Posted by AGORACOM-JC
at 7:28 AM on Wednesday, November 25th, 2020
Real Sociedad is Second La Liga Team to Leverage Augmented Reality for Fan Activation & Engagement with ImagineAR
Announced the signing of a two year revenue partnership agreement with Real Sociedad, two time La Liga Champion and currently first place in La Liga, to provide its Augmented Reality SDK Platform for fan activation and engagement
This agreement makes Real Sociedad the second La Liga team to incorporate ImagineAR SDK Augmented Reality for global fan activation and engagement
VANCOUVER, BC and ERIE, Pa. , Nov. 25, 2020 – Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) (“ImagineAR” or “Company”) an Augmented Reality Company that enables sports teams, businesses and enterprises to instantly create their own AR mobile campaigns, is pleased to announce the signing of a two year revenue partnership agreement with Real Sociedad, two time La Liga Champion and currently first place in La Liga, to provide its Augmented Reality SDK Platform for fan activation and engagement. This agreement makes Real Sociedad the second La Liga team to incorporate ImagineAR SDK Augmented Reality for global fan activation and engagement.
Juan Iraola , Chief Innovation Officer at Real Sociedad and Sports Innovation Alliance, stated “We focus on integrating best-in-class technology and ImagineAR provides the most advanced Augmented Reality SDK fan engagement platform for mobile apps today. We are excited to launch immersive AR campaigns for Real Sociedad fans around the world starting in 2021.”
Alen Paul Silverrstieen, CEO of ImagineAR, stated ” Juan Iraola is recognized as a global sports technology thought leader and we are excited to be working with Real Sociedad for the next two years delivering immersive fan engagement and sponsorship activation. We are very optimistic that this partnership will grow enormously in the next two years.”
This News Release is available on the company’s CEO Verified Discussion Forum , a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
About ImagineAR
Imagine AR Inc. (CSE: IP) (OTC: IPNFF) has developed ImagineAR.com; an “AR-as-a-Service” platform for desktops that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineAR. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage with videos, information, advertisements, coupons, 3D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The ImagineAR mobile app is available in the IOS and Android mobile app stores. The platform is available as a native mode SDK.
We encourage you to do your own due diligence and ask your broker if ImagineAR Inc. (cse: IP) is suitable for your particular investment portfolio*.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward- looking information is based on certain key expectations and assumptions made by ImagineAR’s management. Although ImagineAR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because ImagineAR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and ImagineAR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Posted by AGORACOM-JC
at 7:31 AM on Monday, November 23rd, 2020
Announced that its Plant-Based Complete Nutrition for Toddlers was ranked the number one (top) selling product on Amazon’s Hot New Releases in the Baby and Toddler Formula Category.
As of November 17 th , the product’s single and 4-pack varieties took the first and second spots on the list respectively.
VANCOUVER, BC , Nov. 23, 2020 – ELSE NUTRITION HOLDINGS INC. (TSXV: BABY) (OTCQX: BABYF) (FSE: 0YF) (“Else” or the “Company”) the plant-based baby, toddler and children nutrition company , is pleased to announce that its Plant-Based Complete Nutrition for Toddlers was ranked the number one (top) selling product on Amazon’s Hot New Releases in the Baby and Toddler Formula Category. As of November 17 th , the product’s single and 4-pack varieties took the first and second spots on the list respectively.
“We are overwhelmed with excitement by the demand we are seeing for our Toddler Nutrition on the Amazon platform,” said Mrs. Hamutal Yitzhak , CEO and Co-Founder of Else. “The strong uptake confirms that U.S. parents are looking for novel healthy nutrition alternatives for their children.”. This response echoes the consumer feedback we have been receiving via our online store and brick and mortar retail channels,” she added.
Else Nutrition announced earlier this week that is has commenced shipment of its product with KeHE Distributors. Just in time for the holiday season, Else’s Plant-Based Complete Nutrition for Toddlers will be on the shelves of numerous U.S. retail stores, including a soon-to-be announced, national grocery chain.
For more information, visit: elsenutrition.com or @elsenutrition on Facebook and Instagram.
About Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel -based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the “2017 Best Health and Diet Solutions” award at the Global Food Innovation Summit in Milan . The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed as TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QX board under the trading symbol BABYF and on the Frankfurt Exchange under the symbol 0YL. Else’s Executives includes leaders hailing from leading infant nutrition companies. Many of Else advisory board members had past executive roles in companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition Societies, and some of them currently serve in different roles in leading medical centers and academic institutes such as Boston Children’s Hospital, Pediatrics at Harvard Medical School , USA , Tel Aviv University , Schneider Children’s Medical Center of Israel , Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium .
