We’ve scanned the newsfeeds of all the important marijuana stocks and put together this recap so you don’t have to.
Yesterday aftermarket Aurora Cannabis (TSX: ACB) (NYSE: ACB) reported its FQ4 earnings. The company missed analyst’s revenue expectation causing shares of ACB and most of the sector to drop today. Read Aurora’s earnings recap here.
Top News Stories for Thursday, September 12, 2019:
Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) announced today the company is the first in Florida to launch medical cannabis tablets, available in all 26 Curaleaf dispensaries across the state. Curaleaf, operator of the largest cannabis retail footprint in the US, with 49 dispensaries across the country, also sells medical cannabis in tablet form in Connecticut, New Jersey, Maryland and New York, with plans to launch in additional states.
“Knowing that our premium quality medical cannabis products allow so many of our patients to live life well, we are always looking for alternative administration methods to meet patients’ needs,” said Joe Lusardi, Curaleaf CEO.
Heritage Cannabis (CSE: CANN) (OTCQX: HERTF) is pleased to announce that it has signed a Hemp Processing Agreement with 3277991 Nova Scotia Limited, doing business as Truro Cannabis Co.
The Agreement will see Heritage’s subsidiary Voyage Cannabis Corp take possession of hemp biomass sourced by Truro and produce bulk crude oil or further formulated products for delivery and sale to final purchasers legally able to purchase the Product identified by Truro, both within and outside of Canada. The Agreement contemplates an initial export of medically focused Product to the Caribbean, for which a Health Canada export permit has already been obtained by Voyage. The initial receipt of biomass was approximately 700 kilograms.
The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium certified organic cannabis, is pleased to announce that following its launch in Ontario at the end of August, which marked the Company’s entrance into Canada’s recreational market, initial demand has exceeded expectations. TGOD’s high-THC signature strain, Unite Organic, is performing well online and at dispensaries, triggering a second order from the OCS earlier than initially anticipated.
“We are thrilled to witness such strong sales and positive feedback from retailers and consumers across Ontario, Canada’s most populous province at 14.32 million people. We can see from the initial response that demand for high-quality flower is strong,” commented Brian Athaide, CEO of TGOD.
Valens GroWorks (TSXV: VGW) (OTCQX: VGWCF) is pleased to announce it has entered into an arm’s length, binding, five-year, white label cannabis infused beverage contract with the cannabis division of Iconic Brewing, one of the leading innovative beverage companies in Canada.
Valens is excited to announce a white label agreement with Iconic to provide high quality extracts, formulation services, and SōRSE™ emulsion IP for its cannabis infused beverages. Iconic will brand and market the final product across Canada. Under the terms of the agreement, a minimum of 2.5 million cannabis infused beverages will be produced over five years with the opportunity to expand on the partnership with new product offerings in the near future.
48North Cannabis (TSXV: NRTH)(OTCPK: NCNNF), is pleased to announce that it has secured 1,000,000,000 mg of high-quality active CBD oil from Iverson Family Farms based in Willamette Valley, Oregon through an industrial hemp production contract.
Under the terms of the contract, Iverson will harvest industrial hemp on 33 acres of land in 2019 for 48North for the purposes of providing the Company with high-quality active CBD oil.
Namaste Technologies (TSXV: N) (OTCQB: NXTTF) today announced that it has signed a distribution and marketing agreement with Cultivated Beauty, a subsidiary of leading skin care retailer Swisspharme Inc and Elizabeth Grant International, to offer a line of its specially formulated hemp-based skin care products through CannMart’s online marketplace. These products are now available on the CannMart website.
“We’re launching into the skin care market with one of Canada’s top selling topical brands,” said Meni Morim CEO of Namaste Technologies.
Innovative Industrial Properties (NYSE: IIPR), the first and only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry, announced today that it closed on the final parcel of a four-property portfolio in southern California, which comprises approximately 79,000 square feet of industrial space in total.
The purchase price for the southern California portfolio was approximately $17.3 million in the aggregate (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at each property with a subsidiary of Medical Investor Holdings LLC (d/b/a Vertical) for continued operation as licensed cannabis cultivation, extraction, manufacturing and distribution facilities in accordance with California regulations.
1933 Industries (CSE: TGIF) (OTCQX: TGIFF), a vertically integrated cannabis consumer packaged goods company, is pleased to provide guidance for its fiscal Fourth Quarter ended July 31, 2019.
Based on preliminary results, the Company expects revenue of $5.2M for its Q4, representing a steady increase of 13% over its Q3 results ($4.6M) and a 33% increase over the same quarter in fiscal 2018 ($3.9M). The Company anticipates gross margin to continue to improve during the second half of fiscal 2020, as its infrastructure projects become fully operational and supplying the necessary raw materials for its branded goods products. Revenues are expected to increase during fiscal 2020, as the Company continues to expand distribution of its large portfolio of brands across the United States and additional licensing partners generate new revenue.
Move Over Curaleaf, There’s a New MSO in Town and it’s Set to Hit The Street This September
Get the full details here so you don’t miss out on the next potential 10 bagger.