Phoenix, Arizona--(Newsfile Corp. - February 6, 2020) - The Stock Day Podcast welcomed Cannara Biotech Inc. (OTCQB: LOVFF) ("the Company"), a company building one of the largest indoor cannabis cultivation facilities (625,000 square feet) in Canada and the largest in Québec. Lennie Ryer and Barry Laxer joined Stock Day host Everett Jolly.
"Now that you have received your cultivation license, how do you intend to create long term value for your shareholders?", asked Jolly. "We need to show strong top line in terms of revenues, we need to quickly get to positive earnings per share, and we need to show long term sustainability through positive cash flow," said Ryer.
"We believe we can attain these goals for three basic reasons," he explained. "Being in Quebec, we have the lowest cost of goods in the country," said Ryer. "We also have scale," he added, noting that the Company's facility is 625,000 sq. ft. The Cultivation License has been granted on Phase I of the building, which represents 170,000 sq. ft. "Most importantly, we've taken great steps to develop superior genetics and produce hopefully premium strains of cannabis," Ryer.
"What exactly is a premium strain, and what makes yours different?", asked Jolly. "Premium strain is really actually a subjective term," explained Laxer. "The catch-all with cannabis tends to be the amount of THC within the strain," said Laxer. "Cannabis can possess up to 30%-32% THC levels, which a big chunk of the market considers as premium," explained Laxer. "It can also have different combinations of THC and CBD," said Laxer.
Laxer then expanded on other cannabis qualities that can be considered premium, and explained how the Company has strategically sourced different types of strains from all over the world to appeal to a wide variety of consumers.
The conversation then turned to the Company's capital market strategy. "Our balance sheet reflects sufficient liquidity to execute on our business plan. We are targeting around mid-year to start revenues from B2B sales from cannabis," explained Ryer. "There's a multitude of opportunities for M&A and assets that are available, and while we're not ignoring these opportunities, we're being very cautious to not get distracted," said Ryer. "We know that our stakeholders want us to get to positive earnings per share as quickly as possible and this is the focus of the management team."
To close the interview, Laxer shared that the Company has an advantageous position in the cannabis industry given their understanding of the market and adjusting regulations. "We understand that cannabis is a business," said Laxer. "We are profit driven and we're modest in terms of our expenses, overhead, and front office, and we're a real production driven company," he continued. "We want our shareholders to know that we are here for the long term, we're here to generate a profit, and we're here to produce a first grade product," closed Laxer.
To hear the entire interview with Cannara Biotech Inc., follow the link to the podcast here: https://audioboom.com/posts/7497672-lennie-ryer-and-barry-laxer-of-cannara-biotech-inc-are-featured-on-the-stock-day-podcast
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About Cannara Biotech Inc.
Cannara Biotech Inc. (CSE: LOVE) (OTCQB: LOVFF) (FRA: 8CB), is building one of the largest indoor cannabis cultivation facilities (625,000 square feet) in Canada and the largest in Québec. Leveraging Québec's low electricity costs, Cannara Biotech's Farnham Facility will produce premium indoor cannabis and cannabis-infused products for the Canadian and international markets.
The CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact Information
Investment inquiries
Lennie Ryer, CPA, CA
CFO
lennie@cannara.ca
514-543-4200 Ext. 253
Media inquiries
Sabrina Williams
Communications Manager
sabrina.williams@cannara.ca
514-543-4200 Ext. 265
About The "Stock Day" Podcast
Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day provides companies with customized solutions to their news distribution in both national and international media outlets. The Stock Day Podcast is the number one radio show of its kind in America. Stock Day recently launched its Video Interview Studio located in Phoenix, Arizona.
SOURCE:
Stock Day Media
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