Point Roberts, WA and Delta, BC - August 13, 2019 (www.waternewswire.com) Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot reporting on recent news and developments in the CBD beverage sector.
The future of the beverage market is clearly pointing to the cannabis industry. A recent Forbes article sums it up, "Cannabis drinks are already big business, and they're growing fast. When people think about cannabis, the first thing that comes to mind is usually smoking it, then vaping it or eating it inside an edible. Until recently, the idea of drinking cannabis wasn't really on most people's radars. But that's starting to change"
American Premium Water Corporation (OTC: HIPH), known for its LALPINA CBD water, just reported today that the two-container order the Company received earlier this year is on track for delivery in September. This order will generate over $200,000 in topline revenue. Due to ongoing fluctuations in the British Pound, the final sale amount from this order will be realized at delivery according to Generally Accepted Accounting Principles ("GAAP").
American Premium Water Corporation CEO, Ryan Fishoff stated: "The Company continues to execute its business plan. With completion of financing from this delivery and other sales and revenue initiatives, I am confident that the Company will surpass its most recent guidance of $1 million in revenue for the 2019 fiscal year. The Company is focused on deriving roughly 50% of revenue from outside the US; this order will help guide us to that benchmark. The Company is generating revenue from other outlets, with larger transactions in the pipeline, which has given us the confidence to reaffirm guidance, including our JV with Hanlons Brewery." (www.hanlonsbrewery.com)
"We are focusing all our energies and efforts into exceeding the $1 million revenue target and we're confident that we may very well exceed it. We are also moving full steam ahead with our audit, led by our retained auditors Weinberg & Co. (http://www.weinbergla.com/), and once that is complete, begin the process to uplist. There are a lot of exciting initiatives in the pipeline; I look forward to sharing updates with the investor community on these and other developments in the near future."
The company also reports, "LALPINA CBD water can now be purchased online by visiting https://www.singleseed.com/product/lalpina-cbd-water-6-pack/"
NEW AGE BEVERAGES CORPORATION (NASDAQ: NBEV) reported on August 8th, "record financial results for the second quarter ended June 30, 2019. The Company achieved record sales, with net revenue reaching $66.3 million versus a prior year of $13.4 million, a growth of 397%."
According to Zack's Research, New Age Beverages is benefiting from strength in its portfolio of brands. This also includes the enhancement of cannabis-infused beverage portfolio. Additionally, the company is on track to expand its core brand portfolio. It is likely to gain from its strategic buyouts such as the Morinda acquisition. Notably, it is in the process of integrating Morinda into New Age. This acquisition was completed on Dec 21, 2018.
Furthermore, New Age Beverages has been strengthening its foothold in the e-commerce distribution system. Moreover, it is focused on accelerating business in the second half of 2019 by strengthening organic growth, with the launch of CBD portfolio, expanding core brands' national distribution in the United States, and a number of other initiatives in the second quarter and throughout the rest of 2019.
Net revenue reached an all-time high of $66.3 million, up 397% over Q2 2018 and a 14% increase sequentially from Q1 2019.
Gross margins increased to 63% compared to 13% in the prior year quarter.
Achieved positive Adjusted EBITDA compared to a loss of $2.2 million in Q2 2018 and a net loss of $11.7 million during Q2 2019.
Maintained strong Balance Sheet with cash of $83.6 million and positive working capital of $57.8 million
"We are pleased with our second quarter operating results, which again exceeded our guidance in revenue and positive Adjusted EBITDA," stated Brent Willis, Chief Executive Officer of New Age Beverages. "We finished the quarter strong and believe that we will see good organic growth in the second half of 2019. With the strength of our balance sheet and the improved sales and marketing capabilities that we added with the Brands Within Reach acquisition, we believe we are building excellent momentum for continued improved operating performance in the back half of the year."
On July 29th, HEXO Corp (TSX: HEXO) (NYSE: HEXO) reported its cannabis products are now available to Alberta consumers for the first time after finalizing an agreement between HEXO and Alberta Gaming, Liquor and Cannabis (AGLC).
Continued: The agreement provides AGLC with HEXO's nine dried flower products and award-winning Elixir oral sprays, making them available at the Alberta Cannabis online store and to all of the nearly 200 private retail stores in the province.
"This agreement marks the latest achievement in the development of HEXO's presence in Western Canada and our goal to be top two in market-share in the country," said HEXO Corp CEO and co-founder, Sebastien St-Louis. "Alberta represents one of the largest cannabis markets in Canada and we are thrilled to see our products are available to Albertans across the province."
With HEXO and Up Cannabis brands, HEXO products are available in nine provinces, expanding the Company's footprint in Canada and providing more choice for consumers.
Hexo made headlines last year with its partnership with Molson Coors announcing "Molson Coors Canada and HEXO Announce Agreement to Create Joint Venture Focused on Non-Alcoholic, Cannabis-Infused Beverages for the Canadian Market."
In a recent CTV news interview Gavin Hattersley, who currently heads the MillerCoors US operations, said. "The company intends to discuss at its next quarterly call the brands of Truss non-alcoholic cannabis-infused beverages that its joint venture partner marijuana producer Hexo Corp. will begin to sell after the product is legalized later this year."
"Mark Hunter said Molson Coors dipped its toes in the cannabis space a year ago to "be on the playing field" as demand for these beverages expands to other geographies, including the United States once "legislative complications" are addressed. Marijuana is illegal in the U.S. at the federal level, but many in the space believe the political winds are shifting."
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (TGODF) expects to release its second quarter 2019 earnings today, Tuesday, August 13, 2019 after market close. The Company will hold a conference call conducted by Brian Athaide, Chief Executive Officer, and Sean Bovingdon, Chief Financial Officer, on August 14, 2019 at 9:00 am Eastern Time to discuss the results and future outlook.
The company also just recently announced that it has submitted an application to list its common shares on the NASDAQ. This followed news that that it successfully renewed its Health Canada licences for the Company's Ancaster, Ontario facility until August 2022. As per the Cannabis Regulations, these licences authorize TGOD to cultivate, process and sell cannabis from its Ancaster site.
In May they reported the Company's strategic investment into the US beverage space as a co-founding investor and strategic partner in the newly formed Califormulations LLC ("Califormulations"). Califormulations will operate out of Columbus, Georgia serving global branded companies with concept-to-shelf beverage commercialization support including formulation development, technical services, in-house pilot scale production and contract manufacturing co-ordination. TGOD will work with Califormulations to expedite the US launch of TGOD branded organic hemp-based CBD beverages, as local laws and regulations permit.
"We are incredibly excited to partner with Califormulations to further our development of hemp-based CBD beverage products," said Brian Athaide, CEO of TGOD. "With the US market for functional beverages, including wellness, energy and sport recovery, currently worth over USD$20 billion, we want to remain on the cutting edge of innovation and establish the foundation for future proprietary and novel TGOD-branded products. TGOD strives to partner with established industry leaders, and we believe that this forward-looking strategic partnership positions TGOD to capitalize on the future cannabinoid beverage market."
The recent mass exodus of key executives from the food and beverage sector to take leading roles in the cannabis industry points to the future of beverages; drinking up the profits of a new era in the sector.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
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