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Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Marks Impressive Performance for Q2 2021

  • $58.5 million in Adjusted Sales for first six months of 2021
  • The company also reported repaying approximately $18 million of debt and restructuring over $20 million into a long-term debt
  • Q2 also marked RWB’s acquisition of Acreage Florida, as well as an operational 45,000 SF greenhouse within the state, which it projects, will begin harvesting in Q4 2021
  • RWB’s CEO expressed his optimism about the company’s performance in the Q3 and the second half of the year, given the strides made and the momentum realized in Q2
On August 30, Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) released its financial results and subsequent events report for the second quarter of the 2021 fiscal year (“Q2, 2021”). While making the announcement, Brad Rogers, the Chairman and Chief Executive Officer (“CEO”) of the company, expressed his optimism about the company’s performance in Q3 and the second half of the year, owing to the strides made by the company, and the momentum realized in Q2. Key takeaways from the announcement included the company’s Q2 13% increase in revenue over the first quarter of the year. It is noted that there were significant raw material inventory purchases over that period, in support of growth for Q3 and anticipation of new branded product launches later down the line. Adjusted sales for the first six months of the 2021 fiscal year totaled $58.5 million, with revenue for Q2 totaling $13.3 million, up from $11.8 million in Q1 2021. The gross margin (excluding adjustments for biological assets) was $9.5 million for Q2 2021 (https://ibn.fm/esKgg). In addition to a growth in revenue, RWB also received the Florida Department of Health, Office of Medical Marijuana Use approval and closed the acquisition of Acreage Florida. Acreage Florida is a company that is licensed to operate medical marijuana dispensaries, a processing facility as well as a cultivation facility within the state of Florida. The transaction would see RWB possess a 114,000 SF facility for cultivation and a 4,000 SF freestanding administrative office building located on 15 acres in Sanderson, Florida. “In Florida, after closing the acquisition at the end of April, we have made strategic investments that are allowing us to quickly ramp up capacity as well as complete construction for new store openings before the end of 2021,” noted Mr. Rogers. Q2 2021 also saw RWB secure 20 double wide fully enclosed cultivation pods that will offer approximately 19,000 square feet of turn-key cultivation space. These pods will also provide 14,400 SF of canopy capable of producing over 7,000lbs of flower every year. RWB also announced having completed the more comprehensive portion of Michigan’s two-step application process for medical marijuana licensing through its wholly-owned operating subsidiary, RWB Michigan, LLC. Additionally, by the close of Q2 2021, RWB had completed over $52 million in financing transactions, retiring at least $7.7 million in debt. The company also closed the acquisition of an operational 45,000 SF greenhouse located on 4.7 acres of land in Apopka, Florida. It projects that the facility will be ready for harvest by Q4 2021. RWB also exercised its option to extend the maturity of its Credit Facility to January 2022, with an option to further extend it to July 2022. In total, over the Q2 2021 period, approximately $10 million of debt was retired, with additional agreements to restructure $20 million of debt, expected to close over the first week of September 2021, and with the maturity date moved to January 2023. RWB is a first-mover, an industry leader in American cannabis. It is driven by becoming the prominent and most recognizable cannabis company in the United States (“US”). It is proud of its ethical, manufacturing, branding, educational and employment standards, the highest in the industry. Since its inception, the company has positioned itself as one of the top three multi-state operators in cannabis and hemp-derived product lines within the US market. Headquartered in Vancouver, RWB has made significant investments within the US and has pending acquisitions in Michigan, and Massachusetts, with plans to enter California at scale. The company plans to create the first-ever standardized cannabis facility in the US to ensure superior quality. For its operations in Michigan, RWB uses a 3rd party licensee. The licensing agreement specifies that the revenue the company can recognize is product sales, less direct expenses, and inventory purchases. Consequently, RWB’s revenue in Michigan is always understated. Still, the company has managed to post impressive results, which make its future look promising. Q2 2021 was remarkable for RWB. Fiscal performance was impressive, and the company also made some strategic decisions and investments that guarantee its growth in performance as time progresses. The company is confident and optimistic about its performance in Q3 as well as the second half of 2021, all stemming from the progress and the momentum achieved from Q2. For more information, visit the company’s website at www.RedWhiteBloom.com. NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://ibn.fm/RWBYF

Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) CEO Discusses Psychedelics, Company’s Progress, Plans, Business in a Recent Bell2Bell Podcast Interview

