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INTERVIEW: As Cannabis Companies Struggle, $MOTA.ca Delivers $29M Revenue, $3.6M EBITDA – And That’s Just The Start $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca $FAF.ca

Posted by AGORACOM-JC at 4:03 PM on Monday, February 24th, 2020

In 1948, Winston Churchill said, “Those who fail to learn from history are condemned to repeat it”.  Unfortunately, many Cannabis companies aren’t historians and are repeating the dot-com to dot-bomb cycle of raising tons of money but no clue how to build a real business with it.

You know what else we learned from that cycle?  Web 2.0 was the birth of companies with real business plans, products, customers and revenues.  They went on to dominate the next 20 years.

Enter MOTA Ventures (MOTA:CSE), who has become a leader in online CBD sales into the North American market, thanks to an e-commerce “engine” built by CEO Ryan Hoggan and his team over the past few years at Unified Funding.  That engine is so powerful that is has racked up over $200 MILLION in sales from over 1 million paying customers over a number of products, including CBD sales of $25 MILLION by “First Class CBD”, which was acquired by MOTA for $32 MILLION.

As the new CEO of MOTA, Ryan is bringing that ecommerce engine into the Company to further drive CBD sales into the US market, as well as, Europe.  As an online company ourselves, we can pretty easily spot companies that are just trying to piggy back “e-commerce”.  Ryan is the real deal.  As you will hear in this interview, he has already achieved monster e-commerce success with the likes of Boeing, Daimler and the Lakers basketball team on over 100 health and wellness products.

The best part for MOTA shareholders?  Ryan is highly motivated to continue with his successful ways because Unified Funding can earn an additional $15 MILLION if First Class CBD achieves sales of $62 MILLION.  In my experience, companies don’t put bonuses into contracts unless they both believe there is a reasonable belief they can be achieved. Will he hit $62M?  Or fall short at the other 2 milestones of $52M and $42M?

Watch this interview and you be the judge.  Either way, MOTA shareholders should get their popcorn ready because Ryan has already proven he’s leading MOTA into the Cannabis 2.0 phase.  Success is already here, now its just a question of how high MOTA will fly.

Watch this interview and share it with every investor you know!

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The Last Big Breakout in Gold Stocks & What it Means Today SPONSOR: Labrador Gold $LAB.ca $RIO.ca $WHM.ca $SIC.ca $NXS.ca

Posted by AGORACOM at 2:47 PM on Friday, February 21st, 2020
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SPONSOR: Labrador Gold – Two successful gold explorers lead the way in the Labrador gold rush targeting the under-explored gold potential of the province. Exploration has already outlined district scale gold on two projects, including a 40km strike length of the Florence Lake greenstone belt, one of two greenstone belts covered by the Hopedale Project. Click Here for More Info

  • GDX and GDXJ are consolidating bullishly within a now seven-year-long base

Last week, I covered the historical trajectory of the gold stocks and how today compares to the early 1960s. 

The late 2015 to early 2016 period marked one of the three best buying opportunities of the past 100 years (from a secular standpoint), and gold stocks are in position for sensational performance over the next 20 years. 

That sounds great, but what matters most is the here and now. We do not want to get caught in a cyclical downturn (which could occur more than once during this super bull).

Fortunately, the outlook over the next 12 to 18 months is bullish. The macro-fundamentals are supportive and improving, and the gold stocks now have a beautiful technical setup that could lead to massive gains.

GDX and GDXJ are consolidating bullishly within a now seven-year-long base. They are digesting recent gains while holding well above key support levels and are in position for an eventual explosive breakout.

GDX & GDXJ Weekly Bars

 Historically, there have not been many multi-year breakouts with the potential magnitude of this next one. In using the Barron’s Gold Mining Index, I only find three.

The breakout in 1964 was a historic, multi-decade breakout that ushered in an enormous bull market in gold stocks. It was the most significant inflection point ever for gold stocks.  

Later during that bull market, the gold stocks broke a 5-year downtrend and 5-year resistance in 1973, exploding higher. 

Barron’s Gold Mining Index

The 2005 breakout compares best with the potential next one.

