Posted by AGORACOM-JC
at 9:48 PM on Wednesday, July 3rd, 2019
The cannabis retail market represents a massive opportunity and it is much less saturated when compared to the cannabis cultivation opportunity
The company, Spyder Cannabis (SPDR: TSX Venture) recently completed a go-public transaction and has been flying under the radar
By Anthony Varrell
During the last year, the amount of interest in the legal cannabis
industry has significantly increased and most of this attention has been
focused on North America. This is a trend that we have been excited
about as it has benefited the companies that are levered to the
burgeoning cannabis market.
Earlier this month, we came across a cannabis business that is
focused on the North American cannabis retail opportunity. The cannabis
retail market represents a massive opportunity and it is much less
saturated when compared to the cannabis cultivation opportunity. The
company, Spyder Cannabis (SPDR: TSX Venture) recently completed a go-public transaction and has been flying under the radar.
Spyder Cannabis is an emerging opportunity that is focused on
expanding into legal cannabis and hemp industry. The company has
developed a scalable retail model that includes an aggressive expansion
plan that is focused on creating a significant retail footprint while
being highly focused on securing strategic partners.
Spyder Cannabis will utilize a targeting retail distribution strategy
and will focus on the cannabis retail opportunity in Canada and the US.
The company plans to open retail outlets in high-traffic locations and
we are favorable on this approach.
Spyder Cannabis: An Execution Story to be Watching
One of the reasons we are excited about Spyder Cannabis is due to the
focus on the cannabis opportunity in the US and Canada. These two
markets represent massive opportunities for the company and we are
bullish on the growth prospects associated with these markets. Spyder
Cannabis will be utilizing a specific strategy to capitalize on each
market and we find this to be significant. There are massive differences
between the Canadian and the US cannabis market which has made the
opportunity for Spyder even more significant.
An attractive aspect of Spyder Cannabis’ expansion plan is related to
its plans to partner with a variety of developers to sign lease
agreements for prime real estate in close proximity to senior living,
sporting venues and malls throughout the US. The company plans to
initially focus on the opportunity in California, Florida, Michigan and
New York, and we will monitor how the team is able to open new retail
outlets and increase market share in the US.
When a company is looking to open a cannabis retail operation, there
are countless factors that must be considered. We believe that Spyder
Cannabis has the right approach to opening locations and will monitor
how the team is able to execute on its expansion strategy. By targeting
the aging, athletics and health and wellness community, the company
should be able to de-risk its expansion plan and we find this to be
significant aspect of the story
Spyder Cannabis is developing a proprietary product line of
hemp-derived ointments, oils, capsules and topical creams for the aging,
sports and health and wellness space. The products will be sold
directly to consumers through both kiosks and retail stores throughout
the US. We are favorable on the markets the company is focused on and
the strategy to reach consumers. Over the next year, we expect the US
market to be a major value driver to Spyder Cannabis and this is an
opportunity that we will continue to monitor.
A US Cannabis Retail Expansion Story
When looking at Spyder Cannabis’ approach to capitalizing on the US
cannabis market, the first thing to stand out are the states that the
company is focused on. Currently, Spyder is executing on an expansion in
California, Florida, Michigan, and New York. These are four of the most
exciting markets in the US and we are favorable on the growth prospects
associated with these markets.
Spyder Cannabis is focused on opening branded boutique retail stores
and kiosks in burgeoning cannabis markets in the US. The company has
been working tirelessly on this expansion and has been successfully
increasing market share in the states that it has entered. Over the next
year, we expect to see the company build upon its existing footprint
and are favorable on the value that can be created through this
expansion.
By 2020, Spyder Cannabis plans to open between 30 to 50 boutique
retail stores and kiosks and has developed a cost-effective strategy in
order to execute on this. The company is focused on opening locations
that require a limited amount of capital expenditures that are in
secondary and tertiary markets and located in high-traffics areas.
Specifically, Spyder Cannabis plans to open stores that are located
close to malls, retirement centers, and sporting events.
A Canadian Expansion Story
When it comes to the Canadian cannabis opportunity, Spyder Cannabis
has been executing on a nationwide expansion and already has three
operational Spyder Vape stores open in Ontario. Over the next year, the
company plans to significant increase its reach in Canada and plans to
open 20 retail locations in Ontario, 5 retail locations in Alberta, and 5
retail locations in British Columbia.
Currently, there are two additional Spyder Vape stores under
construction in Ontario and we will monitor how the management team is
able to execute on this expansion. The company has been granted a
development permit for a retail location in Alberta and we are favorable
on the growth prospects associated with this market.
When it comes to the cannabis retail opportunity in Ontario, Spyder
Cannabis is strategically positioning itself throughout the province
through the opening of Spyder Vape stores. Once the company has received
the necessary permits, it plans to convert these outlets to cannabis
retail locations and we are favorable on the strategy in place.
Alberta represents a different type opportunity when it comes to the
cannabis retail market. Currently, there is a cannabis supply shortage
and the province has put a hold on issuing retail licenses. This has
caused a steep decline in the price of development permits and Spyder
Cannabis has been focused on acquiring permits for high-traffic
locations.
An Industry Leader in the Making
Spyder Cannabis wants to become the most recognizable brand of
independent retail stores and kiosks throughout North America. The
company is focused on offering best-in-class cannabis products and
tailored retail experiences in order to attract consumers and we are
favorable on this approach. Spyder Cannabis has strategic partnership
with more than 30 premium cannabis vendors and offers an industry
leading portfolio of cannabis products.
One of the reasons we are bullish on Spyder Cannabis is due to the
way that the management has positioned the business. The company is led
by an executive team that has a proven track record of success and that
has positioned the business to capitalize on the North American cannabis
market. We are favorable on the growth prospects associated with the
planned expansion and will monitor how the company continues to expand
across North America.
We are favorable on the strategic relationships that Spyder Cannabis
has been able to secure and find this to be an attractive aspect of the
story. From real estate partners to cannabis brand partners, the company
has done a fantastic job at pooling together its relationships to
support all facets of the business. Spyder Cannabis will be leveraging
its contacts for increased brand awareness and cross-selling
opportunities. We are favorable on this strategy when it comes to
becoming a leading cannabis brand and will be monitoring how the team
executes on this.
Spyder Cannabis is a company that has significant potential catalysts
for growth and this is an opportunity that we are excited about. To
learn more about the North American cannabis company, please reach out
to [email protected].
Pursuant to an agreement between StoneBridge Partners LLC and Spyder
Cannabis we have been hired for a period of 30 days beginning June 11,
2019 and ending July 11, 2019 to publicly disseminate information about
(SPDR) including on the Website and other media including Facebook and
Twitter. We are being paid $6,750 per month (SPDR) for or were paid
“ZERO†shares of unrestricted or restricted common shares. We own zero
(0) shares of (SPDR), which we purchased in the open market. We plan to
sell the “ZERO†shares of (SPDR) that we hold during the time the
Website and/or Facebook and Twitter Information recommends that
investors or visitors to the website purchase without further notice to
you. We may buy or sell additional shares of (SPDR) in the open market
at any time, including before, during or after the Website and
Information, provide public dissemination of favorable Information.
