PALM BEACH, Florida, Sept. 13, 2019 /PRNewswire/ -- This October, CBD will retake center stage. In fact, on October 17, 2019, Canada is expected to legalize it for the second time. A year after Canada legalized dried cannabis flower, oils, and sprays, the country is expected to legalize edibles, beverages, and topicals, including cannabis vapes, which, by the way, were not included on President Trump's list of potential bans. In addition, Health Canada even recommended vaping over smoking. Plus, according to analysts at Deloitte, up to 60% of Canadians would use cannabis edible products. That's opening a wide range of opportunity for companies such as Nutritional High International Inc. /zigman2/quotes/202994808/delayed CA:EAT -14.29% (otcqb:SPLIF), KushCo Holdings Inc. (otcqx:KSHB), Cronos Group Inc. /zigman2/quotes/206842762/composite CRON +1.11% , Aphria Inc. /zigman2/quotes/207425803/composite APHA +0.24% /zigman2/quotes/205566616/delayed CA:APHA 0.00% , and Altria Group Inc. /zigman2/quotes/208895754/composite MO -0.18% .
Nutritional High International Inc. /zigman2/quotes/202994808/delayed CA:EAT -14.29% (otcqb:SPLIF) BREAKING NEWS: Nutritional High International Inc. just announced a distribution relationship in California with PurBlend Science, Inc., the makers of the VOOZ vapor delivery system, through its wholly owned subsidiary, Calyx Brands. VOOZ is a next generation pod-based delivery system, combining a unique hardware design accommodating many types of oil including high viscosity, uncut cannabis oil, resulting in superior delivery of flavor and potency for the user. "VOOZ is truly a new generation of all-in-one pod-based vaping systems," said Mark Vuozzo, CEO of PurBlend Science. "The vPod snaps into place via a magnet, allows for easy swapping of flavors or oil type on the go. VOOZ excels in performance for very thick CBD/THC oils and resin." The VOOZ pod-based vaping system features a unique 1.0ml/0.5ml V-Pod design utilizing gravity feed. A nano-tech ceramic coil with increased surface area and improved airflow helps deliver optimal draw and flavor. Pods feature a larger hole, making it easy for consumers to customize their experience by filling their own pods. A magnetic base allows for easy changing of pods. "Consumers are wanting to move beyond the traditional 510-threaded vape cart," said Dakota Sullivan, CEO of Calyx Brands. "The VOOZ pod system delivers a vaping experience that people find uniquely satisfying in both true cannabis flavor and high impact pulls."
Other CBD-related developments from around the markets include:
KushCo Holdings Inc. (otcqx:KSHB) announced the creation of their new Retail Services division. The new business unit will focus on providing comprehensive retail solutions, through strategic partnerships with best-in-class sales agencies, to leading CBD brands. KushCo's retail services division will focus on industry education and compliance, as well as building distribution networks of CBD brands across conventional retail channels. With Retail Services' experienced leadership optimizing growth opportunities, this division will expand the Company's platform and fuse two industries that have historically operated independent of each other. In his position as Vice President of Retail Services, Ryan Savage will oversee sales agency partnerships, including C.A. Fortune, a leading full-service national consumer products sales and marketing agency focused on lifestyle brand partnerships. In addition, he will manage the expansion of CBD into the retail space across all channels, driving sales through management of brands, brokers and customers to increase distribution and revenue growth. Ryan Savage has spent the past 15 years gaining knowledge of multiple aspects of the consumer-packaged goods (CPG) industry. He has worked with many diverse, major retailers including Sprouts, Trader Joe's, Target, Amazon, and Kroger, in both a branded and private label capacity.
Cronos Group Inc. /zigman2/quotes/206842762/composite CRON +1.11% announced that it has closed its previously announced acquisition of four Redwood Holding Group, LLC operating subsidiaries. The transaction provides Cronos Group with a leading U.S. hemp-based products platform, including hemp-derived cannabidiol (CBD) infused skincare and other consumer products that are sold online and through retail and hospitality partner channels in the United States under the brand, Lord Jones. Mike Gorenstein, Cronos Group's Chairman, President and Chief Executive Officer, said, "this acquisition is one of a number of new growth opportunities that is differentiating our company and our strategic direction. We are pleased to have completed this acquisition and look forward to working closely with Rob and Cindy to further build on their record of innovation and fully capitalize on the platform they have created."
Aphria Inc. /zigman2/quotes/207425803/composite APHA +0.24% /zigman2/quotes/205566616/delayed CA:APHA 0.00% just posted its results for the fourth quarter and fiscal year ended May 31, 2019. "It's a new day at Aphria. Our team's solid execution across key areas of our business resulted in strong adult-use revenue growth and a profitable fourth quarter," stated Irwin D. Simon. "Over the last six months, our organization identified immediate priorities to help generate substantial progress near-term and long-term. We built upon existing business fundamentals and capabilities, streamlined processes, strengthened governance, and focused on building brand awareness. Together, we have nurtured an entrepreneurial culture of accountability through data-driven decision-making for value creation in the global medical and adult-use cannabis industry. Today's Aphria has a stronger foundation for long-term growth and success." The company posted net revenue of $128.6 million in the fourth quarter, an increase of 75% from prior quarter and 969% from prior year; revenue for adult-use cannabis of $18.5 million in the fourth quarter, up 158% from prior quarter; and net income of $15.8 million and adjusted EBITDA of $0.2 million in the fourth quarter.
Altria Group Inc. /zigman2/quotes/208895754/composite MO -0.18% announced that its Board of Directors voted to increase Altria's regular quarterly dividend for the 54 [th] time in the past 50 years. The Board approved a dividend increase to $0.84 per common share versus the previous rate of $0.80 per common share. The quarterly dividend is payable on October 10, 2019, to shareholders of record as of September 16, 2019. The ex-dividend date is September 13, 2019. "We are extremely proud of Altria's fifty-year history of dividend growth," said Howard Willard, Altria's Chairman and Chief Executive Officer. "Over the past half century, Altria has demonstrated its steadfast commitment to rewarding shareholders despite numerous shifts in the tobacco landscape. Today, we remain focused on our shareholders as we lead the industry through a period of evolution." The new annualized dividend rate is $3.36 per common share, representing a yield of 7.3% based on Altria's closing stock price of $46.25 on August 21, 2019. Today's dividend increase reflects Altria's intention to return a large amount of cash to shareholders consistent with a dividend payout ratio target of approximately 80% of Altria's adjusted diluted earnings per share.
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