For more information, visit: elsenutrition.com or @elsenutrition on Facebook and Instagram.
TSX Venture Exchange
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.
Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “will” or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the Company’s financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management’s perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that there will be no interruptions or supply chain failures as a result of COVID 19 and that the manufacturing, broker and supply logistic agreement with the Company do not terminate. Actual results may differ from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Posted by AGORACOM-JC
at 7:27 AM on Monday, November 23rd, 2020
RIC Centre is announcing their first Digital Main Street Community Collaboration Project, delivering augmented reality walking tours for the Streetsville Business Improvement Area (BIA) in Mississauga in time for the holiday season.
Ready Set Go Design was selected as the technology partner for this project using the ImagineAR ™ augmented reality (AR) platform.
Ready Set Go will create engaging, interactive experiences that combine educational stops at key heritage locations with fun and promotional activations from local businesses.
The walking tours for Streetsville will be live by December 8th, 2020 with surprise visits from Santa for anyone who participates in the tour before December 24th .
VANCOUVER, BC and ERIE , Pa. , Nov. 23, 2020 – ImagineAR (CSE: IP) (OTCQB: IPNFF) an Augmented Reality Company that enables sports teams, brands and businesses to instantly create their own mobile phone AR campaigns, is excited the RIC Centre is announcing their first Digital Main Street Community Collaboration Project, delivering augmented reality walking tours for the Streetsville Business Improvement Area (BIA) in Mississauga in time for the holiday season. Ready Set Go Design was selected as the technology partner for this project using the ImagineAR ™ augmented reality (AR) platform.
Home to the largest concentration of historic buildings in Mississauga , Streetsville’s main street blends old world charm with its 300+ small businesses in a mix of heritage and modern buildings. In lieu of hosting large group walking tours which were cancelled due to COVID-19, this Community Collaboration Project will help Streetsville BIA offer self-guided, interactive tours for anyone using their smart phone or mobile device.
Ready Set Go will create engaging, interactive experiences that combine educational stops at key heritage locations with fun and promotional activations from local businesses. The walking tours for Streetsville will be live by December 8th, 2020 with surprise visits from Santa for anyone who participates in the tour before December 24th .
“On behalf of the local business community, we are delighted to bring a Virtual Santa to downtown Streetsville as part of the new ImagineAR heritage walking tours so families can safely get photos with Santa as part of their holiday celebrations. We are thankful for the generous support of Heritage Mississauga for providing historical images of Streetsville , video content, and fascinating stories of the Village’s rich history. We encourage residents and visitors to walk through and learn about our village during winter 2020/2021 when COVID-19 restrictions prevent us from hosting in-person events and walking tours,” Amber Pajtasz , General Manager of the Streetsville BIA stated.
Pam Banks , Executive Director of RIC Centre, stated that the RIC Centre is delighted to bring technology innovators like Ready Set Go and ImagineAR together with local BIAs to strengthen the capacity of local businesses to recover from COVID-19 and thrive.
“The goals for this DMS Community Collaboration project are to test consumer and business acceptance of augmented reality walking tours and their impact on the local economy.”
Mark Silver , President of Ready Set Go, stated that using the ImagineAR mobile AR platform is an ideal way for BIAs to help local retailers drive in-store and online revenue.
“We are grateful for the opportunity to lend our experience and expertise to this project to bring families back into their communities for unique and socially-distanced activities this winter.”
The ImagineAR mobile app is available for download on the App Store and Google Play. Signage will be posted at various locations along Queen Street South in Streetsville to let people know how to activate and join the tours. The interactive walking tours will be updated regularly with new business promotions and fun activities to encourage people to come back and enjoy the outdoors and main street businesses safely.
About RIC Centre
RIC Centre is a not-for-profit innovation hub and business incubator based in Brampton , serving the Peel Region and Southern Ontario . RIC Centre’s focus is to be a dynamic catalyst for tech companies. The team consists of more than 100 expert advisors, industry, academic and government partners. RIC Centre helps companies in Advanced Manufacturing, Internet of Things, Hardware & Software, Cleantech and Life Sciences to commercialize their products and get them to market faster.
