PALM BEACH, Fla., Feb. 9, 2021
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., Feb. 9, 2021 /PRNewswire/ -- UBER was invented to 'deliver' people from "A" to "B". Now it's future is delivering alcohol. Recently, according to an article on CBS San Francisco, UBER announced that it is acquiring alcohol delivery startup Drizly for $1.1 billion in stock and cash. The deal, will result in Drizly being integrated into Uber's food delivery app while also remaining a standalone app. Drizly was founded in 2012, inspired by what the company's site describes as a "simple text" between two friends: "Why can't you get alcohol delivered?" It now partners with thousands of retailers in more than 1,400 US cities to sell alcohol through its platform to be delivered in under an hour. "Wherever you want to go and whatever you need to get, our goal at Uber is to make people's lives a little bit easier. That's why we've been branching into new categories like groceries, prescriptions and now, alcohol," said Uber CEO Dara Khosrowshahi in a statement." Active Cannabis companies in the markets this week include NxGen Brands Inc. (OTCPK: NXGB), ISW Holdings, Inc. (OTCPK: ISWH), Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), Tilray, Inc. (NASDAQ: TLRY), Puration, Inc. (OTCPK: PURA).
The news comes as delivery services have seen skyrocketing demand during the pandemic. Uber has leaned on Eats, its food delivery business, while its core rides business has plummeted. In July, Uber acquired one of its smaller food delivery competitors, Postmates, for $2.65 billion in an all-stock deal. The trend to add delivery to increase revenues is growing in other markets as well, specifically the Cannabis market. According to a recent report by ArcView Market Research and BDS Analytics, said that the delivery sub-market will be the highest, fastest growing stream in the market. It concluded: "The marijuana industry is hurdling forward in sales and business opportunities with no signs of stopping. The delivery sector is particularly one we should be keeping our eyes on, as it delivers the most promise for growth and robust revenue. As legalization heats up across the US, we can only expect delivery services to continue stepping up their game to meet the growing demand… With delivery licenses allowing cannabis delivery anywhere in California, the chance is now, and the opportunity is here."
NxGen Brands Inc. (OTCPK: NXGB) BREAKING NEWS: NxGen Brands, Inc. Cannabis Dispensary Delivery Services Market Expansion via Existing Operators - NxGen Brands announced this week that it has entered into a strategic alliance with Capital Cannabis Direct ("Partner") a California company that owns a delivery network specializing in both medicinal and recreational cannabis. The partnership will allow the Company to deliver its own proprietary brands of flower and CBD products, and will be the first to use our delivery services applications slotted for Q2 2021. This service is for a SAAS licensing model for dispensaries across the country. The sale and delivery of recreational and medicinal cannabis is projected to see explosive growth through 2027, and this transaction allows the Company to be at the forefront of the projected wave.
The partnership will allow NxGen Brands to produce and ship via Capital Cannabis Direct licensed delivery network both existing SKU's and Cannabis based edibles and topicals as an entry point into the industry.
"We are thrilled with our partnership given its innovative approach to creating a worry-free cannabis experience focused specifically on automation and discretion," said Angel Burgos, CEO of NxGen Brands Inc. The Company feels that the partnership brings Leafywell™ further along its strategic path of expansion and growth in targeting specific demographics of the cannabis market. With the signing of the agreement in February, this enables us to fast track the operations setup and line up the offering to the customers for now and into the near future. "We have been patiently waiting for the next step in the evolution of our business and have been planning this upgrade for quite some time. It was of absolute importance for us to select a company that has access to growers that are committed to QA/QC oversight," said Angel Burgos, CEO of NxGen Brands. "I can't wait for customers to see the quality of the products that will be available to the existing and the new ones which will experience the offering that we have been working on together with various labs throughout the United States". To read this and more news for NxGen Brands, please visit: https://nxgenbrands.com/news/
Other recent developments in the markets include:
ISW Holdings, Inc. (OTCPK: ISWH) recently announced that it is in the process of converting $20,000 of the Company's cash holdings into Bitcoin. The Company also announces that it will be regularly conducting similar transactions on a quarterly basis to convert a percentage of cash flows into Bitcoin. Management expects this transaction to be completed this week. The Company began transitioning cash resources into Bitcoin with an initial transaction in March 2019 at approximately $4,000/Bitcoin.
"We believe in the future of Bitcoin and digital payment systems, and cash represents an unproductive asset given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems," commented Alonzo Pierce, President and Chairman of ISW Holdings. "We are also on schedule to launch mining operations through our S19 Pod5 solution at the Bit5ive renewable energy project by the end of January." ISWH has also established itself as a health and wellness company with a focus on reshaping the CBD products market through state-of-the-art nanotechnology processes, developing a wide range of nano-infused CBD gummies and beverages formulations.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (together, the "Company" or "Organigram"), a leading licensed producer of cannabis, announced its results for the first quarter ended November 30, 2020 ("Q1 Fiscal 2021" or "Q1 2021").
"We are pleased with our double-digit sales growth in the Canadian adult-use recreational market this past quarter as it reflects the success of many of our new product launches, particularly in the dried flower value segment," said Greg Engel, CEO. "Now we look forward to our new higher margin Edison dried flower offerings contributing substantially to overall revenue with even more new products to come in the next few quarters. We believe our product portfolio revitalization combined with additional resources to ramp up production and achieve greater economies of scale as well as our relentless focus on increased automation and cost efficiency opportunities position us well to generate further top-line growth and significantly improve gross margins."
Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, recently announced it has agreed with Worldpharma Biotech ("Worldpharma"), through its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. ("Tilray Portugal"), to export Good Manufacturing Processes (GMP) certified medical cannabis from Portugal to Spain. The shipment marks the first medical cannabis import into Spain by Worldpharma and the 17thcountry to receive Tilray medical cannabis worldwide.
The Agencia Española de Medicamentos y Productos Sanitorios (AEMPS), Spain's food and drug administration, has approved Worldpharma to import Tilray's GMP-certified medical cannabis as raw material from its Portugal facility to Spain. With Tilray's pharmaceutical-grade cannabis, Worldpharma will develop medical cannabis products for clinical trials in Spanish Hospitals for diseases such as Alzheimer's, Parkinson's disease, and skin inflammation.
Puration, Inc. (OTCPK: PURA) recently announced finalizing plans to break ground this summer on its recently acquired 70-acre property in Farmersville, Texas to begin construction on its new facilities.
PURA recently announced expanding upon its current EVERx CBD Sports Water business generating approximately $2 million in annual revenue with the launching a new hemp lifestyle brand business intended to raise overall market awareness. PURA is building partnerships with other hemp related industry companies to pursue pilot enterprises that will help demonstrate full utility of hemp.
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