Medical Marijuana, Cannabis, & Hemp News

Medical Marijuana, Cannabis, & Hemp News






MMJObserver | Medical Marijuana, Cannabis, & Hemp Newshttp://ftr.fivefilters.org/makefulltextfeed.php?url=https%3A%2F%2Fwww.mmjobserver.com%2Ffeed%2F&max=5


Time to load up on Square Inc (NYSE:SQ)https://www.mmjobserver.com/time-to-load-up-on-square-inc-nysesq/34025/
https://www.mmjobserver.com/?p=34025
<div><img src=”https://www.mmjobserver.com/wp-content/uploads/2020/02/mmjobserver-logo.jpg” class=”ff-og-image-inserted”></div><p>The tech stocks sold off due to rising rate fears. However, U.S. stock futures rose sharply in early morning trading on Monday, as Treasury yields retreated from their highs from last week, easing concerns about inflation and that higher rates would undermine equity valuations. Investors have a “rare” opportunity to buy the dip here, according to Mizuho analyst Dan Dolev.</p>
<p>The mobile payment company is coming off mixed fourth-quarter results earlier this week where the company revealed it purchased $170 billion worth of Bitcoin.</p>
<p>Shares finished the week down almost 17% but Dolev believes Square is in good shape for the long run.</p>
<p>The company’s bitcoin-enabled Cash App is “holding up well” and should continue to see growth after some recent deceleration, he wrote. The app allows users to transfer money via a mobile phone app.</p>
<p>“We see overall Seller &amp; Cash App gross profit accelerating in 1Q21,” he said.</p>
<p>And according to Dolev, the company’s products are “highly levered” to any government stimulus if more should transpire as is expected.</p>
<p>“Following the stimulus in March 2020, Cash App gross profit growth accelerated,” Dolev said.</p>
<p>The firm also has a Street high price target of $380 per share and even though the stock sold off this week, Square’s momentum remains firmly well-positioned, he said.</p>
<p>Source: https://www.cnbc.com/</p>
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<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Mon, 01 Mar 2021 14:02:02 +0000 Steven Russell
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https://www.mmjobserver.com/time-to-load-up-on-square-inc-nysesq/34025/
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NYSE:SQ
SQ
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Why ISW Holdings Inc (OTCMKTS:ISWH) Could be the Next Crypto Stock Starhttps://www.mmjobserver.com/why-isw-holdings-inc-otcmktsiswh-could-be-the-next-crypto-stock-star/34005/
https://www.mmjobserver.com/?p=34005
<div><img src=”https://www.mmjobserver.com/wp-content/uploads/2020/12/Bitcoin2.jpg” class=”ff-og-image-inserted”></div><p>As we move inexorably toward 2021, there are several themes that should strike the diligent eye of the astute investor: money creation, central bank activism, the discovery of the “fiscal channel” in policy operations, and the coming impact of covid-19 vaccines.</p>
<p>Wrapped in all of these conceptual narratives is Bitcoin, with its newfound sheen of legitimacy following moves by major payment platforms (the key to this puzzle) to invest in the digital currency. As a result, the crypto space has been on fire from any reasonable perspective.</p>
<p>But there are very few small and micro-cap investment plays available to the quote-unquote “normal” investor. The point: while Bitcoin has doubled over the past couple months, market participants are sure to be searching for instruments that can offer them much bigger returns over the near term on a proxy basis relative to the coin.</p>
<p>That’s why we are taking a closer look today at ISW Holdings Inc (OTCMKTS:ISWH), a company that has strong momentum in two major growth trends and has now established a strong anti-dilution program that deserves a close look.</p>
<p>The key here is that ISWH has laid down a recent track record of success in its telehealth and home healthcare segment and is verging on a breakout in commercial-stage operations for its cryptocurrency mining segment, producing what may be a major topline growth story now and throughout 2021.</p>

<p><strong>The Real Meal Deal</strong></p>
<p>ISW Holdings Inc (OTCMKTS:ISWH) isn’t a pretender in the Crypto space.</p>
<p>The company has made a significant investment in developing the Proceso Pod5ive datacenter pod, which is capable of driving Megawatt-level cryptocurrency computational mining power, has been fully assembled and is now ready for shipment to the 100 MW renewable energy Bit5ive LLC cryptocurrency mining project based in Pennsylvania.</p>
<p>“The job now is about bringing in revenues from participation in the Bit5ive Pennsylvania project while simultaneously building a track record for the Proceso, Pod5ive Data Center Pods as a global best-in-class solution for mining facilities around the world,” remarked Alonzo Pierce, President and Chairman of ISW Holdings.</p>
<p>“We have begun sourcing partnerships in this endeavor, and we feel our technology division has an extremely bright future ahead in step with the growing success of Bitcoin and the broader cryptocurrency space.”</p>
<p>While it apparently has an industry leading Power Usage Effectiveness (“PUE”) score of 1.06, and while Bitcoin has thundered higher, ISWH is still a micro-cap trading on the OTC, which means it will take work to drive it into the slipstream of the current bull market’s energy. OTC stocks don’t get “the benefit of the doubt”. They have to earn it.</p>
<p>But ISWH may be on that track.</p>

<p><strong>Shoring Up the Sheet</strong></p>
<p>But there’s another important dimension to note: as we approach that key moment where the company’s “pod5” crypto mining solution goes live and starts churning out mining revenues and then starts to attract interest as a product in the mining equipment space, the company has also recently taken another big step: streamlining its capital structure by curtailing dilution risk, canceling debt, and reducing outstanding shares by a substantial margin.</p>
<p>To wit, in ISWH’s most recent release: the company announced that it and its largest noteholders have reached an agreement whereby about 50% of the current convertible debt owed by the Company will be exchanged for restricted preferred equity, eliminating a significant portion of the dilution potential from convertible debentures now carried in the Company’s books.</p>
<p>According to the release, the Company and its largest noteholder have agreed to exchange convertible debentures (principal and interest) with an aggregate value of $602K for restricted Preferred B equity, thereby reducing total debt and significantly curtailing dilution potential over the coming months and years.</p>
<p>“The Preferred B Shares will be restricted for a period of one year,” said Pierce. “After one year, the Preferred B Shares can only be converted at a maximum 12.5% per quarter of the original common share issuance (a total of 4.5 million common shares). So basically, no more than 562,500 common shares will hit the market in any given quarter.”</p>

<p><em>This article is part of JournalTranscript.com Networks. Read the JournalTranscript.com Networks&nbsp;<a href=”https://www.journaltranscript.com/disclaimer/” target=”_blank” rel=”noopener noreferrer”>Disclaimer</a>.</em></p>
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<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Wed, 16 Dec 2020 10:35:24 +0000 Kyle Cummings
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https://www.mmjobserver.com/why-isw-holdings-inc-otcmktsiswh-could-be-the-next-crypto-stock-star/34005/
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Why Digital Marketing is the Heart of the Bull Market (CRM, DOX, GEGR, TTD)https://www.mmjobserver.com/why-digital-marketing-is-the-heart-of-the-bull-market-crm-dox-gegr-ttd/34000/
https://www.mmjobserver.com/?p=34000
<div><img src=”https://www.mmjobserver.com/wp-content/uploads/2020/07/gooseEgg.jpg” class=”ff-og-image-inserted”></div><p>The stock market has been in “Full Bull” mode for the better part of the past decade. But no phase of that run has been as aggressive as we have seen in recent weeks when it comes to investor enthusiasm, especially when considers options market activity. Call option bets from retail market participants have started to verge on all-time records as the retail audience asserts itself perhaps for the first time since the late 1990’s.</p>
<p>And one of the key ideas driving that strength is how new technologies are transforming old industries, with marketing and advertising sitting near the center of that narrative.</p>
<p>While you may not have noticed it, digital marketing and advertising stocks have been lighting up the scoreboard, offering brands increasing value as companies search for new and innovative ways to engage with end market consumers.</p>
<p>With that in mind, we take a look at some of the most compelling opportunities in the space, including: Amdocs Limited (NASDAQ:DOX), salesforce.com inc (NYSE:CRM), Gaensel Energy Group (OTMKTS:GEGR), and Trade Desk Inc (NASDAQ:TTD).</p>

<p><strong>Amdocs Limited (NASDAQ:DOX)</strong> bills itself as a company that partners with the leading players in the communications and media industry, enabling next-generation experiences in 85 countries.</p>
<p>Its cloud-native, open, and dynamic portfolio of digital solutions, platforms and services brings greater choice, faster time-to-market, and more flexibility to better meet the evolving needs of our customers as they drive growth, transform and take their business to the cloud. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.2 billion in fiscal 2020.</p>
<p>Amdocs Limited (NASDAQ:DOX) announced that Vodafone Romania and Amdocs partnered to jointly develop the Digital Experience platform for digitalizing the retail experience. This will give Vodafone Romania a 360-degree view of its customers across a number of touchpoints while integrating fixed and mobile communication products into a converged retail product. The project included moving several key components and capabilities into the AWS cloud.</p>
<p>The project is a key milestone in Vodafone Romania’s journey towards a technology communications company where strong internal software engineering capabilities enabled a new partnership model with Amdocs. Through the digital transformation of its retail experience, Vodafone Romania can now better understand its customers’ journeys by leveraging smart systems to interact with its customers in a more focused, tailored and effective way.</p>
<p>Even in light of this news, DOX hasn’t really done much of anything over the past week, with shares logging no net movement over that period. Shares of the stock have powered higher over the past month, rallying roughly 5% in that time on strong overall action.</p>
<p>Amdocs Limited (NASDAQ:DOX) generated sales of $1.1B, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 2.7% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($983.9M against $1.2B, respectively).</p>

