Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelic Stock News stories for the week of March 9th – 15th, 2020.
Without further ado, let’s get started.
Narbe Alexandrian, CEO of Canadian licensed producer (LP) Canopy Rivers (TSX: RIV) (OTC: CNPOF), sat down with TCI host Alyssa Boston (Miss Universe Canada 2019 + Cannabis Crusader) to discuss the current state of the business as well as the company’s plans for 2020 and beyond. The company has a strategic partnership in place with Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1), the world’s largest cannabis firm.
Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) announced that it has made a further investment into TerrAscend (CSE: TER) (OTCQX: TRSSF), this time in the form of a secured debenture to the tune of CDN $80.5 million. The loan follows a USD $10 million investment by Canopy Rivers (TSX: RIV) (OTC: CNPOF) in late 2019, as well as a subsequent financing by TerrAscend.
It was an even bigger bloodbath on weed street as Pot Stocks collapsed in a sea of red. While many Marijuana Stocks posted double-digit losses on the session, not a single company was able to close the day in the green. To give you a better idea of how bad the trading session was, take a look at the day’s top 10 cannabis stock decliners.
Ever been so strapped for cash that you announced a $90.4 million registered offering during the worst financial week in over a decade? Evidently, Tilray (NASDAQ: TLRY) has. The company this morning announced that it will be conducting a financing for up to $90.4 million this morning, which is expected to close March 17, 2020.
The big question is, should investors consider putting their money to work in Canadian Pot Stocks, which are operating in the only recreationally legal developed country at the moment, or U.S. Cannabis Stocks, which are operating in the largest weed market in the world by annual sales?
Hollister Biosciences (CSE: HOLL) (OTC: HSTRF) (FRA: HOB) announced this morning the signing of an LOI to acquire Alphamind Brands, an exciting company operating in the legal medicinal mushroom and psilocybin markets. Alphamind is developing mushroom products and conducting R&D for Psilocybin pharmaceutical applications.
Champignon Brands (CSE: SHRM) (FRA: 496) announced the execution of a definitive agreement to acquire British Columbia based craft mushroom cultivator and supplier Artisan Growers Ltd. Champignon also has plans to create the most compelling IP portfolio, clinical pipeline and drug development platform in the Psychedelics sector.