Like the one in 2005, this next one is setting up several years after a secular low, following one of the worst bear markets of the past 90 years. 

Also, this next breakout could occur following a +7 year-long base, which is not too far from the +9 year base that was broken in late 2005. 

Furthermore, the May 2005 low is similar to September 2018 in that both followed a mini-bear market that lasted at least 18 months.

We plot the NYSE Arca Gold Miners Index, which is the parent index of GDX.

GDM Weekly Line

Since there are similarities in the setup, perhaps the upside potential from a new breakout could be similar to that which followed the 2005 breakout.

I want to focus on GDXJ because we invest in juniors and not seniors. The history of GDXJ back to January 2004 is available on this website.

From its May 2005 low to its peak in November 2007, GDXJ advanced nearly 4-fold. Once GDXJ surpassed its January 2004 peak, it gained 138% into that 2007 peak.

GDXJ closed last week just below $41. The measured upside target from a break past $50 is $83. If GDXJ today duplicated its performance before and after the 2005 breakout, then it would peak at $100 or $115.

If we get the breakout, then $83 becomes the minimum upside target. In that case, $100 or $115 is hardly a stretch.

SOURCE: https://thedailygold.com/the-last-big-breakout-in-gold-stocks-what-it-means-today/

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New Charging Stations for Electric Vehicles Coming to Northern Ontario SPONSOR: Lomiko Metals $LMR.ca $CJC.ca $SRG.ca $NGC.ca $LLG.ca $GPH.ca $NOU.ca

Posted by AGORACOM at 12:29 PM on Friday, February 21st, 2020

SPONSOR: Lomiko Metals is focused on the exploration and development of minerals for the new green economy such as lithium and graphite. Lomiko owns 80% of the high-grade La Loutre graphite Property, Lac Des Iles Graphite Property and the 100% owned Quatre Milles Graphite Property. Lomiko is uniquely poised to supply the growing EV battery market. Click Here For More Information

An Ivy charger on display at the 2020 Canadian International AutoShow in Toronto. Ontario Power Generation photo
  • Ivy Charging Network aims to create the “largest and most connected electric vehicle fast-charger network” in the province.
  • The company is expected to install 160 Level 3 fast-chargers at 73 locations across Ontario, each less than 100 kilometres apart from one another on average, by the end of 2021.

Electric vehicle charging stations are coming to North Bay and Temiskaming Shores as part of a new province-wide network being developed by Hydro One and Ontario Power Generation (OPG).

Media releases from both Hydro One and OPG say they have launched a new company, Ivy Charging Network, which aims to create the “largest and most connected electric vehicle fast-charger network” in the province.

The company is expected to install 160 Level 3 fast-chargers at 73 locations across Ontario, each less than 100 kilometres apart from one another on average, by the end of 2021.

Natural Resources Canada has provided an $8-million repayable contribution, through its Electric Vehicle and Alternative Fuel Infrastructure Deployment Initiative, to help build the network.

The Ivy Charging Network opened its first location in Huntsville in September and an official public launch took place Friday at the 2020 Canadian International AutoShow in Toronto.

“We play a critical role in energizing life in communities across Ontario. This fast-charger network will create a better and brighter future through a greener transportation sector while meeting the evolving energy needs of our customers and all Ontarians,” Hydro One vice-president of customer service and Ivy Charging Network co-president Imran Merali said.

“By entering this growing market in partnership with OPG, Hydro One is expanding our product and service offering to deliver greater value for our customers, employees, communities and shareholders.”

Ivy Charging Network is a limited partnership owned equally by Hydro One and OPG.

The company has chosen Greenlots, a member of the Shell Group, as its service provider to operate and manage the network.

“Having delivered the world’s largest single climate change action to date with the closure of our coal stations, OPG’s clean power serves as a strong platform to electrify carbon-heavy sectors like transportation,” fellow Ivy Charging Network co-president and OPG vice-president of corporate business development and strategy Theresa Dekker said.

“That’s why we’re so pleased to be partnering with Hydro One on an initiative that will broaden the benefits of electrification and provide a reliable, integrated network while ensuring no additional cost to ratepayers.”