<p><strong>salesforce.com inc (NYSE:CRM)</strong> trumpets itself as a company that develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.</p>
<p>It also provides Service Cloud, which enables companies to deliver personalized customer service and support, as well as a field service solution that enables companies to connect agents, dispatchers, and mobile employees through a centralized platform, which helps to schedule and dispatch work, and track and manage jobs in real-time. In addition, the company offers Marketing Cloud to plan, personalize, and optimize one-to-one customer marketing interactions; Commerce Cloud, which enables companies to enhance engagement, conversion, revenue, and loyalty from their customers; and Community Cloud that enables companies to create and manage branded digital destinations for customers, partners, and employees.</p>
<p>salesforce.com inc (NYSE:CRM) most recently announced that it has collaborated with Gavi, the Vaccine Alliance, to help Gavi manage critical information to equitably distribute approximately two billion COVID-19 vaccines to 190 countries by the end of 2021.</p>
<p>According to the release, fair, rapid and equitable access to vaccines is critical to ending the global pandemic. Public-private partnerships, such as Gavi, which are focused on getting vaccines to some of the world’s poorest countries, need to be armed with data and technology to facilitate distribution at scale. The ability to manage huge volumes of country data is essential.</p>
<p>Even in light of this news, CRM has had a rough past week of trading action, with shares sinking something like -3% in that time. That said, chart support is nearby, and we may be in the process of constructing a nice setup for some movement back the other way.</p>
<p>salesforce.com inc (NYSE:CRM) pulled in sales of $5.4B in its last reported quarterly financials, representing top line growth of 20.1%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($9.5B against $12.2B, respectively).</p>

<p><strong>Gaensel Energy Group (OTMKTS:GEGR)</strong> us an interesting name in the space because of its cheap price and recent powerful transition toward a new holding company model pursuing a diversified model with growing strategic interests in the Energy, Manufacturing, Software, and Technology markets.</p>
<p>The company has recently been rolling up properties toward the establishment of a market leading framework in the digital marketing, technology, and advertising space. Its recent moves suggest the potential to make serious waves in the industry, with ties to top global firms and a vision that includes the establishment of a cross-Atlantic powerhouse market position.</p>
<p>Gaensel Energy Group (OTMKTS:GEGR) recently announced the acquisition of Suite 110 SRL, providing dynamic solutions for Small and Medium Enterprises (SMEs), with annual revenues in excess of $8,000,000 USD.</p>
<p>According to the release, Suite 110 SRL that provides an all-in-one CRM management, sales and marketing system, encrypted cloud storage for secure documents, project management, invoicing and accounting, warehouse, logistics and inventory optimization, connectivity for multi-bank and cash management, and a number of other features that provide businesses with a platform that streamlines operations in one secure platform.</p>
<p>The company’s founder and Director Helmut Gaensel stated, “This is one of a number of active acquisition targets we have and continue to be negotiating and today we are pleased to have finalized the acquisition of this additional Company. Our management team has identified a number of companies and Intellectual Property ripe for acquisition and expansion as a result of the pandemic.”</p>
<p>This dovetails with another acquisition that appears to be in the works with a company that has clients spanning the highest orders of the blue-chip ranks. As such, it isn’t surprising that the stock has been acting well over recent days, up something like 8% in that time. Shares of the stock have powered higher over the past month, rallying roughly 7% in that time on strong overall action.</p>
<p>Gaensel Energy Group (OTMKTS:GEGR) had no reported sales in its last quarterly financial data. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($455 against $463K, respectively).</p>

<p><strong>Trade Desk Inc (NASDAQ:TTD)</strong> is a cloud-based advertising-buying platform. Ad buyers can value each impression like traders value stocks, using first and third party data to decide which impression to buy and how much to pay. Its platform enables advertising clients to purchase and manage digital advertising campaigns across various formats, including connected TV (CTV), mobile, video, audio, display, social and native, on a multitude of devices, including smart TVs, computers, and mobile devices.</p>
<p>As the company frames itself, it provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company’s platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets. It serves advertising agencies and other service providers for advertisers.</p>
<p>Trade Desk Inc (NASDAQ:TTD) recently announced that Nielsen (NYSE:NLSN) is supporting the industry-wide initiative to develop and deploy Unified ID 2.0.</p>
<p>According to the release, with initial development led by The Trade Desk, Unified ID 2.0 is a new industry-wide approach to internet identity that preserves the value of relevant advertising, while putting user control and privacy at the forefront. The ID is an upgrade and an alternative to third-party cookies.</p>
<p>Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week.</p>
<p>Trade Desk Inc (NASDAQ:TTD) pulled in sales of $216.1M in its last reported quarterly financials, representing top line growth of 31.6%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($557.3M against $1B, respectively).</p>

<p><em>This article is part of JournalTranscript.com Networks. Read the JournalTranscript.com Networks&nbsp;<a href=”https://www.journaltranscript.com/disclaimer/” target=”_blank” rel=”noopener noreferrer”>Disclaimer</a>.</em></p>
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<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Wed, 16 Dec 2020 07:58:40 +0000 Kyle Cummings
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https://www.mmjobserver.com/why-digital-marketing-is-the-heart-of-the-bull-market-crm-dox-gegr-ttd/34000/
Business
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Published at

Buying Marijuana Stocks In April? 2 For Your 2021 Pot Stock Watchlist

Buying Marijuana Stocks In April? 2 For Your 2021 Pot Stock Watchlist




Buying Marijuana Stocks In April? 2 For Your 2021 Pot Stock Watchlist | Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™

























Published at Sun, 04 Apr 2021 14:16:55 +0000

This Is What You Need To Know About New York Recreational Cannabis

This Is What You Need To Know About New York Recreational Cannabis

The US cannabis industry received a big boost after New York Governor Andrew Cuomo signed a bill to legalize recreational cannabis for adults that are over the age of 21. The signing of the legislation comes quickly after New York’s Senate and Assembly voted to approve it.

One of the impacts the legislation will have is related to expunging previous cannabis convictions for actions that would be legal under the new bill. The legislation also creates licenses for producers and distributors, and we are bullish on the growth prospects that are associated with the New York market.

The legislation allows for consumers to purchase cannabis from authorized sellers and possess up to 3 ounces of cannabis and 24 grams of cannabis concentrate. We expect the legislation to serve as a catalyst for companies that are levered to the New York market and will monitor the rollout of it.

According to the legislation, cities, towns, and villages may opt-out of allowing recreational cannabis dispensaries or on-site consumption licenses by passing a local law by December 31, 2021 or nine months after the legislation takes effect. We do not expect to see many cities in New York opt-out after the COVID pandemic severely stressed the balance sheet.

We believe the legalization of cannabis in New York was necessary after surrounding states passed bills to legalize recreational cannabis. We are bullish on the structure of cannabis markets in the northeast and expect New York to be one of the largest markets in the US once the program is operational for a few years.

During the last month, we have seen a substantial increase in the amount of information on New York’s cannabis market and are favorable on the trend. Through a strategic relationship with Acreage Holdings (ACRG-AU.CN) (ACRDF), Canopy Growth Corporation (WEED.TO) (CGC) has attractive leverage to the New York market and will monitor how the company benefits from the change in legislation.

Canopy Growth is one of the few Canadian cannabis companies to have leverage to the New York market. Going forward, we expect companies like Aurora Cannabis Inc. (ACB.TO) (ACB), Aphria/Tilray (TLRY), and HEXO Corporation (HEXO.TO) (HEXO) to become levered to the Big Apple and will monitor how the industry advances from here.

If you are interested in learning more about the companies that could benefit from the passing of recreational cannabis legislation in New York, please email support@technical420.com with the subject “New York Cannabis Companies” to be added to our distribution list.

