Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelic Stock News Stories for the Week of June 8th – 14th, 2020.
Without further ado, let’s get started.
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Red White & Bloom Brands (CSE: RWB) (OTC: TDRYD) provided an investor update following the competition of its reverse takeover of Tidal Royalty, which saw RWB shares commence trading on the CSE. RWB also announced a blockbuster deal with High Times to acquire the licensing and branding rights for High Times dispensaries and cannabis products in Michigan, Illinois and Florida.
Proceeds of the financing will allow Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) to accelerate its North American Psychedelics clinic expansion program.
If you want to get a feel for the level of anxiety in America right now, look no further than Xanax prescriptions. But what if there were a non-addictive alternative to treating anxiety? Psychedelic pharmaceutical company MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: BGHM) says there is. It’s called LSD, and they’re going to the FDA to prove it.
Rogers also discusses Red White & Bloom’s (CSE: RWB) (OTC: TDRYD) successful IPO, landmark High Times deal, the meaning of Super State Operator and much more.
One such stock that I suspect many investors are evaluating right now is Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P). Some who bought Aurora are no doubt wishing they had bailed out sooner.
The one thing that could send Pot Stocks soaring in a hurry is the federal legalization of marijuana in the U.S. If and when that happens, it’ll not only be possible for cannabis companies to move their products legally across state lines but it could also result in a flurry of mergers and acquisitions. Canadian companies like Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) are especially eager to tap into the lucrative U.S. pot market.
It’s been an incredible year to date for the Psychedelics leader Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496), here’s a list of the company’s top accomplishments and milestones over the last quarter.
In most places, the marijuana industry was deemed essential amid widespread lockdowns — which is why revenue is pouring in for the sector. While some Cannabis Stocks are shining — namely the U.S. cannabis companies — others are still recovering from their losses from 2019. Then, there are Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) and Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E), which are focused on staying afloat with their strong balance sheets.
Because once again, in defiance of federal prohibition, I’m enjoying both the medicinal benefits of psychedelics and the financial benefits, too.
Red White & Bloom Brands (CSE: RWB) (OTC: TDRYD) announced the closing of its previously announced deal to acquire the licensing rights for the branding of High Times dispensaries and High Times cannabis-based CBD and THC products in the States of Michigan, Illinois and Florida. The deal combines the largest midwest cannabis operation boasting 350,000 transactions per year with the world’s most Iconic marijuana brand for over 46 years.