About Digital Main Street
Digital Main Street (DMS) is a program that helps main street businesses achieve digital transformation. DMS, in partnership with FedDev Ontario and the Ontario Ministry of Economic Development, Job Creation and Trade, announced its new Future Proof Program on August 19, 2020 . With Future Proof, DMS aims to expand their support to help small businesses across Ontario recover from the COVID-19 pandemic and prepare for future economic storms. The Future Proof program is designed to have regions explore what is possible when we bring the innovation ecosystem together with main street businesses. It offers three streams of support: Transformation Teams, DMS Lab Projects and Community Collaboration Projects.
About Ready Set Go Design Inc.
Ready Set Go Design is a digital product design company founded in 2016 and based in Waterloo, Ontario . Their mission is to help drive customers’ business growth by designing products and services around their customers, informed by research, data and experimentation.
About ImagineAR
ImagineAR Inc ., with headquarters in Vancouver, BC (CSE: IP) (OTC: IPNFF) offers an augmented reality (AR) platform that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Using the ImagineAR mobile app, any organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds.
About Streetsville BIA
The Streetsville BIA’s mission is to maintain and promote a vibrant business community within the historic Village of Streetsville dedicated to serving the needs of local businesses and residents. The Streetsville BIA is directed by a volunteer Board of Management who meets monthly to deal with a full range of agenda items that impact the heritage sites and businesses along Queen Street South from Britannia Rd W to Reid Drive in Mississauga .
All trademarks of the property of respective owners.
We encourage you to do your own due diligence and ask your broker if Imagine AR Inc. (cse: IP) is suitable for your particular investment portfolio*.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward- looking information is based on certain key expectations and assumptions made by ImagineAR management. Although Imagine AR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagine AR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagine AR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Posted by AGORACOM-JC
at 7:42 AM on Friday, November 20th, 2020
Announced that it will work with Shoppers Drug Mart and the event production agency HUMANCONTACT Inc., to deliver an Immersive AR Experience to over 2500 Corporate Staff, Pharmacist-Owners, and Front Store Managers across Canada.
Using the ImagineAR Custom White-label mobile app, Shoppers Drug Mart will integrate dynamic AR into the live streamed virtual event sessions.
“To be selected by Shoppers Drug Mart for their company-wide events validates ImagineAR is the leading AR immersive platform available today,” said Alen Paul Silverrstieen, CEO and President of Imagine AR.
VANCOUVER , BC and ERIE, Pa., Nov. 20, 2020 – ImagineAR (CSE: IP) (OTCQB: IPNFF) an Augmented Reality Company that enables sports teams, brands and businesses to instantly create their own mobile phone AR campaigns, is pleased to announce that it will work with Shoppers Drug Mart and the event production agency HUMANCONTACT Inc., to deliver an Immersive AR Experience to over 2500 Corporate Staff, Pharmacist-Owners, and Front Store Managers across Canada. Using the ImagineAR Custom White-label mobile app, Shoppers Drug Mart will integrate dynamic AR into the live streamed virtual event sessions.
Karen Bossin , Director, Conferences & Events at Shoppers Drug Mart said; “We are excited to integrate ImagineAR into the launch of our 2021 Virtual Conferences, including on-screen live-streamed AR activations as well as real-time Immersive AR delivered into the homes of our attendees all across Canada . Shoppers Drug Mart is thrilled to be the global pioneer in integrating mobile augmented reality with virtual events.”
Gareth Musico , President of HUMANCONTACT, stated “Our approach to virtual events has been to re-imagine the traditional video call or stream experience and deliver engaging, interactive, and customized content to attendees at home. ImagineAR is an extension of this mission and we’re excited to utilize its capabilities for virtual events and conferences.”
“To be selected by Shoppers Drug Mart for their company-wide events validates ImagineAR is the leading AR immersive platform available today,” said Alen Paul Silverrstieen, CEO and President of Imagine AR. “With the success of this interactive program, we expect to aggressively market our AR Immersive Event Solution to retail companies around the globe.”
This press release is available on the Company’s AGORACOM Discussion Forum , a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
About HUMANCONTACT Inc.
HUMANCONTACT is the most versatile creative agency of its kind. They are proud to offer clients an unrivaled breadth of capabilities and expertise, always delivered with the personalized service and strategic touch that sets them apart.
Core services include strategy & consultation, event production, design & branding, communications, video production, web development, and more, but there is hardly anything that they can’t do. www.humancontact.com
About ImagineAR
ImagineAR Inc. (CSE: IP) (OTC: IPNFF) is an augmented reality (AR) platform, ImagineAR.com, that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3D holograms and any interactive content all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The AR Enterprise platform supports both IOS and Android mobile devices and upcoming wearable technologies.
All trademarks of the property of respective owners.