  • Mind Cure Health Inc. CEO Kelsey Ramsden was featured in a recent Bell2Bell podcast interview, during which she explained the company’s primary focal points – digital therapeutics and drug development
  • On the digital therapeutics side of its business, the company is developing iSTRYM, a clinical-grade, evidence-backed, science-based, AI-driven tool for both therapists and patients, scheduled for full commercial launch in Q1 2022
  • MCUR has successfully synthesized the chemically complex ibogaine and intends to scale up its production during the remainder of 2021
As a diversified life sciences company at the forefront of the mental health industry, Mind Cure Health (CSE: MCUR) (OTCQB: MCURF) actively develops technology, conducts research, and distributes products. According to company President and CEO Kelsey Ramsden, who was featured in a recent Bell2Bell podcast (https://ibn.fm/dyDt5), its two focal points are digital therapeutics, focusing on psychedelic therapy, and drug development, leaning toward psychedelic molecules. When the company was developing its model and go-to-market strategy, it considered the regulation and timing of regulatory change instead of solely focusing on clinics and molecules. This positions the company to align with changes at the government level unlocking some of the psychedelic molecules. “What that meant for us was investigating molecular research that would be the blue-sky horizon, so, independent of when the typical generic MDMA or Psilocybin get approved, we’re in charge of the approval process, meaning we do the clinical research on the novel molecule to get it to market. That is drug development,” stated Ramsden. On the digital therapeutics end, Mind Cure Health is developing a clinical-grade, evidence-backed, science-based, AI-driven tool, known as iSTRYM, for therapists deploying psychedelic assisted therapy in clinics. iSTRYM, which modernizes care, is also meant to help patients have an app that supports them through their care, resulting in better outcomes, shorter patient timeframes in clinic, and approval and unlocking insurance payments for psychedelics. Once dismissed as trifles of counterculture, psychedelics are now being held to a higher regard. This is largely due to revelations, through research, that they can be used to treat mental health conditions such as depression, drug dependency, PTSD, and more. However, according to a New York Times article, they are yet to receive mainstream acceptance despite the ongoing scientific work to change this (https://ibn.fm/ffIQo). This is perhaps due to stigma and the old view people may still have of psychedelics, which is why podcast host Stuart Smith sought to find out how the company intends to deal with this hurdle. “I do think we do have some of these hurdles to overcome, but, at the same time, with tools like digital therapeutics and research-backed psychedelics, I think we overcome some of the stigma with science,” Ramsden explained. So far, in 2021, MCUR has reached some key milestones, including raising $23 million in a bought deal short form prospectus public offering that closed in February this year (https://ibn.fm/BJH9h). On the technology side, MCUR launched the minimum viable product (“MVP”) of iSTRYM in Q3 2021. On the drug development and research side, the company synthesized ibogaine and has launched the second stage of manufacturing pharmaceutical grade ibogaine to be used in clinical research. The company has also filed patent applications for two routes of chemical synthesis of ibogaine. “Ibogaine comes from the iboga root out of Africa. It’s a psychedelic drug and is very complex chemically, very difficult to build in the lab fully chemically synthesized, which is what we need to get stability and normalcy so that we can meet FDA regulations. And our team successfully synthesized ibogaine – the full chemical synthesis,” Ramsden continued. When asked about the company’s plans for the remainder of 2021, the company intends to spend about six months iterating the iSTRYM product in anticipation of a full commercial product launch in Q1 2022. Mind Cure Health also aims to scale up its ibogaine production to provide the psychedelic drug to researchers. Further, it is working on new research initiatives, to be announced in due course. For more information, visit the company’s website at www.MindCure.com. NOTE TO INVESTORS: The latest news and updates relating to MCURF are available in the company’s newsroom at http://ibn.fm/MCURF

RYAH Group Inc. (CSE: RYAH) Publishes Report Outlining Cannabis Treatments for Conditions Associated with HIV and AIDS

  • RYAH releases report outlining ways cannabis is being used to treat conditions associated with HIV and AIDS
  • Report data compiled by RYAH Data Ecosystem between January 1, 2018, and August 26, 2021
  • Data includes specific HIV and AIDS conditions, details cannabis strains used by patients
  • Three-part RYAH Data Ecosystem includes volume control and management devices, QR tracking to identify product formulations and parameters, mobile apps to manage information and provide feedback
With a mission to advance remote-health solutions and analytics-based patient treatments across the world, RYAH Group (CSE: RYAH) (formerly RYAH Medtech) is the leader in volume control and management technology for plant-based medicine. The company recently released a report outlining cannabis treatment options to address symptoms and conditions associated with HIV and AIDS. The report, titled “Cannabis Use For Conditions Associated With HIV and AIDS”, is based on data compiled by the RYAH Data Ecosystem between January 1, 2018, and August 26, 2021. Through the RYAH Data Ecosystem, patients were able to submit data outlining symptoms they addressed with the use of cannabis, in addition to detailing specific cannabis strains used to treat those conditions. Some of the conditions logged and analyzed by the RYAH Data Ecosystem included fatigue, cachexia (a disease characterized by loss of muscle mass), mental health issues, wasting syndrome, chronic pain, hepatitis C, nausea, and inflammation. Along with providing gender-specific details on the conditions experienced by users, the report also includes critical information on the diverse range of cannabis strains used by patients to treat each condition. The ground-breaking report is part of RYAH’s data-driven mission to provide innovative plant-based medical treatments that leverage the use of loT (Internet of Things) dose-measuring devices and AI analytics applications. With a focus on collecting and building AI-powered data models, the company’s three-part ecosystem is designed to manage volumetrics and capture pertinent data in order to provide innovative plant-based medical treatments tailored to each patient. Each segment of RYAH’s Data Ecosystem builds upon the company’s goal to generate a flow of information that is critical to building AI-powered models that enhance treatment administration. The first section focuses on providing precision volume control solutions with the RYAH Patch, Inhaler, and Liquid Dispenser. The second segment leverages a QR tracking application to track product formulations and volume control parameters. The final segment features RYAH’s mobile applications that patients can use to provide feedback via their smart devices. With a focus on predictive analytics in the global medical plant and nutraceutical intake industry, RYAH is dedicated to helping doctors and patients leverage the power of data to personalize plant-based treatments for better patient outcomes. Bolstered by a robust intellectual property portfolio and suite of portable, cost-effective products, the company is positioned to lead the industry in volume control and management technology for plant-based medicine. For more information, visit the company’s website at www.RYAHGroup.com. NOTE TO INVESTORS: The latest news and updates relating to RYAH are available in the company’s newsroom at https://ibn.fm/RYAH

PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) Strengthens its Board with Fred Leigh’s Appointment as Executive Chairman

  • On September 7, 2021, Mr. Fred Leigh was appointed as director and Executive Chairman of PlantX’s Board of Directors, effective immediately
  • Mr. Leigh previously chaired the company’s Advisory Board, which has since been dissolved
  • PlantX looks forward to leveraging on Mr. Leigh’s expertise, knowledge and over 40 years of experience in capital markets to help steer the company
  • Mr. Leigh’s appointment follows PlantX’s move to expand its market reach and grow its overall market presence
On September 7, 2021, PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) announced the appointment of Mr. Fred Leigh as a director and Executive Chairman of the company’s Board of Directors, effective immediately (https://ibn.fm/BThVn). Mr. Leigh’s appointment follows PlantX’s move to grow its market presence and overall market reach. This is marked by its investment in e-commerce, along with product diversification, as seen with its alcoholic beverage line (https://ibn.fm/RWdRz). The company looks to capitalize on Mr. Leigh’s expertise in the industry, along with his knowhow to steer the company forward and help achieve even bigger and more ambitious goals in the future. While confirming his appointment, Mr. Leigh noted: “I always look to be involved in scalable business models with potential, a focused vision and dedication to making a positive difference. I enjoy working along with strong founders who are dedicated, passionate and fully committed to their work.” He further added: “With Sean Dollinger as the relentless founder and the amazing PlantX team, I am honored to act and serve as Executive Chairman of PlantX.” Mr. Leigh previously served on the company’s Advisory Board. Additionally, he has over 40 years of experience in capital markets. Mr. Leigh has also founded and served in key executive roles within various companies that have since gone public. With his appointment as PlantX’s Executive Chairman, the company trusts that Mr. Leigh will offer leadership and lend the knowledge that he has gained over his years in the industry. The Advisory Board, which Mr. Leigh previously chaired, has since been dissolved. PlantX’s management noted that his appointment as Executive Chairman would mitigate the effects of this dissolution while also offering additional cost savings for the company. Mr. Leigh joins the rest of PlantX’s Board of Directors, including Lorne Rapkin, Peter Simeon, Quinn Field-Dyte, Ralph Moxness, and Alex Hoffman. For more information, visit the company’s websites at www.PlantX.comwww.PlantX.ca, and https://investor.plantx.com/ and view PlantX for Plant-Based Investors. NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF

Data Services Innovator FingerMotion Inc. (FNGR) Sees Growing Potential in China’s Insurance Market