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Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Published at Thu, 01 Apr 2021 15:51:49 +0000

Medical Marijuana, Cannabis, & Hemp News

Medical Marijuana, Cannabis, & Hemp News






MMJObserver | Medical Marijuana, Cannabis, & Hemp Newshttps://www.mmjobserver.com


Time to load up on Square Inc (NYSE:SQ)https://www.mmjobserver.com/time-to-load-up-on-square-inc-nysesq/34025/
https://www.mmjobserver.com/?p=34025
<div><img src=”https://www.mmjobserver.com/wp-content/uploads/2020/02/mmjobserver-logo.jpg” class=”ff-og-image-inserted”></div><p>The tech stocks sold off due to rising rate fears. However, U.S. stock futures rose sharply in early morning trading on Monday, as Treasury yields retreated from their highs from last week, easing concerns about inflation and that higher rates would undermine equity valuations. Investors have a “rare” opportunity to buy the dip here, according to Mizuho analyst Dan Dolev.</p>
<p>The mobile payment company is coming off mixed fourth-quarter results earlier this week where the company revealed it purchased $170 billion worth of Bitcoin.</p>
<p>Shares finished the week down almost 17% but Dolev believes Square is in good shape for the long run.</p>
<p>The company’s bitcoin-enabled Cash App is “holding up well” and should continue to see growth after some recent deceleration, he wrote. The app allows users to transfer money via a mobile phone app.</p>
<p>“We see overall Seller &amp; Cash App gross profit accelerating in 1Q21,” he said.</p>
<p>And according to Dolev, the company’s products are “highly levered” to any government stimulus if more should transpire as is expected.</p>
<p>“Following the stimulus in March 2020, Cash App gross profit growth accelerated,” Dolev said.</p>
<p>The firm also has a Street high price target of $380 per share and even though the stock sold off this week, Square’s momentum remains firmly well-positioned, he said.</p>
<p>Source: https://www.cnbc.com/</p>
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<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Mon, 01 Mar 2021 14:02:02 +0000 Steven Russell
en-US
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https://www.mmjobserver.com/time-to-load-up-on-square-inc-nysesq/34025/
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NYSE:SQ
SQ
Square


Why ISW Holdings Inc (OTCMKTS:ISWH) Could be the Next Crypto Stock Starhttps://www.mmjobserver.com/why-isw-holdings-inc-otcmktsiswh-could-be-the-next-crypto-stock-star/34005/
https://www.mmjobserver.com/?p=34005
<div><img src=”https://www.mmjobserver.com/wp-content/uploads/2020/12/Bitcoin2.jpg” class=”ff-og-image-inserted”></div><p>As we move inexorably toward 2021, there are several themes that should strike the diligent eye of the astute investor: money creation, central bank activism, the discovery of the “fiscal channel” in policy operations, and the coming impact of covid-19 vaccines.</p>
<p>Wrapped in all of these conceptual narratives is Bitcoin, with its newfound sheen of legitimacy following moves by major payment platforms (the key to this puzzle) to invest in the digital currency. As a result, the crypto space has been on fire from any reasonable perspective.</p>
<p>But there are very few small and micro-cap investment plays available to the quote-unquote “normal” investor. The point: while Bitcoin has doubled over the past couple months, market participants are sure to be searching for instruments that can offer them much bigger returns over the near term on a proxy basis relative to the coin.</p>
<p>That’s why we are taking a closer look today at ISW Holdings Inc (OTCMKTS:ISWH), a company that has strong momentum in two major growth trends and has now established a strong anti-dilution program that deserves a close look.</p>
<p>The key here is that ISWH has laid down a recent track record of success in its telehealth and home healthcare segment and is verging on a breakout in commercial-stage operations for its cryptocurrency mining segment, producing what may be a major topline growth story now and throughout 2021.</p>

<p><strong>The Real Meal Deal</strong></p>
<p>ISW Holdings Inc (OTCMKTS:ISWH) isn’t a pretender in the Crypto space.</p>
<p>The company has made a significant investment in developing the Proceso Pod5ive datacenter pod, which is capable of driving Megawatt-level cryptocurrency computational mining power, has been fully assembled and is now ready for shipment to the 100 MW renewable energy Bit5ive LLC cryptocurrency mining project based in Pennsylvania.</p>
<p>“The job now is about bringing in revenues from participation in the Bit5ive Pennsylvania project while simultaneously building a track record for the Proceso, Pod5ive Data Center Pods as a global best-in-class solution for mining facilities around the world,” remarked Alonzo Pierce, President and Chairman of ISW Holdings.</p>
<p>“We have begun sourcing partnerships in this endeavor, and we feel our technology division has an extremely bright future ahead in step with the growing success of Bitcoin and the broader cryptocurrency space.”</p>
<p>While it apparently has an industry leading Power Usage Effectiveness (“PUE”) score of 1.06, and while Bitcoin has thundered higher, ISWH is still a micro-cap trading on the OTC, which means it will take work to drive it into the slipstream of the current bull market’s energy. OTC stocks don’t get “the benefit of the doubt”. They have to earn it.</p>
<p>But ISWH may be on that track.</p>

<p><strong>Shoring Up the Sheet</strong></p>
<p>But there’s another important dimension to note: as we approach that key moment where the company’s “pod5” crypto mining solution goes live and starts churning out mining revenues and then starts to attract interest as a product in the mining equipment space, the company has also recently taken another big step: streamlining its capital structure by curtailing dilution risk, canceling debt, and reducing outstanding shares by a substantial margin.</p>
<p>To wit, in ISWH’s most recent release: the company announced that it and its largest noteholders have reached an agreement whereby about 50% of the current convertible debt owed by the Company will be exchanged for restricted preferred equity, eliminating a significant portion of the dilution potential from convertible debentures now carried in the Company’s books.</p>
<p>According to the release, the Company and its largest noteholder have agreed to exchange convertible debentures (principal and interest) with an aggregate value of $602K for restricted Preferred B equity, thereby reducing total debt and significantly curtailing dilution potential over the coming months and years.</p>
<p>“The Preferred B Shares will be restricted for a period of one year,” said Pierce. “After one year, the Preferred B Shares can only be converted at a maximum 12.5% per quarter of the original common share issuance (a total of 4.5 million common shares). So basically, no more than 562,500 common shares will hit the market in any given quarter.”</p>

<p><em>This article is part of JournalTranscript.com Networks. Read the JournalTranscript.com Networks&nbsp;<a href=”https://www.journaltranscript.com/disclaimer/” target=”_blank” rel=”noopener noreferrer”>Disclaimer</a>.</em></p>
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<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Wed, 16 Dec 2020 10:35:24 +0000 Kyle Cummings
en-US
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https://www.mmjobserver.com/why-isw-holdings-inc-otcmktsiswh-could-be-the-next-crypto-stock-star/34005/
Business
Stocks
ISWH


Why Digital Marketing is the Heart of the Bull Market (CRM, DOX, GEGR, TTD)https://www.mmjobserver.com/why-digital-marketing-is-the-heart-of-the-bull-market-crm-dox-gegr-ttd/34000/
https://www.mmjobserver.com/?p=34000
<div><img src=”https://www.mmjobserver.com/wp-content/uploads/2020/07/gooseEgg.jpg” class=”ff-og-image-inserted”></div><p>The stock market has been in “Full Bull” mode for the better part of the past decade. But no phase of that run has been as aggressive as we have seen in recent weeks when it comes to investor enthusiasm, especially when considers options market activity. Call option bets from retail market participants have started to verge on all-time records as the retail audience asserts itself perhaps for the first time since the late 1990’s.</p>
<p>And one of the key ideas driving that strength is how new technologies are transforming old industries, with marketing and advertising sitting near the center of that narrative.</p>
<p>While you may not have noticed it, digital marketing and advertising stocks have been lighting up the scoreboard, offering brands increasing value as companies search for new and innovative ways to engage with end market consumers.</p>
<p>With that in mind, we take a look at some of the most compelling opportunities in the space, including: Amdocs Limited (NASDAQ:DOX), salesforce.com inc (NYSE:CRM), Gaensel Energy Group (OTMKTS:GEGR), and Trade Desk Inc (NASDAQ:TTD).</p>

<p><strong>Amdocs Limited (NASDAQ:DOX)</strong> bills itself as a company that partners with the leading players in the communications and media industry, enabling next-generation experiences in 85 countries.</p>
<p>Its cloud-native, open, and dynamic portfolio of digital solutions, platforms and services brings greater choice, faster time-to-market, and more flexibility to better meet the evolving needs of our customers as they drive growth, transform and take their business to the cloud. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.2 billion in fiscal 2020.</p>
<p>Amdocs Limited (NASDAQ:DOX) announced that Vodafone Romania and Amdocs partnered to jointly develop the Digital Experience platform for digitalizing the retail experience. This will give Vodafone Romania a 360-degree view of its customers across a number of touchpoints while integrating fixed and mobile communication products into a converged retail product. The project included moving several key components and capabilities into the AWS cloud.</p>
<p>The project is a key milestone in Vodafone Romania’s journey towards a technology communications company where strong internal software engineering capabilities enabled a new partnership model with Amdocs. Through the digital transformation of its retail experience, Vodafone Romania can now better understand its customers’ journeys by leveraging smart systems to interact with its customers in a more focused, tailored and effective way.</p>
<p>Even in light of this news, DOX hasn’t really done much of anything over the past week, with shares logging no net movement over that period. Shares of the stock have powered higher over the past month, rallying roughly 5% in that time on strong overall action.</p>
<p>Amdocs Limited (NASDAQ:DOX) generated sales of $1.1B, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 2.7% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($983.9M against $1.2B, respectively).</p>