Nipissing-Timiskaming Liberal MP Anthony Rota applauded the news on Twitter, while Minister of Innovation, Science and Industry Navdeep Bains said the federal government is committed to supporting projects that will bring the country closer to a “competitive, zero-emissions transportation sector.”

He added that the network will ensure “Canadian-made solutions are at the forefront of solving the global climate change crisis, leaving our children and grandchildren with a healthier planet and cleaner air to breathe.”

SOURCE: https://www.nugget.ca/news/local-news/new-charging-stations-for-electric-vehicles-coming-to-northern-ontario

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Big Opportunity Ahead in Silver? SPONSOR: Affinity Metals $AAF.ca $SII.ca $TUD.ca $GTT.ca $AMK.ca $OSK.ca $RKR.ca

Posted by AGORACOM at 11:56 AM on Friday, February 21st, 2020
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Sponsor: Affinity Metals (TSX-V: AFF) a Canadian mineral exploration company building a strong portfolio of mineral projects in North America. The Corporation’s flagship property is the Drill ready Regal Property near Revelstoke, BC. Recent sampling encountered bonanza grade silver, zinc, and lead with many samples reaching assay over-limits. Click Here for More Info

  • Silver is a precious metal with approximately 50% of the demand coming from industrial uses.
  • It is a “high beta” play on the gold price, more sensitive to global growth and the inflation expectations.

I’m on record for a quite bullish call in gold one year ago. As of today, gold trades approximately 20 % or 300 USD higher.

In March 2019, I also tweeted that the silver/gold ratio probably made a low and that I expect silver to at least reach 20 USD in 2019. I was slightly too optimistic, silver made “only” 30 % and hit 19.75 USD.

I have a new strong opinion I would like to share with you.

  • Silver is a precious metal with approximately 50% of the demand coming from industrial uses. It is a “high beta” play on the gold price, more sensitive to global growth and the inflation expectations.
  • The relationship to gold in more detail: at the beginning of a new up cycle in precious metals, silver in general lags gold. Later in the cycle (especially at the end of a certain cycle) silver massively outperforms gold. After the peak, silver starts to underperform again.

After spending quite some time doing research, today’s situation in silver looks similar like late 2003 (blue arrow). But here are my observations:

  • “History doesn’t repeat itself, but it often rhymes.” – Mark Twain
  • The a-b-c is a typical bottoming process, with a retest of the lows (c), a price compression and a well-defined breakout (blue trendline). During this initial stage, silver rather underperforms gold (see 1 and 2 in the silver/gold ratio).
  • Later silver consolidates above the 200-week moving average (blue box), pullbacks finding support at the moving average, exactly like in 2003. Meanwhile, the moving average flattens and even turned upward.
  • The silver/gold ratio also put in a possible bottom and is close to breaking the dashed blue trendline (yellow box).
  • If things repeat in a similar way, expect a huge up move in silver soon. A repeat of 2003-2004 would imply roughly 50 % upside within this year.

How I play it:

  • I already have a position in silver, I will increase the position if silver is able to break and hold above 18.12 USD = higher low. (further confirmation if gold miners break out and the silver/gold ratio breaks the downward sloping trendline)
  • Below 17.48 USD I reduce my position and stay rather defensive until silver is showing strength again.
  • I personally use futures and I will probably add a call option (strike 18 USD; March 2021). For most people, a ETF like SLV is probably a good way to participate.

A word of caution:

  • First, bold predictions often fail. The above mentioned is just my opinion (as of today).
  • Further, history is only a guide. The move may take place later, is not as explosive as in 2003-2004 or will not take place at all.
  • I see a possibility that the recent virus in China has a quite negative impact on global growth and on inflation expectations (S&P500 doesn’t believe it, but copper and oil do). A severe outcome would probably delay this trade setup. Remember, silver is very sensitive to inflation expectations.
  • As already stated, just my opinion and not investment advice. Please do your own analysis. Investing/trading involves substantial risk of loss and is not suitable for all people.

