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Tuesday, December 1, 2020

The Better Mousetrap and Cannabis Wheaton Income Corp (OTCMKTS:CBWTF)

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As we try to gauge the winners and losers in the great race to dominate the cannabis patch in North America, investors forget that the real battle will likely be about innovation within the space from a process standpoint, and companies like Cannabis Wheaton Income Corp (OTCMKTS:CBWTF) are involved in stepping up that game each day. This is one of the most important battles underway for the markets right now, given the rampant growth in the cannabis space, and the potential size of the global market at stake.

In that vein, and relevant to this theme, CBWTF just announced that, further to its previously announced transaction on February 16, 2018, it has, according to the release, “entered into a definitive joint venture agreement with Peter Quiring, one of Canada’s largest greenhouse builders and operators, via a newly formed subsidiary, to develop, construct and operate a fully-automated, state-of-the-art, purpose-built greenhouse for cannabis cultivation in Leamington, Ontario.”

Cannabis Wheaton Income Corp (OTCMKTS:CBWTF) trumpets itself as an investment company that seeks to provide investor returns through streams and capital appreciation in the Canadian cannabis industry.

The company operates as a cannabis streaming company. It provides funding for cannabis facility expansions, operations, and initial construction in exchange for minority equity interests and a portion of the cultivation production.

The company was formerly known as Knightswood Financial Corp. and changed its name to Cannabis Wheaton Income Corp. in May 2017. Cannabis Wheaton Income Corp. was incorporated in 1987 and is based in Vancouver, Canada.

According to company materials, “Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.”

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Hugo Alves, President of Auxly, stated: “The combination of being the largest builder of greenhouses in Canada and the experience of operating 175 acres of greenhouses in Canada and the United States, truly places Peter in a league of his own. As a cornerstone partnership in the Auxly platform, JVco is a unique opportunity to achieve large-scale, low-cost production of cannabis with one of North America’s premier greenhouse operators. Upon completion, this upstream project will be a significant source of product into our midstream value-add and downstream distribution channels. We look forward to building a state-of-the-art facility with Peter and his team and a long and successful business partnership.”

We’ve witnessed 16% tacked on to share pricing for the listing in the past week, a rally that has pushed up against longer standing distributive pressure in the stock. In addition, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 41% above the average volume levels in play in this stock over the longer term.

Peter Quiring, Founder and President of Nature Fresh Farms and South Essex Fabricating, and CEO of JVCo, commented “We could not be more pleased to have reached a definitive agreement on this project. The depth of knowledge, execution capabilities and work ethic possessed by the Auxly team is unique to anything else we have seen in the industry. We are excited to move this project into the execution phase to build out a truly world-class cannabis cultivation project that will benefit both the community of Leamington and the broader Canadian cannabis industry.”

Now commanding a market cap of $557M, CBWTF has a significant war chest ($206.4M) of cash on the books, which stands against about $77M in total liabilities. The company has pulled in about $1.7M in trailing twelve-month liabilities. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $CBWTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CBWTF, either long or short, and we have not been compensated for this article.

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