<p><strong>salesforce.com inc (NYSE:CRM)</strong> trumpets itself as a company that develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.</p>
<p>It also provides Service Cloud, which enables companies to deliver personalized customer service and support, as well as a field service solution that enables companies to connect agents, dispatchers, and mobile employees through a centralized platform, which helps to schedule and dispatch work, and track and manage jobs in real-time. In addition, the company offers Marketing Cloud to plan, personalize, and optimize one-to-one customer marketing interactions; Commerce Cloud, which enables companies to enhance engagement, conversion, revenue, and loyalty from their customers; and Community Cloud that enables companies to create and manage branded digital destinations for customers, partners, and employees.</p>
<p>salesforce.com inc (NYSE:CRM) most recently announced that it has collaborated with Gavi, the Vaccine Alliance, to help Gavi manage critical information to equitably distribute approximately two billion COVID-19 vaccines to 190 countries by the end of 2021.</p>
<p>According to the release, fair, rapid and equitable access to vaccines is critical to ending the global pandemic. Public-private partnerships, such as Gavi, which are focused on getting vaccines to some of the world’s poorest countries, need to be armed with data and technology to facilitate distribution at scale. The ability to manage huge volumes of country data is essential.</p>
<p>Even in light of this news, CRM has had a rough past week of trading action, with shares sinking something like -3% in that time. That said, chart support is nearby, and we may be in the process of constructing a nice setup for some movement back the other way.</p>
<p>salesforce.com inc (NYSE:CRM) pulled in sales of $5.4B in its last reported quarterly financials, representing top line growth of 20.1%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($9.5B against $12.2B, respectively).</p>

<p><strong>Gaensel Energy Group (OTMKTS:GEGR)</strong> us an interesting name in the space because of its cheap price and recent powerful transition toward a new holding company model pursuing a diversified model with growing strategic interests in the Energy, Manufacturing, Software, and Technology markets.</p>
<p>The company has recently been rolling up properties toward the establishment of a market leading framework in the digital marketing, technology, and advertising space. Its recent moves suggest the potential to make serious waves in the industry, with ties to top global firms and a vision that includes the establishment of a cross-Atlantic powerhouse market position.</p>
<p>Gaensel Energy Group (OTMKTS:GEGR) recently announced the acquisition of Suite 110 SRL, providing dynamic solutions for Small and Medium Enterprises (SMEs), with annual revenues in excess of $8,000,000 USD.</p>
<p>According to the release, Suite 110 SRL that provides an all-in-one CRM management, sales and marketing system, encrypted cloud storage for secure documents, project management, invoicing and accounting, warehouse, logistics and inventory optimization, connectivity for multi-bank and cash management, and a number of other features that provide businesses with a platform that streamlines operations in one secure platform.</p>
<p>The company’s founder and Director Helmut Gaensel stated, “This is one of a number of active acquisition targets we have and continue to be negotiating and today we are pleased to have finalized the acquisition of this additional Company. Our management team has identified a number of companies and Intellectual Property ripe for acquisition and expansion as a result of the pandemic.”</p>
<p>This dovetails with another acquisition that appears to be in the works with a company that has clients spanning the highest orders of the blue-chip ranks. As such, it isn’t surprising that the stock has been acting well over recent days, up something like 8% in that time. Shares of the stock have powered higher over the past month, rallying roughly 7% in that time on strong overall action.</p>
<p>Gaensel Energy Group (OTMKTS:GEGR) had no reported sales in its last quarterly financial data. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($455 against $463K, respectively).</p>

<p><strong>Trade Desk Inc (NASDAQ:TTD)</strong> is a cloud-based advertising-buying platform. Ad buyers can value each impression like traders value stocks, using first and third party data to decide which impression to buy and how much to pay. Its platform enables advertising clients to purchase and manage digital advertising campaigns across various formats, including connected TV (CTV), mobile, video, audio, display, social and native, on a multitude of devices, including smart TVs, computers, and mobile devices.</p>
<p>As the company frames itself, it provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company’s platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets. It serves advertising agencies and other service providers for advertisers.</p>
<p>Trade Desk Inc (NASDAQ:TTD) recently announced that Nielsen (NYSE:NLSN) is supporting the industry-wide initiative to develop and deploy Unified ID 2.0.</p>
<p>According to the release, with initial development led by The Trade Desk, Unified ID 2.0 is a new industry-wide approach to internet identity that preserves the value of relevant advertising, while putting user control and privacy at the forefront. The ID is an upgrade and an alternative to third-party cookies.</p>
<p>Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week.</p>
<p>Trade Desk Inc (NASDAQ:TTD) pulled in sales of $216.1M in its last reported quarterly financials, representing top line growth of 31.6%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($557.3M against $1B, respectively).</p>

<p><em>This article is part of JournalTranscript.com Networks. Read the JournalTranscript.com Networks&nbsp;<a href=”https://www.journaltranscript.com/disclaimer/” target=”_blank” rel=”noopener noreferrer”>Disclaimer</a>.</em></p>
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Jushi Holdings Announces Update on Expansion Project at Pennsylvania Grower-Processor Facility

Jushi Holdings Announces Update on Expansion Project at Pennsylvania Grower-Processor Facility

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions.

Safe Harbor Services’ credit union banked $3 billion in cannabis funds last year, part of a vast but fairly under-the-radar ecosystem where businesses are building rapport with smaller independent financial institutions like regional credit unions. There’s a lot to know to make sure that it’s a productive relationship, and federal reform is only one piece of the puzzle. Much of the work falls to the cannabis business, of course.

Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

Eric Sandy: Could provide a bit of a biographical sketch of Safe Harbor, as of early 2021, and the scope of how the business is interacting with cannabis businesses?

Amanda McComb: We started our cannabis banking program in 2015 and have since gone through 15 state and federal exams. So, it’s been a long haul, most specifically just for the cannabis program to make sure that we were staying in compliance and doing it in a safe and sound way. We also started a national [cannabis] program back in 2017. A lot of our clients that we bank here in Colorado were going out of state, and we wanted to follow them out of state because it’s really important for us to see all of their business—to be able to stand in front of the money and say that they’re legitimate businesses and that they’re operating within compliance, within their regulations. So, we started following them out of state and realized really quickly that we couldn’t be the only financial institution to bank the nation as a whole. We started working with other financial institutions to give them a compliance program that had obviously gone through multiple exams and had feedback from our regulators that we’d really tried to fine-tune.

So, we have about seven or eight different financial institutions that we work with throughout the nation. Here in 2021 we’re actually consolidating all of our cannabis-related initiatives into a new company called Safe Harbor financial. It’s combining those relationships with financial institutions and our relationships with cannabis clients and putting it all together in one company and then expanding the services that we offer to the industry. We’re working on lending and other initiatives to support the industry and bring them more normalized banking, because, as I’m sure you know, they just haven’t had a lot of normalized banking or lending or investments. The CEO of [Safe Harbor’s] credit union is essentially stepping down from the credit union and running this new company, focusing all of her efforts on all things cannabis-related and then moving into other ventures like virtual currencies and things that might be of use to the cannabis space at some point.

ES: What are some of the common misconceptions that Safe Harbor has run into? Are there certain banking-related questions that cannabis businesses are bringing to you that they haven’t fully grasped yet?

AM: As the cannabis industry gets more normalized and more states pass regulations surrounding cannabis, there’s the misconception that it could just be a regular bank account or a regular business account. Unfortunately, like we saw with the 15 state and federal exams, it just can’t be a normal business account at this point. Even if the SAFE Banking Act were to pass, it’s still so close to that black market history. There is still a pull because it’s so expensive to be in the cannabis space—especially places like California where they had cannabis before they really had regulations.

Trying walk that back and put regulations on these companies that have been selling for some time is expensive and labor-intensive for the companies. When they go to get a bank account, we’re very intrusive and we always consider ourselves the nosiest bankers around because we have had to ensure that they are legitimate businesses. There’s just so much compliance that has to happen on our end in order to protect the financial system as a whole, that it is more expensive. We can’t offer the variety of products that we could offer, quote unquote, normal businesses or normalized businesses.

ES: On the due diligence side of the conversation, what are some ways that these cannabis businesses might help prepare to work with a financial institution?

AM: We collect a lot of the same data that they would provide to get their license with their state. If they’re very organized and keep all of that together, it’s a good place for us to start. Having sophisticated or at least up-to-par bookkeeping and accounting [helps], so that we can look through their financials—specifically if they haven’t been banked. That’s one of the hardest parts: trying to prove that the funds that they’ve earned when they were unbanked are legitimately earned in their state. Having solid records so that we have something to rely upon when our regulators come in and ask, “How do we know that these are legitimate funds?” is important.

ES: Going back to those 15 state and federal exams, could you elaborate on what that looks like? And do those exams differ from state to state in any substantial way?

