In this week’s Cannabis Stock News Recap, you will find the top Cannabis News stories from around the industry for the week of June 24th – 30th, 2019.
Aleafia Health (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) reported to investors this morning that it has closed its previously announced public offering. The offering of convertible debenture units was done at a price of $1,000 per unit. The combined gross proceeds from the offering amounted to $40,250,000 which includes the full exercise of the over-allotment option.
- Public Offering Details
- Convertible Debenture Units
- Additional Convertible Debenture Info
Datable Technology (TSXV: DAC) (OTCQB: TTMZF) provided investors with an update this morning on the company’s plans to enter the eSports space through their deal with uBUCK Technologies. uBUCK is a wholly-owned subsidiary of LiteLink Technologies (CSE: LLT) (OTC: LLNKF). The 2 up and coming technology companies plan to enter into a mutually beneficial strategic relationship to create a new eSports loyalty and rewards platform. The deal with uBuck once fully implemented will provide Datable with an additional source of revenue.
“Our customers are leading consumer brands that are keen to get exposure to the eSports demographic. uBUCK’s Streambucks payment solution and their relationship with Enthusiast Gaming makes them a great partner for the eSports sector,” said Kim Oishi, Executive Chairman of Datable.
Canopy Growth Corp (TSX: WEED) (NYSE: CGC) and Acreage Holdings (CSE: ACRG.U) (OTCQX: ACRGF) released a joint press release today announcing the implementation of the company’s previously announced plan to merge and form one large North American powerhouse. The merger is however contingent on one major event taking place first.
The lifting of the U.S. Federal cannabis ban is referred to as the “triggering event” in the Canopy Growth Corp and Acreage agreement. Canopy Growth Corp has reserved the right to waive the triggering event.
Canopy Growth Corp (TSX: WEED) (NYSE: CGC) announced this morning that they have completed the acquisition of Saskatoon-based extraction company KeyLeaf Life Sciences (formerly known as POS Bio-Sciences). Included in the deal were KeyLeaf’s intellectual property and their related entities.
- KeyLeaf Key Points
- Canopy’s Saskatchewan Facility
- Illinois Facility
Canopy Growth Corp Corporation (TSX: WEED) (NYSE: CGC)(“Canopy Growth Corp” or the “Company”) is pleased to announce that it has received a new license from Health Canada permitting it to grow cannabis at an outdoor site in northern Saskatchewan. Hours after receiving the license, the first cannabis cuttings were planted at a 7 million sq. ft. (160 acres) secure cultivation field in the province, one that is patrolled by drones (kidding – no drones, promise).
“Our team has outdoor, at-scale cannabis expertise gained from over a decade of hemp farming experience, including Canopy’s 4,000-acre hemp operation executed last year, the extract of which is bolstering our CBD supply for the medical and recreational markets,” said Mark Zekulin, President and co-CEO, Canopy Growth Corp.
Constellation Brands (NYSE: STZ) (NYSE: STZ.B) released their financial results for the first quarter of fiscal 2020 today. The company reported that they exceeded expectations due to their strong operating margin and cash flow performance achieved by their core business. A conference call to discuss their earnings took place this morning at 10:30 am EST. The call was hosted by CEO Bill Newlands and CFO David Klein. For details on the earnings call click link below.
- Q1 2020 Earnings Highlights
- Canopy Growth (TSX: WEED) (NYSE: CGC) Investment
“As we kick off fiscal 20, I’m pleased with our strong start to the year. – Constellation Brands CEO Bill Newlands.
The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) released exciting news today updating investors on their partnership with Wiz Khalifa‘s cannabis brand Khalifa Kush. Supreme announced they have officially launched their first product through their Khalifa Kush Enterprises Canada partnership under the KKE brand line.
“I’m excited to bring our first products to Canada and launch KKE Oils. They are an awesome, high-in-THC product that everyone will love,” said Wiz Khalifa, principal of KKE. “This is a legendary moment that will be followed by many more game-changing releases KKE will launch with Supreme Cannabis over the next year.
The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced the launch of Supreme Heights, an investment platform based in London, UK focused on opportunities in the UK and Europe’s CBD health and wellness space.
“The rapidly evolving CBD markets in the UK and Europe present compelling investment opportunities given the promising environments for new health and wellness companies to establish differentiated brands and capture meaningful market share. Supreme Heights is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space,” said Navdeep Dhaliwal, CEO of Supreme Cannabis.
Organigram Holdings (TSXV: OGI) (NASDAQ: OGI) announced this morning that the company has received Health Canada approval for 17 new cannabis cultivation rooms at the perimeter of their Phase 4A/4B building. 13 of the 31 originally planned Phase 4A cultivation rooms have already been licensed.
“Sustainable growth, exceptional quality, and constant innovation are the pillars of our overall strategic approach,” explains Greg Engel, CEO, Organigram. “We are proud to continue to increase our physical capacity to meet the needs of cannabis consumers across the country while also bringing new thinking and technology to our production.”
Tilray (NASDAQ: TLRY) announced early this morning the successful importation of a bulk medical cannabis oil shipment into the United Kingdom. The medical cannabis oral solution was shipped from its GMP certified facility in Canada. The shipment by Tilray will allow the company to provide UK medical patients with a local supply of high-quality cannabis oil.
“As demand ramps up in the U.K., Tilray is well positioned to be a leading supplier of medical cannabis products,” says Sascha Mielcarek, Managing Director of Tilray Europe. “Regulations are progressing as more and more countries across Europe are recognizing the benefits of medical cannabis and its potential to improve patients’ quality of life.
MediPharm Labs (TSXV: LABS) (OTCQX: MEDIF) (FSE: MLZ) announced today that it has received an export permit from Health Canada for the shipment of solid cannabis concentrate as well as an import permit from the Australian Government’s Office of Drug Control Section.
“As we look to remain a global leader in cannabinoid extraction, we are proud to have completed our first international shipment of MediPharm Labs’ cannabis concentrates to Australia,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs.
Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) released news this morning announcing the acquisition of 2 more cannabis businesses. Curaleaf paid a total of $25.5 million for the 2 separate Arizona based companies. The deals will give Curaleaf a leading retail footprint in the Phoenix Metro area.
- Glendale Greenhouse
- New Phoenix Flagship Dispensary
“The acquisition of both Glendale Greenhouse and the opening of our 83rd Avenue location demonstrates our commitment to the Arizona market and to providing consumers with reliable and high-quality cannabis experience,” said Joseph Lusardi, Chief Executive Officer.
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