Delta, Kelowna, BC – July 12, 2021 (Investorideas.com Newswire) www.Investorideas.com, as.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
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Investor Ideas Potcasts #585, Cannabis News and Stocks on the Move Interview with CEO of Province Brands
Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com “Potcast” featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast, Investorideas interviews Jennifer Thomas, CEO of Province Brands, where we discussed the last year of business for Province Brands, the company’s new partnerships and product capabilities as well as the cannabis beverage sector in general.
Province Brands of Canada is a food and beverage technology and branded products company that has developed a suite of patented and patent-pending technologies enabling the creation of a better class of plant-based sugars and fermentable beverages. Premium vegan and gluten-free sugars and beverages can be crafted from non-starch plant material and a variety of agricultural and food waste. When applied to beverages, Province Brands’ technology results in beers that are low calorie, low in carbohydrates and gluten free.
When asked about the last year of business Jennerier Thomas commented, “This is a really exciting time for our company. For a lot of people, going through a global upheaval was a really tough time but, for us as a company the pandemic has been an interesting moment for us to pause in a way that we never would have been able to before. For a long time our company has been focussed on one singular goal and that goal and that goal was surrounding a technology we have. That technology is taking leftover cannabis plants, everything after pruning and trimming and everything seen as waste in cultivation, and turning that into a premium product, mainly cannabis beer. Now in that pause that I mentioned earlier, it was the first time that we took the technology that we had and thought; what else could we do with it? So our science team got to work on pivoting and that’s when we discovered that our technology had a lot of applications we hadn’t thought of before, and a lot of applications outside of cannabis.”
Thomas continued saying, “Companies that have biomass don’t have to use our technology to make beer, that technology can also turn it into a sugar syrup or you could dilute it and create a ready to drink beverage.”
The company recently announced the execution of a Subscription Agreement for a CAD$25 million investment commitment from GEM Global Yield LLC SCS (“GEM”), the private alternative investment group.
Under the agreement, GEM will provide Province Brands with a Share Subscription Facility of up to CAD$25 million with a 36-month term provided that Province Brands’ common stock is listed on a major stock exchange. Province Brands will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation.
“We are excited to work with a world-class partner such as GEM. This partnership will support our plans to bring some really wonderful products to market,” said Jennifer Thomas. “We anticipate that this equity facility will help us complete construction on our 123,000 SF facility in Grimsby, Ontario, and launch products using our first-of-its-kind intellectual property. We are now exploring ways to list our company’s shares so that we can take advantage of this equity facility should we choose to do so.”
Province Brands of Canada currently is exploring merger options with publicly listed companies. Following such a merger, the Share Subscription Facility would become available to the combined entity. Funds from the equity facility may be used to complete construction on Province Brands’ production facility and to fund the launch of premium lower-glycemic index, vegan and gluten-free plant-based sugars and beverages using Province Brands’ patent-pending technology for converting cellulosic plant materials such as agricultural byproduct into premium edible and fermentable sugars.
In preparation for expected product launches, Province Brands has submitted its Notice of New Cannabis Product to Health Canada for its “YANDI FRESH” brand of grapefruit-ginger seltzer with THC and submitted its notice to purchase to Ontario Cannabis Stores.
Thomas commented on the company’s recent new product capabilities, saying “we are finally moving past just research and development, and we’ve got samples for you to drink. We’ve got something that’s tangible and not just a patent written down, or scientists telling you what could potentially happen. I’m proud of the fact that we are now at that inflection point.”
Thomas went on to discuss some of the other potential partnerships on the horizon, the company’s interest in going public as well as general trends in the cannabis beverage sector.
According to the recent research report, the demand of global Cannabis in Food and Beverage Market size & share expected to reach to USD 2,818 Million by 2026 from USD 684 Million in 2020, at a compound annual growth rate (CAGR) of 26.6% during the forecast period 2020 to 2026.
To find out more information about Province Brands visit their website here.
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