  • U.S.-based data tech company FingerMotion is focused on the market potential of Chinese companies’ need for rich communication services (“RCS”) and big-data insights
  • FingerMotion has been particularly focused on the insurance industry’s need for data analysis in recent months, particularly in light of China’s early-stage structure for credit and risk assessment among consumers
  • FingerMotion’s Sapientus platform provides predictive services for risk assessment, spawning a landmark agreement with Pacific Life Re-insurance’s insurtech solutions in China
  • Because China regards insurance as compulsory for sectors such as pension protection, medical care, job hazards, unemployment and maternity care, the potential for insurance services is high in a country that boasts the largest population on the planet
China-focused communications technology company FingerMotion (OTCQX: FNGR) is using big data and analytical technology to provide its clients with market insights as a growing number of Chinese consumers adopt online insurance products. Last year, online insurance premiums surpassed 290 billion yuan (US$44.8 million) in the country, according to the Google translation of a Gold Investment Network insurance news release (https://ibn.fm/7g2lO). The popularity of online premiums among consumers fueled a rapid surge in new economic activity within the country that continues on an upward path as businesses turn to big data, cloud computing, artificial intelligence (“AI”), and other value-added technology to accelerate their revenues (https://ibn.fm/IDXw7). FingerMotion has seen its revenues grow in consecutive reporting quarters during the past year (https://ibn.fm/Yg42v) and is anticipating further success thanks in part to a landmark agreement with Pacific Life Re-insurance that effectively positions FingerMotion as Pacific Life’s data provider, utilizing FingerMotion’s trademarked Sapientus platform. Pacific Life is one of the world’s top five Insurance companies, well into its second century with $1.1 trillion in life insurance policies and $171 billion in assets (https://ibn.fm/DYI95). The company is on a trajectory to firmly bring its services ashore among China’s world-leading population, where consumers are required to carry social insurance and certain types of commercial insurance. Social insurance covers basic insurance policies for pensions, medical care, on-the-job injuries, unemployment, and maternity care, among other things. The China Banking and Insurance Regulatory Commission (“CBIRC”) is responsible for oversight of insurance and re-insurance regulation, and foreign companies must meet conditions for CBIRC’s approval (https://ibn.fm/gFBMF). Because China’s credit and insurance risk standards are still in a nascent stage, the predictive solutions offered by FingerMotion’s analytical technology and its big consumer data access provide clients such as Pacific Life a means of anticipating their risks with policy holders. The predictive services of FingerMotion’s Sapientus database are focused on the insurance industry, but may yet become integral to solutions in other industries as well, such as in varied health care, financial services and consumer e-commerce sectors. For more information, visit the company’s website at www.FingerMotion.com. NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR

Flora Growth Corp. (NASDAQ: FLGC) Inks €2M Investment in Hoshi As Part of its European Expansion Plan

  • Flora closed a €2 million investment in Hoshi International Inc., fulfilling the earlier-announced LOI back in June 2021
  • This move is set to capitalize on Hoshi’s strong European presence, its technical know-how along with its understanding of the European market
  • Hoshi acknowledged the investment with the announcement that it would work together with Flora to bring to market finished product formats from Flora’s brand portfolio
  • Flora referred to this investment as the first of many steps by the company to advance its plans to launch products across the world
On August 24, 2021, Flora Growth (NASDAQ: FLGC) announced closing a €2 million investment in Hoshi International Inc. It also announced that it had increased its fully-diluted ownership in Hoshi through a securities swap. When making the announcement, Luis Merchan, the President and Chief Executive Officer (“CEO”) of Flora, noted: “We are excited to increase our alignment with the Hoshi management team and believe the partnership will be much greater in scope than only using their Portugal and Malta facilities as a European importation gateway for our Colombian cannabis flower and derivatives” (https://ibn.fm/pTzKf). Earlier in June this year, Flora had announced signing a Letter of Intent (“LOI”) for planning to make an initial strategic equity investment into Hoshi. Flora termed this as “the first of many steps to advance its plans to launch Flora-branded products across the world” (https://ibn.fm/B9K8x). Having followed through with the investment, the company is now set to capitalize on Hoshi’s strong European presence. It is also bound to leverage the latter’s technical know-how, along with its understanding of the European market, to not only expand its market reach but also obtain its European Union Good Manufacturing Practices (“EU-GMP”) certification. John Aird, the CEO of Hoshi, noted: “We are excited to begin working alongside the Flora team and sharing our understanding of the European market while working together to bring to market finished product formats from Flora’s brand portfolio that are suitable for European medical consumers. He further added: “Not only has Flora made an investment into Hoshi, but through our securities swap, the Hoshi management team also has a vested interest in the success of Flora Growth and our long-term working relationship.” Flora’s €2 million investment came with the following terms:
  • Flora would hold a right of first refusal to supply any cannabis oil or derivative products acquired by Hoshi or any of its affiliates at the processing facility in Malta. This will be subject to the parties entering into a definitive agreement by October 1, 2021
  • Flora would be Hoshi’s preferred supplier of genetic material and finished cannabis derivative products at its cultivation and processing facility in Portugal, subject to the two parties entering into a definitive agreement by October 1, 2021
  • Flora would be entitled to nominate one Director to Hoshi’s Board of Directors, specifically Luis Merchan, Flora’s President and CEO
  • Hoshi will use commercially reasonable efforts to grant Flora access to its EU-GMP auditors to assist Flora to obtain EU-GMP certification at its Cosechemos cultivation and extraction facility in Colombia
Hoshi is a fully integrated cannabis company that focuses on the European market. Its team comprises renowned cannabis entrepreneurs, hence its focus on developing and operationalizing assets across the global cannabis industry. Hoshi’s focus and emphasis are on cultivating, manufacturing, and distributing cannabis products throughout the EU. So far, the company is uniquely positioned to become the leading provider of cannabis and derivative products for this budding European market. On the other hand, Flora is a cannabis cultivator, processor, and brand builder with a focus on the international market. It has made a name for itself by leveraging natural and cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions, including pharmaceuticals, hemp textiles, cosmetics, and food and beverage. Flora currently operates one of the world’s most extensive outdoor cultivation facilities, intending to market a higher-quality premium product at below-market prices. 2020 was a big year for the European medical cannabis industry. Germany’s imports of certified flower for medical purposes reached 9,231 kg, according to the Federal Institute for Drugs and Medical Devices. Between January and September 2020, the value of medical cannabis transactions in Germany alone amounted to €111 million, with flower sales accounting for 48.6% of these sales. Prohibition Partners has even projected that by 2024, over one million German patients will have access to medical cannabis, making Germany the leading European cannabis market in terms of growth. It is further projected that the German medical cannabis market will be worth €7.7 billion by 2028. By the end of 2021, it is estimated that the entire European cannabis market will be valued at €403.4 million. By 2025, this industry is set to be valued at €3.2 billion, representing a compound annual growth rate (“CAGR”) of 67.4% between 2021 and 2025. Flora hopes to capitalize on Hoshi’s understanding of and presence within the European market to capitalize on its strategic growth plans. Closing this investment is a step in the right direction and a first in Flora’s overall expansion plan to venture into the European market for its cannabis products. For more information, visit the company’s website at www.FloraGrowth.ca. NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC

Lexaria Bioscience Corp. (NASDAQ: LEXX) to Address Advances in its Bioavailability Technology DehydraTECH(TM) at Wainwright Life Sciences Conference

  • Drug delivery technology innovator Lexaria Bioscience is celebrating the positive outcomes of clinical testing of its trademarked DehydraTECH platform for reducing the blood stream delivery time of anti-virals, NSAIDS and potential hypertension treatments
  • Lexaria will participate in H.C. Wainwright’s annual Global Investor Conference this month to help bring further attention to its successes
  • The DehydraTECH technology enhances the delivery of pharmaceuticals that can be administered orally, and testing has shown no adverse chemical compounds have been created in the process
  • The COVID-19 pandemic has raised the profile of the anti-viral medication market, enhancing the opportunities for Lexaria’s revenue stream
As life sciences technology innovator Lexaria Bioscience (NASDAQ: LEXX) takes a leap forward in R&D programs demonstrating the effectiveness of its trademarked oral substance delivery platform, the company is preparing to join other participants in the 23rd annual Global Investor Conference hosted by full-service investment bank H.C. Wainwright & Co. The investor conference scheduled Sept. 13-15 will be a hybrid online and in-person gathering of companies enjoying opportunities for platform presentations, one-on-one meetings with investors, and networking with other attendees (https://ibn.fm/TiS8V). Lexaria’s CEO, Chris Bunka, will be making the company’s presentation, which will be available to attendees on Monday September 13th. Lexaria’s recent strides in developing and testing its oral delivery platform DehydraTECH include its successful 2021 antiviral drug program, which has produced data showing DehydraTECH can enhance antiviral drugs’ ability to reach the bloodstream so that they can safely and more effectively do what they are designed to accomplish. DehydraTECH processed substances such as pharmaceutical drugs enhance their bioavailability, and the clinical trials have also demonstrated that DehydraTECH does not alter nor degrade the drug molecules chemically as to create new molecular entities (“NMEs”) that would create new regulatory concerns for the finished products (https://ibn.fm/VWWld). H.C. Wainwright has a history of leading investment transaction volumes ranked by market research service PlacementTracker. Wainwright has consistently placed first among investment banks for confidentially marketed public offerings, registered direct and private placement transactions, according to the analysts (https://ibn.fm/lG6DA). The September event will include a panel discussion with former Food and Drug Administration Commissioner Scott Gottlieb (2017-2019), who is a member of the board of directors of drug maker Pfizer, Inc., and is preparing to roll out his long-awaited book, “Uncontrolled Spread: Why COVID-19 Crushed Us and How We Can Defeat the Next Pandemic,” this month. The antiviral medication market has gained particular attention during the ongoing COVID-19 pandemic, and Lexaria’s DehydraTECH is in a position to potentially bring in significant revenues in partnership with the antiviral medications as well as NSAIDs and products that target hypertension and alternative nicotine products — an opportunity the company has been mindful of. The potential for using DehydraTECH in conjunction with cannabidiol (“CBD”) to target hypertension is one of the sectors of Lexaria’s research gaining attention following the results of a recent study showing DehydraTECH-processed CBD generated a rapid and sustained drop in blood pressure among study participants (https://ibn.fm/AZQYS). “Lexaria was also pleased that its DehydraTECH-CBD was well tolerated by all subjects, with no serious adverse events or side effects observed or reported. Ingestion of the concentration-matched, generic CBD control, on the other hand, resulted in unwanted side effects in some of the volunteers,” the company’s news release states. “These findings corroborate what Lexaria has previously evidenced in other unrelated studies whereby human volunteers have also experienced reduced side effects with DehydraTECH-processed test articles compared to concentration-matched, generic controls.” A second human clinical hypertension study of DehydraTECH’s capabilities is under way, and a third study is planned this year once the results of the first two studies are carefully evaluated and considered. For more information, visit the company’s website at www.LexariaBioscience.com. NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://ibn.fm/LEXX

Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) to Share Updates on Its PFN Program Pipeline at the Upcoming H.C Wainwright 23rd Annual Global Investor Conference

  • Tryp Therapeutics is set to present at the H.C Wainwright 23rd Annual Global Investor Conference scheduled for Sept. 13-15, 2021
  • Greg McKee, company chairman and CEO, will provide an overview of the business and its pipeline, including the Psilocybin-for-Neuropsychiatric Disorders (“PFN”) program
  • Tryp’s presentation will be available on-demand from 7.00 a.m. EDT on Sept. 13
  • Through the PFN program, Tryp is focused on developing psychedelic compounds targeting diseases with high unmet medical needs, such as chronic pain conditions and eating disorders
As a company at the forefront of the psychedelic renaissance, Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) has differentiated itself by focusing on what most psychedelic drug development companies are not. Guided by an exceptional roster of scientific advisors and an experienced management team led by Tryp chairman and CEO Greg McKee, Tryp is developing psychedelic compounds targeting diseases with high unmet medical needs through its Psilocybin-for-Neuropsychiatric Disorders (“PFN”) program. The PFN program, which features TRP-8802 as the lead drug candidate and TRP-8803 as the proprietary formulation with a novel method of administration, targets chronic pain conditions, including fibromyalgia, phantom limb pain, complex regional pain syndrome and others, as well as eating disorders such as hypothalamic obesity, binge eating disorder and others. Tryp intends to proceed directly into Phase 2a human trials by leveraging existing preclinical and clinical data for the active pharmaceutical ingredients in TRP-8802 and TRP-8803. To this end, it has partnered with leading academic institutions that have indication-specific expertise needed for the trials. Tryp has also entered into an agreement with a contract development and manufacturing organization (“CDMO”) for the research, development and GMP manufacturing services for synthetic psilocybin that will form the basis of the PFN program. It has further engaged another CDMO to develop the analytical methods and final formulations of its TRP-8802 and TRP-8803 products (https://ibn.fm/FUSJx). According to a recent press release, the company will present at the conference, with Greg McKee providing an overview of the business and its pipeline updates, including the PFN program. Tryp’s presentation will be available on-demand starting at 7:00 a.m. EDT on Sept. 13 (https://ibn.fm/F5YQU). Founded in 2019 and headquartered in San Diego, California, Tryp Therapeutics has made significant progress that positions it favorably in the promising psychedelic medical market. It is also similarly poised to leverage growth opportunities spanning multiple therapeutics markets, in line with its commitment to lead the next wave of psychedelic drug development beyond mental health. For more information, visit the company’s website at www.TrypTherapeutics.com. NOTE TO INVESTORS: The latest news and updates relating to TRYPF are available in the company’s newsroom at https://ibn.fm/TRYPF

Simply Sonoma Inc. Offering Organic CBD Alternatives to Traditional Manufactured Products

  • Company is committed to providing products based on formulations driven by solid scientific research
  • Simply Sonoma is creating three tiers of products
  • The company is developing products in four areas: the sleep aid market, the pain and inflammation sectors, the probiotic space, and the beauty and skin segments
In a CBD market becoming ever more crowded, Simply Sonoma is preparing to launch a line of CBD products that is truly distinctive. The company, which is also in the midst of a SEC regulation CF offering, is creating unique medicinal hemp strains that are alternatives to traditional, chemically manufactured offerings. Specifically, the company is committed to providing products based on formulations driven by solid scientific research (https://ibn.fm/bMBJ7). Simply Sonoma also works to educate consumers by providing relevant, timely information, including appropriate dosage levels. In addition, the company is looking beyond the traditional CBD offerings of gummies and tinctures, instead eyeing unique and different product options, such as CBD-infused organic apple juice and alcohol-free wine beverages. Initially, Simply Sonoma is planning on three tiers of products: organic CBD formulations for consumer medicinal applications; organic whole-plant extracts of CBD and cannabinoids that provide the whole-plant synergistic effect and offer a dose response for a variety of diseases; and organic extracts paired with traditional over-the-counter functionality that are designed to deliver all the benefits of traditional OTC products but are organic and plant derived for a more natural healthy approach, minimizing synthetic chemical components and adverse effects. In addition to its keen sensitivities to the most promising products, Simply Sonoma is also deeply aware of the best opportunities for growth and success. The company plans to develop products in four main areas: the global sleep aid market, which reached an estimated $175 billion last year; the joint and bone pain sectors, which are projected to top $41 billion by 2026; the probiotic space, which is forecast to reach $65 billion by 2023; and the beauty and skin segments, which totaled $380 billion in 2019. With its key differentiators already in place as a solid strategy backdrop, Simply Sonoma is projecting a five-year financial plan that shows gross revenues from these four segments reaching an estimated $15.5 million. Those numbers can only strengthen the company’s CF offering, which notes that Simply Sonoma is laser focused on providing the purest, organically grown products possible. The company does this by using CBD obtained direct from the farm with as little processing and manipulation as possible. In addition, Simply Sonoma principals have years of farming experience, as well as a history as scientists in the biotech industry. Simply Sonoma is a different kind of natural company. From seed to sale, it owns or contracts the organic grow, extraction and product formulation operations. The company has been developing products since 2017 based on scientific research and data and has several ready to launch. Its nationally available, organic CBD products utilize the company’s own unique formulations. For more information or to invest in Simply Sonoma, visit the company’s website at www.SimplySonoma.org. NOTE TO INVESTORS: The latest news and updates relating to Sonoma are available in the company’s newsroom at https://ibn.fm/Sonoma

