The Cannabis Report J uly 25 , 2023 Note : all currency references in this report are Canadian dollars except where noted otherwise. • I w a n t t o r e v e a l s o m e t h i n g that will be o f g r e a t interest t o o u r s u b s c r i b e r s L a s t w e e k , t h e p o r t f o l i o w a s d o w n - 4 0 % w h i c h w a s a m i d d l e o f t h e r o a d r e s u l t w i t h t h e M a r i j u a n a C a n a d a I n d e x - 2 3 % a n d t h e M a r i j u a n a U n i t e d S t a t e s i n d e x d o w n - 7 7 % B u t a s I w a s w o r k i n g w i t h a d e l a y e d p u b l i c a t i o n d a t e t h i s w e e k , I s a w o n July 25, 2023, the m a r k e t ’ s r e s p o n s e t o Predictmedix Inc. (CSE: PMED) (USOTC: PMEDF) C h i e f E x e c u t i v e O f f i c e r R a h u l K u s w a h ’ s P r e s s Release t h a t I c o v e r i n m o r e d e t a i l b e l o w The r e l e a s e w a s t i t l e d P r e d i c t m e d i x A I E n g a g e s i n P a r t n e r s h i p w i t h I n d i a n S u p p l i e r f o r M a s s P r o d u c- t i o n a n d R a p i t D e p l o y m e n t o f S a f e E n t r y S t a t i o n s I h a v e s a i d p r e v i o u s l y t h a t D r K u s h w a h a l w a y s h a s a m e s s a g e f o r r e a d e r s Dr. Kushwah says “ We are aligning with a supplier that can rapidly deploy thousands of units in a compress ed time frame. ” This means to me that Dr. Kushwah sees some need to have a production capability in the thousands of units in a short period of time. According to my estimates, PMED only needs ar ound 75 units in the field to become cash flow positive. A more reasonable estimate. The next chart shows that a healthy pretax profit is generated with just 75 units in the fiel d. Even so, this amounts to pretax earnings of around $0.02 per share. Given the growth potential a multiple on these earnings would put the stock in excess of $1.00 per share in my opinion. I we look at 1,000 units in the field, m y estimate is $36 million or $0.24 per share of pretax earnings compared to today ’ s stock price of $ 0.12 per share. The stock at the time could easily trade at 20 times earnings or $4.80 p er share. Dr. Kushwah refers to “ thousands of units ” so let ’ s look at that in the table to the right. Assuming 2,000 units installed, w e a re talking about $72 million that trans- lates into $ 0. 48 p e r s h a r e of pretax income At 20 times earnings , this equates to $9. 60 per share compared to the current market of $0.12 per share. Th is is hinting at generation wealth creation for current buyers. While these indications of future value seem extraordinary, they are well within the realm of possible for t he following reasons: (a) T he installation of 2,000 units implies less than a 2.9% penetration of the 69,000 hospitals in India. That is not an unattainable market shar e when y ou consider PMED AI is also targeting Indonesia and the Association of S outhea st Asian Nations ( ASEAN countr ies ) Assumed Units in field 1,000 ≈ Annual Revenue 48,000,000 $ ≈ Pretax Profit 36,000,000 $ Assumed Units in field 2,000 ≈ Annual Revenue 96,000,000 $ ≈ Pretax Profit 72,000,000 $ (b) In last week ’ s earnings call, Elon Musk said, “ There ’ s just no substitute for a massive amount of data. ” I have pointed out in the past that data is a significant asset hidden on PMED A I ’ s b a l a n c e s heet. If PMED AI leads the way into the field, they will have a lead in data accumulation that will be hard to surpass. (c) Led by Dr. Rahul Kushwah, PMED AI has the team to get the job done. They have led the way so fa r and all the indications say they are gearing up to extend that advantage into commercialization Conclus ion: As we have seen, Predictmedix Inc. (CSE: PMED) (USOTC: PMEDF) offers th e potential for generational wea lth creation. Buy a few thousand dollars worth for your grandchil- dren and they may never face a serious financial chal- len ge in their lives. The basis for that rare outcome with PM ED AI are easily within the realm of possibility. The market penetration in India and, indeed , Indone- sia and the ASEAN group of countries is rea sonable. Their g rowing data base is an effective business moat for PMED AI. Finally, under the leadership of Dr. Ra- hul Kushwah, they have t he team to make it happen. Predictmedix Inc. (CSE: PMED) (USOTC: PMEDF) is going to break out soon. Dr. Kushwah is lay ing out a series of Press Releases that are showing the way. The w ay to avoid being someone who says “ How could I have missed that? ” Buy it now. • This is an excellent time to report on the latest gem Dr. Rahul Kushwah has dropped. Predictmedix AI (CSE: PMED) (USOTC: PMEDF) (FRA: 3QP) announced it will leverage the power of advanced A rtificial Intelligence algorithms and state of the art technology to enhance the efficien