Posted by AGORACOM-JC
at 3:24 PM on Wednesday, July 3rd, 2019
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Newzoo opens up on $1 billion esports valuation after criticism
Steven R. July 3, 2019
In a lengthy article, the analytics firm opened up on its process and subtly pushed back against implications that they have been overly bullish regarding the future of the industry
It also pulled back the curtain on its valuation methods and offered a breakdown of how it sees the esports industry today.
Newzoo is giving a bit of insight into their frequently cited statistics on the growth of the esports industry.
In a lengthy article,
the analytics firm opened up on its process and subtly pushed back
against implications that they have been overly bullish regarding the
future of the industry. It also pulled back the curtain on its valuation
methods and offered a breakdown of how it sees the esports industry
today.
“For esports data, publicly available financial information is scarce
due to the relative youth of the industry,†Newzoo CEO Peter Warman
said. “We, therefore, partner directly with numerous esports
organizations across the globe… We receive their actual revenue data
each quarter, providing us with a strong data-backed foundation for
forecasting sponsorships, advertising revenues, and media rights deals,
as well as merchandise earnings and fees spent on organizers.â€
Though Newzoo does not specifically name names, the article seems to
be a response to recent wide-ranging discussions that firms have been
overstating esports’ reach and value to prospective investors. These
concerns were detailed at length in a report by Cecilia D’Anastasio of Kotaku,
who tackled this issue on a number of fronts. Kotaku’s anonymous
sources discussed the industry in terms ranging from “inflated†to
“completely unsustainable.â€
The report discusses Newzoo specifically, with esports insiders from
multiple areas of the industry questioning the legitimacy of their
methods. The eye-popping numbers from Newzoo and other similar outlets
offer a great deal of sizzle to uninitiated financiers, possibly without
enough steak to go along with it.
To counter this, Newzoo honed in on its oft-cited $1 billion “global esports market revenue estimate.â€
The number has been thrown around by many different outlets without
proper context, which has led to accusations that the company was
actively trying to inflate the industry. Newzoo gave a detailed
breakdown on how it reached that valuation, accounting for different
regions and areas of the industry.
The chart shows the different sources of revenue and what percentage
that accounts for in each region. This highlights some of the key
differences in business models between major markets, with advertising
being huge in Asia while media rights make up a much larger chunk of
North America.
Despite the post likely being a reaction to claims that its numbers were overstated, Warman stood by his firm’s math.
Posted by AGORACOM-JC
at 11:31 AM on Thursday, June 27th, 2019
Life of mine (LOM) of 14 years, with 6 million tonnes annually of potential process plant feed at an average grade of 0.88 g/t Palladium Equivalent (PdEq) and process recovery rate of 80%, resulting in an annual average payable Pd production of 119,000 ounces
Pre-Production capital requirements: $495 M
Undiscounted cash flow before income and mining taxes of $586M
Undiscounted cash flow after income and mining taxes of $384M
June 27th, 2019 – Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) Harry Barr, Chairman & CEO, stated; “We are pleased to update our shareholders and interested parties as to the results of the initial Preliminary Economic Assessment (PEA) for the company’s 100% owned River Valley PGM Project in Sudbury, Ontario Canada. The PEA has been developed by various independent consultants – P&E Mining Consultants Inc. (P&E) was responsible for the open pit mining, surface infrastructure, tailings facility, and project economics; DRA Americas Inc. (“DRA”) was responsible for all metallurgical test work and processing aspects of the Project; and WSP Canada Inc. (“WSP”) was responsible for the Mineral Resource Estimate. The PEA demonstrates positive economics for a large-scale mining open pit operation, with 14 years of Palladium and Platinum production.”
Go-Forward Plan: In
order to enhance the Project, the PEA has outlined a phased work
approach to completing a Pre-Feasibility study. This includes advanced
metallurgical testing to improve / confirm process recoveries and more
accurately estimate concentrate grades, geotechnical logging of drill
core, with new geotechnical holes to create a 3D geomechanical block
model and estimate pit wall angles, hydrogeological studies that will
estimate water inflows to the open pits and generate a site water and
management plan. The Pre-Feasibility study will update the Project study
to a higher level of precision.
NAM plans to continue to improve
the River Valley Project’s value proposition by drill testing
geophysical anomalies found during the 2018 geophysics campaign,
continuing the geophysical program throughout the 16 kilometres of the
contact mineralization adding significant potential to find new
deposits, drilling near the defined open pit shells to increase the mine
life, drilling deeper to test the open-ended Deposit at depth, and
re-assaying existing drill core for Rhodium in order that Rhodium may be
added to the Project’s metal suite.
Technical Report: For
readers to fully understand the information in this news release, they
should read the PEA Technical Report in its entirety which the Company
expects to file in accordance with NI 43-101 within 45 days from the
date of this news release on SEDAR (www.sedar.com)
and it will also be available at that time on the New Age Metals
website, including all qualifications, assumptions and exclusions that
relate to the PEA. The Technical Report is intended to be read in its
entirety, and sections should not be read or relied upon out of context.
PEA Highlights (CDN$ unless otherwise noted):
– Life of mine (LOM) of 14 years,
with 6 million tonnes annually of potential process plant feed at an
average grade of 0.88 g/t Palladium Equivalent (PdEq) and process
recovery rate of 80%, resulting in an annual average payable Pd
production of 119,000 ounces
– Pre-Production capital requirements: $495 M
– Undiscounted cash flow before income and mining taxes of $586M
– Undiscounted cash flow after income and mining taxes of $384M
– Average unit operating cost of $19.50/tonne over the life-of-mine
– LOM average operating cash cost
of $971 per ounce (US$709/oz) and all-in sustaining cash cost of $972
per ounce (US$709/oz) at a 1.37 CDN: USD exchange rate.
– A mining contractor will be engaged for the open pit mining
– Pre-tax NPV (5%): $262M, After-tax NPV (5%): $139 M
– Pre-tax IRR: 13%, After-tax IRR: 10%
– Assumed metal prices of US$1,200/oz Pd, US$1,050/oz Pt, US$1,350/oz Au, US$3.25/lb Cu, US$8.00/lb Ni, US$35/lb Co
– Using a + 20% Pd price
sensitivity (to the base case of US$1,200/oz Pd) US$1,440 /oz Pd returns
a pre-tax IRR of 19% and an after tax-IRR of 15%. Palladium price as of June 25, 2019 is US$1,510/oz Pd, which would return a pre-tax IRR of 21% and an after-tax IRR of 16%.
– River Valley process plant feed will be treated by a conventional sulphide flotation process plant to produce a single saleable PGM concentrate that will be transported to the Sudbury area for smelting/refining
– Potential for up to 325 jobs at the peak of production
PEA Summary
The PEA parameters are summarized in Table 1.
(*) Cautionary statement NI 43-101:
The PEA was prepared in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects (“NI 43-101”). Readers are
cautioned that the PEA is preliminary in nature. It includes Inferred
Mineral Resources that are considered too speculative geologically to
have the economic considerations applied to them that would enable them
to be categorized as Mineral Reserves, and there is no certainty that
the PEA will be realized. Mineral Resources that are not Mineral
Reserves do not have demonstrated economic viability. All currency is stated as CDN$ unless stated otherwise.
