The Cannabis Catch-Up is a convenient and easy to read daily summary of the top cannabis stock news.
We’ve scanned the newsfeeds of all the important marijuana stocks and put together this recap to save you the time and hassle.
Top News Stories for Monday, September 9, 2019:
Aurora Cannabis Closes Expanded $360 Million Credit Facility
Aurora Cannabis (TSX: ACB) (NYSE: ACB) is pleased to announce that it has closed its previously announced amended and upsized credit facilities with a syndicate of lenders led by the Bank of Montreal (BMO).
The facilities consist of an additional C$160 million in term loans, as well as an accordion feature that enables Aurora to upsize the facility by approximately C$40 million, in addition to the original C$200 million in credit facilities all of which mature in 2021.
Tilray (NASDAQ: TLRY) today announced that it has signed a definitive merger agreement with its largest stockholder Privateer Holdings for a transaction that will extend the lock-up on and provide for the issuance of up to 75 million Tilray shares to Privateer’s equity holders (and the cancellation of the 75 million shares currently owned by Privateer).
- 77 Percent of Tilray’s Total Shares Outstanding to be Released Over Extended Two-Year Lock-up
- Transaction to be Non-Dilutive for Tilray and Expected to be Tax-Efficient for Privateer Stockholders
Organigram Holdings (TSX: OGI) (NASDAQ: OGI) is pleased to announce that effective September 6, 2019, it has received Health Canada’s approval for the licensing of 17 additional cultivation rooms under the Cannabis Regulations.
The new cultivation rooms represent approximately 15,000 kg/yr of increased target production capacity. These are the first 17 rooms licensed within the Company’s Phase 4B expansion and now brings the Company’s Moncton facility to annualized licensed capacity to a target of 76,000 kg1.
The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) and Caliper Foods (formerly Stillwater Foods), a best-in-class provider of water-soluble cannabinoid products, are pleased to unveil the results of a preliminary human pharmacokinetic (“PK”) study of Caliper CBD, Caliper Foods’ proprietary tasteless and odourless water-soluble powder that can be added to almost any food or beverage.
- Study compared Caliper Foods’ proprietary, patent-pending water-soluble cannabinoid technology, Caliper CBD, with CBD in a carrier oil
- Observed total bioavailability of Caliper water-soluble CBD was 4.5 times greater than CBD in a carrier oil
- Higher cannabinoid absorption was observed for Caliper CBD within 15 minutes compared to the maximum absorption of CBD in oil in 45 minutes
Source: Shutterstock
Innovative Industrial Properties Expands Real Estate Partnership with AWH at Illinois Property
Innovative Industrial Properties (NYSE: IIPR) announced today that it entered into an amendment of the lease with a subsidiary of Ascend Wellness Holdings, LLC (AWH) at the property located in Barry, Illinois, making available an additional $8 million in funding for expansion of AWH’s regulated cannabis cultivation and processing facilities at the property.
The lease amendment also adjusted the base rent under the lease to take into account the additional available funding and extended the term of the lease agreement. Assuming full payment of the additional funding, IIP’s total investment in the property will be $33 million.
Village Farms (TSX: VFF) (Nasdaq: VFF) today announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received from Health Canada the amendment to its license permitting it to sell and distribute packaged, Pure Sunfarms-branded dried cannabis products directly to provincial/territorial wholesalers and authorized private retailers in accordance with provincial/territorial frameworks in Canada (sometimes referred to as a “packaging license”), effective immediately.
- Pure Sunfarms Expects to Begin Shipping Branded Cannabis Products to the OCRC and BCLDB in the Coming Weeks
Supreme Cannabis’ High End Brand, 7ACRES, Launches New Cultivar: Jack Haze
Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF), today announced that its wholly-owned subsidiary, 7ACRES has launched a proprietary strain; Jack Haze.
- 7ACRES launches new proprietary premium strain, Jack Haze
- Jack Haze is 7ACRES’ first Sativa-dominant strain with rare sensory characteristics
- 7ACRES continues to achieve premium pricing with the launch of Jack Haze
Canopy Rivers Begins Trading on the Toronto Stock Exchange
Canopy Rivers (TSX: RIV) (OTCPK: CNPOF), is pleased to announce that, as of the opening of the markets today, its class A subordinated voting shares will begin trading on the Toronto Stock Exchange (the “TSX”) under the ticker symbol “RIV”.
This milestone was achieved within less than one year of Canopy Rivers’ initial go-public transaction. No further action is required by existing shareholders.
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