SOURCE:https://vesrock.com/2020/02/16/big-opportunity-ahead-in-silver/

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Posted in Affinity Metals, All Recent Posts | Comments Off on Big Opportunity Ahead in Silver? SPONSOR: Affinity Metals $AAF.ca $SII.ca $TUD.ca $GTT.ca $AMK.ca $OSK.ca $RKR.ca

Laser-Induced Graphene Shows Promise in the Development of Flexible Electronics SPONSOR – ZEN Graphene Solutions $ZEN.ca $LLG.ca $FMS.ca

Posted by AGORACOM at 11:37 AM on Thursday, February 20th, 2020

SPONSOR: ZEN Graphene Solutions: An emerging advanced materials and graphene development company with a focus on new solutions using pure graphene and other two-dimensional materials. Our competitive advantage relies on the unique qualities of our multi-decade supply of precursor materials in the Albany Graphite Deposit. Independent labs in Japan, UK, Israel, USA and Canada confirm this. Click here for more information

Scientists at Rice University have made laser-induced graphene using a low-power laser mounted in a scanning electron microscope.

The team at Rice University, in conjunction with Philip Rack, a Tennessee/ORNL materials scientist, have pioneered a process to create laser-induced graphene (LIG). LIG has features that are 60% smaller than the macro version of the material and almost 10 times smaller than what can be typically achieved using an infrared laser. 

The LIG Process

LIG is a multifunctional graphene foam that is direct-written with an infrared laser into a carbon-based precursor material. In the Rice team’s research, this was achieved using a visible 405 nm laser that directly converts polyimide into LIG, enabling the formation of LIG with a spatial resolution of 12 µm and a thickness of < 5 µm. This spatial resolution, enabled by the smaller-focused spot size of the 405 nm laser, represents a 60% reduction in previously reported LIG feature sizes. 

These smaller 405 nm lasers use light in the blue-violet part of the spectrum. They are much less powerful than the industrial lasers that are currently being used to burn graphene into materials. 

“A key for electronics applications is to make smaller structures so that one could have a higher density, or more devices per unit area,” James Tour of Rice University said in a statement. “This method allows us to make structures that are 10 times denser than we formerly made.”

A scanning electron microscope shows two tracers of LIG on a polyimide film.
A scanning electron microscope shows two tracers of LIG on a polyimide film. Image used courtesy of James Tour of Rice University

A New Path Toward Writing Electronic Circuits 

To prove the viability of their concept, the researchers made tiny flexible humidity sensors directly fabricated on polyimide. These devices were then able to sense human breath in 250 milliseconds. 

“This is much faster than the sampling rate for most commercial humidity sensors and enables the monitoring of rapid local humidity changes that can be caused by breathing,” said Rice postdoctoral researcher Michael Stanford, lead author of the research team’s paper. 

The 405 nm laser is mounted on a scanning electron microscope (SEM) and burns the top five microns of the polymer. This writes graphene features as small as 12 microns. 

The Rice team believes that this new LIG process could offer a new path toward writing electronic circuits into flexible materials such as clothing. 

“The LIG process will allow graphene to be directly synthesized for precise electronics applications on surfaces,” added Stanford. With growing interest in the LIG process for use in flexible electronics and sensors, further refinement of this process will expand its utility and potentially see it being used in a range of flexible electronics across all industries.

SOURCE: https://www.allaboutcircuits.com/news/laser-induced-graphene-shows-promise-in-the-development-of-flexible-electronics/

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BEYOND THE DECK: $HPQ.ca Silicon Shares Its PowerPoint Presentation With Investors $FSLR $SPWR $CSIQ $PYR.ca $XMG.ca

Posted by AGORACOM-JC at 9:21 AM on Thursday, February 20th, 2020

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$LMR.ca The Media Is Waking Up to EVs and Battery Materials – Lomiko Metals $CJC.ca $SRG.ca $NGC.ca $LLG.ca $GPH.ca $NOU.ca

Posted by AGORACOM at 5:20 PM on Wednesday, February 19th, 2020

SPONSOR: Lomiko Metals is focused on the exploration and development of minerals for the new green economy such as lithium and graphite. Lomiko owns 80% of the high-grade La Loutre graphite Property, Lac Des Iles Graphite Property and the 100% owned Quatre Milles Graphite Property. Lomiko is uniquely poised to supply the growing EV battery market. Click Here For More Information

A. Paul Gill, CEO Lomiko Metals Inc. VP Business Development, appears on Michael Campbell’s MoneyTalks podcast, A financial show syndicated Canada-wide on the radio.