Table 1: PEA Summary Parameters
Assumptions
Palladium Price (Base case) US$/oz
1,200
Exchange Rate US$:CDN$
1.37
Production Profile
Total Tonnes Processed
78,100,000
Process Plant Head Grade PdEq g/t
0.88
Mine Life (years)
14
Daily process plant throughput (tpd)
16,440
Palladium Process Plant Recovery
80%
Total Payable Palladium Equivalent Ounces
1,600,000
Average annual Palladium Production Ounces
119,000
Operating Costs
Unit Operating Costs (per tonne processed)
19.50
Mining Costs
10.20
Processing Costs
8.44
G&A
0.90
LOM Average Cash Cost US$/oz
709
Capital Requirements
Pre-Production Capital Cost
$495.1 M
Sustaining Capital Cost (Life of Mine) Including Salvage
$1.0 M
Project Economics
Royalties
3% (Buy down to 1.5% with $1,500,000 payment)
Royalty Payable After $1.5M Payment
$39.7 M
Taxes
$202.3 M
Pre-Tax
NPV (5% Discount Rate)
$262 M
IRR
13%
Payback (years)
6.6
Cumulative Undiscounted Cash Flows
$586 M
After-Tax
NPV (5% Discount Rate)
$139 M
IRR
10%
Payback (years)
7.0
Cumulative Undiscounted Cash Flows
$384 M
Operating Cost
Table 2: Operating Cost Summary.
OPERATING COST
LOM ($/t)
Mining Cost
$/t material
2.28
Mining Cost
$/t feed
10.20
Processing Cost
$/t feed
8.44
G&A
$/t feed
0.90
Unit Operating
$/t feed
19.50
Capital Cost
Table 3: Capital Cost Summary
Development Capital
Initial (Y-2, Y-1) ($ M)
Sustaining ($’ M)
Total LOM ($’ M)
Mine Pre-Stripping
17.3
17.3
Process Plant Incl. Indirects
401.3
401.3
TMF
8.0
8.0
Mine Site Infrastructure
10.0
10.0
Office, Warehouse, Shops
10.0
10.0
Owner Cost
5.0
5.0
10% Contingency
43.4
43.4
Initial Project Capital
495.1
495.1
Sustaining Capital
Closure Bond
26.0
26.0
Salvage Value
-25.0
-25.0
Total Sustaining Capital
1.0
1.0
Total Capital
495.1
1.0
496.1
Project Economics and Sensitivities
The economic results of the PEA are
summarized in Table 4 on an after-tax basis. The sensitivities and the
impact of cash flows have been calculated for +/- 20% variations against
the base case.
Table 4: Project Economics Sensitivity.
Project Sensitivity Analysis
Pd Price Sensitivity
%
-20%
-15%
-10%
-5%
Base Case
+5%
+10%
+15%
+20%
Spot
US$/oz
960
1,020
1,080
1,140
1,200
1,260
1,320
1,380
1,440
1,510
NPV (CDN$ M)
-23
16
59
98
139
179
220
260
300
347
IRR (%)
4
6
7
8
10
11
12
13
15
16
OPEX Sensitivity
%
-20%
-15%
-10%
-5%
Base Case
+5%
+10%
+15%
+20%
Cost Per Tonne
16
17
18
18
19
20
21
22
23
NPV (CDN$ M)
212
194
175
157
139
120
102
83
68
IRR (%)
14
12
11
10
10
9
8
7
7
CAPEX Sensitivity
%
-20%
-15%
-10%
-5%
Base Case
+5%
+10%
+15%
+20%
CAPEX (CDN$ M)
397
422
446
471
496
521
546
570
595
NPV (CDN$ M)
284
248
212
175
139
102
64
28
-6
IRR (%)
14
13
12
11
10
8
7
6
5
River Valley Project Site Plan
See the image below that shows a site
plan from the River Valley PEA. The map shows all of the 14 open pits
that have been used in the engineering design of the Project as well as
the proposed process plant site, low-grade stockpile, waste rock storage
facilities, tailings storage facility and site infrastructure.
Click Image To View Full Size
Mineral Resource
The pit constrained Mineral Resource
Estimate which formed the basis of the PEA, is set out in Table 5 and
was prepared by WSP under the supervision of Todd McCracken, P. Geo., an
“Independent Qualified Person”, as defined in NI 43-101. The effective
date of this Mineral Resource Estimate is January 9, 2019. The Mineral
Resource database contains 710 boreholes with 106,554 assays records in
the database, and 2,642 surface channel samplings. The Mineral Resource
Estimate update was completed on the Dana North, Dana South, Pine,
Banshee, Lismer, Lismer Extension, Varley, Azen, Razor, and River Valley
Extension Zones, using the ordinary kriging (OK) methodology on a
capped and composited borehole dataset consistent with industry
standards. Validation of the results was conducted thought the use of
visual inspection, swath plots and global statistical comparison of the
model against inverse distance squared (ID2) and nearest neighbour (NN) models.
Table 5: Pit Constrained Mineral Resource Estimate for River Valley PGM Project – Effective January 9, 2019.
Click Image To View Full Size
Class
PGM + Au (oz)
PdEq (oz)
PtEq (oz)
Measured
1,394,000
1,701,000
1,701,000
Indicated
983,000
1,166,000
1,166,000
Meas +Ind
2,377,000
2,867,000
2,867,000
Inferred
841,000
1,059,000
1,059,000
Notes:
1.CIM definition standards were followed for the Mineral Resource Estimate.
2.The 2018 Mineral
Resource models used Ordinary Kriging grade estimation within a
three-dimensional block model with mineralized zones defined by
wireframed solids.
3.A base cut-off
grade of 0.35 g/t PdEq was used for reporting Mineral Resources in a
constrained pit and 2.00 g/t PdEq was used for reporting the Mineral
Resources under the pit.
6.Mineral Resources that are not Mineral Reserves do not have economic viability
7. The Inferred
Mineral Resource in this estimate has a lower level of confidence than
that applied to an Indicated Mineral Resource and must not be converted
to a Mineral Reserve. It is reasonably expected that the majority of the
Inferred Mineral Resource could be upgraded to an Indicated Mineral
Resource with continued exploration.
Mining and Processing
The PEA is preliminary
in nature, and includes Inferred Mineral Resources that are considered
too speculative geologically to have the economic considerations applied
to them that would enable them to be categorized as
Mineral Reserves. There is no certainty that the Preliminary Economic
Assessment will be realized.
The River Valley Project is expected
to be mined by a contractor. Initial mining will occur at the northwest
end of the Deposit, close to the proposed process plant site. A series
of 14 open pits will be mined, and will progress in a southeasterly
direction. Pit numbers 1 to 4 contain the bulk of the mineralized
process plant feed.
Annual process plant feed of up to 6
Mtpy (0.5 Mtpm) is planned, at an average strip ratio of 3.6:1 over the
life-of-mine. It is anticipated that a fleet of 221 t haul trucks, 29 m3
excavators and 254 mm diameter hole rotary drills will be utilized,
following industry standard conventional open pit mining techniques.
The process plant is designed to
produce a single saleable PGM concentrate using conventional sulphide
flotation techniques. The concentrate will be trucked to a
smelter/refinery in the Sudbury area.