cy, ac- cura cy and sa fety of hea lt hcare practices in India. ➢ PMED references a report on the National Strategy for Artificial Intelligence by the NITI Aayog that s how s a shortage of qualified healthcare professionals and non - uniform accessibility to healthcare across the country prevails. India has only 64 doctors available per 100,000 people compared to the global average of 150. This significan t disparity highlights the urgent need for innovative solutions to bridge the healthcare gap and improve healthcare outcomes for the Indian population. I will add that the shorta ge of doctors is particula rly serious in rural areas. ➢ Not only that India has a very high rate of population growth. It is eight t imes higher than the U.S. or China. The demographic factor driving population g rowth is the age of India ’s population. Nearly half of Indians are below the a ge of 25. Demographers estimate India ’s population will continue to grow for over forty years and is on the verge of surpassing China in population this year. ➢ If yo u have a significant shortage of doctors and your population is probably now the largest o f any country in the world and your population is going to grow for another four decades, filling the doctor shortfall by training n ew doctors will be a mission impossible One solution that will immediately relieve the pressure and might eventually solve it is to increase t he productivity of your existing population of d o ctors. ➢ Quoting from the Press Release, “ With the growing demand for innovative healthcare solutions, P MED is at the forefront of develo ping advanced AI - powered tools designed to transform the way medical professionals provide care. By eliminating the need for physical contact, these cutting - edge solutions address the challenges and contribute to the overall improvement of healthcare deliv ery. ➢ Predictmedix's contactless integrative AI solutions combine computer vision, thermal imaging, and predictive analytics to enable seamless and efficient healthcare interactions. These solutions offer a range of capabilities, including contactless tempe rature screening, symptom analysis, mental health assessments, and substance abuse detection, among others. By employing sophisticated algorithms, Predictmedix ensures accurate and reliable results, empowering healthcare providers with valuable insights to make informed decisions. ” ➢ "We are thrilled to introduce our contactless integrative AI solutions to the Indian healthcare land- scape," said Dr. Rahul Kushwah, Chief Operating Officer of Predictmedix. "Our technology represents a significant leap forward in medical diagnostics and screening. By minimizing physical contact, we are prioritizing patient safety while maximizing the efficiency and effectiveness of healthcare practices." ➢ “ Aligned with the vision of the Atmanirbhar Bharat Digital Mission (ABDM), Pred ictmedix's contactless integrative AI solutions exemplify India's commitment to harnessing cutting - edge technology to ad- dress critical healthcare challenges. ABDM, initiated by the Government of India, seeks to empower citizens with digital services and so lutions while fostering self - reliance in the digital domain. ” ➢ Part of P MED AI ’s plan includes incorporating a fully owned Indi an subsidi ar y that has received ap- proval to be called “Predictmedix India Pvt Ltd. ” ➢ Conclusion: first, this news tells me that Predictmedix AI (CSE: PMED) (USOTC: PMEDF) (FRA: 3QP) has a very solid relationship with the Indi an govern ment and officials. They ha ve apparently designed their business plan to suit the Government poli- cies for the near - term future. Second, it makes i t clearer that India will play a significant role in the early commer cializ a- tion of the S a fe Entry Systems. If we remember that India has a total of 69,000 private and p ublic hospitals it makes it clear that my estimates of 30 installed stations will produce ca sh flow breakeven and 75 installed stat ions provides an excellent pre - tax income are readily attainable. If we re- member that Dr. Rahul Kushwah , Chief Operating Officer , has a habit of releas ing information slowly over time and it often doesn ’t take long for one message to be r ealized, I think this is an exciting press release. I expect some sales development in India and I wo uld be a buyer at th ese levels. • I spoke to Alvaro Torres, Chief Executive Officer of Khiron Life Sciences (TSXV: KHRN) ( USOTCQX KHRNF) (Frankfurt: A2JM ZC) for a quick update. Everyone is working under conditions of a severe shortage of working capital. So they continue to work hard on both fronts: co mpleting the audit and closing the sale of European assets. I will continue to keep communication open and report back here. • Lexaria (NASDAQ: LEXX) is grant ed a s