A Quick Update on Experion
Earlier this month, I put a buy out on Viridium Pacific (TSX-V: VIR), soon to be called Experion Biotechnologies.
This company has a lot of irons in the fire, so I reached out to CEO Jay Garnett to do a quick Q&A for you.
Check it out …
Jay Garnett: Before we get started, I would like to take this opportunity to thank you for your interest in Experion, and to the Green Chip Stocks members who have invested in Experion, my thanks, I look forward to keeping you apprised as we continue to work diligently to execute Experion’s business and look forward to delivering value in your investment. To those members who have not invested to date, I look forward to having you join the Experion family, too.
Jeff: There are a number of reasons I like Experion, but there are three in particular that I’d like to focus on today, and of course, get your take. The first is: Experion is a sponsor of one of the first Phase II and III clinical research studies for post operative pain reduction and one of the most advanced clinical drug studies in Canada. Can you offer some further details on this?
Jay Garnett: Absolutely. There are other companies we are aware of conducting clinical research with cannabis in various stages, although not many. Some are just starting the process and others have broad unfocused objectives that we feel will be difficult to get across the line.
What makes our clinical trial unique, is the specific focus of the study, our partners conducting the trial and the lead investigator. By putting these together, we have improved our chances of successfully completing the clinical trial greatly. Our partners and lead investigator have conducted over 23 clinical trials, with several being successful, as well as, the lead investigator just won a significant research award for his recent work in clinical research.
Jeff: Experion is currently selling a variety of products, including a full-spectrum micro-dose pill throughout Canada. I know it’s still early, but have you been able to lock in any revenue on this yet?
Jay Garnett: Yes. We started revenue last September 2018 and have quickly grown and diversified our sales. We started with wholesale flower and quickly established a reputation for high quality product and sales service. Our regular customers include Emerald Therapeutics, Tilray, High Point, to name a few. We have now entered into the Adult Use market with several Canadian provincial distributors. Whilst Experion was not the first to market, we were one of the fastest products to sell out with increased re-orders across the board. In addition, Experion is one of a few companies that can encapsulate cannabis oil without leaking and provide a reliable consistent dosed product. We offered a full spectrum medical pill through our partner Broken Coast and Aphria’s medical patient list last month.
Jeff: Can you tell us more about your agreement with INOPHA Pharma to import and export medical cannabis throughout Germany?
Jay Garnett: So our German partner, INOPHA Pharma, is a GMP Pharmaceutical import company with a diverse distribution chain. We entered the Germany Tender for medical cultivation in partnership with INOPHA Pharma to secure a cultivation and distribution license. We feel that successful cannabis companies will have a presence regionally, nationally, and internationally. Germany will be central and important for other European growth and INOPHA has positioned us to take advantage of this opportunity.
Jeff: Yeah, Europe is a sleeping giant, for sure. Is there anything else you’d like to share with our members? Anything that you think they should know?
Jay Garnett: One thing you should be aware of is that only one-third of all licensed producers in Canada hold the range of licenses we do, and only a handful of those are publicly-traded. As new licensed cultivation companies come on to the market, they will be good growers and focused on quality and compliance, but few will have the bench strength and financing to become functioning processors, national distributors and international partners. Our focus is to capitalize on our licenses that include the ability to market our product in medical, retail, and wholesale, regionally, nationally and internationally.
Experion is not just a grower like so many peers either; it is employing a business model that results in multiple revenue streams and growth opportunities.
Look at our clone business and our B2B model, for instance. We have a solid reputation for quality clones and the ability to distribute finished product that allows us to supply and partner with other licensed cultivators entering the market, which gives us an advantage in terms of a B2B model. We have several licensed cultivators growing our genetics with profit sharing buy back agreements. This allows us to increase capacity quickly without significant financial deployment, control our quality and increase our revenue through wholesale or retail channels.
We are also supportive of the smaller micro-growers. This is a thoughtful and strategic business plan design that puts Experion headlong in the “craft cannabis” movement and allows Experion to essentially increase outsource plant growth, increase strain offerings, while having the rights to the cannabis as demand necessitates.
To date, I am proud to say that Experion has supplied in excess of 2,500 clones over the last three months to licensed cultivators throughout BC and Alberta. including 600 clones going to one of the first licensed Micro-Cultivators in Canada.
Finally, I would like to discuss one last point that is germane to our US audience. We are in the process of obtaining an OTCQB listing as well as DTC eligibility. This will increase Experion’s presence with our United States investor base, providing increased liquidity and increased trading capacity.
Jeff: Fantastic. Yeah, I know some of our members have been unable to buy the stock on the TSX-V, so this will be very helpful.
I’ll have more on Experion in the coming weeks. Also, Jay will be joining us in September for our next Green Chip meeting, which will take place in San Francisco. I’ll have the exact dates and times for you shortly.
More to come …
For further information, please visit the Company’s www.viridiumpacific.com or contact
Viridium Pacific Group Ltd.
Judy-Ann Pottinger, Investor Relations
Tel: (604) 617-5290
Join the Viridium portal on 8020 Connect. Join here: http://connects.digital/Viridium8