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 so you don’t have to.
Top News Stories for Wednesday, September 11, 2019:
TruTrace Technologies (CSE: TTT) (OTCQB: TTTSF) is pleased to announce that Tilray Canada Ltd., a subsidiary of Tilray (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production and distribution, has joined the Shoppers Drug Mart medical cannabis verification pilot program.
The Pilot Program is designed to increase transparency, interoperability and product identification within the medical cannabis industry. Shoppers recently announced the successful completion of Phase 1 of the Pilot Program and the addition of Deloitte Canada LLP in a project management and advisory role to execute Phase 2. Full production and implementation of TruTrace’s StrainSecure™ platform is targeted for late November 2019.
Harvest Health (CSE: HARV) (OTCQX: HRVSF), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., signed a new state-approved management services agreement on September 9, 2019 with a Maryland dispensary, Your Farmacy-CWS, LLC, that will give Harvest the right to operate the medical retailer.
The 3,120 square-foot medical dispensary in Lutherville-Timonium, MD will be transitioned to operate as a Harvest House of Cannabis store, known for best-in-class operations and industry-setting standards for cannabis products with a focus on bettering the community.
Canopy Rivers Launches Strategic Advisory Board
Canopy Rivers (TSX: RIV) (OTCPK: CNPOF) is pleased to announce the formation of its Strategic Advisory Board, a group of respected business leaders that will provide guidance to Canopy Rivers’ executive team as it continues to build and strengthen the Company’s global portfolio of leading cannabis companies.
“We have assembled a group of outstanding individuals with exceptional track records as leaders in their respective industries,” said Narbe Alexandrian, President and CEO of Canopy Rivers.
Emerald Health (TSXV: EMH) (OTCQX: EMHTF), a Canadian licenced producer of medicinal and recreational cannabis products, and HelloMD, a leading online cannabis healthcare company, have announced a partnership to further streamline and enhance Emerald’s patient onboarding experience.
As part of this new partnership, Emerald has integrated HelloMD’s industry-leading turnkey virtual services and patient onboarding solutions into its program for medical cannabis patients. Patients are offered 7 days-a-week access to independent, practitioner-led advice regarding medical cannabis. Interested patients connect securely online with a licensed practitioner, and the process is free of charge for patients who use the online service via Emerald’s website.
Source: Shutterstock
Ignite International Brands Announces Two Enterprising Management Selections
Ignite International Brands (CSE: BILZ) (OTCQX: BILZF) announced today the appointment of Linda Menzel as General Counsel and Gene Bernaudo as Global Head of Cannabis based in Toronto, Canada. As Ignite’s General Counsel, Linda Menzel brings significant experience working within lifestyle branded environments.
Most recently, Linda was General Counsel at Loot Crate, Inc. where she was a key member of the senior leadership team as well as corporate secretary. Previously, Linda was Associate General Counsel at Playboy Enterprises, Inc. where she supported the international licensing and intellectual property matters for this globally recognizable lifestyle brand.
Canada House Wellness Builds off Sales License, Executes Convertible Security Funding Agreement
Canada House Wellness Group (CSE: CHV) announced today that it has entered into a funding agreement for the issue of convertible securities for gross proceeds of up to $14,587,500 CAD with an entity managed by The Lind Partners, a New York-based institutional fund manager. At the first closing, the Company will issue a convertible security to the Investor with a face value of $3,105,000 CAD.
“This investment from The Lind Partners is a strong validation of the fundamentals of our business and further accelerates our Path to Profitability,” said Chris Churchill-Smith, CEO, Canada House.
Invictus Announces AB Laboratories Receives Amended License
Invictus MD (TSXV: GENE) (OTCQX: IVITF) is pleased to announce that AB Laboratories Inc. a company which is a 50% owned subsidiary of Invictus has received their amended license from Health Canada to include the new 40,000 sq. ft. custom built cultivation facility located near Hamilton, Ontario.
As previously announced on June 26, 2019, AB Labs’ facility contains ten identical cultivation rooms capable of producing over 65 crops annually on a tightly controlled weekly production schedule. Five rooms have been propagated since receiving the amended license on August 30, 2019. The initial harvest is scheduled for November 1, 2019.
Tilray Taps Cowen and Company to Sell up to $400 Million in Stock
In an 8-K filing released after the close, Tilray (NASDAQ: TLRY) announced that Cowen and Company has been selected to sell up to $400 million in stock once an S-3 registration statement is effective. Any sales will be an “at-the-market offering”.
According to the company, “Tilray became eligible to file the registration statement following the one-year anniversary of its IPO in July. We consider it good corporate practice to maintain a shelf registration, in line with other companies at our stage of development in a high-growth industry. Doing so provides Tilray with flexibility to support our global growth strategy and drive value creation over the long term.”
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