trategically Important n ew U S Patent For Dehy- draTECH - Nicotine i ncluding Oral Pouch p roducts But first, here is the patent LEXX has been issued by the U.S. Patent Office (USPTO) “ patent #11,700,875 Compositions and Methods For Sub- lingual Delivery o f Nicotine includes claims for many types of nicotine, including nicotine benzoate, nicotine ditartrate, nicotine citrate, nicotine polacrilex, and many others, for use in sublingual [ literally “under the tongue ” – Ted] delivery formats like oral pouches. Lexaria’s superior DehydraTECH pro- ces sing and sublingual compositions have now been recognized not only through exceptional scientific study results, but also by the USPTO. DehydraTECH - nicotine has already shown in multiple sets of animal testing that it can be delivered in to the bloodstream up to 10 - times to 20 - times faster at up to 10 - fold higher levels of nicotine to the blood plasa from oral absorption than concentration matched controls. Speed of onset is of vital importance to nicotine users. ” This US - awarded patent is progressing as a patent application through other jurisdictions internation- ally. This US patent award and the international patent applications are supported in part by the supe- rior pharmacokinetic blood plasma data generated in its animal studies conducted from 2017 through 2021. LEXX considers the work completed by competitors to be well short of LEXX ’s standards when it is limited to indirect theoretical extra polations of nicotine absorption into the bloodstream and/or subjective commentary from small numbers of people, as opposed to L EXX ’s rigorous scientific ex- aminations and drug t rials “ LEXX ’s new patent builds nicely upon its growing patent portfolio in the oral nicotine delivery sector including the white pouch category for both sublingual and buccal tissue [the lining of the cheeks and the back of the lips where they touch the teeth] d elivery, together with its previ ous patent filings specific to nicotine dating back to 2019, as well as its foundational DehydraTECH patent filings dating back to 2016. The oral nicotine pouch category is of intense interest to L EXX and the nicotine products industry, and its growth i s due in part to its reduced risk health outcomes as noted by the Food and Drug Admin- istration. This delivery method, in the white pouch format specifically, which avoi ds harmful lung out- comes experienced by smokers or vapers, involves absorption primarily through the buccal and sub- lingual tissues of the mouth, of purified nicotine that has been separated from most other harmful compounds in the tobacco leaf. The global market for the oral nicotine pouch category was US$4.69 billion in 2022 and is growing at a rapid CAGR of 13.4% and is expected to reach $11.91 billion in 2029. ” C onclusion: This most recent U.S. issued patent aligns DehydraTECH - nicotine with the most desir- able product verticals in the tobacco industry , namely, smokeless nicotine delivere d orally sublingually or buccally. There are still seven million people that die each year from smoking. The so - called “White Pouch ” is one of the fasted growing , tobacco free alternat ives as the y e mit no smoke, odors or vapo r. At the same time, regulators are directing consumers in this direction At least 37 countries have banned the selling of e - cigarettes , the devices us ed in vaping . These bans cover an estimated 3 0% of world population. At the same time, nicotine vaping ha s become cont rov ersial and either banned or restricted in several other countries. Australia recently banned it. But there is one prominent reason I am a buyer of Lexaria (NASDAQ: LEXX) right here, right now. LEXX is trading at a ma rket ca p of U.S. $7 million and I expect them to file an Investigational New Drug (IND) application for hypertension with the U.S. Food & Drug Administration (FDA) w ithin six weeks I do not anticipate any complications with the appli- cation because the entire procedure was discussed face - to - face with LEXX representatives and the FDA in a meeting almost six months ago. I f that is the case, th ere are two explosive s tock market days ahead. On e will be in August when the IND applicat ion is made and one will be in thirty days in September when the FDA does not find any human health risks to the product. Of the two, I expect the August market response to be strong and the September date to be strong er. When the dust settles, I believe we will have seen a high on LEXX some ten times the current price and see the stock settle in the three to five times area. These are not estimates. It is based on the experience of Kala Pharmaceut ical s LEXX: KALA) , a comp any of sim- ilar size as LEXX in November and December of last year. From pre - IND approval, KALA traded up 9.8X