We encourage you to do your own due diligence and ask your broker if Imagine AR Inc. (cse: IP) is suitable for your particular investment portfolio*.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward- looking information is based on certain key expectations and assumptions made by ImagineAR management. Although Imagine AR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagine AR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagine AR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Posted by AGORACOM-JC
at 5:16 PM on Thursday, November 19th, 2020
2020 has been a disappointing one for the once euphoric cannabis industry thanks to the fallout of over-hyped and over-financed companies that failed to deliver on a fraction of their promises.
The year 2000 saw the exact same thing happen to “dot-com” companies that failed in even more spectacular fashion. Many investors swore off internet stocks forever.
The smart ones waited to see which companies were real … and the rest was history as we saw the birth and growth of internet companies that delivered real value, products and customers.
The same is about to happen in the Cannabis space. With the market estimated to hit $70 Billion over the next few years, there is very little doubt that winners will be created out of companies delivering real businesses.
Enter Innocan Pharma Corporation (INNO:CSE) (IP4: FSE) and it’s incredible team of accomplished scientists led by CEO Iris Bincovich.
As a Cannabis investor, why limit yourself to a Company with just one specialty, when InnoCan offers you exposure to both the exploding world of cannabis pharma, as well as, a portfolio of patent-pending and launch ready consumer health products, the latter of which have already announced distribution and manufacturing agreements throughout Europe and the United States.
If you believe in the future of the cannabis and companies delivering real, value-add CBD products, then watch this interview with Innocan CEO, Iris Bincovich.
Posted by AGORACOM-JC
at 6:09 PM on Wednesday, November 18th, 2020
Announced that it has received final approval from the Toronto Stock Exchange (“TSX”) to graduate from the TSX Venture Exchange (“TSXV”) and list its common shares (“Common Shares”) on the TSX
Company’s Common Shares will be listed for trading on the TSX at the opening of markets on Friday, November 20, 2020 under its current trading symbol “PYR”
In connection with the listing of the Common Shares on the TSX, the last day of trading on the TSXV will be Thursday, November 19, 2020
MONTREAL, Nov. 18, 2020 — PyroGenesis Canada Inc. ( http://www.pyrogenesis.com ) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the “Company”, the “Corporation” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce that it has received final approval from the Toronto Stock Exchange (“TSX”) to graduate from the TSX Venture Exchange (“TSXV”) and list its common shares (“Common Shares”) on the TSX.
The Company’s Common Shares will be listed for trading on the TSX at the opening of markets on Friday, November 20, 2020 under its current trading symbol “PYR”. In connection with the listing of the Common Shares on the TSX, the last day of trading on the TSXV will be Thursday, November 19, 2020 and the Common Shares will be delisted from the TSXV effective as of the commencement of trading on the TSX. Shareholders will not be required to take any action in connection with the graduation and listing on the TSX.
“It is indeed a pleasure to be able to announce today that PyroGenesis is uplisting to the most senior exchange in Canada, the TSX, this Friday. We are very pleased to announce this significant achievement for PyroGenesis that confirms our development and growth as a company. I want to take this opportunity to thank the team at PyroGenesis, as well as the professionals who guided us; particularly our legal advisors,” said Mr. Peter Pascali, CEO and Chair of PyroGenesis. “We also would like to thank the TSXV for providing us with the platform to grow into the Company we are today, and attract a solid stable of investors. It is important to recognize that a platform, be it the TSXV or the TSX, is only part of the equation. The PyroGenesis team, technologies, as well as the solid base of business, and business relationships we have developed, while on the TSXV, are well suited for this graduation.”
“We look forward to this uplisting and the additional credibility that the Company will gain by trading on the most significant stock exchange in Canada, which is also one of the largest in North America 1 ,” added Ms. Rodayna Kafal, VP IR & Comms. and Director of PyroGenesis. “We anticipate that this step change will provide PyroGenesis with greater visibility in the marketplace and access to a broader and more diverse range of international and institutional investors.”
About PyroGenesis Canada Inc
PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products. The Company provides its engineering and manufacturing expertise and its turnkey process equipment packages to customers in the defense, metallurgical, mining, advanced materials (including 3D printing), and environmental industries. With a team of experienced engineers, scientists and technicians working out of its Montreal office and its 3,800 m 2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The Company’s core competencies allow PyroGenesis to provide innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified. For more information, please visit www.pyrogenesis.com .