The Run-Of-Mine (ROM) feed from the
mine will be crushed in a single primary jaw crushing stage prior to the
grinding circuit. The crusher discharge will be conveyed to a live
stockpile, which will provide an operating buffer between the crushing
and grinding circuits.
The grinding circuit will consist of a SAG mill in closed circuit with a pebble crusher and two ball mills in parallel.
The process plant design considers
three stages of cleaner flotation and is designed to process 21,920 tpd
(6.0 Mtpy) of ROM feed.
The flotation circuit configuration and design are based on the locked cycle tests conducted by SGS Canada in 2013.
Concentrate and tailings products
will be dewatered using high-rate thickeners and the concentrate will be
further dewatered by conventional plate and frame vacuum filtration.
Process water will be recovered from
the concentrate and tailings thickener overflow. Raw water is assumed to
be sourced from the local environment and will be used as makeup water.
It is assumed that 10% of the raw water requirement will be recycled
from the tailings pond.
Conventional tailings deposition techniques will be utilized.
A 230 kV transmission line is located
passing through the village of Warren, approximately 22 km from the
Project. A 115 kV transmission line passes through the village of Field,
located approximately 15 km to the east of the Project. It is assumed
that electrical power will be provided by the local utility via either
of these overland power lines. Diesel generators will be used to supply
emergency power.
Project Enhancement Opportunities
The PEA demonstrates that River
Valley has the potential to be economically viable. The PEA also
outlines several opportunities to enhance Project value. Additional
opportunities include:
Area of Focus
Opportunities to Explore
Management Target
Geotechnical study
– Geotechnical logging of drill core,
with new geotechnical holes to create a 3D geomechanical block model
and estimate pit wall slope angles
– Estimate pit wall slopes
Hydrogeological study
– Estimate water in-flows to the open pits and generate a site water management plan
– Site water management plan
Increase the Project Mineral Resource base
– Additional drilling in the footwall to expand the Mineral Resource.
After the ground proofing and surface exploration program conducted in
Summer 2018 which followed up on the most recent induced polarization
geophysical survey by Abitibi, NAM management has designed a 3-phase
5,000 metre drill program to test the new geophysical anomalies. See the
map figure below which shows these new geophysical anomalies and
potential targets for the next stage of drilling at River Valley
superimposed over the upper 4 kilometres of the project map.
Click Image To View Full Size
– Drilling near the defined open pit shells to increase the mine life.
– Drilling deeper to test the open-ended deposit at depth. Average drill hole depth is 220 metres below surface.
– Increase tonnes, grade and mine life of Project
– Continue to drill recent footwall discoveries
– Add additional Mineral Resources to the Project.
Mineral Resource
– In-fill drilling to convert Inferred Mineral Resources to Indicated Mineral Resources
– Improve Mineral Resource classification
Mineral Resource
– Step-out drilling to increase the Mineral Resource Estimate
– Increase the size of the Mineral Resource Estimate
Metallurgical testing
– Advanced metallurgical testing to
confirm or potentially improve process recoveries and more accurately
estimate concentrate grades produced
– Achieve a process recovery equal or greater than 80%.
Geophysical surveys
– Continue with induced polarization
geophysical surveys over the 12.5 kilometres of the contact / footwall
that has not been surveyed in the 2017 and 2018 programs
conducted on the Project. This work can be carried out in phases as
funding is available or until the contact / footwall is covered, see the
map figure below that shows a proposed scenario for how to phase the
work.
Click Image To View Full Size
– Outline new targets highlighting new potential footwall discoveries over the entire Project
Advanced sampling for Rhodium
– Re-assaying existing core for
Rhodium. Rhodium has been identified, however, insufficient assaying in
the past has not allowed for Rhodium’s inclusion in the Mineral Resource
Estimate.
– Quantify the amount of Rhodium in the Project and add this to the existing Mineral Resource Estimate
Pre-Feasibility study
– Updated Mineral Resource Estimate,
optimize the mine plan, process plant design, and Project economics.
Address environmental aspects.
– Update the Project study to a higher level of precision
Qualified Persons and NI 43-101 Disclosure
The PEA was prepared under the supervision
of Eugene Puritch, P.Eng. of P&E Mining Consultants Inc. The Mineral
Resource Estimate was prepared by Todd McCracken, P.Geo. of WSP Canada
Inc. Metallurgical testwork and process plant design and cost estimates
were prepared by Jim Kambossos, P. Eng. of DRA Americas
Inc. All three are independent Qualified Persons in accordance with NI
43-101. Mr. Puritch has reviewed and approved the technical information
in this release. Michael Neumann, P.Eng. Managing Director for NAM is
the company Qualified Person as defined by National Instrument 43-101
and has reviewed and approved the technical content of this news
release.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr, Chairman and CEO
For further information on New Age Metals,
please contact Harry Barr and/or Anthony Ghitter, Business Development
at 613-659-2773, or [email protected]
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward
Looking Statements: This release contains forward-looking statements
that involve risks and uncertainties. These statements may differ
materially from actual future events or results and are based on current
expectations or beliefs. For this purpose, statements of historical
fact may be deemed to be forward-looking statements. In addition,
forward-looking statements include statements in which the Company uses
words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”,
“confident”, “intend”, “strategy”, “plan”, “will”, “estimate”,
“project”, “goal”, “target”, “prospects”, “optimistic” or similar
expressions. These statements by their nature involve risks and
uncertainties, and actual results may differ materially depending on a
variety of important factors, including, among others, the Company’s
ability and continuation of efforts to timely and completely make
available adequate current public information, additional or different
regulatory and legal requirements and restrictions that may be imposed,
and other factors as may be discussed in the documents filed by the
Company on SEDAR (www.sedar.com), including the most recent reports that
identify important risk factors that could cause actual results to
differ from those contained in the forward-looking statements. The
Company does not undertake any obligation to review or confirm analysts’
expectations or estimates or to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
Investors should not place undue reliance on forward-looking statements.
Posted by AGORACOM-JC
at 7:39 AM on Wednesday, June 26th, 2019
Announced that, in celebration of Canada Day, it will launch its new Hemp Energy Drink line over the Canada Day long weekend, on June 29, across its existing Ontario locations, as well as its two brand new accessories stores in Niagara Falls and Pickering, set to open this weekend.
Samples will be available at all locations.
Vaughan, Ontario–(June 26, 2019) – Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder Cannabis” or the “Company“) is excited to announce that, in celebration of Canada Day, it will launch its new Hemp Energy Drink line over the Canada Day long weekend, on June 29, across its existing Ontario locations, as well as its two brand new accessories stores in Niagara Falls and Pickering, set to open this weekend. Samples will be available at all locations.
As previously disclosed in the Company’s press release of June 18,
2019, Spyder Cannabis signed an exclusive agreement with Tetra Natural
Health, a subsidiary of Tetra Bio-Pharma (TSXV: TBP) (OTCQB: TBPMF), to
distribute the three flavors of its Hemp Energy Drink in cannabis
accessory stores, vape stores, and kiosks in Canada and the United
States.
“We are thrilled to launch a premium brand, the Hemp Energy Drink, to
our customers this Canada Day long weekend, starting June 29th. This is
a historic time for the Canadian hemp industry, and we are excited to
be at the forefront of the retail and wholesale distribution of
innovative new products. Our focus is on providing unique and
distinctive quality hemp derived options, specially curated to meet the
needs of all Canadians. We are looking forward to sharing our products
throughout Canada,” stated Daniel Pelchovitz, CEO and President of
Spyder.
