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Lennie Ryer and Barry Laxer of Cannara Biotech Inc. are Featured On The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - February 6, 2020) - The Stock Day Podcast welcomed Canna...
About this update from Cannara Biotech, Inc.
[{"type":"text","content":"Lennie Ryer and Barry Laxer of Cannara Biotech Inc. are Featured On The Stock Day PodcastPhoenix, 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 ...