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward- looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Corporation’s current expectation and assumptions and are subject toa number ofrisks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Corporation with respect to future events and are subject to certain risks and uncertainties and other risksdetailed from time-to-time in the Corporation’s ongoing filings with the securities regulatory authorities, which filings can be found atwww.sedar.com,or atwww.otcmarkets.com.Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward- looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTCQB accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc. For further information please contact: Rodayna Kafal, Vice President, IR/Comms. and Strategic BD Phone: (514) 937-0002, E-mail: [email protected] RELATED LINK: http://www.pyrogenesis.com/
Posted by AGORACOM
at 8:18 AM on Wednesday, November 18th, 2020
Generates 21.2% Sequential Revenue Growth, with Record Gross Revenues of $19.6 Million and Continued Positive Adjusted EBITDA (1) of $4.5 million
Reports Strong Combined Gross Margin of 54.7% (1) Driven by Improved Harvest Yields and Higher Wholesale Volumes
Expects Full Year Gross Revenues of Approximately $61 Million – $63 Million with Adjusted EBITDA of 8-10% (1)(2)
OAKLAND, CA and TORONTO, Nov. 18, 2020 /CNW/ – Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR) (OCTQX: HBORF), a California-focused, vertically integrated cannabis enterprise, today reported its financial results for the period ending September 30, 2020 (“Q3 2020”). The Q3 2020 financial report and corresponding management’s discussion and analysis (collectively the “Q3 Filings”) are available for download from the Company’s investor website,investharborside.com, and on the Company’sSEDAR profile. Unless otherwise indicated, all dollar amounts in this press release are in U.S. dollars.
Management Commentary
“We’ve implemented strong operational improvements that have continued our progress towards long term profitability and sustained growth. Harborside continues to be one of the leaders in the Northern California market,” said Peter Bilodeau, Chairman, and interim Chief Executive Officer. “As our production capacity is expected to ramp up in early 2021, following the completion of the planned upgrades at our Salinas greenhouse facility, we expect to be well-positioned to accelerate our growth and continue to gain wholesale market share. I’m thrilled with how far Harborside has come this year and look forward to further growth in 2021.”(2)
Q3 2020 Financial Results and Highlights (2)(3)
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Retail Revenues
$10,681,897
$10,940,143
$10,181,471
$9,511,221
Wholesale Revenues(a)
$8,890,723
$5,208,439
$4,456,775
$2,185,701
Total Gross Revenues(a)
$19,572,620
$16,148,582
$14,638,246
$11,696,922
Retail Gross Profit(e)
$5,353,429
$5,601,565
$5,219,890
$4,903,947
Wholesale Gross Profit(a)(e)
$5,360,764
$2,435,952
$787,964
-$1,373,186
Total Gross Profit(a)(e)
$10,714,193
$8,037,517
$6,007,854
$3,530,761
Retail Gross Margin(b)(e)
50.10%
51.20%
51.30%
51.60%
Wholesale Gross Margin(a)(e)
60.30%
46.80%
17.70%
-62.80%
Total Gross Margin(e)
54.70%
49.80%
41.00%
30.20%
G&A/Professional Fees(c)(d)
$6,783,987
$6,764,781
$5,786,573
$7,621,971
Adjusted EBITDA(e)
$4,473,046
$642,025
$431,562
-$2,796,178
NOTES:
a. Not including excise taxes or biological asset adjustments.
b. Retail gross margin in Q1 2020 and Q2 2020 are slightly affected by additional expenditures on personal protective equipment and other safety measures due to the COVID-19 pandemic. Retail gross margin in Q2 2020 and Q3 2020 include additional pay for the Company’s front line workers and expenses relating to the impacts of the civil unrest in the Bay Area to certain of the Company’s retail stores.
c. Professional Fees for the fourth quarter of 2019 include approximately $953,000 in one-time fees and accruals for legal matters
d. Professional Fees for Q2 2020 and Q3 2020 include approximately $977,000 and $1,115,000, respectively, in one-time costs relating to the audits and restatements of certain of the Company’s previous financial statements.
e. This is a non-IFRS reporting measure. For a reconciliation of this to the nearest IFRS measure, see “Use of Non-IFRS Measures” and “Non-IFRS Measures” in the Company’s management discussion and analysis for September 30, 2020.
Q3 2020 Financial Summary
During Q3 2020, Harborside generated total gross revenues of approximately $19.6 million. This represented 21.2% sequential growth over the second quarter of 2020 (“Q2 2020”) and a 42.9% year-over-year increase when compared to the approximately $13.7 million of gross revenues reported in the period ending September 30, 2019 (“Q3 2019”). Combined gross profit before excise taxes and adjustments for biological assets was approximately $10.7 million, an 85.8% year-over-year increase as compared to the $5.8 million reported in Q3 2019. On a year over year basis, combined gross margins increased from 42.1% in Q3 2019 to 54.7% in Q3 2020(1).