AM: Typically, a financial institution will be on a 12-month to 18-month exam schedule, and when we started our program, it was a lot of education for us and the regulators. It was a lot of discussion of what cannabis banking looks like. Not a lot of our regulators had experience in financial institutions that banked cannabis. The exams were very collaborative in us trying to figure out the safest way to bank this and to not make it impossible for the cannabis industry to bank—but also to ensure safety and soundness for our institution and for the financial system as a whole. It was a lot of back and forth, collaborative efforts that actually prompted us to develop our own compliance software in-house that we, from all of the feedback that we were getting from regulators, were able to streamline and male as easy as possible.

ES: One of the questions we’ve gotten pretty frequently over the years is from cannabis business owners trying to find credit unions who are willing to work with them in the cannabis space at all. So, how can credit unions signal to the cannabis industry that they’re open to this business, and how do these relationships start?

AM: At this point, what I’ve seen is it’s a lot of word of mouth. A lot of financial institutions are hesitant to come out publicly and say that they are banking cannabis because it does bring additional scrutiny. It can also be a reputation risk with our peers and with vendors that we work with. In my world, cannabis is more normalized just because I’ve had a front seat to it, but in talking to other financial institutions, they tend to be a lot more conservative with their risk. A lot of times it’s word of mouth between clients, which can be difficult because a lot of them are under NDAs with financial institutions. Some of it is just seeing the checks, if you’re getting checks from [financial] institutions. That’s not always super reliable, because the institution might not know that they’re banking cannabis necessarily.

There are some things to keep in mind, though, as the cannabis industry is looking for bank accounts and really investigating the financial stability of the institutions. Most of that is publicly available information. A lot of institutions, especially smaller institutions, think that cannabis will be the solution to their financial problems or the recessionary possibility. Sometimes, those are the ones that go out of business quickly because they just don’t have the capacity to handle all the compliance that’s necessary. So, it’s on the cannabis industry to do a little research on the financial institutions that they start to work with.

ES: Given that, what were some of the prime movers for Safe Harbor, years ago, to be willing to step into this space?

AM: The biggest one was community safety. When we started talking to the industry, a lot of Colorado was unbanked. We were hearing stories about these entrepreneurs who hadn’t been in a cash-intensive space. Working in a financial institution, we understand the risks of cash. We go through robbery trainings. A lot of my coworkers have been through robberies. So, we understand that level of risk. And when you’re talking to the industry and they’re going to ATMs late at night, shoving cash in ATMs and doing payroll in cash, the risk that we saw was very intimidating. We wanted to help in the sense of providing a place to put their cash—and they wouldn’t have to manage it. The other thing is, credit unions were really founded to bank the underbanked and serve the underserved. There didn’t really seem to be a more modern version of that than the cannabis industry, especially as they were being shut out of financial institutions and having to operate in cash. Those two are large driving forces for why we got into the industry.

ES: From your perspective, what sort of trends are you watching out of Washington—or what sort of aspects of federal reform, maybe in the SAFE Banking Act, are you looking for that would be legitimately helpful for the industry?

AM: The SAFE Banking Act will be helpful to institutions that are still willing to take on something that would be high-risk. FinCEN [The Financial Crimes Enforcement Network] is our ultimate regulator. I’m hoping that if something federally passes like the SAFE Banking Act, then FinCEN can respond and give us more detailed guidance on what they’re specifically looking for in cannabis banking. They do have a guidance for us. It’s from 2014, so it’s a little outdated, especially with how fast the industry is moving at this point. It allows for institutions to come in and bank [the industry] without being prosecuted, just because it’s cannabis. Right now, with anti-money-laundering rules and BSA, what we’re doing could be determined as money laundering since it’s federally illicit funds.

So, a lot of working with our regulators was really being able to stand in front of that money and say, “No, this was legitimately earned in my state, and we are doing the best effort or a good faith effort to ensure compliance and ensure that it’s all legitimate.” That side probably won’t go away. While it does open the door for institutions to get in, they still are going to have to have the compliance resources to still stand up and say, “This isn’t from the black market. It is legitimate money,” even if the SAFE Banking Act passes.

It’s an interesting discussion to have with financial institutions, because most of us are federally insured and it is a complicated conversation to have. It’s not just the cannabis space where we’re looking for money laundering and things like that, but it does have those close ties to the black market. We’re just a few years outside of it, you know?

ES: California and Colorado have come up, but, just in terms of geographic scope, are there any major differences in how banking regulations are playing out in newer cannabis markets, like an Ohio or a Florida?

AM: With a lot of the newer states coming up, it’s an interesting change in banking because a lot of our initial due diligence changes. We aren’t trying to show legitimacy to their funds, because a lot of times it’s just investment funds or owner contributions to get these licenses off the ground. With the newer markets, the initial due diligence is typically a bit easier because they’re going through the licensing process, so they have all the documents handy. There isn’t a lot for us to go in and validate. A lot of the states have learned from some of the mistakes that California and Colorado and Oregon and Washington and all of us made initially getting into it.

A lot of the newer states are a little bit easier. It’s funny, though, because a lot of [the new cannabis businesses] are the ones that think that it should be normalized banking because they just haven’t had that history of not having banking. What’s also interesting is new states like Florida and Michigan and others, they have very sophisticated backing. There’s Fortune 500 and there’s a lot of this sophistication in their management and control. It’s different from some of the mom-and-pop shops that we saw initially, and it’s very fascinating to see where the industry is going as far as being publicly traded in Canada and all of the international aspects that are coming into the cannabis industry.

Published at Thu, 01 Apr 2021 18:28:00 +0000

Agrify Announces Record Fiscal 2020 Annual Results

Agrify Announces Record Fiscal 2020 Annual Results

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions.

Safe Harbor Services’ credit union banked $3 billion in cannabis funds last year, part of a vast but fairly under-the-radar ecosystem where businesses are building rapport with smaller independent financial institutions like regional credit unions. There’s a lot to know to make sure that it’s a productive relationship, and federal reform is only one piece of the puzzle. Much of the work falls to the cannabis business, of course.

Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

Eric Sandy: Could provide a bit of a biographical sketch of Safe Harbor, as of early 2021, and the scope of how the business is interacting with cannabis businesses?

Amanda McComb: We started our cannabis banking program in 2015 and have since gone through 15 state and federal exams. So, it’s been a long haul, most specifically just for the cannabis program to make sure that we were staying in compliance and doing it in a safe and sound way. We also started a national [cannabis] program back in 2017. A lot of our clients that we bank here in Colorado were going out of state, and we wanted to follow them out of state because it’s really important for us to see all of their business—to be able to stand in front of the money and say that they’re legitimate businesses and that they’re operating within compliance, within their regulations. So, we started following them out of state and realized really quickly that we couldn’t be the only financial institution to bank the nation as a whole. We started working with other financial institutions to give them a compliance program that had obviously gone through multiple exams and had feedback from our regulators that we’d really tried to fine-tune.

So, we have about seven or eight different financial institutions that we work with throughout the nation. Here in 2021 we’re actually consolidating all of our cannabis-related initiatives into a new company called Safe Harbor financial. It’s combining those relationships with financial institutions and our relationships with cannabis clients and putting it all together in one company and then expanding the services that we offer to the industry. We’re working on lending and other initiatives to support the industry and bring them more normalized banking, because, as I’m sure you know, they just haven’t had a lot of normalized banking or lending or investments. The CEO of [Safe Harbor’s] credit union is essentially stepping down from the credit union and running this new company, focusing all of her efforts on all things cannabis-related and then moving into other ventures like virtual currencies and things that might be of use to the cannabis space at some point.

ES: What are some of the common misconceptions that Safe Harbor has run into? Are there certain banking-related questions that cannabis businesses are bringing to you that they haven’t fully grasped yet?

AM: As the cannabis industry gets more normalized and more states pass regulations surrounding cannabis, there’s the misconception that it could just be a regular bank account or a regular business account. Unfortunately, like we saw with the 15 state and federal exams, it just can’t be a normal business account at this point. Even if the SAFE Banking Act were to pass, it’s still so close to that black market history. There is still a pull because it’s so expensive to be in the cannabis space—especially places like California where they had cannabis before they really had regulations.

Trying walk that back and put regulations on these companies that have been selling for some time is expensive and labor-intensive for the companies. When they go to get a bank account, we’re very intrusive and we always consider ourselves the nosiest bankers around because we have had to ensure that they are legitimate businesses. There’s just so much compliance that has to happen on our end in order to protect the financial system as a whole, that it is more expensive. We can’t offer the variety of products that we could offer, quote unquote, normal businesses or normalized businesses.

ES: On the due diligence side of the conversation, what are some ways that these cannabis businesses might help prepare to work with a financial institution?

AM: We collect a lot of the same data that they would provide to get their license with their state. If they’re very organized and keep all of that together, it’s a good place for us to start. Having sophisticated or at least up-to-par bookkeeping and accounting [helps], so that we can look through their financials—specifically if they haven’t been banked. That’s one of the hardest parts: trying to prove that the funds that they’ve earned when they were unbanked are legitimately earned in their state. Having solid records so that we have something to rely upon when our regulators come in and ask, “How do we know that these are legitimate funds?” is important.

