In this week’s Cannabis Stock News Recap, you will find the top stories from around the industry for the week of June 10th – 16th, 2019.
Cannabis Stocks: Top 20 Biggest Gainers in the 1st Half of 2019
Let’s countdown the top 20 performers of the first half of 2019. These stocks have shown the ability to make major market moves so you may want to add them to your summer shopping watchlist and keep an eye on them over the next few months.
Without further delay, here is our list:
Read full Top 20 Gainers article
Cannabis edibles, extracts, beverages, and topicals will be available for purchase in Canada by December 2019. The new edibles regulations will come into effect on October 17, 2019, but the actual purchasing of these products won’t be permitted until two months later.
Leading licensed producers have shown early support for Health Canada’s final regulations including the timeline leading to sales beginning in December.
A number of top LPs such as Canopy Growth (TSX: WEED) (NYSE: CGC), HEXO Corp. (TSX: HEXO) (NYSE-A: HEXO) and CannTrust Holdings (TSX: TRST) (NYSE: CTST) have already signed deals with major players in the beverage space in order to get a head start on cannabis legalization 2.0.
Read full Health Canada article
4 Canadian Licensed Producers Set to Capitalize on Outdoor Cannabis Cultivation
Outdoor growing is a gift from mother nature to all the licensed producers that have the facilities and the know how to get the job done. As the summer season approaches, the major outdoor growers can produce some of the cheapest cannabis flower in the industry and reap the rewards of massive yields larger than any indoor facility can produce. The three leading outdoor cultivators that have already been approved by Health Canada are set to commence growing.
Let’s take a dive in and review the cannabis stocks that are all set up outdoors and ready to grow.
Read full Outdoor Growers article
Aleafia Health Becomes First LP to Complete Large-Scale Outdoor Cannabis Crop (Photos)
Aleafia Health (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) has completed the planting of its first outdoor crop, less than one week after securing Health Canada approval for outdoor cultivation. To the Company’s knowledge, Aleafia Health is the first licensed producer to complete a large-scale, legal outdoor crop in Canadian history.
View photos of Aleafia’s outdoor grow here
“With the country’s first legal outdoor crop now in the ground, Aleafia Health continues to validate our relentless focus on results-oriented execution,” said Aleafia Health CEO Geoffrey Benic.
Aleafia Health (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) has been granted approval by Health Canada for outdoor cannabis cultivation. On June 7, 2019, the Company’s wholly-owned subsidiary Aleafia Farms Inc., was granted a new Standard Cultivation License issued under Health Canada’s Cannabis Regulations at the Company’s Port Perry facility.
- 13,000 Starter Clones Already on-site at Port Perry Facility
- First Crop Underway With Plants now in the Ground
- Facility Expected to Produce up to 60,000 kg Annually Following Full Growing Season
“Receiving an outdoor cultivation license is one thing. Having cannabis plants in the ground within two days of receiving this license is an entirely different matter,” said Aleafia Health CEO Geoffrey Benic.
Read more ALEF news & articles
Canopy Growth and Acreage Holdings Remind Shareholders Why They Should Vote YES
Canopy Growth (TSX: WEED) (NYSE: CGC) and Acreage Holdings (CSE: ACRG.U) (OTCQX: ACRGF) issued a joint press release this morning encouraging shareholders to vote yes on Canopy’s proposed acquisition of Acreage.
The companies reminded investors to vote in favour of the deal before the deadline.
Both Canopy and Acreage’s board of directors unanimously support this deal and believe it will create substantial value for both sides and their shareholders.
Key reasons why both companies want their shareholders to vote in favour of the deal:
Tilray (NASDAQ: TLRY) announced that it has signed a non-binding Letter of Intent (LOI) with its largest stockholder Privateer Holdings for a transaction that will extend the lock-up on and provide for the orderly release of the 75 million Tilray shares held by Privateer to Privateer’s equity holders. These shares currently represent 77 percent of Tilray’s total shares outstanding.
Mark Castaneda, Chief Financial Officer of Tilray, said: “We appreciate the long-term confidence that Privateer has in the Tilray business and we look forward to having their investors as part of our stockholder base. We believe this transaction will give Tilray greater control and operating flexibility while allowing us to effectively manage our public float.”
Read more TLRY news & articles
Aphria Expands Vapes Portfolio with PAX Labs Deal
Aphria (TSX: APHA) (NYSE: APHA) announced an agreement with San Francisco-based PAX Labs, a leader in the design and development of premium cannabis vaporization devices, that will enable Aphria to provide premium cannabis extracts in pods designed for use with PAX’s innovative Era device and platform.
“As Aphria continues to drive the evolution of the industry, we are thrilled to partner with a technology leader like PAX to provide a new avenue for consumers to integrate cannabis into their lives,” said Irwin Simon, Interim CEO of Aphria.