Harborside’s wholesale operations reported gross wholesale revenues of approximately $8.9 million, representing 70.7% sequential growth compared to Q2 2020 and a year-over-year increase of 169.4% as compared to the approximately $3.3 million in gross revenues reported for Q3 2019. The year-over-year increase in gross wholesale revenues was primarily due to improved harvest yields and production of premium flower, higher sales volumes, and higher average prices per pound at the Company’s 47-acre integrated production campus in Salinas, California (the “Salinas Facility”). As compared to gross wholesale revenues, wholesale gross margins increased from -22.1% in Q3 2019 to 60.3% in Q3 2020(1).
The Company’s retail operations generated revenues of approximately $10.7 million, a 2.8% increase as compared to the approximately $10.4 million realized in Q3 2019, with gross margins improving from 48.5% to 50.1% on a year-over-year basis, despite increased costs for safety and staffing related to COVID-19 and inventory losses experienced during the civil unrest that occurred in the Bay Area.(1) The year-over-year increase in retail revenue was driven primarily by the Company’s enhanced merchandising and pricing initiatives which resulted in, amongst other things, improved product mix, selected pricing changes and higher sell-through of internally produced products. Across Harborside’s retail stores in California, the Company’s branded products represented from 9 to 14 of the 25 top-selling SKUs in Q3 2020.
Total operating expenses for Q3 2020 were approximately $7.8 million, including $1.15 million in one-time costs related to the audit and restatement of prior year financials. This was a 7.5% year-over-year decrease when compared to approximately $8.5 million of costs incurred in Q3 2019. The year-over-year decrease in operating expenses is primarily related to a decrease in general and administrative expenses of $1.1 million to $4.1 million as compared to $5.2 million in Q3 2019, a decrease in allowance for credit losses of $0.3 million, and a decrease in write-downs of receivables, investments and advances of $1.3 million, as no impairments were recorded on any of the Company’s investments in Q3 2020.
During Q3 2020, the Company also recorded an income tax provision of $1.8 million, compared to $1.3 million in Q3 2019, based on estimated federal income taxes payable at period-end.
Operating Income for Q3 2020 was approximately $0.8 million, compared to an operating loss of approximately $3.6 million for Q3 2019. Net loss and comprehensive loss was $2.4 million, compared to a net loss and comprehensive loss of $1.9 million in Q3 2019, a 24.2% decrease on a year-over-year basis. The year over year decrease was due primarily to additional income tax provisions and related interest expense booked during Q3 2020.
Adjusted EBITDA(1) for Q3 2020 was approximately $4.5 million, compared to a negative EBITDA(1) of approximately $0.9 million for Q3 2019, with the year over year increase being driven largely by improved operating efficiencies and headcount reductions across the Company. See “Non-IFRS Financial Measures, Reconciliation, and Discussion.”
Q4 2020 and Full Year Expectations (2)(4)
The Company expects Q4 2020 gross revenues to follow a more historically typical seasonal pattern, with lower flower production and wholesale revenues, resulting in total combined gross revenues of $11 million to $12.5 million for the fourth quarter, with EBITDA(1) for the quarter close to breakeven. For the full year ended December 31, 2020, the Company expects gross revenues in the range of approximately $61 – $63 million, with Adjusted EBITDA(1) for the year in the range of 8 – 10% of revenues.
Liquidity and Cash Balance (2)(3)
As of September 30, 2020, Harborside had approximately $13.3 million in cash. The increase in cash balance since the second quarter of 2020 included a delay in payment of approximately $1.6 million of sales taxes that were due to the state of California. Payment of these taxes was postponed by the state as part of their COVID-19 business relief program and, in accordance with state guidelines, the funds were ultimately remitted at the end of October 2020.
Recent Operational Highlights
Wholesale Operations: Harborside recently announced planned cultivation facility upgrades at the Salinas Facility. The planned upgrades include, among other things, the installation of blackout curtains and supplemental LED grow lights at the Salinas Facility. Following the successful completion of these upgrades, the Company expects an approximately 50% increase in production, an expected approximately 10% increase in bulk wholesale revenue capacity, and an approximately 7% increase in the total productive capacity, on an annualized basis(2)(4). The upgrades are expected to be completed within the first quarter of 2021(2).
