In this week’s Cannabis Countdown, we’ll countdown and recap the top 10 marijuana stock news stories from around the industry for the week of July 1st – 7th, 2019.
10. Emerald Health Commends Government of Ontario for Expanding Retail Cannabis Store Licences
Emerald Health (TSXV: EMH) (OTCQX: EMHTF) commends the Government of Ontario for its newly announced plans to expand the province’s brick-and-mortar retail sales network for adult-use cannabis. Emerald believes that this initiative will position the industry and the Company for significant sales growth in Canada’s largest province.
Read full Emerald Health story
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9. Tilray Accelerates Global Growth with Addition of Top Talent from European Beverage and Pharma Industries
Tilray (NASDAQ: TLRY) provided investors with an update on their international cannabis operations. The company announced the expansion of its European leadership team with the addition of 5 key personnel from Europe’s beverage and pharmaceuticals space.
Read more Tilray news & articles
8. Horizons ETFs Completes Quarterly Rebalance of its Cannabis-Focused ETFs
Horizons ETFs Management (Canada) announced this morning the quarterly rebalance of their cannabis-focused ETFs Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ), Horizons US Marijuana Index ETF (NEO: HMUS), and Horizons Emerging Marijuana Growers Index ETF (NEO: HMJR).
Let’s dive in and take a look at which stocks were added to the 3 Horizons Cannabis ETFs.
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7. Origin House Updates Investors on U.S. DOJ Antitrust Review in Connection with Pending Cresco Labs Merger
Origin House (CSE: OH) (OTCQX: ORHOF) provided investors with a corporate update this morning on its planned merger with fellow U.S. multi-state operator (MSO) Cresco Labs (CSE: CL) (OTCQX: CRLBF). The company also provided an update on the replacement of its debt facility and the current U.S. Antitrust Review in connection with their pending Cresco Labs Merger.
Read full Origin House/Cresco Labs story
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6. CannTrust Provides Update on Outdoor Cultivation and First Shipment to Australia
CannTrust Holdings (TSX: TRST) (NYSE: CTST) announced an update on its outdoor cultivation operation in British Columbia and its first shipment of capsule and dry flower products to Australia.
“We have access to premium land in a very rich agricultural region and we remain undeterred in our long-term strategy to develop innovative cannabis products at low cost,” said Peter Aceto, Chief Executive Officer.
Read more CannTrust news & articles
5. TransCanna and Lifestyle Delivery Systems to Join Forces, Announce Merger Plans
TransCanna Holdings (CSE: TCAN) (OTCPK: TCNAF) (FSE: TH8) and Lifestyle Delivery Systems (CSE: LDS) (OTCQX: LDSYF) each issued a press release recently announcing their plans to merge via a proposed business amalgamation. The companies have signed an exclusive agreement to negotiate the planned merger.
Read full TransCanna/LDS story
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4. Aleafia Receives Health Canada Export Permits, First International Cannabis Shipment Forthcoming
Aleafia Health (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) announced this morning that the company has received multiple export permits from Health Canada. These export permits will allow Aleafia to ship cannabis products internationally. Aleafia expects to complete its first international shipment of branded cannabis oils to Australia within the next month.
Read more Aleafia news & articles
3. What Do Independence Day and the Firing of Bruce Linton Have in Common?
The cannabis industry shakeout continued early Wednesday morning when Canopy Growth (TSX: WEED) (NYSE: CGC) announced that Co-CEO and board member, Bruce Linton, was “stepping down” (or so we thought) from his roles with the company. With the hype phase all but over, the time has come for public cannabis companies to start delivering where it counts most, their bottom line.
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2. Canopy Growth CEO Bruce Linton Cashes Out
Canopy Growth (TSX: WEED) (NYSE: CGC) Founder and Co-CEO Bruce Linton took some heat late last week after it was reported via SEDI insider filings that the leader of the world’s largest cannabis company exercised and sold off nearly 1/3rd of his Canopy stock options. The options exercised by Linton had strike prices that ranged between $2.95 – $24.12. President and Co-CEO Mark Zekulin made similar trades around the same dates.
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1. Pot Mogul Bruce Linton Fired as Canopy Growth CEO and Removed from Board
The newswires were buzzing last week when news began to circulate that Canopy Growth’s leader Bruce Linton was fired as CEO and removed from the company’s board of directors. Financial media outlets such as CNBC were quick to touch base with the pot mogul to get his side of the story after Canopy released a press release stating Linton stepped down.
Read full Bruce Linton fired story
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