ES: Going back to those 15 state and federal exams, could you elaborate on what that looks like? And do those exams differ from state to state in any substantial way?

AM: Typically, a financial institution will be on a 12-month to 18-month exam schedule, and when we started our program, it was a lot of education for us and the regulators. It was a lot of discussion of what cannabis banking looks like. Not a lot of our regulators had experience in financial institutions that banked cannabis. The exams were very collaborative in us trying to figure out the safest way to bank this and to not make it impossible for the cannabis industry to bank—but also to ensure safety and soundness for our institution and for the financial system as a whole. It was a lot of back and forth, collaborative efforts that actually prompted us to develop our own compliance software in-house that we, from all of the feedback that we were getting from regulators, were able to streamline and male as easy as possible.

ES: One of the questions we’ve gotten pretty frequently over the years is from cannabis business owners trying to find credit unions who are willing to work with them in the cannabis space at all. So, how can credit unions signal to the cannabis industry that they’re open to this business, and how do these relationships start?

AM: At this point, what I’ve seen is it’s a lot of word of mouth. A lot of financial institutions are hesitant to come out publicly and say that they are banking cannabis because it does bring additional scrutiny. It can also be a reputation risk with our peers and with vendors that we work with. In my world, cannabis is more normalized just because I’ve had a front seat to it, but in talking to other financial institutions, they tend to be a lot more conservative with their risk. A lot of times it’s word of mouth between clients, which can be difficult because a lot of them are under NDAs with financial institutions. Some of it is just seeing the checks, if you’re getting checks from [financial] institutions. That’s not always super reliable, because the institution might not know that they’re banking cannabis necessarily.

There are some things to keep in mind, though, as the cannabis industry is looking for bank accounts and really investigating the financial stability of the institutions. Most of that is publicly available information. A lot of institutions, especially smaller institutions, think that cannabis will be the solution to their financial problems or the recessionary possibility. Sometimes, those are the ones that go out of business quickly because they just don’t have the capacity to handle all the compliance that’s necessary. So, it’s on the cannabis industry to do a little research on the financial institutions that they start to work with.

ES: Given that, what were some of the prime movers for Safe Harbor, years ago, to be willing to step into this space?

AM: The biggest one was community safety. When we started talking to the industry, a lot of Colorado was unbanked. We were hearing stories about these entrepreneurs who hadn’t been in a cash-intensive space. Working in a financial institution, we understand the risks of cash. We go through robbery trainings. A lot of my coworkers have been through robberies. So, we understand that level of risk. And when you’re talking to the industry and they’re going to ATMs late at night, shoving cash in ATMs and doing payroll in cash, the risk that we saw was very intimidating. We wanted to help in the sense of providing a place to put their cash—and they wouldn’t have to manage it. The other thing is, credit unions were really founded to bank the underbanked and serve the underserved. There didn’t really seem to be a more modern version of that than the cannabis industry, especially as they were being shut out of financial institutions and having to operate in cash. Those two are large driving forces for why we got into the industry.

ES: From your perspective, what sort of trends are you watching out of Washington—or what sort of aspects of federal reform, maybe in the SAFE Banking Act, are you looking for that would be legitimately helpful for the industry?

AM: The SAFE Banking Act will be helpful to institutions that are still willing to take on something that would be high-risk. FinCEN [The Financial Crimes Enforcement Network] is our ultimate regulator. I’m hoping that if something federally passes like the SAFE Banking Act, then FinCEN can respond and give us more detailed guidance on what they’re specifically looking for in cannabis banking. They do have a guidance for us. It’s from 2014, so it’s a little outdated, especially with how fast the industry is moving at this point. It allows for institutions to come in and bank [the industry] without being prosecuted, just because it’s cannabis. Right now, with anti-money-laundering rules and BSA, what we’re doing could be determined as money laundering since it’s federally illicit funds.

So, a lot of working with our regulators was really being able to stand in front of that money and say, “No, this was legitimately earned in my state, and we are doing the best effort or a good faith effort to ensure compliance and ensure that it’s all legitimate.” That side probably won’t go away. While it does open the door for institutions to get in, they still are going to have to have the compliance resources to still stand up and say, “This isn’t from the black market. It is legitimate money,” even if the SAFE Banking Act passes.

It’s an interesting discussion to have with financial institutions, because most of us are federally insured and it is a complicated conversation to have. It’s not just the cannabis space where we’re looking for money laundering and things like that, but it does have those close ties to the black market. We’re just a few years outside of it, you know?

ES: California and Colorado have come up, but, just in terms of geographic scope, are there any major differences in how banking regulations are playing out in newer cannabis markets, like an Ohio or a Florida?

AM: With a lot of the newer states coming up, it’s an interesting change in banking because a lot of our initial due diligence changes. We aren’t trying to show legitimacy to their funds, because a lot of times it’s just investment funds or owner contributions to get these licenses off the ground. With the newer markets, the initial due diligence is typically a bit easier because they’re going through the licensing process, so they have all the documents handy. There isn’t a lot for us to go in and validate. A lot of the states have learned from some of the mistakes that California and Colorado and Oregon and Washington and all of us made initially getting into it.

A lot of the newer states are a little bit easier. It’s funny, though, because a lot of [the new cannabis businesses] are the ones that think that it should be normalized banking because they just haven’t had that history of not having banking. What’s also interesting is new states like Florida and Michigan and others, they have very sophisticated backing. There’s Fortune 500 and there’s a lot of this sophistication in their management and control. It’s different from some of the mom-and-pop shops that we saw initially, and it’s very fascinating to see where the industry is going as far as being publicly traded in Canada and all of the international aspects that are coming into the cannabis industry.

Published at Thu, 01 Apr 2021 15:30:00 +0000

Stockton University’s Cannabis and Hemp Research Institute to Offer Lab Testing, Education

Stockton University’s Cannabis and Hemp Research Institute to Offer Lab Testing, Education

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions.

Safe Harbor Services’ credit union banked $3 billion in cannabis funds last year, part of a vast but fairly under-the-radar ecosystem where businesses are building rapport with smaller independent financial institutions like regional credit unions. There’s a lot to know to make sure that it’s a productive relationship, and federal reform is only one piece of the puzzle. Much of the work falls to the cannabis business, of course.

Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

Eric Sandy: Could provide a bit of a biographical sketch of Safe Harbor, as of early 2021, and the scope of how the business is interacting with cannabis businesses?

Amanda McComb: We started our cannabis banking program in 2015 and have since gone through 15 state and federal exams. So, it’s been a long haul, most specifically just for the cannabis program to make sure that we were staying in compliance and doing it in a safe and sound way. We also started a national [cannabis] program back in 2017. A lot of our clients that we bank here in Colorado were going out of state, and we wanted to follow them out of state because it’s really important for us to see all of their business—to be able to stand in front of the money and say that they’re legitimate businesses and that they’re operating within compliance, within their regulations. So, we started following them out of state and realized really quickly that we couldn’t be the only financial institution to bank the nation as a whole. We started working with other financial institutions to give them a compliance program that had obviously gone through multiple exams and had feedback from our regulators that we’d really tried to fine-tune.

So, we have about seven or eight different financial institutions that we work with throughout the nation. Here in 2021 we’re actually consolidating all of our cannabis-related initiatives into a new company called Safe Harbor financial. It’s combining those relationships with financial institutions and our relationships with cannabis clients and putting it all together in one company and then expanding the services that we offer to the industry. We’re working on lending and other initiatives to support the industry and bring them more normalized banking, because, as I’m sure you know, they just haven’t had a lot of normalized banking or lending or investments. The CEO of [Safe Harbor’s] credit union is essentially stepping down from the credit union and running this new company, focusing all of her efforts on all things cannabis-related and then moving into other ventures like virtual currencies and things that might be of use to the cannabis space at some point.

ES: What are some of the common misconceptions that Safe Harbor has run into? Are there certain banking-related questions that cannabis businesses are bringing to you that they haven’t fully grasped yet?

AM: As the cannabis industry gets more normalized and more states pass regulations surrounding cannabis, there’s the misconception that it could just be a regular bank account or a regular business account. Unfortunately, like we saw with the 15 state and federal exams, it just can’t be a normal business account at this point. Even if the SAFE Banking Act were to pass, it’s still so close to that black market history. There is still a pull because it’s so expensive to be in the cannabis space—especially places like California where they had cannabis before they really had regulations.

Trying walk that back and put regulations on these companies that have been selling for some time is expensive and labor-intensive for the companies. When they go to get a bank account, we’re very intrusive and we always consider ourselves the nosiest bankers around because we have had to ensure that they are legitimate businesses. There’s just so much compliance that has to happen on our end in order to protect the financial system as a whole, that it is more expensive. We can’t offer the variety of products that we could offer, quote unquote, normal businesses or normalized businesses.

ES: On the due diligence side of the conversation, what are some ways that these cannabis businesses might help prepare to work with a financial institution?