Money Talks – February 15 Complete Show: move forward to minute 14:22

https://omny.fm/shows/money-talks-with-michael-campbell/money-talks-february-15-complete-show

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The Rise of Deepfakes SPONSOR: Datametrex AI Limited $DM.ca

Posted by AGORACOM-JC at 2:45 PM on Wednesday, February 19th, 2020

SPONSOR: Datametrex AI Limited (TSX-V: DM) A revenue generating small cap A.I. company that NATO and Canadian Defence are using to fight fake news & social media threats. The company announced three $1M contacts in Q3-2019. Click here for more info.

The Rise of Deepfakes

  • Deepfakes are synthetic media in which a person in an existing image or video is replaced with someone else’s likeness
  • In recent months videos of influential celebrities and politicians have surfaced displaying a false and augmented reality of one’s believes or gestures

JMSCORY

Deepfakes leverage powerful techniques from machine learning and artificial intelligence to manipulate and generate visual and audio content with a high potential to deceive. The purpose of this article is to enhance and promote efforts into research and development and not to promote or aid in the creation of nefarious content.

Introduction

Deepfakes are synthetic media in which a person in an existing image or video is replaced with someone else’s likeness. In recent months videos of influential celebrities and politicians have surfaced displaying a false and augmented reality of one’s believes or gestures.

Whilst deep learning has been successfully applied to solve various complex problems ranging from big data analytics to that of computer vision the need to control the content generated is crucial alongside that of it’s availability to the public.

Within recent months, a number of mitigation mechanisms have been proposed and cited with the use of Neural Networks and Artificial Intelligence being at the heart of them. From this, we can distinguish that a proposal for technologies that can automatically detect and assess the integrity of visual media is therefore indispensable and in great need if we wish to fight back against adversarial attacks. (Nguyen, 2019)

Early 2017

Deepfakes as we know them first started to gain attention in December 2017, after Vice’s Samantha Cole published an article on Motherboard.

The article talks about the manipulation of celebrity faces to recreate famous scenes and how this technology can be misused for blackmail and illicit purposes.

The videos were significant because they marked the first notable instance of a single person who was able to easily and quickly create high-quality and convincing deepfakes.

Cole goes on to highlight the juxtaposition in society as these tools are made free by corporations for students to gain sufficient knowledge and key skills to enhance their general studies at University and school.

Open-source machine learning tools like TensorFlow, which Google makes freely available to researchers, graduate students, and anyone with an interest in machine learning. — Samantha Cole

Whilst deepfakes have the potential to differ in general quality from previous efforts of superimposing faces onto other bodies. A good deepfake, created by Artificial Intelligence that has been trained on hours of high-quality footage creates such extremely high-quality content humans struggle to understand whether it is real or not. In turn, researches have shown interest in developing neural networks to help understand the accuracy of such videos. From this, they are able to then distinguish them as fake.

In general, a good deepfake can be found where the insertions around the mouth are seamless alongside having smooth head movements and appropriate coloration to surroundings. Gone have the days of simply superimposing a head onto a body and animating it by hand as the erroneous is still noticeable leading to dead context and mismatches.

Early 2018

In January 2018, a proprietary desktop application called FakeApp was launched. This app allows users to easily create and share videos with their faces swapped with each other. As of 2019, FakeApp has been superseded by open-source alternatives such as Faceswap and the command line-based DeepFaceLab. (Nguyen, 2019)

With the availability of this technology being so high, websites such as GitHub have sprung to life in offering new mythologies of combatting such attacks. Within the paper ‘Using Capsule Networks To Detect Forged Images and Videos’ Huy goes on to talk about the ability to use forged images and videos to bypass facial authentication systems in secure environments.

The quality of manipulated images and videos has seen significant improvement with the development of advanced network architectures and the use of large amounts of training data that previously wasn’t available.

Later 2018

Platforms such as Reddit start to ban deepfakes after fake news and videos that started circling from specific communities on their site. Reddit took it on themself to delete these communities in a stride to protect their own.

