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Buzz on the Bullboards: Cannabis Tops Health Care

Stockhouse Editorial
6 Comments| June 17, 2021

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(Image via HEXO Corp.)

How high can we get? This past week, it has been the question on the minds of traders, when a market roller coaster saw indexes hit record highs while company earnings saw major names soar and fall in equal measure.

Tapping into the largest public market investor hub in Canada, the Stockhouse Bullboards, is a good way to see which companies are resonating with investors and which are falling by the wayside.

Every week we highlight the most-viewed companies by sector and this week we’re looking at the top of the top. While investors might expect health care plays to come in strong, given the big week the sector had, finding metals and mining might be a bigger surprise. in this week’s Buzz we look at some of the companies making noise on the Bullboards. In some cases, the opportunity for investors has been clear-cut, while in others, a lack of information makes for deep-dive discussions into what is available.

HEXO Corp. (TSX: HEXO, Forum) reported its financial results for fiscal Q3 2021 this week and highlighted, among other things, total net sales had increased 2% year over year.

Other highlights:

  • Total non-beverage adult-use net revenues in Canada, excluding Quebec, increased by 169% from Q3 2020, while maintaining the number one position in Quebec
  • Net revenue (excluding beverage) increased 14% in Ontario from Q2 2021
  • Maintained the number one position in the beverage category

HEXO CEO and co-founder Sebastien St-Louis went as far to say that at the advent of legalization, the team articulated a plan to become a top three cannabis player in the Canadian adult-use market.

He added that with the acquisition of Zenabis and the announcements of intent to acquire 48North and Redecan, the company is on the verge of surpassing that objective to become the number one licensed producer by recreational market share.

“While this was a challenging quarter, we maintained our number one position in the beverage category and increased our net sales outside of Quebec by 169% over last year, including 14% sequential quarterly growth in Ontario, while continuing to maintain our number one position as the preferred supplier to Quebec. Moving forward, we are committed to rebuilding our strain strategy and brand mix in the province of Quebec to ensure we meet consumer needs and maintain our dominant position in the province.”

Tilray Inc. (NASDAQ: TLRY, Forum) recently announced the launch of Symbios – a complement to the company’s existing medical brand portfolio in Canada.

The company said this new brand was developed to provide a broader spectrum of formats and unique cannabinoid ratios at a better price point while offering medical patients a full comprehensive assortment of products, including flower, oils, and pre-rolls for their health and wellness regiment.

Tilray’s Chief Executive Officer, Irwin D. Simon commented that medical cannabis innovation and patient care are core to Tilray’s new business and global growth strategy.

“As we look ahead, we remain focused on building momentum across our three medical brands – Symbios, Aphria, and Tilray – while meeting the large and growing demand for new, high-quality cannabis products that promote health, wellness, and wellbeing.”

What the "Buzz"

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Nanotechnology life sciences firm Sona Nanotech Inc. (CSE: SONA, Forum) has developed multiple proprietary methods for the manufacture of various types of gold nanoparticles, but it is discontinuing the clinical trial of its COVID-19 rapid, antigen saliva test after a review of the initial results.

The decision to discontinue the trial is due to inadequate test sensitivity with clinical saliva samples and challenges with patient recruitment and enrollment, as the local prevalence of the virus has been significantly reduced.

The company plans to continue with its other rapid test development programs and research on its proprietary gold nanorod production technology.

Clinical trial principal investigator, Dr. David Jacobs of Humber River Hospital, explained that, as is often the case with prototypes, the early laboratory results did not translate well into the clinical environment.

“While there are many possible reasons for this discrepancy, the favored hypotheses are that either there is insufficient viral concentration in saliva, or there is an interfering substance in the saliva.”

Sona Nanotech’s Chief Executive Officer, David Regan expressed disappointment that the company’s COVID-19 test failed to demonstrate sufficient ability to detect the virus in saliva in clinical samples to warrant further investigation, but he and the team remain grateful to the collaborators at Humber River Hospital and to the volunteers in the trial.