AM: We collect a lot of the same data that they would provide to get their license with their state. If they’re very organized and keep all of that together, it’s a good place for us to start. Having sophisticated or at least up-to-par bookkeeping and accounting [helps], so that we can look through their financials—specifically if they haven’t been banked. That’s one of the hardest parts: trying to prove that the funds that they’ve earned when they were unbanked are legitimately earned in their state. Having solid records so that we have something to rely upon when our regulators come in and ask, “How do we know that these are legitimate funds?” is important.

ES: Going back to those 15 state and federal exams, could you elaborate on what that looks like? And do those exams differ from state to state in any substantial way?

AM: Typically, a financial institution will be on a 12-month to 18-month exam schedule, and when we started our program, it was a lot of education for us and the regulators. It was a lot of discussion of what cannabis banking looks like. Not a lot of our regulators had experience in financial institutions that banked cannabis. The exams were very collaborative in us trying to figure out the safest way to bank this and to not make it impossible for the cannabis industry to bank—but also to ensure safety and soundness for our institution and for the financial system as a whole. It was a lot of back and forth, collaborative efforts that actually prompted us to develop our own compliance software in-house that we, from all of the feedback that we were getting from regulators, were able to streamline and male as easy as possible.

ES: One of the questions we’ve gotten pretty frequently over the years is from cannabis business owners trying to find credit unions who are willing to work with them in the cannabis space at all. So, how can credit unions signal to the cannabis industry that they’re open to this business, and how do these relationships start?

AM: At this point, what I’ve seen is it’s a lot of word of mouth. A lot of financial institutions are hesitant to come out publicly and say that they are banking cannabis because it does bring additional scrutiny. It can also be a reputation risk with our peers and with vendors that we work with. In my world, cannabis is more normalized just because I’ve had a front seat to it, but in talking to other financial institutions, they tend to be a lot more conservative with their risk. A lot of times it’s word of mouth between clients, which can be difficult because a lot of them are under NDAs with financial institutions. Some of it is just seeing the checks, if you’re getting checks from [financial] institutions. That’s not always super reliable, because the institution might not know that they’re banking cannabis necessarily.

There are some things to keep in mind, though, as the cannabis industry is looking for bank accounts and really investigating the financial stability of the institutions. Most of that is publicly available information. A lot of institutions, especially smaller institutions, think that cannabis will be the solution to their financial problems or the recessionary possibility. Sometimes, those are the ones that go out of business quickly because they just don’t have the capacity to handle all the compliance that’s necessary. So, it’s on the cannabis industry to do a little research on the financial institutions that they start to work with.

ES: Given that, what were some of the prime movers for Safe Harbor, years ago, to be willing to step into this space?

AM: The biggest one was community safety. When we started talking to the industry, a lot of Colorado was unbanked. We were hearing stories about these entrepreneurs who hadn’t been in a cash-intensive space. Working in a financial institution, we understand the risks of cash. We go through robbery trainings. A lot of my coworkers have been through robberies. So, we understand that level of risk. And when you’re talking to the industry and they’re going to ATMs late at night, shoving cash in ATMs and doing payroll in cash, the risk that we saw was very intimidating. We wanted to help in the sense of providing a place to put their cash—and they wouldn’t have to manage it. The other thing is, credit unions were really founded to bank the underbanked and serve the underserved. There didn’t really seem to be a more modern version of that than the cannabis industry, especially as they were being shut out of financial institutions and having to operate in cash. Those two are large driving forces for why we got into the industry.

ES: From your perspective, what sort of trends are you watching out of Washington—or what sort of aspects of federal reform, maybe in the SAFE Banking Act, are you looking for that would be legitimately helpful for the industry?

AM: The SAFE Banking Act will be helpful to institutions that are still willing to take on something that would be high-risk. FinCEN [The Financial Crimes Enforcement Network] is our ultimate regulator. I’m hoping that if something federally passes like the SAFE Banking Act, then FinCEN can respond and give us more detailed guidance on what they’re specifically looking for in cannabis banking. They do have a guidance for us. It’s from 2014, so it’s a little outdated, especially with how fast the industry is moving at this point. It allows for institutions to come in and bank [the industry] without being prosecuted, just because it’s cannabis. Right now, with anti-money-laundering rules and BSA, what we’re doing could be determined as money laundering since it’s federally illicit funds.

So, a lot of working with our regulators was really being able to stand in front of that money and say, “No, this was legitimately earned in my state, and we are doing the best effort or a good faith effort to ensure compliance and ensure that it’s all legitimate.” That side probably won’t go away. While it does open the door for institutions to get in, they still are going to have to have the compliance resources to still stand up and say, “This isn’t from the black market. It is legitimate money,” even if the SAFE Banking Act passes.

It’s an interesting discussion to have with financial institutions, because most of us are federally insured and it is a complicated conversation to have. It’s not just the cannabis space where we’re looking for money laundering and things like that, but it does have those close ties to the black market. We’re just a few years outside of it, you know?

ES: California and Colorado have come up, but, just in terms of geographic scope, are there any major differences in how banking regulations are playing out in newer cannabis markets, like an Ohio or a Florida?

AM: With a lot of the newer states coming up, it’s an interesting change in banking because a lot of our initial due diligence changes. We aren’t trying to show legitimacy to their funds, because a lot of times it’s just investment funds or owner contributions to get these licenses off the ground. With the newer markets, the initial due diligence is typically a bit easier because they’re going through the licensing process, so they have all the documents handy. There isn’t a lot for us to go in and validate. A lot of the states have learned from some of the mistakes that California and Colorado and Oregon and Washington and all of us made initially getting into it.

A lot of the newer states are a little bit easier. It’s funny, though, because a lot of [the new cannabis businesses] are the ones that think that it should be normalized banking because they just haven’t had that history of not having banking. What’s also interesting is new states like Florida and Michigan and others, they have very sophisticated backing. There’s Fortune 500 and there’s a lot of this sophistication in their management and control. It’s different from some of the mom-and-pop shops that we saw initially, and it’s very fascinating to see where the industry is going as far as being publicly traded in Canada and all of the international aspects that are coming into the cannabis industry.

Published at Thu, 01 Apr 2021 17:24:00 +0000

ManifestSeven Reports Record Results for Fourth Quarter and Fiscal Year 2020

ManifestSeven Reports Record Results for Fourth Quarter and Fiscal Year 2020

ManifestSeven Holdings Corporation (CSE: MSVN; OTCMKTS: MNFSF) (” M7 ” or the ” Company “), California’sfirst integrated omnichannel platform for legal cannabis, today announced financial results for its fiscal fourth quarter and year ended November 30, 2020 . M7’s fiscal year 2020 financial results reflect the Company’s consistent organic growth during the first full fiscal year of integrated operations of its business-to-business and direct-to-consumer divisions—respectively, Highlanders Distribution and Weden —which seamlessly integrate the cannabis supply chain directly with end-users in major metropolitan markets throughout California .

All financial information in this press release is provided in U.S. dollars unless otherwise indicated.

Fourth Quarter and 2020 Fiscal Year Financial Highlights

  • Record consolidated revenue of $17.7 million during fiscal year 2020, representing a 64% year-over-year increase, compared to $10.8 million during fiscal year 2019, and $4.0 million during the fiscal fourth quarter 2020.
  • Consolidated gross profit of $5.5 million during fiscal year 2020, representing a 97% year-over-year increase, compared to $2.8 million during fiscal year 2019, and $1.3 million during the fiscal fourth quarter 2020.
  • Consolidated gross margins increased from 26% during fiscal year 2019 to 31% during fiscal year 2020, and 32% during the fiscal fourth quarter 2020.

Operational Highlights

  • The growth in M7’s operations was due to increased demand for the comprehensive suite of services offered by Highlanders Distribution, which served 248 licensees during the fiscal year 2020, which represents an 86% increase from 133 licensees served during the fiscal year 2019.
  • The Company continued to rapidly expand its retail customer base throughout California , with the number of unique consumers served by Weden during fiscal year 2020 increasing by 118% year-over-year. Meanwhile, the average transaction size of Weden delivery orders increased by nearly 10% over the same time frame.
  • M7 continued to optimize its cost structure, resulting in a year-over-year reduction in operating expenses (excluding depreciation and amortization and share-based payment expense) of 27% and 52% during fiscal year and fourth quarter 2020, respectively.

