VIDEO: LiveWell Canada Inc (CVE:LVWL) Public Listing and Strategic Partnership
LiveWell Canada Inc (CVE:LVWL) President David Rendimonti discusses their public listing as well as their build-outs in Ottawa and Quebec. Canopy Rivers is also a major investment partner for LiveWell, which has been advantageous for the company to jump ahead in terms of innovation.
James West: Okay, my next guest here is David Rendimonti. He is the President of LiveWell Canada. Dave, come on in here.
David Rendimonti: James, how are you?
James West: Good, how are you doing? Great to see you again.
David Rendimonti: Thank you.
James West: So, you are now a publicly traded entity.
David Rendimonti: We are.
James West: Excellent! How’s that all going?
David Rendimonti: It’s great. We’re extremely excited to be listed, obviously, on the Venture Exchange. It’s a great new story for our shareholders and a very good news story for our employees, as well.
James West: Yeah, for sure. So how long has LiveWell – like, we covered some of this before, but we’re going to hit it again because we’ve got a lot of people watching who are not quite well-versed on the story. So, tell me again: how is LiveWell different from the average LP?
David Rendimonti: So I think to get LiveWell is to just think about our name: Live Well. So we’re a health and wellbeing company. We’re obviously focused on prescription and consumer health, but there’s a bunch of things that got to come together to get it right, and so we’re developing cannabis facilities both in Ottawa and in Quebec. We’re a late-stage applicant looking for approval, we hope, you know, early Q3 this year, and developing a global innovation centre in Quebec. So, greenhouse operations that build off our greenhouse operations in Ottawa, but also a complete innovation centre. We’ll do processing and formulation and manufacturing/commercialization, as well.
James West: Okay. So really focused on the medical side, or the recreational side more?
David Rendimonti: So I think the way we think about it, there’s an actual cannabis marketplace that exists today. Our future, we’re really thinking about patients and customers in an addressable market – medical needs – and whether those are prescription or consumer health, we look at it all together.
James West: Wow, interesting. So I saw that Canopy Rivers was a major investor in your company; that’s obviously a vote of confidence. How did you attract them?
David Rendimonti: Well, I think that we were looking for an excellent partner. We had some very good conversations in partnership development, and Canopy was looking for a partner that they could look at in terms of investing their insights administratively, and operations. We needed a partner to help us get ahead quickly. If you think about it, just where they’ve grown as an organization, they’re, you know, they’re eighth version of a drying room is our first version of a drying room, and so it’s wonderful to work with them operationally and administratively.
James West: Wow. That’s a good way to think about it, actually. So they’ve had you – you’re benefitting by their experience, I guess.
David Rendimonti: Well, you know, they created an industry, and now we get to innovate in an industry, and so they’ve afforded us that opportunity. It’s a great partnership, and we’re very pleased with it.
James West: Great. So I guess the advent of Bill C45 and recreational cannabis obviously eases the path toward profitability for LiveWell. Exactly what in the regulations, as you understand them, limits you, and also provides opportunity to LiveWell?
David Rendimonti: So I think that understanding the full implications from an adult-use marketplace is still to be explored, you know, and current guidelines and where they’re going. We’re taking a look at bud and oil within the marketplace; it’s how these products will derive over time that I think we don’t have a complete line of sight, although we’re exploring what that could be in terms of growth.
In terms of an opportunity, Canada has set a regulatory pathway that opens up Canada overall, and so it’s a leadership opportunity for us as a company within Canada and within the world to set a footprint.
James West: Okay. And so what’s the background of the team in terms of being, you know, perfectly positioned to be the innovators in this sort of nutraceutical lifestyle food space?
David Rendimonti: Well, we certainly have a multidisciplinary team. My background is pharmaceutical and biopharmaceutical, so we’ve got an insight from the health care perspective.
James West: Great.
David Rendimonti: Running commercial businesses and integrated business units. But very much so, we have insights on chemical engineering, invention around refinery and manufacturing development, human resources growth…so all of our leadership team has led significant organizations and operations, and knows what it takes to create a significant Number One organization.
James West: Fantastic. So the market for your products at this point – where do you see selling most of your products?
David Rendimonti: So I think the landscape is pretty clear right now. I think we’ve got some of the thicker cannabis boards, the provinces if you will, that are a clear customer and opportunity; we’re located in Quebec, and so we see, and we’re located in Ontario, so we see both provincial partnerships as very important.
James West: Yeah.
David Rendimonti: There’s direct medical patients, and so we’ll be focused on that as well, and we’re exploring some of the retail partnerships where they’ll grow, also.
James West: Sure. In many respects, the sort of conventional wisdom has evolved to say that investing in an LP simply, at this point in the game, is sort of arriving too late. Now, so I look at a company like yours and I see an approach to consumer packaged goods and foodstuffs derived from cannabis and I think, okay, this is the next generation of cannabis company and something that might better have the potential to deliver a positive experience to new investors in the space who might have taken a lot of time to finally decide to jump in. what sort of opportunities do you see from this perspective of LiveWell going out into the global marketplace, where there still is a lack of this kind of innovative approach to the market?
David Rendimonti: So we agree with your thoughts. It’s not a finish line that we’re getting to; we’re just getting started in terms of the global marketplace. We see our LiveWell vision as something that we can expand globally. We think of it more as, pardon the expression, but a hub and a spoke, where we can take all of our value and our partnerships and then bring those into areas like Europe and South America and grow organically and through strategic partnership, as well. So I think we certainly are having active conversations and have a clear line of sight of how to expand from Canada and beyond.
James West: Yeah. You bet. So what’s the next big thing that’s going to happen in the next three, six, twelve months going out, that should excite investors?
David Rendimonti: So I think what should get everybody very excited is, we’ve got a strong footprint in Ottawa in terms of setting up our greenhouse facilities, as well as Quebec, and we’re starting –
James West: So you’ll be able to supply the government directly?
David Rendimonti: We’ll definitely be close for everybody for sure.
James West: [laughter] Sure.
David Rendimonti: And we’re excited about kind of getting all the operations up and running, creating a global innovation centre that we can be proud of, our employees can, and certainly get our shareholders very excited.
James West: Wow. That’s great, David. Okay, we’re going to drop it there and we’ll come back to you in another quarter or so and hear how you’ve been making out. David Rendimonti is the President of LiveWell Canada, that trades on the TSX Venture under the symbol LVWL. David, thanks for joining me.
David Rendimonti: James, thank you.
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