapes As A Top Consumer Product For 2021
EDITORIAL Feb 19, 2021 • 7:18 AM EST
2 MIN READ • BY MICHAEL BERGER
CANNABIS STOCKS TOP 10
02/18/2021
My criteria;
#1. I like to see at least 100M in annual sales.
#2. I like to see an outstanding share number of less than 300M.
#3. The stock must have momentum. Especially right now.
#4. The company should be on the way to EBITDA break-even, if not there yet.
#5. Maybe a turnaround story, or legit, right out of the box.
#6. Typically will be focused on the U.S., not Canada.
#7. For now, will be marijuana only. No hemp.
1) High Tide HITIF HOLD ADD
2) Harvest Health HRVSF HOLD ADD
3) Columbia Care CCHWF ADD!!
4) CRESCO CRLBF HOLD ADD
5) Verano VRNO:CA
6) AYR Resources AYRWF SOLD
7) Green Thumb GTBIF SOLD
8) TILT TLLTF BOUGHT
9) HOLLISTER HSTRF BOUGHT
10) HEXO HEXO SOLD
11) Schwazze SHWZ NO POSITION
12) Jushi JUSHF SOLD
13) 4Front FFNTF HOLD ADD
14) GrowGeneration GRWG NO POSITION
15) Trulieve TCNNF NO POSITION
16) Curaleaf CURLF SOLD
17) TILRAY TLRY SOLD
18) TerrAscend TRSSF NO POSITION
19) TPCO Holding Inc GRAMF SOLD
20) Planet 13 PLNHF NO POSITION
Welcome to “Stock Market Investing!”
www.meetup.com
We get together on ZOOM, every other Saturday at 5:00pm.
https://www.meetup.com/stock-market-investing/events/rwhkdsycccbfc/
Cannabis Investment Club
https://investorshub.advfn.com/Cannabis-Investment-Club-33161/
JohnCM Investment Corner
https://investorshub.advfn.com/JohnCM-Investment-Corner-37729/
My Stock Investment Newsletter.
https://docs.google.com/document/d/1e37ezUfDkZ7TSiEwRStGnoYqGSzWXskkMfcpMg-9KVo/edit?usp=sharing
JohnCM
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