Founded in 2014 Spyder is an established chain of three high-end vape
stores in Ontario, with stores located in Woodbridge, Scarborough and
Burlington. The Spyder brand is defined by its high-quality proprietary
line of e-juice, liquids and exclusive retail deals, dispensed in
uniquely designed stores creating the optimal customer experience.
Spyder is building off this leading retail, distribution and branding
eCig and vapes company and expanding into the legal cannabis and hemp
derived market. Spyder has developed a scalable retail model with
aggressive expansion plan to create a significant retail footprint with
targeted and disciplined retail distribution strategy focusing on
Canadian retail and U.S. hemp kiosks in high traffic peripheral areas.
About Tetra Natural Health:
Tetra Natural Health Inc. is a subsidiary of Tetra Bio-Pharma Inc.
that focuses on identification, development and marketing of hemp or
cannabis-based natural health products, or cannabinoids-based products
authorized for sale by Health Canada. For more information, visit: www.tetranaturalhealth.com.
About Tetra Bio-Pharma:
Tetra Bio-Pharma (TSXV: TBP) (OTCQB: TBPMF) a biopharmaceutical
leader in cannabinoid-based drug discovery and development with a Health
Canada approved and FDA reviewed clinical program aimed at bringing
novel prescription drugs and treatments to patients and their healthcare
providers. Tetra Bio-Pharma has subsidiaries engaged in the development
of an advanced and growing pipeline of Bio Pharmaceuticals, Natural
Health and Veterinary Products containing cannabis and other medicinal
plant-based elements. With patients at the core of its mission, Tetra
Bio-Pharma is focused on providing rigorous scientific validation and
safety data required for inclusion into the existing bio pharma industry
by regulators, physicians and insurance companies. For more information
visit: www.tetrabiopharma.com
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release includes statements containing certain
“forward-looking information” within the meaning of applicable
securities laws (“forward-looking statements”). Forward-looking
statements are frequently characterized by words such as “plan”,
“continue”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “potential”, “proposed” and other similar
words, or statements that certain events or conditions “may” or “will”
occur.
These statements are only predictions. Various assumptions were
used in drawing the conclusions or making the projections contained in
the forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made. Any number of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Spyder Cannabis Inc. Dan Pelchovitz President & Chief Executive Officer Telephone: (905) 265-8273 Email: [email protected]
Posted by AGORACOM-JC
at 12:14 PM on Tuesday, June 25th, 2019
Entered into a binding letter of intent, effective June 23, 2019, to acquire all of the issued and outstanding securities of Nevada Botanical Science, Inc.
Transaction valued at USD$7Â million
Located in Reno, Nevada
Medical and adult use licenses for cultivation extraction and distribution.
NBS currently operates a 5,000 sq. ft. indoor cultivation facility and have been approved for expansion of up to 100,000 sq. ft.
TORONTO, June 25, 2019 — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that it has entered into a binding letter of intent (“LOIâ€), effective June 23, 2019, to acquire all of the issued and outstanding securities of Nevada Botanical Science, Inc. (“NBSâ€) in a transaction valued at USD$7 million.    Â
Nevada Botanical Science is located in Reno, Nevada. They hold
medical and adult use licenses for cultivation extraction and
distribution. NBS’ operation is located on 3.2 acres of land within the
Reno green zone industrial park. NBS currently operates a 5,000 sq. ft.
indoor cultivation facility and have been approved for expansion of up
to 100,000 sq. ft. The property also houses an extraction facility and
commercial kitchen capable of manufacturing beverages and edibles.
Operated by healthcare professionals, NBS has been primarily focused on
the cultivation and manufacturing of medical cannabis products. NBS
currently manufactures and sells award winning* (Jack Herer Cup 2018)
topical pain creams, balms and lotions under the Trichomic brand.
“We are very excited to have the opportunity to enter the Nevada
market,†said Ryan Brown, CEO of NORTHBUD. “The Nevada market is
considered one of the best markets in America with recreational sales of
USD$580 million in the first full year of legalization* (2017 Nevada
Dept. of Taxation). Assuming the successful closing of the proposed
transaction with NBS and our previously announced transactions with
Eureka Vapor and Tanforan Ventures, we are building an excellent
platform in the 3 largest markets in the United States on which to build
our brand focused strategy.â€
“The NBS team is pleased to be entering into this agreement with
NORTHBUD, as we believe that NORTHBUD and its brands will be a perfect
addition to our existing medical business and allow us to capitalize on
the Nevada recreational market,†said Robert Dalrymple, MD., CEO of
Nevada Botanical Science.
Transaction Terms The
proposed transaction (the “Transactionâ€) is currently structured as a
share purchase agreement whereby in exchange for the purchase of all of
the securities of NBS, NORTHBUD will pay USD$6M in cash and issue USD$1M
in common shares (“Common Sharesâ€) to the shareholders of Nevada
Botanical Science (the “NBS Shareholdersâ€) with the price per Common
Share to be determined based on a formula of the higher of (a) CAD$0.35
per Common Share and (b) the 30-day volume weighted average price
(“VWAPâ€) calculated on the closing date (the “Closing Dateâ€) of a
definitive agreement in respect of the Transaction (the “Definitive
Agreementâ€). In addition, NORTHBUD has agreed to loan up to USD$500,000
under a promissory note to NBS while the companies work towards a
definitive agreement. Specific terms of the promissory note are not yet
determined, however any amounts loaned to NBS under the promissory note
will be fully refundable and may be converted into equity in NBS, at the
option of NORTHBUD, in the event that the transaction is not completed.
NORTHBUD and NBS Shareholders expect to enter into the Definitive
Agreement on or before October 1, 2019.
The Transaction is a significant acquisition but will not result in a
“Fundamental Change†pursuant to the policies of the Canadian
Securities Exchange (“CSEâ€). Financial information on NBS will be
disclosed following receipt of audited financial statements in
connection with the Company’s due diligence. NORTHBUD will be preparing
the necessary corporate and securities filings in order to secure the
required approvals for the Transaction.
NORTHBUD has agreed to pay up USD$280,000 in broker/finder fees to
arm’s length parties in connection with the closing of the Transaction.
The closing of the Transaction is conditional on the receipt by the
parties of applicable corporate and regulatory approvals including that
of the CSE.
While the proposed transactions involving NBS, Tanforan Ventures and
Eureka Vapor are complementary, they are independent and the Company may
ultimately proceed to close one, two, all or none of the proposed
transactions, depending on market conditions and regulatory
requirements.
About Nevada Botanical Science, Inc. Founded by a
group of northern Nevada physicians and healthcare professionals who
believe in the promise of medical cannabis, Nevada Botanical Science has
developed a world class cannabis production, research and development
facility in Reno’s Washoe County. Its work and commitment are fully in
compliance with the Hippocratic Oath as well as Nevada statute. Nevada
Botanical Science is dedicated to ensuring the highest measure of
safety, governance and stewardship for its patients, employees and the
community it serves.