Tingo Inc. (IWBB) Is ‘One to Watch’

  • Investor appetite in Africa continues to be robust, attracting $407 billion of Foreign Direct Investments (“FDI”) between 2014 and 2018
  • Agriculture makes up 23 percent of sub-Saharan Africa’s GDP and 60 percent of employment
  • Tingo directly benefits the African economy by helping farmers gain better prices for their crops
  • The company enables more efficient markets via greater distribution of agricultural products
  • Tingo directly provides an access point to technology for tens of millions of Africans
  • The company is expanding into fintech banking services for the mass market, providing access to financial services through Tingo Pay, its proprietary mobile wallet application
Tingo (OTCQB: IWBB) is a digital service agri-fintech technology company focused on foundation-level agriculture and related financial services in Africa. The company aims to be Africa’s leading agri-fintech player, transforming rural farming communities to connect through its proprietary platform to meet their complete needs – from inputs and agronomy to off take and marketplace – and deliver sustainable income in an impactful way. The company’s vision is to build complete digitally inclusive ecosystems that promote financial inclusion and deliver disruptive micro-finance solutions, empower societies, produce social upliftment in rural communities and open international opportunities. Tingo believes that a truly connected world will help contribute to a better global society. The company’s core focus areas are telecoms, financial services/fintech and agritech. Tingo’s goal is to provide a best-in-class customer experience, support the domestic economies of its host countries and support technological and financial inclusion to end the poverty premium. Through this, Tingo hopes to deliver attractive returns to shareholders while investing in the long-term future of the company and its subsidiaries. Global climate change is challenging sustainable production and food security. Tingo’s strategy and market execution provide an opportunity for Africa to be a core focal point to solve a number of key areas of concern, including food security, gender equality, financial inclusion and poverty alleviation, to name a few. Disruption of micro finance through the use of DeFi-based stable coins and smart contracts will give agri-communities access to capital markets-driven digital finance solutions that make them more competitive and sustainable economically, striking a good balance of returns between digital asset providers and Tingo as the service partner. This innovation will deliver significant access to much needed finance at ‘Grassroot’ levels, delivering tangible social upliftment and GDP growth in the African markets served by Tingo. Tingo Mobile, with more than nine million subscribers, is Nigeria’s leading technology and device-as-a-service platform aimed at accelerating digital commerce, especially in the country’s agritech and fintech verticals. The company helps farmers acquire mobile phones through a unique leasing plan, connecting them to mobile and data networks through its own virtual mobile network. Tingo also connects farmers to markets, services and resources via Nwassa, its digital agritech marketplace platform that commenced operations in 2020. The company has also launched a beta version of TingoPay – a B2B and B2C fintech app aimed at providing financial services to users inside and outside of the agriculture value chain. Among the services offered are mobile wallets, payment processing and access to specialist lenders, insurers and pension products. Tingo will soon announce its innovative blockchain-based solution for use of digital stable coins to empower frictionless trade across borders in Africa. The company’s market-proven model in Nigeria is its core foundation, enabling Tingo to deliver the same service model across Africa to become the continent’s leading agri-fintech business powered through smartphone technology. The African Continental Free Trade (“ACFT”) plan will be a key framework to prepare the company to be the leading intra-Africa trading hub for trade flows across Africa in the medium term, when it is likely the agreement will be executed into tangible activity. Tingo is well positioned to easily transform the goals of the ACFT into reality when finally implemented by the African Union and the various African countries that have not signed up. Tingo posted total revenue of $594 million in 2020, with $212 million EBITDA. As of December 31, 2020, Tingo has 9,344,000 subscribers. The company is confident that these figures will grow through its expansion across Africa and natural progression of business in Nigeria. Businesses Tingo has four core businesses:
  • Mobile Phone Leasing – Tingo has distributed almost 30 million mobile handsets since 2014 and will continue to replace the devices of its installed customer base every three years. Tingo Mobile provides the latest mobile phone handsets at an affordable price point and allows customers to spread payments over 36 months.
  • Mobile Voice and Data Service – Through a mobile virtual network, Tingo provides its customers with voice and data services, allowing customers to communicate effectively, both inside and outside the agricultural ecosystem.
