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 July 5th – 11th, 2021.
Without further ado, let’s get started.
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The Termination Follows Glass House’s Merger with Mercer Park Brand Acquisition Corp. (MRCQF), a Special Purpose Acquisition Company
TPCO Holding Corp. (NEO: GRAM.U) (OTCQX: GRAMF), which is popularly known as The Parent Company, has terminated a conditional agreement to invest $50 million in Glass House Group, a California cannabis cultivation company. The Parent Company launched in January of this year. It’s an aggregate of multiple Cannabis companies owned by hip-hop and business icon, Jay-Z (Shawn Carter).
The UK-Based Company Focused on Increasing Patient Access to Transformative Mental Health Therapies, is Continuing to Ramp Up its Research Efforts
Compass Pathways (NASDAQ: CMPS) has entered into a Memorandum of Understanding with South Land and Maudsley NHS Foundation (SLaM) and King’s College London’s Institute of Psychiatry, Psychology, and Neuroscience (IoPPN) to conduct a multi-year research study on Psychedelic therapies. The foundation for the effort is research into COMP360 psilocybin therapy and its possibilities for use in mental health treatment. Psilocybin is the active ingredient in hallucinogenic or Magic Mushrooms. It has shown promise as a component of mental health therapy, especially treatment-resistant depression.
Marijuana Stocks Have Seen an Impressive Run-Up as of Late
The sector benchmark, the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ) (OTC: HMLSF), is up 76% year over year, far outperforming the S&P 500’s 39% gain. Investor hype is stemming from the gradual legalization of cannabis across state lines, along with the possibility of a federal decriminalization of the drug under the Biden administration. A shifting political situation has created a market worth upward of $18 billion — and growing. So let’s look at why three players in the maverick industry, Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF), Curaleaf (CSE: CURA) (OTCQX: CURLF), and Trulieve (CSE: TRUL) (OTCQX: TCNNF), are all top Marijuana Stocks for investors to place on their watchlists.
This Marks the First Purchase Order Between Red Light Holland and Creso Pharma and an Important Step Ahead of the Creation of The HighBrid Lab
Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced that it has secured its first purchase order (PO) from Red Light Holland’s (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX) wholly-owned distribution company SR Wholesale B.V. for Creso Pharma’s leading range of Swiss manufactured hemp CBD products. Both parties are also aggressively pursuing product development initiatives to explore the potential of combining functional mushrooms and other compounds with Creso Pharma’s existing product suite, should the proposed merger with Red Light Holland be approved by shareholders.
The Move Follows the Company’s Recent Announcement That its’s Subsidiary Adven GmbH Partnered With an Italian Pharmaceutical Company, Zambon Spa, to Provide Medical Cannabis Treatments for Patients, With an Initial Focus on Neurological Therapies
Vertically integrated cannabis company Curaleaf International announced Thursday it has successfully exported more than one metric ton of medical cannabis to Israel as part of a larger supply deal with BOL Pharma. Curaleaf International, previously known as EMMAC Life Sciences, was acquired by Curaleaf (CSE: CURA) (OTCQX: CURLF) in April in a $310 million cash and stock deal. To strengthen its footprint in Europe, while holding its EMMAC investment, the Massachusetts-based company created Curaleaf International Holdings Limited on the island of Guernsey.
Real-World Study Expands Access to MDMA-Assisted Therapy for Patients With PTSD and Concurrent Disorders and Will Provide Data on a Regulated Model for MDMA-Assisted Therapy
Numinus Wellness (TSXV: NUMI) (OTC: LKYSD) (FRA: LR23), a mental health care company advancing innovative treatments and safe, evidence-based Psychedelic-assisted therapies, is pleased to announce that Health Canada has cleared the MAPS-sponsored single-arm, open-label safety and feasibility study evaluating MDMA-assisted therapy for post-traumatic stress disorder (PTSD). This study is being pursued in collaboration with MAPS Public Benefit Corporation (MAPS PBC), a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), the leading developer of MDMA-assisted therapy training programs, treatment protocols and research.
Trulieve Cannabis is the Largest Licensed Cannabis Company in the State of Florida, With 85 Dispensaries and a Dominant Market Share
U.S. cannabis stock Trulieve (CSE: TRUL) (OTCQX: TCNNF) was a winner over the past year, returning about 175% over the past 12 months. So, what’s the scoop for TRUL going forward? Lots more upside, according to Beacon Securities analyst Russell Stanley, who in a client report on Wednesday reasserted his “Buy” rating and C$90.00 target for Trulieve. At press time, Stanley’s target represented a projected twelve-month return of 90%.
Data Linking Will Allow MindMed to Create Broad and Detailed Datasets to Better Understand the Real-World Treatment, Service Utilization, and Healthcare Experiences of Patients With Psychiatric and Substance Use Disorders
MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ), a leading biotech company developing Psychedelic-inspired therapies, and Datavant, a leader in helping healthcare organizations safely connect their data, announced a partnership through which MindMed will use Datavant’s privacy-protecting technology to link MindMed’s clinical trial data to external data from both clinical and real-world sources. MindMed plans to use Datavant’s linking technology across various stages of the drug lifecycle including discovery, clinical development, and commercialization.
RWB Thanked Its Shareholders For Their Patience While it Replaced its Previous Auditor and the Company Also Commend its New Auditor, Macias Gini & O’Connell LLP For Their Efforts in Completing an Exceptionally Complex and Challenging Audit With a Very Tight Timeline
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multi-state Cannabis operator and house of premium brands, is pleased to announce the release dates for the following financial statements, accompanying management discussion and analysis and related CEO and CFO certificates:
- Fiscal Year Ended December 31, 2020: Thursday, July 22, 2021 (after market close)
- Q1 Ended March 31, 2021: Monday, July 26, 2021 (after market close)
- Management Conference Call: Tuesday, July 27, 2021 @ 4:30 PM eastern time (details to be included with an earnings press release on July 22, 2021)
Completion of Acquisition Provides Creso Pharma With Access to the Emerging Global Market for Psychedelic Medicines – Estimated to Be Worth Up to USD $100B
Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced that it has completed the acquisition of established Canadian Psychedelics company Halucenex Life Sciences. The completion of the transaction follows considerable due diligence undertaken by Creso Pharma. The acquisition marks an important milestone, as it provides direct access to the emerging Psychedelic-assisted psychotherapy (PAP) sector and unlocks a number of opportunities for the company in the near term and following Creso Pharma’s pending merger with Red Light Holland (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX).
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