Read more APHA news & articles
Source: Shutterstock
TGOD Inks Multi-Year Cannabis Extraction and Formulation Deal with Neptune Wellness
The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) announced that it has entered into a multi-year agreement with Neptune Wellness (NASDAQ: NEPT) (TSX: NEPT) for extraction, formulation and packaging services.
- Deal cements TGOD’s leadership position in organic consumer wellness products
- Largest deal for a processor in the industry to date
- Significant investment in high value manufacturing and supply chain jobs in Quebec
“With this agreement, Neptune becomes a key partner for TGOD; we have been impressed with their commitment to innovation and excellence in every aspect of their business,” commented Brian Athaide, CEO of TGOD.
Read more TGOD news & articles
Origin House Receives Final Approval for Cresco Labs Takeover
Origin House (CSE: OH) (OTCQX: ORHOF) announced that the Company has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the plan of arrangement with Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF).
“Receipt of the final court order is a significant step towards completing the arrangement with Cresco Labs. Both Origin House and Cresco Labs are committed to closing the transaction as soon as is practicable following the expiration of the applicable antitrust waiting period, and look forward to a successful outcome for shareholders of both companies”, said Marc Lustig, Chairman, and CEO of Origin House.
Origin House Shareholders Overwhelmingly Approve Cresco Labs Takeover
Origin House (CSE: OH) (OTCQX: ORHOF) announced that, at the special meeting of the holders of common shares of Origin House and the holders of class A compressed shares of Origin House, the Origin House Shareholders overwhelmingly voted in favour of both resolutions voted on at the Meeting.
At the Meeting, Origin House Shareholders were asked to consider and vote on a special resolution to approve the plan of arrangement with Cresco Labs (CSE: CL) (OTCQX: CRLBF).
Cresco Labs Opens 2 Medical Cannabis Dispensaries in Florida
Cresco Labs (CSE: CL) (OTCQX: CRLBF) announced the opening of new VidaCann medical cannabis dispensaries in the cities of Pensacola and Jacksonville, Florida. With the opening of the new dispensaries, VidaCann now has 12 operating dispensaries throughout the state of Florida.
“Since announcing the acquisition in March, VidaCann has continued to execute on the expansion of its retail footprint,” said Cresco Labs CEO and Co-founder Charlie Bachtell.
HEXO Corp Announces Fiscal Q3 2019 Earnings
HEXO Corp (TSX: HEXO) (NYSE-A: HEXO) reported its financial results for the third quarter of the 2019 fiscal year.
Key highlights:
- HEXO remains on-track ramping up to $400 million net revenue in fiscal 2020 and to double net revenue in Q4 fiscal 2019
- Entered a syndicated credit facility with CIBC and BMO for up to $65 million available credit to fund continuing expansion and innovation initiatives.
- Secured 60,000 kg of hemp to be supplied for CBD extraction purposes in preparation for upcoming edibles market and HEXO launch in eight American states in 2020
“The past five years have seen the cannabis industry landscape, and our company, evolve significantly,” said HEXO CEO and co-founder Sebastien St-Louis.
Read more HEXO news & articles
Neptune Wellness Reports Fiscal Q4 and Full Year 2019 Earnings
Neptune Wellness (NASDAQ: NEPT) (TSX: NEPT) announced it’s financial and operating results for the 3-month period and full year ended March 31, 2019.
Financial Highlights:
- Neptune began commercial production and shipping of cannabis extracts during the last weeks of the fourth quarter, recording its first cannabis revenues.
- Nutraceutical revenues of $24.4 million for fiscal year ended March 31, 2019, were stable with last year (excluding krill oil manufacturing business); revenues of $5.7 million in the fourth quarter of fiscal 2019 decreased versus $7.0 million for the fourth quarter of fiscal 2018.
“Fiscal 2019 was a pivotal year for Neptune, with our team’s efforts recently culminating in material contract announcements and a U.S.-based acquisition,” stated Jim Hamilton, CEO of Neptune.
Read more NEPT news & articles
Village Farms (TSX: VFF) (NASDAQ: VFF) announced that Governor Greg Abbott has signed into law Texas House Bill 1325, which effectively legalizes the cultivation of hemp and processing of hemp and hemp-derived products, including cannabidiol (CBD) in the State.
“The Governor’s signing of this bill into law formalizes a significant opportunity for Village Farms as a first mover in the Texas hemp industry and will allow us to capitalize on the expected demand for premium-grade hemp grown in controlled-environment facilities for the high-end health and wellness and the pharmaceutical industries,” said Michael DeGiglio, CEO, Village Farms International.
Valens GroWorks Increases Size and Scope of Cannabis Extraction Deal with Tilray
Valens GroWorks (CSE: VGW) (OTCQB: VGWCF) announced that it has expanded the volume of extraction services and has added an option to provide contract manufacturing services to the arm’s length, binding multi-year agreement with Tilray (NASDAQ: TLRY).
“This significant expansion of extraction services requested by Tilray is a true demonstration of the industry-leading service being provided to our partners,” says Tyler Robson, CEO of Valens GroWorks Corp.
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