About North Bud Farms Inc. North Bud Farms Inc.,
through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a
licence under The Cannabis Act. The Company is constructing a
state-of-the-art purpose-built cannabis production facility located on
95 acres of Agricultural Land in Low, Quebec. North Bud Farms Inc. has
entered into agreements to acquire assets in California, Colorado and
Nevada.
Neither the Canadian Securities Exchange (the “CSEâ€) nor its
Regulation Services Provider (as that term is defined in the policies of
the CSE) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements Certain statements
included in this press release constitute forward-looking information or
statements (collectively, “forward-looking statementsâ€), including
those identified by the expressions “anticipateâ€, “believeâ€, “planâ€,
“estimateâ€, “expectâ€, “intendâ€, “mayâ€, “should†and similar expressions
to the extent they relate to the Company or its management. The
forward-looking statements are not historical facts but reflect current
expectations regarding future results or events. This press release
contains forward- looking statements including those relating to the
entering into of the Definitive Agreement, closing of the Transaction
and associated approvals, Nevada Botanical Science’s ability to achieve
milestones under the Definitive Agreement and associated Common Share
issuances. These forward-looking statements are based on current
expectations and various estimates, factors and assumptions and involve
known and unknown risks, uncertainties and other factors. Such risks and
uncertainties include, among others, the risk factors included in North
Bud Farms Inc.’s final long form prospectus dated August 21, 2018 which
is available under the issuer’s SEDAR profile at www.sedar.com.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: North Bud Farms Inc. Edward Miller VP, IR & Communications Office: (855) 628-3420 ext. 3 [email protected]
Posted by AGORACOM-JC
at 8:37 AM on Monday, June 24th, 2019
SPONSOR: North Bud Farms Inc. (NBUD:CSE) Sustainable low cost, high
quality cannabinoid production and procurement focusing on both
bio-pharmaceutical development and Cannabinoid Infused Products. Learn More.
NBUD: CSE
—————
Deloitte: Canada on verge of CA$2.7 billion infused cannabis market
Canada is on the cusp of prying open a market for edibles and alternative cannabis products valued at 2.7 billion Canadian dollars ($2 billion)
Deloitte’s 2019 Cannabis Report calls the new wave of products “Cannabis 2.0â€
Says there is “significant opportunity†in soon-to-be legal markets for marijuana-infused beverages (CA$529 million), topicals (CA$174 million), concentrates (CA$140 million), tinctures (CA$116 million) and capsules (CA$114 million).
Canada
is on the cusp of prying open a market for edibles and alternative
cannabis products valued at 2.7 billion Canadian dollars ($2 billion),
but sales will begin as “a slow burn†come October before gaining
momentum, Deloitte estimates.
For
its third annual report on Canada’s cannabis industry, Deloitte
conducted in-person interviews with cannabis industry experts, an online
survey of 2,000 adults and utilized a strategic alliance with data and
analytics provider Headset.
Regulations
permitting cannabis edibles, extracts and topicals are legislated to
come into force no later than Oct. 17, 2019, although experts have warned against expecting a large rollout of most products until 2020.
The final regulations outlining the rules for the new market could be published as soon as June 26.
Deloitte’s
2019 Cannabis Report calls the new wave of products “Cannabis 2.0†and
says there is “significant opportunity†in soon-to-be legal markets for
marijuana-infused beverages (CA$529 million), topicals (CA$174 million),
concentrates (CA$140 million), tinctures (CA$116 million) and capsules
(CA$114 million).
The
report comes with the sober prediction that the number of Canadian
licensed producers will fall to almost half the current level. As of
March 30, there were 179 federal license holders (all classes) and
another 579 applications were pending in Health Canada’s queue for standard licenses.
The
report will help businesses “understand Canadian consumer sentiment on
cannabis edibles and other alternative products coming with Cannabis 2.0
legalization.â€
“We
offer our perspective on how companies can win in the cannabis market
while the industry is still forming,†according to the report’s authors.
“Our
research suggests that the new alternative cannabis products becoming
legal in late 2019 will be a significant opportunity for players in the
cannabis market. The new options will address consumer interest among
current and likely Canadian cannabis consumers.
“We
believe that cannabis players need to build strong business
fundamentals as the regulatory and business environment settles,
requiring patience, perseverance and confidence – along with a
well-developed business strategy backed up by hard data.â€
Cannibalization
Alcohol makers with no or little exposure to the cannabis industry may have reason to worry.
One-third of likely cannabis consumers see marijuana-infused beverages as an alternative to alcohol, according to Deloitte.
That could further fuel anxiety among beer makers such as Denver-based Molson Coors, which recently warned shareholders that the rising tide of legal cannabis could take a bite out of the company’s profits.
Could “Cannabis 2.0†cannibalize sales of marijuana products already on the market?
“Not yet,†according to Deloitte’s research.
“Fewer
than one in five current or likely respondents say their edibles
spending would replace spending on other products,†the report
continued.
“Nearly
half say they’ll buy edibles as well as the products they’re already
buying – and a similar proportion aren’t sure. This suggests that
Canada’s domestic cannabis market has room to grow.â€
Consumer
spending on infused beverages will probably complement their purchases
of other marijuana products, according to Deloitte’s survey, which found
that 53% of likely consumers and 44% percent of current consumers say
they will buy beverages in addition to other products.
Competitive advantage
Innovation
and scientific research are going to be key if Canadian marijuana
companies want to maintain their competitive advantage over the long
term.
The report surmises that the “enormous†global cannabis opportunity is Canada’s to seize.
How enormous? Deloitte estimates the top cannabis markets are worth $100 billion today and will rise to $194 billion by 2025.
“Canada’s
cannabis cultivators, processors, testers and retailers continue to
have important competitive advantages over their counterparts in more
restrictive jurisdictions – but first-mover advantage has a shelf-life,â€
according to the 2019 Cannabis Report.
The
report urges Canadian firms to move fast to secure market share in
countries that legalize or decriminalize recreational and medical
cannabis.
“Canada
has a unique opportunity to demonstrate how to roll out cannabis
effectively and safely while managing and aligning stakeholders’
expectations.â€
Later,
as the global cannabis market matures, Canada will “inevitably†lose
its advantage in certain parts of the value chain, notably cultivation,
the report states.
M&A ‘wild west’
In 2018, there were over 700 transactions in the cannabis sector.
Deloitte
believes such a frantic pace of M&As will continue for the time
being, fueled by strong growth potential for legal edibles and infused
products as well as international expansion and growing interest from
alcohol, tobacco, pharmaceutical and consumer packaged goods companies.
However,
“as the industry matures, we expect M&A activity to slow and
valuations to normalize. There will likely be some consolidation in the
Canadian industry to absorb excess capacity, and there is an expectation
that the number of Canadian licensed producers will fall to almost half
the current level,†according to Deloitte’s report.
“These traditional companies will bring scale, brand and immense customer insights to bear on cannabis.â€
As
for valuations, Deloitte says they are likely to remain “elevated†for
now, influenced by “historically higher valuations in prior
transactions.
“The
‘gold rush’ sentiment surrounding the cannabis sector is another factor
playing a role in the valuations we’re seeing, if a less rational one.â€
Other takeaways from Deloitte’s 2019 Cannabis Report:
Companies
looking to set themselves apart in an increasingly crowded industry
should develop or acquire new intellectual property, from technology to
genetics.