“We are surprised that our clinical trial did not show a corresponding level of sensitivity to our laboratory studies which showed that our saliva test was able to detect gamma irradiated COVID-19 virus at clinically relevant levels. We were attempting to blaze a new and challenging trail in adding a less invasive, saliva-based rapid test to the arsenal of tests being used to detect the virus, something for which no other company has achieved an FDA EUA or Health Canada approval. We look forward to continuing further bold pursuits in new applications that leverage both our proprietary gold nanorod technology and the considerable base of experience afforded to us by our COVID-19 test development program.”

After completing a $5 million (CAD) private placement, Extreme Vehicle Battery Technologies Corp. (CSE: ACDC, Forum) released details on its plan to develop a blockchain-based payment solution for its anticipated EV Smart Charger product line. EV Battery Tech intend to round out its infrastructure offerings by adding a cryptocurrency payment option to its blockchain-based battery and EV maintenance system, dubbed the ACDC Blockchain.

BlackBerry Limited (TSX: BB, Forum) will report results for Q1 of fiscal year 2022 at 5:30 p.m. EST next Thursday, June 24th, 2021. In March 2021, BB reported total company non-GAAP revenue of $215 million (USD), total company GAAP revenue was $210 million (USD) for Q4 fiscal 2021. For the fiscal year 2021 thus far, total company non-GAAP revenue was $919 million (USD), total company GAAP revenue of $893 million (USD). Ahead of this, BlackBerry holds its annual general meeting (virtually), next Wednesday June 23rd, 2021, at 1:00 pm EST.

Fobi AI (TSX-V: FOBI, Forum) has had its OTCQB Exchange trading symbol change from RACMF to FOBIF. A relative newcomer to the Top 6 Buzz, Fobi (formerly Loop Insights Inc.) is a data intelligence company that helps turn data into actionable insights and personalized customer engagement to generate increased profits.

Fobi’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality and tourism industries.

Gains in the tech sector have been a solid contributor to market growth in 2021 on both sides of the border. In this week’s Investor Pulse Poll, we asked you if you were confident there was even more blue sky potential across the indexes … and it seems most of you are optimistic about the future.

This week, we want to know which metal commodity you are the most bullish on this year. Click the image below to cast your vote.

(Click image to vote.)

Silicon solutions company HPQ Silicon Resources Inc. (TSX-V: HPQ, Forum) released an update on recent the GEN3 PUREVAP Quartz Reduction Reactors (QRR ) pilot plant project is transitioning from the assembly phase to the commissioning and testing phases of the program and that the start of the GEN3 PUREVAP QRR will be during Q4 2021.

This is an innovative process (patent pending), which will permit the one step transformation of quartz (SiO2) into high purity silicon at reduced costs, energy input, and carbon footprint that will propagate its considerable renewable energy potential.

These ongoing tests are conducted by the technology provider, PyroGenesis Canada Inc. (TSX-V.PYR, Forum) a high-tech company that designs, develops, manufactures and commercializes plasma - based processes.

New Found Gold Corp. (TSX-V: NFG, Forum) reported further assay results from an additional nine holes drilled at the Keats Zone. These holes were drilled as part of the NFG’s ongoing 200,000 metre diamond drill program at its 100%-owned Queensway Project located on the Trans-Canada Highway 15km west of Gander, Newfoundland.

Two intervals in holes NFGC-21-204 of 21.4 g/t Au over 8.05 metres and 14.9 g/t Au over 12.9 metres in a further 40 metres step-out down plunge demonstrates that the zone of high-grade gold at Keats is continuing and remains open to depth. Eight rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by Q2 2021.
UEX Corp. (TSX:UEX, Forum) signed an agreement with Overseas Uranium Resources Development Co., Ltd. to amend the terms of the purchase agreement to acquire 100% ownership of OURD’s wholly-owned subsidiary, JCU (Canada) Exploration Co. Ltd.

Next week, Buzz on the Bullboards will have you covered for what you missed, and what small-cap companies Stockhouse investors are interested in. For previous editions of Buzz on the Bullboards: click here.

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FULL DISCLOSURE: Extreme Vehicle Battery Technologies Corp., and PyroGenesis Canada Inc. are clients of Stockhouse Publishing.

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