Key Updates Subsequent to the Quarter

  • The Company entered into distribution partnerships with some of the state’s leading finished goods brands—including Eel River Organics and Cream of the Crop—significantly expanding Highlanders Distribution’s brand portfolio across all key product categories.
  • The Company opened its scaled, multi-use facility in Brisbane , which functions as M7’s centralized distribution and logistics hub serving the Northern California cannabis market and significantly expands Highlanders Distribution’s operational capabilities and logistical efficiency in the region.
  • M7 expanded its distribution infrastructure by more than tripling the size of its vehicle fleet, augmenting Highlanders Distribution’s logistics capabilities and increasing its capacity to transport finished goods and bulk wholesale inventory across virtually all product categories at scale throughout California .
  • The Company launched local on-demand delivery operations at its new Brisbane facility, providing Weden with comprehensive coverage of both sides of theSan Francisco Bay Area and maximizing its footprint in Northern California’s largest and most populous market.
  • M7 converted its Oakland facility into one of Northern California’s most robust delivery-only hubs, expanding Weden’s operational square footage in Oaklandby over 1,000 percent and significantly broadening its geographic footprint in the San Francisco Bay Area market.
  • M7 refinanced the secured promissory note related to the Weden dispensary in Santa Ana, California , extending the note’s maturity date to January 1, 2022 , with the ability to extend the maturity date by an additional 12 months upon the satisfaction of certain conditions.
  • M7 completed a non-brokered private placement in March 2021 , resulting in the Company’s receipt of gross proceeds of approximately C$3,314,605 .

Management Commentary

Sturges Karban , M7’s Chief Executive Officer, commented, “Our financial results in 2020 are driven by the successful implementation of our business model throughout California , further positioning M7 as the first integrated business-to-business and direct-to-consumer cannabis superhighway in the state. By remaining focused on redefining the cannabis supply chain and the end-user experience, M7 has continued to change the landscape of cannabis distribution and retail inCalifornia and has emerged as an increasingly differentiated player in the rapidly developing U.S. cannabis industry.”

Karban added, “While 2020 presented itself to be an unparalleled year of challenges brought on by the COVID-19 pandemic, we remained committed to expanding our unique distribution and retail platform across California . Not only did M7 successfully navigate through an unprecedented operating environment during fiscal year 2020, but we also accomplished two integral components of our growth strategy. First, in laying the foundation of M7’s omnichannel platform, we augmented M7’s statewide distribution infrastructure by integrating it with a robust captive retail segment powered by 1-800-CANNABIS, taking a crucial step forward toward optimizing California’s dysfunctional and inefficient cannabis supply chain. Second, through the continued growth of our integrated operations in California , we have created a strategic stronghold in the center of the world’s largest legal cannabis market. Today, we are effectively serving 88% of California’s cannabis market with an opportunity to continue expanding our footprint throughout the state.”

Karban concluded, “As we look ahead into 2021 and beyond, we are keenly focused on executing on our organic growth strategy, while actively evaluating acquisitions and strategic partnerships that will drive shareholder value by focusing on top- and bottom-line growth.”

Conference Call and Webcast Details

M7 will host a related conference call, accessible via telephone and the internet, on Wednesday, March 31, 2021 , beginning at 11:00 a.m. EST to discuss the financial results and business outlook.

Conference Call Dial-In Numbers:

  • Toll-Free: 1-877-423-9813
  • Toll / International: 1-201-689-8573

The call will be available via webcast on M7’s investor page of the Company website at https://www.manifest7.com/investors/ or at this link . Please visit the website at least 15 minutes before the call to register, download, and install any necessary audio software. A replay of the call will be available on M7’s investor page after the conference call has ended.

About ManifestSeven Holdings Corporation

ManifestSeven Holdings Corporation (CSE: MSVN; OTCMKTS: MNFSF) (” M7 ” or the ” Company “) disrupts the California cannabis landscape by seamlessly integrating proprietary distribution, retail, and delivery operations into a unified statewide platform that supports compliant and efficient commerce, both for cannabis enterprises and consumers. M7 offers local on-demand delivery through a growing portfolio of delivery hubs and storefront dispensaries in the state’s major metropolitan markets through its direct-to-consumer division, Weden . Through its business-to-business division, Highlanders Distribution , the Company provides a comprehensive suite of commercial and compliant services to licensed cannabis cultivators, manufacturers, distributors, and retailers operating throughout California . M7’s 1-800-CANNABIS portal ties the Company’s integrated operations together with a centralized gateway through which businesses and consumers can access M7’s comprehensive suite of products and solutions. M7 is a publicly listed company on the Canadian Securities Exchange (” CSE “) trading under the ticker symbol “MSVN”. Additional information is available under the Company’s SEDAR profile at www.sedar.com .

For the latest news, activities, and media coverage, please visit www.manifest7.com . To receive Company updates and be added to the email distribution list, please sign up here , or connect with us on LinkedIn , Twitter , YouTube , or Telegram .

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs and assumptions regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. This forward-looking information is based on certain assumptions made by management and other factors used by management in developing such information. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in its entirety by this notice.

The Company’s securities referred to in this press release 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. Accordingly, the Company’s securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of any offer to buy any Company’s securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cision

View original content: http://www.prnewswire.com/news-releases/manifestseven-reports-record-results-for-fourth-quarter-and-fiscal-year-2020-301259586.html

SOURCE ManifestSeven

Published at Wed, 31 Mar 2021 13:06:40 +0000

GTEC Announces Closing of $23 Million Bought Deal Public Offering of Units

GTEC Announces Closing of $23 Million Bought Deal Public Offering of Units

GTEC Holdings Ltd. GTEC Cannabis Co. (TSXV: GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“GTEC”, the “Company” or “GTEC Cannabis Co.”) announced today the closing of its previously announced bought deal public offering of units (the “Units”) of the Company (the “Offering”). Pursuant to the Offering, GTEC issued 28,750,000 Units at a price of $0.80 per Unit (the “Issue Price”) for aggregate gross proceeds of $23,000,000, which includes the issuance of 3,750,000 Units pursuant to the full exercise of the over-allotment option by the Underwriters (as defined below).Each Unit consists of one common share of GTEC (a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”) of GTEC. Each Warrant entitles the holder to acquire one Common Share at a price of $1.04 (subject to adjustment in certain circumstances) until March 30, 2024, provided that the Company may accelerate the expiry date of the Warrants on not less than 30 days’ notice if the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the “TSXV”) (or such other nationally recognized stock exchange in Canada or the United States where the Common Shares are then listed and principally traded over such period) is equal to, or greater than, $2.00 for any 10 consecutive trading days following the closing of the Offering, upon the Company providing written notice to the holders of the Warrants within 10 trading days following the end of such 10 day period and issuing a news release announcing the acceleration.

It is anticipated that the Warrants will commence trading on the TSXV on Thursday, April 1, 2021 under the symbol “GTEC.WT”, subject to the satisfaction of all listing conditions.The Offering was co-led by Desjardins Capital Markets and Eight Capital as co-lead underwriters and joint book runners (collectively, the “Underwriters”), pursuant to the terms of an underwriting agreement entered into between the Company and the Underwriters.The Offering was made in all provinces of Canada (excluding Québec), pursuant to a short form prospectus dated March 23, 2021 (the “Prospectus”).The Company intends to use the net proceeds from the Offering to repay indebtedness, to fund expansion of the Company’s operating capacity, fund product development and international expansion opportunities, and for general working capital purposes, as further set out in the Prospectus.

A copy of the Prospectus is available under the Company’s profile on SEDAR at www.sedar.com.The securities offered in the Offering 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, persons in the United States or U.S. persons absent registration or an 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 nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.In consideration for their services, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering, subject to a reduced fee equal to 3% for Units sold to certain purchasers designated by the Company on a president’s list (the “President’s List”) and non-transferable broker warrants (the “Broker Warrants”) to purchase that number of Common Shares that is equal to 6% of the Units sold in the Offering, subject to a reduced number of Broker Warrants that is equal to 3% of the Units sold to purchasers on the President’s List. Each Broker Warrant is exercisable at the Issue Price to acquire one Common Share for a period of 36 months following the closing of the Offering.

About GTEC GTEC Cannabis Co. cultivates, markets, and distributes handcrafted, high quality cannabis products. The Company has four operational facilities licenced by Health Canada and is currently distributing cannabis through medical and recreational sales channels.GTEC’s premium quality recreational cannabis brands includes; BLK MKT™, Tenzo™, Cognoscente™ and Treehugger™, which are crafted from unique cultivars, and sold in British Columbia, Ontario, Saskatchewan, Manitoba and Yukon. The Company’s medical cannabis brand, GreenTec™, is distributed nationwide to qualified patients through its GreenTec Medical website and various licensed partners.GTEC is a publicly traded corporation, listed on the TSXV (GTEC), OTCQB Venture Market (GGTTF) and Frankfurt Stock Exchange (1BUP). The Company’s headquarters is located in Kelowna, British Columbia and has operations in British Columbia, Alberta and Ontario.To learn more about the Company or to access the most recent Corporate Presentation, please visit the Company’s website at www.gtec.co.Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking StatementsThis news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions including: with respect to the timing of and final approval for the listing of the Warrants on the TSXV; the anticipated use of proceeds from the Offering; the ability of the Company to identify and pursue international opportunities; and expectations for other economic, business, and/or competitive factors.Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; potential conflicts of interest; the Canadian regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the Company’s final short form prospectus dated March 23, 2021, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

For additional information, please contact:
GTEC Cannabis Co.
1-800-351-6358
contact@gtec.co

Source: GTEC Holdings Ltd.

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Published at Tue, 30 Mar 2021 13:27:51 +0000

Investing In The Green Rush