While Xebra Brands (CSE: XBRA)(OTCQB: XBRAF) waits on further cannabis developments in Mexico, the company commenced formal cannabis cultivation in the Netherlands, including THC varietals. In fact, according to the company, “As 1 of only 5 companies to be selected by the Dutch government to participate in trial medicinal cannabis cultivation, Xebra is endeavoring to be awarded 1 of 2 licenses, with a contract for up to 6 years, providing for revenues of up to US$79 million (€70.5 million), to co-supply all pharma-grade cannabis to be sold in the Netherlands.” Further progress in both Mexico and the Netherlands could be a substantial catalyst for Xebra Brand. It could also strongly impact Aurora Cannabis (NASDAQ:ACB)(TSX:ACB), Canopy Growth (TSX:WEED)(NASDAQ:CGC), Tilray Inc. (NASDAQ:TLRY)(TSX:TLRY), and OrganiGram Holdings (NASDAQ:OGI)(TSX:OGI).
Xebra on Track to Deliver First Cannabis Harvest in The Netherlands in March
Xebra Brands Ltd., a cannabis company, announced that its cannabis cultivation in the Netherlands is in the flowering stage, as Xebra readies to harvest and submit samples of its crop to Dutch authorities, by the end of March. Two samples will be delivered, one with high THC ±22%, and one with balanced THC ±6% and CBD± 8%.
As 1 of only 5 companies to be selected by the Dutch government to participate in a medicinal cannabis cultivation pilot trial, Xebra is endeavoring to be awarded 1 of 2 licenses, with a contract for up to 6 years, providing for revenues of up to ~US$80 million (€70.5 million), to co-supply all pharma-grade cannabis to be sold through pharmacies in the Netherlands.
The selection process includes the submission of samples from three cannabis trial crops, evaluated for certain criteria, including consistency and technical parameters. “We are extremely pleased with our smooth and successful results to date, as we carefully monitor every growth stage,” commented Rodrigo Gallardo, President of Xebra. “Our innovated equipment made it possible for us to automate much of the growing process from germination to flowering, ensuring maximum consistency,” further commented Mr. Gallardo.
Cultivation in the Netherlands is conducted in Xebra’s indoor facility. Xebra’s specific genetic varieties are characterized by high production, compact flowers of excellent quality and fine tasting terpene profiles, with a growth cycle of 12-16 weeks.
Xebra’s Director of Operations in the Netherlands, Harry von Duijne, is a cannabis horticulture expert with more than two decades of horticulture experience. He had a leading role at Bedrocan NL® from 2014 and 2017, where he was responsible for managing every aspect of operations of a state-of-the-art cannabis facility, from construction through cultivation and processing, quality management, and GMP certification. Bedrocan® produces medicinal-grade cannabis under contract for the Dutch Ministry of Health as the only licensed producer in the Netherlands, and for many years was the only licensed producer in all of Europe.
Other related developments from around the markets include:
Aurora Cannabis announced its financial and operational results for the second quarter fiscal 2022 ended December 31, 2021. "During the second quarter, we improved our Adjusted EBITDA by $2.5 million over Q1, moving us closer to our profitability goal. Our focus remains on further cost reductions, and we are pleased to announce today that we expect to reach the high end of the $60 to $80 million range. Our balance sheet remains among the strongest in the industry, with approximately $445 million in cash as of yesterday. This gives us significant working capital to support organic growth and positions us to pursue strategic M&A opportunities," stated Miguel Martin, Chief Executive Officer of Aurora.
Canopy Growth announced their participation in Natural Products Expo West 2022. Serving as a Silver Sponsor of the Expo, Canopy Growth’s CBD brands, including Martha Stewart CBD and Quatreau, will be on display from March 8-12 in Anaheim, CA. Canopy Growth will also host an industry panel at the show on Thursday, March 10 titled Cannabis Evolution: The Latest Innovations and Trends in CBD and Wellness. With consumers increasingly reaching for CBD products to support wellness, show attendees are invited to join Sol Clahane, Vice President and General Manager for the U.S. Region at Canopy Growth, CJ Rapp, CEO of Karma Culture, the manufacturer of Karma CBD Water, and Jonathan Small, Editor-in-Chief of Green Entrepreneur, for a lively conversation that unpacks CBD wellness trends and highlights innovations powering the CBD space.
Tilray Inc. announced proposed agreements for a commercial and financial partnership with HEXO Corp. that would bring together Canada’s top two cannabis market share leaders, strengthening their respective positions and setting the stage for increased production efficiencies amid competitive market dynamics. Under the terms of the proposed agreement, Tilray Brands would acquire up to US$211 million of senior secured convertible notes that were issued by HEXO and are currently held by funds affiliated with HT Investments MA LLC. The Notes would be amended to permit Tilray Brands to exercise conversion rights at a price of C$0.90 per HEXO Share and acquire a significant equity ownership position in HEXO, driving meaningful, additional upside and direct participation in HEXO’s considerable growth opportunities.
OrganiGram Holdings announced its results for the first quarter ended November 30, 2021. “Our record-breaking results in the first quarter of Fiscal 2022 are a testament to our successful strategy to create innovative, high-quality products that align with the evolving preferences of the various segments of cannabis consumers,” said Beena Goldenberg. “Our positive outlook for 2022 is further bolstered by the addition of Laurentian’s premium products to our portfolio, with an increased presence in Quebec and the resumption of international sales, which will continue through the year.”
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