and settled at 3.8X. So my expectation is for explosive upside on Lexaria (NASDAQ: LEXX) over the next two months. • I thought this would be an appropriate time to look at the l egal cannabis sales numbers in Canada Statistics Canada recently reported retail cannabis sales in M ay 2023 were $314.7 million , an increase of +1.2% over April whic h was adjusted downward from the initial report. Adjusted for one additional selling day in May compared to April, sales in the most re cent month declined approximately - 2 .1%. Looking at the larger regions, Ontario was up the most in dollar terms followed by Quebec and Alberta . British Columbia had a bad month with a decline of - 5.4%. As the trendline shows, the past few months hav e been below trend but not as bad as some of the recent earnings reports would suggest. These charts cover the full official (legal) his tory of the cannabis industry in Canada. The next chart shows the year - over - year growth in retail cannabis sales. This chart shows a nnual sales starting at very high levels and declining to the start of 2022 , after which it levels off. This is the pattern y ou would expect. The y - o - y growth for a new industry is expected to start at unsustainably high levels and gradually decline to sustainable rates of gr owth. The past couple of months have been a little on the low side but nothing to really worry about. The next chart shows cannabis sales as a percentage of total retail sales in Canada. The chart sho ws cannabis sales started at a rela- tively low level of total retail sales at under 0.1% and have steadily grow n to the range of 0.6% to 0.7&%. A gain, there is nothing unusual about the pattern of growth in cannabis sales in Can- a da. If the graphs show one thing in particular, it is that cannabis has become a lar ge, n ew industry in Canada and has created new jobs and governments at all levels are generating more tax revenue as a result. For example, in a report published Februa ry 1, 2022 , Deloitte Canada and the Ont ar io Cannabis Store estimate that since legalization in October 2018, over 150,000 new jo bs have been created. The same report estima tes cannabis has contributed $43.5 billion to Can- ada ’s Gross Domestic Product. This estimate includes all economic activity including such as con- struction. Tax revenues are esti mated to be a still significant $1.5 billion. The report concludes that the cannabis sector is “ ... already an important source of economic growth. ” The illegal cannabis ma rket, also known as the “black market ” or the “underground economy, ” is a significant supplier of cannabis to Canadians. It is estimated that somewhere between 40% to 50% of Canadians obtain some or part of their cannabis from illegal sources. The legal distributors I have talked to believe illegal cannabis sales have a substantial negative impact on their business. Illegal operators have a major cost advantage because they do not have to comply with the r ules and regulations designed to pro tect the Canadian cannabis consu me r. In additi on , illegal operators do not pay any taxes. It is estimated that legal cannabis must sell at prices 100% to 150% m ore than black market product. In addition, law enforcement has made little effort to shut down illegal operators and sometimes the penalties are so light that if an illegal operator is shut down, they simpl y open again at a different location. Conclusion: the Canadian cannabis industry has been running be low trend for approximately six mont hs but not enough to explain the decline in revenue and gross profit being reported by the large lice nsed producers. Certainly, the mini - cultivators that represent about one - third have been cutting into the business of the large producers but I t hink it is illegal product ion and sales that is the most important fact or holding back the licit industry. It is up to the courts and the politicians to render harsher penalties to discourage those in the illegal sales and distrib ution chain. LTB MARIJUANA INDEX: 1wk - 2.6 % 1 mo - 4 .7 % 3 m o - 17.6 % 6 mo - 2 9.8 % 1 yr - 51.5 % The Dow Jones Industrials have broken out to the upside based on last week ’s close. The Dow has been lagging the Standard & Poo r ’s 500 and the NASDAQ Composite that were led higher , earlier by their te chnol- ogy components that I have talked about recently. Friday was a re- markable day with the Dow posting a frac- tional gain as the tech heavy NASDAQ lost - 2.1%. But there may be something else going on. Recently , I alterted you to the fact that the NASDAQ 100 Index announced a “special rebalanc- ing ” on July 24 th which is Monday. Here ’s a little backg round . The NASDAQ Composite Index has a large technology comp on ent for su re. But it is made up of over 2,500 NASDAQ listed stocks