  • Nwassa Marketplace Platform – Nwassa is Tingo’s proprietary agritech platform which provides Africa’s farmers with access to global markets to secure more competitive pricing for their crops. The platform processes 500,000 daily transactions with a value of over $8 million. A select group of trusted partners can assist smallholder farmers and agricultural cooperatives with packaging, warehousing, and dry and wet cargo logistics, as well as up-to-date information from the global agricultural sector. Tingo provides its customers with digital wallet services, which enable them to send and receive domestic payments, monitor cash flow in real time and securely hold money. The company also provides access to other services, such as utility bill payment, virtual airtime top-up, insurance services and alternative lending solutions.
  • TingoPay – Since the launch of the Nwassa platform, Tingo has been a dominant player in the B2B fintech vertical. After many successful months of operating Nwassa, Tingo entered the fintech B2C vertical to extend its B2B offering to a broader market beyond agriculture.
TingoPay is still in its beta phase and will launch in 2021 with a comprehensive marketing campaign. TingoPay offers the following services:
  • Tingo Wallet top-up
  • Peer to Peer payments, inclusive of merchant payments at the stores
  • Utility payments – airtime, broadband, cable, electricity, water, hotel, flights etc.
  • Pension payments
  • QR code payment services
Market Opportunity Africa is the second-largest continent by population. It is also the youngest by far, with a median age of 18 for its 1.3 billion people. Tingo believes the building blocks for growth in Africa’s agriculture industry are in place and that the company is well positioned to participate in the upside. Sub-Saharan Africa’s population is growing at a rate of 2.7 percent per year. At the current growth rate, the continent’s population will double by 2050. Africa’s youthfulness represents a significant opportunity for material growth in demand for agricultural commodities. This younger generation is also being born into a digital world and is comfortable using technology. Africa’s governments are improving business conditions for entrepreneurs and small businesses. Sub-Saharan Africa’s World Bank Doing Business rank has improved from 45 in 2004 to 65 in 2020. Tingo believes this trend will continue and encourage establishment of more new ventures across all economic sectors, including agriculture. Africa attracted $407 billion of Foreign Direct Investments (“FDI”) between 2014 and 2018. Investments are increasingly focused on services and industrial sectors. Only 20 percent of investments are in extractive industries – a clear reversal from 2008, when 55 percent of FDI was aimed at resource extraction. Tingo believes FDI into Africa will help resolve significant infrastructure constraints and create value for agribusiness. Management Team Dozy Mmobuosi is the CEO of Tingo. He cofounded Tingo Mobile PLC (Nigeria) in 2001 and led the design and launch of Nigeria’s first SMS banking solution, which is still in use in the country today. He also headed a team of more than 120 Chinese and Nigerian engineers in the construction of two mobile phone assembly plants in Nigeria, which have produced and distributed 20 million phones across the country. He has led Tingo’s growth to more than $600 million in revenue annually. He holds a Ph.D. in Rural Advancement from UPM Malaysia. Dakshesh Patel is the CFO of Tingo. He was formerly CFO of NatWest’s Global Debt and Investment Banking division. He has served as a Director at Gerken Capital Associates, a San Francisco-based alternative asset fund manager. He also led the restructure of Lloyds Banking Group (last financial crisis); managed integration of two leading shipping groups’ global treasury function to create world-leading shipping group Maersk Shipping; built three fintech companies; and exited one to Worldpay. Mr. Patel has strong banking experience, with a focus on Africa. He is a chartered accountant. Chris Cleverly is president of Tingo. He has served as CEO of the Made in Africa Foundation, and as CEO of blockchain payments gateway startup Kamari. He has been a board member of several companies, both public and private, in the UK, India, China and Africa. He has advised multiple UK companies on their entrance into African markets, and regularly advises the UK Government on development issues and African governments on investment issues. Clarence Simms is the Chief Technology Officer at Tingo. He has 25 years of IT and IT management experience. He has worked in IT Shared Services Technical Operations and IT Program Management for Huawei Technologies and MTN. As an entrepreneur, he created Africaprepay.com, a service that allows African Diaspora travelers to send airtime, pay bills, send mobile money and transfer money to a bank account from anyplace in the world. Rory Bowen is the Chief of Staff at Tingo. Mr. Bowen started his career in traditional capital and derivatives markets working for Moneycorp and Tradition UK in European and emerging markets across FX, interest rate derivative and government bond markets. He has also spent time with one of Europe’s fastest growing fintech’s banking circles. Before joining Tingo, he was Chief of Staff at FinTech Alliance, an organization established in partnership with the UK Government Department for International Trade to foster innovation, growth and foreign direct investment (“FDI”) in the financial services sector and facilitate greater public/private cooperation. For more information, visit the company’s website at www.TingoGroup.com. NOTE TO INVESTORS: The latest news and updates relating to IWBB are available in the company’s newsroom at https://ibn.fm/IWBB

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