A few days later BuzzFeed publishes a frighteningly realistic video that went viral. The video showed Barack Obama in a deepfake. Unlike the University of Washington video, Obama was made to say words that weren’t his own, in turn helping to raise light to this technology.

Below is a video BuzzFeed created with Jordan Peele as part of a campaign to raise awareness of this software.

Early 2019

In the last year, several manipulated videos of politicians and other high-profile individuals have gone viral, highlighting the continued dangers of deepfakes, and forcing large platforms to take a position.

Following BuzzFeed’s disturbingly realistic Obama deepfake, instances of manipulated videos of other high-profile subjects began to go viral, and seemingly fool millions of people online.

Despite most of the videos being even more crude than deepfakes — using rudimentary film editing rather than AI — the videos sparked sustained concern about the power of deepfakes and other forms of video manipulation while forcing technology companies to take a stance on what to do with such content. (Business Insider, 2019).

Source: https://medium.com/swlh/the-rise-of-deepfakes-19972498487a

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#Palladium Surges to Record Despite Slowdown Concerns in China SPONSOR: New Age Metals $NAM.ca $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 2:23 PM on Wednesday, February 19th, 2020

SPONSOR: New Age Metals Inc. The company owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces Inferred. Learn More.

Palladium Surges to Record Despite Slowdown Concerns in China

  • Palladium prices have surged on high demand from automakers seeking to meet stricter emission standards as world governments look to combat climate change and growing pollution levels.

By Max Chen

The palladium ETF rallied Tuesday, with palladium prices hitting record highs, even as the coronavirus outbreak threatens to shutdown carmakers and delay industrial plants in China, the world’s biggest consumer of the precious metal.

The Aberdeen Standard Physical Palladium Shares ETF (NYSEArca: PALL), which seeks to reflect the performance of the price of physical palladium, advanced 6.1% Tuesday while the palladium spot price rose 2.9% to $2,593.8 per ounce.

Palladium prices have surged on high demand from automakers seeking to meet stricter emission standards as world governments look to combat climate change and growing pollution levels.

Meanwhile, the coronavirus outbreak has disrupted normal car production in China as factors were forced to stop operations to curtail the spread of the contagion, the Wall Street Journal reports. For example, Germany’s Volkswagen AG postponed production at some of its Chinese-operated plants until next week as the quarantine of nearly 60 million people limits transportation of both parts and workers.

While the work has diminished short-term demand, palladium prices still jumped to record highs on ongoing supply constraints, with miners producing less of the precious metal.

“It’s the most dysfunctional market I’ve ever seen in my life,” Michael Widmer, an analyst at Bank of America, told the WSJ, adding that car manufacturers could be forced to electrify their vehicle fleets faster than previously planned if palladium keeps getting more expensive.

Palladium demand has surged in recent years as the European Union and China implemented stricter car emission standards, amid concerns over the impact of certain pollutants on public health. Consequently, palladium, which applied to catalytic converters that are fitted to gasoline-driven cars, is in high demand as a highly effective way to convert toxic gases like carbon monoxide into substances that are less toxic to inhale.

Almost all gasoline cars manufactured in China this year will be held to the new emissions standards, or up from two-thirds in 2019. Consequently, U.K.’s Johnson Matthey calculated that this will increase the average amount of palladium required in each catalyst and could lift global demand for the precious metal in the auto sector above 10 million ounces.

On the other hand, supply has not been as quick to meet the rise in demand. Palladium is typically produced as a byproduct of palladium, and miners don’t want to inundate the weak platinum market with even more supply.

Consequently, Anglo American Platinum Ltd projected that global demand for palladium will exceed production by 1.9 million ounces in 2020.

Source: https://www.etftrends.com/alternatives-channel/palladium-etf-surges-to-record-despite-slowdown-concerns-in-china/

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North Bud Farms $NBUD.ca Announces Name Change and Provides U.S. Update $CGC $ACB $APH $CRON.ca $OGI.ca

Posted by AGORACOM-JC at 9:39 AM on Wednesday, February 19th, 2020
  • Harvested approximately 400 lbs of various grades and strains of cannabis
  • Received a California state processing licence in addition to the existing five cultivation, extraction and distribution licenses it acquired from the Qlora Group in 2019
  • Harvested 40 lbs of high-grade cannabis testing at approximately 20% THC in Reno

TORONTO, Feb. 19, 2020 — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company“) is pleased to provide shareholders with an update on our U.S. operations, Bonfire Brands USA (“Bonfire”).