many of which have nothing to do with high tech. The NASDAQ 100, on the other ha nd, is made up o f the 100 largest national and international companies. So wh i le the NASDAQ Composite has fin ancial stocks in it, the NASDAQ 100 has none. This difference is not just theoretical. It does show up in the way the two indexes perform. The NASDAQ Composite h as topped almost all of the other indexes out there by posting a first half gain of +34%. But the Composite didn ’t outpace the NASDAQ 100 with its concentration in the Magnific ent Seven, that was up +41% recently. The NASDAQ makes the Standard & P oor ’s 500 look like an “ also - ran ” with it s recent gain of +18% which would otherwise be a tremendous result With the strong rally we have seen in the tech sector, it is the S&P 7 or the Magnificent Seven : Alpha- bet, A mazon, Apple, Meta, Microsoft, Nvidia and Tesla , that have led the Art ificial Intelligence charge. Recently, these seven companies represented over half the value of the NASDAQ 100 index. So it was announced that the NASDAQ 100 is going to be “ rebalanced ” This means for purposes of the NASDAQ 100 calculation, the impact of the se seven stocks will be reduced and the weighting of the other 93 companies will be increased. This is a theoretic al change. There are no stocks that are bought or sold by the index to make this change. The comput er programmers perform their magic and on the opening of July 24, 2023, the NASDAQ 100 Index will begin to report changes with the Magnificent Seven having a much smaller impact and the not so wonderful “ Other 93 ” having a much larger impact. But there is another factor to consider. There are many dollars held in passively , as opposed to actively, managed port folios. These passive ly invested portfolios invest to replicate the results of various in- dexes either by holding options on an index or some even hold the s am e stocks in the same weightings as the index . Some of these passive portfolios will have some of their money replicat ing the NASDAQ 100 Index. These are actual portfolio with real money in them. S o when the NASDAQ 10 0 reduces its exposure to the M agnificent Seven , these passively managed portfolio will actually sell these shares in the process of replicating index performance. In other words, when the in dex rebalances, th ese portfolios will rebalanc e. This will result in some selling of Alphabet, A mazon, Apple, Meta, Microsoft, Nvidia and Tesla . Some portfolios may act early so they won ’ t be selling when everyone else is selling . That may be what we saw last week as the chart below shows. Others will sell after the initial impact of the rebalanc ing and that is yet to come. But it will happen. The chart below lef t probably reflects this rebalancing to some extent as it is the complete reversal of what we have seen in the markets in 2023. As we can see, it was the Dow that led the par ade last week with the Standard & Poor ’s 500 and NASDAQ In- dexes lagging. We may see some ch urning on Monday as re- balanc ing generates some selling of the S&P 7 followed by some buying as there is still plenty of momentum behind Artificial Intelligence. In the meantime, it might be a n opportune moment to pick up a holding in Predic tmedix (CS X: PMED) (USOTC: PMEDF) (FRA: 3QP) that was w eak on Friday a nd Lexaria Bioscience (NASDAQ: LEXX) that had a positive wee k The Canadian cannabis stocks continue to decline as a - 7.7% drop in the U.S. side slopped o ver into Can- ada. Las t week a promising rally was cut short with a - 2. 3% in the Mari j uana Canada Index and a - 2.6% decline in the L et’s Toke Business Marijuana Composite . Below, I take a look at cannabis sales in the Canadian market. After the reports from Canopy Growth and Organigram were greeted with sharp declines in their s hare prices, I thought it was time to go back to the fund a mentals. I found something quite int er e sting that you can read below. I guess if cannabis investors have learned one lesson through all of the ups and m ore recently, the downs in the cannabis markets, it is trusting politicians. After getting investors stoked up on the idea that SAF E Banking might get to a vote befor e the summer brea k, last week Senate Ban king Commit- tee C ha irman Sherrod Brown (D - OH) reportedly told Don Murphy of the Marijuana Leadership Camp aign that that his committee will no t be voting on SAFE B anking legislation ahead of the summer break that beg ins on July 31 st When asked by M urphy if there would be anything happening with SAFE Banking with one week to go before the summer break, Murphy Tw eeted Brown ’s res ponse, “ Not next week. ” Since the sena te shuts down on after July 31 st and won ’t convene for normal business until September 5 th , this was a disappointing response