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 19th – 25th, 2021.
Without further ado, let’s get started.
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RWB posted Q1 2021 adjusted sales of $32.7 million, up 14.5% over last quarter’s $28.6 million
MOU will provide an option for post clinical trial support and workplace integration programs for phase II clinical trial participants
Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced that wholly-owned psychedelics company Halucenex Life Sciences has entered into a non-binding Memorandum of Understanding (MOU) with Nova Scotia-based support service provider Landing Stron. As part of the agreement, Landing Strong will and where appropriate, provide post clinical trial support and workplace integration for individuals that participate in Halucenex’s pending phase II clinical trial to test the efficacy of psilocybin on the treatment of Treatment-Resistant Post Traumatic Stress Disorder (PTSD).
Curaleaf has had healthy financial reports and projections for some time, and Stanley doesn’t see that changing any time soon
Beacon Securities analyst Russell Stanley is still looking positively upon Curaleaf (CSE: CURA) (OTCQX: CURLF), reiterating his Buy rating on the stock in a report issued Friday while maintaining his target price of $25.00/share for the company, with a potential return of 52%.
The grant will be used for a clinical trial that will assess the effectiveness of intravenous ketamine in combination with Internet-based cognitive behavioural therapy in the treatment of suicidality in persons with depression
Braxia Scientific (CSE: BRAX) (OTCQB: SHRMF) (FRA: 496), a Toronto-based company that provides ketamine-assisted therapy announced that CEO Dr. Roger McIntyre and Chief Medical and Scientific Officer Dr. Josh Rosenblat have received funding of CA$918.000 (approximately $732.000) from the Canadian Institutes of Health Research.
Focusing on MSOs in his portfolio, he touched on some options worth looking into and the importance of geography and market potential
Jason Spatafora, aka The Wolf of Weed Street, likes U.S. cannabis MSOs and believes that the entire U.S. cannabis market is a valuable portfolio addition with the right due diligence. He considers tier-one MSOs the way to go. Spatafora noted some U.S. MSOs he has a position in after meeting his criteria. They include Curaleaf (CSE: CURA) (OTCQX: CURLF), Trulieve (CSE: TRUL) (OTCQX: TCNNF), Cresco Labs (CSE: CL) (OTCQX: CRLBF), Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2), Ayr Strategies (CSE: AYR.A) (OTCQX: AYRSF) and Verano Holdings (CSE: VRNO) (OTCQX: VRNOF).
What connects a nocturnal bonfire ritual in the Peruvian rainforest with Wall Street? The potent psychedelic compound N, N-dimethyltryptamine, better known as DMT
Starting Wednesday, MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ), a Nasdaq-listed biotech company will launch a clinical research study on DMT–also known as the active ingredient in ayahuasca, an Amazonian hallucinogenic potion. DMT produces intense alterations of consciousness and deep out-of-body psychedelic experiences. The compound, which has been used ceremonially for centuries by native tribes from the Amazon basin, is believed to offer outstanding capabilities in the treatment of mental health conditions like depression and anxiety.
HGS Hydro, founded in 2015, owns and operates six stores in Michigan with plans to open a seventh store in the fall. Last year, it had $50 million in revenue
Hydroponics Innovator GrowGeneration (NASDAQ: GRWG) reported Wednesday it will acquire HGS Hydro, the third-largest chain of hydroponic garden centers in the U.S. for an undisclosed price. With this transaction, which is projected to close prior to the end of the fiscal year 2021, GrowGen will run 14 hydroponic garden centers in Michigan and 65 stores in total. New locations are in Shelby Township, Southfield, Sterling Heights, Hazel Park, Walled Lake, Albion and Imlay City, Michigan.
Excitement around psychedelics grows as major U.S. exchanges make room for more companies in the sector
Field Trip Health (CSE: FTRP) (OTC: FTRPF), a company developing a network of psychedelics-assisted therapy clinics, announced conditional approval from the Nasdaq to list its stock on the exchange. A number of companies in the psychedelics space have listed on the Nasdaq this year, including Compass Pathways (NASDAQ: CMPS), MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ) and Atai Life Sciences (NASDAQ: ATAI).
Full-year 2020 gross profit was 57% of revenue at $13.35 million, compared to nil in 2019
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) released its fourth-quarter and full-year 2020 earnings after the market close on Thursday providing investors with certain FY 2020 financial results and select subsequent events. RWB’s fourth-quarter 2020 adjusted sales were CDN $28.6 million, up 290% over the previous quarter. The company’s full-year 2020 adjusted sales amounted to $37.8 million, with revenue coming in at $23.3 million.
The addition of Bruce Linton as the chairman of The HighBrid Lab pending the completion of Creso’s merger with psychedelics standout Red Light Holland will be an absolute game-changer for the new combined company
As the pending merger between global cannabis leader Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) and rising psychedelics superstar Red Light Holland (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX) moves towards closing, Creso recently announced the completion of its acquisition of established Canadian psychedelics company Halucenex Life Sciences. As the founder and former CEO of cannabis industry behemoth Canopy Growth (TSX: WEED) (NASDAQ: CGC) (FRA: 11L1) and early investor and director at top psychedelics firm MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ), Bruce Linton committing to chair The HighBrid Lab is a very big deal as he’ll bring with him a wealth of cannabis and psychedelics industry experience as well as an invaluable deal-making and financing Rolodex.