Cannabis topicals – including lotions, salves, gels, and creams – are “poised to muscle in on prescription medication’s turf.â€
34% of likely marijuana consumers expect to use cannabis lotions every two weeks or more.
Posted by AGORACOM-JC
at 8:41 AM on Thursday, June 20th, 2019
Phase 1 of US rollout plan includes store locations in 4 states; Stores will include SPDR branded products
Spyder has begun partnering with a variety of developers and realtors to sign lease agreements for prime real estate that is strategically located in high traffic areas of malls, and near senior living centres and sporting venues throughout the United States
“This move will represent the first phase in Spyder’s strategic plan to develop a robust, planned network of boutique retail stores and kiosks across the US focused on the specific health and wellness aging and athletics sectors,” said Dan Pelchovitz, President and CEO of Spyder
Vaughan, Ontario–(June 20, 2019) – Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder“), an established Ontario retail operator, announces plans to enter the U.S. market through an initial roll out of hemp derived boutique retail and kiosk locations over the next 12-18 months.
Spyder has begun partnering with a variety of developers and realtors
to sign lease agreements for prime real estate that is strategically
located in high traffic areas of malls, and near senior living centres
and sporting venues throughout the United States. Spyder intends to
initially target Florida, California, New York and Michigan. These
boutiques will stock Spyder’s SPDR (R) branded hemp derived, and infused
products developed for an aging, health and wellness demographic.
Spyder will offer a wide array of hemp product offerings including; hemp
-infused muscle balm, face oil, body lotion and bath salts, as well as
hemp tinctures, capsules and sprays.
“This move will represent the first phase in Spyder’s strategic plan
to develop a robust, planned network of boutique retail stores and
kiosks across the US focused on the specific health and wellness aging
and athletics sectors,” said Dan Pelchovitz, President and CEO of Spyder
Cannabis. “With an already well-established and successful retail model
in Ontario, we have a strong blueprint for success that we are ready to
replicate in the US.”
Additional updates and details on rollout plans to follow.
Founded in 2014 Spyder is an established chain of three high-end vape
stores in Ontario, with stores located in Woodbridge, Scarborough and
Burlington. The Spyder brand is defined by its high-quality proprietary
line of e-juice, liquids and exclusive retail deals, dispensed in
uniquely designed stores creating the optimal customer experience.
Spyder is building off this leading retail, distribution and branding
eCig and vapes company and expanding into the legal cannabis and hemp
derived market. Spyder has developed a scalable retail model with
aggressive expansion plan to create a significant retail footprint with
targeted and disciplined retail distribution strategy focusing on
Canadian retail and U.S. hemp kiosks in high traffic peripheral areas.
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release includes statements containing certain
“forward-looking information” within the meaning of applicable
securities laws (“forward-looking statements”). Forward-looking
statements are frequently characterized by words such as “plan”,
“continue”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “potential”, “proposed” and other similar
words, or statements that certain events or conditions “may” or “will”
occur. In particular, this news release contains forward looking
statements regarding, without limitation: Spyder’s intention to sign
lease agreements for prime real estate locations in the United States;
the timing of Spyder’s planned U.S. roll-out, both initially and
overall; Spyder’s proposed retail hemp operations in the United States,
including its ability to secure retail locations; Spyder’s ability to
build, own and operate retail stores; the branding, staffing and
customer experience of retail stores and kiosks; product selection; and
the growth of a retail business in the United States and Spyder’s
anticipated market share thereof.
These statements are only predictions. Various assumptions were
used in drawing the conclusions or making the projections contained in
the forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made. Any number of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements including, but not limited to: the ability of the parties to
receive and maintain, in a timely manner, the required government,
regulatory and other third party approvals required to participate in
the hemp retail market in the United States; the availability of
appropriate retail locations in the identified areas; the timing and
opening of retail locations; the assets and employees of Spyder; the
availability of retail hemp products; changes to hemp laws; and changes
in general market conditions.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
For more information, please contact:
Spyder Cannabis Inc. Dan Pelchovitz President & Chief Executive Officer Telephone: (905) 265-8273 Email: [email protected]
Tags: Cannabis, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in Featured, Spyder Cannabis Inc. | Comments Off on Spyder Cannabis $SPDR Announces Plans to Enter US Hemp Derived Market Through Rollout of Boutique Retail and Kiosk Stores $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca
Posted by AGORACOM-JC
at 9:23 AM on Tuesday, June 18th, 2019
WHY SPYDER CANNABIS?
Developed a scalable retail model with
aggressive expansion plan to create a significant retail footprint and
establishing strategic partners as a top priority
Targeted and disciplined retail distribution strategy focusing on high quality, high traffic peripheral areas
Focused strategy aimed at vertical,
horizontal and geographic diversification with demonstrated operations
expertise and proven retail roll-out
Announced opening two additional retail stores within the next month for a total of 5 locations
Retail Locations
Spyder will open the new retail locations in the next month located
in Niagara Falls at 6474 Lundys Lane and in Pickering at 776 Liverpool
Road, Unit 4. The New Retail Locations will, initially, focus on the
sale of cannabis accessories, hemp seed oil products, and hemp
accessories.
The Lundys Lane Location, two other retail locations that Spyder
operates in Burlington and Calgary and a location that it intends to
open in Guelph, subject to negotiating satisfactory terms with the
landlord, will all be converted into cannabis retail stores as part of
the Company’s “Cannabis Turn-Key Strategy”.
Under phase one of the Turn-Key Strategy
Spyder intends to operate a number of retail locations that will, in
contrast to a number of its competitors, generate revenue by operating
as retailers of a variety of non-cannabis products.
Under phase two of the Turn-Key Strategy
Spyder will, subject to the receipt of cannabis retail licences from
the Alcohol and Gaming Commission of Ontario and the Alberta Gaming,
Liquor and Cannabis Commission, convert these retailers into cannabis
stores at the earliest possible opportunity.
The Company believes this strategy will allow it to generate stable
revenue streams during the interim period before the stores receive a
retail cannabis licence, and will allow the Company to swiftly pivot
into the sale of cannabis products once appropriate licences have been
received.
Posted by AGORACOM-JC
at 7:05 AM on Monday, June 17th, 2019
Announced multi-year partnership with Harris Blitzer Sports & Entertainment to provide safe and transparent P2P esports betting to Dignitas fans via VIE.gg.
Dignitas is an international esports team with one of the most iconic and recognizable brands in the professional gaming industry that fields teams in seven of esports’ largest and most popular games
BIRKIRKARA, Malta, June 17, 2019 — via OTC PR WIRE – Esports Entertainment Group, Inc. (OTCQB: GMBL) (or the “Company”), a licensed online gambling company with a specific focus on esports wagering and 18+ gaming, is pleased to announce a multi-year partnership with Harris Blitzer Sports & Entertainment (“HBSEâ€) to provide safe and transparent P2P esports betting to Dignitas fans via VIE.gg. Dignitas is an international esports team with one of the most iconic and recognizable brands in the professional gaming industry that fields teams in seven of esports’ largest and most popular games.
