TGIF is a common, cultural phrase that carries a favourable ideology in pop culture, dating back movies and songs in the 70’s, to networks and references made popular in the 80’s.
On top of being a standard worker phrase accompanied with a substantial exhale and a constant weekly twitter hashtag, this expressive acronym earned itself a two hour time slot on the American television network ABC, and even became the brand likeness of a popular American restaurant chain that boasts of 900+ locations worldwide.
It’s a term synonymous with an escape at the end of the work week, relaxation, celebration, fun, enjoyment and experience.
So what else lies under the shade and influence of this joyous four-letter-week-ender these days?
Well, a new CSE-listed marijuana company has an idea. One that is clever enough to gain a trading symbol that anyone growing up with a television set would recognize.
Friday Night Inc. the first Las Vegas-based Cannabis company to go public on a Canadian exchange, with the ticker symbol $TGIF, had shares hit the market on Friday, June 16th.
The company’s two main assets are based in Las Vegas Nevada, the flashy and 28th most populated city in the US that welcomed 42.9 million visitors in 2016. Visitors who also shelled out $35.5 billion dollars during their Sin City visit. And while it has this many visitors and spenders, the “entertainment capital of the world” is also home to over 2 million residents.
The two core companies, of which Friday Night Inc. owns 91% are strategic and tap into two different sides of the market. The first company, Alternative Medicine Association (AMA), was the second licensed medicinal producer in Nevada, the first in Clark County, with their 12,000 square foot production facility. The second, Infused Manufacturing, is a brand of hemp derived CBD infused topicals tinctures and various cosmetics that do not contain THC, and can thus legally ship to all 50 states, and benefit from online sales and marketing. Unlike many of the “me too” cannabis companies, one can look at TGIF a bit differently – the stark contrast being revenue on the books (standard for companies, but not in this industry, especially in Canada), reported to be north of $200,000 per month, prior to the transaction, capital injection and listing.
But the big thing that makes up a lot of the blue sky decision making is the pending legislation set for July 1st, where it has been voted on to allow recreational sales (21+) in the state of Nevada. With hooks already set in the medicinal supply side, the company stands to benefit from when and if this approval takes place. Now those 2 million residents, $42.9 million visitors and $35 billion in spending becomes a bit more interesting.
With a healthy team on the ground in Nevada running operations, the company is led by Brayden Sutton, who was previously the VP of Supreme Pharmaceuticals during its formative days, and who has also done time with Aurora Cannabis and Invictus MD at the executive level. David Stadnyk, the founder of Supreme Pharmaceuticals is also seen to be on the board of advisors in what looks to be a bit like the A-Team coming back together for their next act.
Looking into the founders and advisors track record, it’s obvious that their team understands the industry, product, public markets, people and branding. As Friday Night Inc. represents a lifestyle brand, it should make for some interesting public exposure. Adding the fact that it’s rooted in fundamentals, revenue generation and pending regulation upheaval – one would have to admit that this team knew what to look for and when to do it.
With Vegas enjoying it’s steady popularity for tourists, mainstream events, the Raiders relocating to Las Vegas, a new hockey team and new government legislation, it’s safe to say that Las Vegas is invested in continuing to build it’s economy, through bringing the people what they want.
If the much discussed concept of investing in what you know and products you use holds true for anyone of the 1 in 8 adults that consume marijuana (CNN/Gallup), then TGIF presents itself as a unique opportunity to those that use, consume and have interest in the products that Friday Night Inc. offers – a way to own a piece of this culture – in a way that just was not possible a few short years ago.
When cultures evolve as they do, what was at one time “taboo” often earns it’s place into the lives and living rooms of the masses. Whether that is prohibition and alcohol, recycling, typing your credit card into an online browser or using medicinal or recreational marijuana – one thing is certain; change is constant. Normalcy is fluid. People push to get what they want, and politicians that aspire to stay in office lobby to offer this so that they can claim benefit of reaping taxation rewards and public favour. The products we use and the way we live our lives is always changing, as any social network or media headline will tell you. And the brands of tomorrow invest in being sure they have products at the ready.
Sometimes they even know it before we do.
So in this new era of #TGIF, it might just be this new American operating Canadian listing that is earning its place in the hands and hashtags of consumers.
#TGIF ——> $TGIF
$TGIF is a client of VP, and our team members are shareholders through purchasing in the open market. This article is NOT intended to be investment advice in any way, shape or form. Always, always do your own due diligence.