In furtherance of its brand strategies, Harborside announced that two of its award-winning in-house brands, Harborside Farms and Key, introduced new product offerings for the market. Key has added ‘Key Mini Pre-Rolls’, a pack of seven 0.5g strain specific pre-rolls, to its product suite. These mini pre-rolls use flower that is sustainably grown in Harborside’s state of the art greenhouses using proprietary techniques. Key also recently offered a new seasonal SKU, ‘Limited Edition Skeleton Key Mini Pre-Rolls’, a nighttime blend of G4 OG and Gelato 33 packed in seven 0.5g mini pre-rolls. Harborside Farms has also added ‘Harborside Farms Quarter Ounces’, which offers strain-specific and single-origin flower from Harborside Farms. The Company also recently commenced sales of clones grown at its Salinas Facility at all Harborside branded retail locations, including Desert Hot Springs.
Capital Markets: During Q3 2020, the Company commenced trading on the OTCQX under the ticker symbol of “HBORF” and, subsequent to the quarter end, Harborside received depository trade clearance (DTC) eligibility.
Acquisitions: Subsequent to Q3 2020, Harborside announced it had executed a definitive agreement with FGW Haight, Inc. (“FGW”) to acquire majority ownership FGW, which holds a dispensary license in the historic Haight-Ashbury District of San Francisco, where the Company expects to start operations in the second quarter of 2021(2).
Secured Indemnity
On November 17, 2020, the Company and its subsidiaries entered into a guaranty and security agreement to guarantee and secure the obligations of the Company to defend and to indemnify its directors and officers (collectively, the “Secured Indemnity“). The Secured Indemnity is intended to supplement coverage available under existing directors and officers insurance maintained by the Company in order to mitigate concerns about claims and potential claims against directors and officers and whether the available insurance applies to and will satisfy in full such claims and potential claims. The scale and complexity of the Company’s operations in a highly regulated sector requires that the directors and officers managing those operations be committed to the performance of their duties without undue or inappropriate distractions. In management’s view, concerns about claims and potential claims and adequacy of insurance may detract from the performance of the directors and officers involved in the Company’s operations or lead to their resignations, which would disrupt the Company’s business. The Board has therefore determined that it is in the best interests of the Company and its subsidiaries to enter into the Secured Indemnity in order to induce the directors and officers to perform their duties to the Company, provide comfort to the directors and officers involved in the Company’s operations and to encourage their ongoing services.
The Secured Indemnity constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101“). The Company is relying on the exemptions from the valuation and the minority approval requirements of MI 61-101 provided for in subsections 5.5(a) and 5.5 (b) and subsection 5.7(a) of MI 61-101, respectively, as the Company’s shares are not listed on specified markets and neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Secured Indemnity, in relation to the interested parties, will represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.
Harborside Inc., a vertically integrated enterprise with cannabis licenses covering retail, distribution, cultivation, nursery, and manufacturing, is one of the oldest and most respected cannabis companies in the world. Founded in California in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States. Today, the company operates three major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California’s only cannabis drive-thru window, a dispensary in Oregon and an integrated cultivation/production facility in Salinas, California. Harborside continues to play an instrumental role in making cannabis safe and accessible to a broad and diverse community of California and Oregon consumers. Harborside is currently a publicly listed company, trading on the CSE under the ticker symbol “HBOR” and the OTCQX under the ticker symbol “HBORF”. Additional information regarding Harborside is available under Harborside’s SEDAR profile atwww.sedar.com.
Posted by AGORACOM-JC
at 8:14 AM on Wednesday, November 18th, 2020
Safe Space Technology™
Company intends to sell BioCloud directly to various potential customers. At the same time the Company is pursuing both exclusive and non-exclusive distribution channels for BioCloud sales
Entered into two non-exclusive BioCloud distribution agreements
Distribution agreements cover Ontario and Saskatchewan
Kontrol Energy Corp. is in the process of changing its name to Kontrol Technologies Inc.
The name change is anticipated to take place by the end of December 2020
As of November 17, 2020, the Company has $3.8 Million of cash on hand
“Our team continues to execute on the vision to create and bring to market a safe space technology,” says Paul Ghezzi, CEO of Kontrol.
Distribution Agreements
The Company intends to sell BioCloud directly to various potential customers. At the same time the Company is pursuing both exclusive and non-exclusive distribution channels for BioCloud sales. Kontrol is pleased to announce it has entered into two non-exclusive BioCloud distribution agreements. The distribution agreements cover Ontario and Saskatchewan.
