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 May 4th – 10th, 2020.
Without further ado, let’s get started.
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10. Chairman and CEO of Profitable Cannabis Firm Joins Champignon Brands’ Board of Directors
Champignon Continues to Bolster its Impressive Team with the Company Appointing Pat McCutcheon to its Board
As the Founder, CEO and Chairman of MediPharm Labs (TSX: LABS) (OTCQX: MEDIF) (FRA: MLZ), McCutcheon was instrumental in creating one of the cannabis sector’s only profitable Pot Stocks. McCutcheon’s capital raising expertise, leadership skills and business acumen will be valuable assets for Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) as it begins to accelerate its North American expansion of new Psychedelic clinics.
9. 3 Top Cannabis Stocks to Buy in May
There Are Still Promising Picks in the Cannabis Sector for Long-Term Investors
There are three Marijuana Stocks that look especially appealing right now. Here’s why Innovative Industrial Properties (NYSE: IIPR) (FRA: 1IK), Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) and Scotts Miracle-Gro (NYSE: SMG) (FRA: SCQA) are top cannabis stocks to buy in May.
READ FULL MAY CANNABIS STOCKS ARTICLE
8. Aurora Cannabis Keeps $2 Price Target at PI Financial
Beleaguered Cannabis Name Aurora Has Seen its Share Price Destroyed Over the Past Year, Dropping from $13 to $1
Ahead of quarterly Earnings from Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P) due next week, PI Financial’s Jason Zandberg said to be prepared for a COVID-19-inspired negative impact on the company’s finances. In an update to clients on Wednesday, Zandberg maintained his “Neutral” rating and $2 target price, which at press time represented a projected 12-month return of 102%.
READ FULL AURORA CANNABIS ARTICLE
7. Canopy Growth Receives Massive Cash Injection as Constellation Ups Stake in the Top Canadian LP
As a Result of Constellation’s Warrant Exercise, Canopy Growth Added $245 Million to the Company’s Coffers
Constellation Brands (NYSE: STZ) (FRA: CB1A) exercised nearly 19 million warrants boosting its ownership position in Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) to over 142 million shares. After acquiring the new shares, here’s what Constellation Brands’ Canopy Growth position looks like now.
READ FULL CANOPY CONSTELLATION ARTICLE
6. MindMed Announces $10 Million Bought Deal
MindMed Plans to Use the Proceeds From the Equity Financing to Fund its University Hospital Basel Collaboration
MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) announced that it has entered into a letter of engagement to conduct a bought deal with Eight Capital as the sole bookrunner and lead underwriter. The Psychedelics firm priced its financing at $0.53 per share for gross proceeds of $10,000,040.
5. Aphria Settles $90.8 Million in Convertible Debt with Share Issuance
In Total, Aphria Will Be Repurchasing $90.8 Million of its Outstanding Debt Issued in April 2019
Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E) announced that it has entered into an agreement with certain convertible debt holders to repurchase outstanding debt at a significant discount to the face value of that debt. What’s more, is that the majority of the debt repurchase is being settled via the issuance of common shares with a small cash component involved.
4. Aleafia Health Secures Health Canada Licence Amendments for Paris Production and Extraction Facility Phase II Expansion
Aleafia is Now in a Position to Accelerate its Cannabis 2.0 Strategy While Exponentially Increasing its Extraction, Production and Packaging Capacity
Aleafia Health’s (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) wholly-owned subsidiary Emblem Cannabis has secured a Health Canada licence amendment for its Paris Facility’s 30,000 sq. ft. Phase II expansion, entirely dedicated to the extraction, production, packaging and distribution of finished cannabis products.
READ FULL ALEAFIA HEALTH ARTICLE
3. Cannabis Innovator Cronos Group Sees Revenue Jump 181% During Q1
Cronos, Like Other Cannabis Companies, Has Been Dealing with the Effects of the Coronavirus Outbreak
Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) saw its revenue spike 181% during the first quarter of 2020. The Canadian licensed producer (LP) revealed the number in its latest Earnings report on Friday.
READ FULL CRONOS GROUP ARTICLE
2. Champignon Brands Assembles Task Force to Accelerate Expansion of New Psychedelic Clinics
The Newly Formed Expansion Committee Plans to Accelerate Champignon’s Entry into the Vast U.S. Market
Building off the recent AltMed deal, which saw Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) acquire the Health Canada licensed CRTCE clinic, Champignon intends to open/acquire at least 5 new clinics in 2020. The Psychedelics leader disclosed that it continues to hold discussions with revenue-generating clinics in New York, California, Florida, Pennsylvania, Texas and Missouri.
READ FULL CHAMPIGNON BRANDS ARTICLE
1. A $5 Billion Market Valuation for Psychedelics May be Too Low
Psychedelics Have Gone Mainstream, All Thanks to a Wide Range of Research That Points to Success in Treating a Range of Mental and Other Health-Related Issues
In short, Psychedelics may change the way we look at medicine – and significantly help improve the health and mental state of millions of people around the world. If that’s the case, a market value estimate of $5 billion may be at the very low end. As the growth story unfolds, some of the companies to keep an eye on include: Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496), MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM), GW Pharma (NASDAQ: GWPH) (FRA: GW2A), Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF) (FRA: 31R) and The Yield Growth (CSE: BOSS) (OTCQB: BOSQF) (FRA: YG3).
READ FULL PSYCHEDELICS SECTOR ARTICLE
Also Read: 5 Reasons to Get Your Portfolio High on Psychedelic Medicine
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