Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.
In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of February 22nd – 28th, 2021.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view the full article.
Florida’s Cannabis Market is the Third-Largest in the U.S., With 2020 Medical Marijuana Sales Exceeding $1.2 Billion
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced that the company has struck a deal with Acreage Holdings (CSE: ACRG.A.U) (OTCQX: ACRGF) (FRA: 0VZ) to acquire its Florida operations. Upon closing of the deal, RWB will have operations or brands in 6 of the top 10 U.S. states, which generated combined revenue of over $8.8 billion last year.
The Buzz Surrounding Psychedelic Therapies is Only Going to Grow Over Time
If you feel that missed out on the cannabis stock bonanza of the last few years, don’t fret. There’s another upcoming opportunity that’s shaping up to be even bigger: psychedelics. Even though psychedelic therapies are still in their infancy, I think there are already a few promising Psychedelic Stocks, such as Compass Pathways (NASDAQ: CMPS) and MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: MMQ) that are worth a $1,000 investment.
Following the Cannabis Sector’s Meteoric Rise to Start the New Year, the Big 4 Canadian LPs Have Each Reported Quarterly Earnings
As a result, Cannabis investors have had the opportunity to access the up to date fundamentals of each company and determine if top Canadian Pot Stocks Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E), Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1), Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P) and Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) are deserving of their current lofty share prices.
Field Trip Intends to Use the Net Proceeds From the Offering for the Development of the Company’s FT-104 Novel Psychedelic Development Program, the Opening of New Field Trip Health Centers, and for Working Capital and General Corporate Purposes
Field Trip Health (CSE: FTRP) (OTC: FTRPF) announced that, due to strong demand, it has agreed with a syndicate of underwriters led by Bloom Burton Securities, to increase the size of its previously announced $50,000,015 bought deal offering. Pursuant to the upsized deal terms, the underwriters have agreed to purchase, on a bought deal basis, 12,750,000 common shares of Field Trip, at a price of $6.50, for aggregate gross proceeds of $82,875,000.
Chewing Gum Heir William “Beau” Wrigley Jr., the CEO of Atlanta-Based Parallel, Struck a Mammoth Deal With an Entertainment Mogul to Take the Cannabis Multi-State Operator Public Through a Transaction That Values the Company at $1.9 Billion
Ceres Acquisition Corp. – a special purpose acquisition company (SPAC) co-founded by Scott “Scooter” Braun – will buy Parallel, allowing the new company to go public by taking on Ceres’ listing on Canada’s NEO Exchange.
The Acquisition Will Help MindMed Build a Full Stack Digital Mental Health Platform for Psychedelic Medicines
MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: MMQ) reported that it has closed the previously announced acquisition of HealthMode, a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. MindMed also announced that ex-Pfizer (NYSE: PFE) Digital Medicine Executive Dr. Daniel R. Karlin and former Google AI/ML industry veteran Bradford Cross were added to the company’s executive team.
It Only Took Six Months for the Newest Cannabis ETF to Reach $1 Billion in Assets
On Tuesday, AdvisorShares announced its AdvisorShares Pure U.S. Cannabis ETF (NYSE: MSOS) crossed the threshold, making it just the second Cannabis ETF to reach the mark. ETFMG Alternative Harvest ETF (NYSE: MJ) is the other.
Shareholders Representing 57% of Issued and Outstanding Shares Voted and 95% Voted in Favour of the Transaction
Ayr Strategies (CSE: AYR.A) (OTCQX: AYRSF), a leading vertically integrated cannabis multi-state operator, and Liberty Health (CSE: LHS) (OTCQX: LHSIF) (FRA: S6UQ) announce at a special meeting, Liberty security holders voted overwhelmingly in favour of the proposed acquisition of Liberty shares by Ayr in a transaction originally announced on December 22, 2020.
MindMed’s Stock is Up 937% Since March 2020 But it’s Just Getting Started
MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: MMQ) is one of the best Psychedelic Stocks out there. The excitement around the medicinal potential of Psilocybin and other Psychedelics like kratom has helped put MindMed into the spotlight and fuel strong capital appreciation.
The American Cannabis Market is a Major Growth Opportunity for Creso Pharma and its Planned Deal With CERES Natural Remedies Will Help the Company Establish a U.S. Presence Ahead of Likely Federal Legalization
Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced that it has executed a non-binding letter of intent (LOI) with leading CBD and plant-based remedies provider CERES Natural Remedies to distribute and sell Creso’s range of CBD and hemp animal health products in the USA. CERES’ operating business, High Fidelity is Vermont’s largest independent cannabis company and through its established footprint, has generated over USD $35 million in revenue since 2013.