The Company has also entered into discussions with various parties for potential industry exclusive distribution agreements which would require minimum unit quantity orders.
New Website
Kontrol has launched a new website for BioCloud. For more information please visit www.kontrolbiocloud.com.
Name Change
Kontrol Energy Corp. is in the process of changing its name to Kontrol Technologies Inc. The name change is anticipated to take place by the end of December 2020.
Cash on Hand
As of November 17, 2020, the Company has $3.8 Million of cash on hand.
About Kontrol BioCloud
BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud has been designed for spaces where individuals gather including classrooms, retirement homes, hospitals, mass transportation and others
BioCloud is not a medical device and the Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
About Kontrol Energy
Kontrol Energy Corp. (CSE:KNR)(OTCQB: KNRLF)(FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
Kontrol Energy is one of Canada’s fastest growing companies in 2018 and 2019 as ranked by Canadian Business and Maclean’s.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com.
For further information, contact:
Paul Ghezzi, Chief Executive Officer [email protected] or [email protected] Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected, that customers and potential customers will not be as accepting of the Company’s product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. In particular, successful development and commercialization of the Kontrol BioCloud Analyzer are subject to the risk that the Kontrol BioCloud Analyzer may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol’s lack of track record in developing products for medical applications.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
Posted by AGORACOM-JC
at 2:25 PM on Tuesday, November 17th, 2020
Kontrol Energy is the Google NEST of smart building technology, with a Blue Chip client base to prove it with the likes of Beyond Meat, Toyota, Oxford, Telus and Brookfield to name a few.
As a result, Kontrol is already achieving commercial success as follows:
Q1 $2.3M
Q2 $2.7M
TOTAL Q1 AND Q2
REVENUE $5M
GROSS PROFIT $2.7M
ADAPTING CORE TECH TO PROVIDE BLUE CHIP CUSTOMERS WITH REAL-TIME AIR DETECTION OF COVID-19 IN COMMERCIAL BUILDINGS
As a result of the COVID-19 pandemic and the needs of its blue chip customer base, Kontrol is adapting its core technologies team to development and commercialize its Kontrol BioCloud® analyzer, a wall-mounted technology which detects the presence of COVID-19 in the air of commercial buildings and triggers an alert system to provide real time notifications.
GEARING UP PRODUCTION FOR UP TO 20,000 UNITS PER MONTH
Initial expectations, based on lab testing completed to date, is that BioCloud will be effective in small to medium space settings with 3 or more people, and therefore would be suitable for areas such as classrooms, offices, airplanes, trains, buses, long-term care facilities and hospitals. The company is currently building a global supply chain with the goal of being able to supply 20,000 units per month.
The implications of the Kontrol BioCloud® analyzer could be enormous and could have a major impact on the global economy. Paul Ghezzi, CEO of Kontrol Energy has received calls from interested parties spanning the entire globe. In addition, mainstream media has taken notice:
Early tests suggest new Canadian technology could detect the coronavirus in the air Read More
Canadian firm develops tech to ‘detect COVID-19 in the air’; stock doubles Read More.
Kontrol Energy’s BioCloud Featured By Singapore’s IBI Times Read More
CSA APPROVAL RECEIVED ON NOVEMBER 5TH
On Novebmer 5th, KNR announced receipt of CSA standards approval for its BioCloud® technology.
“This is another important milestone for Kontrol and represents the continuing advancement of the BioCloud® technology,” says Paul Ghezzi, CEO Kontrol. “CSA is a Canadian standard for safety and is also accepted in jurisdictions outside Canada. In addition to CSA we continue to work on other important regional certifications including UL and CE for the United States and European markets respectively.”
UL STANDARDS APPROVAL RECEIVED NOVEMBER 12TH
“We continue to execute on the important milestones for commercialization of BioCloud,” says Paul Ghezzi, CEO of Kontrol. “With CSA and UL we now have standards approval that covers Canada, the United States and various other global regions. We continue to work towards CE standards certification which is primarily for the European market.”
DISCLAIMER: The Company has not made any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
For more information about the company, please check out the Kontrol Energy hub on AGORACOM.
FULL DISCLOSURE: Kontrol Energy is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM-JC
at 8:39 AM on Tuesday, November 17th, 2020
KeHE is one of the largest and most well regarded national fresh, natural and organic and specialty food distributors in North America. Else and KeHE have activated five distribution centers in various regions across the U.S. This distribution will enable Else’s first product to be on the shelves of numerous U.S. retail stores, including a soon-to-be announced, national major grocery chain.