Dignitas is the esports organization of HBSE, a globally renowned
sports and entertainment company whose portfolio includes the
Philadelphia 76ers, New Jersey Devils, Crystal Palace F.C. and the
Prudential Center, one of the world’s top-ranked venues located in
Newark, N.J. HBSE is owned by an investor group led by Managing
Partners Josh Harris, the Co-Founder and Senior Managing Director of
Apollo Global Management, LLC., as well as, David Blitzer, the Global
Head of Blackstone’s Tactical Opportunities group.
FIRST NORTH AMERICAN TIER-1 ESPORTS PARTNERSHIP FOR VIE.GG SETS NEW BENCHMARK
As a world champion and one of the original names in esports with a
successful history since 2003, Dignitas represents the first North
American Tier-1 esports organization to partner with the Company’s
VIE.gg esports betting platform. Dignitas is working with VIE.gg for the
following reasons:
1. The VIE.gg P2P model is much more attractive to Dignitas because
an esports fan (a Dignitas fan) always wins, as opposed to a “house”
model where odds are heavily stacked against fans.
2. VIE.gg is the first and most transparent esports bet exchange as a
result of Esports Entertainment Group being a fully reporting SEC
issuer in the United States.
3. Player safety features built into VIE.gg create a fun but
responsible esports betting experience for fans. For example, players
must choose their maximum bet amounts when they initially sign up with
VIE.gg. Any subsequent increase to those levels requires a 30 day
cooling off period to make sure players do not get carried away.
4. The recent addition of pool betting is a further extension of the
P2P model, which allows groups of opposing fans to wager against each
other when their teams go head to head.
5. Given the fact some esports fans bet on esports, Dignitas fans
may as well bet on a safe platform that also supports the organization.
Dignitas CEO Michael Prindiville stated, “Esports Entertainment Group
and Vie.gg offer a premier destination for our fans to engage with the
games they love in ways that play upon a competitive spirit that is
decidedly Dignitas in nature. The future of Dignitas is bound to our
fans and the way they engage, interact, share and are moved by our
content, products, players, streamers and more. The partnership with
Esports Entertainment Group and Vie.gg is extremely natural; we are
connected in our shared dedication to developing and amplifying the
gaming space in this period of rapid and inspiring growth, and as it
blends naturally with entertainment, music, lifestyle, and more.â€
Grant Johnson, CEO of Esports Entertainment Group stated, “I am very
proud of this new partnership with HBSE and their Dignitas esports
brand, which is founded in our shared common beliefs of player safety
above all else. I look forward to sharing our incredible product with
Dignitas’ highly engaged fan base over the next three years and beyond.
For Esports Entertainment Group, a partnership of this calibre is a
significant milestone for our shareholders and tremendous validation of
both our P2P esports wagering model and future plans within the esports
world.â€
This press release is available on our Online Investor Relations
Community for shareholders and potential shareholders to ask questions,
receive answers and collaborate with management in a fully moderated
forum at https://agoracom.com/ir/EsportsEntertainmentGroup
RedChip investor relations Esports Entertainment Group Investor Page: http://www.gmblinfo.com
ABOUT DIGNITAS
Dignitas is an international esports team with one of the most iconic
and recognizable brands in the professional gaming industry that fields
teams in seven of esports’ largest and most popular games: Apex
Legends, Super Smash Bros. Melee, Rocket League, SMITE, Clash Royale and
Counter-Strike: Global Offensive and League of Legends through the
recent merger with Clutch Gaming. Dignitas’ innovative and authentic
brand position offers a premier opportunity for partners seeking a
direct portal into the gaming and esports market. Dignitas was
originally formed in September 2003 with the merger of two Battlefield
1942 teams. In September 2016, Dignitas was acquired by the Philadelphia
76ers of the National Basketball Association. Dignitas is a part of the
Harris Blitzer Sports & Entertainment family of innovative and
competitive holdings owned by an investor group led by Managing Partners
Josh Harris and David Blitzer, which also includes the New Jersey
Devils of the National Hockey League, and the Prudential Center,
world-renowned arena in Newark, N.J. In June 2019, Dignitas merged with
the Houston Rocket’s owned and operated Clutch Gaming, to form a new,
gaming-centric, media and entertainment company.
ABOUT VIE.GG
VIE.gg
offers bet exchange style wagering on esports events in a licensed,
regulated and secured platform to the global esports audience, excluding
jurisdictions that prohibit online gambling. VIE.gg features wagering on the following esports games:
Counter-Strike: Global Offensive (CSGO)
League of Legends
Dota 2
Call of Duty
Overwatch
PUBG
Hearthstone
StarCraft II
VIE.gg has announced affiliate marketing partnerships with 190
esports teams from around the world and expects that number to increase
in 2019.
ABOUT ESPORTS ENTERTAINMENT GROUP
Esports Entertainment Group, Inc. is a licensed online gambling
company with a specific focus on esports wagering and 18+ gaming.
Esports Entertainment offers bet exchange style wagering on esports
events in a licensed, regulated and secure platform to the global
esports audience at vie.gg.
In addition, Esports Entertainment intends to offer users from around
the world the ability to participate in multi-player mobile and PC video
game tournaments for cash prizes. Esports Entertainment is led by a
team of industry professionals and technical experts from the online
gambling and the video game industries, and esports. The Company holds
licenses to conduct online gambling and 18+ gaming on a global basis in
Curacao, Kingdom of the Netherlands. The Company maintains offices in
Malta, Curacao and Warsaw, Poland. Esports Entertainment common stock is
listed on the OTCQB under the symbol GMBL. For more information visit www.esportsentertainmentgroup.com
FORWARD-LOOKING STATEMENTS The
information contained herein includes forward-looking statements. These
statements relate to future events or to our future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity,
performance, or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements. You should not place undue
reliance on forward-looking statements since they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements. Any
forward-looking statement reflects our current views with respect to
future events and is subject to these and other risks, uncertainties and
assumptions relating to our operations, results of operations, growth
strategy and liquidity. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to update the
reasons actual results could differ materially from those anticipated
in these forward-looking statements, even if new information becomes
available in the future. The safe harbor for forward-looking statements
contained in the Securities Litigation Reform Act of 1995 protects
companies from liability for their forward-looking statements if they
comply with the requirements of the Act.
Posted by AGORACOM-JC
at 1:20 PM on Friday, June 14th, 2019
Zen Graphene Solutions (ZEN:TSXV) has discovered the largest and very rare ultra high-purity graphite deposit in Northern Ontario. The company is now determined to illustrate the commercial viability of the Deposit, which sounds like every company until you consider what has taken place in just the past 60 days:
1. ZEN was awarded a $1,000,000 grant for Graphene-Infused Concrete Applications research. Yep, graphene & concrete. Who would have figured? Well, ZEN did as research with two different Universities indicates the combination has the potential to increase the strength of concrete by 40% … which would save developers an incredible amount of money. ZEN thinks they may be ready to deliver product into Ontario by 2020…. and so does the Grantor who didn’t want their name disclosed!
2. ZEN signed an agreement to
license a low cost, high-yield graphene production process. Now why
would it do something like that if ZEN didn’t think it would have a need
to … produce?
3. ZEN signed an MOU with
the University of Manchester on commercialization collaboration
opportunities. Again “commercialization”. Even more happened over the past 60 days … but we figure we’d save some great stuff for you to watch!