that reflected in U.S. cannabis stocks. I smell a rat and i t ’s the same one tha t has been behind the delays created in the U.S. senate since the Democrats came to power. The rat is Senate Majority Leader Charl es Schumer who added can- nabis legislation to his list of priorities before the summer break while acknowledging it would be chal- lenging. Are we going to see Schumer, Booker and Wyden bring back the Cannabis Administration and O p portunity Act (CAOA) after Labor Day? If they do, it will at least confirm my s uspicions. The chart below left reflects the changes to stock prices given the news I have reported above. The cannabis returns are lower overall year - to - date and the Marijua na U .S. Index has fall en behind the MJ Canada index. The chart to the right shows a broader array of sector retu r ns. The only change is the rally in the Dow Jones In- dustrials moved past the Toronto Stock Exchange . I recommend you remain focussed on the Artificial Intelligence (AI) and my picks – Predictmedix (CSE: PMED) (USOTC: PMEDF) (FRA: 3QP) that is a direct play in the us e of A rtificial Intelligence space and Lexaria Bioscience (NASDAQ: LEXX) tha t is ideally positioned to benefit from the impact of AI on their activities such as setting up lab tests and the expected benefits the FDA will realize in approving new drugs. I believe we are still in th e early days of the AI rally. The Internet market lasted over a decade and for several years after Federal Reserve Board Chairman Alan Greenspan ’s warning of “irrational exuberance ” which came about five years before the In ternet c ycle ended. Conclusion: Predictmedix (CSE: PMED) (USOTC: PMEDF) (FRA: 3QP) especially after their press release this year which I cover below. with Artificial Intellige nce that I report ed on last week. Thi s is the kind of t echnology investors should have exposure to this sector because it is likely to change our lives mor e than the Internet did. Lexaria Bioscience (NASDAQ: LEXX) is now within a few weeks of filing their application for an Investigation al New Drug (IND) application with the FDA . I expect the applica- tion to give the stock price a significant boost and assuming the FDA responds favourably with a se c- ond more explosive response a month later I expect strong performance from LEXX in the Septem- ber / October period. a sharp bounce back in LEXX. As I repo rted last week, I con tinue to touch base with Alvaro Torres, CEO of Kh iron Life Sciences ( TSXV: KHRN) (OTCQX: KHRNF) ( F rankfurt: A2JMZC) See comment below. Organigram Holdings (NASDAQ: OGI) (TSX: O GI) gave back the previous week ’s gains triggered by wea kness in the overall cannabis secto r. 1933 Industries (CSX: TGIF) (USOTC: TGIFF) continues to look like a success attracting top level people This has all the trappings of a winner. If you own it, keep it. If you don ’t own it, buy it. I am still trying to connect with Kiaro Holdings Corp. (TSX: KO) without success. I can be a bulldog. I will keep trying The Model Portfolio: I a m m o s t o p t i m i s t i c a b o u t t h e p o r t f o l i o o v e r t h e n e x t s i x m o n t h s I n o t h e r w o r d s , o w n i n g t h i s g r o u p o f s t o c k s s h o u l d p r o v i d e y o u w i t h a s u r p r i s i n g C h r i s t m a s p r e- s e n t T h e m a j o r c o n t r i b u t o r s t o m o p t i m i s m a r e t w o o f o u r l a r g e r h o l d i n g s Lexaria Bioscience (NASDAQ: LEXX ) (NASDAQ : LEXXW) i s o n e W i t h i n t h e n e x t s i x w e e k s , t h e c o m p a n y s h o u l d s u b m i t i t s I n v e s t i g a t i o n a l N e w D r u g application t h a t s h o u l d g i v e t h e s t o c k s o m e m o m e n t u m h i g h e r a n d a p p r o v a l f r o m t h e F o o d & D r u g A d m i n i s t r a t i o n w i t h i n t h i r t y d a y s a f t e r t h a t c a n b e e x p e c t e d t o p r o d u c e a n e x p l o s i v e r e s u l t i n t h e m a r k e t The other is P r e dictmedix AI Inc. (CSE: PMED) (USOTC: PMEDF) which is part of the Artificial Intelligence boom and my forecasts suggest has the p otential for generational wealth creation without making outrageous assumptions. The largest holding in the portfolio was Khiron Life Sciences (TSXV: KHRN) (OTCQX: KHRNF) (TSXV: K HRN - WT.V) (Frankfurt: A2JMZC) although if we reflected the gains made this week, Pre- dictmedix AI Inc. (CSE: PMED) (USOTC: PMEDF) would have filled th e top spot. 1933 Industries (CSE: TGIF) (OTCQX: TGIFF) was the second large st holding at 18.0%. The smallest positions re- mained Kiaro Holdings Corp. (TSXV: KO) at 0.8% and Speakeasy Cannabis Club (CSE: EASY) in the next spot at 1.4% The leading performers last week were Lexaria Bioscience (NASDAQ: LEXX ) (NASDAQ : LEXXW) that was up +4.6% followed by 1933 Industries (CSE: TGIF) (OTCQX: TGIFF) and Kiaro Holdings Corp. (TSXV: KO) that w ere unchanged in a generally lower cannabis market. O n the downside were Organigram H oldings (NASDAQ: OGI) (TSX: OGI) that lost - 28.1 % and Pre- dictmedix AI Inc. (CSE: PMED) (USOTC: PMEDF) that was down - 10 .4%. Of course, as I have said, PMED AI has made that back and more so far this week. Jushi Holdings Inc. (CSE: JUSH) (OTCQX JUSHF) holdings has also dr i fted and finished down - 9.4% The cash position was $1,5 90 or 1 9.0 % of the portfolio. Here is a summary of the portfolio: Here is a brief rundown on the holdings in the portfolio: Co mpany Sto ck Symbo l # Shares Co st M arket P o rtfo lio P o rtfo lio $ US@ A llo catio n % Chg since 7/1 4/2023 7/21 /2023 $ CA N 1 .31 51 $ CA N/$ US Last repo rt 1 933 Industries CSE: TGIF 75,000 0.26 $ 0.02 $ 1 ,500 $ 1 ,1 41 $ 1 8.0% 0.0% Organigram Ho ldings TSX: o gi 250 6.24 $ 1 .79 $ 448 $ 340 $ 5.4% -28.1 % P redictmedix CSE: P M ED 1 5,000 0.1 1 0.09 1 ,350 $ 1 ,027 $ 1 6.2% -1 0.0% Khiro n Life Sci TSXV: KHRN 44,550 0.1 6 $ 0.04 $ 1 ,782 $ 1 ,355 $ 21 .3% 0.0% Jushi Ho ldings CSE: JUSH 1 ,000 - $ 0.58 $ 580 $ 441 $ 6.9% -9.4% Lexaria B io CSE: LXXW 800 3.69 $ 1 .1 4 $ 91 2 $ 693 $ 1 0.9% 4.6% Kiaro Ho ldings TSXV: KO 7,000 0.1 4 $ 0.01 $ 70 $ 53 $ 0.8% 0.0% Speakeasy CSE EA Sy 1 2,000 0.42 $ 0.01 $ 1 20 $ 91 $ 1 .4% 0.0% Cash 1 ,590 $ 1 ,209 $ 1 9.0% 8,351 $ 6,350 $ 1 00.0% -4.0% Since Last Repo rt Since Inceptio n P o rtfo lio 8,351 $ - 2 .6 % - 9 1.6 % LTB M arijuana Co mpo site 73.94 - 2 .6 % - 9 1.8 % M J No rth A merican 22.35 - 1.0 % - 9 4 .6 % M J United States 1 7.23 - 7 .7 % - 8 1.8 % M J Canada 36.64 - 2 .3 % - 9 7 .8 % S&P /TSX Co mpo site 20,547.51 3 .6 % 2 5 .8 % Do w Jo nes Industrials 35,227.69 4 .4 % 3 9 .2 % 1933 Industries (CSE: TGIF) (OTCQX: TGIFF) : 1933 Industries is a Nevada - based, growth - orientated compan y, focusing on the cultivation and manufacturing of a large portfolio of canna- bis consumer - packaged goods in a variety of formats for both the wholesale and retail markets. Its product offerings include: THC flower, pre - rolls, and extracted products un- der the AMA and Level X brands for the Nevada market; Canna Hemp ™ , national cannabidiol (CBD) brand of in- fused wellness products including CBD tinctures, gum- mies, topicals and sport recovery products. The Company owns 91% of Alternative Medicine Association, L C (AMA), 100% of Infused MFG LLC (Infused), and subject to the closing of the proposed transaction, 100% of Day One Beverages Inc. www.1933industries.com AMA is a licensed medical and adult - use cannabis cultivation and extraction subsidiary that produces its own branded line of unique cannabis products. AMA's extensive menu of cannabis products include: craft cannabis flo wer, pre - rolls, full spectrum oils, high quality distillates, proprietary blends of terpenes, vaporizer prod- ucts and boutique concentrates such as shatter, crumble, batter, sugar wax, diamonds, and live resin. Ultra - craft brand Level X is an exclusive coll ection of exotic strains, selected specifically for their distinctive terpene profiles, high THC levels, and flavonoids. With state - of - the - art culti- vation and extraction facilities based in Las Vegas, Nevada, AMA seeks to offer medical patients and recreat ional users alike a cannabis experience that's exceptional, potent, and consistent in quality. AMA is also licensed in Nevada as an adult - use cannabis distributor. SOURCE 1933 Industries Inc. Jushi Holdings Inc. (CSE: JUSH) (OTCMKTS: JUSHF) is a vertically integrated cannabis com- pany led by an industry leading management team. In the United States, Jushi is focused on building a multi - state portfolio of branded cannabis - derived assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high quality products across all levels of the cannabis ecosystem. For more information, please visit https://www.jushico.com/ , https://twitter.com/wearejushi and https://linkedin.com/com- pany/jushi - inc SOURCE: Jushi Holdings Inc. Khiron Life Sciences (TSXV: KHRN) (OTCQB: KHRNF) (TSXV: KHRN - WT.V) Khiron is a lead- ing vertically integrated medical cannabis company with core operations in Latin Amer- ica and Europe. Leveraging wholly - owned medical health centres and proprietary tele- medicine plat- forms, Khiron combines a pa- tient - oriented approach, physician educati on programs, scientific expertise, product innovation, and agricultural infrastructure to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany, UK, and Brazil and is posi- tioned to commen ce sales in Mexico in 2021. The Company is led by Co - founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors. SOURCE: Khiron Life Sciences. Kiaro Holdings Corp. (TSXV: KO) Based in Vancouver, British Columbia, Kiaro is an independ- ent, omni - channel cannabis retailer and distributor. Through existing storefronts across British C olum- bia, Saskatchewan, Ontario and assuming completion of the recent acquisition of Hemisphere Cannabis from Aegis Brands, Kiaro will have 18 stores in operation by the end of the fiscal year. This is in addition to a whole- sale distribution division servic ing Saskatchewan, ecommerce sites in Canada, the US and Australia, as well as plans for continued national expansion. Kiaro is driven to introduce new and experienced consumers to a lifelong exploration of cannabis. With more than 70 years of collective re tail and wholesale focused experience, Kiaro's leadership team has a proven track record of growing brands across North America and plans to open multiple retail locations nationwide over the coming years. SOURCE: Kiaro Holdings. Lexaria Bioscience (CSE: LXX) (NASDAQ: LEXX) (NASDAQ: LEXXW) : has a patented drug delivery technol- ogy, Dehy- draTECH ™ that improves the way active pharma- ceutical ingredi- ents (APIs) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demon- strated the ability to increase bio - absorption with cannabinoids and nicotine by 5 - 10x and, in some instances with cannabinoids by as much as 27x compared to standard industry formula- tion s, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is also being evaluated for orally administered anti - viral drugs, non - steroidal anti - inflammatory drugs (NSAIDs), and more. DehydraTECH has also evidenced an ability to deli ver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in - house research labora- tory and holds a robust intellectual property portfolio with 21 patents granted and over 50 patents pending worldwide. For more information, visit www.lexariabioscience.com SOURCE: Lexaria Bioscience Organigram Holdings (NASDAQ: OGI) (TSX: OGI) is the parent company of Organigram Inc. and L aurentian Organic Inc., licensed producers of cannabis and cannabis - derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis - in- fused soft chews and candy in Canada. Founded in 2013, Organigram first bega n as a medical cannabis provider. Today, the Company is focused on producing high - quality, indoor - grown cannabis for patients and adult recreational consumers in Canada, as well as developing international business partnerships to extend the Company’s glob al footprint. Organigram has also developed a portfolio of adult - use recreational cannabis brands including Edison, Big Bag o’ Buds, SHRED, Monjour, Holy Mountain and Trailblazer. Quebec’s top - selling hash brand Tremblant Cannabis, and artisanal craft brand, Laurentian are re- cent additions to Organigram’s existing brand portfolio. Organigram operates facilities in three provinces across the country. Its primary indoor growing facility is in Moncton, New Brunswick, its premium hash production and craft c ultivation facility is in Lac - Supérieur, Quebec and it has a highly automated facility dedicated to edibles manufacturing in Winnipeg, Manitoba. The Company is regulated by Health Canada under the Cannabis Act (Can- ada) and the Cannabis Regulations (Canada) Organigram is focused on translating operational excellence into strong financial results and return on investment for shareholders. For more information, visit www.organigram.ca SOURCE: Organigram Holdings Predictmedix Inc. (CSE: PMED) (USOTC: PMEDF) is an emerging provider of rapid health screening and remote patient care solutions globally. The Company's Safe Entry Stations - powered by a proprietary artificial intelligence (AI) - use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID - 19, impairment by drugs or alcohol, fatigue or various mental illnesses. Predict- medix's proprietary remote patient care platform em- powers medical professionals with a suite of A I - powered tools to improve patient health out- comes. For more information, visit www.Predictmedix.com SOURCE: Predictmedix Inc. Speakeasy Cannabis Club (CSE: EASY) holds a cultivation, processing and sales licence is- sued by Health Canada under the Cannabis Act. Speakeasy owns 290 acres of land in Rock Creek, British Columbia , and leverages five generations of farming experience in B.C. as well as its favorable location to grow and process high - quality cannabis products at low cost. SpeakEasy was a great story until the Geen family proved completely incompetent as managers of such an enterprise. EASY has gone form not being able to submit their audited financials on time to not being able to pay their auditors to being forced to seek protection under the Companies’ Creditors Arrangement Act. I have almost zero confidence the co mpany can be rescued or turned around under the management of the Geens. SOURCE: Speakeasy Cannabis Club with editorial comments provided by Ted Ohashi