Salinas, California

To date, the Company has harvested approximately 400 lbs of various grades and strains of cannabis. As anticipated, the winter season yields were moderate with large flowers testing at approximately 19% THC. The Company has sold approximately 50% of the harvest in wholesale quantities. The Company expects its next harvest in 60 days and is looking for an incremental increase in quality and yield. The Company will provide revenue updates at the end of the quarter.

Licensing

The Company is pleased to announce it has received a California state processing licence in addition to the existing five cultivation, extraction and distribution licenses it acquired from the Qlora Group in 2019. This new licence will allow the Company to process, package and distribute cannabis and cannabis products acquired from other licensed producers in the state on a pay per use basis.

“Maximizing revenue streams in California where established and highly regulated retail and distribution models exist has required new entrants to operate within all verticals,” said Justin Braune, President, Bonfire Brands USA. “This strategy requires significant capital expenditures and has historically proven very difficult to execute. By leveraging our strategic infrastructure into agreements with established operators, Bonfire expects to increase revenue streams and achieve profitability quicker with lower capital expenditure risks.”

“I am very pleased by the significant progress made by our California team in their short time since we completed the acquisition of the Qlora Group,” said Sean Homuth, CEO of NORTHBUD. “In an industry that has seen companies struggle to manage high infrastructure costs while navigating ever evolving distribution landscapes, the anticipated revenue from this model will be very crucial for the Company as we move towards achieving EBITDA positive operations.”
   
Reno, Nevada

To date, the Company has harvested 40 lbs of high-grade cannabis testing at approximately 20% THC. This product is being sold under the NORTHBUD brand to select retailers in Reno and Las Vegas and represents the first revenue in Nevada for Bonfire Brands.  The Company will update the market further at the end of the quarter.

The Company has begun construction of two additional cultivation and processing rooms which will increase annual revenue capacity by 40%. With recent cost cutting measures implemented post acquisition, the Company believes it is on track to bring the Nevada operation to cash flow positive in the first quarter of 2020.     

The Company has entered into a third-party service agreement with LTH Logistics (“LTH”), a licensed third-party distribution and delivery company. As per the terms of the agreement, LTH will provide these third-party services under the distribution licence of Nevada Botanical Sciences with revenue generated being split 60/40 in favor of Bonfire Brands USA.

“Similar to California, many Nevada licensees have been operating across all verticals,” said Justin Braune, President, Bonfire Brands USA. “Bonfire has chosen to reduce execution risk and minimize capital expenditures by working with established operators who seek to benefit from our strategic infrastructure, which will allow the company will expedite its progression towards EBITDA positive operations.”  

Corporate Name Change

As approved at our recent annual shareholder meeting, the Company will officially change its name to Bonfire Holdings Inc. The Company has reserved and will begin trading under the ticker symbol BURN in the near future. The Company believes this better represents the vision and structure of the Company moving forward.  The Company owns brands such as NORTHBUD, California Bud Co., Live For The Day (LFTD) and Trichomic and manufactures and distributes Happiest Hour beverages in the state of Nevada.  

About North Bud Farms Inc.

North Bud Farms Inc., through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and in Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space. The Reno, Nevada property is located on 3.2 acres of land which was acquired through the acquisition of Nevada Botanical Science, Inc. a world class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation which holds medical and adult use licenses for cultivation, extraction and distribution. Through its wholly owned Canadian subsidiary, GrowPros MMP Inc., the Company is pursuing a licence under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of Agricultural Land in Low, Quebec, Canada.

For more information visit: www.northbud.com

Neither the CSE 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 statements”), including but not limited to those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. Forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward-looking statements that include, but are not limited to, statements relating to the Company’s California, Nevada operations and its corporate name change to Bonfire Holdings Inc. 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 the Company’s final long form prospectus dated August 21, 2018, which is available under the Company’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]

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